Humble Bitcoiners!
It's Thursday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
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Today's Rundown: - Quest: The story behind the cypherpunks and bitcoin as a tool for freedom.
- Misunderstandings: Fidelity director has a bullish-bearish outlook.
- Domination: U.S. becomes bitcoin mining epicenter.
- IPO: Stronghold will list over 5 million shares of common stock.
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| “I’ve been working on a new electronic cash system that’s fully peer-to-peer, with no trusted third party.” - Satoshi Nakamoto In this piece, the author walks us through the history of the cypherpunks and how its core ideology of working together pseudonymously to to preserve human rights like the right to associate and the right to communicate privately in the digital realm, led to the making of Bitcoin.
Through different innovations, digital money was attempted along time by different projects, DigiCash, Hashcash, B-money and Bitgold, all failing to prosper due to one missing key property: Descentralization.
Thanks to the cypherpunks, bitcoin became the first digital form of money which solved and prevents the double spending problem, by sharing the ledger in the hands of thousands of individuals.
“Cypherpunks write code.” - Cypherpunks |
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Fidelity Director: $100,000 BTC By 2023, Fails To See Bitcoin Power
By Namcios Jurrien Timmer, Fidelity Investments' director of global macro, made an appearance in CNBC discussing his bitcoin price prediction models, market outlook and personal opinion of the current rally. In his view, he might as well have made a "bullish" prediction of bitcoin price surging up to $100,000 by 2023, as he stated this the latest appreciation has not been fueled by momentum traders, but organic spot demand. But he bitcoin community disagrees with this aforementioned outlook, saying it is not bullish enough.
"This has not been a momentum-fueled run by short-term speculators, so that gives me some confidence that this actually is a pretty sustainable move and is not a bubble that is about to burst" - Jurrien Timmer |
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Click the links:
1. Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin.
2. Miami will issue a request for proposal this month to help create the BTC payment mechanism.
3. Bitcoin Bottom Line: In a fireside chat with podcaster Dennis Porter, he covered discussing Bitcoin with those who don't get it yet.
4. Decentralized Identifiers (DIDs) built on the immutable ledger of Bitcoin can empower users to secure their own personal data on the web.
5. Bitcoin Magazine Podcast: Greg Foss discusses, Evergrande, China's high-yield market and his valuation model for bitcoin.
6. The proposed bill includes intrusive tax collection measures which would inhibit the productivity of the nation.
7. Alarmingly, G7 governments appear to be following a playbook designed to cap interest rates and let inflation run hot. |
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U.S. Becomes World's Biggest Bitcoin Miner, Beating China
By Alex McShane The United States has become the epicenter for Bitcoin Mining, accounting for 35.4% of the global hash rate by end of July 2021, according to a Cambridge Centre for Alternative Finance study. Only since April of this year, the mining industry took a huge turn: - U.S. increases from 17.77% to 35.4% of controlled global hash rate
- China decreases from 43.98% to virtually 0% controlled hash rate
Interestingly, China had 75% of the hash rate in 2019. This will likely be a wrong geopolitical move made by China, to be spoken in history books, as they let go the leadership of Bitcoin Mining.
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Bitcoin Miner Stronghold Launches Nasdaq IPO
By Namcios Stronghold Digital Assets has officially launched its Nasdaq IPO of 5,882,352 shares of Class A common stock at an anticipated price of between $16 to $18 per share. The company chose to undergo the traditional listing route, through an actual IPO and taking the ticker symbol "SDIG", instead of the popular direct listing and SPAC avenues.
With two power plants, Stronghold is looking to be a big player in the Bitcoin Mining industry while aiming to have zero emissions. |
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By FarooqAhmedX
The beginning of the Covid 19 season, brought to bitcoin a big discount, not even 2 years ago one could have load up on bitcoin on price levels ranging from $4,000 - $6,000 for several weeks. The victorious ones saw this dip as the greatest opportunity of all time, while many others were between reluctant and scared, or waiting for "lower levels" to buy get in.
Never wait to buy bitcoin, just buy bitcoin and wait. |
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Keep on reading, keep on stacking. |
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