🔥 Starlink & Bitcoin

How Starlink Changes Bitcoin Mining And Improves Decentralization
By El Sultan Bitcoin

Bitcoin mining requires a relatively high amount of processing power and therefore, the necessary electrical energy. For that reason, Bitcoin miners have are always relocating, seeking the cheapest and most efficient energy producers worldwide.

However, highly concentrated energy production sites are typically located in remote areas with scarce internet access; Quebec, Canada and Sichuan, China, are great examples of this. Furthermore, in these places the installed hydro capacity usually exceeds the demand for electricity and there ends up being a waste of some of the energy produced.

Led by SpaceX, Starlink internet services could easily fill this gap and become a great solution for both industries. Starlink is aiming to provide high-speed, low-latency broadband internet in remote and rural locations across the globe and, therefore, it represents a great opportunity for Bitcoin miners to take advantage of cheap and otherwise wasted energy. Starlink could also add extra levels of decentralization to the Bitcoin Network.

Pleb Miners Month Celebrates The Rise Of Home Bitcoin Miners
By BarnMiner

In the beginning, Satoshi Nakamoto mined solo and it’s estimated that he had up to 48 CPUs mining with another controlling the operation and/or on standby to protect against a 51% attack.

Bitcoin miners are one of the most important parts of the best form of money we have ever discovered — they protect the network and keep it decentralized.

Bitcoin mining has evolved drastically. It is now a multi-billion dollar industry with enormous mining companies now publicly traded in the stock market and valued in the billions. However, it is important to remember that Bitcoin mining was designed to be decentralized and available to all. Anyone who wants to mine should be able to mine.

Because of that, Jon and Sarah DiGiacomo, MaxBitBuyBit and a group of other miners are planning Pleb Miner Month in September. It is an event that will include long-form interviews to highlight small-scale miners and home miners as well as the organizations and people that support them.

1. Bitcoin’s incentives are clear and fair, while proof-of-stake has contrasting incentives that are the same as the current system where the rich get richer.

2. The Lightning accelerator, Wolf, will be based in Manhattan, New York and is exclusively non-remote. It will include mentorship, funding and work space.

3. It is wise to reflect and improve upon the different ways we currently measure successfully introducing someone to Bitcoin.

4. Understanding how bitcoin adoption could be stopped is critical to becoming a better Bitcoiner and there are numerous possible attack vectors that exist.

5. This analysis of the changing world order, its impacts on the global economy, and the future of central bank monetary policy is the first in a two-part series.

6. Trying to define and apply the label of Bitcoin Maximalism is a non-productive criticism that obscures more than it clarifies.

7. One Bitcoiner’s journey making it through a major bitcoin crash, going on a quest to learn from others and finding community in the process.

8. The fiat system is a walled garden surrounded by armed guards. Bitcoin penetrates and dissolves these walls, and helps humanity flourish in the process.

The Scaling Problem For Lightning Lab’s Taro On The Bitcoin Blockchain
By Evan Price

Taro is the latest development to come out of Lightning Labs. The Taro protocol promises to enable the creation and transfer of multi-assets on top of the Bitcoin and Lightning Networks. A very interesting and easy to understand example of what Taro could achieve would be a bitcoindollar: a stablecoin pegged to the U.S. dollar but created and transferred via Bitcoin and Lightning.

It sounds like a very promising feature that could ultimately assist in Bitcoin’s mass adoption. Most people still think that the dollar is a good store of value and they still prefer to use it as a unit of account. So, in that case, Taro could help a lot of people start using Bitcoin-based assets. Taro's design is very clever but, if analyzed deeply, it could face scaling issues in the future and its impact on the Bitcoin fee market in particular is unclear.