Hello Humble Bitcoiners!
Monday, a day of humble beginnings and rejuvenation. Let's kick off the week with some Bitcoin signal!
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| 📝 Today's Rundown $1.2 Billion Hole: Celsius files for Chapter 11 bankruptcy. The company’s balance sheet shows a gap of $1.2 billion and reckless behavior with customer deposits. Bitcoin Amsterdam: Bringing the Bitcoin Conference to the European stage with the goal of “No region left behind.” Exchanging Bitcoin: RoboSats is a project that allows users to generate fun pseudonymous avatars that can facilitate KYC-free bitcoin trades. Beyond kWh: KWh aside, there are other important factors for miners to consider in both the choosing of their machine and the operational decisions they make. |
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Celsius Bankruptcy Shows Reckless Behavior With A $1.2 Billion Hole In Its Balance Sheet
By Dylan LeClair and Sam Rule After some weeks of chaotic drama in the bitcoin & cryptocurrency space, and people unable to access their funds hosted in third parties, the harsh news finally hit in. Celsius Network, the lending platform, has filed for Chapter 11 Bankruptcy protection.
Alex Mashinsky followed up the filing with an official statement, and here are some of the key points worth to know the entire situation about the firm
Celsius: Has a $1.19 billion hole in its balance sheet. Considers $600 million worth of CEL as an asset, making the situation even worse. Engaged in collateralized lending with customer deposits to invest in a mining operation through a $750 million credit line. Admitted to take customer funds and speculate with them in various futures instruments. Lost private keys of 35,000 ether. The whole situation continues to look dire, and it should serve as a reminder that bitcoin is the greatest performing asset of the decade, and it does not need yield. |
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We're Bringing The Bitcoin Conference to Amsterdam
By Chris Smith Bitcoin Amsterdam is going to make history in Europe, October 12-14, 2022. This will be a monumental event uplifting the trek of bitcoin to all nations and adoption to all people. With the magic that the team behind Bitcoin 2022 has brought in the past, the aim is to bring this same energy to the European stage with the goal of “No region left behind.” Hyperbitcoinization is not just an end goal, but a journey that is taking place right now. As bitcoin continues its world tour, the conference hopes to be alongside it every step of the way. Learn more about it, get involved and come join us in Amsterdam this year.
Less than 90 days until Bitcoin Amsterdam.
Reserve your tickets today before prices increase on Friday! |
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RoboSats: Exchanging Bitcoin Easily, Privately And KYC-Free
By Okada Privacy is a fundamental necessity to achieve true freedom, which is the purpose of Bitcoin in the first place. However, Bitcoin is not completely private and could easily be traceable if users allow it to be. Giving aways sensitive data to be able to transact in the Bitcoin networks is possibly the most common mistake done by newcomers when registering to an exchange and that obstructs the main purpose of Bitcoin. Fortunately, there are Bitcoin developers dedicated to remedy this aspect of the ecosystem.
RoboSats is a fully open source project that functions as a peer-to-peer exchange between Bitcoin and national currencies. RoboSats allows users to transact through lightning network invoices in an easy, KYC-free and private manner. It works similarly to eBay or Craigslist in terms of seamlessly facilitating consumer-to-consumer sales between complete strangers online, however, RoboSats does not collect sensitive user’s data.
In this article, Okada explains everything you need to know about RoboSats, how it works, why it is important, its limitations and more. |
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1. The true cause of bitcoin's recent pullback and how the Davos globalist agenda plays a role.
2. Using a managed multisignature solution is a way for the less technical Bitcoin users to protect themselves from centralized, third-party security holes.
3. In addition to profits, bitcoin mining can also offer consistent electricity demand and can clean up the air by utilizing electricity made from wasted methane.
4. Bitcoin ATMs allow users to purchase and sometimes sell bitcoin for cash in physical locations around the world.
5. Bitcoiners must take the plunge of no return and enter a world where bitcoin is the only form of money they interact with.
6. Whirlpool gives a certain level of privacy when using bitcoin, and forward-looking anonymity sets are a measure of how well hidden you are. |
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| A cheap rate per kWh does not necessarily mean a profitable Bitcoin mining condition and considering only the kWh rate of your electricity provider as a single determining metric when deciding what kind of hardware to purchase and use to mine Bitcoin is both naive and financially reckless. There are many other factors to consider when it comes to determine what would be the best set up for your Bitcoin mining rig.
Uncontrollable factors such as humidity, temperature, altitude and other environmental conditions, grid level supply issues, geography and geopolitical disorder, between others can easily invert even the most optimal contract for a cheap kWh rate and leave operators losing money with no alternative. All miners should consider these kinds of factors when choosing which machines to purchase and operate. |
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By GoBrrr
Bitcoin maximalism has lately been highly critiqued a portrayed as a toxic community. Somehow being harsh and mean in the internet while advocating for holding your own keys and staying away from sketchy projects is wrong, but advocating for the kind of projects which made people lose all of their live savings in the pursuit of some yield, is declared innovation.
Take custody of your bitcoin!
With love,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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