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Bitcoin News
TL;DR
Hut 8 and US Bitcoin Corp announced a merger
Mississippi Senate passes bill to protect Bitcoin miners from discrimination
Mastercard launches Bitcoin rewards card in Spain
Brazil’s oldest bank allows residents to pay their taxes using Bitcoin
Hut 8 and US Bitcoin Corp announced a merger
According to the press release, Bitcoin miner Hut 8 and US Bitcoin Corp. have agreed to merge. Under the newly formed Hut 8 Corp., both companies are now wholly owned subsidiaries.
CEO of Hut 8 Jaime Leverton explains that the merger will help the company’s diversified strategy, while positioning themselves for near-term growth by combining Hut 8’s operational track record and diverse revenue streams with US Bitcoin’s scalable mining sites.
The newly merged company will have access to about 825 MW of gross energy for self-mining, hosting, and managed infrastructure operations across six different sites. Additionally, it will have 5.6 EH/s of self-mining capacity installed and 244 MW of electricity that will be distributed among five mining sites where two are in Alberta, two in Texas, and one in New York.
The merged companies will also be in charge of a portfolio of infrastructure activities with a total output of 680 MW, using a mix of clean energy sources in Kearney, Nebraska, and Granbury, King Mountain, Texas.
Mississippi Senate passes bill to protect Bitcoin miners from discrimination
The bill would legalize home digital asset mining and the operation of mining businesses in areas zoned for industrial use, and prohibit the Public Service Commission from imposing discriminatory electricity rates on mining businesses.
The American state of Mississippi is one step closer to protecting the rights of Bitcoin and shitcoin miners after the state Senate passed the Mississippi Digital Asset Mining Act on Feb. 8. There is a companion bill under consideration in the state House of Representatives.
In addition, the bill prohibits limiting noise from home mining beyond existing limits, imposing requirements on miners beyond those locally applied to data centers, or changing the zoning of a mining center without proper notification and an opportunity to appeal.
It also prohibits the Public Service Commission, which regulates utilities, from imposing discriminatory rates on mining businesses and exempts home and business miners from money transmitter status.
Mastercard launches Bitcoin rewards card in Spain
In an announcement on Feb. 10, Bit2Me, the largest Spanish cryptocurrency exchange, revealed its new cashback debit card in partnership with Mastercard.
The original Bit2Me card works for its users via the Mastercard network that hosts millions of businesses worldwide. This new update offers users up to 9% Bitcoin and shitcoin cashback for all purchases made with the card online or in-store.
Leif Ferreira, the CEO and co-founder of Bit2Me, told Cointelegraph that the use of already known Web2 financial tools like debit and credit cards comes with the hope of greater adoption of this "revolutionary" technology.
Brazil’s oldest bank allows residents to pay their taxes using Bitcoin
According to a statement published by Brazilian bank Banco do Brasil on Feb. 11, it is now “possible” for Brazilian taxpayers to pay their tax bill with Bitcoin and shitcoins in a joint initiative with Brazilian-based crypto firm Bitfy.
It noted that besides the convenience it brings to customers, it could “expand” the use and access to the digital asset ecosystem with “national coverage” while having the comfort of a reputable bank providing consumer protection.
Lucas Schoch, Bitfy’s founder and CEO, added that the “new digital economy is a catalyst for a future full of advantages.”
The statement said crypto users would experience a straightforward process, with the tax details displayed along with the amount of reals, the official currency of Brazil, that should be converted into Bitcoin or other shitcoin to pay the bill.
Global Economic News
TL;DR
Evidences why Yanet Yellen is not telling the truth, deep recession in the US
The mindset difference between East and the Western part of the World
Evidences why Janet Yellen is not telling the truth, deep recession in the US
"You don't have a recession when you have 500,000 jobs & the lowest unemployment rate in more than 50 years. (...) What I see is a path in which inflation is declining significantly and the economy is remaining strong.” said Janet Yellen, Treasury Secretary
Let’s see the opposing facts:
“Regardless of your outlook, saying the economy is ‘nowhere near a recession because the unemployment is so low’ goes against history of unemployment rate always near (or at) its lowest right before recession starts” by Liz Ann Sonders, Chief Investment Strategist, Charles Schwab & Co., Inc.
The New York Post revealed the results of a recent survey that showed 50% of Americans that earn over $100,000 are living paycheck to paycheck. The data showed more than half of American households earning six figures are suffering greatly from high inflation. Even more alarming, 64% of US Consumers have said they are living on “razor-thin budgets each month.” That percentage equates to around 166 million Americans.
Bank of America CEO says the company is preparing for potential US debt default.
United States' trade deficit climbed to a record $948.1 billion in 2022, up $103 billion from 2021.
”Quick update on what Americans think about the Housing Market in 2023: 82% = Bad time to Buy 17% = Good time to Buy Wall Street might be getting more optimistic about the Housing Market. But regular homebuyers certainly aren't. (More details in Nick Gerli’s thread)”
“The housing market has never frozen this rapidly. Not even leading to 2007-2008. Blackstone, KKR & Co are limiting redemptions from their funds in an attempt to slow the bleeding. Unless mortgage rates come down quick, it's not looking particularly good for house prices.” by Alf, Founder & CEO of TheMacroCompass.com
“If you ignore all history you too can believe in a soft landing.” by Sven Henrich, Founder of NorthmanTrader
“The Fed is playing with fire. Despite the recent rate hikes, financial conditions remain way too loose. This is typical of an early inflationary cycle. The longer inflationary forces persist, the harder will be to expel them from the system.” by Otavio Costa, Crescat Capital portfolio manager
The mindset difference between East and the Western part of the World
These are just speculations, no investment advice!
“Now you know… -55% loading from here.” by @profit8lue
“Bitcoin trading above the Long-Term Holder cost basis.” by @therationalroot
“BITCOIN END OF THE BEAR MARKET SIGNAL! “ by @rovercrc
“Illiquid Supply level not seen since 2014. Probably nothing.” by @therationalroot
Bitcoin Shorts
Funny Bitcoin short stories
Stack Sats wherever you are. No fees, 100% Bitcoin. ElSalvador. (video)
Satoshi Nakamoto posted this 13 years ago today:
"Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge. But don't worry, there are another 6 decimal places that aren't shown,”
The Lightning Network public capacity continues to relentlessly climb higher (over 5,500+ BTC). Nodes and channels are growing too!
Porsche and Maserati dealers in El Salvador now accept Bitcoin as payment.
Federal Reserve Bank of New York: "Bitcoin shares most of the features of a store of value, such as gold"
“First they laugh, then we win.” by @pete_rizzo_
“I like Bitcoin.” - (video) Kevin McCarthy, Speaker of the House
“Grandma in El Salvador can just go to the store and spend her Bitcoin without converting it to local currency, cutting out the bank cartel and high risk of carrying cash. This is why developing countries like Haiti need to make Bitcoin legal tender.” (video)
Choose wisely!
Luxury resort Novotel becomes first hotel in Bahrain to accept Bitcoin payments
