• Julia is a German who moved to Portugal in her late teens and eventually settled down with her family.
• We discussed her local Bitcoin meetup, her homestead, and the work and investment required to maintain both.
• I found many parallels between Julia’s Bitcoin and homesteading stories which I heard from homesteaders and farmers in the US this summer.

Julia is a German who moved to Portugal in her late teens and eventually settled down with her family. She moved to Portugal with the intention of traveling, yet quickly found a full-time job and decided to stay. I recently had the pleasure of speaking with her from her home in Southern Portugal about her homestead, local community, and Bitcoin.

When I asked Julia about her backstory, she explained that she had always wanted to travel, so she looked for jobs in Portugal. She found a job, but soon after she was offered a full-time position and decided to stay. Her parents and brothers soon followed, and now the entire family lives in Portugal.

We then discussed her local Bitcoin meetup, her homestead, and the work and investment required to maintain both. Julia explained that the Bitcoin meetup in her local community has grown significantly over the years and has become a community of like-minded individuals interested in learning more about cryptocurrency. She also spoke of the hard work that goes into maintaining her homestead, which feeds her family. Julia shared that both Bitcoin and homesteading require a high upfront investment and a low time preference.

Throughout our conversation, I found many parallels between Julia’s Bitcoin and homesteading stories which I heard from homesteaders and farmers in the US this summer. Julia’s experiences are similar to the stories of many homesteaders and farmers I encountered in my travels. It’s clear that the work and dedication required to understand and work on Bitcoin and a farm can be immense, yet incredibly rewarding.

I found my conversation with Julia to be incredibly insightful, and it was a pleasure to learn more about her homestead, local community, and Bitcoin. I’m sure her story will resonate with many homesteaders and farmers alike.

• Fedi is launching a Bitcoin hackathon that will pay out 2.1 BTC to the winner in celebration of Bitcoin’s 14th birthday.
• The bounty is open ended, meaning that developers can code the functionality they want.
• Fedimint is an open source custody platform that allows users to not only store their bitcoin, but also extend the functionality of their bitcoin with privacy, smart contracts, and more.

Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon in celebration of Bitcoin’s 14th birthday. The hackathon will have a bounty of 2.1 BTC, which will be given to the winner. The bounty 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.

Fedimint is an open source custody platform that allows users to not only store their bitcoin, but also extend the functionality of their bitcoin 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.

“At Fedi, we believe that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet,” said Obi Nwosu, Fedi CEO, in a statement sent to Bitcoin Magazine. “Bitcoin was created to be a new way of doing things, and we want to encourage developers to build out solutions that utilize this technology to bring real world benefits to users. That’s why we’re launching this hackathon and offering such a large bounty. We want to reward developers for their hard work and innovation, and we hope this will be an incentive for more developers to get involved.”

The hackathon is open to all developers and will run from now until February 14th, 2021. Developers can submit their solutions via the Fedimint Github page, where the team will review solutions and award the bounty. The team encourages developers to get creative and think outside the box when it comes to ideas.

Fedi hopes that this hackathon will be a great way to celebrate Bitcoin’s birthday and encourage developers to build out solutions that will bring real world benefits to users. With the large bounty being offered, Fedi is sure to get an influx of creative solutions that will make a difference.

• Bitcoin had a defining year in 2022 and is set to have an even bigger year in 2023.
• The Global South will continue to lead Bitcoin adoption, with growth seen in countries such as Ghana and Nigeria.
• The divide between Bitcoin and other digital assets will grow as Bitcoin’s use cases become more recognized.

Bitcoin had a defining year in 2022, and as we look ahead to 2023, the potential for further growth is immense. With the rise of the digital economy, people are increasingly turning to Bitcoin to fill a gap that traditional financial systems are failing to address. Not only is Bitcoin a more efficient and cost-effective solution for sending money and making payments, but also it is a way to preserve wealth and make it accessible to more people.

The Global South is leading the way in Bitcoin adoption, with countries such as Ghana and Nigeria seeing significant growth in trade volume. This is due to the necessity of Bitcoin in these areas, as it offers a cheaper and more efficient way to send money home, make payments, and preserve wealth. The Built With Bitcoin Foundation is helping to facilitate this growth by opening the Bitcoin Technology Center in Kumasi, Ghana, which is set to educate 400 people in its first year.

Furthermore, the divide between Bitcoin and other digital assets is set to grow even further as the use cases of Bitcoin become more widely recognized. Bitcoin is backed by human work, and it has proven its unique ability to cut through the dead weight of speculation and provide a secure, reliable form of digital money. This, coupled with its global reach, makes it an attractive option for those who want to join the digital economy.

As we move into 2023, it is clear that Bitcoin is here to stay. We look forward to seeing the impact it has on the global economy and the way it continues to transform the financial landscape. With the right investments and education, Bitcoin has the potential to bring financial inclusion to billions more people and further level the playing field for all.

Bullet Points:
– Bitcoin reduces administrative bloat by eliminating the need for auditing and verifying wealth transfers.
– Bitcoin can be used to cheaply and securely transfer money across the globe, and can potentially provide higher yield returns than treasury bonds.
– Bitcoin is expected to become a secure store of wealth as its market capitalization grows, and could eventually make gold and treasury bonds obsolete.

Article:

The digital currency Bitcoin has been making waves in the financial world and beyond, with its proponents claiming that it has the potential to revolutionize the way the world’s finances are conducted. Some of the most prominent claims regarding Bitcoin revolve around its ability to reduce administrative bloat, cheaply transfer large sums of wealth across the globe, and act as a secure store of wealth. These potential benefits have been accepted and recognized by many, with Charlie Munger, a prominent investor, even going as far as to state that the whole development of Bitcoin is “disgusting and contrary to the interests of civilization”.

In order to understand the potential benefits of Bitcoin, it is essential to first look at how it reduces administrative bloat. By making the ledger public, much of the work needed to verify and audit wealth transfers is eliminated, as the information is all out in the open, and therefore easily auditable. This is a major advantage over traditional banking systems, which require extensive paperwork, and can be subject to fraud and manipulation.

Another major advantage of Bitcoin is its ability to cheaply and securely transfer money across the globe. This is especially beneficial for those who need to transfer money to remote locations, as the fees associated with traditional banking systems can be prohibitively expensive at times. Furthermore, Bitcoin is expected to eventually provide higher yield returns than treasury bonds. This is because the real return on bonds is always lower than the nominal expectation, and Bitcoin’s volatility is expected to decrease over time as its market capitalization increases.

Finally, Bitcoin is expected to become a secure store of wealth as its market capitalization grows. This is because the colossal amount of computing power that powers Bitcoin and the manner in which it is distributed across several jurisdictions ensure that Bitcoin’s network and ledger are incorruptible. As a result, many believe that Bitcoin could eventually make gold and treasury bonds obsolete, as its contribution to civilization is expected to be so significant.

Ultimately, it is clear that Bitcoin has the potential to revolutionize the way the world’s finances are conducted, and while it is understandable why some may be hesitant to accept this new technology, it is also important to recognize the potential benefits it could bring to civilization. As such, it is clear that Bitcoin has the potential to be a major force for good, and its potential should not be overlooked.

• Greenidge Generation, a bitcoin miner operating in New York, has reached a restructuring agreement with its lender, NYDIG, for its $74.4 million debt.
• The agreement involves NYDIG purchasing 2.8 exahash per second (EH/s) of Greenidge’s bitcoin miners and eliminating $57-$68 million of debt for the mining firm.
• Greenidge has an average monthly cash burn rate of $8 million, with $5.5 million of that being associated with principal and interest payments to NYDIG.

Greenidge Generation, a bitcoin miner operating in New York, has recently come to a restructuring agreement with its lender, NYDIG, in order to address its $74.4 million debt. The agreement involves NYDIG purchasing 2.8 exahash per second (EH/s) of Greenidge’s bitcoin miners, which will eliminate $57-$68 million of the debt. This leaves Greenidge with approximately 1.8 EH/s of its own miners, with the rest of its unencumbered assets needing to be pledged to secure the remainder of the loan.

The financial burden has been weighing heavily on Greenidge, with an average monthly cash burn rate of $8 million, with $5.5 million of that being associated with principal and interest payments to NYDIG. This has been causing alarm for the company, indicating that at the current rate, it will be out of money by March 2023. Other miners have been in a similar situation, facing old bull market orders fulfilled and new hash rate contributions, while the price of cryptocurrency held by the miners continues to plummet.

The restructuring agreement is a major step forward for Greenidge to be able to continue operating. It provides the company with a chance to focus on its long-term goals, and will help ensure that it can continue to provide reliable services to its customers and stakeholders. With the new agreement in place, Greenidge can continue to be an industry leader in bitcoin mining, while also providing a much-needed financial reprieve.