Archives: January 2023

German Immigrant Builds Life in Portugal Through Bitcoin & Homesteading

• Julia is a German who moved to Southern Portugal where she has built a homestead and is part of the local Bitcoin community.
• She has been in Portugal for 15 years and her family has joined her there.
• Julia talks about the investment and time commitment involved in both Bitcoin and homesteading, and the growth of the Bitcoin meetup in her local community.

Julia moved to Southern Portugal 15 years ago, and since then she has built a homestead and become part of the local Bitcoin community. Julia is originally from Germany and initially moved to Portugal as part of a journey of exploration and to take up a job opportunity. Little did she know at the time, but the move would end up transforming her life.

Julia’s parents and brothers joined her in Portugal shortly after she arrived, making it their home too. The last time Julia visited Germany was 15 years ago, and she doesn’t go back there regularly.

In our conversation about her homestead, local community and Bitcoin, Julia shared her insights about the investment and time commitment involved in both Bitcoin and homesteading. She also spoke about the growth of the Bitcoin meetup in her local community. Julia believes that the work to understand and work on Bitcoin or a farm demands high upfront investment and very low time preference.

Julia has experienced the rewards of her 15-year commitment to Portugal first-hand. She has seen the growth of the Bitcoin meetup in her local community, which she believes is a testament to the power of her investment in the area. She has also seen the fruits of her labor in her homestead, which now feeds her family.

Julia’s story is a reminder that with hard work and dedication, great things can be achieved. Through her commitment to both Portugal and Bitcoin, Julia has built a life for herself and her family that is both fulfilling and rewarding.

Win 2.1 BTC: Fedi Launches Bitcoin Hackathon to Revolutionize Finances

• Technology company Fedi is launching a Bitcoin hackathon with a reward of 2.1 BTC for the winner.
• The hackathon encourages developers to build out a Fedimint module that will bring real world benefits to users.
• Fedimint is an open source custody platform that leverages Federated Chaumian Ecash and provides strong privacy, better security, and ease of use.

Technology company Fedi is launching an exciting Bitcoin hackathon in celebration of Bitcoin’s 14th birthday, offering a reward of 2.1 BTC to the winner. Fedi is focused on building a Fedimint-based community custody platform, so the hackathon is designed to encourage developers to build out a Fedimint module that will bring real world benefits to users.

Fedimint is an open source custody platform that allows users to store their bitcoin and extend its functionality with privacy, smart contracts, and more. It is based on the concept of second-party custody, which involves trusting family members or friends with the custody of one’s bitcoin in a way that improves the trust and security models inherent in the classic centralized third-party custody solutions. And it leverages Federated Chaumian Ecash, which means users also gain privacy. In a nutshell, Fedimint wallets have the potential to bring strong privacy to Bitcoin users with better security than third-party custody setups and more ease of use than fully-fledged self-custody solutions.

The hackathon is open ended, meaning that developers can code the functionality they want; but they are, of course, incentivized to work on what would drive the most impact. Fedi shared some ideas of what those could be, including modules that would enable a communal savings pool to accumulate bitcoin for a large project, storing value in a local currency like dollars, receiving payments privately via static QR codes or links (similar to CLN’s BOLT 12 offers), or operating a communal vote based spending pool.

Obi Nwosu, Fedi CEO, shared in a statement sent to Bitcoin Magazine that “At Fedi, we believe that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. Bitcoin was created to give individuals more control over their finances and to enable them to take part in a global financial system without needing to rely on traditional banking infrastructure. With Fedimint, we are aiming to bring this same level of control, access, and financial inclusion to users of the Bitcoin network.”

The hackathon is a great opportunity for developers to create projects that will bring real world benefits to users and be rewarded for their efforts. If you’re a developer, don’t miss this chance to build something that could revolutionize the world of Bitcoin and make you eligible for the 2.1 BTC bounty.

Bitcoin’s Defining Year: Global South Leads the Way in 2023

• Bitcoin had a defining year in 2022 and is at a turning point.
• The Global South will continue to lead Bitcoin adoption, with increased trade volumes in Africa due to its necessity.
• The divide between Bitcoin and other assets will continue to grow in 2023.

This past year has been a defining moment in the history of Bitcoin. After a decade of growth and innovation, we are now at a turning point. Bitcoin has progressed to a point where its use cases have become abundantly clear, and the world is starting to take notice. Governments and financial institutions are now recognizing the potential that Bitcoin holds, and the cryptocurrency is becoming more widely accepted and adopted.

The Global South, in particular, is leading the way in Bitcoin adoption. Trade volumes in Africa are continuing to increase, despite the bear market. This is due to Bitcoin’s necessity on the continent, as it provides a cheaper and more efficient way for people to send money back home, make payments, and preserve their wealth. To further this cause, The Built With Bitcoin Foundation opened the Bitcoin Technology Center (BTC) in Kumasi, Ghana, which is set to educate 400 people in its first year.

As Bitcoin continues to grow in popularity and adoption, the divide between it and other assets will become increasingly evident. Bitcoin is backed by human work and has proven its utility and staying power, whereas other assets are backed by nothing more than speculation. As more people become aware of Bitcoin’s use cases and its potential to revolutionize the global economy, we will see an even greater divide in the upcoming year.

It is with great optimism that I look forward to 2023 and the future of Bitcoin. We have the opportunity to educate more people about the cryptocurrency, and to onboard the next billion Bitcoiners. With this, I am confident that Bitcoin will continue to prove its worth and revolutionize the way we think about finance.

Bitcoin en Kunstmatige Intelligentie: Uitdagingen en Mogelijkheden

Kunstmatige intelligentie (AI) en Bitcoin zijn twee gebieden die de afgelopen jaren enorme groei hebben doorgemaakt. Hoewel beide technologieën op verschillende manieren worden gebruikt, hebben ze beide veel potentieel om de toekomst te veranderen. In deze blogpost zullen we dieper ingaan op de relatie tussen de twee. We zullen de impact van Bitcoin op de AI-industrie bespreken, samen met de voor- en nadelen van een toekomst met AI en Bitcoin. We zullen ook kijken naar hoe Bitcoin Code kan helpen bij de integratie van Bitcoin en AI.

Wat is Bitcoin?

Bitcoin is een digitale valuta die wordt gebruikt als een betaalmiddel. Het is ook bekend als een cryptocurrency omdat het gebruikmaakt van een gedecentraliseerd netwerk waardoor transacties anoniem kunnen plaatsvinden. Bitcoin is een open source-software die gebruikers toestaat om geld te verzenden en ontvangen zonder dat zij afhankelijk zijn van derden. Bitcoin is ook een geliefde investering omdat de waarde de afgelopen jaren enorm is gestegen.

Kunstmatige Intelligentie

Kunstmatige intelligentie is een veld van computerwetenschappen dat zich richt op het creëren van intelligente machines die net zo goed of beter kunnen denken dan mensen. AI wordt gebruikt om complexe problemen op te lossen en besluiten te nemen op basis van verzamelde data. AI wordt steeds belangrijker in het dagelijks leven en wordt al gebruikt in vele verschillende sectoren, zoals gezondheidszorg, financiën en zelfs gaming.

De Impact van Bitcoin op Kunstmatige Intelligentie

De komst van Bitcoin heeft de AI-industrie aanzienlijk veranderd. Door het gebruik van blockchain-technologie kan Bitcoin gebruikers transacties laten uitvoeren met een lagere kosten en sneller verwerken dan traditionele financiële instellingen. Deze eigenschappen maken Bitcoin ideaal voor gebruik in AI-toepassingen, zoals het verwerken van grote hoeveelheden gegevens. Daarnaast biedt Bitcoin gebruikers meer controle over hun geld door te voorkomen dat derden toegang krijgen tot hun gegevens.

Hoe verandert Bitcoin de AI-industrie?

Bitcoin heeft de AI-industrie op verschillende manieren veranderd. Ten eerste biedt het gebruikers meer controle over hun geld door te voorkomen dat derden toegang krijgen tot hun gegevens. Ten tweede verlaagt het de transactiekosten door de afwezigheid van tussenpersonen. Ten derde verbetert het de snelheid van transacties doordat het gebruikmaakt van de blockchain-technologie. Ten slotte biedt het gebruikers meer privacy door anonieme transacties te vergemakkelijken.

Het Nadeel van Bitcoin voor AI

Hoewel Bitcoin veel voordelen biedt, heeft het ook enkele nadelen. Ten eerste is de waarde van Bitcoin nog steeds onvoorspelbaar en kunnen gebruikers grote hoeveelheden geld verliezen als de waarde ervan plotseling daalt. Ten tweede is de privacy die Bitcoin biedt niet zo sterk als sommigen denken. Hoewel transacties anoniem zijn, kunnen ze nog steeds worden gevolgd door de blockchain-technologie.

Een Toekomst met AI en Bitcoin

Hoewel er nog steeds veel onzekerheden zijn rondom Bitcoin en AI, zijn er ook veel voordelen. Als de twee technologieën worden gecombineerd, kunnen ze een krachtigere oplossing vormen voor verschillende uitdagingen. AI kan de transacties verwerken die worden uitgevoerd met Bitcoin, waardoor de kosten lager worden en de transacties sneller worden verwerkt. AI kan ook worden gebruikt om de waarde van Bitcoin te voorspellen, waardoor gebruikers beter geïnformeerde beslissingen kunnen nemen.

Hoe kan Bitcoin Code helpen bij de Integratie van Bitcoin en AI?

Bitcoin Code is een wereldwijd leider op het gebied van online trading. Hun platform biedt gebruikers de mogelijkheid om te investeren in Bitcoin, waardoor ze gemakkelijk kunnen profiteren van de stijgende waarde. Met hun kunstmatige intelligentie-algoritme kunnen gebruikers ook voorspellen welke cryptovaluta’s het meest waarschijnlijk winstgevend zullen zijn in de toekomst. Dit systeem geeft gebruikers een voorsprong op andere investeerders.

De Voordelen van Bitcoin en AI

De integratie van Bitcoin en AI biedt veel voordelen. Ten eerste verlaagt het de transactiekosten door de afwezigheid van tussenpersonen. Ten tweede biedt het gebruikers meer controle over hun geld door te voorkomen dat derden toegang krijgen tot hun gegevens. Ten derde biedt het meer privacy door anonieme transacties te vergemakkelijken. Ten slotte geeft het gebruikers de mogelijkheid om voorspellingen te doen over de waarde van Bitcoin, waardoor ze meer geïnformeerde beslissingen kunnen nemen.

Conclusie

De relatie tussen Bitcoin en kunstmatige intelligentie is een complexe en dynamische. Hoewel er nog veel onzekerheden zijn, is er ook veel potentieel voor de twee technologieën. De integratie van Bitcoin en AI biedt gebruikers veel voordelen, waaronder lagere transactiekosten, meer controle over hun geld, meer privacy en de mogelijkheid om voorspellingen te doen over de waarde van Bitcoin. Bitcoin Code´s kunstmatige intelligentie-algoritme kan gebruikers helpen bij het maken van meer geïnformeerde beslissingen, waardoor ze gemakkelijker kunnen profiteren van de stijgende waarde van Bitcoin.

Greenidge Generation Agrees to Restructuring Deal to Reduce Debt

• Greenidge Generation, a bitcoin miner operating in New York, has reached a restructuring agreement with its lender NYDIG to eliminate $57-$68 million of debt.
• The agreement involves NYDIG purchasing 2.8 exahash per second (EH/s) of Greenidge’s bitcoin miners, which Greenidge will host for NYDIG.
• Greenidge has a cash burn rate of approximately $8 million per month, and is expected to run out of money by March 2023.

Greenidge Generation, the bitcoin miner based in New York, recently agreed to a restructuring deal with its lender, NYDIG, to reduce its debt of $74.4 million. The deal provides that NYDIG will purchase 2.8 exahash per second (EH/s) of Greenidge’s bitcoin miners, which Greenidge will host for NYDIG. This will result in the elimination of $57-$68 million of debt, leaving Greenidge with approximately 1.8 EH/s of its own miners. The company will also pledge the rest of its unencumbered assets to secure the remainder of the loan.

The average monthly cash burn rate for Greenidge during October and November of 2022 was approximately $8 million, of which approximately $5.5 million per month was associated with principal and interest payments to NYDIG. This is expected to remain consistent for December 2022 as well.

Unfortunately, the bitcoin mining industry has been taking a hit due to the price of bitcoin dropping while the miners fill up old bull market orders. This has caused Greenidge to sound the alarm regarding their financial standing, as they are burning cash at an unsustainable rate and are predicted to run out of money by March 2023.

The restructuring agreement with NYDIG is a step in the right direction for Greenidge to ensure their longevity, as they will now have access to the resources they need to remain operational. However, they still need to be careful in order to meet the standards of their loan agreement and ensure that they have enough resources to cover the costs of their debt.

Human Rights Foundation Grants $300,000 for Bitcoin Builders Worldwide

• The Human Rights Foundation has announced a new set of Bitcoin Development Fund grants to support builders in the industry worldwide.
• Areas of focus include Latin America, Africa, the Middle East, Eastern Europe, and South Asia.
• Grants include $50,000 to Gleb Naumenko for his work on Bitcoin Core, $50,000 to Furzy for his work on Bitcoin Core, $25,000 to Bitcoin4India, $25,000 to Bitcoin Mountain, $25,000 to We Are All Satoshi project, $25,000 to Tor relay operator associations, and $25,000 to Bitcoin Magazine Ukraine.

The Human Rights Foundation has recently announced a new Bitcoin Development Fund grant program designed to offer support to builders in the industry across the globe. This fund is aimed at providing assistance to those located in Latin America, Africa, the Middle East, Eastern Europe, and South Asia.

The grants come in several forms. For example, $50,000 has been allocated to Gleb Naumenko to fund his work on Bitcoin Core. This work is focused on releasing Coinpool, as well as conducting research on SIGHASH_ANYPREVOUT and Eltoo as potential Bitcoin scaling solutions. Additionally, $50,000 has been granted to Furzy to fund his work on Bitcoin Core, which will focus on stability, security, and performance features.

Other grants include $25,000 to Bitcoin4India for community initiatives and local meetups, education, translation projects, and support of local artisans. Additionally, $25,000 has been granted to Bitcoin Mountain for their work building circular economies, organizing meetups and training in Cameroon.

The fund has also provided $25,000 to the We Are All Satoshi project, an Africa-based organization which aims to identify teenage women and men from all religious backgrounds interested in tech and help steer them to contributing to Bitcoin. This grant will help them create curriculum, organize support networks, and sponsor projects.

Furthermore, $25,000 has been allocated to Tor relay operator associations to improve network reliability and performance, as well as protect against DOS attacks. Finally, $25,000 has been granted to Bitcoin Magazine Ukraine to support regular Bitcoin meetups in Kyiv and produce the first print edition of Bitcoin Magazine Ukraine.

In summary, the Human Rights Foundation has released a new set of grants to support builders in the industry across the globe. Areas of focus include Latin America, Africa, the Middle East, Eastern Europe, and South Asia. These grants include $50,000 for Gleb Naumenko, $50,000 for Furzy, $25,000 for Bitcoin4India, $25,000 for Bitcoin Mountain, $25,000 for We Are All Satoshi project, $25,000 for Tor relay operator associations, and $25,000 for Bitcoin Magazine Ukraine.