Hello Humble Bitcoiners!

The Bitcoin 2022 conference starts today!  With more than 30,000 guests awaiting for a weekend full of surprises.

Tune in!
📝 Today's Rundown
  • Building On Bitcoin: Building on the Bitcoin blockchain using Layer 2 technologies while leveraging the security and censorship-resistance it provides.
  • Mining At Home: Besides KYC free, mining bitcoin at home brings unique security threats.

🏗️ BUILDING ON BITCOIN

Building Applications On Top Of The Bitcoin Protocol
By Emmanuel Awasika

For years, Ethereum has been the network of choice for developing decentralized applications (DApps) and non-fungible tokens (NFTs) because of its higher throughput and Turing completeness that allow executing complex applications. However, because of the immense advances in technology, developing applications on top of the Bitcoin network has become easier than ever.

The author of this article explains how developers can now easily build on top of Bitcoin and also enjoy all the benefits of the network, such as its censorship-resistance, liquidity and enormous network effects. He talks about the challenges and benefits of building on top of the world’s most secure network, the lightning network, rootstock, stacks and more.
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📰 THE DAILY BITS
1. Bitcoin offers a peer-to-peer solution to the client/server model that finance has gradually shifted toward in the 20th century.

2. Lightning Labs announces $70 million series B raise. The company will employ the round's proceeds to fund its efforts in developing Bitcoin and Lightning software, including the new Taro protocol.

3. Taro, a new protocol proposed by Lightning Labs, leverages Taproot and the Lightning Network to bring new assets and scalability to Bitcoin.

4. River Mining takes care of hardware procurement, hosting and maintenance while enabling customers to easily monitor the performance of their mining portfolio.

5. One does not simply change Bitcoin’s code, as the Change The Code campaign ridiculously requests.

☕ MINING AT HOME

Basic Threat Modelling For Bitcoin Mining At Home
By Zack Voell

Bitcoin mining is an activity that involves capital, profit and expensive hardware. For that reason, it is essential for small or at-home miners to be aware of the intrinsic risks that entails the conversion of electricity into KYC-free units of censorship-resistant internet money. From cyberattacks to $5 wrench attacks, Bitcoin miners need to acknowledge all their possible threats and prepare accordingly for any kind of danger. 

The author of this article writes about the importance of “threat modelling”, an intuitive and deductive way of assessing what risks exist and how to mitigate them while mining Bitcoin at home. He also shares some useful resources, such as a surveillance and self-defense guide, the “Threat Modelling Manifesto”, an article on available methods for successful threat modelling and more.
Read Full Article

MEME OF THE DAY 
By BTCReserveHQ

We all know hard money is the best money, but for a government to decide and push for it, takes high sacrifices as they giveaway the power and control of the issuance of money.

In the long term it might be beneficial for everyone, but unfortunately, some politicians only care about their personal short term gain.

With love,
Bam

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