Weekly Nr. 15 - Bitcoin has no top

Thought of the week by Anita Posch

Seems Bitcoin is still for the crazy people. Those who dare to not only think differently than the mainstream, but also have the guts to bear up against accusations such as "Bitcoin is boiling the oceans!". Which it is not. As an environmental conscious person this topic bothers me a lot and I am collecting all sorts of articles and research to write a rebuttal in the next weeks. If you have good resources please send them to me.

"Clean" mining is censored mining

In my recent interview with Andreas M. Antonopoulos - btw please subscribe to my YouTube channel - we were discussing threats to Bitcoin such as the slippery slope of more and more regulations. In the traditional financial world many banks are over-fulfilling the rules and this is starting to happen in Bitcoin too.

Two of the largest Bitcoin mining companies in North America, Marathon Patent Inc. and DMG Blockchain Solutions Inc., recently joined forces to create the Digital Currency Miners of North America (DCMNA) nonprofit trade group, the first North American mining pool with a legal entity. Together, they're pioneering a technique they call “clean mining,” meaning they're promising to only mine transactions that the government approves of.

I would call that mining censorship. I interviewed Jameson Lopp this week about strategies and the possible outcomes regarding Bitcoin mining. Interview will be out on Thursday.

Quote of the Week

"Bitcoin has no top, because Fiat has no bottom." - Max Keiser

Top Stories

Central Bank of Nigeria bans cryptocurrencies

This week the Nigerian Central Bank published a directive ordering banks to close down accounts associated with cryptocurrencies. I do not think that this will have a huge impact on the use of bitcoin in the country. Most people use it as a hedge against their inflating local currency and as a store of value. For example the women of the Nigerian Feminist Coalition (watch my interview with them) used bitcoin very successfully to fund their protest movement. (Source)

City of Miami accepting Bitcoin

The city of Miami is going forward by enabling employees to be paid in bitcoin and by collecting fees in btc and even investing city treasury.

Democrat Andrew Yang wants to make NYC a Bitcoin hub

Jack Dorsey, JAY-Z and Mr. Carter (who ever this is) are funding African Bitcoin start-ups

JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development, initially focused on teams in Africa & India. It‘ll be set up as a blind irrevocable trust, taking zero direction from us. We need 3 board members to start: https://t.co/L4mRBryMJe

— jack (@jack) February 12, 2021