At @MicroStrategy, we are working on a product to deliver a #Bitcoin wallet & #Lightning⚡️ address to every corporate account holder and enable quick & easy development & deployment of bitcoin rewards applications to employees, customers, prospects, & partners.
₿𝗥𝗘𝗔𝗞𝗜𝗡𝗚: Texas #bitcoin bill passed!
Energy companies can now mine #bitcoin to help lower their emissions by recycling the harmful flared and vented gas caused by oil wells. #Bitcoin mining is shown to help reduce 62% of the carbon impact.
Cold storage #Bitcoin on layer one just became WAY more valuable than anything else.
And it’s not being reflected in the price.
People will build on top of L1. This was always expected. It’s just that right now that system is being SHOCKED.
The incentives of the Fiat system are redistributing #BTC from weak hands (shitcoiners) to strong hands (miners).
The cost of moving L1 Bitcoin in the most sovereign way has increased due to network demand, thus further reinforcing the TRUTH that Bitcoin is the most secure, immutable, value propagating and sovereign system that has EVER EXISTED.
It further supports the eventual adoption by nation states and its ultimate purpose as THE foundational monetary system of the future. It will be the fundamental keystone of value.
The alternative is that it suffers the same fate as $BCH, $DOGE, $LTC or any other less secure proof of work network.
These networks may always exist in some state, but will always be less optimal value transfer systems. These networks may function, but not in a sovereign way.
You have to PAY the cost to be SOVEREIGN. Otherwise go play with a less secure PoW network or a state owned PoS network. You can enjoy the speed of these networks without the security they offer. You can enjoy the limited fees, but not the freedom.
#Bitcoin is FINE. Layer 2s/3s will continue to build and grow and people will improvise in order to stay a float. I feel for those who are less fortunate and who struggle because of the fees, but Lightning ⚡️ was developed to be an alternative to the system with satoshis as the underlying token.
There are going to be some incredible applications and developments that are driven from the results of the last few weeks.
The beautiful thing is that developers and plebs EVERYWHERE are going to continue to create the most ROBUST, FREE and OPEN SOURCE network that has ever existed for transferring value and you don’t have to do a thing.
Taproot made it easier to spam the #bitcoin blockchain.
There is now an influx of spam transactions.
The mempool is processing them as designed, and fees are adjusting upward as appropriate.
This is resulting in extremely high transaction fees - the highest ever seen on #btc.
Want to visualize the seriousness of the last 90 days of banking failures?
Here is a representation of the inflation-adjusted size of bank failures of the last quarter century.
See the bad omens?…
Things are breaking.
Expect inflation volatility.
#Bitcoin is inevitable.