21 May 2026

I dig into the growing fight over on-chain zaps on Nostr, using Gigi’s “Careful Icarus” as the backbone for a broader point: tying Bitcoin UTXOs to public social identities is dangerous, but panic is not a strategy. The real answer is better defaults, better privacy tools, and enough humility to admit that “we can build it” does not always mean “we should ship it.”

Bitcoin And | Bitcoin & Economic News • Icarus Airlines | Bitcoin News • Listen on Fountain
Bitcoin news and bitcoin regulation update. Today I cover Nakamoto’s reverse stock split, Gigi’s warning on on-chain zaps, Binance launching SpaceX pre-IPO perpetuals, South Carolina’s CBDC ban, Silvergate’s former risk chief speaking out on the SEC settlement, and another reported crypto kidnapping attempt in France. This episode also touches on bitcoin technology, financial news, and the pressure points around custody, identity, markets, and regulation.Topics for today: Nakamoto plans a 1-for-40 reverse stock split to address Nasdaq listing pressure Gigi argues on-chain zaps create serious privacy and user safety risks Binance launches SpaceX pre-IPO perpetual contracts South Carolina bans CBDCs and adds protections for crypto users and Bitcoin miners Silvergate’s former risk chief discusses the SEC settlement and regulatory pressure The wife of Sandbox co-founder Sébastien Borget is reportedly targeted in a kidnapping attempt Circle P Sponsor: [Add Circle P sponsor block here] Today’s Articles covering bitcoin news, bitcoin regulation, financial news, and bitcoin technology: https://cointelegraph.com/news/nakamoto-1-for-40-reverse-stock-split-nasdaq-bitcoin-treasury https://dergigi.com/2026/05/20/careful-icarus/ https://www.coindesk.com/markets/2026/05/21/binance-launches-spacex-pre-ipo-perps https://decrypt.co/368455/south-carolina-law-banning-cbdc-protecting-crypto-users-bitcoin-miners https://cointelegraph.com/news/silvergates-fraher-breaks-silence-on-settlement-with-genslers-sec https://www.theblock.co/post/402146/wife-of-sandbox-co-founder-sebastien-borget-targeted-in-kidnapping-attempt-at-home-in-france-report Get Your Free Comfrey Owner’s Manual Here:https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/Help a Brother Out With 5 Star Reviews:Apple Podcasts: https://podcasts.apple.com/us/podcast/bitcoin-and-bitcoin-economic-news/id1438789088Spotify Podcasts: https://open.spotify.com/show/1dsTluNHIPNsXVRghpqxhYAmazon Music: https://music.amazon.com/podcasts/9ef7d5b6-9137-439d-94eb-8071ec6bf890/bitcoin-and-bitcoin-economic-newsYouTube Music: https://music.youtube.com/playlist?list=PLWaKxaQF5Q5WiTq80SBYs_7iLDtleV0rZFind the Bitcoin And Podcast on every podcast app here:https://episodes.fm/1438789088Find me on nostrnpub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)Twitter:https://twitter.com/DavidB84567StackerNews:stacker.news/NunyaBidnessPodcasting 2.0:fountain.fm/show/eK5XaSb3UaLRavU3lYrIApple Podcasts:tinyurl.com/unm35bjh Mastodon:https://noauthority.social/@NunyaBidnessSupport Bitcoin And . . . on Patreon: patreon.com/BitcoinAndPodcastFind Lightning Network Channel partners here:https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)https://t.me/plebnet (Plebnet)Music by:Flutey Funk Kevin MacLeod (incompetech.com)Licensed under Creative Commons: By Attribution 3.0 Licensecreativecommons.org/licenses/by/3.0/

The first real heavyweight fight on Nostr has arrived, and naturally it has Bitcoin fingerprints all over it. On-chain zaps sound simple enough: instead of sending sats over Lightning, someone can send Bitcoin directly to your Nostr identity. Your npub becomes, in effect, a public Bitcoin wallet. That sounds convenient right up until you remember that Bitcoin is not a private bank account. It is a public ledger with a very long memory.

Gigi’s rebuttal to the whole thing lands very hard because he is not arguing against experimentation. He is arguing against bad defaults. Zaps are public, yes, but Lightning zaps do not reveal your wallet balance, your future spending, your past transaction history, or the rest of your financial life. On-chain zaps can. If your social identity gets tied to a static on-chain address, you have handed chain surveillance firms, criminals, and every bored data-scraper on the internet a gift basket with a bow on it.

The core problem is not that someone might send you money. The problem is that they can send you money without your consent, attach that money to your public identity, and potentially create a trail you now have to deal with. Do nothing, and people can see the sats sitting there. Move them, and now they can follow where they go. Combine them with other UTXOs, and congratulations, you have just connected your Nostr profile to your real Bitcoin stash. That is contrast dye for a chain analysis MRI.

And it took almost no time for the obvious to happen. Once on-chain zaps were born, someone quickly built a “rich list” showing who had the most Bitcoin tied to their Nostr identity. Today that might mean a few dollars. Tomorrow it could mean a full coin. Either way, it turns a social network into a target list. People have been robbed, extorted, and kidnapped over Bitcoin for years. Pretending that public identity plus public money plus public transaction history is harmless is not optimal by any stretch of the imagination.

That said, losing our minds does not help either. Alex Gleason and Vitor (the guys who came out swinging with on-chain zaps) are not villains. They are very competent and above board developers who built something that was possible, and if they had not built it, someone else eventually would have. That is the uncomfortable part. Bitcoin and Nostr fit together in ways that make this kind of thing almost inevitable. The answer cannot be pretending the door does not exist. The answer is building better doors, better locks, and maybe not inviting everybody to walk through the broken one first.

That is why the silent payments work from Tim Bouma is so encouraging. In the middle of the panic, someone else came along and showed a more private path: receive funds to an npub-like identity without blasting the whole thing into an easily traceable public mess. Is it perfect? No. Does it solve every fee, dust, or UX issue? Also no. But it is exactly how this ecosystem is supposed to work. Someone builds something dangerous, someone else points out why it is dangerous, and then someone else starts making it less dangerous.

The lesson here is not to “never build” anything, ever because [insert reason here]. It is “do not confuse velocity with wisdom.” Convenience is seductive, especially when the demo works. But money and identity are not the same thing, and Bitcoin privacy is not something you can casually bolt back on after the fact. On-chain zaps may be here now, but sane defaults still matter. Users should not have to become UTXO hygiene experts just to post memes and receive sats. Build fast, sure. But first, do no harm


  • on-chain zaps Nostr
  • Bitcoin privacy and Nostr
  • Nostr zaps Lightning
  • Bitcoin UTXO privacy
  • silent payments Nostr