WTFBitcoin Week 40,2022
Bitcoin guarantees you an issuance rate & monetary policy.
TLDR: Bitcoin Accepted in Nambia, Argentina mining Bitcoin, McDonalds Accepts bitcoin In Lugano, Michael Saylor joins Stackchain.
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.
What else is as scarce, what else is as censorship resistance & defensible? Well, not Paypal. Just yesterday this headline was released, where the company could take up to $2,500 from users account if publicly disagree whatever the current government narrative is, because we know it changes.
In a world shifting towards digitalization and increasing in censorship, we need tools that go accordingly to our times, a replacement of cash in the digital realm, with no counter party risk. Who better than Jack Mallers to explain it in a concise manner:
“Like nobody can change the monetary policy of the asset that I’m holding, nobody can change the issuance of that same asset.
Bitcoin is the only asset that guarantees you an issuance rate & a monetary policy.. My long-term trajectory is bitcoin carries the qualities that will appreciate against all other assets, and I got nothing but time on my hands. So I am just sitting patiently acquiring an asset that I can trust in, because I actually don't have to trust anybody". – Jack Mallers
THE NEWS!
1. Farfetch, luxury e-commerce giant, now accepts #Bitcoin as payment in 37 countries
2. NYDIG raises $720 million for Institutional Bitcoin Fund.
3. Grassroots Bitcoin, held at Bitcoin Park in Nashville, Tennessee, brought Bitcoin meetup organizers from all over the country to collaborate together.
4. McDonald’s and other businesses now accept bitcoin payments in Lugano as Plan ₿ Foundation has onboarded the City of Lugano. The objective is to serve over 2,500 customers by the end of this year,
5. IBEX partners with Bitcoin Magazine, to be the official payments sponsor for Bitcoin Amsterdam and Bitcoin 2023 enabling attendees to transact in bitcoin on and off-chain using Lightning.
6. Telegram launched an anonymous P2P trading function for bitcoin using their official wallet bot. Deals are only in RUB for now.
7. Vodacom in Tanzania just started integrating bitcoin in mobile. It is live in 9 countries! (NO INTERNET NECESSARY!)
8. The first Africa Bitcoin Conference will be hosted in Ghana and is expected to have over 800 attendees including bitcoiners, industry and thought leaders, and will host a hackathon.
9. Namibia’s central bank says Bitcoin can be accepted as payment.
10. A director for Russia’s Ministry of Finance stated the country is seeking a non-restrictive policy for using bitcoin and crypto in international trade.
11. The Stackchain reached block number 2080, accumulating more than of $2.16 million worth of bitcoin being purchased by this movement in the last 8 weeks.
Michael Saylor entered the stackchain, getting the block number 2080!
12. Grayscale launches Bitcoin mining investment vehicle that pays out mined BTC as dividend
13. VISA partners with FTX to offer Bitcoin & crypto debit cards in 40 countries.
14. Argentina's State-Owned Energy Company is mining Bitcoin from wasted gas left over from oil production.
15. Gridless Compute is helping monetize micro-hydroplants in Kenya. As they build energy infrastructure for the village needs 5 to 10 years ahead, miners are consuming the overproduction lowering their power prices up to 90%.
FUNDAMENTALS
Despite the price, and the current global high energy prices, Hash rate continues to hit new all time highs. Miners are proving the thesis that they try hard to find wasted or stranded energy in order to be competitive & profitable. For instance, it is not easy to be profitable to mine with European energy prices.
Bitcoin Lightning Network Capacity has crossed 5,000 bitcoin, a new all time high.
As a summary note..
The development on Lightning continues in a parabolic way. As we might know, running a lightning node, has until now meant to have a hot wallet with a substantial balance to provide channel liquidity. The Validating Lightning Signer (VLS) is a step forward to separate the signing part of the mechanism from the lightning node running 24/7. By separating private keys and security rule validation from the node, it results in improved security for Lightning Users, as it reduces the attack surface.
Have a great weekend niblings.
Stay humble & stack sats.
Want to learn how to buy bitcoin?
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.
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Lightning Address: rustybeam47@walletofsatoshi.com