No market can be truly efficient on a fiat standard
BTC Daily Intelligence Bulletin (DIB)
Block: 834,504
DTG/ICOD: 0800EST 13Mar24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: Putin Says Russia is Nuclear Ready / Ukraine Knocks out Half of Russian Oil Refining / US Ship Enroute Gaza / Trump and Biden Win Delegates for Nomination / US CPI Data Slightly Higher at 3.2% / COPA Seeks Criminal Charges Against Craig Wright /
Market Data: Price: 1 BTC= $73,166, 33.82 oz Gold, .17 Median US House
24hr Hi: $73,475/ Lo: $68,728
Vol: $64B (Up 21%)
Mkt Cap: $1.44T (Up 2%)
HashRate: 592 EH/s
Avg Fees: 7,868 sats/tx (Down 32%)
Nodes: 18,372
---Reports---
-International Events-
1. Putin warns the West: Russia is ready for nuclear war: President Putin warned the West on Wednesday that Russia was technically ready for nuclear war and that if the U.S. sent troops to Ukraine, it would be considered a significant escalation of the conflict. (Reuters)
2. Ukraine knocks out Russian refinery in major attack: Industry sources said that the main crude distillation unit (AVT-6) at NORSI was damaged in the attack, which means that at least half of the refinery's production is halted. Lukoil declined to comment. (EuraActiv)
3. U.S. Ships Leave Virginia for Gaza: U.S. Army ships are moving to the Eastern Mediterranean to build a pier to supply civilians in Gaza with essential supplies. The ships will establish a roll-on, roll-off capability that will allow ship-to-shore humanitarian assistance to the people of Gaza. "We expect the pier to be fully operational in approximately 60 days which will be able to facilitate the delivery of about 2 million meals per day," (DoD Release)
-US Events-
1. Trump Wins Delegates Needed to Become GOP’s Presumptive Nominee: With wins in Georgia, Mississippi and Washington state, Trump surpassed the 1,215-delegate threshold needed to become the presumptive Republican nominee. He’ll formally accept the nomination at the Republican National Convention in July, by which point he could be in the remarkable position of being both a presidential candidate and convicted felon. (Breitbart)
2. New Federal Judiciary Rule Will Limit ‘Forum Shopping’ by Plaintiffs: For years, litigants have tried to cherry-pick the judges in sweeping cases on abortion and immigration. Random judge selection is about to make that harder. (NYT)
3. Biden special counsel Robert Hur takes fire from all sides: Hur’s report cleared Biden of wrongdoing, but he still drew the ire of Democrats with his comments on the president’s memory. Hur in the hearing said that his report did not exonerate the president, which some Democrats had claimed, but said he ultimately did not find charges were warranted. (The Hill)
-Regulatory and Legal-
1. South Korea Preparing Tax System to Avoid Cryptocurrency Tax Evasion: The National Tax Service in South Korea is preparing to launch a virtual asset tax system to help analyze the information received from cryptocurrency holders to avoid cryptocurrency tax evasion. Local sources reported that the agency had contracted the services of a third-party company to help in this task, and it is scheduled to be launched next year. (BitcoinCom)
2. Tether Collaborates With FBI and Justice Department To Seize $1,400,000 in USDT From Crypto Wallet: USDT issuer Tether has helped top US government officials seize digital assets from an unhosted crypto wallet. In a new announcement, Tether says it has worked with the FBI and the US Department of Justice (DOJ) to take $1.4 million in USDT from a “scam network.” (DailyHODL)
-Institutional Concerns-
1. Grayscale plans spin off of spot bitcoin ETF: The spin-off is part of a bid to offer investors lower-fee exposure to bitcoin, according to a person familiar with the matter. (Reuters)
2, SEC Orders First Trust-SkyBridge to Declare Its Bitcoin ETF Application Abandoned: First Trust was one of the first to file for a BTC ETF, and was rejected by the SEC in January 2022. (CoinDesk)
-Central Bank Digital Currencies (CBDC)-
1. Putin Signs ‘CBDC, Digital Assets Payments’ Bill into Law: Russian President Vladimir Putin signed a law allowing firms in the country to use digital financial assets including the digital ruble in international payments on March 11. (CryptoNews) (AC- This is a complicated bill. It allows the Russian Central bank to monitor and issue a digital Ruble but also allows firms and international payments to occur in many different digital assets. All firms would need to report in a Russian accounting system, however)
-Economic Indicators-
1. US Inflation Rate Unexpectedly Rises to 3.2%: Annual inflation rate in the US unexpectedly edged up to 3.2% in February 2024, compared to 3.1% in January and above forecasts of 3.1%. (TradingEconomics)
2. US S&P 500 Hits Fresh Closing Record: US stocks finished higher on Tuesday, with tech shares resuming their recent rally amid slightly higher-than-expected inflation data that had little impact on expectations for the first rate cut by the Fed in June. The S&P 500 rose 1.1%, to a new closing high, the Nasdaq gained 1.1% and the Dow Jones popped 235 points. (TradingEconomics)
-Technological Updates-
1. US Justice Department increases focus on artificial intelligence enforcement: The DOJ is stepping up its focus on AI with a top official warning on March 5 that companies and individuals who misuse the technology for white-collar crime, such as price fixing, fraud, or market manipulation, will be at increased risk of a harsher sentence. (CoinGeek)
-Security Incidents and Concerns-
NSTR
-Bitcoin Community-
1. Coinbase looks to raise $1 billion via bond offering amid a bullish market trend: The bonds, designated as unsecured convertible senior notes, are set to mature in 2030, offering investors the option to convert their holdings into Coinbase shares or cash at that time. (CryptoSlate)
2. COPA to seek criminal charges for Craig Wright’s Satoshi ‘lies’: COPA argued that the evidence clearly shows that Wright did not invent Bitcoin, write its White Paper, or produce the code. (CryptoSlate)
3. The Converging Interest Between Psychedelic Therapy And Bitcoin: Though this combination may seem unexpected, many in the bitcoin community believe the two are naturally interconnected. "Bitcoin and plant medicine both encourage self-discovery and responsibility, emphasizing the pursuit of meaningful life values over instant gratification. While neither is a magical fix, if one walks such a path long enough, it can only result in positive outcomes.", said Tom Taber, co-founder of Montana Sagrada. (Forbes)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 81/100 (Even)
Analyst Comments (AC): The presidential political season will officially begin this week as Trump and Biden will both receive nomination in their respective parties. It promises to be an exciting and divisive year full of 5th generation warfare (5GW) tactics and countertactics.
Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report
Because it’s going up forever, Laura.
Good morning ☕️
Join Bitcoin Veterans LIVE on YouTube and X this Thursday night at 7pm ET with our guest @Dennis_Porter_ (X)
Dennis Porter is the CEO and Co-Founder of Satoshi Action Fund, a non-profit focused on going on the
offense for Bitcoin miners by educating policymakers and regulators on the benefits of Bitcoin mining.
Dennis has a background in political strategy, campaign management, and grassroots organization.
Join us and #GetOnTheMission
Raise your hand if your retirement strategy is 100% Bitcoin
Check out the latest from Bitcoin Veteran nostr:npub17tjyceelxt0m6j0xgwvth9htxaer5dmskxatnhtpeqfhuu6af8wqk9655z at Forbes
🧠
BTC Daily Intelligence Bulletin (DIB)
Block: 834,351
DTG/ICOD: 0800EST 12Mar24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: Haiti PM Agrees to Step Down / IDF Strikes Deep Into Lebanon / Ukraine Hits Targets Throuhout Russia / US Defense Spending to Drop 1% in Budget Battle / Biden Proposes 30% Tax on BTC Miners / BTC Miner Revenue at ATH
Market Data: Price: 1 BTC= $72,143, 33.18 oz Gold, .17 Median US House
24hr Hi: $72,850/ Lo: $71,339
Vol: $52B (Up 3%)
Mkt Cap: $1.41T (Even)
HashRate: 569 EH/s
Avg Fees: 11,105 sats/tx (Up 68%)
Nodes: 18,588
---Reports---
-International Events-
1. Haiti's prime minister says he'll resign once a transitional council is created: The de-facto prime minister of Haiti has agreed to resign once a transitional presidential council is installed and interim prime minister is named. "The government will resign immediately after the installation of this Council and will remain in office to handle current affairs until the appointment of a Prime Minister and a new government," Ariel Henry said in a video statement. The PM has been in Puerto Rico, unable to return due to lawlessness in the country. (NPR)
2. IDF strikes Hezbollah air unit sites deep in Lebanon; 100 rockets fired at north: The Israel Defense Forces carried out strikes deep in Lebanon late Monday, saying fighter jets hit a pair of sites belonging to the Hezbollah terror group.Hours after the strikes, on Tuesday morning, a barrage of some 70 rockets was launched from Lebanon at northern Israel, according to the IDF. It marked one of the largest barrages fired by the terror group amid the ongoing war. (TimesOfIsrael)
3. Two Fuel Depots Ablaze Following Drone Attacks Across 9 Russian Regions: Two Russian fuel depots were targeted in separate drone attacks early morning Tuesday, March 12, regional governors said, as Ukraine launched a barrage of strikes across multiple regions of Russia. According to the Russian Defense Ministry, 25 Ukrainian drones were destroyed or intercepted across nine regions, including Moscow, Leningrad, Belgorod, Kursk, Bryansk, Tula, and Oryol. (KyivPost)
-US Events-
1. Boeing whistleblower John Barnett found dead in South Carolina: A Boeing whistleblower was found dead in his truck in the parking lot of his South Carolina hotel after he failed to show up for the second part of his testimony for a bombshell lawsuit against the company, a report said Monday. John Barnett, 62, had raised safety concerns at the airline’s factories and provided his first testimony just days before he was found dead from an apparent “self-inflicted” gunshot wound, the Charleston County coroner told the BBC. (MarketWatch)
2. America’s Defense spending dragged into budget chaos: The Defense Department (DOD) still doesn’t have a full budget for 2024, faces a looming 1 percent across-the-board cut unless Congress can break its logjam, and is still reeling from years of high inflation. (TheHill) (AC- While China has increased defense spending this year over 7.2% (for several years now over 7%), the US is not meeting recruiting goals and facing at least a 1% DECREASE in spending. This relative weakening of the US professional military is a dangerous game which decreases the "Cost of Attack" for foreign powers.)
-Regulatory and Legal-
1. Biden Government Proposes 30% Electricity Tax for Miners, Citing Environmental Concerns: Crypto mining firms, under this new tax scheme, would need to report both the quantity and cost of electricity they consume. This includes companies that rely on off-grid power production. The tax is set to be introduced gradually over three years, starting at 10% and reaching 30% by the third year, effective from January 1, 2025. (BeInCrypto)
2. Donald Trump Calls BTC 'an Additional Form of Currency' — Says 'I Sometimes Will Let People Pay Through Bitcoin' (BitcoinCom)
-Institutional Concerns-
1. El Salvador Is Sitting on $84M Profit From Its Bitcoin Holdings: Bitcoin’s 250% rise over the past year has catapulted the Central American nation’s bitcoin treasury to over $206 million as of Tuesday, a 69% gain on initial capital so far. It holds 2,681 BTC, data shows, acquired over 12 separate purchases at an average cost of $42,600. (CoinDesk)
-Central Bank Digital Currencies (CBDC)-
1. Israel announces plans for interest-bearing shekel CBDC: the Bank of Israel outlined that its shekel CBDC will be implemented in a two-tier model, with instant, 24/7 payments, multipayment support, offline use, limitations on balances and an option for the CBDC to become interest-bearing. (CoinTelegraph)
-Economic Indicators-
1. US Small Business Optimism Falls to 9-Month Low: The NFIB Small Business Optimism Index in the US edged down to 89.4 in February 2024, the lowest in nine months, from 89.9 in January, and below forecasts of 90.7. Twenty-three percent of small business owners reported that inflation was their single most important business problem. (TradingEconomics)
2. US CPI Data is due today and expected to remain stead at 3.1%.
-Technological Updates-
NSTR
-Security Incidents and Concerns-
1. February Hack on United Healthcare: The worst of its kind, recovery time uncertain: Authorities are trying to figure out how to recoup from a cyber-attack on a company in late February. Officials said, by this week, things would be back to normal, but they’re not. Far from it. Hackers have crippled Change Healthcare, a branch of the UnitedHealthcare group. As a result, many people are scrambling, trying to figure out how to get their medicine. The American Hospital Association calls what's happening, "the most significant and consequential incident of its kind against the U.S. health care system in history." (CBS12)
-Bitcoin Community-
1. Bitcoin miner revenue hits all-time high amid price surge: According to The Block data, the seven-day moving average of miner earnings hit $68.28 million on March 9, surpassing the previous all-time high of $67.15 million in May 2021. The revenue rose further to $68.35 million on Sunday. (TheBlock) (AC-BTC miner stocks were down yesterday from 3 to 9% due to the release of the proposed 30% tax on miner electricity.)
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 81/100 (Down 1 pt)
Analyst Comments (AC): Bitcoin Miner stocks were down yesterday due to a proposed 30% US tax on miners while another report showed miner revenues at an all-time-high due to the increase in BTC price. The proposed tax is a de-facto ban on US mining activity and would have serious consequences on the industry. In an industry that already has small margins and its competitve advantage lies in cheap electricity, a tax of this sort is an existential threat to US mining. This is certainly a shot across the bow from the current administration to the Bitcoin community.
Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report
Good morning ☕️
🚨ATTENTION🚨:
We have a Bitcoin Veteran who runs a Citadel in Walker County, GA with a PTSD mission
He just received notice that a rock quarry is about to be approved less than a mile from their location. This means BIG EXPLOSIONS… while guys are trying to heal from… BIG EXPLOSIONS
CALL TO ACTION: Looking for an attorney who can file an injunction as this property is not zoned for mining and they failed to notify the public prior
Please DM with any information
Never gonna happen
The choice is yours
It’s really that simple
Bitcoin won’t change the inherent need for purpose and working to fulfill that purpose. But it will make the fruits of that labor much more plentiful.
BTC Daily Intelligence Bulletin (DIB)
Block: 834,198
DTG/ICOD: 0800EST 11Mar24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
__________________________
BLUF: Ramadan Starts / US Evacuates Embassy in Haiti / BlackRock Surpasses MicroStrategy Holdings / BTC Surpasses Silver / MicroSoft Hack Still Underway
Market Data: Price: 1 BTC= $71,629, 33.19 oz Gold, .17 Median US House
24hr Hi: $72,235/ Lo: $67,194
Vol: $51B (Up 76%)
Mkt Cap: $1.41T (Up 3%)
HashRate: 652 EH/s
Avg Fees: 7,233 sats/tx (Down 64%)
Nodes: 18,542
---Reports---
-International Events-
1. Holy month of Ramadan starts for Muslims in Middle East in the midst of war: Muslims gathered at the Al-Aqsa mosque in Jerusalem on Sunday to celebrate the start of Ramadan. While the mosque has been flashpoint for the escalation of Israeli-Palestinian violence, Tel Aviv assured they would not restrict worshiping in the site. (EuroNews)
2. U.S. military airlifts embassy staff from Port-au-Prince amid Haiti's escalating gang violence: The United States military conducted an overnight operation Saturday to evacuate American personnel by airlift from the U.S. Embassy in Haiti as violence escalates in the capital, Port-au-Prince. (CBS)
3. China’s congress ends with a show of unity behind Xi’s vision for national greatness: The weeklong event, replete with meetings carefully scripted to allow no surprises, has highlighted how China’s politics have become ever more calibrated to elevate Xi. (AP)
-US Events-
1. DOJ opens criminal investigation into the Alaska Airlines 737 plane blowout: The Department of Justice has launched a criminal investigation into the Boeing jetliner blowout that left a gaping hole on an Alaska Airlines plane this January, the Wall Street Journal reported on Saturday. (AP)
2. 2 National Guard soldiers, 1 Border Patrol agent killed in Texas helicopter crash are identified: A National Guard soldier from New York who was seriously injured in the crash of a helicopter flying over the U.S.-Mexico border remained hospitalized Sunday while authorities released the names of the three killed Friday in the crash in a field in Texas near Rio Grande City were: Chief Warrant Officer 2 Casey Frankoski, 28, and Chief Warrant Officer 2 John Grassia, 30, both with the New York National Guard; and Border Patrol Agent Chris Luna, 49. The cause of the crash remains under investigation. (AP)
-Regulatory and Legal-
NSTR
-Institutional Concerns-
1. BlackRock’s Bitcoin Holding Surpasses MicroStrategy Amid $2 Bln Net Inflows This Week: BlackRock’s iShares Bitcoin Trust (IBIT) surpassed MicroStrategy’s Bitcoin (BTC) holdings with a net inflow $2.07 billion in the week. Moreover, the milestone comes amidst a robust total weekly net inflow of Spot Bitcoin ETFs, which stands at $2.23 billion. (CoinGape)
2. Bitcoin surpasses silver to become the eighth largest asset by market cap: Bitcoin now has a market cap of $1.4 trillion, while silver only has a market cap of $1.3 trillion, according to CompaniesMarketCap data. Bitcoin remains behind Alphabet, with a market cap of $1.6 trillion. The asset with the largest market cap globally is still gold, at a size of $14.66T. (TheBlock)
3. Investment Company ARK Invest Sells Coinbase Share as Bitcoin Price Rises: Cathie Wood's ARK Invest announced that it sold approximately $150 million worth of shares of cryptocurrency exchange Coinbase (COIN) during the week ending March 8, 2024. (CoinMarketCap)
-Central Bank Digital Currencies (CBDC)-
1. Central Bank of the Philippines to Complete Wholesale CBDC Pilot This Year, Hints at Securities Focused Use Case: The Central Bank of the Philippines revealed that it aims to conclude the ongoing wholesale CBDC pilot, Project Agila, later this year. The pilot, which currently includes the participation of six local financial institutions, might be the gate for democratizing access to securities according to Deputy Governor for Payments and Currency Management Sector (Bitcoincom)
-Economic Indicators-
1. US 10-Year Treasury Yield at Nearly 1-Month Low: The yield on the US 10-year Treasury note was at 4.07% to kick off the week, the lowest level since early February
2. Friday's US jobs figures beat forecasts but downgrades complicate outlook: Data shows 275,000 new jobs added but numbers for January and December are revised sharply downwards. The revised totals for January and December restated 167,000 fewer posts were created than previously thought. Unemployment rose to 3.9% (FT) (AC-Employment data is difficult to assess on a monthly basis unless large moves are indicated. Longer term trends are most meaningful. The revision downwards of Dec and Jan do show an optimistic bias in intial reporting, however.
-Technological Updates-
NSTR
-Security Incidents and Concerns-
1. Microsoft Confirms It Has Yet to Contain Russian State Hack: Russian government hackers have successfully breached Microsoft's systems and the tech giant confirms it has yet to contain the data breach nor evict the state-sponsored hackers. Microsoft adds that it will continue to provide more information amidst the "ongoing attack." The Microsoft Security Team discovered the nation-state attack on January 12, 2024, and announced it on January 19. (TechTimes)
-Bitcoin Community-
NSTR
-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 82/100 (Up 1 pt)
Analyst Comments (AC): NSTR
Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r
____________________
Analyst: BV2A
END REPORT
NNNN
*NSTR-Nothing Significant To Report
Good morning ☕️
There is no second best
Often imitated, never duplicated
