• Bitcoin mining is becoming more centralized, with two mining pools controlling 52% of the global hash rate.
• Mining pools are servers that unite miners from different areas to combine their computing resources and increase their chances of winning the proof-of-work competition.
• Despite this centralization, many still believe in a future where anyone can mine using household appliances or wearable devices.

Centralization Of Bitcoin Mining

Recent data shows that Foundry USA coordinated 34% of the global hash rate and Antpool’s share was 18.2%. These two mining pools together account for over half of Bitcoin’s computational power. This centralization has been called out by well-known Bitcoin developer Peter Todd who warned that it could lead to censorship and regulation.

What Is Pool Mining?

Pool mining is a method miners use to increase their chances of success when competing for block rewards in a proof-of-work competition. It involves joining together computing resources from multiple miners located around the world and combining them as if they were one team participating in the competition to win rewards more frequently than an individual miner would be able to do on its own.

Benefits Of Pool Mining

Pool mining provides very tangible benefits for miners, especially those operating large-scale operations, such as access to more frequent rewards which allows them to cover electricity costs and any loans taken out to purchase hardware or other expenses related to running a successful operation. Additionally, pooling resources also helps small miners compete against larger ones since all participants benefit proportionally according to their contribution in computing power.

The Future Of Mining

Despite this current trend towards centralization, many Bitcoiners still hope for a future where anyone can mine using household appliances or wearable devices equipped with specialized microchips. While this might not be so far from reality, we are still in Bitcoin’s genesis chapter and must take these trends into account before making any predictions about what lies ahead.

Conclusion

To conclude, while pool mining offers significant advantages for miners today — allowing them access to more frequent rewards — it is important that we remain aware of the implications of such centralization on the industry as a whole. Moving forward, further research should be conducted into solutions which allow individuals and smaller operations access to better technology so that they can compete with larger players on an equal playing field while also ensuring decentralization remains at the core of cryptocurrency networks like Bitcoin

• Yuga Labs has released their first Bitcoin Ordinals NFT collection, TwelveFold, which consists of 300 generative art pieces.
• The pieces explore the relationship between time, mathematics, and variability and are inscribed onto satoshis on the Bitcoin blockchain.
• Ordinals have made it possible to add images to Bitcoin transactions and have contributed to more than 200,000 inscriptions.

Yuga Labs Introduces First Bitcoin Ordinals NFT Collection

Yuga Labs has released a new 300-piece generative art collection titled “TwelveFold” that will live on the Bitcoin blockchain. The pieces explore the relationship between time, mathematics, and variability in an homage to ordinal inscriptions currently done by hand. This marks Yuga Labs’ entry into the Bitcoin marketplace and could potentially indicate a new perception of Ordinals as a platform for top-level NFT creation.

What is TwelveFold?

TwelveFold is a base 12 art system localized around a 12×12 grid. It includes highly-rendered 3D elements as well as hand-drawn features that serve as an homage to the ordinal inscriptions currently done by hand. This experimental collection aims to illustrate data cartography on the Bitcoin blockchain.

Popularity of Yuga Labs’ Projects

A March 2022 seed round at the height of the NFT craze placed the value of Yuga Labs at $4 billion due to its flagship projects’ immense popularity. The company has quickly ascended to become one of leaders in the NFT market and is now looking towards bringing content such as images, videos, and HTML into bitcoin transactions through Ordinals.

Inscriptions on Bitcoin Blockchain

Ordinals bring content from third parties or centralized databases into immutable decentralized realm of bitcoin transactions – making it possible for users to add images assigned to individual satoshis. In only three weeks since its introduction over 100 000 collectibles were inscribed onto full nodes – now this number stands at more than 200 000 – proving how popular this feature is becoming among users.

Conclusion

Yuga Labs’ entry into bitcoin marketplace with their first “Twelvefold” collection could be seen as an indicator that Ordinals are going towards becoming platforms for highest levels of NFT creation – allowing content such as images, videos and HTML to be included in bitcoin transactions assigned to individual satoshis with high user engagement rate.

• BlueWallet is ending its custodial Lightning wallet service by April 30, 2023.
• Users are requested to remove funds from their BlueWallet custodial Lightning wallets as soon as possible.
• Regular BlueWallet Bitcoin wallets and self-custody Lightning wallets will not be impacted.

BlueWallet Ending Custodial Lightning Wallet Service

BlueWallet, a popular Bitcoin wallet with apps in both the iOS and Android stores, has announced that it will end its custodial Lightning wallet service by April 30, 2023. In a blog post, the company is requesting that users remove funds from their BlueWallet custodial Lightning wallets as soon as possible in order to ensure the security of their funds.

Regular Wallets Not Impacted

It was made clear that regular BlueWallet Bitcoin wallets and self-custody Lightning wallets –– where users connect to their own Lndhub –– will not be impacted by this change. Although creating new or refilling existing Lightening wallets on LndHub node will no longer be possible, users can still access Lndhub as a software and self-hosted solution, able to connect to their own LndHub from BlueWallet or other software that supports the LndHub API specification.

Lndhub Fulfilling Its Purpose

The blog post explains why this decision was made: “Lndhub started as a weekend experiment on a new fringe technology barely used at the time called the Lightning Network,” it reads. “Today, with the availability of more mainstream services offering scalable solutions, Lndhub has fulfilled its purpose in its current form.”

Optimistic Outlook for Future

The post concludes with an optimistic take on the situation: “This may sound like bad news, but this essentially means BlueWallet going forward will only support self-custody solutions,” it states. “This is good for bitcoin and BlueWallet users.”

Conclusion

Overall, while this change may cause inconvenience for some users of BlueWallet’s custodial Lighting wallet service, they can rest assured that regular Bitcoin wallets and self-custody Lighting wallets are still safe and secure within the platform.

• This opinion editorial by Konstantin Rabin discusses the importance of studying traditional investment strategies, such as those found in the Talmud, for their potential application to Bitcoin and other crypto investments.
• The article highlights a particular reading from the Gemara that advises investors to divide their assets into three parts: land, cash on hand, and risky investments.
• The article suggests that real estate is one of the most stable investments and can contribute to wealth preservation.

Traditional Investment Strategies

This is an opinion editorial by Konstantin Rabin, a finance and technology writer. As a huge supporter of all things crypto, and especially Bitcoin, my thoughts often drift to a time before this revolutionary technology appeared on the scene, and I stand in awe of what it is bound to accomplish. I wonder: How would our forefathers have looked at it, and how can we use their teachings, applying the thought of the old thinkers to our modern existence? While the money management strategies that can be found in books from thousands of years ago might seem crude or irrelevant to us today, I have always tried to look past the words on the page and into the meaning behind them to figure out what lessons they might teach us today. One day, while chatting with a friend about this, we considered why Bitcoin might even be backed by Talmudic teachings.

The Start Of An Idea

I’m not a religious person by nature, but it is hard to avoid conversations that stray off into that realm when sitting with some of your Jewish friends who are keen students of the Talmud and all things relating to Judaism. So, one night as I sat with one of these friends of mine, he brought up the Gemara, a component of the Talmud that incorporates investment advice and is often praised for its simplicity and effectiveness. The 63 books of the Gemara serve as a commentary on the Mishnah which in turn serves as first major writings of Jewish oral traditions spanning hundreds of years. The section that my friend was referring to though was reading that goes as follows:
“R Isaac also said: One should always divide his wealth into three parts: (investing) a third in land ,a third in merchandise ,and (keeping) a third ready at hand.”-The Gemara Tractate Baba Mezi’a 42a

Divide Into Three Parts

The idea is that in order invest your money properly you should divide your assets into three equal parts spread equally among land ,cash at hand ,and risky asset .Hence this is what traditional Jewish diversified portfolio would look like :
A Third In Land – Land or if we generalize real estate is one most stabile investment out there .Buying holding onto land or any other type residential commercial real estate has been practice for thousand years just valid todaywith expectation real estate market growing compound annual growth rate 10 .7 % 2022 2031 .Hence keeping portion fund in real estate seems great wealth preservation growth opportunity .

Cash On Hand

Cash at hand means having liquid asset available emergency situation easily converted cash form also known liquidity .Having enough liquid asset cover expenses six month even year wise decision protect against unexpected expense like medical emergency job loss etc .Having emergency fund helps reducing stress levels allowing investor take advantage opportunities arise markets without fear losing important part portfolio because required immediately fund new venture or purchase capital good etc

Risky Asset Investing rest third portfolio riskier option like stock mutual funds ETF cryptocurrency etc help grow wealth overtime volatile trade increase returns however must understand higher return comes higher risk too hence knowledge right allocation risk taking capacity important reach financial goal allocating asset proper mix secure future

Summary of the Article

• Cryptocurrency players Pouch.ph and Coins.ph are hosting the first-ever Bitcoin Island Retreat in Boracay, Philippines from March 27-29 2023.
• The retreat will bring together bitcoin enthusiasts, thought leaders, investors and developers from around the world.
• Speakers at the event include Jack Lee (founder of HCM Capital), Augustus Ilag (Sequoia Capital’s Southeast Asia crypto practice) and Jiro Reyes (founder of Bitskwela).

Details of Event

Payments processor Pouch.ph and exchange Coins.ph have announced their partnership to host the country’s first-ever Bitcoin Island Retreat in Boracay from March 27-29 2023. The event is expected to bring together a host of bitcoin enthusiasts, thought leaders, investors and developers from around the world to network, discuss bitcoin and interact with key players in the industry.

Event Speakers

Ethan Rose (the founder and CEO of Pouch.ph) and Elijah Tan (the VP of operations at Coins.ph) will lead the trailblazers in the Bitcoin industry during this event. Other speakers include Jack Lee (founder of HCM Capital), Augustus Ilag (Sequoia Capital’s Southeast Asia crypto practice) and crypto educator Jiro Reyes (founder of Bitskwela).

Bitcoin Bounty

Attendees at this retreat also have a chance to win a bitcoin bounty if they can find the 12-word seed phrase to a private key owned by Dread Pirate Nakamoto which is placed around the island.

Reservations

Interested parties can visit https://pouch.ph/retreatrsvp for more information or to reserve a spot for this retreat.

• Pick n Pay, a South African retailer, has launched acceptance of bitcoin for payments throughout all of their stores.
• Customers can use CryptoQR to buy groceries, airtime and electricity, plane and bus tickets, and pay municipal bills with Bitcoin.
• The introduction of bitcoin to Pick n Pay’s stores is likely to have a significant impact on the broader bitcoin payments landscape in South Africa.

Pick n Pay Launches Bitcoin Payment Acceptance

Pick n Pay, a South African retailer, has launched acceptance of bitcoin for payments throughout all of their stores after previously running a test pilot in 39 stores in November 2022. Now customers will be able to use CryptoQR to purchase groceries from any Pick n Pay store across the country.

What Can You Buy With Bitcoin?

Customers can also use their bitcoins to purchase airtime and electricity, plane and bus tickets, and pay municipal bills at the till! There is a small service fee associated with payments made in BTC which costs the customer on average 70c (roughly $0.04) of the local currency as of November 2022.

Impact On Wider Adoption Of Bitcoin Payments

The introduction of bitcoin to Pick n Pay’s stores could bring widespread adoption of bitcoin usage by introducing new users to spending rather than selling it for usability. This could be a major step forward in the wider adoption of bitcoin payments as it could inspire other major retailers to follow suit.

Market Share In Formal Food And Grocery Sector

Pick n Pay has almost 2,000 stores across South Africa with 16% market share in the formal food and grocery sector according Business Insider South Africa report. By allowing people to spend their BTC at larger retailers like Pick n Pay line between setting aside money for bitcoin and simply utilizing it as your money is blurred.

Conclusion:

The launch of acceptance for Bitcoin payments at Pick ‘n’Pay marks an important milestone towards driving wider adoption of cryptocurrency usage across many different sectors in South Africa. It not only brings more usability but also drives greater trust by providing convenience when making transactions with digital currencies such as Bitcoin.

• Sen. Ted Cruz (TX-R) has proposed a resolution that would allow vendors within the Capitol area to accept payments in cryptocurrencies such as Bitcoin.
• Sen. Cruz is an outspoken advocate for Bitcoin, seeing it as a potential boon both on a national and state level.
• The resolution, if passed, would provide primary exposure to Capitol politicians on using BTC as a daily payment method.

Sen. Ted Cruz’s Initiative

Sen. Ted Cruz (TX-R) has proposed a resolution that would request vendors within the Capitol area to work with payments providers that accept bitcoin. The proposal specifically mentions that restaurants, gift shops and vending machines within Capitol Buildings should work with persons accepting cryptocurrencies such as bitcoin, which would allow the lawmakers of the United States to purchase their on-the-go snacks with sound money as they please.

Sen. Cruz’s Support for Bitcoin

Sen. Cruz has been an outspoken advocate for bitcoin before, saying that “One of the reasons I’m bullish on Bitcoin is because it’s decentralized.” He also sees the benefits of bitcoin mining as a potential boon for Texas, a state which has been at the forefront of the industry since China’s bitcoin mining ban and subsequent hash rate exodus in 2021.

Potential Impact of Resolution

While the move for acceptance at vendors may be perceived as inconsequential, if it passes, it could serve as the first primary exposure for Capitol politicians to using BTC as a daily payment method. Bitcoin can be an abstract concept for those who have not seen its usage in a payments setting, so small resolutions like this can possibly shift perspectives for an on-the-fence politician.

Passing Process

The resolution will need to pass both the House and Senate in order to take effect. Once approved by both chambers of Congress, this bill will become law and will require all vendors located within or near Capitol buildings to accept cryptocurrency payments from members of Congress using secure providers such as Coinbase or Bitpay.

Conclusion

In conclusion, Sen. Ted Cruz’s initiative could potentially open up new opportunities and avenues for Capitol politicians when it comes to utilizing cryptocurrency in their daily lives and expanding their understanding of digital assets beyond what is available through traditional finance institutions

Summary

• New Hampshire’s Commission On Cryptocurrencies And Digital Assets has recommended that the state review how bitcoin mining operations might be integrated into a statewide energy plan.
• Texas recently released a report recommending making bitcoin an authorized investment for the state and giving tax incentives to local BTC miners.
• Regulation is necessary to protect consumers in this market.

Background on New Hampshire’s Commission on Cryptocurrencies and Digital Assets

New Hampshire Governor Chris Sununu created the Commission via executive order back in February 2022, which in part read that “the State of New Hampshire should continue to be an active proponent of financial services innovation and should remain an excellent jurisdiction to attract the highest quality banking and financial businesses and the well-paying jobs they offered to our citizens.” The commission has since returned results that suggest the NH Department of Energy create a public review of how bitcoin mining operations might be integrated into a statewide energy plan. The commission cites “positive impacts for the electricity system, including contributing to a more stable electricity grid, more sustainable generation projects, and lower costs for consumers generally,” as reasoning for this recommendation.

Findings from Texas Work Group on Blockchain Matters

A couple of months ago, Texas released a report titled “Texas Work Group On Blockchain Matters.” Directed at members of their legislature, it recommended making bitcoin an authorized investment for the state while giving tax incentives to local BTC miners. Both reports conclude that further research into Bitcoin is necessary, and indicate that American states are increasingly considering the benefits of embracing bitcoin. Also indicated in both reports was the necessity for regulation to protect consumers.

Conclusion

States like New Hampshire and Texas could end up leading the way for Bitcoin adoption in the U.S. if they decide to follow such recommendations. It is important for Bitcoiners who have ties to state legislature or are in the Bitcoin ecosystem to advocate for continued inquiry into how states can integrate the technology, as states are often much more nimble in their ability to adopt new technologies when compared to the federal government.

“Well Regulated” Market Necessary For Consumer Protection

The New Hampshire Bureau of Securities Regulation wrote in appendix B that “A well regulated cryptocurrency market provides consumer protection, and trust in the market which is a boon to investors, general public ,and businesses alike.” What has become increasingly clear over past several years is that cryptocurrency has a role in securities regulation – thus regulation is necessary protect consumers within this market as well.

Implications Of This Report

This report suggests that American states are becoming increasingly open towards cryptocurrencies like Bitcoin with potential implications being made towards making them authorized investments with tax incentives from certain states . Furthermore , it also indicates there must be some form of regulations regarding these markets so as provide consumer protection .

• Arman The Parman, a Bitcoin educator passionate about privacy, suggests a sats symbol consisting of a reverse “S” and a vertical strikethrough.
• This symbol poetically references the 21 million bitcoin hard supply cap and is a horizontally or vertically reversed dollar sign representing the anti-dollar.
• The symbol has received an overwhelmingly positive response on social media, with some commenters noting that it contains elements of Knut Svanholm’s “infinity” divided by 21 million meme.

Bitcoiners have long been searching for a symbol to represent sats, the smallest unit of a bitcoin. After much debate, Arman The Parman, a Bitcoin educator passionate about privacy, has proposed a symbol that many Bitcoiners can agree on. The symbol is a combination of a reverse “S” and a vertical strikethrough, which combined together makes 21 – a reference to the 21 million bitcoin hard supply cap. Additionally, this symbol is a horizontally or vertically reversed dollar sign, serving as a visual representation of the anti-dollar, or the dollar-killer.

Arman’s symbol has already received a warm welcome on social media, with many commenters praising the poetic beauty of the symbol and noting that it contains elements of Knut Svanholm’s “infinity” divided by 21 million meme. One Twitter user even pointed out that the reverse “S” and strikethrough can represent the first and last letters of “Satoshi,” the pseudonymous creator of Bitcoin.

Overall, it seems that Arman’s symbol has the potential to become the definitive sats symbol. Not only is it aesthetically pleasing, but it also encapsulates the spirit of Bitcoin and the desire to break away from the traditional financial system. With any luck, Bitcoiners will be able to settle on this symbol and use it to represent sats around the world.

• Sitiveni Rabuka, the new Prime Minister of Fiji, is reportedly considering the adoption of Bitcoin as legal tender.
• Lord Fusitu’a, a noble and former member of parliament of neighboring nation Tonga, has confirmed that Rabuka is a bitcoin bull.
• The adoption of bitcoin could help both Fiji and Tonga by providing remittances and mining opportunities.

The Pacific Islands of Fiji recently welcomed a new Prime Minister in the form of Sitiveni Rabuka, and now it seems the new leader is actively considering the adoption of Bitcoin as legal tender. This revelation comes courtesy of Lord Fusitu’a, a noble and former member of parliament of neighboring nation Tonga, who has reportedly confirmed that the Fijian politician is a bitcoin bull.

Lord Fusitu’a shared the news on Twitter, writing, “A new pro-#Bitcoin friendly Prime Minister in the South Pacific. Fiji’s newly elected Prime Minister @slrabuka. Let’s go 2 for 2 – BTC Legal Tender Bills for the Pacific in 2023.” This tweet hints at Tonga’s own Bitcoin legal tender legislation, which could reportedly go live as early as Q2 2023.

The Bitcoin dream first started brewing in Tonga right after El Salvador’s Bitcoin Law came into effect, and now it looks like Fiji could be the next country to bring BTC under its definition of legal tender. When asked about the situation, Lord Fusitu’a told Cointelegraph that Fiji’s new Prime Minister “asked to meet with me which we did via zooms since last year to walk him through step by step, how he could adopt bitcoin legal tender.”

The adoption of bitcoin could help both Fiji and Tonga in two specific areas; remittances and mining. Remittances sent to Fiji accounted for 11.3% of the country’s gross domestic product (GDP) in 2021, per World Bank data. Tonga’s situation is even more dramatic –– remittances were a whopping 45.5% of the nation’s GDP in 2021. As for mining, both countries can take advantage of their geology.

The news of a potential Bitcoin legal tender in Fiji is exciting for the cryptocurrency industry, as it could lead to the adoption of Bitcoin in the wider Pacific region. In addition, it could also be a boon for the tourism industry in Fiji, as more travelers would be able to pay for goods and services in Bitcoin. It remains to be seen if Rabuka will take the plunge and adopt Bitcoin as a legal tender, but if he does, it could be an extremely positive move for both Fiji and Tonga.