• TBD, a subsidiary of Block (formerly Square) has announced c=, a new Lightning Network business.
• The company will use bitcoin from Block’s treasury to make Bitcoin’s Lightning Network more usable and reliable for developers, businesses, and end consumers.
• c= will provide node operators with valuable connections to Lightning, liquidity to enable transactions and collaboration with developers through APIs and services.

TBD Announces New Lightning Network Business: c=

Jack Dorsey’s Block (formerly Square) subsidiary, TBD, has announced the launch of c=—a new Lightning Network business focused on improving usability and reliability of Bitcoin’s second-layer scaling protocol.

Purpose Of The Company

The purpose of the company is to use bitcoin from Block’s treasury in order to make Bitcoin’s Lightning Network more usable and reliable for developers, businesses (such as merchants that accept Lightning payments), and those businesses’ end consumers. It aims to address liquidity shortfalls that can cause transactions to fail by building infrastructure using the bitcoin it is committing to the network so that businesses and wallets can make their Lightning transactions more reliable.

Benefits For Node Operators

For node operators, c= will provide liquidity in order to enable transactions as well as collaborate with developers in order to provide efficient routing and liquidity via APIs and services.

Exploring Decentralized Web Services

Since being renamed into Block in 2022, TBD has been exploring Bitcoin-based decentralized web services including decentralized identifiers (DID), decentralized web nodes etc. With this new entrance into Bitcoin’s second-layer scaling protocol, TBD now has a major presence in lightning infrastructure.

Conclusion

Through c=’s LSP any business or individual running a lightning node can gain efficiencies without relying on an intermediary by making their transactions via Lighting with minimal effort or investment. This move by TBD further proves its commitment towards bridging the old world economy with the new world economy based around open protocols and standards which all participants can benefit from.

Summary

• Sam Bankman-Fried has been indicted with four additional criminal charges, including conspiracy to commit bank fraud and conspiracy to operate an unlicensed money transmitter.
• The U.S. Southern District Court of New York had previously charged SBF with eight counts, including wire fraud, commodities fraud and money laundering.
• Prosecutors are also looking into alleged illegal donations made by SBF, which he utilized others to contribute to political movements.

Background on Sam Bankman-Fried

Sam Bankman-Fried (SBF) is the founder and CEO of the cryptocurrency exchange empire FTX. In December 2020, he was arrested in the Bahamas for his alleged involvement in a large financial failure at FTX. This led prosecutors from the United States Southern District Court of New York to charge him with eight counts – including wire fraud, commodities fraud and money laundering. Now, federal prosecutors have announced a new indictment against SBF with four additional criminal charges.

New Charges Against Sam Bankman-Fried

The document alleging these new charges starts with the claim that “From at least in or about 2019, up to and including in or about November 2022, Samuel Bankman-Fried corrupted the operations of the cryptocurrency companies he founded and controlled.” In addition to the original counts that SBF is facing, prosecutors allege that he is also guilty of conspiracy to commit bank fraud and conspiracy to operate an unlicensed money transmitter. Furthermore, they accuse him of tapping into customer assets in order to provide interest-free capital for his own private expenditures without disclosing this risk to customers. Additionally, they allege that although SBF publicly claimed FTX operated independently from Alameda’s cryptocurrency trading and investments in other companies – this was not actually true due to his design.

Illegal Donations Allegations

In addition to these functional issues with FTX identified by prosecutors, they are now further detailing alleged illegal donations made by SBF which were utilized by others in order for him not be tied personally or through business entities with political movements. According to prosecutors’ documents: “Bankman- Fried caused substantial contributions to be made in support of candidates of both major political parties and across the political spectrum…In those instances when he wanted [his name] not be publicly attached [to Republican candidates], Bankman- Fried directed that contributions be made under another person’s name.”

. The industry is still reeling from both the business impact as well as regulatory scrutiny following Sam Banlkman-Frieed’s arrest last December. His new indictments bring more serious implications as this scandal continues developing over time

• Bitcoiners have inscribed 100,000 pieces of data onto the Bitcoin blockchain using the Ordinals protocol.
• Popular projects on Ordinals include Bitcoin Shrooms, Astral Babes and Bitcoin Punks, with one selling for 9.5 BTC.
• Technical details of Ordinals can be found in a full write-up and podcast episode.

Ordinals Protocol Reaches 100,000 Inscriptions

Five days after reaching 50,000 inscriptions, users employing the Ordinals protocol to embed data on the Bitcoin blockchain have now surpassed 100,000 pieces of data. Since the project’s launch in January 2023, images, audio files and PDFs have been uploaded continuously. This has allowed users to create Non-Fungible Tokens (NFTs) directly on the Bitcoin platform – inheriting all its qualities as a top Layer 1 blockchain.

Popular Projects on Ordinals

Amongst popular projects making use of Ordinals are Bitcoin Shrooms, Astral Babes and Bitcoin Punks – uploads from original Ethereum CryptoPunks which have sold for up to 9.5 BTC apiece (~$215K). These can be explored via an inscriptions explorer. Not only artists but businesses too are utilizing this new wave of NFTs available on Bitcoin’s infrastructure.

Technical Details of Ordinals

A technical write-up detailing how inscriptions work through the Ordinals protocol is available online for those who wish to delve deeper into understanding how it works in practice. Additionally Matt Odell has hosted Casey Rodarmor – creator of this protocol – in an episode of Citadel Dispatch podcast discussing further technical aspects and implications associated with this technology.

Growth in NFT Use

The recent surge in usage seen by this platform is likely attributed to increasing popularity around NFTs and its promise that they may be built directly into a secure and reliable Layer 1 blockchain such as Bitcoin’s own network infrastructure.

Conclusion

The rapid adoption seen by users across industries highlights just how valuable NFTs could become when applied alongside sound technologies like that offered by Ordinal’s protocol built atop a secure base layer like that provided by Bitcoin itself.

• Multisignature security, or “multisig”, offers a different set of security guarantees than single-signature (singlesig) solutions.
• Multisig wallets talk to multiple signing devices and coordinate between them for signing transactions, while singlesig wallets talk to one signer only.
• Multisig can minimize trust in any one entity and is recommended for long-term HODLing where regular transactions are not anticipated.

What Is Multisig?

Multisignature security, or “multisig,” offers a different set of security guarantees than single-signature (singlesig) solutions cannot. It is basically a wallet that can talk to multiple signing devices and coordinate between them for signing transactions (generally using the PSBT format). In comparison, a singlesig wallet talks to one signer only. The singlesig wallet is also often the signer, meaning the keys are hot. An output descriptor or bitcoin secure multisig setup (BSMS) is a format that is used to define the configuration of a multisig.

Advantages Of Using Multisig

The obvious advantages of having multiple signers are to reduce single points of failure and increase redundancy in your setup. With multisig, you can minimize trust in any one entity as multiple entities are involved.

Considerations For Bitcoin Custody

Setting up and using multisig can be operationally more time consuming and include more pitfalls if not done correctly. Therefore, I recommend that users only consider multisig for long-term HODLing, where regular transactions are not anticipated. A robust multi-vendor multisig solution may also incur setup costs depending on your choice provider(s).

Conclusion

In my opinion, anyone holding a non-trivial amount of bitcoin for the long term should evaluate a multisig option over singlesignature solutions due to its enhanced security measures and ability to minimize trust in any single entity. However it should be noted that setting up and using mutlisg requires operational effort and may incur setup costs depending on the provider(s) chosen by users.

Takeaway

Multisiugnatures offer enhanced security measures such as reducing single points of failure and increasing redundancy but come with additional operational efforts required from users compared to singlesignature solutions when setting up custodial services for their Bitcoin holdings

Madeira: A Bitcoiner’s Paradise

• Madeira is a small Portuguese island in the Atlantic Ocean.
• Its warm climate and rich cultural heritage make it a popular tourist destination.
• Pleb Music recently created a documentary showcasing Madeira’s potential for Bitcoin adoption.

What is Madeira?

Madeira is an autonomous region of Portugal, located 600 miles off the coast in the Atlantic Ocean. It has become a popular tourist destination thanks to its temperate climate, Instagram-worthy landscapes, and unique culture. The island relies heavily on tourism for economic stability, as well as remittances from Madeirans living abroad and trade through its ports. In recent years, ecotourism and digital nomads have been encouraged to diversify tourism on the island during low season months.

Why Did Pleb Music Create a Documentary?

Pleb Music (aka Max DeMarco) visited Madeira this summer to highlight its potential as a base for Bitcoin adoption. With help from @Cinemuck_’s talented videography, they created an insightful documentary with sweeping drone shots and captivating storytelling techniques. This was done with the intention of introducing Bitcoiners to this peaceful oasis in the Atlantic Ocean – adding it to any traveler’s list of must-visit locations.

What Can You Find on Madeira?

As well as its stunning scenery and rich culture, visitors can experience delicious local delicacies such as espetada (a type of kebab), steak, and fish dishes. There are direct flights to New York available from Madeira’s airport, while low-cost airlines connect passengers with several European cities.

Conclusion

Madeira is quickly becoming one of Europe’s best-kept secrets – offering tourists incredible natural beauty combined with traditional charm and modern amenities like easy access to global currencies like Bitcoin! Whether you’re looking for restful relaxation or exciting exploration opportunities, this tiny island will be sure to exceed expectations!

• ZEBEDEE and VIKER have announced the launch of two additional Bitcoin-powered games: Bitcoin Chess (iOS/Android) and Bitcoin Scratch (iOS/Android).
• Players can earn a few cents per session with these games, which is made possible by revenue sharing.
• The two firms are already preparing for their next launch, which will be a well-known franchise added to their portfolio.

ZEBEDEE and VIKER Launch Two Additional Bitcoin Games

ZEBEDEE and VIKER, both firms in the gaming industry, have launched two more bitcoin-powered games: Bitcoin Chess (iOS & Android) and Bitcoin Scratch (iOS & Android). Both are available now on the respective app stores.

Earn Money Playing Games

Players can earn a few cents per session while playing these games through revenue sharing. This creates an engaging experience for players that leads to better retention, ultimately making the game more profitable despite the revenue share. Dan Beasley, co-founder of VIKER said that implementing rewards with ZEBEDEE’s platform is about creating an interesting and fun experience. Ben Cousens, Chief Strategy Officer at ZEBEDEE explained that they weren’t targeting solely Bitcoiners as their audience.

Upcoming Launch

The two gaming firms have already started prepping for their next launch which will include adding a very well-known franchise to their portfolio. This game will also feature earning rewards with ZEBEDEE’s platform in order to create an entertaining experience for players.

Sustainability

The sustainability of providing bitcoin to players who play the game lies in splitting what they earn from the game with the player – this way it creates an enjoyable experience for players without having to provide large amounts of money each time they play.

Conclusion

In conclusion, ZEBEDEE and VIKER have released two new bitcoin powered games allowing players to earn tiny rewards while playing them without having to provide large amounts of money each time they play – making it sustainable longterm. They are also prepping for another upcoming launch featuring a well known franchise as part of their portfolio where players will be able to earn even more rewards when playing it!

• Julia moved to Portugal from Germany when she was 19 years old and eventually settled there.
• Julia started a homestead that feeds her family and also started a Bitcoin meetup in her local community.
• Julia talks about how both Bitcoin and homesteading require high upfront investment and very low time preference.

Julia is a German expat who has found a home in the southern region of Portugal. She has established a homestead that provides for her family and has become an advocate for Bitcoin in her local community.

Julia’s journey to Portugal began when she was 19 years old. She was looking for a way to travel and found an opportunity to work in the country for three months. She quickly fell in love with Portugal and decided to stay, eventually bringing her parents and brothers over to join her.

Julia has been living in Portugal for over a decade and has made a life for herself there. She has started a homestead on the land she lives on and is able to grow enough food to feed her family. She has also become a champion of Bitcoin in her local community, hosting meetups and educating others on the cryptocurrency.

Julia has found that both Bitcoin and homesteading require a high upfront investment and very low time preference. They both are hard work, but the end result is worth it. She believes that the same principles that apply to her homestead are also applicable to Bitcoin and other cryptocurrencies.

Julia is an inspiration to all who want to pursue their dreams and make the world a better place. Her story shows the power of dedication and hard work, and her commitment to her local community and Bitcoin are a testament to her spirit.

• The Senate recently introduced the Digital Asset Anti-Money Laundering Act of 2022, which contains KYC laws for self-custody wallets and money-transmitter licensing requirements.
• The European Central Bank recently revealed that Bitcoin is on an “artificially induced last gasp before the road to irrelevance.”
• The Senate Banking Committee hearing is just the beginning of the “then they fight you stage” and it will only get worse in 2023.

The United States Senate recently introduced a bill aimed at curbing the use of cryptocurrencies and digital assets in illegal activities. The Digital Asset Anti-Money Laundering Act of 2022 contains several provisions, most notably the requirement of KYC laws for self-custody wallets and money-transmitter licensing requirements. The bill has received significant criticism from the cryptocurrency community, as it could be seen as a direct attack on the freedom and security of digital asset users.

The bill comes on the heels of the European Central Bank’s (ECB) recent announcement that Bitcoin is on an “artificially induced last gasp before the road to irrelevance.” The statement has been met with criticism from the crypto community, as the bank’s comments appear to be a baseless attempt to discredit the asset class. The ECB’s announcement was followed by a statement from an official that the bank is considering a ban on Bitcoin and other cryptocurrencies in order to mitigate environmental damage.

This news has been met with a wave of opposition from the crypto community, and a recent Senate Banking Committee hearing has been the latest example of the divide between those who support and oppose cryptocurrency. The hearing, which was titled “Examining the Digital Dollar and Other Digital Assets”, featured testimony from both supporters and opponents of the asset class. The testimony highlighted the potential benefits and drawbacks of cryptocurrency and digital assets.

It appears that the U.S. Senate is entering the “then they fight you stage” of cryptocurrency adoption. While a ban and most of the regulations proposed would be extremely difficult to enforce, they could still serve as a significant speed bump to widespread adoption. The crypto community is advised to stay vigilant and pay attention to governmentally-elected representatives, just like what happened with the infrastructure bill in 2021. With the energy crisis in Europe deepening, it’s unclear how the situation will play out. It is important for crypto supporters to remain active and vocal in order to ensure that the asset class is not unfairly targeted or regulated.

• In 1889, Puerto Rico suffered a 40% currency devaluation, due to the United States setting up the American Colonial Bank and declaring the U.S. dollar as legal tender.
• This devaluation caused Puerto Ricans to attempt to save their net worths, by borrowing money from the American Colonial Bank.
• High interest rates made it very unlikely that locals were going to be able to pay back their loans, so the bank seized their assets.

Puerto Rico has seen it all, from currency devaluations, confiscation of wealth, natural disasters, colonizers and fights for independence all in less than 100 years. Before that, Pedro Albizu Campos fought for Puerto Rico to have its own identity, its own independence and its own sovereignty. But now the world has a decentralized money that can provide Puerto Rico with the independence and identity that it has been starved for and deserves.

In 1889, Puerto Rico suffered a 40% currency devaluation, crippling the Puerto Rican economy. This was caused by the United States setting up the American Colonial Bank and declaring the U.S. dollar as legal tender (the official money) of Puerto Rico, changing it from the peso. This devaluation caused Puerto Ricans to attempt to save their net worths, by borrowing money from the American Colonial Bank. However, high interest rates made it very unlikely that locals were going to be able to pay back their loans, so the bank seized their assets (in these days, typically their land).

This financial disaster was a shock for Puerto Ricans. In 1899, one peso was only worth 60 cents, meaning the local businesses of Puerto Rico and its citizens lost 40% of their net worths overnight from causes totally outside of their control. The citizens of Puerto Rico had no say in the matter and were helpless against the economic disaster that befell them.

Today, the citizens of Puerto Rico are still vulnerable to the same kind of situation. The island uses the U.S. dollar as its legal tender and is vulnerable to the decisions of the U.S. central bank. This chart represents all of the dollars in the U.S. and Puerto Rican economy.

Bitcoin, however, offers a different path. It is a decentralized currency that is not tied to any one country or its central bank. This means that citizens of Puerto Rico can use it to store their wealth in a way that is not impacted by the decisions of the U.S. central bank. In addition, Bitcoin can be used to send money around the world quickly and securely, with no need for intermediaries.

Bitcoin has the potential to give Puerto Ricans the independence and identity that they have been starved for and deserve. It can also provide a way for Puerto Ricans to store their wealth without worrying about devaluations, or the confiscation of wealth by a central bank. With Bitcoin, Puerto Ricans can have the freedom and autonomy to control their own financial destiny.