2022W34/35 - WTF happened in Bitcoin this week?
Lightning is growing exponentially.
TLDR: Bitcoin is an Insurance, Banks allowing bitcoin trading, India embraces bitcoin, Lightning reaches 4600 in capacity & more..
Hey there niblings, it’s uncle Bam again, with a summary of the most insightful events in the Bitcoin space. Back at it again digesting all the important news for you.
After two weeks and some health issues getting on the way, uncle Bam is here with a big list of eventful things happening in the Bitcoin space. Although the price hasn’t behave beautifully as we would want, and the entire macro seems to be heading towards scary times, bitcoin remains issuing block by block without skipping any.
It continues to provide us a safe place to store our wealth, out of reach of any third party or malicious actor.
Depending on our jurisdiction, it might be easy to take things for granted, but the value of having wealth to be moved and used at our full disposal, its normally under-appreciated. And in the undesired event when we would need it to be this way, it could be too late.
Bitcoin is an insurance against our current failing monetary system. Now let’s get to the news!
THE NEWS
1. Lntxbot has now added the possibility to send bitcoin onchain additionally to lightning.
2. Peach bitcoin was just launched. Now you can buy bitcoin from your phone, on a peer to peer non-custodial marketplace for the European Market.
3. Philippine universities to offer Bitcoin and crypto courses in partnership with Binance.
4. Samsung Securities, Mirae Asset Securities and five other brokers have filed to launch cryptocurrency exchanges in South Korea in 2023.
5. A recent survey titled "Into The Cryptoverse" was recently released by KuCoin stating:
Over 115 million people, or ~15% of India's population, said they currently hold or have traded bitcoin or other cryptocurrencies.
56% of investors believe bitcoin or cryptocurrencies are the future of finance.
54% believe will it bring them a higher return on investment as compared to traditional means in the long run.
The investor class is becoming increasingly younger.
6. Binance is also working with Philippine regulators to establish a framework to encourage Bitcoin and crypto adoption in the country.
7. In partnership with Visa, Ripio Card allows users to earn 5% cashback in bitcoin on all prepaid purchases across the world until October 31.
8. Kenanga Investment Bank to partner with Ant Group to launch a super app housing all of its financial services including a bitcoin and crypto digital wallet.
9. Customers of Sullivan Bank will be able to buy, sell and hold bitcoin and one other crypto through Bakkt Holdings’ Crypto Connect platform in a mobile app.
10. Bitcoin Depot, the largest bitcoin ATM firm, is set to list on the Nasdaq under ticker symbol ‘BTM’ by Q1 2023 through an $855 million SPAC deal. So far the company holds a fleet of 7,000 ATMs across North America.
11. The Lightning accelerator, Wolf, was announced and will be based in Manhattan, New York and is exclusively non-remote. It will include mentorship, funding and work space.
12. GoTo purchased Indonesian bitcoin and cryptocurrency exchange PT Kripto Maksima Koin for $8.38 million to become a diverse money management company.
13. Jacob & Co. releases limited edition bitcoin watch. They put 444 components on two rotating platforms housing many callbacks to the Bitcoin ecosystem for a limited-edition collection of 25 pieces.
14. There are around 200 businesses accepting bitcoin in Guatemala.
FUNDAMENTALS
15. Bitcoin has crossed the $100 trillion mark, on total value transacted in its lifetime.
16. Lightning adoption continues to accelerate with a new milestone of more than 4,600 bitcoin in lightning’s capacity.
17. Plebs appear to be drying up the market and stacking harder than previous tops or bottoms.
As a summary note..
Bitcoin remains the best appreciating asset of the decade. It is hard to think about it this way if we take a short term perspective and focus on its price on the last couple of months, but if we look further, then we could stop and think:
How many bitcoin would I have if I decided not to buy each new iPhone model?
Stack harder,
Uncle Bam.
How to buy bitcoin? (With Relai through Revolut)
Referral: BAM
If you are in Europe, I made a pretty simple guide with 3 steps, which avoids you having to set up an account on an exchange, give them all of your personal information, plus custody of your funds.
Did you find value on this? You want to contribute to Uncle Bam?
Then feel free to donate, a cup of coffee would be highly appreciated.
But more importantly, share this with your friends and family..
Lightning Address: rustybeam47@walletofsatoshi.com