1/ Jack Dorsey’s
@TBD54566975
unit has just announced it is building “Web5”.
This new decentralized web leverages
#Bitcoin
to put users back in control of their data and identity - once and for all.
Here’s a thread with all you need to know 🧵…
1/ Why doesn’t
#Bitcoin
move from proof-of-work to proof-of-stake?
A panel yesterday at the Oslo Freedom Forum
#OsloFF
explained PoW vs PoS in the best way I’ve seen in a while.
A thread 🧵 with quotes 👇
Breaking news:
#Bitcoin
is now officially recognized as a means of payment in Brazil 🇧🇷
The bill was approved today, and now the President’s signature is the last needed step before it becomes law ✍️
Full coverage on my latest for Bitcoin Magazine:
1/ Celsius Network:
Here’s everything you need to know to understand what’s going on.
What is Celsius? What went wrong? What can we learn from it?
A thread summarizing a report
@DylanLeClair_
and I published yesterday for Bitcoin Magazine PRO subscribers… 🧵
1/ Senator Cynthia Lummis
@CynthiaMLummis
has officially released her landmark bill covering
#Bitcoin
and digital assets.
Here are the major points in the bipartisan bill introduced with Senator Gillibrand
@SenGillibrand
.
A thread 🧵…
A new version of
#Bitcoin
Core is here!
Released a few days ago, Bitcoin Core 24.0 brings improvements on usability, privacy and security.
Here’s all you need to know… 🧵
#Bitcoin
game theory is playing out. The network’s incentives are doing their work.
Putin knows that he can’t afford to ban bitcoin or bitcoin mining. No one can. Welcome it or be left behind.
Besides my opinion, here are some facts:
1/ The collapse of Terra, $LUNA and $UST serves as a reminder that “crypto” is an experiment.
Here’s a breakdown of why UST failed and what we can learn from it.
A thread 🧵…
1/
#Bitcoin
-backed US dollars are now live on Lightning ⚡️
Here’s everything you need to know about Stablesats, a new tool that brings USD balances to Bitcoin Beach Wallet users in El Salvador 🇸🇻
A thread… 🧵
O
@nubank
acaba de ativar a função de compra e venda de
#bitcoin
para todos os seus quase 54 milhões de clientes.
Mas não dá pra transferir para uma carteira externa… 🤡
Breaking: Brazilian
#Bitcoin
bill regulating usage as payment gets signed into law 🇧🇷
It comes into effect in 180 days and could increase adoption in the country.
But some important aspects are still TBD.
Details on my latest:
5/ “Energy serves a very important role. It minimizes human governance.
If you remove the energy component, you’re recreating the legacy system but on a blockchain.”
-
@LynAldenContact
3/ “
#Bitcoin
created a triple-entry [ledger] from the old double-entry [ledger] and the ledger self-audits and writes on-chain. It’s an immutable ledger entry that can never be altered.
That’s the best accounting technology that’s ever been created by humans.”
-
@DarinFeinstein
End/ “In my view, money should be depoliticized.
It should be a right to transact with whomever you want in a private way. And that’s been stripped away from us as we’ve digitized finance.”
-
@nic__carter
> wake up
> it’s monday
> checks phone
> new bitcoin ath
> nah can’t be real
> turns on the TV
> trump is live on cnbc
> orange man saying bullish things about bitcoin
> nah can’t be real
> opens twitter
> saylor announcing new 12k BTC purchase
> what is going on
6/ “Basically, PoS relies on circular logic, where the largest coin holders determine the state of the ledger and the state of the ledger determines who the largest coin holders are.
PoS is doing completely different things than what
#Bitcoin
is doing.”
-
@LynAldenContact
1/
@bitfinex
,
@Tether_to
and
@HypercoreProto
today launched Keet, a new P2P chat app w/
#Bitcoin
payments support 🦜
Keet is built on Holepunch, a platform with no blockchain or token that seeks to facilitate the dev of P2P applications 🕳🥊
Here’s all you need to know… 🧵
2/ “Every system that’s existed has been a stakeholder-run system, so they’re all PoS systems.
PoS systems are the legacy systems that existed forever where people that control the coins, the stakeholders, can disrupt the network, change it or shut it down.”
-
@DarinFeinstein
ZK Rollups Are Coming To
#Bitcoin
. Here’s All You Need To Know
Recently, two different projects took turnkey steps into turning this development into a reality for the original cryptocurrency, an advancement that could help Bitcoin scale even more and also provide additional
New: Michael Saylor’s MicroStrategy will offer Lightning services by next year ⚡️
The move is part of
@saylor
’s transition from CEO to executive chairman, which allowed him to focus 100% on
#Bitcoin
Details on my latest for Bitcoin Mag:
1/ Is the
#Bitcoin
bottom behind us?
Miner capitulation & the Hash Ribbons indicator are powerful metrics to spot a bottom in the bitcoin price.
Here’s a thread on what those metrics are and what they’re telling us right now… 🧵
New: Russia is reportedly close to legalizing
#bitcoin
and crypto for foreign trade.
The discussions have lasted almost a year, and began after Western sanctions were deployed in the wake of the country’s invasion of Ukraine.
Details on my latest for BM:
This lake town in Guatemala is mining
#bitcoin
with used cooking oil 🇬🇹
Here’s how they’re proving that Bitcoin can indeed be good for the environment 🍃
1/8 🧵…
8/ “PoW allows everyone to decide on the correct ledger state with no human oversight or governance.
PoS is just a fancy way of referring to shareholder governance or a stakeholder-led system where ownership in the system determines authority in the system.”
-
@nic__carter
9/ “That’s how SWIFT works. That’s how PayPal works. That’s how banks work. Those are all PoS systems.
PoS systems work fine, they just aren’t depoliticized. They don’t allow just anybody to transact.”
-
@nic__carter
Just in: MicroStrategy has sold
#bitcoin
for the first time.
The firm said it did so to get tax benefits. It bought more BTC back a couple of days after selling.
In total, $MSTR added 2,500 more BTC to its holdings to reach 132,500 BTC held.
My latest:
7/ “
#Bitcoin
, without energy, is like airplanes with the flight removed. It’s taking out the key innovation of what makes it so useful.”
-
@LynAldenContact
4/ “So anything that lives on top of this
#Bitcoin
network will be better than the legacy system that it replaces.
And it is only because of PoW that you’re able to have this immutable ledger and all the other layers for financial and economical freedom.”
@DarinFeinstein
New: Japan’s largest power company is mining
#Bitcoin
🙌
TEPCO is running pilot programs across the nation to capitalize on excess energy with $BTC mining.
One farm is already operational in Tokyo 🇯🇵
Details on my latest for Bitcoin Mag:
#Bitcoin
is the only lifeboat available to escape a system that has failed time and again to protect the purchasing power of the people and promote a well-functioning economy.
New: Samsung
#Bitcoin
ETF to go live in Hong Kong 🇭🇰
The futures-based product by Samsung Asset Management is reportedly set to launch tomorrow morning local time.
Details on my latest:
2/ Web5 takes a different approach than Web3.
While Web3 aims to “blockchain” and “tokenize” all things, Web5 uses just one blockchain -
#Bitcoin
- for one specific use case: identity.
Blockchains are not efficient and as such it might not make sense to use it for everything.
Jack Dorsey’s Block is more focused on
#Bitcoin
than ever.
Read details about the firm’s upcoming Bitcoin wallet, bitcoin mining ASIC chip and decentralized exchange in my latest for Bitcoin Magazine:
#Bitcoin
is helping fight fraud in Guatemala’s presidential elections 🇬🇹
You read that right.
A surprising candidate won, and the outcry was massive.
The opposing party claimed there was fraud, the attorney general raided ballot boxes 😳
Thankfully there’s bitcoin. Read on 👇
#Bitcoin
nodes are now one step closer to being able to sync in seconds.
This is game changing.
Light clients can now sync instantly, and full nodes will soon be able to do so as well!
Don’t know what I’m talking about?
Keep reading👇
SCOOP: El Salvador just took the first step to issue the
#Bitcoin
bonds 🇸🇻
The necessary legislation has been presented, and could be approved in a matter of weeks 🌋
Catch the details, and the bill’s full text, on my latest article for Bitcoin Magazine:
Proof of Work or Proof of Stake?
Politicians, environmentalists and organizations such as WEF argue
#Bitcoin
should move away from PoW to favor PoS.
But would it really be a good move?
Read an expanded analysis on the subject on my latest article:
An anonymous activist group is inscribing WikiLeak's Afghan War Logs into the
#Bitcoin
blockchain to protest Julian Assange's imprisonment
An unknown "Project Spartacus" has formed in an attempt to immortalize on bitcoin the thousands of Afghan War logs published by Julian
#Bitcoin
Core 23.0 was released earlier today.
Read about the major changes in the newest major release of Satoshi Nakamoto’s original software client:
13 years ago today Satoshi presented
#Bitcoin
to the world. What started as a niche magic money now has the potential to take over the world.
But it wouldn’t be possible without prior research. Was Bitcoin invented or discovered?
#Bitcoin
company Synonym sent the first USDT stablecoin transaction on the Lightning Network earlier this week to demonstrate how Bitcoin and Lightning could be leveraged for cheap and quick issuance and transfer of tokens and credit:
ICYMI:
@jack
joined
@saylor
earlier today to discuss how
#bitcoin
can empower people and businesses worldwide.
They also talked about corporate finance, Block, Facebook, NFTs, and open-source software development.
1/ Why withdraw
#bitcoin
from exchanges?
Based on the replies to my self custody tutorial thread, it seems a lot of people don’t yet understand *why* to withdraw.
Time for another 🧵
(with links to great tutorials)
Why should you care about Taproot? What is Taproot in the first place? What will it enable for Bitcoin?
I explore, in a beginner-friendly way, the next major
#Bitcoin
upgrade and its possible implications in my latest essay:
Russia Shares Plan To Regulate
#Bitcoin
The Russian government has defined the future of cryptocurrency in the country, though high regulatory scrutiny will hardly encourage innovation.
1/ This is not a good take. And CZ retweeting it is bad.
It *sucks* this happened and I feel very sorry for Luke.
But it’s not black & white like that.
There are levels to
#Bitcoin
security and often we concede on the convenience tradeoff.
It seems…
Coinkite's newest
#bitcoin
device can serve as a Lightning wallet and Nostr client 👀
Satslink is a versatile P2P device that empowers developers to explore a wide range of communications and mobile hardware applications.
Latest for
@BitcoinMagazine
:
4/ Decentralized Identifiers (DIDs).
Web5 leverages ION - an open, public and permissionless DID network that runs atop the
#Bitcoin
blockchain.
It’s based on the Sidetree protocol which doesn’t require tokens, trusted validators or additional consensus mechanisms to function.
3/ TBD’s Web5 is made up of software components.
These pieces let developers focus on building user experiences while enabling decentralized identity and data storage in apps.
It leverages existing decentralized tech with no blockchains other than
#Bitcoin
The components are…
Why
#Bitcoin
is superior to CBDCs:
1. Decentralized
2. Pseudonymous
3. Censorship-resistant
4. Unstoppable and irreversible
5. Limited supply
6. Open source
7. Permissionless
8. Global
It looks like over 200 Afghan War Logs have now been forever inscribed into bitcoin.
It seems to be an open and free mint, so anyone can inscribe to protest against the imprisonment of Julian
#Assange
An anonymous activist group is inscribing WikiLeak's Afghan War Logs into the
#Bitcoin
blockchain to protest Julian Assange's imprisonment
An unknown "Project Spartacus" has formed in an attempt to immortalize on bitcoin the thousands of Afghan War logs published by Julian
SBF been arrested 🚨
The FTX founder was arrested in the Bahamas today, after the U.S. filed criminal charges against him.
He’ll likely be extradited.
Latest for Bitcoin Mag:
Lightning Labs has introduced a new protocol proposal for
#Bitcoin
and Lightning, Taro.
Taro seeks to enable the issuance of assets and non-fungible assets on Bitcoin as well as their transfer on Lightning by leveraging Taproot:
5/ Decentralized Web Node (DWN).
Web5’s DWN is a reference implementation of a draft specification.
It’s a mechanism for data storage and message transmission that participants can use to locate data linked to a given DID.
TBD wants to produce a v1.0 of this by July 1, 2022.
Just in: People in the EU and UK can now transfer fiat instantly and cheaply to Africa 🇪🇺🇬🇧 -> 🇬🇭🇰🇪🇳🇬
Made possible by the
#Bitcoin
Lightning Network ⚡️ and a partnership between CoinCorner and Bitnob.
Latest for Bitcoin Mag:
My new essay is live on Bitcoin Magazine, exploring the adoption of
#bitcoin
in the Central African Republic today and what the future holds.
Feat. a chat with
@nicolasburtey
from Galoy, who’s been on the ground, and a report from the Bitcoin Delegation.
Guatemala used
#bitcoin
to safeguard official election documents, ensuring that any tampering of documents is made evident and any citizen can independently verify the information for themselves.
Wild!
Read all about it in my latest for Bitcoin Magazine:
2/ Medium of Exchange
The bill encourages the usage of
#bitcoin
and digital currencies as a medium of exchange.
It provides a tax exemption for transactions of up to $200.
#Bitcoin
drops below $30,000 after seeing its 8th consecutive red week for the first time ever.
While BTC has managed to undergo a bull market amid Fed interest rate hikes before, it could be different this time.
More in my latest for Bitcoin Magazine:
Mt. Gox creditors are closer than ever to receiving their bitcoin back, as trustee issues an update on the rehabilitation case.
But that could mean almost 142,000
#bitcoin
being dumped on the market.
Latest for Bitcoin Magazine:
Biden said the US and G7 leaders are in agreement to “limit Russia’s ability to do business in dollars, euros, pounds, and yen.” The US will also freeze $1T in assets of major Russian banks.
#Bitcoin
jumped to $39K.
Follow for more first-hand content.
#Bitcoin
privacy and custody might be closer to getting a boost.
@obi
,
@EricSirion
and
@_JustinMoon_
today announced a $4.2 million raise for their new company,
@fedibtc
.
Read how the tech can bring $BTC to billions in my latest for Bitcoin Magazine:
Gloria Zhao yesterday became the first known woman to join the group of
#Bitcoin
Core maintainers.
Coincidently, Pieter Wuille, one of the community’s most well-known developers, stepped down from that role.
Happy Birthday
#Bitcoin
🎂
Happy Genesis Block Day 🥳
Happy Proof of Keys Day 🎉
Phew! So many things to celebrate on January 3. And they’re all interconnected ⛓️
My reflection on why
#Bitcoin
matters and how Proof of Keys Day can help us see that 👇
10,000 BTC spent for two pizzas 12 years ago today.
While many enjoy promoting the HODL ethos on
#Bitcoin
#PizzaDay
, not only was BTC created as digital money but the first that enabled its holders to spend without asking for permission.
My latest:
Happy
#Bitcoin
legal tender day!
To look back on El Salvador’s historic adoption of BTC, I analyzed the network that allowed it all to happen.
Here’s the current state of Lightning, 1 year after it began enabling a country to use bitcoin as currency ⚡️
New: Valkyrie wants to fix the huge discount in $GBTC.
The firm proposed to become the new sponsor and manager of Grayscale’s
#Bitcoin
trust through shareholder voting.
I talked with the proposal’s author, Valkyrie CIO Steven McClurg, for more details:
CNN Business - “A digital currency based off the popular Netflix series "Squid Game" is trading at $0 after its creators cashed out, effectively stealing an estimated $2.1 million from investors.”
Do you know what rug pull means now?
Stop fucking around.
#bitcoin
only.