Bitcoin advocate Samson Mow lists six proposals for Trumps Nashville speech
Mow aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.
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Mow aims to influence the political leader to consider Bitcoin a viable and strategic component of the national economy.
100% of the funds will go towards funding "projects and contributors working on freedom tech."
Today, Bitcoin mining pool ViaBTC has officially mined block 840,000, which not only ushers in the fourth Bitcoin halving, but also includes what has been deemed an epic sat by the Ordinals numbering system, which is the first satoshi (smallest unit of a bitcoin) of each halving epoch. Mempool Ordinals, numbering schemes for satoshis, have [...]
The post ViaBTC Just Mined the 4th Ever Bitcoin Epic Sat During The Halving appeared first on Crypto Breaking News.
It’s time to make bitcoin more approachable for newbies by naming the smallest units “bits” which are more familiar to people used to dollars and cents.
The controversial Taro protocol is ready for testing. The initial version of the code is available on GitHub, and it enables “developers to mint, send, and receive assets on the bitcoin blockchain.” Notice that the company isn’t talking about the Lightning Network yet. In a blog post announcing the Taro launch, Lightning Labs promised, “once the on-chain functionality is complete, we’ll work towards integrating the Taro protocol into lnd, bringing Taro assets to the Lightning Network.” Related Reading: An Interview with Ben Caselin on AAX- Lightning Network Integration and TARO Protocol Implementation This is the first step of many and it’s mainly aimed at developers. According to Lightning Labs, “this initial release is only designed for testnet usage as a way for developers to start using the code.” That means, no real value is flowing through Taro at the moment. But… what is Taro anyway? The blog post defines it as a “Taproot-powered protocol for issuing assets that can be transferred over bitcoin and in the future, the Lightning Network for instant, high volume, low fee transactions.” Taro Will Enable Stablecoins To Travel Through Lightning This is a multifaceted protocol that allows many things, but the feature everyone is excited about is the fusion of stablecoins with the Lightning Network. It’s controversial because you have to trust the issuer of stablecoins, which means they come with counterparty risk. Bitcoin doesn’t have that problem. In any case, in the subsection titled “The First Step Towards Bitcoinizing the Dollar,” Lightning Labs tries to convince us that stablecoins over Lightning are a good idea: “With Taro and the incredible developer community, we can build a world where users have USD-denominated balances and BTC-denominated balances (or other assets) in the same wallet, trivially sending value across the Lightning Network just as they do today. This leap forward will accelerate the path to bringing bitcoin to billions.” If that sounds too much like Galoy’s stablesats, it’s because both implementations are trying to solve the same problem. They use vastly different methods, though. And place the counterparty risk in different places. BTC price chart for 09/29/2022 on Fx | Source: BTC/USD on TradingView.com How Does Taro Work And What Else Does It Do? Don’t worry, these brand-new protocols are hard to master, or even understand. Luckily for us, Lightning Labs gave us a technical-but-easy-to-follow explanation as a refresher: “Taro assets are embedded within existing bitcoin outputs, or UTXOs. Think of these assets as “UTXOs within a UTXO.” A developer mints a new Taro asset by making an on-chain transaction that commits to special metadata in a Tapoot output. When minting a new asset, the Taro daemon will generate the relevant witness data, assign the asset to a private key held by the minter, and broadcast the newly created bitcoin UTXO to the bitcoin network. This new outpoint becomes the genesis point of the newly minted asset, acting as its unique identifier.” When Lightning Speed first tackled the Taro subject, we explained what a Taro asset can be: “What is a “Taro asset”? Whatever you want, your BTC can be “converted into different assets such as USD to EUR or USD to BTC.” Or, as Bitrefil’s Sergej Kotliar puts it, “Pay in currency of sender’s choice, receive in currency of recipient’s choice. This means that every wallet can now have native Strike-type “USD balance” functionality for example. With no need to trust the wallet, the only trust lies in the issuer of the token.” How To Get Started With The Novel Protocol As previously stated, this Alpha release is mainly for developers. If you’re one or know of one, here are the protocol’s coordinates: “To get started exploring Taro, download the daemon, check out the API documentation, and read the getting started guide. And for a more extensive explanation on how Taro works, take a deep dive into the Taro BIPs and our documentation.” Related Reading: Lightning Speed: Taproot And The Lightning Network, A Match Made In Heaven Have a blast, developers. And please report back to us with your findings. Featured Image by Jennyrang from Pixabay | Charts by TradingView
Earning sats for the first time is a magical experience and NewsBTC is here to guide you through it. The Lightning Network gave bitcoin real micro-transactions with extremely low fees. That opened up new avenues for the bitcoin network to expand through, avenues that the world is just beginning to explore. In the following text, we will present five projects that pay their users or allows them to get tips from the community. In sats, using the Lightning Network. Unlike most altcoins, bitcoin is truly scarce, has a hard total cap, and wasn’t pre-mined. The rewards that the following projects offer are low compared to million-dollar NFT collections and untenable 20% yields. However, you will earn real bitcoin by exploiting your hobbies. Cross your fingers, let’s hope this first guide has something for you. Related Reading: Lightning Speed: Open-Source Bitcoin Banks’ Fee Structures For Inbound Liquidity Before advancing, though, let’s quote Stacker News’ FAQ for a definition of sats AKA satoshis. “Sats are the smallest denomination of Bitcoin. Just like there are 100 pennies in 1 dollar, there are 100,000,000 sats in 1 Bitcoin.” 1.- Earn Sats Playing Games With Thndr Go to Thndr, download and play classic games, like Snake, or new and original ones like Turbo84 or Bitcoin Bounce. The company can’t give you sats directly because of Android App store’s restrictions. You can earn them, though. “Each ticket you collect is an entry into the daily prize draw. The more tickets that you collect, the more chances you have to win the bitcoin jackpot.” It certainly beats playing retro video games and NOT getting paid for it. Thndr ? https://www.thndr.games/ 2.- Get Tips For Your Pictures With Starbackr Publish your pictures and videos and get rewarded by the community on Starbackr. Tips in sats might not be the ideal way to support creators, but then again, maybe they are. Let’s experiment and see what the market says. And speaking about experiments, it seems like this service is just the first stage and not Starbackr’s final form. The company’s About Us says: “We build the platform of choice for digital content creators with instant payments, low friction, and free of moral censorship. Building on the Bitcoin Lightning network allows us to deliver a content monetization platform that is dramatically less expensive, faster, and more creator-friendly.” So, don’t lose faith if you’re not a photographer. We might hear about new services from Starbackr again in the not-so-distant future. Starbackr —> https://app.starbackr.com/ BTC price chart for 09/01/2022 on Bitstamp | Source: BTC/USD on TradingView.com 3.- Get Sats For Your Content In Stacker News Stacker News is a bitcoin-focused Hacker News clone that rewards content curation and production. The way it accomplishes this is the fundamental difference between the two sites. “Rather than collecting “upvotes” that are not redeemable or transferable on Reddit or Hacker News, Stacker News users earn sats that can immediately be spent anywhere,” their FAQ says. Each upvote or comment that your content gets rewards you with 1 sat minimum. Publishing is not free, though, it also costs 1 sat. This is one of the most evolved projects on the list, so there’s an economy around it and the team has developed new functionalities. For example, you can pay to boost your content and users can boost their upvote by rewarding more sats. Stacker News –> https://stacker.news/ 4.- Cut Clips From Your Favorite Podcasts In Fountain Fountain is a Podcasting 2.0-enabled app that distinguished itself from the crowd by allowing users to earn sats. You can listen to sponsored content and advertisement. Alternatively, you can comment or cut clips from your favorite podcast. If users like those comments or clips, you get a cut. Plus, the satisfaction of aiding in the promotion of your favorite podcast. Mind you, another possibility that Fountain and similar apps provide is that you can produce a podcast and get rewarded by the community under the Value-for-Value model. The barrier of entry is much higher, sure, but podcasting might be your calling. Fountain ? https://www.fountain.fm/ 5.- Trade Derivatives In Sats Through LN Markets If technical analysis is your forte and fundamental analysis excites you, LN Markets offers an easy way to play the markets. “Trading is done directly from any Lightning wallet and enables super fast access to derivatives markets. Open a position by making a Lightning transaction, close the position and receive the money directly in your wallet,” their FAQ clarifies. Open a trading position only if you know what you’re doing, though. At least watch a few NewsBTC Daily technical analysis episodes to kickstart your learning process. Or use LN Markets in testnet, which is also possible. Whatever you do, remember that playing the markets comes with inherent risk and that even the most experienced traders suffer devastating losses. Don’t use money that you can’t afford to lose. LN Markets ? https://lnmarkets.com/ Related Reading: Lightning Speed: Branding Opportunities On The Lightning Network, A How-To Guide Before closing, some of these services assume that you already have a Lightning Network-specific wallet. Go and learn how to set one up before interacting with them. This closes NewsBTC’s first guide to making money through the Lightning Network. If you want more content like this, tell us through NewsBTC’s social media channels. Featured Image: Bitcoin Bounce screenshot from Thndr Games | Charts by TradingView
Have you heard about Taro? It’s an improvement proposal for the Lightning Network that Lightning Labs introduced in April. “Taro makes Bitcoin and Lightning multi-asset networks,” the company claims in the latest edition of their newsletter. They also explain in simple words what the protocol does, how it does it, and the implications of its implementation. “In a world of omnipresent communications connectivity, nobody says “cross-border messaging” anymore. Taro promises to do the same thing to “cross-border payments” by decentralizing the entire global FX market into a protocol that can run on a Raspberry Pi by anyone, anywhere.” Is the Lightning Labs exaggerating? Or is Taro the protocol that will bring the next billion people to the Lightning Network? “The opportunity provided by Taro bringing assets like stablecoins to the Lightning Network is clearly enormous,” the company claims. Can Lightning Labs back that case and argue it convincingly? Let’s find out. What Taro Does And How It Does It The first thing Lightning Labs makes clear is the psychology behind the improvement proposal. It almost seems like bitcoin’s Lightning Network will be serving Taro and not the other way around. “Instead of starting from scratch and bootstrapping a new ecosystem of nodes and liquidity, Taro will leverage the existing network effects of both the infrastructure that’s been built out over the last several years plus the 4000+ BTC allocated to the network today as a global routing currency.” How does it work, though? The “edge nodes” are the key. By “integrating with Taro,” normal Lightning nodes can now “process an instantaneous conversion from L-USD into BTC or vice versa, for a small fee.” That means that “every Taro transaction on the Lightning Network will be converted into BTC by the first hop, routed across the network as BTC, and then converted back into a Taro asset by the last hop before the destination” What is a “Taro asset”? Whatever you want, your BTC can be “converted into different assets such as USD to EUR or USD to BTC.” Or, as Bitrefil’s Sergej Kotliar puts it, “Pay in currency of sender’s choice, receive in currency of recipient’s choice. This means that every wallet can now have native Strike-type “USD balance” functionality for example. With no need to trust the wallet, the only trust lies in the issuer of the token.” The trust model is the main difference from Galoy’s Stablesats, another novel concept that looks for a similar result. BTC price chart for 08/13/2022 on Bitstamp | Source: BTC/USD on TradingView.com What Does Taro Mean For The Lightning Network? In a recent interview published by NewsBTC, AXX’s head of research and strategy Ben Caselin explained the protocol further “In Taro, smart contracts and asset transfers are not executed by the blockchain, and they are also not enforced by the blockchain. Instead, transfers are executed by the sender of an asset (who has to make a corresponding bitcoin transaction), and enforced by the recipient, same as the Lightning Network.” And in the previous Lightning Speed, we theorized about how big could this development be for the Lightning Network. “According to The Bitcoin Layer, “a global capital market operating on top of bitcoin-denominated financial rails is inching closer with each new onramp.” And the Taro protocol and all of the assets it would bring to The Lightning Network is the mother of all onramps.” Back to Lightning Lab’s newsletter, the company toyed with even bigger expectations. For example: “A community bank could issue a local stablecoin on Taro and it would only need a handful of nodes or liquidity providers to make a market between the local currency and the BTC core of the Lightning Network to be connected to a global community of buyers and sellers. No permissioning required!” They’ll Never See It Coming According to Lightning Labs, bitcoin “renders cross-border payments obsolete.” Stablecoins are a huge business and so are cross-border payments. In the intersection between them, Taro stands tall. “Visa’s 65% operating margin is one of the highest of all the companies in the S&P 500 index, and this margin is Lightning and Taro’s opportunity. They’ll never see it coming.” The company expects that the benefit for everyone working on the Lightining Network will be tremendous. “We expect that bringing Taro to market and making Lightning a multi-asset network will dramatically expand the Total Addressable Market for those building Lightning applications.” And you know what more users mean, more of those sweet-sweet fees.} Featured Image by Joseph Mucira from Pixabay | Charts by TradingView
In addition to its new bitcoin-backed U.S. dollar balance on Lightning, Galoy also announced a $4 million raise.
Purchasing fractions of a bitcoin can be a mental hurdle for some — but a satoshi standard could help alleviate that.
Bitcoin First: The financial behemoth Fidelity admitted they are both hodling and mining the world’s most popular cryptocurrency. If that’s the case: what about their competitors? Covered: Fidelity Hodling Fidelity Bitcoin: Head of Sales and Marketing Has Laser Eyes Why Fidelity Loves Bitcoin Fidelity Hodling Since 2014 Many have speculated that giants such as Fidelity […]
The post Fidelity Admits They Have Been Stacking Bitcoin Since 2014 appeared first on CryptosRus.
How can you maximize your bitcoin stack and the benefits you gain from it, while HODLing?
The EU-based service now offers bitcoin cashback through Lightning in over 10,000 online merchants.
We’ll all eventually transition to holding zero fiat money, but most people cannot afford to go full bitcoin just yet.
Sats Center aims to educate elected officials and regulators on the power of Bitcoin for economic advancement and financial inclusion.
Perhaps the best way to denominate bitcoin is a separation that displays both BTC and sats.
The satcomma standard allows users to see both bitcoin and sats in one easy glance.
Beware of the "I missed the bus" bias, change your perspective, and enjoy that global adoption is still low to stack cheap sats.
The company states that new users can leverage AI to list and sell items for bitcoin in under a minute.
Fans of the Bitcoin bull have been transferring him 21 Satoshis as a way to test out the feature.
The Indian Cryptocurrency market is going through a peculiar phase. While the country is rapidly moving towards massive crypto adoption the regulatory bodies and various other agencies have been raising various concerns which are hampering the functioning of the cryptocurrency sector. However even amid such massive uncertainty a Bitcoin reward company has launched a crypto […]
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