Covering the Crazy

Here we go, come with me
There’s a world out there that we should see
Take my hand, close your eyes
With you right here, I’m a rocketeer
Let’s fly (fly, fly, fly, fly)
Up, up here we go, go
Up, up here we go, go
Let’s fly (fly, fly, fly, fly)
Up, up here we go, go
Where we stop nobody knows, knows

–”Rocketeer” by Far East Movement

Where are we flying, though?

At Bitcoin Magazine, we pride ourselves on serving the Bitcoin ecosystem as a historical ledger, a resource for keeping up with technical developments and a source of inspiration for the future. And there’s no more exciting (albeit terrifying to some degree) time to be alive than right now.

We’re collectively watching the world open its eyes to the cracks in the current financial systems we have in place.

“Why pay taxes when we can just print the money?”

“Why do we have people starving if we can just print the money?”

“Where’s my money?”

“What even is money?”

Starting this week, we’re going to be tweaking our publishing strategy to prioritize two things: make sense of what’s happening with the current economic situation and prepare for the droves of pre-coiners looking for institutions worthy of trust.

To help make sense of things, we’re actively seeking out contributions from outside of the Bitcoin regulars so our readers can hear from experts in tangential fields. Our assumption is that the best way to indoctrinate new people is to invite them into the fold through the voices they already trust.

We’re also excited about what the world looks like after hyperbitcoinization. What if we do experience hyperinflation in the United States? What type of world would we be living in? Do you believe that civilization is prepared or that we’re going to end up living in isolation in our citadels? We’re open to any speculative fiction pieces and hopefully will have some being published soon.

For the pre-coiners, we’re expanding our guides and evergreen content library more actively. We’ve done a poor job at creating a concrete learning path that connects all of the dots that live within Bitcoin Magazine. We have thousands of articles written by experts that will prove to be insanely valuable in making the bull case for Bitcoin.

However, we also want to link to your content and build up our resources together. There are thousands of ways to tell Bitcoin’s story and we need to put our best foot forward with content that converts. If you have a resource you’d like us to incorporate on our website, emails or podcasts, drop us a note at editor at bitcoinmagazine.com.


To kick things off, this week’s issue leads with “Zero Interest, Limitless Repo and QE4: The Federal Reserve’s Market Operations Explained” by Colin Harper. In here, Colin notes that the “endgame is the endgame” and provides his opinion on how the Fed is creating compounding problems for the United States.

The impact to mining is a topic we’ll be increasing coverage of, especially as we get closer to the Halving. Jessie Wilms put together some firsthand notes in “Coronavirus, The Halving And A Price Drop: Bitcoin Mining Marches On” from Christopher Bendiksen, Danny Masters, Samson Mow and Ryan Porter with their reactions to how miners will be impacted by the economic downturn.

In his first contribution for Bitcoin Magazine, Muneeb Ali gives credit to Bitcoin as “The King of Blockchains” and explains how it can be the foundation for Web 3.0. In the closing of his article, Ali notes that “the solid foundation we need to realize our vision for Web 3.0 is already here; a future Web 3.0 can anchor on Bitcoin.”

To add to last week’s issue, we published two additional pieces: “EARN IT: The US Anti-Encryption Bill That Threatens Private Speech Online” by David Hollerith and “A Treatise On Bitcoin And Privacy Part 2: Don’t Be Misled By Red Herrings” by Giacomo Zucco.

Hollerith’s piece is one of the few deep dives out there on the The EARN IT Act, which has been highlighted because of its potential to strip privacy from United States citizens. Currently, EARN IT has been referred to the Senate Judiciary Committee and it is up to all of us to voice our opinions to our congressmen.

The second piece we added to last week’s issue was Zucco’s second in his series on Bitcoin and privacy. He identifies three major red herrings that we’ve all heard before as justifications to strip our privacy rights away and directly refutes them with fantastic, easy to understand arguments. We can’t thank Zucco enough for this limited series of content. If you haven’t read the first part of this series, I’ll save you a click.

MyCryptoMixer.com: How to mix your coins using the Best Bitcoin Mixer (Tumbler) in 2020

Promoted: By properly masking your transactions with a bitcoin mixer, you can remove the traceability of your pseudonymous transactions.

Reddit Roundup - July 2020

Bitcoin Reddit Roundup – July 2020

Every month, Bitcoin Magazine puts together a short recap of this months events as told through the best links from Bitcoin Reddit.

A consortium including CoinShares and Blockchain has launched a gold-backed token on a Bitcoin sidechain.

Goldman Sachs Warns Investors About Failing USD, But Points Them To The Wrong Safe Haven

Goldman Sachs told investors to hedge against the USD with gold, but bitcoin is a better safe haven asset.

The legacy U.K. bitcoin exchange Coinfloor is working to onboard Baby Boomers to BTC, an increasingly attractive investing choice for the generation.

Coinfloor Is Riding A Bullish Bitcoin Wave With Baby Boomers

The legacy U.K. bitcoin exchange Coinfloor is working to onboard Baby Boomers to BTC, an increasingly attractive investing choice for the generation.

Foundation Devices has hopes of providing sovereignty and privacy protection through a hardware technology stack, beginning with its new bitcoin wallet.

Foundation Devices Enters The Sovereign Hardware Game With Passport Bitcoin Wallet

Foundation Devices has hopes of providing sovereignty and privacy protection through a hardware technology stack, beginning with its new bitcoin wallet.

Expanding The Network of Bitcoin ATM

With Bitcoin ATMs, CoinFlip Is Banking The Unbanked

Promoted: CoinFlip maintains some of the lowest barriers to buying bitcoin for those who could use it most.

Though the CryptoForHealth Twitter hack spread the word about Bitcoin, it didn’t cast BTC in a flattering light.

Was The CryptoForHealth Twitter Hack Good For Bitcoin?

Though the CryptoForHealth Twitter hack spread the word about Bitcoin, it didn’t cast BTC in a flattering light.

BTCS Crypto Portfolio Expands Over 280% in Q2 2020 Amid COVID-19 Pandemic

Promoted: While many institutions struggled to recover from the market downturn in March, publicly-traded, blockchain-focused firm BTCS Inc. increased its portfolio.

The Office of the Comptroller of the Currency has clarified that national banks can hold cryptocurrency keys, potentially ushering in a wave of new services from these financial institutions.

Treasury Bureau Declares National Banks Can Custody Crypto

The Office of the Comptroller of the Currency has clarified that national banks can hold cryptocurrency keys, potentially ushering in a wave of new services from these financial institutions.

As Taproot, the latest consensus protocol change, approaches activation, Bitcoin developers are asking how exactly the network should be upgraded.

BIP 8, BIP 9 or Modern Soft Fork Activation: How Bitcoin Could Upgrade Next

As Taproot, the latest consensus protocol change, approaches activation, Bitcoin developers are asking how exactly the network should be upgraded.

S

Zap Announces $3.5 Million Seed Round

After rolling out its Strike app to public beta and partnering with Visa on a debit card, Lightning wallet provider Zap has announced a $3.5 million seed round.

Darknet Markets Can’t Live With or Without Bitcoin

As Analytics And Privacy Efforts Clash, Which Path Will Bitcoin Take?

Two pieces of Bitcoin news this week seemed to point toward conflicting trends in the space: blockchain analysis vs. new privacy methods.

Check out our video walkthrough on Unchained Capital’s Caravan tool for utilizing multisig bitcoin wallet security.

Video: How to Create a Multisig Wallet With Caravan By Unchained Capital

Check out our video walkthrough on Unchained Capital’s Caravan tool, enabling multisig bitcoin wallet security and better protecting your HODLings.

The team at Luxor has introduced Hashrate Index, a website featuring data that adds some transparency to the bitcoin mining industry.

Introducing Hashrate Index, An Online Tool For Bitcoin Mining Transparency

The team at Luxor has introduced Hashrate Index, a website featuring data that adds some transparency to the bitcoin mining industry.

Open Letter to Yannis Varoufakis

Op-Ed: An Open Letter to Yanis Varoufakis About Bitcoin

As a fan of former Greek finance minister Yanis Varoufakis’ work, I wanted to bring him up to speed on some of the changes that have happened in Bitcoin.

Casa, Human Rights Foundation Partner For Bitcoin Education

How the Human Rights Foundation and Casa Hope to Improve Bitcoin Sovereignty Around the World

Casa announced that it will be working with the Human Rights Foundation to support the use of Bitcoin by freedom activists around the world.

Bitcoin held in self-custody runs on an entirely separate financial system than the traditional one, making it a systemic hedge.

Bitcoin: More Than an Inflation Hedge

Bitcoin held in self-custody runs on an entirely separate financial system than the traditional one, making it a systemic hedge.

Casa to MyNode Conversion

Video: How To Install MyNode on Your Old Casa Node

Casa is no longer supporting its hardware with ongoing updates.
Watch this video from Nik Hoffman in getting MyNode running on a Casa node.

Strike Launches Public Beta

Zap’s Strike Moves to Public Beta

Strike is an application that allows you to transact with Lightning payments with just a debit card or bank account. But, here’s the secret sauce: instead of having to buy bitcoin to load up your Lightning channels, users on Strike never touch BTC.

Bitcoin 2021 Announcement

Bitcoin 2020 Is Moving to 2021 in Los Angeles!

The Bitcoin 2020 conference is officially moving to April 30–May 1 in sunny Los Angeles, California, with Nick Szabo and Tony Hawk headlining!

Reddit Roundup - June 2020

Reddit Roundup – June 2020

This contains 50 links to most of the best quality content that was uploaded to Reddit for this month. Most links come from the popular r/bitcoin, but we also retrieved posts from other one as well such as r/BitcoinMining.

Lastbit Logo

Lastbit’s Wallet Hopes to Make Spending Bitcoin Simple One Day

Lastbit’s wallet hopes to bring credit and debit cards to Bitcoin in the EU.

Kraken Announces Largest-Ever Grant to BTCPay Server

The cryptocurrency exchange Kraken has granted open-source payment processor BTCPay Server its largest donation ever: $15,000 of BTC.

Wikileaks Founder Julian Assange Extradition

Julian Assange’s U.S. Extradition and Bitcoin’s Battle for Freedom of the Internet

The extradition of WikiLeaks founder Julian Assange can be seen as a threat to free speech, and cypherpunk ideals, everywhere.