Humble Bitcoiners!

Today is the 100th issue of the newsletter! Thank you for reading, we hope you enjoy it. It has been a fantastic journey that has only just begun!

Now get ready for your daily dose of Bitcoin signal!
Today's Rundown:
  • Innovation Act: The Keep Innovation in America Act to clarify the meaning of "broker".
  • BTC Rewards: Zebedee and Viker to bring bitcoin rewards through a partnership.
  • Leverage: The derivatives market is the reason for recent bearish price action.
  • UTXOs: Taproot makes bitcoin UTXOs more efficient.

INNOVATION ACT

Congressmen Seek To Strike Bitcoin Reporting Requirements From Infrastructure Bill
By Namcios

The Keep Innovation in America Act is a bipartisan bill introduced by representatives Patrick McHenry and Tim Ryan to fix the "digital asset" reporting requirements in the infrastructure bill turned into law last week.

The infrastructure bill, issued in September, introduced a tax change that would require U.S persons receiving over $10,000 in bitcoin and cryptocurrency to report the sender's personal information to the Internal Revenue Service (IRS).

The new bill aims to exclude miners, developers, and individual users from the definition of "brokers" in order to not hinder the great innovation undergoing in the space, as bitcoin and the cryptocurrency space continues to flourish, being led by the U.S.
Read Full Article

YOUR CHANCE TO WIN...
NEW! - All subscribers to this daily newsletter have a chance to win 2 General Admission tickets to the Bitcoin 2022 Conference AND a 1 year subscription to our quarterly print magazine. Share with your friends and family to have them join today!

BTC REWARDS

We Are Proud To Have Adopted Bitcoin, Says El Salvador's Minister Of Economy
By Namcios

ZEBEDEE, a fintech company focused on enabling Bitcoin services for the gaming industry, has partnered with gaming studio Viker, to bring play-to-earn bitcoin gaming to mobile users worldwide. The integration of Bitcoin and Lightning are now allowing games to enjoy a global, interoperable currency which brings actual monetary value to gaming. Players are now able to earn and withdraw bitcoin to their self-custodial wallets.

Viker has already released three games utilizing ZEBEDEE's payment technology over lightning for both Android and iOS:

  • Wheel of Trivia
  • Wheel of Crypto
  • Balls King

The company plans to release two more games before the end of the year.

“We’re making games more fun and exciting with rewards that have real value. At this part of our journey, Viker is the perfect partner, because they create accessible games that anyone can understand, love and now earn Bitcoin with.” -  Simon Cowell, CEO of ZEBEDEE.
Read Full Article

THE DAILY BITS
Click the links:

1. Bitcoin Magazine has announced a partnership with Ukrainian entrepreneur Serhiy Tron to launch a bureau in Kyiv.

2. Max Keiser talked about the dark future enabled by CBDC and how Bitcoin can come to the rescue.

3. The CEO of Hexa Wallet discusses his vision for building the ultimate bitcoin mobile wallet.

4. RGB protocols promise to enable complex smart contracts that operate on top of Bitcoin and Lightning.

5. A key indicator to track on-chain bitcoin spending behavior and current market sentiment is the Spent Output Profit Ratio (SOPR).

LEVERAGE

How Leverage In The Derivatives Market Dipped The Bitcoin Price
By Dylan LeClair and Sam Rule

Everytime there is bearish price action, the first thing coming to our minds is: What is the cause?

In a recent edition of The Deep Dive, the authors look into the perpetual futures funding rate to find out that there is a likelihood the derivative market bulls got ahead of themselves by speculating with big leverage on the price rising, and upon getting caught on a big correction, many traders were liquidated.

Volatility and price discovery of the bitcoin market is known for its continues shake offs of market participants who are overexposed. It is important to mention that nothing about the on-chain accumulation dynamics or macroeconomics backdrop has materially changed, and this could be an indication that bitcoin is getting ready for the next leg up, by only shaking out "irresponsible" traders.
 
Read Full Article

UTXOs

Taproot Kicks Jevons Paradox For Bitcoin UTXOs Into Another Gear
By Marty Bent


In this piece, we dive into Marty Bent's thoughts, where he explains why bitcoin UTXOs are a commodity, and as bitcoin improves, so too does the commodity of bitcoin UTXOs. With taproot activation, the commodity becomes more efficient, which in turns increases the amount of utility it provides to the market, hence demand for the commodity will naturally increase together with its utility.

In other words, Taproot will enable lower on-chain fees, while simultaneously increasing the utility of the UTXOs, which at the end of the day, lays the groundwork for fees to increase, as the usability for UTXOs becomes much more attractive than the fee reduction.
Read Full Article

Back In PRINT - Save 21% on 4 issues/year!

MEME OF THE DAY
By Spinte

Voting does not solves anything short term. When the state is dragging you down with taxes, inflation and increasing regulations, the best way sometimes is to find a way to opt out.

I see you there Bitcoin, let us be friends.

Keep stacking.
BITCOIN MAGAZINE ISSUE 1
$1000
BITCOIN MAGAZINE ISSUE 2
$650

Visit Our Online Store

Get your Bitcoin Shirts, hats, mugs, magazines & more!
View full store »


    
 
Received this newsletter from a friend?

Sign up to get the best of Bitcoin delivered straight to your inbox.
 
Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking.
PODCAST   JOBS   SHOP
Copyright © 2021 BTC Media, All rights reserved.

View in Browser

You are receiving this email because you opted in via our website. Want to change how you receive these emails? You can update your preferences or unsubscribe from this list.