Bitcoiners,

Today, nations hold trillions of treasuries as reserve assets. Treasuries are important. They collateralize derivative markets, and the American government note is synonymous with "risk-free return."

What happens when investors dump "Uncle Sam Bankman-Fried"?

It turns out they already are. Central banks have quietly been selling treasuries for years, all while stockpiling harder assets like gold.

Another thing: By accounting standards, the Fed is now "broke" and no longer kicking money to the treasury. How are markets responding?

The treasury volatility index is off the charts. 

Central banks will likely respond by injecting trillions of dollars into the economy through QE-like mechanisms such as the new BTFP, leading to further inflation and currency devaluation.

Expect more mouse-click money and wealth destruction.

How do you protect yourself? While central planners try to avoid global market chaos with unbridled money printing, you can take refuge in the most practical asset without counterparty risk: Bitcoin.

With that, let's dive in to the news. 👇

NEWS

Greenpeace accidentally spends over $1M on bitcoin marketing

Greenpeace's art piece, the "Skull of Satoshi," meant to criticize bitcoin's environmental impact, backfired as bitcoiners loved it and adopted it as a mascot. The 11-foot-tall skull, made from recycled electronic waste and sporting the bitcoin logo, was created as part of Greenpeace's doomed campaign to change the network's consensus mechanism from proof of work to proof of stake.

Reading between the lines:

Greenpeace's "#ChangeTheCode" campaign is funded with millions from Ripple (an alt-coin network)'s founder Chris Larson, and so far, the disingenuous effort has been a major flop. The fact that this sculpture has been "memed" by the community makes the whole thing even sweeter.

Binance vs. American regulators

The Commodity Futures Trading Commission (CFTC) has sued Binance and its CEO, Changpeng Zhao, for allegedly offering unregistered derivatives to U.S. customers and violating multiple regulations. This lawsuit follows a challenging year for Binance, which has faced regulatory scrutiny and investigations by U.S. Senators and the Department of Justice.

What does this mean for bitcoiners? 

Binance's extensive global footprint means that any penalties or fines imposed by American regulators are unlikely to sound the death knell for the company. However, they may prove financially burdensome in the short term. Regardless, bitcoiners who steer clear of fractional reserve "crypto" exchanges shouldn't have anything to worry about.

BITCOIN ADOPTION CONTINUES

Global hash rate is exploding- as recent price increases are likely bringing more miners back online. 

MercadoLibre, the largest e-commerce platform in Latin America, is enabling bitcoin trading to Chilean users.

Sean Ono Lennon, son of the famous Beatles singer John Lennon, states, "Only #bitcoin can save us now…" in a popular social media post.

Texas miners are witnessing a boon as hashrate skyrockets.

Digital asset firms are gravitating towards Hong Kong, as the city welcomes the industry. Observers speculate that the Chinese government aims to create a backdoor into the sector after banning it on the mainland.

Bitcoiners in Germany emblazoned the bitcoin logo, with the message "study Bitcoin," on the European Central Bank building in Frankfurt.

HOW BITCOIN WORKS

Learn one key idea about bitcoin each week. This week: 

Bitcoin is empowering

Financial freedom might seem like a distant dream, but it's closer than you think. 

Traditional banking systems have left countless people marginalized, with limited or no access to financial services.

According to the World Bank, about 1.7 billion adults globally remain unbanked, with the majority living in developing countries. They struggle with limited or no access to traditional banking services. For them, bitcoin is a lifeline, a beacon of hope.

With bitcoin, people can transact directly, bypassing intermediaries. It empowers the unbanked to take control of their finances, participate in the global economy, and unleash their untapped potential.

But bitcoin's empowering nature goes beyond the unbanked.

In times of inflation and economic uncertainty, all people search for a safe haven to store their wealth.

A striking example of this was the 2008 financial crisis, which exposed the fragility of traditional financial systems. In 2008, bitcoin didn't exist. Today, it offers a sanctuary for capital without counterparty risk.

We in the U.S. might not feel the full weight of currency risk right now, but the world is interconnected, and financial crises don't respect borders. The challenges faced by those in developing countries could one day surface here.

The power to shape your financial destiny, no matter who you are or where you come from, is extraordinary. Bitcoin unites people across the globe, transcending boundaries and economic disparities. 

By offering control, autonomy, and hope, bitcoin redefines what it means to be financially empowered. It's more than just a digital currency – it's a peaceful revolution, fostering financial freedom and equality for all.

Ready to get started with bitcoin? Coinbits is the best option. It's fast, safe, and free to create your account.

COIN CHECK

Which of the following is NOT a characteristic of Bitcoin transactions? 

1. Irreversible

2. Pseudonymous

3. Fast and global

4. Fully anonymous

Check your answer at the end of the page.

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ANSWER

4. Fully anonymous

   Bitcoin transactions are not fully anonymous; they are pseudonymous, as wallet addresses can be traced, but not easily linked to real-world identities.

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