| | | BROUGHT TO YOU BY |  | Bullish Bitcoiners!
It's Tuesday so get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal!
The price is running hot, as bitcoin reaches highs over $46,000 for the first time since May. There is definitely a palpable mood of optimism in the air. And no better way to reiterate our conviction than by reading about the continued developments in the Bitcoin space.
Did you stack enough? | | Today's Rundown: - Lightning On The Rise: The Lightning Network is growing at an exponential rate.
- Supply Shock: With an absolutely scarce and inelastic monetary asset, the bitcoin price is about to see new highs.
- Debunking Misconceptions: What the former president of Chile's central bank got wrong about bitcoin.
Let's do this. | | | Lightning Network Capacity Grows 46% In Two Months
By Namcios The Lightning Network, Bitcoin's Layer 2 solution for scalability and privacy, now holds over 2,200 BTC – a 46% increase in under two months.
The Lightning Network is a second layer scaling solution for Bitcoin. It has become a "hot topic" lately as it is a core part of the infrastructure for new companies such as Strike which provides interoperable transactions between fiat and bitcoin. Lightning scalability is being leveraged as rails to create instant settlements even between different fiat currencies while trading against bitcoin.
Lightning was launched just over three years ago and has gained steam over the last several months increasing its capacity by 46% now holding over 2,000 bitcoin. As it matures and adoption continues to increase, we will see additional companies and solutions using Lightning Network. | | Tick Tock, Impending Bitcoin Supply Shock
By Dylan Leclair Demand for the absolutely scarce, inelastic monetary asset that is bitcoin continues to increase and the price will eventually react.
The markets are finally waking up. Dylan LeClair has been writing in the lasts weeks about a supply squeeze, an event where the price might run up abruptly, as an asset with inelastic supply finds itself being hoarded by stackers leaving consuming more than the available supply by miners and short term traders.
"With the way that bitcoin trades, it is entirely possible for all-time highs to be made in short order, as in over the next month or two. Bitcoin price action is reflexive in bull markets, as higher price increases demand, driving price even further." - Dylan | | Click the links:
1. London Stock Exchange-traded miner Argo Blockchain announced record profits in its Q2 earnings report, per a press release. The bitcoin mining firm now holds over 1,100 bitcoin worth $50 million.
2. Bitcoin price hits $45,000 and above, has the next BTC bull run begun?
3. Hashdex launched its newest bitcoin ETF in Brazil, another addition to the country's diverse bitcoin ETF menu and the first to be carbon neutral.
4. Senators Toomey and Lummis held a press conference focusing on a proposed amendment to a bill they fear could stifle Bitcoin.
5. Bitmain's path toward a public listing can tell us a lot about the institutionalization of the Bitcoin mining industry at large.
6. The U.S Senate rejected a bipartisan amendment on Monday aiming to clarify the tax-reporting provisions required for brokers supporting the Bitcoin economy.
7. While a proposal to increase tax obligations to Bitcoin actors brews in the U.S. Senate, Janet Yellen lobbies against Bitcoin in the background.
| | What The Former President Of Chile's Central Bank Gets Wrong About Bitcoin
By Pedro Solimano In a recent article, the former president of the Chilean Central Bank demonstrated several misunderstandings about Bitcoin.
As bitcoin gets more attention, it has become normal that leaders from different countries make opinionated comments about it, which often comes with misunderstandings or misconceptions about the technology.
Solimano's piece focuses on a list of misconceptions to debunk a recent article from the former president of the Chilean central bank, answering why it's not fair to assert that bitcoin has failed as money, focusing on the following points: - Bitcoin as a unit of account
- Bitcoin as a medium of exchange
- Bitcoin as a store of value
- Bitcoin transaction speed
- Bitcoin's use for criminal activity
- Bitcoin in comparison to CBDCs
"It's important to make a distinction between bitcoin and other cryptocurrencies. Bitcoin has unique characteristics and is separated from the rest of the market by functionalities that belong solely to its protocol." - Pedro. | | By Passytee
The Saylor Series continues! Have a little break and enjoy this parody of Saylor defending bitcoin against Jerome Powell. Guess who wins at the end of the day?
Keep stacking! | | | We're excited to be celebrating our 10th Twitter anniversary in August by giving away 10 Bitcoin 2022 conference tickets. The giveaway will start Sunday, August 1 at 12:00 p.m. ET and run until August 31 at 12:00 p.m. ET. The winner will be contacted by email on Wednesday, September 1. To enter, go to: http://www.rafflecopter.com/rafl/display/b28baf753/ | | | Received this newsletter from a friend? Sign up to get the best of Bitcoin delivered straight to your inbox. | | | Today's email was brought to you with ♥ by Bam and Joe.
Keep on reading, keep on stacking. | | | | |
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