Subnostr

Bitcoin Veterans 2y ago

BTC Daily Intelligence Bulletin (DIB)

Block: 823,420

DTG/ICOD: 0800EST 29DEC23

Prcedence: Routine (RR)

Controls: Public Release

QQQQ

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BLUF: Russina pounds Ukraine / Maine drops Trump off the ballot / Fatwa say Bitcoin is OK

Market Data: Price: 1 BTC= $42,861, 20.74oz Gold

24hr Hi: $42,963 / Lo: $42,216

Vol: $23.226B (Down 3.9%)

Mkt Cap: $839.1B (even)

HashRate: 580 EH/s

Avg Fees: 17,481 sats/tx (down 68%)

Nodes: 16,202

---Reports---

-International Events-

1. Russia fires 122 missiles and 36 drones in what Ukraine calls the biggest aerial barrage of the war: The attack killed at least 18 civilians across the country in what an air force official said was the biggest aerial barrage of the 22-month war. The Ukrainian air force intercepted 87 of the missiles and 27 of the Shahed-type drones overnight, Ukraine’s military chief Valerii Zaluzhnyi said. (AP)

2.Thousands of Palestinians flee central Gaza as Israeli troops advance: An estimated 150,000 Palestinians are being forced to flee areas of central Gaza, the UN has said, as Israeli forces advance on refugee camps there.(BBC)

3. Nigeria: Christmas Massacre Death Toll Hits 195, 10,000 Displaced, More Than 1,000 Homes Burned Down: Local authorities in Plateau state, Nigeria, updated the death toll of a presumed jihadist massacre of Christians beginning on Christmas Eve to 195 people on Thursday, warning that the arduous search for bodies in the bush continues and will likely add to the catastrophic number of lives lost(AP/Brietbart)

-US Events-

1. Maine Becomes Second State to Bar Trump From 2024 Primary Ballot: Maine’s secretary of state cites the Capitol riot in her decision, and the second time a state knocked the Republican former president off its ballot and escalating a national legal effort to disqualify him from office.(WSJ)

-Regulatory and Legal-

1. Bitcoin Gets Green Light in Islamic Fatwa: The recent Fatwa of Al-Allamah Abdulrahman Al-Barrak (Sunni Cleric, aged 90+) gives approval to the legitimacy of Bitcoin within the framework of Islamic finance.(CoinMarketCap)

2. India to Block URLs of 9 Offshore Exchanges Including Binance After Issuing Compliance 'Show Cause' Notices: Binance, KuCoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the nine exchanges. The government has also taken the first steps to block the URLs of "said entities that are operating illegally without complying with the provisions of the PMLA (AML Law) in India."(CoinDesk)

-Central Bank Digital Currencies (CBDC)-

1. Bank Indonesia Gears Up for 2024 Trial of Digital Rupiah, a Blockchain-Backed CBDC: BI has announced its firm commitment to conducting a trial for the digital rupiah, the CBDC, in 2024. BI Governor Perry Warjiyo outlined the plan to utilize blockchain technology for the development of a digital Indonesian currency, aiming for wholesale interbank settlement to commence next year.(CoinTrust)

-Institutional Concerns-

NSTR*

-Economic Indicators-

1. Lavrov Highlights 30 Nations' Interest in BRICS as China-Saudi Pact Poses Challenge to US Dollar: In a recent statement by Sergey Lavrov, Russia’s Foreign Affairs Minister, he noted that the BRICS bloc is set to expand in 2024 with new members including the UAE, Iran, and Saudi Arabia. He revealed that approximately “30 countries would like to establish partner ties with BRICS.” Additionally, as November drew to a close, China and Saudi Arabia forged a currency swap agreement valued at 50 billion yuan ($6.93 billion), which some interpret as Xi Jinping’s move to contest the supremacy of the U.S. dollar.(BitcoinCom)

-Technological Updates-

NSTR*

-Security Incidents and Concerns-

1. Crypto Exchange Catalyx Suspends Trading, Withdrawals Following 'Security Breach': The Canadian exchange suffered a security break earlier this month, resulting in the loss of an unknown amount of customer funds. (CoinDesk)

-Bitcoin Community-

1. Bitcoin Worth $1B Leaves Exchanges in Largest Single-Day Outflow in 12 Months: On Wednesday, just over 28,000 BTC worth $1.19 billion left centralized exchanges, the largest single-day outflow in BTC terms since Dec. 14, 2022, according to analytics firm Glassnode.(CoinDesk) (AC-withdrawls like this are often attributed to entities desiring to hold BTC for a longer-term period through self-custody)

-Bitcoin Sentiment-

1. Fear(0)/Greed(100) Index: 65/100 (Down 8 pts)

Analyst Comments (AC): As US hegonomy continues to wane, other countries will look to pick up the power that comes with economic, political, military and social leadership. According to Economist Stephanie Pomboy, the US demise is "really upon us" and Washington is "sleeping through it" (on Tucker Carlson show). The move of BRICS to alternative forms of international settlement and the increasing interest of other conntries to manuever to a "post-US dollar" system is already leading to instability in markets and geopolitics. Countries must make a decsion how global trade will occur, how to control local and regional economies, and transact. 2024 will most likely be a year of foundational change and instability.

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