|
| BROUGHT TO YOU BY |  |
|---|
Humble Bitcoiners!
It's Tuesday, so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
Did you stack today? |
|
Today's Rundown: - The Art Of HODLing:Â The reason why people who buy bitcoin hold on to it.
- A Warning!:Â Midwest Utility mines bitcoin to balance electricity supply.
- Advancing Science: Bitcoin could bring competitiveness back to science.
- Bias Against Bitcoin: Why academia has such resentment towards bitcoin technology?
Let's do this. |
|
|
Here Is Why Most People Who Buy Bitcoin Hold On To It
By Jerry Goddard This survey describes the ins and outs of popular opinion on bitcoin.
Bakkt has recently released a survey which shows a picture of the state of bitcoin adoption in the U.S..The findings are interesting as it highlights the effects of the Bitcoin narrative that has been developed in the past few years: Stack sats, or bitcoin as a savings technology.
Some of the results of ways Americans are using the technology: - 58% see it as a long-term investment
- 24%Â to use it for online purchases
- 11% to transfer to friends or family members.
What are the challenges? - Stomaching the volatility
- Not knowing where to start
It is incredible how bitcoin has entered a state of normalization into society — it makes one believe we are on a path to hyperbitcoinization. |
|
LEARN & EARN BITCOIN - 2 DAYS LEFT! |
|
You Can Now Auto-Convert Your Paycheck To Bitcoin With Coinbase
By Alex McShane Coinbase is rolling out paycheck direct deposits and auto-conversions into bitcoin in the next few weeks. With this new feature, users will basically be able to use Coinbase as their own "bitcoin bank account" and be able to use their Coinbase debit card to earn rewards.
There is a saying that goes: with great power, comes great responsibility, and it fits perfectly into this specific scenario. Just as users could more easily get exposure to bitcoin, this feature doesn't limit the auto conversion to only Bitcoin, which makes it likely that some users will experience pain in the near future, as it gets easier to pour money into risky volatile projects.
It is our moral responsibility as bitcoiners, to help those close to us to not succumb to the gambling tendencies of finding the "new bitcoin" and to guide them through the difference of "hard money" and "cryptocurrency projects,"Â and teach them the ways of DCA and HODLing; to lower their time preference and focus on Bitcoin as a savings technology, and to not a get rich quick mentality. |
|
Click the links:
1. Bitcoin price could 10X but JPMorgan CEO Jamie Dimon continued his history of criticism against Bitcoin, saying “I think if you borrow money to buy bitcoin, you’re a fool.”
2. All of CleanSpark’s hashrate is now up and mining on Foundry USA Pool, with plans to double it by the end of the year.
3. Huobi Exchange said that its platform would not be serving any user from China by the end of the year.
4. In this episode of “Meet The Taco Plebs,” Mind/Matter and Casey Carrillo discussed the connections between the low time preference effect of bitcoin and health
5. Leading Bitcoin Lightning Network developers recently discussed the future of this Layer 2 protocol.
6. Bitcoin Magazine has intercepted a message that appears to have come from a time yet unknown... |
|
Bitcoin Will Advance Science And Technology
By Alex McShane A Weekly Series Of Essays About The Language Of Bitcoin
These weekly essays focuses on how the immutable bitcoin properties of scarcity and censorship resistance could help in advancing science and technology in a world where science isn't competitive, as it is no longer allowed to fail through support by government money printing.
With bitcoin, anyone is allowed to accumulate property and allocate resources without restriction. Its scarcity ensures competition in the free market, as its ever increasing demand drives its price up; future money allocators will likely be more careful when deciding which projects to allocate their hard earned bitcoin into.
The effect will likely be an increasing competition in science, together with an increasing incentive and pressure of developing breakthrough innovations in order to be able to gather funding.
"Centralized systems potentiate the disastrous rise in misplaced power. We’ve seen this time and time again. Within our university and scientific communities, it is the centralized issuance and reliance upon government funds that allows for all the misplaced energies and undue emphasis on increasingly arcane and soft science subject matter." - Alex McShane |
|
| What leads the institutions of higher learning to harbor such resentment toward the technology?
Academia seems not to be a fan of bitcoin, as the vast majority of professors are hugely biased against the technology having called it: - A bubble
- "the mother of all scams"
But bitcoin is only a protocol, a set of rules without rulers, which is enticing for many as the lack of control over Bitcoin from a central party, keeps it from being fixed in favor of the already rich and powerful.Â
What academia seems to fail to grasp is Bitcoin's main value proposition, the lack of central management. It takes away the ability of central planners to set the rules of the market, the power of money allocation. Academia has a conflict of interest, as they are the central planers and benefit directly from centralized money systems through employment opportunities as decision makers. This could be a reason why the focus is mainly on attacking bitcoin, instead of discussing the inherent fiat system risks such as totalitarianism through monetary control and unfair actions by those managing the money printer. "There is an unacknowledged conflict of interest in academia: Since academics are the central planners, they are incentivized to come to research conclusions that advocate heavy central planning." - Hannah Wolfman-Jones |
|
By Bitcoin Magazine
The Bitcoin Conference is coming closer, and as it does, prices are rising each month. Today there is a new price to attend to the best conference in the bitcoin space, come join us and get to know the Bitcoin Community. Here is where we find the people to build our Citadels with!
The price will rise again at the end of October, don't miss your chance!
Keep stacking! |
|
 | |
Received this newsletter from a friend?
Sign up to get the best of Bitcoin delivered straight to your inbox. Â |
|
Today's email was brought to you with ♥ by Bam.
Keep on reading, keep on stacking. |
|
|
|
|
