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BTC Daily Intelligence Bulletin (DIB) Block: 832,407 DTG/ICOD: 0800EST 28Feb24 Precedence: Routine (RR) Controls: Public Release QQQQ __________________________ BLUF: China Continues Clampdown on Hong Kong / Fires in Texas / US Gov Shutdown Looms / IRS Ramping Up for Crypto / MSTR Continues Buying / Strike App Moves into Africa Market Data: Price: 1 BTC= $59,397, 29.27 oz Gold, .14 Median US House 24hr Hi: $59,489 / Lo: $56,329 Vol: $48B (Down 9%) Mkt Cap: $1.17T (Up 4%) HashRate: 609 EH/s Avg Fees: 16,211 sats/tx (Up 6%) Nodes: 18,320 ---Reports--- -International Events- 1. Macron raises prospect of sending Western troops to Ukraine: The French president hasn't ruled out the deployment of Western soldiers to Ukraine. His comments have sparked debate among allied Western countries, with Germany categorically rejecting the idea. 2. Hong Kong’s plan for a new national security law deepens fears over eroding civil liberties: Critics say the legislation will make Hong Kong’s legal system increasingly similar to that of mainland China, but the government argues it will affect only a “small minority” of disloyal residents. -US Events- 1. Texas Panhandle Fires Burn Structures, Close Nuclear Facility: ​The largest fire is called the Smokehouse Creek Fire. It has burned nearly 400 square miles, according to the Texas A&M Forest Service, since being reported late Monday afternoon in Hutchinson County, about 35 miles northeast of Amarillo. The cause of the fire is unknown. (WeatherChannel) 2. A partial government shutdown is days away. There’s no agreement on federal funding yet: Schumer said it’s likely Congress will need to approve another continuing resolution, or CR, to avoid a partial government shutdown. Stopgap spending bills continue the prior fiscal year’s funding levels and policy until Congress reaches agreement on full-year spending bills. (CONewsline) -Regulatory and Legal- 1. IRS Brings Crypto Veterans Aboard to Guide Tax Regulations: IRS hires former Binance.US and TaxBit executives to enhance crypto compliance and enforcement efforts. (BeInCrypto) -Institutional Concerns- 1. MicroStrategy Bought $1.55 Billion in $BTC Over Past Ten Days: The company’s latest filing with the U.S. SEC revealed the purchase of nearly 3,000 Bitcoins for approximately $155.4 million between February 15 and 25. This move propelled MicroStrategy’s total Bitcoin holdings to an impressive 193,000, which it acquired for an average of $31,544 each – around $6.09 billion in total. -Central Bank Digital Currencies (CBDC)- 1. Federal Reserve explores the impact of CBDC on dollar dominance: A recent paper by the Fed concludes that a CBDC would have no material impact on dollar dominance but adds a critical caveat “in the absence of large geopolitical changes separate from CBDC issuance.” The potential benefits of introducing a CBDC can be achieved by other payment system improvements that are already in progress. (LedgerInsights) -Economic Indicators- 1. US Mortgage Applications Fall to 3-Month Low: Mortgage applications in the US sank by 5.6% on the week ending February 23rd, extending the year-high 10.6% plunge in the previous period to the lowest since November 2023. Mortagage rates remained above 7%. (TradingEconomics) -Technological Updates-' NSTR -Security Incidents and Concerns- 1. Matthew Perry’s X Account Hacked by Crypto Scammers: The X account of the late American actor had allegedly been hacked. The targeted website, however, was just a donation page designed to scam his memorial fund. (CryptoTimes) 2. Man Who Laundered Billions in Bitcoins Says Bitcoin Fog Was a Help: Ilya Lichtenstein, one of the crypto industry's most high-stakes criminals, is now helping federal prosecutors in their case against Bitcoin Fog, one of the mixing services he said he'd used to conceal assets. Lichtenstein is known for the multi-billion Bitfinex hack of bitcoins worth $3.6 billion when he pleaded guilty to money laundering last year. (TradingView) -Bitcoin Community- 1, Argentina Leads Crypto Adoption in Latam: Argentina is leading the adoption of cryptocurrency in Latin America. According to a report by Lemon, a leading exchange in the country, four of every ten cryptocurrency apps in Latam are being used by Argentines, with over 70% of the deposits processed by the exchange corresponding to USDT, Tether’s dollar-pegged stablecoin. (Bitcoincom) 2. Bitcoin Miner Riot Acquires 31,500 'Next Generation' M60S Mining Machines Worth $97.4 Million: Bitcoin miner Riot Platforms Inc. said it expects to take delivery as well as deploy 31,500 Whatsminer M60S miners worth $97.4 million by the end of July 2024. The addition of the new bitcoin mining machines is projected to increase the “self-mining” hashrate capacity of Riot’s Rockdale Facility to 15.1 EH/s. (Bitcoincom) 3. Strike CEO Jack Mallers Announces Expansion of Services into Africa: Strike Africa will now be available in Gabon, Ivory Coast, Malawi, Nigeria, South Africa, Uganda, and Zambia, with plans for further expansion in the future. With this expansion, Strike aims to address the unique financial challenges faced by many African countries, including high inflation rates, devaluing currencies, and expensive remittance services. (BitcoinMagazine) -Bitcoin Sentiment- 1. Fear(0)/Greed(100) Index: 82/100 (Up 3 pts) Analyst Comments (AC): As BTC approaches a new all-time high, not all attention will be positive. One headline today championed "Missed Out On Recent Market Pumps? Here Are 4 Coins Primed To Pump Next", which plays on the FOMO inherent in investor psychology to separate people from the fruits of thier labor. The IRS also is seeking to get it's "fair share" by hiring former crypto execs to ensure enforcement actions. Vigilance and work are required to maintain one's store of value and protect against those seeking to take by force or guile. Plan and protect accordingly. Follow us on NOSTR: npub1qktts9naunvjdwsktq5xjdhwh539xt4x0mqj4yxq0q9dvm03ljvs6sms0r ____________________ Analyst: BV2A END REPORT NNNN *NSTR-Nothing Significant To Report
When Boston Fiat Party?! image
BTC Daily Intelligence Bulletin (DIB) Block: 831,682 DTG/ICOD: 0800EST 23Feb24 Precedence: Routine (RR) Controls: Public Release QQQQ __________________________ BLUF: ATT Outage, Pharma Hack Raise Suspicions / Houthis Hit Another Ship / Private US Firm Lands on Moon / TX Blockchain Sue DOE / Reddit Reveals BTC, ETH Positions Market Data: Price: 1 BTC= $50,966, 25.15 oz Gold, .12 Median US House 24hr Hi: $52,009 / Lo: $50,856 Vol: $23B (Down 14%) Mkt Cap: $1T (Down 1%) HashRate: 607 EH/s Avg Fees: 7,485 sats/tx (Up 8%) Nodes: 18,480 ---Reports--- -International Events- 1. Houthi rebel attack sets cargo ship ablaze, forces Israel to intercept another attack near Eilat: The attack Thursday in the Gulf of Aden saw two missiles fired at a Palau-flagged cargo ship named Islander, the U.S. military’s Central Command said. A European naval force in the region described the attack as sparking a fire and wounding one sailor on board the vessel, though the ship is continuing on its way. (AP) 2. South Korea health alert raised to ‘severe’ over doctors walkout: Almost two-thirds of the country’s young doctors are on strike against a government plan to admit more students to medical schools, forcing hospitals to turn away patients. (NBC) -US Events- 1. U.S. returns to the moon as first private spacecraft touches down: Space company Intuitive Machines became the first business to land a private spacecraft on the moon on Thursday. The spacecraft is carrying a host of NASA science experiments alongside several other private payloads. The experiements will help support NASA's Artemis program which will place humans back on the moon in 2026. (Axios) 3. Florida House passes legislation that would prohibit kids under 16 from having certain social media accounts: On Thursday, the House passed House Bill 1 in a vote of 108-7 and is now headed to Gov Desantis' desk. (CNN) -Regulatory and Legal- 1. Texas Blockchain Council including Riot file lawsuit against US Energy Department over Bitcoin miner survey: The Feb. 22 court filing showed that the miners want to halt what they deem an “unlawful emergency data collection,” Lee Bratcher, president of the TBC, said: “It’s evident that this survey is not about grid stability, as bitcoin miners are the most flexible load on any grid, but is a targeted political effort led by figures like Elizabeth Warren.“ (CryptoSlate) 2. Trump: Bitcoin Has Taken on 'a Life of its Own,' Will Probably Need Some Regulation: The former U.S. president had previously said he was "not a fan" of cryptocurrencies and called central bank digital currencies dangerous, vowing not to allow them if elected. (CoinDesk) -Institutional Concerns- 1. Reddit Adds Bitcoin and Ether to Its Treasury: The social-media company said that it invested some of its excess cash reserves in the cryptocurrencies, which are the two largest coins in crypto by market value. Reddit said that its investments in crypto for treasury purposes will be limited to coins that are unlikely to be securities, based on statements by regulators. (WSJ) (AC-Wall Street is taking notice) -Central Bank Digital Currencies (CBDC)- 1. Digital Yuan Now Used to Complete Car Prepurchase Payments: The digital yuan, China’s CBDC, is being used as a security element in car prepurchase payment settlements. According to local media reports, a pilot test that allows customers to pay for their cars with digital yuan was established in early February in Shenzhen, and several customers are already purchasing their vehicles using this system. (Bitcoincom) -Economic Indicators- 1. It’s Been 30 Years Since Food Ate Up This Much of Your Income: In 1991, U.S. consumers spent 11.4% of their disposable personal income on food, according to data from the U.S. Agriculture Department. At the time, households were still dealing with steep food-price increases following an inflationary period during the 1970s. More than three decades later, food spending has reattained that level, USDA data shows. In 2022, consumers spent 11.3% of their disposable income on food, according to the most recent USDA data available. (WSJ) -Technological Updates-' 1. AT&T outage caused by software update, company says: AT&T told ABC News in a statement ABC News that the outage was not a cyberattack but caused by "the application and execution of an incorrect process used as we were expanding our network." (ABC) -Security Incidents and Concerns- 1. UnitedHealth Blamed ‘Nation-State’ Threat in Hack That Disrupted Pharmacy Orders: A cyberattack against a division of UnitedHealth Group Inc. has caused a nationwide outage of a computer network that’s used to transmit data between health-care providers and insurance companies, rendering some pharmacies unable to process prescriptions, according to the company and reports from affected organizations. (Yahoo) -Bitcoin Community- NSTR -Bitcoin Sentiment- 1. Fear(0)/Greed(100) Index: 76/100 (Up 2 pts) Analyst Comments (AC): Yesterday's cyber and communication anomalies are suspect. The AT&T outage, UnitedHealth's hack and sporadic reports of Wells Fargo customer outages happening on one day are indicative of foul play, environmental effects (i.e. solar flares), or incompetencies. What is relevant to the general population is the apparent fragility of the networks of power, communications and infrastructure that we so rely on. Whether yesterday's events were a test or some combination of incompetence, distributed and redundant systems are necessary and individual planning for contingencies are simply prudent. Follow us on NOSTR: @Bitcoin Veterans ____________________ Analyst: BV2A END REPORT NNNN *NSTR-Nothing Significant To Report
BTC Daily Intelligence Bulletin (DIB) Block: 831,534 DTG/ICOD: 0800EST 22Feb24 Precedence: Routine (RR) Controls: Public Release QQQQ __________________________ BLUF: Yemeni Houthis Launch More Missiles at Ships, Israel / Russia Gains Offensive in Ukraine / Biden Forgives Some Debts / NVDIA Pumps US Stocks / Nigerians Use VPNs to Access Crypto Market Data: Price: 1 BTC= $51,512, 25.39 oz Gold, .12 Median US House 24hr Hi: $51,980 / Lo: $50,671 Vol: $27B (Down 21%) Mkt Cap: $1.01T (Flat) HashRate: 543 EH/s Avg Fees: 5,965 sats/tx (Down 18%) Nodes: 17,978 ---Reports--- -International Events- 1. Israel’s Arrow intercepts apparent Houthi ballistic missile headed for Eilat: Israel’s long-range Arrow air defense system shot down a ballistic missile over the Red Sea early Thursday morning. Meanwhile, US conducts four 'self-defense strikes' against Houthi weapons preparing to launch(TimesOfIsrael/Fox) 2. Julian Assange's US extradition hearing wraps up in London, decision not expected until at least next month (Fox) 3. Ex-CIA director says Russia has broken the stalemate in Ukraine and is 'on the offensive' along the 600-mile war front: The Russians are no longer on the back foot in Ukraine, says former CIA chief Robert Gates. "A lot of people are referring to the war at this point as a stalemate," Gates told The Washington Post in an interview on Wednesday. "I'm afraid I believe that, at this point, it's actually not so much a stalemate, but that the Russians have regained momentum." "It's not breakthrough kind of momentum, but it is the sense that they are now the ones pressing the offensive," he continued. (BusinessInsider) -US Events- 1. Oregon Fentanyl Overdoses Increase by 1,530%, Largest Spike in the Nation: A new FOX12 report using data obtained from the U.S. Centers for Disease Control (CDC) exposed the shocking statistics, revealing that 1,268 deaths occurred as a result of the fatal drug between September 2019 and September 2023. (Fox) 2. Biden Transferring Student Debt from 153,000 Borrowers, Notifies Them in Emails: Politico reported that on Wednesday, the Biden administration was set to blast out emails to some 153,000 loan borrowers, who will see $1.2 billion transferred out of their collective debts under his Saving on a Valuable Education (SAVE) plan.(Breitbart) -Regulatory and Legal- 1. Bitcoin ETF Approval Comparable to 'Naked Emperor’s New Clothes,’ ECB Officials Say: The U.S. SEC’s approval of multiple spot ETFs and the billions of dollars that have poured in since don't make Bitcoin a good investment or a better means of payment, the central bankers said in a blog post. (CoinDesk) -Institutional Concerns- 1. Most Bitcoin ETFs Keep All Their Eggs In One Basket. Is That Risky? Cryptocurrency custody is divided into two camps — custody from a technology perspective and qualified custodians, according to Kyle DaCruz, Director of Digital Assets Products at VanEck. VanEck launched its spot bitcoin ETF, the VanEck Bitcoin Trust (HODL) on Jan. 11. VanEck recorded more than $86.9 million in inflows since launch and has $187.6 million in assets under management as of Feb. 14, according to BitMEX Research. (IBD) -Central Bank Digital Currencies (CBDC)- NSTR -Economic Indicators- 1. US Futures Rally after Nvidia Results Beat: Stocks futures in the US rallied on Thursday, with contracts on the S&P 500 futures soaring 1.1% to hover at record levels, while the Nasdaq 100 jumped 2.2% and the Dow Jones futures added about 160 points after Nvidia's results topped forecasts. (TradingEconomics) -Technological Updates-' NSTR -Security Incidents and Concerns- 1. A cache of leaked Chinese hacking documents just confirmed experts' warnings about how compromised the US could be: Over 570 files and documents were posted to the developer platform GitHub last week, per The Washington Post. The documents, which track hacking activity across multiple countries, belong to iSoon, a private security contractor with ties to China's Ministry of Public Security, according to the Post's report on Wednesday. (BusinessInsider) 2. Nigerians turn to VPN as government blocks access to Binance, Coinbase, others: The Nigerian government barred access to crypto platforms because of their alleged roles in the country's fiat currency struggles. (CryptoSlate) -Bitcoin Community- NSTR -Bitcoin Sentiment- 1. Fear(0)/Greed(100) Index: 74/100 (Down 4 pts) Analyst Comments (AC): The Investors Business Daily (IBD) article referenced above is an indicator of mainstream financial media beginning to address the need for Bitcoin education. Though this article focuses on how the ETFs 'custody' the Bitcoin, it teaches readers how Bitcoin is different than other assets, giving investors a primer on the value inherent in it. As more economic value begins to chase the limited supply of Bitcoin, this kind of education will be necessary for responsible investing and eventually a transition to a Bitcoin Standard. Follow us on NOSTR: @Bitcoin Veterans ____________________ Analyst: BV2A END REPORT NNNN *NSTR-Nothing Significant To Report