This is huge news for Polygon. So many times have I heard “Polygon will be irrelevant after ETH 2.0” but the fact is that Vitalik himself said that Polygon will still be needed and he’s actually very interested in the project. I truly do believe that in this ever growing market, ZK rollups will be…
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Does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin? Whit Gibbs was a guest in a recent episode of Anthony Pompliano’s “The Best Business Show” and spilled the beans… or did he? The host cleverly disguised his question by talking about other countries following El Salvador’s footsteps and starting mining Bitcoin. He also mentioned Venezuela and other not-friendly to the U.S. countries already doing it. Then, he asked point-blank, what would it take for their country to start mining? Related Reading | Will Bitcoin Mining Backed Volcano Bonds Be Enough To Ward Off The IMF? “The United States is already mining,” Gibbs answered. And then softened the blow with a “Maybe.” If true, this is huge. And the implications are even greater. “They might have like 10 or 20 watts running somewhere in the midwest to test it out. Maybe. It’s hypothetically speaking. But, it’s a matter of national security.” Was that hypothetical? Or was the Compass Mining CEO giving us inside information? That’s what we’ll try to figure out. But first, here’s the video: What Does The Compass Mining CEO Know? Well, for starters, he knows Bitcoin is the hardest asset ever created. “When it comes to mining, when you’re talking about what Bitcoin is, whether it’s a store of value, it’s a medium of exchange. It’s the future financial instrument that many, many things are going to be built on top of. Nations would have to be absolutely out of their mind to not be getting some exposure to the underlying infrastructure which supports it.” So, it’s safe to say that the Compass Mining CEO is bullish on Bitcoin. Why do we think he might know something the rest of the world doesn’t, though? Gibbs continues, “So, the US I think is on the front foot. We’ve had a lot of conversations with the government in DC, state governments, to help educate them, but they are very forward-thinking when it comes to supporting this.” So, does the Compass Mining CEO know something we don’t? Is The United States mining Bitcoin already? Gibbs completes the idea by saying that El Salvador is showing the way to countries that are not at the forefront and, historically, have been hurt by the current system. They now know that being early to Bitcoin can make a huge impact and “get them there.” BTC price chart for 12/03/2021 on FTX | Source: BTC/USD on TradingView.com Other Countries That Are Already Mining Bitcoin Story Time With Pomp And Gibbs. The host senses that the guest knows something and tries to get it out of him. Pompliano shares a story with him: he knows that in 2012-2013 a Federal law enforcement agency was mining Bitcoin. The rationale was that they couldn’t get a budget approved to buy Bitcoin at exchanges to fund black/ undercover operations. So, they filled papers to get computers instead and started mining. The Bitcoin they got was untraceable, it had no history. And they used it to run operations. Then, it was Gibbs’ turn. “So, this is how you get in trouble,” the Compass Mining CEO answered. Cleverly, he shifted the focus from the U.S. to other countries. According to Gibbs, a North African country that’s a hotspot for the United States is getting into Bitcoin Mining. This is happening at the presidential level. Related Reading | Bitcoin Mining In The U.S.: 4 States Attract The Most Miners Also, he lives in Latvia. A very close neighbor of Latvia, “that may have stopped a plane no too long ago, to remove a journalist,” is already mining Bitcoin with nuclear power. The Compass Mining CEO closes his stellar presentation with, “I don’t believe that they’re mining Bitcoin to skirt sanctions. I believe that they’re mining Bitcoin because they see it as the future, and they want to boost their economy, they want to grow.” You read it here first, Bitcoin is the future and many world leaders know it. Featured Image by Christopher Skor on Unsplash – Charts by TradingView
Let me start this by stating the obvious : the United States dollars is the most stable and widely used state-backed currency. This post isn't arguing that it will disappear anytime soon. But I think most of us don't realize yet how close to disaster the US are right now. The country is literally two…
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Hi everybody, I am a big fan of ethereum and a proud holder of it. Although I like other cryptocurrencies like bitcoin, solana etc., ethereum is completely different to me because of its elite community, decentralization, and technology. I say elite because the community is highly teaching and the discussions are quite in-depth. I learn…
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Roskomnadzor, the government body responsible for oversight of communications in Russia, is taking steps to block six more VPN providers. The move comes after the agency cut access earlier this year to a number of VPN services helping Russians to reach “banned” information. Roskomnadzor Moves to Block More VPNs in Russia The Russian Federal Service […]
The BadgerDAO attack has reportedly impacted Celsius Network for more than $50 million, sources suggest.
Coinbase officials have suggested that they need to become the “Amazon Web Services of cryptocurrencies” as soon as possible.
In order to get the community more educated, I've prepared a video where I explain the term "Minting" in DEFI, what it means and how it looks like on the blockchain explorers websites: https://www.youtube.com/watch?v=zQkwA1eRMo8 In the video, I am explaining how to mint tokens with smart contracts and how to track token minting on blockchain…
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