Home › Weekly Headlines › The Weekly News Roundup, ending 18 September 2022 – Bitcoin’s Next Battle, Craig Wright vs Hodlnaut, and the Ethereum Merge

The Weekly News Roundup, ending 18 September 2022 – Bitcoin’s Next Battle, Craig Wright vs Hodlnaut, and the Ethereum Merge

By Brian in Chicago on September 18, 2022 • ( 0 )

There were some large developments this week. Bitcoin next battle has arrived as the Biden White House guidance on cryptocurrencies was published and there was a generally negative language on Proof-of-Work protocols, because of its energy consumption. The facts and value proposition of bitcoin have carried it through two years of energy FUD so far, but the biggest potential threat to bitcoin mining in political jurisdictions is enacted legislation that prohibit or restrict mining (and even then, as we saw with the China ban in 2021, the network will continue hum along- decentralization for the win.

Along these lines, Nic Carter published some relevant points:

Also this week, Craig Wright was in court again. This time, he is taking on pseudo anonymous twitter personality Hodlnaut as Craig again tries to assert that he is Satoshi Nakamoto and he created bitcoin.

Bitcoin Magazine had exclusive coverage of the court case. You can watch the coverage in this youtube playlist.

Finally, this week we had a milestone event for the time capsule when the ethereum protocol transitioned from Proof-of-Work to Proof-of-Stake.

If you are not familiar with the differences between the two, check out this short 2 minute video by 99bitcoins.
Here is a slightly more detailed comparison by Simply Explained.

There are four more planned stages in the works to upgrade the protocol. They will allow for faster transaction speeds, beef up security to the network, and also enable all the ethereum that was locked up in the current chain (prior to the Merge, in order to establish the staking network,) to be removed and used again, (which may not occur until 2023 or 2024.)

Be well, Everyone.

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Articles on Medium this week

Articles

Podcasts
The Cost of Crypto Podcast

This Week In Twitter

This is why #bitcoin and Proof-of-Work is securepic.twitter.com/B5Ruo7VS4i
— Documenting Bitcoin 📄 (@DocumentingBTC) September 15, 2022

Here's what happens when you fork the code and change #Bitcoin to Proof of Stake.

Anyone was welcome to jump on

No one did

It's now worth $0.0541

That 1/400,000 #Bitcoin pic.twitter.com/xshNtXgW2k
— Daniel Batten (@DSBatten) September 17, 2022

Good afternoon.

In typical fashion, @Dr_CSWright put's both feet in his mouth under oath,#BSV'ers hand-wave it away and #Bitcoin 'ers chuckle. pic.twitter.com/iUWg5XiEZg
— Peter Scott-Morgan (@PeterScottMorg1) September 15, 2022

This woman lit the first spark in Lebanon pic.twitter.com/uMvRaJxhSr
— Emrullah Ö. (@GDiagor) September 17, 2022

Unfortunately when you put your ‘money’ in the bank it’s no longer legally your money. It’s the banks money & they can do whatever they want with it. Moral keep your wealth outside banking system.
— Gold and Silver UK (@UKGoldandSilver) September 17, 2022

Is it good for the eth mempool to be at 437k and going up?
— Bitcoin Matters (@1bitcoinmatters) September 16, 2022

top 7 entities controlling >2/3 of the stake is pretty disappointing to see tbh pic.twitter.com/VBipyFUM7g
— Martin Köppelmann 🇺🇦 (@koeppelmann) September 15, 2022

And no, dear Bitcoin fans, it is not better in Bitcoin. In fact you need only 4 entities to come to >72% pic.twitter.com/EdGDN3Mr6S
— Martin Köppelmann 🇺🇦 (@koeppelmann) September 15, 2022

For over 2 years, many of us were vilified, mocked and smeared because we questioned the narrative. Now that the narrative has collapsed like a house of cards, maybe those who vilified us would like to apologise? Of course they won’t. It takes integrity and humility to do that.
— James Melville (@JamesMelville) September 16, 2022

Recommended Viewing

Reports:
What is Bitcoin Mining? The Complete Guide – Bitcoin Magazine

Headlines

–Weekly MacroSlate: Bitcoin facing first global recession as currency collapses, energy crisis becomes reality for Europe

Adoption
–Fidelity Mulls Bitcoin Trading on All Brokerage Accounts: Report

CBDC (are just Surveillance Tokens)

Company / Product / Project News
–Ethereum Switches to Proof-of-stake After 7 Years of Work
–Fireblocks records over $100M in annual recurring revenue, solidifies unicorn status

CRIMES AND SCAMS

DAO

DeFi and Lending
–Celsius Wants to Sell $23M in Stablecoins to Keep the Dream Alive
–Compound Is Marrying a CeFi Business Model With a DeFi Protocol
–Abra Launching First US Regulated Crypto Bank [Being conservative in this space pays off] – link HERE

Exchanges

Fundraising and Sponsorships

Gossip
–Last Ethereum Block Before Merge Minted $47K NFT
–The All-Important Journey To Self-Custody Bitcoin – Bitcoin Magazine
–Ethereum is eating the world — ‘You only need one internet’

Implementation and Infrastructure

Metaverse / Web3

Mining
–Ex-ETH Miner Hive Blockchain Eyes Buying Opportunities Post-Merge
–Michael Saylor- Bitcoin Mining and the Environment

Y'all have no idea how talented my @upstreamdatainc team is.

This #bitcoin generator will pull 96x Whatsminer M30's all day long off of ~3,500 cubic meters of methane per day. pic.twitter.com/3ChJADSlkI
— SGBarbour.larp (@SGBarbour) September 16, 2022