Staying Humble In A Bull Market
Being best prepared for the bear market begins with your actions in the bull market. By staying humble and keeping the volatility of bitcoin in mind, one can prepare in ways that prevent needing to sell bitcoin to cover your expenses. 
📝 Today's Rundown
  • 📊 Six Bitcoin Mining Charts: These charts reflect the state of the bitcoin mining in the bear market. 
  • 🇰🇿 Kazakhstan Legislation: More restrictions for Bitcoin miners in the country.
  • 🏰 Sand Dollar Castles: How stable coins and the unstable con, SBF, built a corrupt castle of sand.
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📊 Six Bitcoin Mining Charts

These Six Charts Show How Bitcoin Mining Is Enduring The Bear Market
By Zack Voell

The bitcoin mining industry is obviously very closely correlated with the price of bitcoin itself. As the price of bitcoin has taken a substantial hit over the last few months, so too has the mining industry. 

Zack Voell, who regularly writes on mining for Bitcoin Magazine, details six different charts that show metrics indicating the health of the mining industry during the current bear market. It of course shows the pain felt by the industry, but also shows what could be healthy restructuring for the future. 
Read The Full Article

🇰🇿 Kazakhstan Legislation

Kazakhstan Presses On With Restrictive Bitcoin Mining Regulation
By BtcCasey

Kazakhstan, a central Asian country bordering China and Russia, continues to crack down on bitcoin mining with regulation that further stifles the industry.

After China's bitcoin mining ban in June of 2021, large amounts of hash rate began to migrate to Kazakhstan.

At the same time, the country experienced widespread energy instability, shortages and related protests. In order to regulate the amount of energy bitcoin miners use, Kazakhstan has began requiring new electricity purchase agreements with a specific provider, Korem, while also requiring new licensing based on operation structure. 
Read Full Article

📰 The Daily Bits
📣 Senator Lummis: It’s starting to look like only bitcoin would qualify as a commodity.

🆓 Claim a 30-day FREE trial to the Bitcoin Magazine PRO substack for insights into the bitcoin market.

👁️ Visualizing the humble Megawatt (MW) with Robert Warren.

💸 Bitcoin Magazine's guide to DeFi on Bitcoin and how to get a bitcoin-backed loan. 
Learn More

🏰 Sand Dollar Castles

Castles Made of Sand Dollars: SBF, FTX, And Other Three Letter Agents
By Mark Goodwin

Two things, both built on shifting bases of sand, have intruded on the main mission of bitcoin: the rise and fall of Sam Bankman-Fried, the founder of the derivatives exchange FTX, and the dollarization of cryptocurrency. 

Bankman-Fried took advantage of his amassed fortuned and the public's trust in FTX to con retail traders. Stablecoins and dollar-denominated trading pairs make up the last majority of cryptocurrency volume these days, while both are subject to regulatory pressure that prevents incentives. Come and chill on this beach of truth with Bitcoin Magazine's very own Mark Goodwin.
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MEME OF THE DAY 

By IFunny

You might be feeling this way right now. Things may seem very far away from where they were in the bull market — but that will change over time as the industry builds and the protocol continues to work unabated. HODL and stay strong! 
 
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