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Humble Bitcoiners!
It's Thursday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
Sats stackers seem to be holding the line. |
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Today's Rundown: - Volcano Vibes: Mining Bitcoin with 100% clean and reliable energy.
- Bitcoin Airdrop: Missouri Mayor to give $1,000 in bitcoin to every household.
- New Guy In The Block: Ukraine on building a digital future with bitcoin.
- Bitcoin-Dollar: The future of currency being tied to a system of energy storage.
Let's do this. |
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President Bukele Begins 100% Renewable Volcano Bitcoin Mining In El Salvador
By Alex McShane On Tuesday, Nayib Bukele, President of El Salvador, released a new video showing a geothermal facility with Bitcoin mining machines operating on the side of a volcano. With more than 2 million views, the world is aware of El Salvador's intent on becoming the "Singapore" of Latin America.
In just 4 months, the president has managed to: - Make El Salvador the first nation to adopt bitcoin as Legal tender
- Distribute $30 worth of bitcoin to more than 2 million El Chivo App users.
- Become the country to hold bitcoin on their reserves.
- Begin preparations to mine bitcoin with geothermal energy.
“It's just the Earth's energy. And it works 24/7, 365 days a year. It will probably work for the next 500 million years, or whatever, just before the Sun absorbs the Earth or something. So, it's going to be there; it's there 24/7”. - Nayib Bukele on geothermal energy. |
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Missouri Mayor To Give $1,000 In Bitcoin To Every Household
By Alex McShane Missouri Mayor Jayson Stewart plans to give every household in Cool Valley $1000 worth of Bitcoin. Cool Valley, Misouri is a small town with about 1,500 residents only, but this could become the highest dollar denominated bitcoin giveaway straight from the government.
Jayson started planning to put Bitcoin on the towns reserve, but as there were many hurdles, he later decided to give it to the people instead. Parts of his plans include educational workshops for people to learn: - How to use bitcoin.
- How to store it
- The benefit of storing it for a long time.
“It's given me a hope, and an optimism that we can overcome some of the worst parts of the system that we're born into, and actually create a future exactly how we want it to be. There's a certain level of hope and optimism that I get from Bitcoin.” - Jayson Stewart |
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Click the links:
1. During an interview at the invite-only Code Conference in Beverly Hills, Elon Musk said the government should steer clear of trying to regulate bitcoin and cryptocurrency.
2. FEDWATCH: Evergrande cannot be viewed correctly except in the context of the overarching economic situation in China.
3. Perhaps the best way to denominate bitcoin is a separation that displays both BTC and sats.
4. The cofounder of a private equity firm, Thoma Bravo told CNBC that institutional adoption would fuel higher prices.
5. While financial institutions and on-ramps can be banned, the Bitcoin P2P networkis immune.
6. The prices of ASICs, computing components central to bitcoin mining, have surged this year. But why? And where will they go next?
7. Australian-based bitcoin exchange Amber is set for its U.S. launch in 44 states via a public beta release.
8. Umbrel partnered with The Bitcoin Machines to offer a plug-and-play all-aluminum node and server combo.
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Ukraine Is Building a Digital Future With Bitcoin
By David Kirchenko Embracing Bitcoin could be Ukraine’s greatest geopolitical move to usher in a prosperous future.
Ukraine is preparing to legally allow Bitcoin to be used in the country. After the implementation of bitcoin as legal tender in El Salvador, Ukraine's Parliament passed a legislation which protects owners of virtual assets and exchange platforms from fraud. The idea is for the country to make a transition to a fully digitized economy and deem bitcoin as legal tender.
The country seems to have been keeping track of the geopolitical developments, as their Ministry of Energy argued that "bitcoin mining is a contemporary and efficient way to use excess energy." The country generates more than half their energy with nuclear reactors, and its state-run firm operating them has posted losses over $170 million in 2020. This setts them up in a good position to use bitcoin as a way of stabilizing the grid without stoping their energy production, and to turn around their balance sheet back into profits through bitcoin mining. |
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The Birth Of The Bitcoin-Dollar
By Mark Goodwin Bitcoin represents the next evolution of the American currency being tied to a system of energy storage. In the article, the author lays out a thesis on how United States is making a transition from the petrodollar, to the bitcoin-dollar.
Goodwin explains how the previous empire of government expenditure through the petrodollar is being supplanted by the bitcoin-dollar, or the U.S. dollar tethered stablecoins. BTC/USD pairs are by far the majority of volume on the global market. By creating this pseudo-monopoly in the bitcoin onramp and through the arbitrage opportunities that presents, Tether has once again established an ever-present demand for an inflating currency, all tied to a measure of energy.
"...when bitcoin retracts, arbitrage opportunities now exist for the dollar system to inflate further into the hard-capped, ever-demanded monetary system of Bitcoin." - Mark Goodwin |
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By Bitoinator
Bitcoin will create unity in the world, allowing people to live more prosperous lives as they are no longer ruled by the constraints of central banks, living under inflationary currencies which benefit the few at the expense of the many.
Bitcoin is freedom. |
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