Written September 21, 2021 You have probably heard of the petrodollar. You may not know the ins and outs, but you have heard the term in history class or on some podcast. In a very simple and reductive way, it is an abstract noun meant to show the political and military denomination of the United States’ dollar as the sole purchasing currency of oil. By creating the exclusive medium of exchange to be their dollar, be it in treasuries, bonds Read more …
Watch This Episode On YouTube Listen To This Episode: In this episode of Bitcoin Magazine’s “Fed Watch” podcast, I discussed the emerging story of the week, Evergrande and the Chinese recession. We first brought up Evergrande on episode 60, back on August 11, and at the same time I made the call that China would enter a recession within three months. Our position on “Fed Watch” has been bearish on China for over a year, and my personal position has Read more …
The mayor of Miami, Florida, sees China’s cryptocurrency crackdown as “the turning point” that “creates an incredible opportunity for America.” He said: “Their loss is our gain and America can and will lead the future by providing a clean power home for bitcoin miners and all who are building on/with/for bitcoin.” Miami Mayor Sees US Benefiting From China’s Crypto Crackdown Miami Mayor Francis Suarez, who has been trying to build his city into a bitcoin hub, sees the crypto crackdown Read more …
Bitcoin is divisible down to the eighth decimal place. These subunits are called “satoshis” or just “sats.” One satoshi is 0.00000001 btc. Unfortunately this is impossible to read for small sat values. And as time goes on, we all expect bitcoin to keep appreciating to the point where smaller sat-denominated transactions will become the norm. So I’m generally on team #SatsTheStandard; instead of 0.00001042 btc, we can instead display: 1,042 sats But for large amounts we have the opposite problem. Read more …
On Tuesday, Salvadoran president Nayib Bukele shared a video of a bitcoin mine operating adjacent to a volcano. Bukele discussed the volcano-powered bitcoin mining on June 9 when he talked about the “95MW of 100% clean, 0 emissions geothermal energy from our volcanos.” El Salvador’s Nayib Bukele Shares a Video of the ‘First Steps’ Behind the Volcano-Powered Bitcoin Mine Construction The president of El Salvador shared a video via the social media platform Twitter that said “First steps,” as the Read more …
Bitcoin, among other cryptocurrencies, may soon be used legally in Ukraine, once President Volodymyr Zelensky signs the legislation passed by Ukraine’s Parliament on September 8. This law will protect owners of virtual assets and exchange platforms from fraud, and rumors abound that Ukraine is gearing up to transition to a fully digitized economy and deem bitcoin as legal tender. The legislation will help to determine how Ukraine will regulate the cryptocurrency market in the future as well as officially allow Read more …
Orlando Bravo, the cofounder of private equity firm Thoma Bravo, told CNBC today that he is an investor in bitcoin and a believer in its potential to surge in value over the coming years. “Institutions are just beginning to go there, and once that happens, I think it will increase significantly over the years,” Bravo said about bitcoin. Thoma Bravo recently participated in a Series B funding round for bitcoin exchange FTX, currently valued at $18 billion. Thoma Bravo has Read more …
There could be a number of factors contributing to the rising price of bitcoin mining ASICs, components that are central to the specialized machines used to secure the Bitcoin network in exchange for BTC rewards. Supplies are strained, worldwide shipping lanes are congested, there is growing demand from Chinese miners relocating outside of China, and there’s skyrocketing demand and interest in bitcoin. Even COVID-19 has seemingly been a factor, as Whatsminer factories in Thailand and Malaysia were almost forced to Read more …
In search of ways to heal its travel industry, hurt by the pandemic, Thailand is now recognizing an opportunity to tap into a growing market of cryptocurrency holders. Fostering a “cryptourism atmosphere” is what the country’s tourism agency intends to do, including by minting a new token and facilitating bitcoin card payments. Tourism Board of Thailand Plans to Employ New Coin to Spur Demand From Crypto Market Pondering how to capitalize on the expanding global crypto user base, the Tourism Read more …
Missouri Mayor Jayson Stewart plans to give every household in Cool Valley $1000 worth of Bitcoin. Cool Valley, Missouri, a small town in the St. Louis County area, has about 1,500 residents. Jayson Stewart told Bitcoin Magazine in an interview that Bitcoin has “given me a new way of thinking about humanity in the future.” He continued, “It’s given me a hope, and an optimism that we can overcome some of the worst parts of the system that we’re born Read more …
press release PRESS RELEASE. Zug, Switzerland: SwissOne Capital AG, a specialized digital asset manager with a focus on blockchain investment funds, has partnered with ISP Securities AG for the launch of their Smart Index Crypto Fund Tracker Certificate. This fund tracker certificate is the first of its kind to capitalize on 50 of the best-performing cryptocurrencies, offering unprecedented market exposure compared to individual currencies, exchanges, DeFi, and other platforms. SwissOne Capital’s deep experience in the crypto space combined with their Read more …
Americans are not only worried about future inflation, but they are also dealing with dwindling purchasing power in real-time. Meanwhile, on Thursday, Federal Reserve chairman Jerome Powell plans to address the Senate Banking Committee and discuss inflation. In the remarks pre-published from Powell’s speech, the Fed chair noted that the recent inflation spike may last longer than the central bank anticipated. Fed Chair Jerome Powell: ‘Inflation Effects Have Been Larger and Longer-Lasting Than Anticipated’ If you were to read reports Read more …