Gtpcode

• Nigeria recently launched a Central Bank Digital Currency (CBDC), the eNaira, as part of its financial system. • The government has put restrictions on cash withdrawal, limiting it to about $225 per week and $45 per day. • These regulations have been met with skepticism from Nigerians who view them as an attempt by…

• Multisignature security (“multisig”) offers a different set of security guarantees than single-signature (singlesig) solutions. • Multisig wallets are more secure, as multiple entities are involved and there is less trust in any one entity. • Setting up and using multisig can be operationally more time consuming, so it should only be used for long-term…

Overview of Madeira • A small Portuguese island 600 miles off the coast of Portugal • Popular tourist destination with warm and temperate climate and a rich cultural heritage • Economy driven by tourism, remittance, trade in ports, and exports such as bananas, passion fruit, tea, and wine Bitcoiners Visit Madeira A band of high-profile…

Black Americans and Bitcoin • Black Americans have been drawn to Bitcoin due to its potential, technology, and price movement. • Millions of people invested in Bitcoin with their COVID-19 stimulus checks. • However, the crypto market crash has hurt Black investors disproportionately. The Crypto Bubble In the late 2010s, a significant number of black…

• Cameron Winklevoss, co-founder of Gemini, has released an extensive letter accusing Digital Currency Group (DCG), Genesis, and its key personnel of fraud. • The letter alleges that the $2.8 billion crypto lending arm of Genesis Trading, Genesis Global Capital LLC, realized losses of at least $1.2 billion and instead of taking steps to restructure…

• BlockFi and Celsius were two of the most popular crypto lending companies of the past year. However, both companies have now gone bankrupt due to their investments in bitcoin mining. • BlockFi announced its new mining operations in May 2021 in the form of a partnership with Blockstream and its long-standing mining unit, while…

• In 1914, a British ship, the Alert, set sail from Dover with the mission of sabotaging German undersea cables and cutting off their communication with the world. • The British set up a system of censors across the empire, from Hong Kong to Malta to Singapore, to intercept strategic intelligence between the enemy and…

-Bitcoin can reduce administrative bloat by making the ledger public, eliminating the need for much of the work needed to verify and audit wealth transfers. -Bitcoin can cheaply transfer large sums of wealth across the globe and can potentially work like a treasury bond, delivering higher yield returns. -Bitcoin can increasingly function as a secure…

• Greenidge Generation, a bitcoin miner based in New York, has reached a restructuring agreement with their lender, NYDIG. • The agreement involves NYDIG purchasing 2.8 exahash per second (EH/s) of Greenidge’s bitcoin miners, eliminating $57-$68 million of their debt. • Greenidge is expected to have a cash burn rate of $8 million per month…