Strike, a global bitcoin payments service, has expanded to 65 more countries across six continents, introducing USDT (U.S. dollar equivalent) support and a revamped app. This development has significant implications for global adoption, particularly in countries with weak currencies or high inflation rates.
The expansion brings Strike's effective reach to 3 billion people, with the ultimate goal of serving 7-8 billion worldwide. The service promotes financial inclusion, economic stability, and global connectivity by:
1. Providing access to a stable financial system for underserved communities.
2. Mitigating inflation effects with a U.S. dollar equivalent stablecoin.
3. Facilitating cross-border transactions and international trade.
Overall, Strike's expansion is an important development in the world of finance, with potential to promote economic stability and global connectivity.
Strike Expands Global Reach, Introduces USDT Support And Unveils Enhanced App At Bitcoin 2023 Conference
Discrete Log Contracts have existed for some time, but development can be challenging due to the numerous potential pitfalls. The DLC DevKit aims to simplify this process by providing a streamlined approach to building DLC projects. Leveraging rust-dlc under the hood, it cleverly abstracts the Oracle, Storage, and Transport components through traits, making development more manageable. This tool is definitely worth exploring if you're interested in creating a DLC application.
Introduction to DlcDevKit
Creating DLC applications is hard, but it does not have to be. DlcDevKit allows application developers to focus on the user experience. Not the complexities of Bitcoin and DLCs.
GM #plebchain, stay humble, stack bits/sats, and think for yourself.
If one entity owns the majority of Bitcoins, it doesn't necessarily mean others can't purchase Bitcoins. The entity owning the majority of Bitcoins can still choose to sell some of their holdings, allowing others to buy them. The concept of supply and demand would still apply, and as long as there are willing buyers and sellers, the market can continue to function.
The idea that owning 100% of a sound money tool like Bitcoin would be counterproductive is correct. If one entity were to own all the Bitcoins, there would be no one left to trade with, making the asset worthless to them. This is why it's unlikely that a single entity would be able to accumulate 100% of the Bitcoins, as it would go against their own incentives.
The fact that there are millions of HODLers, including many of us, who are willing to hold and provide demand for Bitcoins, makes it highly unlikely that a single entity could own all the Bitcoins. The existence of a large number of HODLers creates a decentralized and resilient market, where the risk of a single entity controlling all the Bitcoins is minimal.
It's also true that people who worry about this scenario often don't have custody of any Bitcoins themselves. By holding Bitcoins, individuals can contribute to the decentralization and security of the network, and alleviate concerns about a single entity controlling the majority of the assets.
Bitcoin has essentially become the world's reserve asset, offering unparalleled accessibility and liquidity.
It allows anyone, anywhere, to buy or sell any amount of Bitcoin at any time, using any device, and at a known market price, all without the need for intermediaries, making it uniquely versatile and widely available.
What your views are when it comes to supply shortages of Bitcoin?
Is this phenomenon possible?
Under what conditions?
- Bitcoin is divisible by 8 decimal points. Let's wrap our heads around this enormous number.
- Right now one USD$ is worth +-1,000 sats
- If the value of $1.00 goes down to 1 sat then lots of things can be valued and value transfer between sovereign individuals is super possible.
If 1 sat is equal to $1 or whatever fiat currency becomes the reserve currency of the world. Bitcoin miners will be able to sustain and have sound business plan around fees when the Bitcoin block subsidy ends.
Gold is only a good store of value over time but poor at being salable over space, Bitcoin is both store of value over time and salable over space.
Publicly listed Indian company JetkingLtd surges 20% after announcing its corporate #Bitcoin strategy 🚀
GM #plebchain, stay humble, stack bits/sats, and think for yourself.
Traditional finance gets worked up over companies issuing debt to invest in Bitcoin, as the value of Bitcoin surges faster than the cost of the debt. However, this isn't a new phenomenon. Legacy finance has been engaging in a similar strategy with real estate and stocks for decades. By artificially keeping interest rates on real estate and corporate debt below the rate of inflation, these financial institutions can absorb housing markets and use the resulting wealth to buy back stocks, artificially pumping up their value and allowing the debt to gradually devalue over time.
This strategy is only accessible to financially privileged elites who can take advantage of low interest rates and leverage to amass wealth. The same mechanisms that allow these individuals to amass wealth through real estate and stocks are now being employed to invest in Bitcoin, but with a perceived higher risk. It's a case of the same old game, but with a new asset class, and one that only the well-heeled are able to participate in.
But what's more, Bitcoin is the only digital asset that has broken through the barriers of exclusivity that have long surrounded traditional finance. Unlike other digital assets like stocks or private equity, Bitcoin is not just a playground for the 1%, but is now accessible to anyone with an internet connection. This democratization of access has created a level playing field, where even the most marginalized individuals can participate in the global economy, albeit on their own terms.
“Ossification is complacency. Yes, we all agree that Bitcoin is great. But _I do not agree_ that Bitcoin has reached its full potential. I think complacency is one of the greatest threats to Bitcoin — we must not rest upon our laurels.” — Lopp
The debate between ossification and continuous development of the Bitcoin protocol is a complex one, with valid arguments on both sides. On one hand, ossification — or making the protocol more stable and unchanging — can provide a sense of security and predictability, which is crucial for a global financial system. It can also prevent unintended consequences or exploits that could arise from frequent changes.
On the other hand, continuous development and planning for future soft forks can ensure the protocol stays relevant, adapts to emerging technologies, and addresses any issues that may arise. This approach can also help to improve the user experience, scalability, and overall performance of the network.
However, whether to change Bitcoin or not might be a false dichotomy. It's possible that the answer lies in a middle ground, where certain aspects of the protocol are allowed to evolve while others remain stable. Perhaps the focus should be on creating a framework that allows for gradual, carefully considered changes, rather than a binary choice between complete ossification and constant development.
Ultimately, the path forward will depend on the priorities and values of the Bitcoin community. Is the goal to create a digital gold standard, prioritizing security and stability above all else, or is it to create a more dynamic, adaptable system that can evolve to meet the needs of its users? By examining these underlying values and priorities, we may be able to find a more nuanced approach that balances the need for stability with the need for innovation and progress.
Article “On Ossification” by Jameson Lopp
GM #plebchain, stay humble, stack bits/sats, and think for yourself.
It's astonishing how societal perceptions of wealth are often misleading. Having a modest $300 in savings and a luxury car worth $100,000 on lease can create the illusion of prosperity, while actually owning a valuable asset like 1 Bitcoin, worth $100,000, and driving a practical $5,000 Corolla can make you appear impoverished.
This highlights how societal norms can deceive us into prioritizing appearances over true financial freedom. It's time to challenge these conventional norms and forge your own path to prosperity, rather than being held back by the expectations of others.
Bitcoin and crypto executives speak out on debanking
Having a bitcoin treasury can be beneficial for businesses, particularly in cases of debanking, as it provides a financial safety net and flexibility during times of economic uncertainty or systemic instability. By controlling your own keys, you maintain the ability to conduct transactions on the bitcoin network without interference or restriction from external parties.
Crypto execs open up about debanking experiences following Trump's US election win
Satoshi's work in Curaçao
Llama 3.3 70B outperforms 3.1 405B, now top open model
Solana Web3.js library backdoored to steal secret, private keys
In addition to Bitcoin's remarkable price milestone of $100,000 and its growing recognition as digital gold and a potential medium of exchange, two more significant revolutions are on the horizon. These include:
* A revolution in Financial Services, which promises to transform the way we interact with money and financial institutions.
* A revolution in digital assets property rights, which will redefine the way we think about ownership and control in the digital age.
These emerging trends have the potential to be just as impactful as Bitcoin's rise to prominence, and could fundamentally change the way we think about money, finance, and property in the years to come.
Here is a good site to compare secure apps:
Digital yuan faces setbacks as Xi’s vision for China’s CBDC falters
China's digital yuan project, a central bank digital currency (CBDC) championed by President Xi Jinping, appears to be facing significant setbacks.
Despite efforts by the People's Bank of China to promote its adoption, a recent survey found that 90% of respondents had never used or seen the digital yuan. The project's main promoter, Yao Qian, has been dismissed and arrested on corruption charges, sparking speculation about the project's future.
Experts suggest that the digital yuan's failure is due to concerns about its potential to deprive citizens of their right to control their private property and strengthen the government's surveillance over society.
Additionally, the project's goal of internationalizing the renminbi and challenging the US dollar's dominance has been hindered by technical issues and lack of trust in the currency. As a result, the digital yuan's adoption has stalled, and the project is now being seen as one of Xi Jinping's unfinished undertakings.
1 USD crashes below 1,000 sats