This Week in Bitcoin

Conference hype vs. reality check. Plus, the big banks admit massive KYC/AML failures and then offer worse solutions. Plus, why the Ethereum ETF won't dethrone Bitcoin. Affiliate LINKS: 🇺🇸 Buy Sats on River - The best way to stack in the US 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning 🏦 Fold Card - Pay bills Stack Sats 💵 SALT Lending - Get access to your BTC Value w/out Selling Links: Asset manager says Trump admin may make Bitcoin strategic reserve asset Trump to deliver potentially ‘historic’ message while at Nashville, TN Bitcoin conference - YouTube Bitcoin as US reserve currency: Trump team reportedly considers adding BTC to Treasury | Kitco News Bitcoin 2024 - Nashville Eric Balchunas on X: "Here’s BlackRock’s Ether pitch to normies Banks Find AML “Ineffective”, Propose Access To Social Media About - Wolfsberg Group Wolfsberg Group Statement on Effective Monitoring for Suspicious Activity.pdf How Money & Banking Work (& why they’re broken today) - Lyn Alden - YouTube Principles for Dealing with the Changing World Order by Ray Dalio - YouTube Proton Launches Proton Wallet Alby Hub ✨Lightning sovereignty for everyone hub on GitHub Fold Is Set to List on NASDAQ with Over 1000 BTC in Corporate Treasury ACH Bill Pay Rewards – Fold Natalie Brunell ⚡️ on X: Bitcoin is the bridge from chaos to hope. Music: Cool Summer by Tony Salomone

We're on the verge of a significant shift in Western Central Bank monetary policy, and I'll bring the receipts to back it up. Plus, some interesting data coming out of the Mt Gox and German government selling and a critical project update. Affiliate LINKS: 🇺🇸 Buy Sats on River - The best way to stack in the US 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning 🏦 Fold Card - Pay bills Stack Sats 💵 SALT Lending - Get access to your BTC Value w/out Selling Links: Fed faces cooling job market and persistently high prices, Powell says to Congress | AP News US economy no longer overheated, Fed’s Powell tells Congress Fed Chair Jerome Powell says ‘some pain’ is on the horizon. April, May revised down German Government has sold 76% of its Bitcoin Eric Balchunas on X Mt Gox Repayment Plan PDF Wasabi Wallet on X: "We have been informed that a coordinator named WasabiCoordinator is trying to slowly siphon funds from its users using a sophisticated attack. Primal Android v1.0.3 BitfinexCelsius is going after over 5000 people that withdrew their money from Celsius within 90 days of their bankruptcy. God Bless Bitcoin Documentary on X: "God Bless Bitcoin OFFICIAL TRAILER! Music Fiat Prison Blues by Brrreadfan

Fed Chair Powell shifts stance as a new economic picture sharpens. Plus, the new KYC disaster coming to US customers, project updates, and who is selling thousands of Bitcoins this week. Affiliate LINKS: 🇺🇸 Buy Sats on River - The best way to stack in the US 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning 🏦 Fold Card - Pay bills Stack Sats 💵 SALT Lending - Get access to your BTC Value w/out Selling ** LINKS** Treasury, IRS issue final regulations requiring broker reporting of sales and exchanges of digital assets Honeywell TH6320ZW2007 Lampo harbor: Ecash management tool BOLT 12 | This is how we bitcoin in the future! Twelve Cash Phoenix Wallet “New major release!” Median new US home price in Bitcoin Andrew Tate announcing his new Scam token Meet up along the way: Spokane Meetup - No-Li Brewhouse, Sat, Jul 13, 2024, 4:00 PM | Meetup MUSIC Charlie by Kurtisdrums

A few widow-makers hanging over Bitcoin this week, and the post-halving miner capitulation has begun. What we're starting to see, and why, when we look back, this will be remembered as a wild week. Affiliate LINKS: 🇺🇸 Buy Sats on River - The best way to stack in the US 🇨🇦 The Bitcoin Well - An amazing automatic self-custody Bitcoin platform ⚡ The Bitcoin Company - Spending your Bitcoin Via Lightning 🏦 Fold Card - Pay bills Stack Sats 💵 SALT Lending - Get access to your BTC Value w/out Selling LINKS: Travis Kling on X: "All at the same time Hashrate continues to fall. When Bitcoin drops to $62K it means miners enter limbo and the first circle of Dante’s Hell. The miner capitulation is over—bitcoin’s next bull run begins. - YouTube Bitcoin (BTC) Miner CleanSpark (CLSK) to Buy Peer Griid (GRDI) for $155M Enterprise Value First-quarter GDP grew a soft 1.4%, but the U.S. economy might have more ‘spring’ in its step - MarketWatch Fed Rate Cuts Latest: Favorite Underlying Inflation Gauge Is Seen Cooling - Bloomberg Dashboard | Truflation California Reveals All Job Gains In 2023 Were Fake Yahoo News clip Carl Louis on X FDIC Thread Muntiny Wallet: Updates after DNS issues Strike launches in the UK following European rollout Jack Dorsey & Lyn Alden | The Power of Open Source - YouTube BBC coverage of Bitcoin since 2013 Nostr: Find my Nostr Public Key at ChrisLAS.com MUSIC: Live While I’m Alive by Abel James

Bitcoin under fire: New mining attacks miss the mark, why Bitcoin’s price stalled, and the critical flaws in Bitcoin Core and LND. Sponsor: http://podhome.fm Promo Code: TWIB Affiliate LINKS: Buy Sats on River The Bitcoin Company LINKS: U.S. national debt will reach $50 trillion by 2034, CBO projects Billionaires U.S. 2023 | Statista Main reason why rates will get cut regardless of where inflation will stand. Credit card defaults from small lenders have hit RECORD levels Housing defaults have just hit the highest levels since 2011 OG whales have sold over 50,000 $BTC in the past 10 days, totaling approximately $3.30 billion. https://thebitcoinhole.com/hardware-wallets Boltz exchange swap blog post: https://blog.boltz.exchange/p/dispatching-chain-swaps US SEC ends Consensys investigation into Ethereum 2.0 Consensys on X: The SEC has notified us that it is closing its investigation into Ethereum 2.0 Energy FUD: Lieutenant Governor Dan Patrick Attacks Bitcoin Mining with FUD Bitcoin mining, AI data centers increasing demand on Texas power grid, leaders say - YouTube Oklahoma Governor signs bill into law that exempts Bitcoin miners from sales tax on electricity bills Oklahoma Governor Signs Bill Exempting Sales Tax for Bitcoin Mining JUST IN: Cambridge publicly acknowledges that the age of their Bitcoin mining data leads to “an overestimation in our emission estimates by ~25%” BEEST (Bitcoin Energy & Emissions Sustainability Tracker) Bitcoin Core v27.1: Bug Fixes & Performance Improvements LND Versions Prior to v0.17.0 Vulnerable to LND Onion Bomb DoS Attack

A new must-pass bill gives the President of the United States the power to block any Bitcoin transaction. Also, thoughts on the Fed rate and why Bitcoin Miner Bitfarms is preparing a “poison pill” strategy. Sponsor: http://podhome.fm Promo Code: TWIB LINKS: New law grants US president power to block digital asset access Senate Bill Could Open Crypto to U.S. Sanctions, but Industry Trying to Head It Off Text - S.4443 - 118th Congress (2023-2024): Intelligence Authorization Act for Fiscal Year 2025 | Congress.gov | Library of Congress Powell Admits The Biden Admin Is “Overstating” Jobs Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000 Wall Street Admits The Biggest Economic Shocker: All Jobs In The Past Year Have Gone To Illegal Aliens Bitfarms Adopt ‘Poison Pill’ Strategy to Fend Off Hostile Takeover by Riot Platforms (UPDATED) The decision follows Riot Platforms’ recent disclosure that it has acquired a 12% stake in Bitfarms, as well as a rejected $950 million acquisition offer. Music Give My Life by Minno

Inflation be damned, central planners have decided to lower the cost of money. How the banks lowering rates impacts Bitcoin. Plus, the shocking stats of the Bitcoin ETFs, project updates, and more. Sponsor: http://podhome.fm Promo Code: TWIB Links: Canada becomes first G7 nation to cut interest rates Bank of Canada Cuts Interest Rates to 4.75%, Signals More to Come - Bloomberg European Central Bank cuts interest rates, diverging from the Fed ECB cuts rates as it raises its 2025 and 2026 inflation forecasts. ECB Raises Inflation Forecast For 2024 And 2025 Bitcoin - BTC Price, Live Chart, and News | Blockchain.com Bitcoin Address | Wallet Lookup - Blockonomics US President Joe Biden vetoes SAB 121 repeal Riot Platforms Acquires 9.25% Stake in Bitfarms Following Rejected $950M Takeover Offer Bitcoin (BTC) MIner Core Scientific Rejects CoreWeave’s $1B Buyout Offer SimpleX blog: SimpleX network: private message routing, v5.8 released with IP address protection and chat themes SimpleX Chat v5.8: Private Message Routing Citadel Securities, BlackRock back Texas stock exchange project Music Red Light By: Tony Salomone

The increasing probability of Stagflation might cut Bitcoin's post-halving bull run off at the knees; my thoughts on the Ethereum ETF and why I'm getting skeptical of the political "tone shift." Links April pending home sales hit lowest level since start of pandemic This morning’s revised data show the gov’t is basically “buying” GDP w/ debt, but getting only 50 cents on the dollar - worst deal ever… United States M2 Money Supply is now positive YoY for the first time since November 2022. Germany’s industry in decline - a giant is falling \ stacker news ~econ SEC approves rule change to allow creation of ether ETFs Ethereum ETF to Get 20% of Bitcoin ETF Flows As crypto cash floods Washington, Congress eyes gentler regulations - The Washington Post President Biden Announces Presidential Delegation to the Republic of El Salvador to Attend the Inauguration of His Excellency Nayib Bukele | The White House Biden campaign ramps up crypto industry outreach in surprising tone ‘shift’ | The Block faradayfedora’s Shakepay Link STUDY: The Personality and Motivational Characteristics of Bitcoiners 🧡 Bitcoiners tend to be intellectually curious and emotionally stable 🌎value personal growth, relationships, community over material possessions 📈Scored significantly higher in financial literacy than the general population Saifedean Ammous on why Bitcoin is Finical Gunpowder Music Tip Toe by Jack Holliday

It's more than Trump. The three major shifts compelling the White House to halt their attack on the Crypto industry. Plus, the details around the new FIT21 bill that takes power away from the SEC, and why I think an Ethereum ETF might be bad for Bitcoin. Sponsor: http://podhome.fm Promo Code: TWIB LINKS: JPM Emly Choy Predsent and Chief Operating officer said:“The tone from the SEC has just changed literally overnight…The administration sensing some panic” Financial Innovation and Technology for the 21st Century Act (H.R. 4763) - GovTrack.us Operation Choke Point 2.0: How U.S. Regulators Fight Bitcoin With Financial Censorship - Bitcoin Magazine - Bitcoin News, Articles and Expert Insights Custodia Bank Loses Lawsuit Challenging Fed Rejection of Master Account Application Caitlin Long FULL TESTIMONY Elizabeth Warren circled wagons around embattled FDIC chief Martin Gruenberg | Semafor White House PDF SAP-HR4763.pdf SEC Mandates Overhaul of Ethereum (ETH) ETF President Biden and SEC Chair oppose major crypto bill hours before voting U.S. President Biden Does Not Threaten Veto Against House Crypto Market Structure Bill, But ‘Opposes Passage’ https://relai.app/ (J’informatique's code: REL218932) p2prights.org The Peer-to-Peer Rights Fund Launched to Protect Open-Source Devs, Starting with Samourai Case This Man Did Not Invent Bitcoin - The New York Times Ripple’s Anti-Bitcoin Campaign To Promote CBDCs Music Element Zero by Reel Richard

The surprising legal win Bitcoin scored this week and the brewing battle on the horizon. My three takeaways from the newly released Bitcoin 13F Filings, and great news for Bitcoin mining. Sponsor: http://podhome.fm Promo Code: TWIB LINKS: Tornado Cash Developer Alexey Pertsev Sentenced to 64 Months in Prison in the Netherlands Lyn Alden on X: “Criminalizing the mere development and publication of code is an ugly precedent. If published in a book or a blog, it would mean the book or blog is illegal. An illegal order of numbers and letters. Very different than actually using code maliciously.” / X Sens. Lummis, Wyden oppose Justice Dept. stance on Tornado Cash charges Casten, Foster, Sherman, Cleaver Introduce Legislation to Temporarily Prohibit Crypto Mixers | U.S. Congressman Sean Casten Text of the Bill PDF IBEX Pay Suspends Services in the United States Asaf Givoli on X: “🚀🌊 #Bitcoin mining in 🇵🇾 #Paraguay just got greener! Using 💯% renewable 💧 hydro-power, we’re not just mining, we’re educating! Join the movement as we power up 📚 #BitcoinEducationacross Latin America. 🌱🙌 #GreenMining #CryptoFuture #BTC https://t.co/3zbz3k1ggv” / X Daniel Batten on X: “Another nation state leader attests to the benefits of bitcoin mining Kenya has 10 GW of geothermal energy alone, 9 GW of which is completely untapped Bitcoin mining can unlock Kenya’s energy abundance, bringing renewable energy online that otherwise would have been unviable” / X Bitcoin Archive on X: “BREAKING: 🇦🇷 Argentina to mine #Bitcoin using stranded gas with 1,200 bitcoin mining machines - Forbes 🔥 https://t.co/IWSxpH5okP” / X Three takeaways from Bitwise CIO’s weekly memo to investors. The State of Wisconsin Investment Board reports the following positions: BlackRock Bitcoin ETF: $99,167,688 (2,450,400 shares) Grayscale BTC: $63,687,310 (1,013,000 shares) This is a small part of a massive…" bordalix/helm-wallet: The lightning wallet even your grandma can use Music I Need a Little by The Retrograde