🕊️ Countries Should Mine Bitcoin Instead Of Going To War
MIT thesis suggests countries should mine bitcoin instead of waging war, bitcoin is officially the best-performing asset of Q1 2023, and the Bitcoin Whitepaper has been hiding in macOS since 2017.
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Hey everyone,
This time, we dive into the exciting idea of countries mining Bitcoin as an alternative to engaging in war. We also celebrate Bitcoin's exceptional performance in the first quarter of 2023, which saw it outperforming major indices and precious metals. Finally, we uncover the mysterious presence of the Bitcoin Whitepaper hidden in every macOS copy since 2017.
And last but not least, we would like to mention that Q1 2023 was the best quarter in Relai’s history. We crushed all kinds of records and are incredibly thankful for the support and dedication from you, our users.
By the way: This weekly newsletter is also available in German; you can sign up here.
Quote of the Week:
“The computer can be used as a tool to liberate and protect people, rather than to control them.”
- Hal Finney
🕊️ Countries Should Mine Bitcoin Instead Of Going To War
What might sound like a Bitcoiner’s wishful thinking is actually the conclusion of a recently released MIT master’s degree thesis. Written by Space Fore major Jason Lowery, and also published as the best-selling book “Softwar”, the thesis argues that future power competition will be over who puts the most energy into Bitcoin’s proof-of-work algorithm. Therefore, the U.S. Pentagon should look into Bitcoin mining as much as they do with nuclear warheads or killer robots. However, competitive Bitcoin mining should not be considered an act of war. Instead, Lowery compares it to chess matches between the West and East during the Cold War or control over maritime trade routes. Lowery also suggests that the Bitcoin network should be seen as a tool to beef up national cyber-security systems. The thesis recommends that the U.S. stockpile as much bitcoin as possible, boost its domestic Bitcoin mining industry, and extend 2nd Amendment protections to the technology on the theory that it’s a self-defense weapon.
My take: Lowery’s thesis is an exciting idea that many Bitcoiners can see as a viable thing to happen. But given the current U.S. government's negative stance, it’s unlikely that we will see this happening soon.
🎖️ Bitcoin Is The Best-Performing Asset Class In Q1, 2023
In Q1 2023, Bitcoin emerged as the best-performing asset class, with gains of around 70%, significantly outperforming major indices and precious metals. It surpassed the S&P 500 (5.5%), Nasdaq 100 (19%), iShares Core U.S. Aggregate Bond ETF (2.2%), gold (9.5%), and silver (0.3%), as per data obtained by Finbold on March 31. Bitcoin's rally began in late 2022, and its resilience is attributed to its fundamental values and its unique role as a bearer asset in times of skepticism about bank deposits and increased central bank bailouts. Investors have been flocking to Bitcoin, with open interest spiking almost 430% YoY as of March 31. Bitcoin has also benefited from the turmoil in the banking sector, as investors view the asset as an alternative to centralized monetary systems following the collapse of Silvergate Capital, Signature Bank, and Silicon Valley Bank. This trend has revived optimism in the bitcoin market.
My take: Despite a rather negative market sentiment, and a still ongoing banking crisis, bitcoin achieved what Satoshi Nakomoto intended: To be seen as an alternative to the financial industry.
🍏 Bitcoin Whitepaper Hidden In Every macOS Copy Since 2017
The Bitcoin Whitepaper, written by Satoshi Nakamoto, has been hidden inside every macOS version from Mojave to Ventura since 2017. It was initially discovered by a user named bernd178 on the macOS Community Forum in April 2021 and later brought into the spotlight by blogger Andy Baio on his blog. “Of all the documents in the world, why was the Bitcoin whitepaper chosen,” writes Baio. “Maybe it was just a convenient, lightweight multipage PDF for testing purposes, never meant to be seen by end users.” It is speculated that including the whitepaper could be an act of defiance against Craig Wright, who has been attempting to copyright the document and sue places hosting it. In February 2023, Wright lost a copyright claim regarding the whitepaper in a UK Court. The reason for including the Bitcoin Whitepaper in macOS remains a mystery. Many are curious to see if it will be present in the upcoming macOS 14, which is expected to launch later this year.
My take: I assume that this was done by probably only one person, so I don’t expect this to be a giant Easter egg hidden by Apple itself. It will be interesting if Apple removes the whitepaper through regular updates.
Short news:
MicroStrategy Buys More Bitcoin as Asset Nears Company’s Break Even Price
Future of Paxful Bitcoin Exchange in Flux As Co-Founders Fight
Bitcoin price bounces after CZ arrest rumors as traders eye $30K next
Highlights from Relai:
We Broke All Kinds Of Records In Q1 2023
We’re excited to share that we at Relai have shattered previous records in our best quarter yet.
With an impressive 215% year-on-year growth, we’re continually working towards making Bitcoin more accessible than ever before.
Disclaimer: None of this content constitutes investment advice. Always conduct your own research before investing in any digital asset.
Thank you for reading once again; we hope you enjoyed this news.
See you next week!
Your Relai Team
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