Close Menu
  • Latest News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Meme Coins
  • Tech
    • Blockchain
    • Security and Privacy
  • Web 3
    • Gaming
  • Legal
    • Legal and Regulatory
    • Adoption
  • Analysis
  • Learn
    • Education
    • Wallets and Exchanges
  • Tools
    • Market Overview
    • Exchange Tool
What's Hot

Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

October 24, 2026

Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

October 24, 2026

Malaysia central bank launches DLT platform for tokenized bonds

October 23, 2026
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Disclosure
Facebook X (Twitter) Instagram
Free.cc (Free Cryptocurrency)Free.cc (Free Cryptocurrency)
  • Latest News
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. Meme Coins
    5. View All

    Robinhood (HOOD) sees surge in Bitcoin (BTC), Gold prediction markets as traders move beyond sports

    October 23, 2026

    AI Risk Could Force Bitcoin Drawdown To $10,000

    October 23, 2026

    Bitcoin Open Interest jumps 8% – Why BTC price faces liquidation risks

    October 23, 2026

    Bitcoin, Hyperliquid (HYPE) and Zcash (ZEC) Price Ready to Bounce Back

    October 23, 2026

    Ethereum’s Glamsterdam testnet hits setback – Why Solana remains ahead

    October 23, 2026

    ETH Slips Below $2,400 as ETF Outflows and Market Sell-Off Pressure Bulls

    October 22, 2026

    Ethereum: Can $61M in whale withdrawals help ETH bulls regain control?

    October 22, 2026

    Ethereum staking hits record highs – So why are yields falling?

    October 22, 2026

    Ethereum Delays Glamsterdam Test On Hoodi Over Smart Contract Compatibility Questions

    October 23, 2026

    Cosmos crypto defies market weakness – Can ATOM rally toward $2?

    October 23, 2026

    Chainlink’s $1.02M whale buy: An early Q4 signal or an isolated bet?

    October 23, 2026

    Zcash Foundation Details Zebra Sync Fixes Ahead Of NU7 Release

    October 23, 2026

    Top 5 Memecoins to Watch in 2026: Hype, Utility, or Growth?

    October 14, 2026

    Did Jean Phil Go Viral First — or Was the Viral Persona Built to Launch a Memecoin?

    October 5, 2026

    Thinking Cat Gains Momentum After CASHCAT’s Breakout

    August 12, 2026

    What Tokens Could He Target?

    July 30, 2026

    Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

    October 24, 2026

    Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

    October 24, 2026

    Malaysia central bank launches DLT platform for tokenized bonds

    October 23, 2026

    Bitcoin Core Changes Security Policy as AI Makes Vulnerabilities Easier to Find

    October 23, 2026
  • Tech
    1. Blockchain
    2. Security and Privacy
    3. View All

    Malaysia central bank launches DLT platform for tokenized bonds

    October 23, 2026

    Pyth Pro Powers New Loan Pools with WIF, PUMP, and SOL

    October 23, 2026

    neox-rs v2.7.0 merges 185 Reth upstream commits, closes nine vulnerabilities

    October 23, 2026

    NeoRedPill launches Telegram wallet bot with Neo N3 wallets, cross-chain bridging

    October 23, 2026

    Bitcoin Core Changes Security Policy as AI Makes Vulnerabilities Easier to Find

    October 23, 2026

    Coinbase, Bitgo Say Unaffected by PHP Flaw; Binance’s CZ Urges Caution

    October 22, 2026

    Crypto Thieves Hijack Ngrave Alerts and Walk Away With $2.56M

    October 21, 2026

    Zcash Proposes New Privacy Layer to Guard Swaps From Quantum Risks

    October 20, 2026

    Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

    October 24, 2026

    Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

    October 24, 2026

    Malaysia central bank launches DLT platform for tokenized bonds

    October 23, 2026

    Bitcoin Core Changes Security Policy as AI Makes Vulnerabilities Easier to Find

    October 23, 2026
  • Web 3
    1. Gaming
    2. View All

    Top 12 NFT games every player should know about in August 2026

    September 22, 2026

    GameShame Studios founder details Raijin Protocol’s roadmap in NeoPod’s sixth AMA

    September 22, 2026

    Proof of Play to shut down after blockchain gaming thesis falls short

    September 22, 2026

    How BC.GAME is turning players into stakeholders

    September 22, 2026

    Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

    October 24, 2026

    Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

    October 24, 2026

    Malaysia central bank launches DLT platform for tokenized bonds

    October 23, 2026

    Bitcoin Core Changes Security Policy as AI Makes Vulnerabilities Easier to Find

    October 23, 2026
  • Legal
    1. Legal and Regulatory
    2. Adoption
    3. View All

    Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

    October 24, 2026

    Polymarket US Sues Ohio to Block Sports-Contract Crackdown

    October 23, 2026

    Crypto PACs spend big on Ohio Senate race

    October 23, 2026

    Stand With Crypto Advances GENIUS Act Implementation

    October 23, 2026

    Germany’s main savings bank network launches Bitcoin trading

    October 21, 2026

    Two firms control corporate Bitcoin buys, even as business adoption broadens

    October 16, 2026

    AI agents keep coming back for crypto as x402 wallet refill rate surges to 89%

    October 15, 2026

    Interactive Brokers moves into Ethereum’s $110 billion staking market as institutional demand accelerates

    October 14, 2026

    Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

    October 24, 2026

    Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

    October 24, 2026

    Malaysia central bank launches DLT platform for tokenized bonds

    October 23, 2026

    Bitcoin Core Changes Security Policy as AI Makes Vulnerabilities Easier to Find

    October 23, 2026
  • Analysis

    Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

    October 24, 2026

    Can Rising Social Dominance Push PEPE Coin Higher?

    October 23, 2026

    Fake election polls expose a Kalshi loophole that could leave traders paying for fraud

    October 23, 2026

    Evernorth XRP Holdings to Target Higher XRP Per Share, CEO Says

    October 23, 2026

    The Crucial $245 Level That Decides Bittensor’s Next Move

    October 23, 2026
  • Learn
    1. Education
    2. Wallets and Exchanges
    3. View All

    What Is Robinhood Chain? The Ethereum Layer-2 Network for Tokenized Stocks

    July 12, 2026

    What Is BChat? The Decentralized Messaging App Built for Privacy

    June 2, 2026

    What Is an AI Prompt Injection Attack? The Hidden Threat Hijacking Your Chatbots

    May 31, 2026

    What Is AI Jailbreaking? A Beginner’s Guide to the Cat-and-Mouse Game Behind Every Chatbot

    May 17, 2026

    Coinbase Ireland’s cash safeguards fell €5 million short before 2024 fix

    October 23, 2026

    SideSwap reopens Bitcoin swaps while Liquid reserves stay locked

    October 22, 2026

    Binance bStocks collateral pricing moves to 24/7

    October 21, 2026

    Binance Pool shuts on November 10, with record access ending two weeks later

    October 18, 2026

    Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

    October 24, 2026

    Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

    October 24, 2026

    Malaysia central bank launches DLT platform for tokenized bonds

    October 23, 2026

    Bitcoin Core Changes Security Policy as AI Makes Vulnerabilities Easier to Find

    October 23, 2026
  • Tools
    • Market Overview
    • Exchange Tool
Free.cc (Free Cryptocurrency)Free.cc (Free Cryptocurrency)
Home»Bitcoin»Samourai Letter #2: Notes From The Inside
Bitcoin

Samourai Letter #2: Notes From The Inside

January 13, 2026No Comments11 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Hello Reader,

The shadow economy of FPC Morgantown runs on pouches of mackerel. Yes, the fish. Much like any fiat, or precious metal standard there is no intrinsic value to the currency, to the mackerel.

You might be a smart ass thinking to yourself that surely you can eat the mackerel if you wanted and there is some amount of protein that some prison economist has a model for deriving intrinsic value based on caloric density and protein richness. But alas, no.

If you have time to read this article, you have time to sign the petition to free Samourai Wallet developers Keonne Rodriguez and William Hill. Every signature counts. CLICK THE IMAGE ABOVE OR HERE.

Most of the mackerel in circulation is so old that eating it would most certainly result in a visit to the medical station or worse a nasty case of the runs. Trust me when I say the last place you want to have the runs is in a communal toilet block that 100 other guys make use of as well.

So no, the mackerel – also known as Macks – are certainly not for eating. But why mackerel? Why not chicken, salmon, tuna, or like other prisons, stamps? Stamps seem like a more logical choice, they have multiple face value denominations, they are a form of government tender, they have some value on the outside, they are hard to counterfeit, they do not go rancid after time, and in the words of the gentleman I met in the laundry room last night “doggon thangs smell like pussy that gon’ rotten”.

Before we can get into the reason for “The Mack Standard” at FPC Morgantown let us examine more deeply the grey market forces at play by first understanding what the white market looks like.

Each prisoner has two ways to earn dollars while incarcerated. A friend or family member on the outside can “add money to your books” – This means they deposit a sum of money into your prisoner trust fund account held by the BOP on your behalf.

The other way is by earning the dollars through your prison job. Each person in a Federal prison must have a job. The pay for these jobs range from $0.20 to $1.00 an hour, so needless to say if you’re relying on your prison job solely to earn money while inside there is going to need to be some creativity on your part.

What is money actually used for anyway? Where does one spend the money they earn or that friends and family send? Every week there is a designated day that you are allowed to “shop” at the commissary.

You fill out a sheet like you would have found in an old mail order catalog. You mark what item you want and then quantity you want. You then wait in line for over an hour while commissary employees gather the items to be distributed.

You can buy all sorts of items to make your stay in prison more comfortable. Your sentence goes much smoother with limited creature comforts on your side.

For example, you can buy what prisoners call “greys” which is a grey sweatshirt and grey sweatpants so that during off hours you can remove your stiff uncomfortable uniform you can change into something more comfortable.

See also  Petition for Samourai Developers Passes 11,000 Signatures

They sell comfortable sneakers so that during recreation time you can wear something other than your heavy and mightily uncomfortable prison issued work boots. The commissary also sells shelf stable food items and snacks.

Of course, the most important shelf stable item they sell are pouches of mackerel. One pouch goes for $1.40 – They used to be a dollar, but that is inflation for you.

There are several other factors of the white market prison economy to be aware of. These factors really drive the grey market in a prison.

The first is each prisoner has a spending limit imposed on them of $360 per month. It isn’t too difficult to hit that limit.

A tablet for watching rented movies costs $148, a pair of sneakers $70, a pair of more comfortable work boots $100. A pouch of Chicken $4.00.

You have to be quite strategic about what you buy and when in order to make sure you do not run over your allocated spending amount too early in the month.

The second factor is the artificial limits placed on certain items. For example, you can only buy up to 10 pouches of tuna, or only 1 notebook at a time, or only 20 $0.78 stamps, or 10 $1.00 stamps.

Understanding these factors of artificial limits, inflated prices, and suppressed wages we can begin to discover why a grey market exists in every single prison institution, globally.

There exists two primary needs to prisoners participating in the economy. The ability to overcome the artificial limits imposed by the administration and the ability to earn more than is possible by their prison jobs alone.

Quite frankly, it is the same needs and motivations that were readily apparent and well studied by economists during the reign of the Soviet Union. It is the same factors and motivations that ensure a thriving black and grey market in communist Cuba today.

Whenever these types of limits and restrictions are imposed within the otherwise free and unencumbered market by top down administrators, market participants find a work-around.

That is why the black/grey market is the largest market on earth. It has nothing to do with criminality and everything to do with honest actors being pushed out of the permissioned system.

For the guys who don’t have help on the outside, they need to make money on the inside – to supplement the pittance they will earn from their prison job – as such, people run various hustles.

Some guys will do your laundry for you, running what essentially amounts to a wash, dry, and fold service with pickup and delivery. This usually runs for 1 mack per garment with some sort of volume discount for large orders.

Some guys are chefs and will prepare hot food to sell right from their cell like some sort of food stall in a third world bazaar.

You can often smell the (frankly delicious) scents radiating from the chefs makeshift kitchen (by the way, there is a sort of symbiotic relationship with the chef and the laundry man. The chef hoards the iron for use in cooking thereby limiting availability to iron your own clothes. The laundry man has the only other iron, so if you want pressed clothing you must engage his services).

See also  WhiteBIT Enters UK Market With Faster GBP Crypto Payments

The chef will often have runners that take the hot prepared food from cell to cell, collecting packets of mackerel as payment – a sort of prison equivalent of Uber Eats. I am sure they get some commission for this job they perform.

Of course some guys operate on the wrong side of the “law” and sell contraband items such as cell phones, cigarettes, and vapes though I haven’t seen this personally yet, I have heard of it within the prison.

Apparently the CO’s have heard about it too, as I have experienced two shakedowns (we all are required to leave our living area while a pair of CO’s search our cells and everywhere else in the room including air vents and lighting fixtures).

When sports games are on the TV there will be bookmakers and gamblers trying out their luck at a mackerel windfall. Just like on the outside people will do what they have to do to make a buck – or a mack.

For the guys who do have help on the outside and money flowing onto their books they have slightly different motivations.

Some just want to be able to purchase more than the artificial limits allow for. Some are required by their sentence to pay fines or restitution and if they place too much money on their books, the amount they will be required to repay each month will increase, so it makes financial sense for them to keep their books light on cash, and handle only mackerel. Sort of like the way on the outside a businessman will keep their taxable income as low as possible (think Jeff Bezos famously being paid a salary of $1.00).

And some just want to corner the Keebler Chocolate Cookie market (a very popular item, by the way) and become the go to market maker for that product.

Whatever the motivations or desires, humans make rational decisions in their own economic self interests, being institutionalized in a prison will not change that. In fact, it will amplify it.

Successful hustler will accrue a large amount of macks while in prison. What do they do with it? You may be wondering how they convert some of that to “real money”.

Like every other economy there are currency converters / money changers, and in a prison filled with highly educated white collar criminals, it appears to be a pretty sophisticated operation.

I really haven’t participated in the hustle and bustle. I have only been here long enough to shop at commissary once, and I was able to buy everything I needed without breaking the spending limits or item limits. So while I do not know exactly how this part works I have some inkling of an understanding.

See also  Why Trump Should Pardon The Developers Of Bitcoins Non Custodial Samourai Wallet

From what I gather converting Macks to Dollars works by the buyer of the macks getting an associate on the outside to send the seller of the macks USD via Cash App or by depositing money onto their books directly using something like Western Union.

Like all economies there is some degree of barter that occurs in the prison system.

Some guys refuse to bother with Macks and instead will trade with higher value chicken, or soda, or flaming hot Cheetos, it all depends on who you are dealing with and what they want. Everything is always open to negotiation.

However, barter soon becomes ineffective at scale and currency must be utilized. Much like all economies, what is used as currency is generally worthless – be it paper, metal, or pukka shells – but there is a sort of shared acceptance (or delusion) that the thing we choose represents some sort of value that we all can agree on.

In FPC Morgantown, that is pouches of Mackerel, and they are worth roughly $1.00

As we close this letter let us return to our original question. Why Macks? Why not stamps?

The short answer is I don’t know. I have theories but I am not certain. My best theory so far is 1) Most people don’t actually want to eat the mackerel, so they stay in circulation longer than something desirable like chicken which more people want to eat; 2) There appears to be no limit on how many mackerel pouches you can buy from the commissary.

From what I gather, stamps are always limited – in fact, most things are – but not mackerel pouches. I think these two observations are what lead my forefather prisoners to found an entire shadow economy based on the Mackerel Standard.

As I write this it is December 26th, The day after Christmas. My 8th night as a prisoner. It hasn’t taken long to start seeing the way things really work, the way the real economy functions, the way humans will adapt to any situation we find ourselves in.

Just like on the outside there are winners and losers, moguls and paupers, blue collar and white collar.

But unlike the outside, there is a shared camaraderie between the classes and strata of prisoner, an “us versus them” undertone, prisoner versus cop.

Merry Christmas everyone. I wish I was there to celebrate with my family and with you.

Keonne Rodriguez

Write to Keonne:

Keonne Rodriguez
11404-511
FPC Morgantown
FEDERAL PRISON CAMP
P.O. BOX 1000
MORGANTOWN, WV 26507

Mailing Guidelines:

Please note: You can only send letters (no more than 3 pages long). No packages or other items are allowed. Books, magazines, and newspapers must be sent directly from the publisher or an online retailer like Amazon. All letters must include a full return address and sender name to be delivered.

This is a guest post by Keonne Rodriguez. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.

Letter Notes Samourai
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Robinhood (HOOD) sees surge in Bitcoin (BTC), Gold prediction markets as traders move beyond sports

October 23, 2026

AI Risk Could Force Bitcoin Drawdown To $10,000

October 23, 2026

Bitcoin Open Interest jumps 8% – Why BTC price faces liquidation risks

October 23, 2026

Bitcoin, Hyperliquid (HYPE) and Zcash (ZEC) Price Ready to Bounce Back

October 23, 2026
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Immutable and Polygon Launch Gaming Hub

October 3, 2025

Bitcoin Retests Key $74,500 Support as Analysts Map Two Scenarios for the Week Ahead

May 26, 2026

Stay ahead with the latest crypto news, market updates, blockchain insights, and trends. Your trusted source for everything happening in the digital asset world.


We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin ETFs shed $635 million as BTC tests their holdings’ estimated $81,500 cost basis

October 24, 2026

Treasury Secretary Bessent likens GENIUS Act to Lincoln-era banking reform

October 24, 2026

Malaysia central bank launches DLT platform for tokenized bonds

October 23, 2026
Get Informed

Subscribe to Updates

Get the latest creative news From Free.cc directly in your Inbox!

  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Disclosure
© 2026 free.cc - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.