Humble Bitcoiners!
It is with great pleasure that we bring you today's newsletter! Sit down and get ready for your daily dose of Bitcoin signal! |
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| Today's Rundown: Decentralization: Is bitcoin mining decentralized? Lightning Dev: The release of the Lightning Dev Kit project. Self Preservation: Bitcoin as a fix to central planning. Banks: The biggest Colombian bank soon to offer bitcoin services to their customers. |
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How Centralized Is Bitcoin Mining Really?
By Shinobi There has been big discussion and debate regarding how decentralized bitcoin really is. But over time, the conversation as proven to be more complex and it is hard to find any specific metrics for evaluation.
When talking about decentralization the author sheds light on the spectrum of it, by first separating it in different categories: Mining Pools/Coordination Mining Equipment Ownership Geographic Distribution Of Equipment Secondhand Equipment Market Equipment Manufacturing Market Energy Production These six different categories are distinct vectors of attack in terms of how decentralized the system is, whether the attack comes from the regulatory side, legislation, supply shortages, or even cyber attacks. The idea is to decentralize each pillar which contributes to the total decentralization of bitcoin.
According to the author, the progress in many of the areas is palpable, but there is still a big work to be done in decentralizing mining pools. One place to start is by solving the necessity of decentralizing the payouts. |
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TICKET PRICES INCREASE SOON! |
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Jack Dorsey's Spiral Announces The Lightning Dev Kit
By Namcios Spiral, a Square subsidiary focused on Bitcoin development, has formally presented its Lightning Development Kit (LKD). LKD is a new way to easily integrate instant bitcoin payments into any application.
The company has been secretly working on the development of this technology for the last two years, and it is geared towards developers who want to integrate the Lightning into their applications frictionlessly.
By abstracting the low-level Lightning logic away, LDK removes barriers for new developers joining the ecosystem and allows them to begin straight away developing new applications on top.
“When our team formed, we went out and interviewed dozens of wallet projects and developers, what we learned is that they were having a lot of problems adding Lightning Network capabilities.” - Steve Lee, lead at Spiral |
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Chance to win 1,000,000 sats |
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Click the links:
1. John Law, a darling of the French king, wrote the blueprint for central banks, demonstrating the fiat flaws that Bitcoin solves as he did.
2. Bitcoin will play a pivotal role in the transfer of information from the physical realm to the digital.
3. Bitwage, the bitcoin payroll company teamed up with Voltage and ACINQ to process the world’s first Lightning payroll.
4. The fund created by nonprofit charity: water will hold its BTC reserves until 2025, when it will begin using it to support operations worldwide.
5. This fintech company expects its prepaid debit card product to launch in the U.S. in Q1 2022.
6. Tom Luongo discusses his theory of Davos man and what Bitcoin means geopolitically at this time of great change.
7. Bitcoin is a young, fresh technology with incredible potential — and we haven’t even touched the surface of possibilities. |
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In the 15th issue of The Center Cannot Hold, the author makes an association between bitcoin and Self Preservation.
Self preservation means to ensure the survival of an organism — this could be seen in two distinct ways such as preserving value and time, or even freedom.
Buying bitcoin has been often seen as "speculative," while in its essence, it is nothing more than trading time now for time later. The price appreciation and value preservation creates an incentive for humanity to utilize it as money. As our time is the most limited asset we have, it makes sense to trade it for sound money which at least shares similar properties of scarcity.
Bitcoin is also a mechanism which helps us be free from the tyranny of fiat money. With an oppressive monetary system ran by governments, independently whether the system behaves tyrannical by coincidence or choice, bitcoin offers the population to have a vote through value without the possibility of being censored. |
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Colombia's Biggest Bank To Offer Bitcoin Trading
By Namcios
Bancolombia, the biggest bank in Colombia, announced it will soon offer frictionless bitcoin trading for its Colombian customers. This became possible through a partnership with Gemini, which is part of a government-sponspored pilot program, destined to launch on December 14th.
The adoption is becoming palpable, as many Latin American banks have decided to not be the last ones to adopt Bitcoin. Binance and Bitso have also been partnering up with other financial institutions and digital payments apps in the last months.
“Crypto is borderless by nature, and we are committed to expanding crypto access to individuals across the globe,” - Pozo GarcĂa , Head of Strategy at Gemini |
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By Ruben B HODL
As bitcoiners, we have seen many things throughout these last years. Nothing surprises any longer. The markets will move, bitcoin could crash short term, governments could attempt to take away more of our freedoms, but we know where we are going, and we work towards our goals.
Keep stacking. |
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Keep on reading, keep on stacking. |
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