Humble Bitcoiners!
It's Wednesday! Get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal! |
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Today's Rundown: - DIY Hardware Wallet:Â Protect your private keys in an entropy-preserving way.
- IMF Hates Bitcoin?:Â Bitcoin defies the IMF's seek of control.
- Bank's Adoption: Regulators are exploring how banks can hold bitcoin.
- Adding Capacity: Bitfarms is building two new mining arms with 78 MW capacity in Canada.
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How To Set Up And Use The SeedSigner Bitcoin Hardware WalletÂ
By Alex
With Bitcoin, you are your own bank — it demands you to take financial responsibility of your own digital property, and there is no service line to call if you fail to store your funds properly. It is very important to be able to have different levels of security for long-term and short-term funds.
The author brings us a tutorial on how to create a DIY bitcoin hardware wallet with SeedSigner, the new kid on the block. Some of the benefits are: - It’s cheap to make (costs $50)
- It allows for QR communication between the device and the computer
- It is non-persistent
- It’s a bring-your-own-entropy (BYOE) device
- It is made of general purpose hardware
DIY hardware wallets are clearly not for everyone, but it is important that they exist. Having this cheap optionality, forces private hardware wallet companies to maintain being open source, and to monopolize prices, which is ultimately good for the market. |
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LEARN & EARN BITCOIN - Chance to win ⚡️1,000,000 sats! |
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The IMF Hates Bitcoin Because It Loves Total Control
By Shawn Amick The International Monetary Fund (IMF), by their own definition, is an organization of 190 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth and reduce poverty around the world. As pretty as it sounds, the author's thesis is that the incentives seem to go beyond helping society, with an aim to maintain a global monetary control over the entire population.
The danger lies with the entity's power to create money out of nothing, and make loans to developing countries, when the probability of them defaulting on them is quite high, and could ultimately end up harming more than helping them, by trapping them into a debt of which they can't escape from.
Because of this, the articles thesis is simple and straight forward — the IMF pursues control, and it hates bitcoin because it provides freedom with a decentralized, fair programmatic monetary policy where no entity is above all others.
"Bitcoin fixes this."
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Click the links:
1.The creation of the Bitcoin network gave realization to the first peer-to-peer consensus mechanism upon which all other DAOs are built.
2. Bitcoin is the sound money that the Muslim world needs to accelerate into the future.
3. Discussing Bitcoin, Bitcoiners, And Citadels with Alex Svetski.
4. River Mining seeks to take the hassle and complexity out of bitcoin mining while allowing clients to own their rigs.
5. Bitcoin is a universal consensus that could be a framework for grand operations of connectivity.
6. The “Federal Reserve” is a story of insiders and outsiders, and the attempts of those in power to maintain and concentrate it. |
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Bitcoin brings decentralized finance. As adoption surges, we have seen an increased level of demand for bitcoin-denominated loans and bitcoin as collateral for both trading and lending. Companies like Blockfi and Genesis Digital Assets are some of the companies offering these services — for example the results in Q2 from Genesis's digital assets lending loan portfolio: - $8.3 billion active loans
- 42.3% of these loans are denominated in bitcoin ($3.5 billion)
These services create pressure for the banks, as people decide to find substitutes for better services outside of the financial system, and now we have seen a push for better regulations, and a desire for banks to adopt bitcoin, instead of banning it. "If we don't bring this activity inside the banks, it is going to develop outside of the banks...The federal regulators won't be able to regulate it." - Jelena McWilliams, Chair of the FDIC. |
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BITCOIN MAGAZINEÂ is back in print! |
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BIitfarms Building Two New Bitcoin Mining Farms Of 78 MW Capacity In Canada
By Namcios Bitfarms, a bitcoin mining company, announced they are constructing two new mining farms in Sherbrooke, Quebéc, which will be likely completed in the first two quarters of 2022 housing a total of 78 megawatts of power capacity.
The company will be increasing the capacity in a cost-effective manner, as they add 21,000 bitcoin miners with their assured contract of green hydro power supply at an average cost of $0.04 per kilowatt hour.
“Similar to all our other Québec farms, they will be passively cooled by the Canadian climate, reducing total energy consumption and operating costs" - Emiliano Grodzki, CEO of Bitfarms |
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By Bam
Every day is a good day to buy bitcoin, but buying the dips feel good indeed.
El Salvador is now a proud owner of 1,120 bitcoin worth close to $66 million.
It is not getting easier to accumulate bitcoin..
Keep Stacking! |
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Keep on reading, keep on stacking. |
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