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LocalBitcoins has announced that the exchange will be closed for service by the end of February. The long-time Bitcoin trading service was the first peer-to-peer (P2P) transaction platform for many Bitcoiners. Launched in June 2012, the exchange is one of the oldest entities in Bitcoin, establishing itself as a primary P2P player in its hey-day with over $100 million in weekly trading volume of peer-to-peer transactions.Notably, the shutdown has arrived just as P2P Bitcoin merchants and individual sellers have come under heavy scrutiny from U.S. regulatory authorities.
Tweets: @SDWouters @decryptmedia @CoinDesk @RufasKe @CoinDesk @depression2019 @walletofsatoshi @LocalBitcoins @Blockworks_ @Forbes @lopp @LocalBitcoins @SimonDixonTwitt $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @LynAldenContact @saylor @AP_Bitcoin @econoalchemist @GaryGensler @WallStreetSilv @brian_armstrong @BitcoinPierre @BTCsessions @fiatjaf @Brad_Setser @TuurDemeester @RegulatoryJason @Brad_Setser $Regulators are effectively picking winners — with larger, more established crypto firms able to hang on to their bank relationships, while newer ones are shut out. Meanwhile, other jurisdictions are making a bid for their business. Hong Kong has adopted a friendlier tone once again, as has the UK. The UAE and the Saudis are looking to attract crypto firms. And US regulators can scarcely afford to forget what happened with FTX, in which they curtailed the business activities of onshore exchanges, effectively pushing US individuals into the waiting claws of SBF. If bank regulators continue their pressure campaign, they risk not only losing control of the crypto industry, but ironically increasing risk, by pushing activity to less sophisticated jurisdictions, less able to manage genuine risks that may emerge.
Tweets: @micsolana @JohnEDeaton1 @nic__carter @Tyler_Lindholm @nic__carter @nic__carter @CraigSalm @nic__carter @nic__carter @DavidZell_ @nlw @nic__carter @RegulatoryJason @lylepratt @AP_Abacus $The inflated bitcoin prices may not reflect a heightened demand for the asset (bitcoin) but a continued demand for the U.S. dollar as the country’s local currency suffers. Nigeria’s bitcoin premiums are not a new phenomenon and they typically reveal the discrepancies between official and unofficial U.S. dollar exchange rates in the country. Although the government sets the official rate, thanks to the country’s chronic currency devaluation problem, the dollar sells for much higher on unofficial local forex markets.
Tweets: @Bitcoin_Xoe @saylor @BTC_Archive @BitcoinMagazine @AnitaPosch $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @Dennis_Porter_ @BitcoinMagazine @LN_Capital @brian_armstrong @IIICapital @Croesus_BTC @stephanlivera @RegulatoryJason @IIICapital @robustus @BTCGandalf @ericyakes @Breez_Tech @SparrowWallet @raypaxful @nic__carter @AnitaPosch @1MarkMoss @Ledger @walletofsatoshi @InnocuousFinch $It is reasonable to presume that in a situation where the bitcoin price continues its rally through 2023, capital will quickly flow to Bitcoin miners, thereby lifting hash rate and reducing miner unit revenue (a commonly-preferred metric for understanding unit revenue is “hash price”). The questions for miners is how likely such a BTC rally is and how long will it take for sufficient capital expenditures to be deployed, such that hash price reverts to its equilibrium. Many public miners are now more than 90% below their peaks and trade at valuations that attribute very little intrinsic value to their businesses. However, they remain highly volatile and have close correlations with the price of bitcoin.
Tweets: @BitcoinPierre @crypto $India wants to launch its central bank digital currency at a national level by the end of 2023, but early into its pilot, the Reserve Bank of India has identified challenges, several people familiar with the matter said. The CBDC-R is meant for the private sector and Indian citizens. The wholesale CBDCs are restricted to financial institutions and are meant to improve the efficiency of interbank payments. Publicly, the RBI has said the CBDC will provide an additional option to the currently available forms of money that is easier, faster and cheaper to use than existing payment rails, along with the transactional benefits of other forms of digital money. Privately, as an emerging economy, one of the world’s largest populations in 2023, and the fifth largest in terms of GDP, India’s geopolitical motivation is to counter the dollarization of the global economy.
Tweets: @CoinDesk @TechCrunch @CoinDesk @Ravisutanjani @Cointelegraph @JetkingLtd $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @epodrulz @kerooke @LPCapitalChi @IIICapital @JonErlichman @ReutersWorld @BitcoinIsSaving @TheWhyOfFI @BitcoinPierre @CaitlinLong_ @BTC_Archive @Austen @GameofTrades_ @alexbosworth @kerooke @rodarmor @bitcoinoptech @zerofeerouting @VailshireCap @Pledditor @BitMEXResearch @giacomozucco @Dennis_Porter_ @BIS_org @ramahluwalia $Governor Andrew Bailey and Chancellor Jeremy Hunt revealed a roadmap on Monday night for creating a new central bank digital currency (CBDC) – dubbed “Britcoin” in the press – that could enter circulation by the end of this decade. It is understood that Britons will initially be limited to transferring a few thousand “digital pounds” into their accounts under plans being drawn up. The limit will be imposed in order to prevent “large and rapid outflows” from traditional high street banks.“A limit on individuals’ holdings would apply at least in the introductory phase,” the Treasury said. “This would strike a balance between both encouraging use and managing risks, such as the potential for large and rapid outflows from banking deposits into digital pounds. These limits could be amended in the future.”
Tweets: @allenf32 @BernieSpofforth @Nigel_Farage @thecryptoc0up1e @federico_rivi $The prime objective of the programme is to use additional foreign exchange resources from the Bank of Ghana’s Domestic Gold Purchase programme to provide foreign currency for the importation of petroleum products for the country which currently stands at about USD350 million per month. The programme also aims to procure petroleum products at very competitive prices through Government-to-Government (G2G) arrangements.
Tweets: @JanGold_ @PulseGhana @tv3_ghana @JoyNewsOnTV @BBSimons $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @MitchellHODL @WallStreetSilv @WallStreetSilv @saylor @glassnode @charlie21fastaf @TheBlueMatt @derekmross @ssaurel @BTC_Archive @lopp @BitcoinPierre @BTC_Archive @TheBTCManual @JoeConsorti @ErinEMalone @DSBatten @TheWhyOfFI @MoheganBTC @DocumentingBTC $Fedimint is an emerging open source protocol that combines bitcoin, lightning, chaumian ecash, and federated custodians (called Guardians) to create community wallets that are easy to use, have strong privacy, reduced custodial risk, cheap and fast payments within the community, and interoperability with all bitcoin wallets. Current Fedimint development is focused on easy to use consumer wallets that could replace usage of major custodial wallet providers such as Binance and Wallet of Satoshi, but what if the same tech was used to replace major custodial mining pools such as Foundry and AntPool.
Tweets: @ODELL @ODELL @TheVladCostea @ODELL $There’s a new way to mint non-fungible tokens (NFTs) on Bitcoin, one that involves putting the actual content of the NFT completely on-chain. Only the creator of this standard, Casey Rodarmor, doesn’t want to call them NFTs. He thinks that the word is tainted, so instead he’s calling them “digital artifacts.” An ordinal is any number that defines a position in a series (e.g, first, second, third). In this case, the ordinal is the unspent transaction output (UTXO) for a specific satoshi. This satoshi includes an inscription with the NFT’s content, which could be txt, an image, an HTML, or even an MP3 file, and the ordinal marks this inscribed sat as a special transaction so users can identify and track them. Notably, an ordering system for sequencing satoshis was proposed as early as 2012. Since launching in January, over 1,000 digital artifacts are now immortalized on the Bitcoin blockchain.
Tweets: @BitcoinSapiens @MaxisClub @Cipherhoodlum @BitcoinSapiens @LuchoPoletti @BitcoinSapiens @Pledditor @jimmyvs24 @adam3us @verysmallclaims @thomas_fahrer @CoinDesk @hashrateindex @knutsvanholm @BTCsessions @Pledditor $By using data storage features of the Bitcoin network that were introduced by the Segregated Witness (SegWit) upgrade in 2017 and the Taproot upgrade in 2021, Bitcoin node operators are stuffing images, GIFs and other media files into Bitcoin blocks. But this practice has also resurfaced a conversation of growing importance: miner extractable value (MEV) on Bitcoin. Ordinals are Bitcoin data inscriptions that give miners a glimpse at what the future of Bitcoin MEV could be.
Tweets: @zackvoell @zackvoell @BitcoinPierre @rodarmor @BikesandBitcoin @BitcoinIsSaving @sethforprivacy @LukeDashjr @peterktodd @BitPaine @CoinDesk @derekmross @hellmoneypod @raw_avocado @wowbitcoinrocks @notgrubles @hashrateindex @LukeDashjr @ercwl @glassnode @stephanlivera @nvk @BitcoinIsSaving @RagnarLif $Munger is a Cantillionaire – after Richard Cantillion who wrote one of the first economic treatise in the eighteenth century describing how proximity to the monetary inputs of a society confer special advantages at the expense of wider populus. If there is such thing as “structural inequality”, it has more to do with the way the monetary system is constructed to benefit people who are already super-wealthy than anything else. Bitcoin is more than a disruptive technology. It’s a decentralized counter-attack against a structurally unsustainable and predatory financial system.
Tweets: @BitcoinMagazine @WalkerAmerica @natbrunell @CoinDesk @VandelayBTC @unusual_whales @BitcoinNewsCom @CharFadirepo @BitcoinNewsCom @BitPaine $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @decentmoney2009 @umbrel @saifedean @jb55 @azbitcoiners @willcole @sciam @saifedean @SahilC0 @damusapp @LynAldenContact @lopp @AFTXcreditor @jimmysong @lisaabramowicz1 @AnitaPosch @BTCTN @BitcoinJungleCR @WatcherGuru @Stromens @BitcoinPierre @getAlby @lopp @BitcoinPierre @RufasKe @notgrubles @LynAldenContact @stackhodler $Traditional banking systems have, time and again, served as a tool for centralized governments to dictate financial access, especially during emergencies. A large portion of the general public sees Bitcoin as a gateway to financial freedom amid growing fiat inflation and geopolitical uncertainties. As intended by the creator Satoshi Nakamoto, Bitcoin seeks to bring power back to the people. No amount of regulations, sanctions or bans can stop people from using Bitcoin as money. Beyond that, a calculated investment in Bitcoin has the potential to bring people closer to attaining their dream of financial freedom.
Tweets: @Cointelegraph $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @LukeDashjr @TXMCtrades @Abentley77 @BitcoinPierre @RSync25 @advbitcoin @tarik_sammour @BitcoinduLiban @alexbosworth $It took two years for the Fed to deny Custodia’s application despite approval normally taking ten days. Only for it to grow fishier. Denial from an allegedly non-political entity came in concert with the Biden administration releasing a rather skeptical statement about cryptocurrencies: “Roadmap to Mitigate Cryptocurrencies’ Risks.” It gets more ridiculous. And obnoxious. The Fed is excusing its alleged caution about Custodia given the “significant risks associated with cryptoassets and the crypto-asset sector.” Oh dear. Can they be serious? Better yet, do the regulators at the Fed think anyone is fooled here?
Tweets: @MatticusBTC @CaitlinLong_ @CaitlinLong_ @ProfJulieHill $What bitcoin’s strong January may imply for the rest of the year, Ordinals NFT project provokes important questions for Bitcoin community and FOMC's rate decision sends Bitcoin higher.
Tweets: @NYDIG @Victor_Velea $On Feb. 3, the Australian Treasury released a consultation paper on “token mapping,” announcing it as a foundational step in the government’s multistage reform agenda to regulate the market. The paper proposes its taxonomy of four types of crypto-related products: Crypto asset services, Intermediated crypto assets, Network tokens, Smart contracts. While the paper proposes to start the discussion on this taxonomy and doesn’t provide any legislative initiatives, its authors anticipate a relatively easy tailoring of existing laws for a large portion of the crypto ecosystem.
Tweets: @CoinDesk @TheBlock__ @crypto @crypto $Please tag @BTCNEWS_TODAY on Twitter to submit tweets.
Tweets: @JoeConsorti @ParikPatelCFA @ArcadeCityMayor @WalkerAmerica @jb55 @vtchakarova @yassineARK @EpsilonTheory @btc_archive @kerooke @JoeCarlasare @jb55 @fiatjaf @mononautical @BlakeDavis50 @ProfJulieHill @BTC_LN @fiatjaf @DocumentingBTC @ParikPatelCFA $Bitcoin’s architecture trades speed for security. Lightning Network addresses that tradeoff. On the brink of Lightning’s fifth birthday, we now have a global adoption wave taking place. While bitcoin relies on its network of miners to provide security to the network and to build the blockchain for decades and centuries to come, it now depends on Lightning Network to power instant payments. We must therefore associate bitcoin and Lightning as one entity—bitcoin, modernized.
Tweets: @TheBitcoinLayer @timevalueofbtc $How many bitcoin users are there? How should we define a bitcoin user? We cover our preferred ways to categorize and track user growth then compare it to other available estimates. Significant bitcoin adoption is much lower than the estimates of 10-15% penetration or roughly 500 million users that are commonly thrown around today. In fact, he suggests that bitcoin adoption by what we would consider “heavy users” is at 0.01% penetration of the global population.
Tweets: @VailshireCap @BitcoinNewsCom @saylor @BitcoinNewsCom @RealVision @BTC_Archive $The miner said in a release on Thursday that the decision was made to cover some of its expenses. "With bitcoin production increasing and becoming more consistent, we made the strategic decision to sell some of our bitcoin, as previously planned, to cover some of our operating expenses and for general corporate purposes," Marathon’s Chairman and CEO Fred Thiel, said. Marathon said it mined a record 687 bitcoin, which is up 45% from December 2022. Marathon has about 4% of the total Bitcoin hash rate.
Tweets: @NewsDopamine @MarathonDH @Techmeme $Ads
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Tech & Dev
lnurl-auth is very unique in the sense that it doesn’t even need a Lightning wallet to work, it is a standalone authentication protocol that can work anywhere. The basic idea is that each wallet has a seed, which is a random value (you may think of the BIP39 seed words, for example). Usually from that seed different keys are derived, each of these yielding a Bitcoin address, and also from that same seed may come the keys used to generate and manage Lightning channels. What lnurl-auth does is to generate a new key from that seed, and from that a new key for each service (identified by its domain) you try to authenticate with.
Tweets: @dergigi @dergigi @k00bideh @kerooke $This week’s newsletter summarizes a discussion about storing data in transaction witnesses and references a conversation about mitigating LN jamming. Also included are our regular sections with the summary of a Bitcoin Core PR Review Club meeting and descriptions of notable changes to popular Bitcoin infrastructure software. On the issue of storing data in transaction witnesses, Andrew Poelstra emphasizes that there is no effective way to prevent data storage. Adding new restrictions to prevent unwanted data storage in witnesses would undermine advantages discussed during taproot’s design and would likely only result in the data being stored in other ways. Those other ways might raise costs for those generating the data—but probably not by enough to significantly discourage the behavior—and the alternative storage methods might create new problems for traditional Bitcoin users.
$In Bitcoin the smallest error has the potential to be catastrophic; as such, those focused on private key security strive to eliminate any single point of failure in the systems they build. Naturally, this makes the concept of splitting up a secret into multiple pieces and later performing a ritual to recombine them sound somewhat appealing. It's so appealing that variations of Shamir's Secret Sharing (SSS) have been implemented several times in the cryptocurrency space, only for developers to later realize that the additional complexity ended up reducing the security of the system.
$Bitcoin Core developer James O’Beirne proposed vault opcodes in a post to the official Bitcoin-Dev mailing list. His soft fork would add two new operation codes (“opcodes”) to Bitcoin script: OP_VAULT and OP_UNVAULT. What would these new opcodes accomplish? What are the alternative proposals and next steps?
$It's great to see Bitcoiners joining Nostr, the decentralized social network. This is a good, short post from ConsentOnChain blog that all Nostriches should read.
Tweets: @jack @pleblira @jb55 @andreneves @cameri @melvincarvalho @derekmross @JeffBooth @yeg0rpetrov @pippellia @notgrubles @cameri @jameslavish @SovrynM @vishalxl @fiatjaf @fiatjaf @CaptFrancisDank @nitesh_btc @spiralcrunch @shukla @nvk @shukla @nvk @resistancemoney @BTCNEWS_TODAY $Podcasts
| Date | Name | Episode |
|---|---|---|
| 2023-02-10 | Citadel Dispatch | CD89: Open Source Week Party Rip at Bitcoin Park with NVK, Vivek, Paul, Tony, and the Bens |
| 2023-02-09 | Swan Signal | Lawrence Leopard & Greg Foss | Gold, Bonds and Bitcoin |
| 2023-02-08 | Bitcoin Fundaments - The Investor’s Podcast Network | Bitcoin Ordinals and NFTs on layer 1 of the protocol w/ Pierre Rochard (Bitcoin Podcast) |
| 2023-02-08 | Odd Lots / Bloomberg | Steve Eisman on the 'Paradigm Shift' Happening in Markets Right Now |
| 2023-02-07 | The Acid Capitalist / Hugh Hendry | S&P to 5,000?! with guest George M. Robertson |
| 2023-02-07 | Tyler Page | The Mining Pod | Keeping Operating Costs Slim With Cipher Mining |
| 2023-02-04 | The Bitcoin Layer | Bitcoin Mining Globalization Masterclass with Mags Gronowska |
| 2023-02-02 | Stephan Livera Podcast | Casey Rodarmor What Are Ordinals? |
| 2023-01-31 | Witness History / BBC World Service | The 'Nixon Shock' and the end of the Gold Standard |
| 2023-01-29 | The Indicator from Planet Money / NPR | What's the deal with the platinum coin? |
Longform
history of debt in bitcoin mining, examined key principles of debt, and looked at some of the most common structures available to bitcoin miners. Now that we understand the landscape, we will take a look at the considerations for borrower and lender alike, the effect of leverage on mining returns, and discuss how the future of the market might look. Here are the main topics covered in Part 2: Key considerations from a lender's point of view and from miners' point of view, a case study, comments on the future of debt in Bitcoin mining, shortcomings of ASIC-backed debt, cost of capital being king, and The Forever Forthcoming Hash Rate Marketplace.
$Computation is competition. While the quantum computing threat is not something we expect to be worth worrying about for many years, it is better to be proactive rather than wait for it to come for us. Security is the science of staying ahead. The very act of wealth preservation is comprised of staving off the many attempts to steal it.
$Between 2009 and the end of 2021, household sector wealth soared by 150%, increasing from $60 trillion to $150 trillion. The index, which is commonly referred to as the Wealth-to-Income Ratio, has a 68-year average is 550%. Its interesting to observe how the index behaved in the face of past examples of record high stock prices. “Actual” inflation is likely much higher than the official number. According to Shadow Government Statistics, if inflation were calculated in the manner that it was back in 1990, we would have an “official” inflation rate of more than 17%. What will the Fed and the government do now? This time, it is unlikely that the government will step in to save investors. Additional fiscal stimulus would likely drive inflation even higher. And in the face of high inflation, the Fed’s response is money destruction, not money creation. Investors, therefore, are in a very tough place.
$Over the past 10+ years, there has been a growing movement of people adopting a low-time-preference strategy of saving and investing with the goal of achieving financial independence early in life, putting themselves in a position to retire earlier than the traditional age of 65. Hence the acronym, FIRE: Financial Independence, Retire Early. Bitcoin allows you to mitigate the certainty of dollar debasement without exposing yourself to the risks of investing. A deep dive into the bitcoin rabbit hole tends to lead to the conclusion that its adoption will continue apace, leading to its value rising exponentially. Bitcoin represents the greatest asymmetric bet the world has ever seen.
Tweets: @ts_hodl $The U.S. Federal Reserve is now operating at a financial loss, and is months away from having negative tangible equity for the first time in modern history. This article explores how we got here and to what extent any of this matters for savers and investors. The Federal Reserve’s soon-to-be negative tangible net equity won’t matter at first, and for most people won’t even be noticed. However, over the long-term, this is actually somewhat relevant. By the end of this decade, I have considerable concerns regarding a fiscal spiral occurring in the United States and other developed countries, meaning that a combination of high deficits, high debts, and high interest rates on those debts, will all work together to create structural inflation and money supply growth.
$The longstanding compromise on transaction sizes, how Taproot and SegWit inadvertantly blew it up, and the nascent NFT protocol emerging in its wake.
Tweets: @resistancemoney @AsherHopp $Abstract: In this piece we explore why Dapps are typically built on Ethereum rather than Bitcoin, which takes us all the way back to March 2014. We examine a debate about whether and how a Dapp protocol called Counterparty should use Bitcoin’s blockchain. This was sometimes called “The OP_Return Wars”. We explain the history of OP_Return usage and sidechains in Bitcoin. We conclude by arguing, whether one likes it or not, that it was the culture in the Bitcoin development community in 2014 and the negative view of using Bitcoin transaction data for alternative use cases, which played a major role in pushing developers of these Dapps onto alternative systems like Ethereum, along with other factors.
Tweets: @fiatjaf @resistancemoney @benthecarman @alexbosworth @brian_trollz @astridwilde1 @BitMEXResearch $Part I of the two-part series covers the following topics: (1) The History of Debt in Bitcoin Mining (2) Principles of Debt: Capital stack overview, Creditworthiness, Collateral, Covenants, Cost of capital, Back-end financing (3) Debt Products for Bitcoin Miners: Asset-backed debt, Corporate Debt and (4) Summary Comparison.
Tweets: @BraiinsMining @BraiinsMining @emilyjnicolle $Disconnect from price. Secure your bitcoin for the next 10x. Avoid short-term capital gains. Tread carefully with lending opportunities. Develop your own market analysis. If you want to truly change your fortune, use your bitcoin journey as an opportunity for education, rather than a search for overnight riches. Develop new skills. Keep learning about money, technology, economics, and all the problems Bitcoin was designed to solve. The more you understand and appreciate bitcoin, the closer you come to making a splash of your own.
$The US debt ceiling is in the news again due to Congressional gridlock, along with the possibility of a US sovereign default and the unintuitive idea of the US Treasury Department minting a trillion-dollar platinum coin to bypass the problem. This article breaks down some of the nuances involved in this strange situation, which comes up every few years.
$We Bitcoiners are in a race. Perhaps the most important race we will ever run. We are racing against time to drive the adoption of Bitcoin as fast as we can. We are racing toward a future in which the U.S. Government never coordinates a concerted attack against Bitcoin and Bitcoiners. This is a race to avoid a war. Although Bitcoin is destined to win, if we lose the race to avoid the war, victory will be far more costly. This would be the long way — and the hard way. Instead of a sprint to a bright, orange future, we would be embroiled in a long, hard confrontation with a government desperate to hold on to the power of the monetary printing press. If we lose the race, the long, hard path will be a war in which hundreds of millions of people will suffer the decivilizing and impoverishing effects of hyperinflation. So, for those of us alive, for those of us ready and able now, it is vitally important to run this race as well as possible.
$This article explores technical analysis of mining behavior exhibited by an entity that is plausibly Satoshi Nakamoto. The major conclusions are: - Their goal was to keep the "heartbeat" of the network alive while it was being bootstrapped. - They mined on a single machine with a maximum hashrate of 6 Mhps. - They could have easily earned more than twice as much BTC if they had mined at full power. - They did not want to be in a position of dominating the network hashrate, but may have felt it was necessary during the earliest days when the network was far more fragile due to having fewer than five miners. - They cared a great deal about difficulty adjustments. The adjustment algorithm was one of Satoshi's greatest innovations and they opined upon the topic more than almost any other. - They wanted as many people to be able to mine on home PCs as possible (Satoshi decried the FGPA / GPU mining race)
$Exasperated with a conversation, I asked my friend directly, "What do you think the probability is that Bitcoin hits $1M per coin?" My friend replied without hesitation, "0.001%." I laughed and said I put it at 80%. We had a conversation about my friend's skepticism, and I wondered if there was some information asymmetry, or if it was self-motivated beliefs. My friend group is full of people like this, highly intelligent and successful, yet resistant to Bitcoin. I've found it to be a topic of fascinated frustration. I believe that my friends are resistant to Bitcoin because of their trust in the current system, and see Bitcoin as a radical departure from it. In contrast, I see Bitcoin as a necessary response to the flaws in the current system and a trust-minimized store of value.
Tweets: @BitcoinAudible @sunny_satoshi @sunny_satoshi @epodrulz @stephanlivera @TheGuySwann @petermiyoung @jakeeswoodhouse $Many speculate that Bitcoin’s security will lapse with the end of the mining subsidy. But other factors will continue to incentivize miners. Two prominent and likely factors are: (1) Higher transaction fees due to base layer settlement activity for higher layers which in turn is the result of increased adoption and (2) Bitcoin miners can act as an auxiliary tool for other business practices, an example being the highly-overlooked development in the mainstream involving the Bitcoin miners’ incentive to pursue stranded, wasted or excess energy.
$Bitcoin provides the ultimate form of transferable value because it preserves the encapsulated wealth. This is an opinion editorial by Leon Wankum, one of the first financial economics students to write a thesis about Bitcoin in 2015.
$After years of learning, I now devote a fair amount of my time trying to help others understand bitcoin better. While many people have referred to me as a “bitcoin expert,” I still consider myself a student – I have yet to determine how deep the rabbit hole goes.
$The precursors of money, along with language, enabled early modern humans to solve problems of cooperation that other animals cannot – including problems of reciprocal altruism, kin altruism, and the mitigation of aggression. These precursors shared with non-fiat currencies very specific characteristics – they were not merely symbolic or decorative objects.
$Some thoughts on FTX... Subprime meets Enron meets Madoff - on steroids thanks to altcoins... A recipe for disaster... Framing the conversation: Key challenges for Bitcoin... Potential negative impacts of the FTX collapse... Ultimately, the impact is very positive... Is regulation the answer?
$The IMF and World Bank do not seek to fix poverty, but only to enrich creditor nations. Could Bitcoin create a better global economic system for the developing world?
Tweets: @LynAldenContact @LynAldenContact @LynAldenContact @gladstein @gladstein @steve_hanke @reuters $I selected these quotes from this amazing book by Saifedean AMMOUS. They offer only a glimpse of the richness of the book that is an absolute must read.
$Sam Bankman-Fried is a con man and fraudster of historic proportions. But you might not learn that from the New York Times, CoinDesk's Chief Insights Columnist David Z. Morris writes.
Tweets: @jemenger $Bitcoin is a dangerous place. There is an endless list of hacks, scams, and thefts. Bitcoin promises a network with distributed trust. You know why? Because other bitcoiners exist.
$