Happy Friday, Bitcoiners!


Remember, all banks are closed tomorrow. Have a Bitcoin weekend!
🚨 ALL TIME HIGH - Bitcoin's overall hash rate climbs to new highs ultimately strengthening the network
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📝 Today's Rundown
  • ♻️ Climate Push: Climate groups want to influence institutions such as Fidelity and BlackRock to push Bitcoin to switch from PoW to PoS.
  • 💻 Corporate to Bitcoin: The traditional path American society set out for you and your career is designed to suppress you. Bitcoin frees you.
  • 🌪️ Inflation Hurricane: While would like you to believe that inflation is slowing, but current policies make the problems worse.

♻️ CLIMATE PUSH

Greenpeace Intensifies Campaign Against Bitcoin Following Ethereum's Merge
By Shawn Amick

Greenpeace and the Environmental Working Group have intensified their attack against Bitcoin’s proof-of-work (PoW) with a $1 million ad campaign, per a press release.

The climate groups are pushing for institutions such as Fidelity, BlackRock, Block and PayPal to influence the Bitcoin protocol. The group's intentions are to have these institutions somehow help change the consensus mechanism from PoW to proof-of-stake (PoS).

The intensification of an attack that began in March with the launch of the “Change The Code, Not The Climate” campaign follows today’s completion of the Merge, an event which changed the consensus mechanism of Ethereum from PoW to PoS.

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💻 CORPORATE TO BITCOIN

Why I Left My High Paying Engineering Job In Corporate America For Bitcoin
By Eric Podwojski

December 2019 — I was sitting in my manager's office getting ready to have a discussion about a possible promotion, year-end bonus and salary raise. At the time, I was almost two years out of college in my first high paying job out of school. I was working as a civil engineer designing gas pipelines outside of Washington, D.C.

My manager at the time was a well respected professional engineer with more than 15 years of experience. He slipped me a torn piece of yellow paper at the beginning of the meeting that stated “8.2% + $500 + Sr. Design Engineer.” That was my reward for almost two years of hard work and dedication at this engineering firm. I wanted to scream in his face but decided to calmly explain how a typical promotion salary raise is 10-20%, inflation runs at least 2% per year and the bonus is appreciated but not significant. His response was “meh,” and I left that meeting realizing this system I played into my whole life was designed to keep me down. I was ready to change that.

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📰 THE DAILY BITS

1. Baltic Honeybadger 2022: For Bitcoiners, The Yield Is The Friends We Make Along The Way

2. DAY 6 of the Hodlonaut v CSW trial is underway in Oslo. Join Bitcoin Magazine on YouTube to follow live.

3. As the Bitcoin network replaces our current system and becomes the unit of account for the world, everything else will fall in price indefinitely.

4. White House publishes framework for regulation of digital assets citing "Digital assets pose meaningful risks" while a "US CBDC has potential to offer significant benefits."

5. August CPI inflation data was worse than expected and the markets repriced in response. Bitcoin falls more than 10% and the S&P 500 closes down 4.3%.

6. Yet another Bitcoin futures ETF is set to launch in the US, but still no signs of spot ETF approval on the horizon.
🌪️ INFLATION HURRICANE

Consumers Are In The Eye Of The Inflation Hurricane
By Marty Bent

The August 2022 consumer price index (CPI) print was released on Sept. 13, 2022, and it came in at 8.3% year-over-year growth, and shocking all of the talking heads who were certain that inflation was due to slow down as all of the demand destruction the Federal Reserve has been attempting to manufacture would begin to hit the markets. Markets did not react well to the higher-than-expected print with all major indices falling around 4-5% across the board.

What's worse, the reported figure of 8.3% seems to be severely underreporting the actual level of price inflation that consumers are experiencing at the moment. I think it's safe to say that the basket of goods listed above can be considered essential goods to anyone attempting to live a life of relative comfort.

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