 | | THE BITCOIN BEAT
NEWSLETTER | FEB 10 2021 | | | | |
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| | Bitcoin at scale is the most private money in history
WHAT'S GOING ON HERE? Bitstocks CEO, Michael Hudson, beautifully juxtaposes the much-scrutinized dichotomy between privacy and anonymity.
WHAT DOES THAT MEAN? Hudson criticizes the way digital currency wallets store coins today, stating that this makes it "very easy" for a "company like Chainalysis to do what they do." He then states that the way Bitstocks is managing their coins for their users is unique, stating that he is "confident" that Chainalysis will not be able to trace the transactions, while remaining "legally and lawfully compliant."
WHY SHOULD I CARE? Bitcoin can be used in a way those on the outside looking in cannot trace what you are doing, but participants can in the case they have to — ideally how markets should function. By using the electronic cash to its full capability, we can hide from Big Brother while showing him our middle finger. | | | |
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| | Elon Musk would hate BSV
WHAT'S GOING ON HERE? Elon Musk, after a weekend of pushing Dogecoin back into the limelight, has announced that Tesla bought 1.5 billion dollars' worth of BTC which he intends to do nothing with so that it will lose velocity on the company books for the foreseeable future.
WHAT DOES THAT MEAN? Without being overly critical of Mr. Musk, it's clear that folks like Michael Saylor, Anthony Pompliano and Mike Novogratz have been successful at selling their narrative: if you're a company or a person with excessive wealth, hold it in BTC instead of dollars. So, BTC is not about creation of value, it is about absorption of value and a race to control the supply—and therefore control the future lives of the nocoiners.
WHY SHOULD I CARE? Elon has BTC now. And if he wants, he can spend it someday just as long as the rest of the planet isn't also trying to broadcast more than 6 megabytes per hour at the same time. Then he can't spend it, because that's just how BTC works now. | | | |
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|  Satoshis don't exist except as a record on the public ledger and when we perform a transaction, what we're effectively doing is, we're taking an existing record that we can assert ownership over and redistributing its contents…
– Brendan Lee, Training and Development Manager at Bitcoin Association
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 | Xiaohui Liu about sCrypt and unleashing Bitcoin's full potential This week's edition of The Bitcoin Bridge looks at a Bitcoin project that has definitely bridged the Pacific: sCrypt. Founder Xiaohui Liu, a Chinese expat now living in Silicon Valley, tells us how he got there, why Bitcoin Script can handle contracts and tokens better than any other blockchain, and what he hopes people will use sCrypt for. | |  | Brendan Lee: What really happens when you make a Bitcoin payment The Bitcoin SV Academy has launched a new course, Introduction to Bitcoin Theory, which is designed for anyone, even those completely new to Bitcoin. In this week's CoinGeek Conversations, Charles Miller talks to Brendan Lee, Bitcoin Association's Training and Development Manager, about what he learnt on the course. | | | |
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