Humble Bitcoiners!
It is with great pleasure that we bring you today's newsletter! Sit down and get ready for your daily dose of Bitcoin signal! |
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Today's Rundown: - China Lost: A geopolitical unnoticed mistake.
- Self-Sovereign Economy: Bitcoin company Synonym, launches architecture for a self sovereign economy.
- Another ETF: VanEck's bitcoin futures ETF is the third to launch.
- Futures: Bitnomial launches margined "physically" settled bitcoin futures.
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China's Bitcoin Ban Is The Unnoticed Geopolitical Event Of The Decade
By Rob Price It has been some months since China decided to ban bitcoin mining and push bitcoin companies out of their jurisdiction. Prior to the ban, the country was hosting at one point 75% of bitcoin's hash rate, which was a reason of critique as a state coordinated 51% attack was a possibility.
At the end of spring, when China's decision was made, there were fears of what would happen with the vast amount of hashrate lost in just a matter of hours. Incredibly, Bitcoin preformed as usual, displaying its resiliency. Over the last month, several different areas have seen growth in bitcoin mining, further increasing its decentralization.
As bitcoin continues to grow in adoption and value, its potential to become the world reserve currency becomes clearer and clearer. With this in mind it is reasonable to say, China lost the biggest opportunity by letting its miners go.
"China may have handed a strategic global resource of the future to the rest of the globe." - Rob Price |
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Bitcoin Company Synonym Launches Architecture For A Self-Sovereign Economy
By Namcios Synonym Software, a company dedicated to bringing new utility and user experiences to Bitcoin and the Lightning Network, has officially launched. The company is focused on bringing bitcoin a step closer to "hyperbitcoinization."
By combining the Lightning Network's speed and efficiency with an architected ecosystem of open P2P platforms and applications, Synonym hopes to accelerates Bitcoin's ability to act as independent and self-regulated economy. For this purpose the company released Slashtag, a protocol that leverages a web of trust model to create interoperable, uncesorable networks connected via encrypted private channels.
With Slashtags, it will now be possible to revolutionize social media by enabling the creation of a user-centric decentralized social media where users are able to monetize their own data.
"You simply do not need a blockchain to create what they call 'Web3' user experiences and designs. We are solving the same problems using Slashtags and Hypercore to establish a new social economy web paradigm without the nonsense of unscalable blockchain bullshit" - John Cravallo |
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Click the links:
1. The third bitcoin futures exchange-traded fund in the U.S. has gone live on the CBOE under the ticker XBTF.
2. Cash App’s users will be able to send bitcoin to Taproot-enabled wallets by December 1, 2021.
3. Human Trafficking Institute will accept bitcoin donations both on-chain and through the Lightning Network leveraging OpenNode.
4. A group of Bitcoiners explore why having decentralized identity may be just as important as decentralized money. |
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Australian Baseball Club Embarks On A Bitcoin Standard, Integrates Lightning
By Namcios
The Perth Heat, the Australian Baseball League's most successful club, is officially the first sports league to embark on a bitcoin standard, as reported to Bitcoin Magazine. The Heat will fully integrate Bitcoin and the Lightning Network into its operations to accept bitcoin payments, pay salaries to players and staff and even hold bitcoin on its balance sheet.
Being one of the first movers onto the bitcoin standard is simple, but definitely not easy. This might be one of the bravest and most intelligent financial moves the team could have made to guide them into prosperity.
“We look forward to setting the bar for how much value a sports organization can bring to a community in the Bitcoin age” - Steven Nelkovski, CEO of Perth Heat |
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NBA Team Houston Rockets to Integrate Bitcoin Services, Be Paid In Bitcoin
By Namcios
Houston Rockets, a team from the National Basketball Association (NBA), has partnered with NYDIG to incorporate Bitcoin services through a sponsorship paid in bitcoin.
The Rockets will work together with NYDIG to increase access to the Bitcoin ecosystem by offering educational programming and support of community initiatives. The partnership does not disclose exactly what is in it for NYDIG, but one could guess that this is a beneficial move for the company as its name become renowned in the world of sports, and it's likely a second team will end up following and joining the bitcoin ecosystem.
"Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates" - Gretchen Shierr, President of Business Operations. |
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