Humble Bitcoiners!
It's Thursday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
Only five days before Bitcoin becomes legal tender in El Salvador — From this day on, every single time you stack, you are helping Salvadorans, helping the world.
Did you stack today? |
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| Today's Rundown: Earning Interest Aids Shorters: How does the innocent act of earning interest actually support short sellers. On Regulations: Remarks about Bitcoin before the European Parliament. Replacing The Dollar: Potential for bitcoin to become a reserve currency Geopolitical Play: President Lukashenko urged citizens to mine bitcoin. Let's do this. |
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EARNING INTEREST AID SHORTERS |
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You're Helping Short Sellers If You Earn Interest On Bitcoin
By Raymond Walsh The seemingly innocent act of earning interest on bitcoin actually supports short sellers.
Within the last years, it has become increasingly popular to store your bitcoins in a third party which offers an annual interest of return. But how does this happen? Who would offer interest for such a volatile appreciating asset? And why would someone pay to borrow Bitcoin?
The author gives us a detailed explanation, explaining that traders borrow bitcoin in order to execute different strategies: Call sellers Futures sellers Short sellers In basic terms, offering your bitcoin up to be borrowed for trading, could lead to positions against yours, which could hinder the positive price action in the short term while risking your funds. Just by exercising personal responsibility and storing your own keys, you are contributing to the movement driving the price up through absolute scarcity. HODLing benefits you and the entire network.
"Many of us are in this for the revolution, for the separation of money from the state. But that perspective comes only after you’ve learned a bit about bitcoin." - Raymon Walsh |
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LEVEL UP YOUR BITCOIN KNOWLEDGE |
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Gary Gensler Speaks To The European Parliament On Bitcoin And Crypto Regulation
Gary Gensler, the chairman of the U.S. Securities and Exchange Commission, delivered remarks before the European Parliament, comparing Bitcoin to the early internet in terms of world-paradigm-shifting technology.
By comparing it to being in the 1990s in terms of internet adoption, the message was rather positive — bitcoin is a borderless technology, an innovation that has been and could continue to be a catalyst for change in the fields of finance and money.
He also made hints that the highest chance of approval from the recent filled ETF proposals, are those ones based on bitcoin futures.
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Click the links:
1. Twitter is now testing the ability to tip users in Bitcoin through Jack Maller’s lightning network app Strike.
2. Bitcoin rewards company, Fold, is going full on Lightning by the end of 2022 and has partnered with OpenNode to start the process soon.
3. A pair of high-ranking officials in El Salvador’s ruling party, Nuevas Ideas, took aim at critics who stand in opposition to the country’s forthcoming bitcoin legal tender law on Tuesday.
4. Bitcoin Core’s most prolific developer, Marco Falke’s work is the daily maintenance and testing of an open-source project that must reject error.
5. Low on-chain activity raises questions regarding current investor demand for bitcoin, but patient investors are increasingly accumulating.
6. These books can help you expand your bitcoin knowledge, as well as your understanding of the world. |
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The Fiat Dollar System Is No Privilege: The Burden And Why The U.S. Will Adopt Bitcoin
By Ansel Lindner As the USD’s reserve currency status crumbled, the U.S. will abandon globalization and adopt a bitcoin standard. Being the issuer of the world reserve currency, the U.S. dollar, often comes with benefits. In this article the author, Ansel Lindner, walks us through why the current financial system has actually been a burden on the United States, as other nation states have also been issuing the dollar in an alternate form — the Eurodollar.
The author proposes the thesis that the fiat dollar system is coming to an end, and the reasons why and how Bitcoin will be the ultimate winner, taking the role as the next reserve currency. According to the author, the transition will likely happen at local banks level, instead of at the government or central banks level, allowing the move to play out smoothly.
"This process would entail a drastic weakening of the Federal Reserve, and a return to a somewhat forgotten era in the U.S. where banks, not central banks, were ascendant. As the U.S. rediscovers its populist and non-interventionist past, it will also redefine its monetary system in line with the past as well, this time around bitcoin." - Ansel Lindner |
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Belarus President Urges Citizens To Mine Bitcoin Rather Than Seek Low-Paying Jobs Overseas
By Namcios
The President of Belarus said in a meeting that citizens should mine bitcoin with the country's abundant energy instead of seeking low wages abroad.
In a meeting, President Lukashenko emphasized the abundant energy of their country, and enticed the population to take advantage of it to mine bitcoin. It is known that the population migrates towards Poland or Germany in order to seek better opportunities, and with this message, the president wishes to retain the population and exploit opportunities which could help the local economy prosper while also helping the country to be competitive world wide.
The bitcoin mining space is competitive, and as it gains more interest from the public it will end up being a battle of abundant and cheap energy sources.
"We must understand, they are not waiting for us anywhere" - Alexander Lukashenko |
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By Spinte.HODL
The feeling in the morning when the price is running away from you before your daily stack!
Keep stacking! |
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Keep on reading, keep on stacking. |
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