nostr:nprofile1qqsd7gqv4s60d743gfv8x4z09krv6zmn6x02sswcfsrt0ymshw3pfqcppemhxue69uhkummn9ekx7mp0wgl9tg in the wild 👀
nostr:nevent1qqszs08u9hax5nn36l8yfhumnak7hxccgwj4phlvyc22fxeujgxyxqqpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygq8439d3a84m6pkndw2jeatvq6xux3zx33vtkf437z4ep6t72vy2cpsgqqqqqqsyj6dfx
After debasing the GBP for years via money printing, the Bank of England has adopted an aggressive policy of job destruction: via interest rate hikes. It is, ostensibly, aimed at ‘bringing down prices’ and it seems to be ‘working’.
Welcome to the absurd world of Central Planning.
https://m.primal.net/HYoF.png
In just the first four days of operation, the nine new #BTC ETF providers in the US have directed a staggering $3BN in new funds towards Bitcoin. Combined, they are now worth more than the ETFs for silver, and occupy the second spot for the largest commodity ETFs after gold.
This suggests that institutional demand for Bitcoin is potentially enormous, and that Wall St is paying serious attention. Tick tock.
Source: Bloomberg https://m.primal.net/HYTx.png
In just a few short years, Blackrock's Larry Fink has shifted from repeating myths like "Bitcoin is for criminals" to talking about how Bitcoin can help to protect people from inflation.
He figured out he was wrong, reassessed his position, and is now making Blackrock's trillions of dollars in customer AUM available for investing in #Bitcoin.
Everyone will figure this out, eventually.
https://m.primal.net/HXeE.mp4
34 TRILLION USD in $100 bills. Stacks of $1mn, $1BN, $1TR, and $34TR. This is the US National Debt.
Global debt levels - including governments, corporations and households - are now around 10x this.
Every one of these dollars is created as a debt (with interest owed on it). So where does the money come from to repay it all?
Time to pay attention.
#Bitcoin
https://m.primal.net/HWff.png
Jack Dorsey Backs Ocean In Shifting Toward Decentralized #Bitcoin Mining
by @Susie for Forbes.
https://www.forbes.com/sites/digital-assets/2023/12/01/jack-dorsey-backs-ocean-in-shifting-toward-decentralized-bitcoin-mining/
A significant development has taken place in the world of bitcoin mining, with the introduction of a new mining pool called OCEAN. This initiative, receiving substantial backing from Jack Dorsey and other strategic partners, aims to redefine the bitcoin mining process by prioritizing decentralization and miner autonomy. Understanding the fundamentals of bitcoin mining, the role of ASICs, and the dynamics of mining pools becomes crucial in this context, as well as assessing the specifics of OCEAN's launch and its potential impact on bitcoin's price...
#Bitcoin mining could supercharge transition to renewables, study claims - The Independent
Solar and wind energy installations could earn hundreds of millions of dollars by mining bitcoin during periods of excess electricity generation.
Is Bitcoin about to become a core part of the energy grid?
https://www.independent.co.uk/tech/bitcoin-mining-solar-wind-renewable-energy-b2454666.html
Making systems that enable merchants to embrace and use #Bitcoin isn't easy - as this presentation by Benjamin de Waal at the recent Adopting Bitcoin conference in El Salvador shows.
But it is important and someone has to do it.
So we are doing it.
https://www.youtube.com/watch?v=T31EzrZwxPM
The number of companies acquiring #Bitcoin as treasury reserve assets is growing.
The latest is Hong Kong-based game company Boyaa, which has telegraphed plans to acquire $45MN worth of #BTC - a move that would see it ranked 12th in corporate holdings.
https://m.primal.net/HQFt.png
See the others here: https://bitcointreasuries.net/
An Analysis of #Bitcoin ’s Use in Illicit Finance.
Michael Morell, a former acting Director of the United States CIA, investigated #Bitcoin ’s (and other crypto-currencies’) role in illicit activity. What did he find?
• Bitcoin use in illicit activity is far less than many people assume.
• It is likely a significantly smaller share of the bitcoin-economy than illicit use of dollars are vs global GDP.
• Claims about the use of Bitcoin in illicit finance are vastly overstated.
• Illicit activity among all cryptocurrencies as a percent of total cryptocurrency activity from 2017 to 2020 was less than 1%.
• For Bitcoin specifically, CipherTrace estimates that illicit activity makes up less than 0.5 percent of total transaction volume.
Taken together, this report suggests that the illicit use of cryptocurrencies in general and Bitcoin in particular, as a share of total market activity, is certainly not higher than it is in the traditional banking system and is most likely less.
https://cryptoforinnovation.org/wp-content/uploads/2022/07/An-Analysis-of-Bitcoins-Use-in-Illicit-Finance-By-Michael-Morell.pdf
Yesterday evening german politician Joana Cotar MP @JoanaCotar spoke out in the Bundestag against the Digital Euro - whilst wearing a #Bitcoin shirt.
Video and English transcript below.
"Madam President, ladies and gentlemen. Nobody needs the digital euro. Not the banks, not the
companies and certainly not the citizens. Anyone who wants to pay electronically is already doing so
today. Those who want to preserve their privacy use cash. Anyone who has had enough of fiat money
and is concerned with sound money has bitcoin in their wallet.
Nobody needs the digital euro except the ECB and politicians who have something else in mind. Namely
the total surveillance of citizens. I know, a lot is promised: data protection, everything secure. Nobody
has any intention of spying on anyone.
This is all as credible as the great promises: When the euro was introduced, no bailouts, three percent
rule, ban monetary state financing. Today the ECB does nothing else. And the Maastricht Treaty is just
paper.
Today the ECB promises the highest data protection standards for the digital euro and tomorrow every
transaction will be monitored and citizens will be completely transparent. In China, people are very
effectively controlled with the digital central bank money, those who behave in accordance with the state have access to the money, those who don't are unfortunately out of luck.
It's called Social scoring and with the digital euro and it's also possible here without any problems, just
like state control. A flight booking - CO2 budget used up, donating to unapproved organizations is out of
the question. Eating unvaccinated like in a pandemic - the money is not released, a digital nightmare.
And that's why we don't need a binding vote on the how - we don't need the entire digital euro at all.
And that's exactly what the German government needs to fight for. Thank you very much."
H/T @d11n
CEO of #Bitcoin miner Marathon Digital explains how his company is testing the capture of methane from landfill gas (LFG), and using it to reduce electricity costs.
Yet another capability made possible by Bitcoin's unique system architecture.
https://m.primal.net/HPfn.mp4
How is the #bitcoin mining industry innovating amidst rising energy costs and environmental concerns? In her article for Forbes, @Susie shows that:
- Bitcoin miners are adopting advanced cooling solutions, like immersion cooling, to reduce environmental impact and enhance efficiency.
- These technologies are saving energy and extending the life of mining equipment.
- Excess heat from mining is being repurposed for agriculture or fed back into the power grid, turning waste into revenue.
- Strategic relocation to areas with cheaper, renewable energy is bolstering profitability and sustainability.
- Bitcoin miners are partnering with energy utilities to stabilize power grids, providing flexibility in energy supply and demand.
- Techniques like 'underclocking' and 'overclocking' are optimizing energy consumption for mining operations.
- Despite regulatory challenges, the industry remains committed to combining profitability with sustainability.
Bitcoin isn't just sound money - it is on the brink of becoming a strategic infrastructure component in the global energy grid.
https://www.forbes.com/sites/digital-assets/2023/11/06/the-green-frontier-bitcoin-minings-path-to-sustainability-and-profitability/
“CBDCs reduce the cost of authoritarianism for governments”.
An eye-opening discussion about #CBDCs, smart ways we can fight them, and the promise of #Bitcoin.
Featuring Bitcoin Policy UK's Freddie New, Efrat Fenigson, Willem Middelkoop and the HRF's Christian Keroles.
https://www.youtube.com/live/Xj8S034PEGo?si=vDXgTtEJFAzUPh44&t=3612
- 582,000 users🧍
- 70 million notes 📝
- 140 million events 📣
- 33 million public keys 🔑
- 2 million (#BTC ) zaps⚡️
Maybe these sovereign comms and sovereign money folks are onto something after all...
https://m.primal.net/HNtL.png
In the last two years, the #Bitcoin Lightning network has achieved astonishing growth.
- Nearly $1bn routed annually
- Over 1,000,000 active monthly users
- Average Tx size of ~45k sats / $11.84 - allowing Bitcoin to enable low-value payments.
More details in this excellent report by River.
👉 https://blog.river.com/the-lightning-network-in-2023/https://m.primal.net/HNNu.png
"Our existing financial system is a mirage of wealth and liquidity, sustained by an ever-expanding money supply. #Bitcoin emerges as the ultimate shield against the inevitable reckoning that will shatter this illusion."
~ Theo Mogenet
An excellent piece by Axoim Capital exploring how #Bitcoin can remake the global financial structure, and be the best option even for short-term cash holdings.
👇
https://www.axiombtc.capital/orange
Why #Bitcoin is the Currency for #AI.
~ A fascinating conversation with Bitcoin Park’s Rod Roudi, Stakwork’s Paul Itoi, Lightning Labs’ Roasbeef, Fedi’s Kody Low, and ARK Invest’s Cathie Wood, Yassine Elmandjra & Frank Downing.
https://www.youtube.com/embed/IQrRO6FoYl0
#Bitcoin provides opportunities for every nation.
Iceland - ‘the land of ice and fire’ - is now connecting some of its vast geothermal and hydroelectric resources to the network to reduce waste, balance their grid and lower costs.
💧+🌋 = #Bitcoin
https://t.co/MRRFdrdxo1
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