Mining difficulty up 9.95% with more machines coming online amid recent rally.

This means that more mining hardware has been activated on the network, perhaps in response to recent price increases.

Here’s Luxor COO Ethan Vera: "Network hashrate continues to march upwards, as more efficient machines come to market, electricity rates fall, infrastructure gets built out and mining economics improve with Bitcoin price and ordinal transaction fees.”

Mining difficulty refers to the complexity of the computational process used in mining, and it adjusts about every two weeks.

@bitcoins

🇮🇩 Indonesia to launch state-backed $BTC and crypto exchange by mid-2023.

@bitcoins

A reporter traveled to El Salvador and tried to pay for their hotel in bitcoin but was denied twice. Watch what happens at the end.

@bitcoins

UBS analysts aren’t convinced that pending bankruptcy repayments to former Mt. Gox users will send the bitcoin market spiraling.

Some market observers have speculated that such an outcome is possible if significant amounts of bitcoin are sold once those customers receive payments from the once-mighty, now-collapsed Japanese bitcoin exchange.

Flashback: Mt. Gox fell apart in 2014, resulting in hundreds of millions of dollars in losses and a raft of regulatory responses worldwide.

But UBS strategist Ivan Kachkovski isn’t convinced. Rather, he’s betting that those users – early adopters of crypto as they are – will be more likely to hang onto their coins once they get them.

Kachkovski also wondered whether this belief is reflected in current market sentiment.

Here’s Kachkovski: "It's certainly difficult to estimate the extent to which the market has been pricing massive sales coming from Mt.Gox. However, we think such news could have been an additional factor for — what we believe could be mainly retail-led — BTC's surprising resilience of late.”

📍 Follow @Coins for the hottest news in crypto.

Crypto Has More Appetite To Sue SEC Than Ever Before: Kraken Exec

Coinbase and Kraken are confident tokens listed on their platforms are not securities, regulator leaders from the exchanges said.

Do you think they should go ahead and sue?

https://blockworks.co/news/crypto-has-appetite-to-sue-sec

📍 Follow @Coins for the hottest news in crypto.

Riot, one of the largest mining companies in North America, has released its full-year 2022 financial report, announcing that it will have $230 million in cash, no long-term debt, and 6,974 bitcoins by the end of 2022.

Reported a net loss of $509.6 million, which was significantly impacted by non-cash impairment charges totaling $538.6 million, including goodwill impairment of $335.6m associated with the Whinstone and ESS Metron acquisitions in 2021, impairment of crypto held of $147.4m, and impairment of miners of $55.5 million.

However, due to an accounting error in calculating the impairment of its bitcoin holdings, Riot said it would delay filing its financial statements with the SEC and would file and amend the relevant data within 15 days.

@bitcoins

SoftBank-backed Xapo Bank becomes the first bank in the world to integrate the Bitcoin Lightning Network.

@bitcoins

Inflation rate:

Argentina 🇦🇷 98.8%
Turkey 🇹🇷 55.18%
Russia 🇷🇺 11.8%
UK 🇬🇧 10.1%
Italy 🇮🇹 9.2%
Germany 🇩🇪 8.7%
Euro Area 🇪🇺 8.5%
Mexico 🇲🇽 7.91%
India 🇮🇳 6.52%
USA 🇺🇸 6.4%
Brazil 🇧🇷 5.77%
Japan 🇯🇵 4.3%
Switzerland 🇨🇭 3.3%
China 🇨🇳 2.1%

Telegram | Twitter

Bitcoin Lightning payment in the Philippines

@bitcoins

Stanford University Bitcoin lesson.

@bitcoins

Missouri state committee passes bill protecting the right to run a node and mine Bitcoin.

https://twitter.com/bitcoinmagazine/status/1633140075675652096

@bitcoins

🙋🏻‍♂️ Tell me you are in El Salvador without actually saying you are in El Salvador.

💁🏼‍♀️ I can buy an ocean-view condo directly with Bitcoin, no need to cash it out first.

@bitcoins

In just the span of 1 month, over 100k Bitcoin Ordinals were inscribed in a parabolic NFT minting frenzy that has brought attention to Bitcoin in a way it hasn’t seen in years. Ordinal theory ascribes a unique number to each satoshi and enables inscribing of metadata to each satoshi, functionally turning them into “NFTs”. The metadata can include pictures, gifs, and videos with a max size of 4MB, the upper limit for a Bitcoin block. Users inscribing metadata to specific satoshi units can fundamentally change Bitcoin's fungibility.

This added functionality has reignited the demand for Bitcoin block space. The average size of a block has increased from about 1.2 MB to 2 MB since the start of the year. Ordinals could be a godsend in ensuring the sustainability of the Bitcoin blockchain. As users pay to inscribe metadata, miners find a new, much-needed stream of revenue.

📍 Follow @Coins for the hottest news in crypto.

Best-performing assets in the last decade.

$BTC 👑

@bitcoins

Celebrating Bitcoin $BTC reaching $111 ATH back in 2013. A historic video.

@bitcoins

When you have 5 minutes of free time, watch Wyoming Senator Cynthia Lummis defending Bitcoin mining energy use in Congressional hearing. A fascinating dialogue 👀

@bitcoins

US Bank stocks today:

Silicon Valley Bank -60%
Silvergate -42%
JP Morgan -5.4%
Bank of America -6.2%
Wells Fargo -6.1%

@bitcoins