Bitcoin Survived SVB And Silvergate Bank Fails; It Will Survive First Republic’s, Too
First Republic Bank is no more. It’s not wrapped up in J.P. Morgan. Bitcoin’sBTC -1.2% price fell around 4.6%, probably due to Monday’s bad (but not surprising) news. The good news is that bitcoin has clearly survived the Silicon Valley Bank, Silvergate Bank and Signature Bank blowups. It will survive this one, too.
Why Should You Care About Bitcoin? Part 1 Explained for Beginners
In Part 1 of this two-part series, we cover how the fiat system works and examine its flaws for a beginner level audience. We break this into three sections:
1. How does fiat money work?
2. What gives fiat money value?
3. What are the effects of fiat money on society?
As part of this discussion, we examine how fiat money is backed by oil, war, and inflation. We take a look into each of these areas to understand the pitfalls of fiat money.
Money in your Bank Account is not yours
When depositing money in a bank, we usually forget that money you deposit in the bank isn’t ours anymore. We are essentially giving the bank temporary custody of our money in exchange for a promise that they will give us back the same amount (and sometimes more).
Bitcoin Accepted Here
₿e your own ₿ank
The Environmental Case For Bitcoin
In recent months, Bitcoin has faced a barrage of criticism for its perceived negative impact on the environment. Greenpeace recently added fuel to the fire by commissioning this Skull of Satoshi art piece.
₿e your own ₿ank
Ellen Brown: How the War on Crypto Triggered a Banking Crisis
According to an article in American Banker titled “SEC’s Gensler Directly Links Crypto and Bank Failures,” SEC Chair Gary Gensler has asked for more financial resources to police the crypto market. Gensler testified at an April 18 House Financial Services Committee hearing.
https://scheerpost.com/2023/04/28/ellen-brown-how-the-war-on-crypto-triggered-a-banking-crisis/
Bitcoin’s Early Days
Bitcoin, the world's first decentralized digital currency, was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Its creation was a response to the 2008 financial crisis, which highlighted the flaws in the traditional banking system and the need for a decentralized alternative.
https://medium.com/@sidparker/bitcoins-early-days-531d97458ad2
Crypto wallets are targeted by a new “stealer” on Mac
New “stealer” malware was spotted this spring. It targets computers running macOS and seeks to steal a lot of information, including cryptocurrency wallets.
Its name leaves little doubt as to its targets: computers running macOS. This is what the AMOS malware, an acronym for Atomic macOS Stealer, is aiming for. No need to be perfectly bilingual to guess the purpose of this program: it is to steal information on the victim’s machine.
https://techaint.com/2023/04/29/crypto-wallets-are-targeted-by-a-new-stealer-on-mac/
DHI confirms that it is mining Digital Assets
In mid-April the Forbes Magazine published an article about Druk Holding and Investments (DHI) borrowing millions of dollars in digital assets from two bankrupt crypto currency lenders BlockFi and Celsius. The bankruptcy declarations of these two firms had lead to the public declaration of the transaction records which the magazine accessed, and then did its article.
https://thebhutanese.bt/dhi-confirms-that-it-is-mining-digital-assets/
If U.S. defaults on debt Bitcoin could rise nearly 70%, says Standard Chartered analyst
Bitcoin bulls have had a good year so far. If the U.S. defaults on its debt, it could get even better, at least in terms of their Bitcoin investment.
https://fortune.com/2023/04/29/bitcoin-rise-if-us-defaults-on-debt-standard-chartered-analyst/
Why deflation is the key to an abundance with Jeff Booth
Jeff Booth is the Author of The Price of Tomorrow and CEO/Chairman of Ego Death Capital. In this interview, we discuss the effects of prices falling to the marginal cost of production, Bitcoin and its role in a deflationary economy, how inflation and debt distribute wealth unfairly, and the deflationary influence of AI and its impact on the future.
https://open.spotify.com/episode/7wNkFRDnBDmov8ZO1cHZDH?si=WTcD8I1gSGGxs0gEmQdbqg
First Republic Bank in new free fall as concerns mount
New York | First Republic Bank’s stock plunged on Tuesday (Wednesday AEST) after it said depositors withdrew more than $US100 billion ($151 billion) during last month’s crisis, with fears swirling that it could be the third bank to fail after the collapse of Silicon Valley Bank and Signature Bank.
Yuan Overtakes Dollar as China’s Most Used Cross-Border Currency
China passed another milestone in its bid to reduce reliance on the dollar, as yuan usage in its cross-border transactions jumped ahead of the greenback’s for the first time in March.
Zimbabwe Will Issue Gold-Backed Digital Tokens From Next Month
Zimbabwe’s central bank plans to sell a gold-backed digital currency to the public from May 8 in another attempt to stabilize its tumbling currency and offer an alternative to the US dollar.
US: Businessman to pay $ 3.4 billion for Bitcoin fraud
Because he collected Bitcoin with false promises and embezzled them, a South African businessman has to pay the money back and a fine.
https://techaint.com/2023/04/28/us-businessman-to-pay-3-4-billion-for-bitcoin-fraud/
The Rise and Rise of Bitcoin | Bitcoin History | Documentary
The Rise and Rise of Bitcoin - A computer programmer becomes fascinated with the digital currency Bitcoin, and through his involvement in the Bitcoin community, we learn about the impending global impact of this amazing new technology.
Bitcoin in Guatemala
Episode VII. Block height: 787000. An inefficient banking system. A huge unbanked population. Bitcoin mining with cooking oil. A grassroots movement. All about Bitcoin adoption in Guatemala.
Argentina to Ditch Dollar, Pay For Chinese Imports in Yuan
Buenos Aires is hoping the move will relieve pressure on the country’s dwindling dollar reserves but switch is still a coup for Beijing
https://www.asiafinancial.com/argentina-to-ditch-dollar-pay-for-chinese-imports-in-yuan