Bitcoin Developer Introduces Ark, A Layer 2 Protocol For Fast And Efficient Payments
By BtcCasey          

Bitcoin developer Burak has introduced Ark, a Layer 2 protocol designed to facilitate fast and efficient payments.

Unlike other Layer 2 solutions, such as Lightning, Ark eliminates the need for channel management, reducing the on-chain footprint. The protocol operates using virtual UTXOs (vTXOs) that expire after four weeks. Ark introduces an intermediary called the Ark Service Provider (ASP) that serves as a liquidity provider, CoinJoin coordinator, and Lightning service provider.

The protocol integrates with the Lightning Network, allowing interoperability between the two protocols. Ark offers potential for future extensions and improvements, providing a promising solution for secure off-chain transactions on the Bitcoin network.

🇵🇭 Canada  🤝 Philippines

Neutronpay And Pouch.ph Partner To Offer Affordable Remittances For Canada And Vietnam Using Lightning
By BtcCasey

Neutronpay has partnered with Pouch.ph to offer affordable remittance services for Filipinos living in Canada and Vietnam. The collaboration leverages the Lightning Network to convert Canadian dollars or Vietnamese dong into bitcoin, which is then converted into Philippine pesos and directly transferred to the recipient's bank or mobile money account.

The partnership aims to provide a secure and cost-effective solution for Filipino expatriates to send money to their loved ones in the Philippines.

The demand for remittances to the Philippines has been growing, and this collaboration addresses the need for efficient and accessible remittance services for the Filipino community in Canada. 

📰 The Daily Bits

💭 Should I Mine Bitcoin?

How To Figure Out If You Should Start Mining Bitcoin
By Keaton Reckard

In an opinion editorial by Keaton Reckard, he explores the factors to consider when deciding whether to start mining Bitcoin.

While Bitcoin mining can be challenging and yield inconsistent rewards, it still attracts investors who are interested in earning Bitcoin as compensation. Reckard highlights the potential for higher returns compared to traditional investment assets and emphasizes the environmentally-conscious nature of mining, which can utilize excess energy.

He suggests conducting cost-benefit analyses, taking into account factors such as power costs, hardware costs and efficiency, time, and the market value of Bitcoin. Reckard mentions that Bitcoin mining can be profitable for individuals paying $0.10 or less per kilowatt hour of power. He also discusses the significance of the upcoming Bitcoin halving in 2024 and its potential impact on mining dynamics. While profitable Bitcoin mining is challenging, Reckard suggests that it is not impossible, especially in regions with cheaper electricity and the use of renewable energy sources.

MEME OF THE DAY 

By @BitcoinSapiens

Accepting Applications!