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Health, Wealth, and Happiness

September 13, 2023

“The biggest risk is not taking any risk. In a world that’s changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”

- Mark Zuckerberg

Howdy investors!

There's a question we get quite often: Is mining for bitcoin still a profitable activity in 2023? The answer is "yes" if you're comfortable with mining pools. So, we've updated our look at the best mining pools of 2023.

We think you'll dig it.

Also in the news, crypto investors are signaling their worry about the potential impact of the liquidation of $3.4 billion in digital assets held by now-defunct FTX. What might the coming sell-off mean for your portfolio?

Coinbase has also made a splash with a manifesto arguing that the U.S. could lose massive benefits due to the SEC's "regulation by enforcement only" approach.

Finally, a look at the Ethereum ecosystem, a year after the Merge. Has it been a year already?

Let's dive in!

Best Bitcoin Mining Pools for 2023

by Danielle Greving

Investor Takeaway: For tech-oriented investors, joining a reputable mining pool can offer a stable income stream and reduce the complexities and costs of individual mining. Overall, mining pools present a more accessible and potentially profitable entry point into the bitcoin mining space.

Bitcoin runs on its miners.

Mining bitcoin is also the only way for the blockchain to produce new bitcoins, awarding them to miners as they are digitally unearthed. As a result, successful bitcoin miners can run a profitable business, no matter the market.

Modern mining isn’t an individual process, however. Mining pools have risen to offset the substantial computational costs associated with mining in the bitcoin network–and potentially provide everyday users with a chance to earn bitcoin. 

We've updated our list of the Best Bitcoin Mining Pools for 2023. Here they are.

Dig deeper into mining pools here >>

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New Blockchain Investor Scorecard: Aave

Our Blockchain Investor Scorecards are a quick and accurate way to get high-quality due diligence on crypto investments.

Today, we dig into Aave, the decentralized finance platform specializing in lending and borrowing. Its native token, AAVE, facilitates governance and incentivizes user participation.

As the largest lending platform in the market, our analysts evaluated Aave's competitive advantages, tokenomics, user adoption, and more.

Premium members: Get your copy of the Aave Investor Scorecard and see if it fits your risk tolerance.

Not yet a Premium member? Sign up and get access to our complete library of Investor and Risk scorecards.

Must Read

Today's most important stories for crypto investors.

FTX Looks to Offload Billions in Crypto: Here’s What it Means

(Decrypt)

Investor takeaway: Defunct crypto exchange FTX is in a legal whirlwind, seeking regulatory approval to liquidate $3.4 billion in crypto assets, including significant holdings in Solana, Bitcoin, and Ethereum.

The Delaware Bankruptcy Court is set to rule on this asset sale, managed by Galaxy Digital, with a $200 million limit on weekly token sales.

It's not unrealistic to expect that crypto prices will decline in the short term, due to this large-volume sale. Our approach is still long-term HODLing... but savvy investors can seize any opportunities to buy at sale prices.

This Approach is Hurting American Leadership, Jobs, and Innovation (Coinbase)

Investor takeaway:The G20 has agreed on a global minimum set of regulatory guidelines for cryptocurrencies. Meanwhile in the U.S., the SEC strategy of "regulation by enforcement" seems like a relic from ten years ago.

In this manifesto, Coinbase argues this approach could cost the U.S. up to 4 million jobs by 2030 and has already reduced its share of global Web3 development. One thing's certain for $COIN investors: your company is not afraid to take a stand.

One Year Since the Merge(Coin Metrics)

Investor takeaway: A year after Ethereum transitioned to a Proof-of-Stake model (aka "The Merge"), we've seen the end of Ethereum's multi-billion dollar mining industry. This shift has left many GPU miners with limited options, while validators (particularly Lido) have become the new backbone of the network.

This shift is a great example of the changing landscape of crypto: as the technology evolves, what we invest in should also evolve. (Stay subscribed to this newsletter.)

The Best Crypto Debit Cards for 2023

How to put your crypto on a card, then spend it like cash.

Crypto Could Topple the Global Economy

+ here's what to do about it.

A Beginner’s Guide to Staking in 2023

Discover our favorite staking platforms and strategies.

Crypto is Coming to SWIFT

Which means crypto is coming to the banks.

The Top 10 DeFi Platforms of 2023

The best platforms for staking, lending, yield farming, and more.

Blockchain Basics

Explain Like I'm 5

What is Crypto Mining? The simple explanation:

Click to learn.

Best Staking Rates

The best rates for DeFi staking this week.

Click here to see our current staking yields, updated weekly.

Remember: GPU miners are cheaper; ASIC miners are more powerful.

Bitcoin Market Journal is a daily newsletter that makes you a better crypto investor. It's created by John Hargrave, Steve Walters, Gerald Jackson, Anatol Antonovici, Matthew Du, Daniel Joel, and Preetam Kaushik.

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