Humble Bitcoiners!
It's Wednesday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
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Today's Rundown: - Tesla's Vison:Â Bitcoin can enable Nikolai Tesla's vision of a peaceful, abundant energy future.
- Benchmarking 50:Â Price crossing 50K for the first time since legal tender.
- Housing Sats: The Lightning Network now holds over 3,000 bitcoin.
- Banks On Bitcoin: Fifth largest retail U.S. bank joins the Bitcoin network.
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Bitcoin Embodies Nikola Tesla's Vision For Peace And Energy Abundance
By Level39 "As an arbiter of truth for the most reliable and cheapest forms of energy, Bitcoin can enable Nikola Tesla’s vision of a peaceful, abundant energy future."
Nikolai Tesla seemed to have a vision for peace and abundance for humanity. He believed that only through a mechanism that allowed humans to be removed from the battlefield altogether, with machines competing against each other with a maximum rate of energy delivery, humanity could finally end wars and bloodshed, and bring about global peace.
In some way, his vision was the Bitcoin Network, a system where confiscation through war becomes inefficient or impossible, and the incentives change. The drive comes from being able to capture the most amount of cheap energy production and storing it in its purest form to be able to transport it across space and time. With bitcoin, wars turn to be unnecessary, and peace could finally be achieved.
Tesla envisioned machines of "maximum … energy-delivery," that were "embodying a higher principle." Bitcoin can be described similarly. As Robert Breedlove has tweeted, "As a claim on human productivity, money is the highest form of energy mankind can channel." - Level39 |
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Bitcoin Crosses $50K For The First Time Since El Salvador Adoption
By Alex McShane
The Bitcoin price crossed $50,000Â with full strength, almost one month after El Salvador adopted it as legal tender. As El Salvador adopted bitcoin, the price started to plunge, making the country, the first nation to "buy the dip." Nayib Bukele's move was heavily critiqued, which is understandable, as bitcoin's volatility isn't easy to stomach.
El Salvador showed a low time preference and a speculative attack by exchanging a weaker currency for a harder one, and results are starting to show as they own 700 units of the scarcest decentralized cyber asset known to humanity. |
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Click the links:
1. Twelve years ago today, pseudonymous Bitcoin user NewLibertyStandard published what is likely the first pricing of Bitcoin in US Dollar terms.
2. Hodl Hodl, the p2p bitcoin trading and lending platform has successfully closed a Series B funding round of an undisclosed amount.
3. The 501(c)3 organization has begun accepting bitcoin and cryptocurrency donations through a partnership with The Giving Block.
4. Two Latin American developers discuss how their projects are building on the adoption of Bitcoin in the region.
5. The economic rule discussed in a previous article doesn’t take these two factors specific to bitcoin’s situation in El Salvador into account.
6. “The State of Lightning” report shows how the Bitcoin layer-2 is evolving to become the native transaction rails of the internet.
7. Organizers of two fantastic Bitcoin conferences coming to El Salvador this quarter described their upcoming events.
8. Bitcoin's realized market capitalization, a measure of the average cost basis for all bitcoin on the network, has broken its all-time high and hit $400 billion.
9. As the Facebook, Instagram, WhatsApp shutdown demonstrates, the COVID-19 pandemic may just roll into a cyber pandemic. |
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Lightning Network Now Houses Over 3,000 Bitcoin
By Namcios The Lightning Network gains popularity as it becomes adopted nationwide. With 3,000 bitcoin offering liquidity to more than 77,000 channels, the network capacity has more than doubled since June, while the channels nearly tripled since the beginning of the year.
While bitcoin is considered the hardest asset and the best store of value, with Lightning, it enables it to be used as a Medium of Exchange, offering freedom and property rights to anyone by simply having access to a smartphone. |
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Fifth-Largest U.S. Retail Bank To Launch Bitcoin Custody Services
By Alex McShane The fifth biggest retail bank in the nation, U.S. Bank, announced that its Bitcoin custody services are available to fund managers. Throughout a partnership with NYDIG, the bank will be able to offer custody services by using mutlisignature Bitcoin private key solution.
U.S. Bank, with more than $8.6 trillion in assets under management, shared their growing interest into investing in a Bitcoin ETF, as the demand from their customer rises.
“Our clients are getting very serious about the potential of cryptocurrency as a diversified asset class.. I don’t believe there’s a single asset manager that isn’t thinking about it right now.” - Gunjan Kedia, Vice Chair of the Bank's Wealth Management |
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By Lil Udi Vert
The traditional financial markets are experiencing some shaky times. While this happens, bitcoin is unbothered.
It is that simple — bitcoin came and conquered, as the hardest monetary asset ever existed in human history. If you are not paying attention, you should be.
Stack harder. |
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