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Bitcoin Magazine’s Week in Review - August 3rd, 2019

Bitcoin Magazine’s Week in Review for week of August 3rd, 2019
Bitcoin News Week in Review

Bitcoin Magazine's Week in Review

Bitcoin Magazine’sWeek in Review brings you the most critical, interesting and popular news stories affecting Bitcoin this week.

Privacy and Security 

Messaging via Blockstream’s Satellite: Lightning’s Killer App?

Blockstream engineer Grubles has created a Twitter bot that will relay all text and image transmissions from the Blockstream Satellite to the @satnode Twitter account.

For amounts of as little as 10 satoshis, users can privately communicate via satellite. However, due to the low cost and ease of use, it is possible that spam will become an issue. Still, the intentions and potential are great, as the satellite can be used in cases of censorship or network shutdowns. 

Read the full article to learn how to pay with Lightning to send messages to the Blockstream Satellite! 


Senate Wrestles With Bitcoin vs. Crypto, Gauges Need for Regulation in Latest Hearing

On July 30, 2019, the U.S. Senate Committee on Banking, Housing and Urban Affairs hosted a hearing regarding cryptocurrency and blockchain regulation, the third time these topics have been discussed in Congress in the weeks since Facebook announced its Libra digital currency. This latest hearing included testimony about proper cryptocurrency regulations and the benefits and obstacles that blockchain technology presents. They also touched on what Bitcoin is in comparison to Libra and other digital currencies.

Further Reading: 

Libra in Congress: A Chance to Define What Bitcoin Is and What Libra Isn’t

In Senate Hearing, Facebook’s Iffy Reputation Looms Over Libra Plans

Politics and Law

Peter Todd Responds to Sexual Misconduct Allegations

In April 2019, former Bitcoin Core contributor Peter Todd filed a defamation suit against Isis Agora Lovecruft in response to tweets from Lovecruft accusing Todd of sexual misconduct. Lovecruft moved to strike the suit and garnered support from Zcash co-founder Bryce Wilcox (better known as Zooko). Todd’s lawyers claimed this week that Lovecruft’s accusations are false and asked the court to dismiss Lovecruft’s strike request.

Digital Assets 

Blockchain Launches Institutional-Grade Crypto Trading Platform

This week, Blockchain announced the launch of its new, institutional grade cryptocurrency trading platform called The PIT, which will serve to fill “the void for a reliable, fast, and liquid marketplace.” One of the key features of the new platform is Blockchain Connect, which allows users to link and transfer their cryptocurrency to and from their PIT trading accounts so that they will not have to worry about centralized exchanges. 

Adoption and Community 

Bitcoin Independence Day: How This Watershed Day Defines Community Consensus

August 1, 2017, marked the first major stress test on the Bitcoin community after it was scheduled to initiate the network’s first user-activated soft fork (UASF). The day has been dubbed Bitcoin Independence Day, as it was intended to demonstrate the power of the community consensus and to put an end to major network civil wars. Ultimately, it demonstrated who truly controls Bitcoin (hint: it’s the community).

Check out the rest of the article to find out how the activation of SegWit led to the day we now refer to as Bitcoin Independence Day.