Greetings Bitcoiner,

Welcome to issue #111 of the Bitcoin Breakdown, where we are reminded that Bitcoin's early distribution, unlike literally all pretenders to the throne, was uniquely fair, and, coupled with its non-inflationary monetary policy, addresses global inequality at a level no centralized entity could ever dream of.

Happy readings! 👽️

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OPSEC FEATURE ARTICLE

A Private, Open-Source Alternative for Syncing Files Between Devices

The convenience of cloud storage for syncing files across multiple devices is undeniable. However, this convenience often comes at the cost of privacy, data ownership, and control.

Today we analyze a powerful open-source alternative that allows users to sync files privately between their devices without relying on any cloud provider.

Get instant access to this special feature by becoming a premium supporter here.

🏆 FEATURE STORIES

• Chainalysis, a blockchain data analysis firm, releases a report claiming that Russia's recent legalization of bitcoin mining and international payments is a strategic move to evade Western sanctions and lessen reliance on the US dollar amid rising financial pressures (Sept 5 | 9 min read).

• Shinobi of Bitcoin Magazine emphasizes that privacy is essential for Bitcoin's future, warning that without active user adoption of privacy tools like Coinjoins and Chaumian ecash, Bitcoin risks losing its censorship resistance and fundamental freedoms (Sept 4 | 19 min read). 

• Francis Pouliot, founder of Bull Bitcoin, explores a scenario where a Coinbase disaster could lead to a fork instigated by powerful interests who lost their bitcoin, bringing forth ‘BitcoinCucked,’ which node runners would ultimately reject, reinforcing Bitcoin's value and decentralization (Sept 6 | 2 min read).

• Sam Baker of River Financial releases a report covering the business adoption of Bitcoin, which has surged by 30% in just one year, with over 1,000 companies now leveraging Bitcoin for treasury strategies and payments (Sept 4 | 1 hr 30 min read).

• Nicolas Dorier, founder of BTCPay Server, explores the evolution from Blockchain technologies to the rise of ecash, highlighting how digital assets can thrive without a blockchain by leveraging simpler protocols for better user experience and efficiency (Sept 4 | 7 min read).

• Jameson Lopp, founder and chief security officer at Casa, explores the questionable effectiveness of duress wallets as a defense against physical attacks on bitcoin holders, emphasizing the importance of strong privacy and operational security instead (Sept 4 | 5 min read).

• UTXO Research, research arm of BTC Inc, analyzes the evolving landscape of Bitcoin bridges, highlighting trust models, design innovations, and the competition between sidechains and rollups (Sept 4 | 22 min read).

• Carl B. Menger, Bitcoin and Austrian economics educator, elucidates Bitcoin forks, highlighting their role in facilitating innovation within the Bitcoin network (Sept 4 | 8 min read).

• Shift Crypto, the company behind BitBox hardware wallets, analyzes Silent Payments, a Bitcoin improvement proposal that enables reusable static addresses while ensuring privacy through unique public key derivation for each transaction (Sept 5 | 11 min read).

• Fernando Motolese, founder of Praia Bitcoin Jericoacoara, discusses the state of Bitcoin Service Providers and Bitcoin Community Banks worldwide, highlighting the need for integration with accounting systems to enhance adoption (Sept 5 | 3 min read).

• Blockware Solutions, a mining company, publishes a research report analyzing the relationship between Bitcoin's price and network hashrate, highlighting the cyclical nature of both and their impact on Bitcoin mining profitability (Sept 5 | 9 min read).

• Daniel Batten, Bitcoin ESG expert, highlights how, despite Bitcoin's association with ransomware, fiat currencies remain the primary choice for cybercriminals, comprising 99.67% of cybercrime, including data breaches and financial fraud (Sept 3 | 2 min read).

• Andrew R. Chow, author of Cryptomania, explores for Time Magazine how Bitcoin-powered pools and bathhouses, like Bathhouse in NYC, utilize Bitcoin mining for energy efficiency (Sept 4 | 7 min read).

• Jason Deane, a Bitcoin educator, debunks the claim that Bitcoin is a Ponzi scheme, addressing misconceptions by comparing its decentralized nature to traditional scams and emphasizing its potential for a fair global monetary system (Sept 9 | 15 min read).

• Bitcoin News explores the disruptive potential of stablecoins on the Bitcoin Lightning Network via Taproot Assets, highlighting their unique advantages like ultra-fast transactions, low fees, and real-world use cases that enhance global financial inclusion (Sept 9 | 4 min read).

• Brady Noah, writing for What Is Bitcoin?, explores the immense power of Bitcoin, comparing its decentralized mining hashrate to centralized supercomputers like Aurora, while highlighting the network's global reach and potential for financial transformation (Sept 9 | 8 min read).

POLL

OTHER NEWSLETTERS TO CHECK OUT*

*You can find more here.

🛠️ TOOLS & PROJECTS

• RoboSats, a decentralized peer-to-peer Bitcoin exchange using the Lightning Network, releases v0.7.0 with a desktop app for Windows, Mac, and Linux, Nostr-enabled order book, torified Android notifications, and more privacy features.

• Alby Go is a simple mobile Lightning wallet interface and a companion app for Alby Hub users and is now available for testing.

• Orqestra is a regulated tool for Bitcoin business operators that allows them to convert a portion of their sales revenue to bitcoin

• Coinos enhances its free and open-source Bitcoin, Lightning, and Liquid wallet with Nostr integration by adding ecash support through the Cashu protocol.

• Foundation's Passport v2.3.2 introduces ephemeral seed support, message signing via QR code, and Fully Noded integration for enhanced wallet control and flexibility.

• Wasabi Wallet announces they are undergoing a crucial backend server transition due to funding issues, aiming for improved resiliency and cost reduction, while ensuring users can access their funds during the process.

• Live Wallet is an application that helps estimate the effect of bitcoin transaction fees on individual utxos and transactions containing multiple utxos.

• B-ONLY 2024 is an upcoming French Bitcoin conference at the heart of the Alps in Annecy, France.

• bitcoin++, a series of international Bitcoin developer conferences, launches its bi-weekly newsletter, offering updates on projects and events in the Bitcoin developer ecosystem.

• Matt Black, co-founder of Atomic Finance, announces an intermediate workshop that would teach attendees to create and manage Discreet Log Contracts (DLCs) using the Bitcoin Abstraction Layer (BAL), covering wallet setup, oracle announcements, and DLC interactions.

• Nostrify Brazil is crowdfunding a Nostr billboard for cities in Brazil to educate Brazilians about censorship-resistant social media.

💥MEME BREAK

AFFILIATES & REFERRALS

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• Bringin offers a secure platform for buying, selling, and converting Bitcoin to Euros, with direct transfers to bank accounts or virtual debit cards, featuring unique off-ramping options and preventing account freezes with dedicated IBANs for each user.

• Start9 empowers you to run your own Bitcoin node while also joining the sovereign computing paradigm, where concerns over privacy, censorship, hacks, and fees practically disappear—get a 5% discount by using the code: BITCOINBREAKDOWN.

Thank you for reading!

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Until our next transmission,

Naiw

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