NETWORK SECURITY

As Bitcoin Turns 13, The Network Is More Secure Than Ever
By Marty Bent

Here's a fascinating and reassuring stat from the mining industry — as it stands right now it would take more than two years for an attacker with more than 100% of the network hash rate to completely rewrite the Bitcoin ledger dating back to January 3rd, 2009 (Happy Genesis Block Day, freaks!). Said another way, the network is pretty damn secure at the moment. More secure than it's ever been. You can rest easy if you have made a transaction that is sitting under a number of blocks.

This new all time high comes as the network hashrate is re-approaching all time highs.

The trend of Proof of Work equivalent days increasing has been raging up and to the right since mid-2019. Back then it would have taken a little less than a year to rewrite the whole chain. The security has more than doubled since then. Which is leading me to believe that this has been the most under-appreciated fundamental data point over the last two and a half years.

THE RISING VOICE OF BITCOIN

In 2021, The Voices Of Bitcoin Rose
By Lamar Wilson

2021 was the year of social audio applications. Clubhouse rose to fame and prominence on the back of the world’s COVID-19 lockdown. Folks all over the world were instructed to stay inside and away from other people. They were told to wear masks and to sanitize their hands as often as possible. Cabin fever had risen to critical levels. People were looking for a release. They found that release in social audio.

One group of individuals built new tribes. They burned bridges, shilled DCA to every newbie they saw, spewed toxicity and vitriol toward perceived scammers and babycoiners, but mostly shared love and education while chewing a wagyu ribeye steak in their underwear on their chaise lounge. This group of individuals I speak of are Bitcoiners.

Bitcoiners from all over the world joined in a chaotic, harmonious chorus on many of the social media applications. Bitcoin voices were now being heard.

While Bitcoin Twitter provided small bites of text, Clubhouse became a smorgasbord of monologues, banter and tirades centered around bitcoin being the soundest money ever created.

THE DAILY BITS

HUT 8 HODLS

Hut 8 Ends 2021 With 5,518 BTC In Reserves, Secures $30M Loan

By Namcios

Hut 8, a publicly-listed bitcoin mining company, mined 8.9 BTC per day on average in December, totaling 276 bitcoin produced in the month, the company said in a statement Wednesday.

Following on its “hodl” strategy, Hut 8 said it deposited all bitcoin produced in the period into custody, and its bitcoin holdings now amount to 5,518 BTC, a 97% increase from the previous year-end.

“2021 has been a year of transformation for Hut 8, with a focus on not only rebuilding and upgrading, but future-proofing our operations,” Hut 8 CEO Jaime Leverton said in a statement.

MEME OF THE DAY