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
The Cost of Crypto Podcast
This Week In Twitter
CBDC (are just Surveillance Tokens)
CRIMES AND SCAMS
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
Fundraising and Sponsorships
Implementation and Infrastructure
Metaverse / Web3
Nation States (and other political jurisdictions)
Regulation, Legislation & Legal Matters
–CFTC Preparing to Oversee Crypto, Behnam Tells Senators
–OFAC Lawsuit Details Crypto Industry’s Sanction Concerns
The Wall Street
KEEP AN EYE ON THIS –> https://bitcointreasuries.net/
…AND THIS –> https://www.buybitcoinworldwide.com/treasuries/
–Finance Giants Join Forces To Launch Crypto Exchange
News Outside The Space
You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.
Categories: Weekly Headlines