Bitcoin miners provide a valuable service to the ecosystem. In exchange for the work they do securing the network, they are rewarded by the same network they protect. This sound and elegant design by Satoshi is surely one of the most remarkable aspects of Bitcoin. What is increasingly being forgotten, however, is that there is more to mining than merely hashing. A person engaging in the entire process must run a node to get reliably updated on the most recent state of the blockchain, then begin construction of a new…
Read MoreDay: November 21, 2023
World’s Largest Bitcoin, Crypto Exchange Binance Founder CZ To Resign As CEO, Plead Guilty
The CEO of Binance, Changpeng Zhao, commonly known as CZ, is set to step down from his role from the company as he plead guilty to money laundering violations, according to the Wall Street Journal. Binance, as a company, will also plead guilty and pay $4.3 billion fine. This news arrives in the wake of the conclusion of a criminal investigation around the cryptocurrency exchange. The investigation centered on alleged regulatory breaches and illicit activities within Binance. And now, the finale of this probe seems to have prompted a leadership transition. The investigation’s official…
Read MoreMilei’s Presidency: Implications For Argentina, El Salvador, And Bitcoin Adoption
On November 19, 2023, Argentine voters elected Javier Gerardo Milei, an Austrian economist known for his candid and unconventional style, as their new president. He ran on a platform promising substantial reforms: cutting spending, reducing government intervention, addressing inflation, and eliminating the central bank. Milei’s path to victory was unexpected. In the general elections, he secured second place with 30% of the vote, trailing Sergio Massa of the Peronist establishment, who garnered 37%. Patricia Bullrich, former Minister of Security under President Macri’s administration, obtained 24%. These results forced Balotaje, or…
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