Greetings Bitcoiner,

Welcome to issue #102 of the Bitcoin Breakdown, where you can still enjoy a free one-month membership trial by choosing the monthly option here.

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⚡️ QUICK BITS

• Fedi launches Bitcoin 'super app' for secure transactions, private messaging, and social media with community custody and support for nonprofit initiatives.

• Peter Schiff unintentionally highlights Bitcoin’s strengths as an investment by criticizing Bitcoin ETFs.

• USABTC proposes a Bitcoin tax-free Digital Economic Zone to boost the US economy, aiming to attract investors.

• Bitcoin addresses holding over 0.1 BTC nears ATH despite price dip, with 4,580,424 addresses, just below the record of 4,586,540.

• Bitcoin's volatility surges to a 20-month-high, prompting traders to hedge against potential further declines.

• Dark Skippy enables malicious Bitcoin signing devices to exfiltrate secret keys through transaction signatures using compromised firmware.

• Xapo Bank launches interest-bearing bitcoin accounts in the UK after successfully passporting its banking license from Gibraltar.

• Cory Klippsten, CEO of Swan Bitcoin, announces that they are cancelling the Pacific Bitcoin conference, offering refunds and a complimentary invite to a smaller event on October 17.

• Arkham Intelligence, the pay-to-snitch surveillance firm that aims to 'deanonymize the blockchain', obscures the sales of its own ARKM sh!tcoin.

• Richard Greaser, a 'credentialed' investigative journalist for the satirical news site The Bitcoin Bugle, successfully trolls the Bitcoin development mailing List with a 'HODL Tax Proposal.'

• Bitcoin solidifies its market leadership with a 58% dominance (inclusive of POS crap) in the crypto market amidst a sharp correction.

• The Crypto Fear & Greed Index tips into the 'Extreme Fear' zone for the first time in two years, as spot Bitcoin ETFs in the US reported outflows of $168.4 million on Aug. 5.

• Galaxy Research publishes report saying that the majority of Bitcoin layer-2s could face long-term sustainability issues due to high operational costs.

• Core Scientific expands data centers with CoreWeave deal, boosting infrastructure by 112 megawatts and projected $6.7B in revenue; stock climbs 12%.

• CleanSpark expands its Bitcoin mining operations in Wyoming and Tennessee, enhancing capacity and positioning itself as a leading US miner.

• Block Inc reports 9% growth in Bitcoin revenue to $2.61B for Q2 2024, supporting overall net revenues of $6.16B.

• Donald Trump warns Biden administration against selling Bitcoin and emphasizes the need for US innovation in the digital asset sector to compete globally.

• Capula Management invests nearly $500M in Bitcoin ETFs, joining other hedge funds in expanding Bitcoin exposure.

• Thailand Bitcoin Conference 2024 is set to take place on September 14-15, 2024 in Bangkok, Thailand.

• Metaplanet Inc allocates 8.5B yen (approximately $58.76M) to buy Bitcoin.

• Michael Saylor says BTC strategic reserve is a ‘Louisiana Purchase’ moment for US.

• Marathon Digital increased their Bitcoin holdings by $124M in July.

• European Securities and Markets Authority details how It classifies unlawful overseas businesses under MiCA.

• Bitcoin Act of 2024, introduced by Senator Lummis received 2,200 support letters, as the bill is referred to the Senate Banking Committee.

• Morgan Stanley now allows its 15,000 wealth management advisors to offer Bitcoin ETFs to select clients starting Wednesday. 

• Kamala Harris, selects Minnesota Governor Tim Walz, who has shown support for stricter crypto regulations, as her 2024 running mate.

• ITAU Paraguay bank has decided to start offering Bitcoin services.

• Pierre Rochard of Riot outlines a strategic Bitcoin reserve plan to alleviate the national debt of the US and boost the country's economy.

POLL

AFFILIATES & REFERRALS

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• 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.

🎥 QUICK MEDIA

• Mike Jarmuz of Lightning Ventures announces Thunder Funder, the next iteration of Lightning Ventures, which allows nearly anyone to invest in early-stage Bitcoin companies with low minimums and real equity stakes (Aug 05 | 06:42 min watch).

• Fedi explains their recently launched community superapp in a video (Aug 06 | 28:19 min watch).

• Michael Saylor, goes on Bloomberg Today and saying he hasn't sold and that he continues to acquire more Bitcoin (Aug 07 | 08:54 min watch).

• Matt Hill of Start9 Labs highlights the complacency among some Bitcoiners, emphasizing that existing power structures will never passively accept a disruptive technology like Bitcoin (Aug 02 | 02:57 min watch).

• Alex Bergeron, Carman and NVK discuss the friction caused by the incompatibility between LNURL and BOLT12 in the Lightning Network space (Aug 01 | 3:48 min watch).

• Michael Saylor says that you will spend 40,000 hours of your life trying to make money, so it's worthwhile to spend 100 hours figuring out how to keep it (Aug 01 | 0:13 watch).

• Jack Mallers comments on the recent dip by saying that Bitcoin isn’t hedging the broken financial system, it's replacing it (Aug 06 | 00:53 min watch).

• Ben Justman explains on BTC Sessions why Bitcoin-Only is the ultimate choice for building long-term brand value (Aug 07 | 06:36 min watch).

• Matthew Krater of Bitcoin University discusses how it's likely that the US government and Federal Reserve may use a private company like Tether to issue and control the equivalent of a CBDC (Aug 01 | 11:16 watch).

• River, a Bitcoin-only exchange, publishes a video that asks 'Why does Bitcoin have value?' (Aug 02 | 02:38 min watch).

• Alex Bergeron, NVK and Craig Raw discuss ways to prevent small UTXOs from being useless due to miner fees outweighing the UTXO (Aug 03 | 04:53 min watch).

💥MEME BREAK

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