Hello Humble Bitcoiners!
We hope you enjoyed your weekend. Over the weekend, Bitcoin continued to serve as a global network, ceaselessly facilitating permissionless transactions. |
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| 📝 Today's Rundown 💻 The Mining Upside: Bear market woes continue for miners as bitcoin’s price sits 70% off its record highs. But hope springs eternal. 🌪️ Dangerous Implications: There are a variety of reasons consumers should be wary of developments surrounding central bank digital currencies. 💸 Exploring Legal Tender : A group of business leaders along with the South Carolina State Treasurer traveled to El Salvador to learn about the country’s adoption of bitcoin. |
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HODLween is a Bitcoin only celebration on October 21 and 22 designed to unite us around the idea of self sovereignty through education, play and community. If you hold bitcoin, are curious about bitcoin, or just want to have some fun — HODLween is for you! HODLween features three main events — The Cattlemen's Feast in collaboration with the Beef Initiative, Speakers and Bitcoin Workshops, and an epic HODLween Costume Party!
You don't need permission to be your own bank and you don't need permission to have fun! |
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Public Bitcoin Miners Have Shed $14 Billion In 2022, But There’s Bullish Upside
By Zack Voell This year, publicly traded Bitcoin mining companies have had to endure one of the most brutal bear markets in Bitcoin history. According to data compiled from YCharts, the total market values of these companies have dropped by over $14 billion from the start of the year.
Hash rate and mining difficulty keeps rising and breaking new all time highs every week, which makes it even more difficult for them to make a profit.
The author of this article overviews the downtrend in share prices for public mining companies as the final quarter of the year begins and explains why there is still hope for the mining sector over the long term. |
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🌪️ Dangerous Implications |
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The Dangerous Implications Of Central Bank Digital Currencies
By Natalie Smolenski Governments and central banks are not going to surrender and give up their control of money easily. Their ability to print it whenever they want allows them to control everything. They have decided to create another form of programmable money in response to Bitcoin. One they could control and manipulate: Central bank digital currencies (CBDCs).
Programmable money can be a blessing or a curse depending on the programmer. In the case of Bitcoin, it ended up being the best form of money ever discovered/invented. It was programmed to be scarce, decentralized and immutable. In the case of CBDCs, they up giving more power to their creators, allowing them not only to retain their control over money but also to increase that control in terrifying ways. |
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1. All roads lead to proof-of-work because it is the most efficient and fairest way to come to consensus, without having a rich-get-richer problem.
2. The partnership lets FTX exchange users in 40 countries easily spend their bitcoin and cryptocurrencies at any merchant that accepts Visa cards.
3. While Bitcoin certainly isn’t here to enable the elite class, their adoption is likely to come much quicker by encouragement from their own.
4. In the first of several tales of orange pilling, a business owner in Portugal is shown the power of adopting sound money.
5. A case study on how Bitcoin could be utilized in a modern energy efficient, renewable-powered dwelling.
6. Bitcoin’s hash rate has endured a series of significant price drawdowns only to emerge stronger than ever. We look at potential implications for bitcoin miners.
7. The United Nations released a report demanding central banks change course and OPEC decided to cut their production quotas by 2 million barrels per day.
8. A new major update of Bitcoin Core is being tested and is in its release candidate phase and could be released to the public in the near future.
9. Bankrupt Celsius exposed personal information of thousands of users amid its restructuring process. Here’s what happened and what you can do for protection. |
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| đź’¸ Exploring Legal Tender |
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South Carolina Delegation Goes On Bitcoin Exploratory Trip To El Salvador
By Dennis Fassuliotis A group of diverse leaders from a South Carolina delegation made a five day trip to El Salvador, the first country in the world to adopt bitcoin as legal tender. The intention of the visit was to gather information, meet with government officials and understand the changes the country has gone through in order to embrace bitcoin and the citizen's education about its use.
The visit proved to be a success. The visiting group found out the people number of locals using bitcoin for everyday purchases is on the rise and business owners remain interested in its usage and hope for its expansion to continue, as the economical impact is palpable. |
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Bitcoin turned out to not be so volatile lately. Given the current macroeconomic situation, it is quite impressive that it has shown to be less volatile than many national currencies.
Stack harder,
Bam |
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Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
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