Tribe Vibe - The Freedom Edition

Nov 07, 2023

∙ Paid

Hello Tribe Vibers! 🌟Happy November!

Welcome to another exciting week in Bitcoin! Coming up:

1. FedNow

The Scoop:🕵️‍♀️ The Fed has threatened to sue Bitcoin Magazine over their apparel 👕 which parodies the FedNow, alleging copyright infringement.
Why you should care: The Federal Reserve's cease and desist demand was universally received with derision, especially from Bitcoin Magazine's legal team. The consensus among media experts and Bitcoin scholars is clear: they interpret the Fed's move as a display of deep-seated vulnerability. It underscores the institution's anxiety in the shadow of Bitcoin's unassailable and superior monetary system, which can do everything the Fed does (except print money), but better.

The Scoop: During the recent US Senate Banking Committee hearing, Elizabeth Warren reinvigorated her war on crypto, claiming that if the senate would only ban self-hosted wallets they could choke off funding for Hamas. She blithely ignored that the numbers used to evidence Hamas’ use of crypto were wildly inflated, as well as the fact that the vast majority of terrorist funding comes through existing banking channels…using Fiat. 🤔 Perhaps, she should consider banning Fiat. 📺 You can watch the full hearing here, her statement starts around 1:50 and lasts to 1:55.
Why you should care: Bitcoin was created with the express aim of being a “peer to peer electronic cash system” that allowed for self-custody of assets and the elimination of counterparty risk. However, obliging Bitcoin users to utilise 'sanctioned' centralised services could reintroduce the very counterparty risks and systemic issues inherent in the traditional financial systems that Bitcoin was designed to rectify. Ironically, Senator Warren, a noted critic of major banks, appears to be undermining the very technology that addresses these banking issues. Moreover, it is particularly disconcerting that her actions utilise the recent deplorable terrorist acts by Hamas to further her agenda, compounded by the fact that she has received numerous donations from individuals within the finance sector.

The Scoop: Marathon Digital Holdings, a leading company in the Bitcoin ecosystem, has initiated a 280 kW Bitcoin mining pilot in Utah, utilising landfill methane gas as a renewable energy source, making the operation fully sustainable and off-grid. This innovative project aligns with the United Nations Environment Programme's stance on methane's substantial environmental impact, as it captures and converts methane—a potent greenhouse gas—into electricity for mining, which may significantly reduce emissions. Marathon's Chairman and CEO, Fred Thiel, highlights the dual benefits of environmental improvement and energy cost reduction, with prospects of expanding this initiative if the pilot yields promising results. Marathon encourages further exploration into the role of Bitcoin mining in environmental management through its report "Cashing in on Trash", which you can read in full here.
Why you should care: ⛏ Bitcoin mining is probably the most effective technology for profitably capturing methane. This allows 🌳 environmental initiatives to operate efficiently and provides green incentives that do not require government subsidies.

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