Another Week In Bitcoin
We should all take a moment to appreciate how far Bitcoin has come in the last few years. An entire industry has spawned, providing Bitcoin-focused jobs for thousands of dedicated professionals looking to have an impact on the world through Bitcoin. Amazing!
📝 Today's Rundown
  • 🧨 Crypto In Crosshairs: Regulation is getting increasingly stringent.
  • ⛓️ Help Me Drivechains, You're My Only Hope: Why Drivechain is our best chance at securing Bitcoin's future.
  • 💔 Fiat Breaks You: How debt-centered fiat changes your incentives. 
A Bitcoin 2023 Treasure Hunt
Each week leading up to April 2023, a single-use unique code in the format of "BMDAILY50[X]" (with [X] being varying bitcoin terms) will appear in a random daily newsletter hidden within the content. The code will get the lucky winner 50% off tickets to the Bitcoin 2023 Conference in Miami, happening May 18-20.
  • Fiat payments only
  • Applicable to GA Pass only
  • Limited time offer
Be sure to check the daily newsletters as soon as you receive them to try and win! 
Learn More
🧨 Crypto In Crosshairs

Crypto In The Crosshairs And Bitcoin Market Dynamics
By Dylan LeClair                       

Bitcoin's exchange rate decreased after regulatory crackdown headlines in the broader crypto industry, with the SEC announcing charges against Kraken and the New York Department of Financial Services investigating Paxos.

Some worry that the regulatory crackdown could harm honest actors and lead to offshore and sketchy exchanges.

Along with this, the bitcoin market is still range-bound, with extreme lack of order book liquidity for BTC leading to volatile moves.

The futures and derivatives market has been relatively quiet since the short-squeeze-fueled rally, and spot inflows are needed for a meaningful squeeze position to manifest and break bitcoin out of its seven-month range.

Read The Full Article

⛓️ Help Me Drivechains, You're My Only Hope

Why Drivechain Is Our Best Chance To Secure Bitcoin Into The Future
By Samuel Greenberg

In this article, Samuel Greenberg advocates for the use of Drivechain, a protocol upgrade proposed by Paul Sztorc in 2015, which would enable developers to innovate permissionlessly on top of the Bitcoin protocol stack.

Greenberg argues that this is necessary to increase the usefulness of the Bitcoin network and prevent it from ossifying. He believes that the security of the network will rely more and more on transaction fees as the block subsidy decreases over time, and there must be a mechanism for incorporating innovations into the network safely.

Bitcoin 2023 Treasure Hunt Code: BMDAILY50ENERGY

Drivechain would allow users to deposit and withdraw their bitcoin into sidechains with a fixed, one-to-one conversion rate and enable limitless feature development for users on these sidechains, all of which can contribute fees toward Bitcoin’s network security.

Read Full Article
Get Your Tickets Here!

📰 The Daily Bits

 
🐟 New ideas have often found resistance, something that certainly isn’t new to bitcoin and its entrance into the mainstream.
 
🤔 The bitcoin price is often criticized as being too volatile, but as Einstein theorized, it’s all in how you look at it.

🌴 Join us for the largest Bitcoin conference in the world in Miami Beach, May 18-20! 
Learn More

💔 Fiat Breaks You

Fixing The Incentives: The Fiat Treadmill Keeps Us From Storing Value
By Jimmy Song

Jimmy Song argues that the modern world's self-destructive behavior is caused by the terrible incentives of fiat money. He focuses on the lack of good stores of value in the economy, caused by Keynesian economic policies that justify inflation to make it look economically productive.

Traditional stores of value, including real estate, stocks and gold, all have critical flaws that make saving more difficult. Song suggests that Bitcoin changes people's mental models, helping them save money and take their lives more seriously.

This article aims to explore how incentives have gone awry at the personal/individual level, the company/group level, the national/country level, and the level of the entire world, building from the bottom up.

Read Full Article

MEME OF THE DAY 

By /u/TheBTCTherapist

There's only one sound monetary protocol! Eventually, that will rise above all of the noise. 

Have a good Monday,
@BtcCasey

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