Bitcoiners Run Hardware

The internet, which is the network we currently use for our Bitcoin needs, was supposed to be decentralized, verifiable and private. But after decades of choosing comfort, ease and speed, the internet today is actually quite centralized, with millions of websites and services’ information stored in a few data centers, all of them served by a very limited number of regulated, or even state-owned providers.  All users’ data travels through a reduced number of cables and cell towers and all of it is being identified, analyzed and allowed to go…

Read More

Bitcoin Following Another Government Letdown

​Listen To This Episode: Apple Spotify Google Libsyn Overcast Do not forget to subscribe to the new Fed Watch: Bitcoin And Macro feed. It will be separate from Bitcoin Magazine. Exclusively on the new feed, you’ll find our next interview with the great Max Kaiser. Search for “Fed Watch – Bitcoin and Macro” on your podcast app. In this episode of Bitcoin Magazine’s “Fed Watch,” Christian Keroles and Ansel Lindner discuss the broad macroeconomic atmosphere in which bitcoin finds itself. They touched on bitcoin mining, price, the dollar, commodities and…

Read More

A Hitchhiker’s Guide To Bitcoin Mining In North America

Like a hitchhiker taking to the American highways for the first time, anyone hoping to get a clear picture of the universe of bitcoin mining today might be perplexed at the seeming opaqueness, yet sheer size of the North American mining ecosystem. As a miner recently advised new entrants into the space on Twitter: New players in mining: the industry is massive, disorganized, fragmented, and built by people no smarter than you. There’s plenty of room to shake things up. — Leo (@Leorzhang) January 17, 2021 Distinct from China, which…

Read More

Stop The Bitcoin FUD: Criminal Cryptocurrency Transactions Are Falling

Despite a 2020 that saw the price of bitcoin rise to all-time highs and set new records for stability, it isn’t too difficult to find Bitcoin FUD being spread. But recently released blockchain analysis demonstrates that the “bitcoin is for criminals” narrative is weaker than ever. The FUD Keeps Coming Yesterday, Janet Yellen, the incoming nominee for U.S. treasury secretary, highlighted a common narrative that many believe shines an unfair light on the original cryptocurrency, suggesting that the government will try and regulate its use. “I think many [cryptocurrencies] are…

Read More

The Second Order Effects Of Bitcoin: Digitization, Decentralization And Deflation

Some inventions are so profound that their second order effects reshape the very structures of societies.  The term general purpose technologies (GPTs) is used to describe innovations like electricity, the steam engine and the computer. The paradigm shifts made possible by these inventions are often not initially understood, and can take decades to reach mass adoption. But once the genie is out of the bottle, there is no going back to a world without them. Electricity was invented in the 1870s, but electric motors were not adopted in factories until…

Read More

With Record Bitcoin Buys, How Are Grayscale’s Investors Doing?

Grayscale’s Bitcoin Trust (GBTC) made headlines again yesterday with its record one-day addition of 16,244 bitcoin, adding to its stack of over 630,000 bitcoin and an assets under management (AUM) totaling about $23 billion. Evidently, business is good. So, who are Grayscale’s investors? Is GBTC’s premium an incentive, or a disincentive? And where will this fund move in the future? What Is GBTC?  Grayscale owns bitcoin in its GBTC trust and investors buy shares that represent a number of those bitcoin. There’s a 2 percent per year management fee, in addition…

Read More

Tracing The Growth Of Bitcoin In Pakistan

Bitcoin is currently banned by the State Bank of Pakistan and it’s illegal for businesses, banks and other entities to trade bitcoin in the jurisdiction of Islamic Republic of Pakistan.   But Pakistan is the world’s fourth-largest country by population, and about 50 percent of the population is between the ages of 15 and 40, and only about 4 percent is over the age of 65. So, bitcoin adoption in Pakistan is increasing at a fast pace, even though it’s banned by the State Bank of Pakistan. Many freelancers working in…

Read More

Interview: Cryptograffiti On “Bitcoin Vs. The Fed”

Listen To This Episode: Apple Spotify Google Libsyn Overcast I had the opportunity to sit down with legendary Bitcoin activist/artist cryptograffiti this week to discuss his latest project, “Bitcoin Vs. The Fed.”  You have probably seen cryptograffiti’s art before. He’s well known for his mosaic pictures of Hal Finney and JPMorgan Chase & Co. boss Jamie Dimon, but he’s best known for his art piece “United Nodes Of Bitcoin,” which depicts a U.S. $1 bill with a hooded George Washington and subtle nods to Bitcoin propaganda throughout.  Source In our…

Read More

Are Bitcoiners A**holes?

We’ve been dubbed “Toxic Bitcoin Maximalists” as an attempted insult. We don’t flinch, we wear it as a badge of honor. We make no apologies for our matter-of-factness, our confidence or our meme warfare. You can find us on Twitter, responding to weak arguments against bitcoin (they are all weak) with “Have Fun Staying Poor” rather than attempting to persuade the unserious opponent or lazy critic. Michael Saylor aptly refers to bitcoiners as “Cyber Hornets,” not just because hornets have stingers, but presumably because hornets serve a greater purpose that…

Read More

CoinShares Offers Institutional On-Ramp With Physically-Backed Bitcoin ETP

Today, digital asset manager CoinShares announced the launch of CoinShares Physical Bitcoin, an exchange-traded product (ETP) with each unit backed by on-chain BTC. The product will carry the ticker symbol “BITC.” “BITC will be the first product released on CoinShares’ new institutional-grade ETP platform and will launch with significant assets under management,” according to a release shared with Bitcoin Magazine. “Each unit of BITC is backed with 0.001 bitcoin at launch, providing investors with passive exposure to bitcoin and the convenience of an exchange-traded product.” BITC will be listed on…

Read More