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An Orange Pill For Bitcoiners
By Austin Herbert                       

Austin Herbert believes that Bitcoin is still at a very early stage of its adoption curve and that Bitcoiners need an "orange pill" for themselves.

He explains how Croesus_BTC estimates that there are 250,000 Bitcoin maximalists who hold 50% of their net worth in Bitcoin.

Herbert then reflects on his own journey to become a Bitcoiner and his belief that Bitcoin can solve many problems. While trying to convince people closest to him to invest in Bitcoin, he found that these people only invested for financial gain and not for the values of the movement itself.

He argues that if one wants to convince others to become Bitcoiners, they should simply explain the various ways that fiat doesn't work and the ways that Bitcoin will. But there are people who cannot be forced to understand Bitcoin — they must come to that conclusion on their own.

🤑 Marathon Sells

Bitcoin Miner Marathon Digital Sells BTC For First Time In Two Years
By BtcCasey

Marathon Digital, one of the largest publicly traded bitcoin mining companies, sold 1,500 BTC for the first time in two years.

The sale was a strategic financial move to fund monthly operating costs, but the company intends to continue selling a portion of its bitcoin holdings.

Marathon Digital still holds one of the largest public bitcoin treasuries in the world and increased its unrestricted bitcoin holdings from 7,815 BTC at the end of 2022 to 8,090 BTC at the end of January 2023.

The company ended January with $133.8 million in unrestricted cash and remains confident in its ability to scale into one of the largest and most energy-efficient bitcoin mining operations globally by 2023.

📰 The Daily Bits

🇦🇺 Australia Regulations

Australian Government Releases First Steps To Regulate Crypto And Bitcoin
By BtcCasey

The Australian government has announced the first step of a multi-stage plan to regulate cryptocurrencies.

The plan consists of three elements: strengthening enforcement, improving consumer protection, and creating a framework for reform. The first step involves the Australian Securities & Investments Commission (ASIC) increasing the size of its cryptocurrency team and increasing enforcement measures, such as taking legal action against cryptocurrencies marketed without proper licenses.

The government is also taking steps to prevent scams by establishing a National Anti-Scams Centre. A token mapping consultation paper was also introduced to determine which parts of the cryptocurrency ecosystem need further regulation. The stated aim of the regulation is to protect consumers while providing oversight and clarity, but its impact on growth and innovation is yet to be seen.

MEME OF THE DAY 

By @TheBitcoinConf

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