Hello Humble Bitcoiners!
The weekend is over. We now return to our regularly scheduled Bitcoin daily signal.
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| 📝 Today's Rundown ♻️ Recycling & Mining: Inspired by El Salvador’s Bitcoin Beach, a town in Guatemala is focused on cleaning its lake by diverting used cooking oil to bitcoin miners. 🏦 Replacing Swift: Bitcoin is a perfect fit as a means of exchange for entities who would traditionally make up the majority of transactions on SWIFT. 📉Spotting The Bottom: After the September FOMC meeting, Bitcoin Magazine Pro recaps the medium-term thesis for bitcoin and how to think about the looming macro volatility. |
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| Connecting People, Policy and Bitcoin Join us at the South Carolina Bitcoin Blockchain Conference on October 5-7 in Charleston, SC to explore the change and promise the Bitcoin Blockchain industry is already bringing to South Carolina & World. Topics include economic development, education policy guidance, and fostering investment in South Carolina. |
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Visit The Guatemalan Lake Town Mining Bitcoin With Used Cooking Oil
By Namcios A small Guatemalan community has created a circular bitcoin economy that is repurposing a resource that would otherwise be wasted and polluting the waters of a local lake.
The “Bitcoin Lake” project not only prevents pollution and reuses otherwise wasted resources, but it also gives financial autonomy to the community and demonstrates a viable economic path outside of the government-controlled economy.
“Everything we do in the community is related to bitcoin. It is either funded by bitcoin, teaches about bitcoin or is taught or implemented by bitcoiners,” Melder told Bitcoin Magazine. |
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Bitcoin Will Replace Swift Before It Replaces Visa
By Shinobi Sound money has to be easily exchanged. With the development of the Lightning Network, the notion of bitcoin as a means of exchange has been taking off. In El Salvador, Bitcoin is legal tender and it has been demonstrated that it can be used for everyday payments.
However, there is a massive portion of the world’s economy that Bitconers tend to ignore. SWIFT processes around $5 trillion dollars of payments each day, where very large value payments account for the vast majority of the world’s transacted value. Entities and big players account for 95% of the transacted value via SWIFT. In other words, most of the transacted value worldwide is made in a few transactions.
People act like Bitcoin has to hit the point of hyperbitcoinization in order to become a major backbone of processing payments in the world, or to become a system as important to the economy as SWIFT. It does not. Bitcoin and Lightning have already the potential to replace SWIFT and become the world’s economic backbone. |
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1. It’s high time to move the discussion on Bitcoin user interfaces and experience over to nodes.
2. A recent column by the Financial Times’ Jemima Kelly demonstrated some misunderstandings about Bitcoin’s decentralization and singularity.
3. After years of oppression and nation-state level gaslighting, Bitcoin represents new hope for Central America.
4. Hash rate hit an all-time high, miners seem to be done selling bitcoin, institutions are still interested and long-term holders continue to stack sats.
5. Singapore’s largest bank expanded its members-only digital exchange to 100,000 more clients.
6. Calling bitcoin miners bitcoin validators will improve the public's perception on proof-of-work (PoW) and prevent the framing effect from occurring.
7. Bitcoin is a powerful tool for businesses and services seeking to operate on the best monetary standard for their customers.
8. It is important for Bitcoiners to utilize existing systems of enacting change to create the best possible environment for adoption. |
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| The Federal Reserve decided to go on a rate hike of 75 basis points, and with it, pain has flooded the markets. Risks assets have been and are likely to continue with a downward trend, as rates will also continue to raise.
The question remains what does this mean for bitcoin? The authors express that even with a long-term bull bitcoin outlook, the macroeconomic headwinds are taking the driver's seat and an ultimate panic moment is likely yet to arrive.
Whether the price drops or not in the short term, on-chain indicators have proven to be useful for long-term value buying opportunities. For those who see this as the time to get undervalued bitcoin, it might be a good time to focus on accumulating, as the price ranges under bitcoin's realized price. |
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Bitcoin's innovation came together with its "immaculate conception". Creating decentralised money is not something one issues and sell to the population. Bitcoin's creation & appreciation is based on a free market, with people knowing in advance when was the software going to be available, and appreciating solely by free market.
Quite unique.
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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