New disclosure in today's $COIN (Coinbase) 10-Q: 👀
"In the event of a bankruptcy.....customers could be treated as our general unsecured creditors." 🚩🚩🚩
🚨Get your
#Bitcoin
off exchanges.🚨
BREAKING: Panama🇵🇦 just introduced a bill to recognize
#Bitcoin
as a global payment method
The falling dominos of Bitcoin adoption are accelerating.....🚀🔥
studying
#Bitcoin
means studying:
⏳ history
💵 finance
📈 economics
🏦 government
💻 computer science
🧮 mathematics
🔋 energy
🌍 geopolitics
📚 philosophy
♟️ game theory
🏙️ sociology
💡 critical thinking
🕊️ human rights
knowledge is a lifelong pursuit ⚡️🕳️
1/19/22: "If [Russia] invades, they’re going to pay; their banks will not be able to deal in dollars." -Pres. Biden
2/9/22: Russia's government and Central Bank agree to recognize Bitcoin and cryptoassets as currencies 🤯
#Bitcoin
is already the new global reserve currency 🌎💸
monday:
@jack
quits his fiat job building Web 2.0
wednesday: Square announces name change to Block. Square Crypto is now
@spiralbtc
🌀
a block is a 3-dimensional square...this rebrand underscores the new dimension that
#Bitcoin
brings to human freedom + individual sovereignty 🤯
🚨BREAKING🚨
US Senators introduce new legislation investigating El Salvador's adoption of
#Bitcoin
as legal tender and the "risks for economic stability and democratic governance in El Salvador"🇸🇻🤡
...as well as the potential threat to the US dollar's reserve currency status.
Can't get over the irony of this bill (which targets El Salvador🇸🇻 for embracing BTC) — being framed as an "Accountability" measure, given:
- the Fed has NEVER been audited,
#Bitcoin
is completely open
- U.S.'s history of weaponizing dollar's reserve currency status w/ impunity
from SEC Commissioner
@HesterPeirce
:
"Although this is a time for reflection, it is also a time for celebration. I am not celebrating bitcoin or bitcoin-related products; what one regulator thinks about bitcoin is irrelevant.
I am celebrating the right of American investors
this week in
#Bitcoin
...as of 2pm Monday: 🤯🔥
🇭🇳Honduran Pres expected to follow El Salvador's lead in "escaping dollar hegemony"
🇲🇾Malaysia proposes adoption of BTC as legal tender
🇷🇸Serbia's Prince Philip: "Bitcoin is freedom...We need to take the money away from the state"
A pointless 20–year war, ending in anguish and tragedy. An uninhabitable planet, plundered by a monetary system that demands growth at all costs. My generation's future wealth, inflated away to pay for it all.
#Bitcoin
is the only thing that keeps me optimistic for the future.
Treasury Secretary
@SecYellen
has warned that the U.S. will "run out of cash" in October unless Congress raises the national debt limit.
The U.S. will never run out of cash...but that cash is quickly running out of value.
Unlike the dollar,
#Bitcoin
cannot be devalued. Opt out.
“Bitcoin is too slow.”
“Bitcoin transactions are too expensive.”
actually...payments made over the ⚡️Lightning Network⚡️,
#Bitcoin
's Layer 2 scaling solution, outperform competing blockchains & existing payment networks when it comes to speed⏭️, cost🪙, privacy🔐 & more
it's pretty amazing that we can exchange fiat currency for
#Bitcoin
in 2022
in the future, the only means of acquiring Bitcoin will be through work (aka your TIME) 🤯
The federal government currently spends over $1 billion *DAILY* on interest payments to service the national debt.
Rising rates mean higher borrowing costs, forcing the U.S. into a cycle of issuing more and more (and more) debt to meet our obligations.
This is completely
“Capital has a velocity: the rate it circulates within an economy. 💸
Gold is low-frequency, analog money...
#Bitcoin
is pure monetary energy, moving between billions of computers at the speed of light."
— Michael
@Saylor
⚡️🤯
Oil giant Exxon Mobil's
#Bitcoin
mining pilot program may soon be expanded to sites in Argentina, Nigeria & Germany⚡️
Launched in North Dakota in Jan. 2021, the mining operation is powered by ~18 mill cubic feet of gas per month that would have otherwise gone to waste (flared)🔥
Capacity on the ⚡Lightning Network⚡ is going parabolic 💸
The
@Lightning
Network, a Layer 2 scaling solution for the
#Bitcoin
protocol, now holds over 2,200 BTC — a 46% increase since June 🔥🚀
every time I explain Bitcoin to a man, I make him promise to tell 5 women in his life why they need to start stacking sats
empowering women means empowering future generations 🤝
Fidelity: "Every minute, hour, day, and year that Bitcoin survives increases its chances of continuing into the future as it garners more trust and survives more shocks."⚡️🚀
A non-exhaustive list of the stressors, attacks, shocks, and failures that
#Bitcoin
has endured:
Inflation entrenches wealth inequality.
The Fed's endless money-printing inflates the value of assets owned by the already-rich (real estate + equities)📈
Meanwhile, working people find their cash savings melting away as prices rise📉
Buy
#Bitcoin
, build inflation-proof wealth
#Bitcoin
isn’t about the Left vs. the Right.
It’s about the people vs. Central Banks and the manipulation of fiat currency.
Party affiliation is irrelevant when the temptation to print money is irresistible...
🔴 or 🔵: whoever CAN print, WILL print — always at our expense.
WSJ:
@Fidelity
Investments — the nation's largest administrator of retirement plans — plans to offer investors the option to allocate 401(k) funds to
#Bitcoin
. 💸
with 2+ months left of 2022, the bitcoin network's on-chain transfer volume has officially surpassed the record set in 2021🔥🚀
last year, $13.1 trillion💸 was transferred over the network
2022 YTD transfer volume is $14 trillion, putting
#Bitcoin
on pace for ~32% YoY growth📈
"Bitcoin is best understood as a force of nature....you can have an opinion on it, but your opinion doesn't have any influence on the phenomenon whatsoever.
The tide will come & go, the sun will rise & set, and
#Bitcoin
will produce a new block. Every 10 minutes."
—
@dergigi
💸
"The greatest achievement in Bitcoin this year was, once again, Bitcoin itself.
#Bitcoin
continued to operate flawlessly....Bitcoin delivered 100% uptime and was available to anyone in the world all year in the face of everything 2022 threw at it." 🚀
—
@SwanBitcoin
🦢 team 🔥
Texas is poised to become the
#Bitcoin
mining capital of the U.S. as a result of its deregulated electricity landscape, cheap energy costs, and welcoming lawmakers. 🔌⚡
The
#Whinstone
mine in Rockdale, TX (pictured) could be capable of producing 500+ Bitcoins per month!
The City of Mobile, Alabama has approved its first
#Bitcoin
mining project.💫
In partnership with crypto infrastructure provider
@DLedgerInc
, the City's GulfQuest Maritime Museum (pictured) will host 100 Bitmain Antminer S19 miners in a modified, air-cooled shipping container.✨
During oil extraction, natural gas is "flared" or burned off as waste. 🔥⛽️
Each year, the US loses 69 TWh of power to gas flaring.🔥 That's 78% of the Bitcoin network's 2021 global energy usage!
Mining
#Bitcoin
with flare gas unlocks wasted power sources & offsets emissions🌱
global supply chain disruption
lost war in Afghanistan
daily climate-related wildfires/storms/floods
uncontained delta variant
and the stonk market continues to smash all-time highs?
the US dollar is a bubble.
#Bitcoin
is just waiting for it to pop.
Skeptics have published over 400 Bitcoin “obituaries” since 2010. ☠
In 2021, the original cryptocurrency was declared “dead” at least 47 times, representing a 3x increase over 2020. 📉
And yet...
#Bitcoin
lives on. 💸
New Hampshire Gov.
@ChrisSununu
has signed an executive order establishing a commission to research current
#Bitcoin
-related laws and recommend new ones as the state seeks to encourage innovation and attract entrepreneurs.⚡️
Bitcoin is set to close out February 2024 by posting the biggest monthly candlestick in history 🔥💸
The price of
#bitcoin
has surged nearly $20,000 since the beginning of the month 🚀
“It was a grassroots victory which showed that developers had no control, large companies had no control, and the miners had no control." ✨✨
—
@adam3us
"Demand for Bitcoin has risen tremendously: more than half (55%) of current investors in Bitcoin began investing over the last 12 months." 📈
—
@Grayscale
2021
#Bitcoin
Investor Study
welcome new plebs 👋⚡️
p.s. we're still early
on-chain data shows that
#Bitcoin
plebs are aggressively buying the FTX dip 🚀
@glassnode
: Wallets holding <1 BTC ("shrimp"🦐) have added 33.7k BTC this week alone....this level of balance inflow is the second largest in history, surpassing the peak of the 2017 bull market.🔥
The Built With Bitcoin Foundation (
@builtwithbtc
) just opened a new
#Bitcoin
Technology Center in Ejisu, Ghana. 🇬🇭
The center will be run by Ghanaians, for Ghanaians and aims to educate and serve 400 people in the first year. 💸
The Keep Your Coins Act (introduced TODAY by Congressman
@WarrenDavidson
) protects the ability to self-custody
#Bitcoin
and conduct peer-to-peer transactions.
A number of people will undoubtedly recognize that, “Bitcoin fixes this.” That’s only true with self-custody. Account-based crypto has similar vulnerabilities. We also have a bill protecting self-custody: the Keep Your Coins Act.
bear markets are for building...
the ⚡️Lightning⚡️ Network,
#Bitcoin
's Layer 2 scaling solution, continues to grow:
🚀 channel capacity of ~4,000 BTC (+5.4% in 30 days)
🪙 median transaction fee of 1 satoshi ($0.000301142)
🍠 Taro protocol enabling asset issuance + new features
As of this morning, over 90% of the total
#Bitcoin
supply has been mined. ⛏️💸
The remaining 10% (that's 2.1 million Bitcoins) will be mined over the next 118 years. 🕐
It is impossible to overstate the scarcity of this asset.
Senator
@IndiraKempis
will introduce legislation to make Bitcoin legal tender in Mexico 🇲🇽
The congresswoman recently visited El Salvador 🇸🇻, where she was inspired by the social benefits of embracing
#Bitcoin
: increased financial inclusion, economic opportunity & innovation⚡️
Genesis, the first book in the Bible, recounts the creation of heaven and earth:
Genesis 1:3: "Then God said, 'Let there be light' and there was light." 💡
#Bitcoin
has its own origin story, and it begins just 12 years ago...
[THREAD👇]
MiamiCoin🌴 x Art Basel🎨 on Saturday night⚡
Learning about how
@mineCityCoins
and $STX are building on
#Bitcoin
to transform civic engagement, public education and municipal finance in Miami 💸🏙️
"By far the most startling part of the President's new economic program is the decision to suspend gold payments against dollars—an act that, among other things, removes the underpinnings from the world's money."
- The New York Times, August 1971
#Bitcoin
is the War on War:
"War is the “proof of work” energy (+ capital/life) expenditure among nation-states to determine the distributions of property rights...When property cannot be stolen, the economic motivations for violence and coercion are dampened."💥💣
-
@Breedlove22
"It's very simple when you analyze it," said Mr. Ford, "the cause of all wars is gold...The essential evil of gold in its relation to war is the fact that it can be controlled. Break the control and you stop war."
#Bitcoin
fixes this🕊️
Crypto/Web3 attempts to financialize everything — art, sneakers, games, login credentials, communities.....
#Bitcoin
represents the de-financialization of an overly-leveraged system that rewards speculation and subsidizes risk. 💸
the Built with
#Bitcoin
Foundation (
@builtwithbtc
) recently finished the construction of a clean, sustainable water project in Nigeria 🇳🇬
Over 1,000 villagers in the Igbaruku Community will no longer need to walk miles each day to reach a water source 🌊💸
From an outside perspective, the entire "crypto" ecosystem seems homogenous...but
@LynAldenContact
says it best:
"It’s like
#Bitcoin
is the iPhone, and then there are thousands of cheap knock-off buggy phones, with Apple logos glued onto them, being marketed to people as well."
Bullish findings from V.2 of "The State of Lightning"⚡️🚀 (new this week from
@ArcaneResearch
):
⚡️ Number of payments roughly doubled in the past year
⚡️ Value of payments (in $USD) increased by ~400%
⚡️ Adoption increasing even faster than public indicators suggest 📈
Today marks
#Bitcoin
’s 5th Independence Day 🧡🕊️
I wasn't around in 2017, so I did some research to understand why Bitcoiners celebrate decentralization and community each year on August 1...
🧵
Russia has been collaborating with China, its largest trading partner, to de-dollarize
Prior to the U.S.-China trade war, most transactions between Russia and China were settled in USD
In Q4 2020, use of the dollar between the two countries fell below 50% 👀
this week:
- Putin supports Russian government proposal to allow regulated Bitcoin mining
- Biden prepares to release executive order to regulate Bitcoin as a "national security" matter
if Russia/OPEC+ begin denominating transactions in
#Bitcoin
, the Petrodollar becomes obsolete
stunning insights from new analysis by
@CreditSuisse
:
💥 We are witnessing the birth of "a new world monetary order"
💥 Russia-Ukraine crisis centers on rising allure of "outside" money over "inside" money
💥"Money" will never be the same again…and
#Bitcoin
is poised to benefit
According to new inflation data released today:
📈 prices climbed 7% in December, marking the fastest increase since 1982
📈 the surge is primarily driven by energy (+50% YoY), used cars/trucks (+37%), and food (+6.3%)
📈
#inflation
has exceeded 5% for 8 consecutive months
Russia can use Bitcoin to evade sanctions.
Meanwhile, Ukraine has raised millions in Bitcoin to fund its defense and preserve its national sovereignty. 🇺🇦
#Bitcoin
is an open, neutral, permissionless monetary network, unprecedented in human history.
🔐 $1B total value locked
🖥️ 2.5K smart contracts deployed
🏦 advanced DeFi capabilities
💸 $50M BTC rewards distributed
🎨 thriving NFT community
🌆 $51M contributions to NYC & MIA
📈 $STX Coinbase listing
...and still just the beginning for Web3, built by
@Stacks
on
#Bitcoin
🚀
Web 2.0📉
- "attention" economy👀
- centralized
- demands consumption
- built on TCIP/IP
- profits➡️tech companies (VCs/private equity firms)
Web 3.0📈
- "reputation" economy
- decentralized
- incentivizes creation
- built on
#Bitcoin
- value circulates within the network🔁