Welcome to the Bitcoin Street Journal, Bitcoin
Market Update podcast, your daily source for
live updates on the Bitcoin market. Join us as
we delve into current Bitcoin technical analysis,
track Bitcoin, BTC prices, explore market capitalization
trends, and analyze market supply. Stay ahead
of the curve with our comprehensive coverage
of the ever evolving world of Bitcoin. In today's
episode, we'll cover Bitcoin balances on centralized
exchanges declining, German ATMs shutting down
due to ongoing attacks, a rise in crypto -jacking
attacks, Solana's impact on blockchain games,
stablecoins rated by Bluechip, AI advancements
in healthcare and art, and recent developments
in the cryptocurrency industry, including SEC's
request to delist assets from Coinbase. Hey there!
Let's talk about some interesting things happening
in the world of Bitcoin. Did you know that Bitcoin
balances on centralized exchanges are actually
declining? It's true. In fact, the levels we're
seeing now haven't been seen since the beginning
of 2018. That's a significant drop, with only
2 .1 million BTC, which is about 11 % of the
circulating supply, left on these exchanges.
And here's another fascinating statistic. Out
of the 4729 days since Bitcoin's creation, a
whopping 4167 of those days have been profitable
for Bitcoin holders. That means a staggering
88 .1 % of the time anyone holding BTC has been
making a profit. Not too shabby, right? But let's
take a step back and think about the bigger picture.
We work hard to secure a better future for ourselves.
But it can often feel like the government and
bankers are working against us. They have the
power to create money out of thin air while we're
left struggling to keep up. Is that fair? Many
would argue it's not. That's where Bitcoin comes
in. It offers an alternative to this madness.
By embracing Bitcoin, you can opt out of the
traditional financial system and take control
of your own wealth. It's like breaking free from
the matrix, just like those independent thinkers,
hackers and people who question the establishment.
As Adam Back, the CEO of Blockstream once said,
Bitcoin is like the matrix. The people who unplugged
were the independent thinkers, hackers, and people
who had a reason to be suspicious of establishment.
In recent news, CNBC reported on the upcoming
Bitcoin halving. This is a technical event that
typically marks the start of a bull run for Bitcoin.
So if you're a bull, get ready for some exciting
times ahead. Speaking of exciting times, Mark
Yusko, the founder and CEO of Morgan Creek Capital
Management, predicts that Bitcoin will reach
a staggering $300k by the 2028 halving. That's
quite the bold prediction, and it's certainly
something to keep an eye on. But Bitcoin isn't
just for the financial experts and tech enthusiasts.
Even celebrities are getting in on the action.
Margot Robbie, the actress, revealed that her
husband talks about Bitcoin so much that she
jokingly calls it being a ken. It seems like
Bitcoin is permeating every aspect of our lives,
including Hollywood. Let's take a moment to acknowledge
the incredible impact that Bitcoin has had since
its inception. Thirteen years ago, Satoshi Nakamoto
dropped a line that will forever remain in Bitcoin
lore. It's incredible to think about the journey
Bitcoin has taken since then and how it has revolutionized
the world of finance. In a recent development,
the Human Rights Foundation launched 10 Bitcoin
bounty challenges to foster innovation in transactional
privacy, censorship resistance, and self -sovereignty.
This initiative highlights the potential of Bitcoin
to empower individuals and promote human rights.
In other news, there have been reports of Twitter
accounts being hacked, so it's essential to be
cautious and not engage with suspicious accounts.
Always be wary of scammers trying to take advantage
of unsuspecting individuals. Let's pivot to take
a look at some data. We've got 14 years worth
of Bitcoin inflation rate data to explore. It's
fascinating to analyze the trends and see how
Bitcoin has evolved over the years. It's a testament
to its enduring strength and resilience in the
world of finance. Looking to the future, Samson
Moe, CEO of Blockstream, expects hyper Bitcoinization
to occur within the next 10 years. That's a pretty
bold statement. He believes that we'll see a
wave of adoption in the next five years, leading
to a complete transformation of the financial
landscape within a decade. Exciting times ahead.
Now let's end on a lighter note. There's a little
joke making the rounds in the crypto community.
It goes something like this. A vixen goes up
to a lioness and brags about all the tokens she
has in her metamask wallet. The lioness responds
by saying she only has one, but that one happens
to be Bitcoin. It's a fun reminder that Bitcoin,
as the king of cryptocurrencies, holds a special
place in the hearts of many. In recent news,
the former president of PayPal announced their
commitment to building on Bitcoin's lightning
network. They're determined to realize the network's
fullest potential and provide the world with
a universal open protocol for payments. This
kind of support from big players is a significant
step forward for Bitcoin and its overall adoption.
And finally, legendary trader Peter Brandt believes
that Bitcoin will be at the top of the food chain.
According to him, that's the only thing that
matters. As Bitcoin continues to grow and evolve,
it's becoming increasingly clear that it has
the potential to reshape the world of finance.
Well, that's all from me for now. It's been great
sharing these exciting updates and insights about
Bitcoin with you. Stay tuned for more fascinating
developments in the world of cryptocurrencies.
Did you hear the news? German ATMs are shutting
down because of ongoing attacks by criminals.
They've put up signs saying cash withdrawal is
not possible until further notice. It's quite
a problem, but you know what? Bitcoin might just
have the solution. And that's not all. Over in
Mexico, a senator named Kempis is really excited
about Bitcoin. He's even invited a lightning
payments company called IBEX to the Senate of
Mexico. He believes that Mexico can lead the
way in Bitcoin adoption throughout Latin America.
Talk about making a statement. But it's not just
about ATMs and senators. There's some interesting
stuff happening in the United States, too. You
won't believe it, but a picture of a memorandum
has surfaced. It seems that Major General Jason
Lowery received an order to stop the publication
of a book called Software. Could it be that they're
afraid of what people might do if they fully
understood Bitcoin? It certainly seems that way.
In other news, did you know that Henry Ford actually
predicted Bitcoin 100 years ago? He envisioned
a future where energy currency replaced gold
and wars would come to an end. Pretty mind blowing,
right? And let's not forget about the incredible
transaction volume on the Bitcoin network. It
has settled over $110 trillion in transactions.
That's a whole lot of financial activity happening
on the blockchain. Oh, and here's a fun fact.
The elliptic curve used by Bitcoin for its public
key cryptography is called SECP256K1. Every point
on this curve is a valid Bitcoin public key.
Pretty cool, huh? There's so much happening in
the world of cryptocurrencies. From regulatory
warnings to new partnerships, the news just keeps
coming. But hey, that's what makes the crypto
space so exciting. Hey there, let's dive into
some interesting news from the crypto world.
According to a report from Sonic Wall, crypto
jacking attacks have skyrocketed by a whopping
400 % in the first half of 2023. That's quite
alarming. It seems like bad actors are finding
new ways to exploit digital currencies. In other
news, Binance Research has revealed that the
tokenized treasury market is now valued at over
$600 million. It's fascinating to see how digital
assets are being leveraged in this space. But
not everything in the crypto world is smooth
sailing. The hacker behind Curve Finance has
returned $5 .4 million in stolen funds. But unfortunately,
the CRV token has taken a hit, dumping about
15 percent. Ups and downs, right? On the brighter
side, Bitcoin SV, BSV, has been on a roll, soaring
11 percent daily. And Bitcoin, BTC, has also
seen a bounce off at $1 .29K, which is great
news for its supporters. In regulatory news,
it appears that the Securities and Exchange Commission,
SEC, had reportedly wanted Coinbase to delist
all crypto assets, except Bitcoin, before the
recent lawsuit. Interesting, right? Moving away
from cryptocurrencies, the British Museum plans
to enter the metaverse using the Sandbox, an
Ethereum -based platform. They aim to establish
an interactive space within the virtual world
and offer NFT collectibles. It's exciting to
see institutions exploring this new realm. That's
all for now. Stay tuned for more updates on the
growing crypto industry. Hey there, let's dive
into some interesting news in the cryptocurrency
world. Solana, a promising blockchain platform,
is aiming to lead the charge in crypto gaming.
The Solana Foundation recently shared its strategy
to reshape the narrative around blockchain games
at the Plague event. It's exciting to see their
efforts to bring innovation to this space. In
other news, EveryRealm, a metaverse company backed
by Paris Hilton, has settled sexual harassment
lawsuits filed by former director -level executives
and a product manager. It's crucial for companies
in this space to prioritize a safe and respectful
work environment. Speaking of stablecoins, Bluechip,
a nonprofit rating agency, has released its assessment
of top stablecoins like Tether, DAI, and Binance's
Bust. It's interesting to see how these stablecoins
are earning their reputations in the market.
Crypto prices had a slow week due to the Federal
Reserve's interest rate hike, which reached its
highest level in 22 years. However, as the market
goes through ups and downs, the community keeps
innovating. Opera, for example, has introduced
an AI -powered tool that automatically changes
your browser history after you pass away, making
good on the popular meme, if I die, delete my
browser history. Luxury brand Gucci is venturing
into the world of Web3 by revealing rewards for
holders of their vault material NFTs. It's great
to see brands exploring the potential of blockchain
technology and engaging with the crypto community.
On the art front, AI artist Greg Rutkowski has
gained popularity among AI artists, even surpassing
the likes of Picasso and Da Vinci. Rutkowski
opted out of the stable diffusion training set,
and the community has created a loop of Rutkowski
AI, LoRa, to replicate his art style. The Human
Rights Foundation is supporting a bug bounty
initiative with Bitcoin, aiming to accelerate
the development of features desired by global
activists. It's fascinating to witness the intersection
of technology and human rights. In the healthcare
sector, AI is proving its potential by identifying
signs of disease in MRI scans that doctors might
miss. Twin Health, focusing on metabolic diseases,
is making strides in this area, particularly
in diabetes, high blood pressure, and obesity.
Utopia Labs, led by price -a -dayed Yabacy, recently
raised $23 million to democratize access to financial
instruments. The team is transitioning from decentralized
autonomous organizations, DAOs, to building payment
tools for marginalized communities. Baron Davis,
a renowned NBA star, believes that teams can
be better run by fans than by elites. He hopes
to prove this through a new decentralized autonomous
organization, Diao -run professional sailing
team. It will be interesting to see how this
experiment unfolds. Moving on to legal matters,
Sam Bankman -Fried, the founder of FTX and Alameda
Research, is facing the possibility of bail revocation
due to allegations of witness tampering and leaking
his diary. Federal prosecutors argue that no
release conditions will ensure community safety.
Sam Altman, founder of OpenAI and Worldcoin,
recently shared footage of people queuing up
to have their eyeballs scanned for crypto. It's
intriguing to see the convergence of human behavior
and technology. Unfortunately, the decentralized
finance, DeFi Space, was hit by another security
breach. Attackers managed to steal $24 million
from several DeFi projects through exploits in
the curve pool. which may be rooted in vulnerabilities
in the Viper programming language. In a bizarre
turn of events, George Santos, a U .S. representative,
allegedly pitched a crypto deal resembling the
infamous Nigerian Prince email scam to a donor.
Trust and credibility are crucial in the crypto
space, and incidents like these undermine public
confidence. As artificial intelligence advances,
researchers are grappling with challenges such
as catastrophic forgetting, which could impact
applications like self -driving cars. It's essential
to ensure that AI systems continue to learn and
adapt in a way that mirrors human cognition.
Meme coins have been all the rage lately with
coins like Bald, coin, and base driving activity
on Coinbase's new Ethereum Layer 2 network called
Base. It's fascinating to see how meme culture
is influencing the crypto world. Lastly, Curve
Finance, a popular decentralized finance exchange,
confirmed that various Ethereum pools were hacked
due to a vulnerability in the Viper programming
language. Security remains a top priority in
the DeFi space, and incidents like these highlight
the need for constant vigilance. That's all the
news for now. Stay tuned for more exciting updates
in the world of cryptocurrency. In today's episode,
we discussed the decline of Bitcoin balances
on centralized exchanges, the increase in crypto
jacking attacks, Solana's impact on blockchain
games, and the SEC's request for Coinbase to
delist assets except Bitcoin. Thanks for listening.
I'll see you guys at the next one and don't forget
to subscribe.