IMF Pressures El Salvador on Bitcoin Law The International Monetary Fund (IMF) is challenging El Salvador's Bitcoin policy, straining negotiations over a needed $1.4 billion credit line. The IMF's concerns with the country's pioneering move to adopt Bitcoin as legal tender include financial stability and integrity risks, putting President Nayib Bukele's vision of financial inclusion and economic innovation at odds with the global financial institution. Despite the IMF's stance, El Salvador remains committed to its Bitcoin strategy, highlighting a broader conflict over monetary sovereignty and the future of decentralized finance. - El Salvador's adoption of Bitcoin aimed to enhance financial inclusion and reduce reliance on traditional banking systems. - The disagreement with the IMF underscores a significant ideological and practical rift between global financial institutions and nations exploring cryptocurrency as a legal tender.

Bitcoin Magazine

The IMF Is Still Demanding Changes To El Salvador's Bitcoin Law: Report

The IMF is reportedly demanding changes to El Salvador's pioneering Bitcoin law amid $1.4 billion credit negotiations, underscoring tensions o...

@Isa ⚡️ the hackers got into your Gmail and are resetting your passwords for your other services.

EU's New Anti-Money Laundering Measures Stir Controversy The EU Parliament's committees have approved stringent anti-money laundering regulations, banning anonymous cash transactions over €10,000 in business settings and any anonymous cryptocurrency payments. MEP Patrick Breyer criticizes the legislation for infringing on financial privacy and personal freedom, highlighting the historical significance of cash for privacy and the potential risks of increased bank dependency and digital financial surveillance. Despite efforts to combat crime, critics argue these measures will minimally affect crime rates while significantly impacting civil liberties and the use of virtual currencies. - Over 90% of EU citizens opposed cash payment limitations in a 2017 survey, valuing anonymous transactions as a crucial personal freedom. - Law enforcement's success in tracing Bitcoin transactions questions the necessity of stringent regulations on cryptocurrencies, with concerns over their global regulation due to the internet's nature.

Patrick Breyer

EU cash cap and ban on anonymous crypto payments results in financial paternalism

The majority of the EU Parliament's lead committees today approved far-reaching new anti-money laundering laws: Anonymous cash payments over �...

Whirlpool Protocol's Major Decentralization Update The Whirlpool protocol introduces a significant update enhancing decentralization by utilizing the Soroban network for client and Coordinator communication. This shift away from a centralized Coordinator server to automatic server discovery within the encrypted, app-agnostic Soroban network minimizes downtime and disruption, marking it as the "Whack-A-Mole" stage of decentralization. Users are urged to update their Samourai software to the latest versions to maintain compatibility and benefit from uninterrupted service. This update underscores a move towards bolstering privacy and resilience, ensuring seamless operation without interruption for users seeking anonymity in their transactions. - Soroban, developed by Samourai Wallet, emerges as a pivotal tool for secure, decentralized communication across the Whirlpool protocol. - With the decentralization update, the Whirlpool Coordinator eliminates reliance on a static clearnet domain for communication, now operating exclusively via Soroban to sustain anonymity and operational resilience. https://blog.samourai.is/decentralized-whirlpool-stage-1/

Craig Wright Not Satoshi Nakamoto, UK Court Rules A UK judge declared "overwhelming evidence" against Craig Wright's longstanding claim of being Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Justice James Mellor dismissed Wright's assertions, marking an end to the controversy in a trial that scrutinized Wright's claim through a nonprofit's lawsuit aimed to halt his litigation based on alleged fabrications. The ruling also affects Wright's ongoing lawsuits, emphasizing the gravity of his dishonesty in claiming billions in damages and threatening the Bitcoin development community. - The court's decision is seen as a victory for the open-source community and a step towards curbing legal intimidation tactics used by Wright. - COPA urges further action against Wright for alleged forgeries, potentially leading to criminal proceedings in the UK for fraud and perjury.

“Overwhelming evidence” shows Craig Wright did not create bitcoin, judge says — Ars Technica

Jack Dorsey posted a "W," as judge halts Wright's suits against developers.

Seattle's Minimum Wage Experiment Disappoints An ordinance mandating a minimum earnings floor for app-based food delivery drivers in Seattle has led to a sharp decrease in food orders and driver earnings. The law, which went into effect in January 2024, aimed to protect gig workers but has resulted in customers abandoning delivery apps due to increased costs, and consequently, drivers experiencing a significant reduction in pay. Despite the intentions behind the policy, it has adversely affected local businesses, delivery drivers, and vulnerable populations relying on delivery services. Seattle's City Council appears reluctant to revise the legislation despite the negative outcomes. - The demand for food delivery in Seattle has plummeted, with companies like Uber Eats seeing a 30-percent order reduction and drivers' earnings halving compared to the previous year. - Additional costs to cover the ordinance, including a proposed 10-cent per-delivery fee set for 2025, predict continued challenges for delivery customers, drivers, and local restaurants.

Reason.com

Seattle law mandating higher delivery driver pay is a disaster

Just two weeks after the law went into effect, Seattleites had to contend with $26 coffees and $32 sandwiches.

SpaceX's Ambitious Spy Satellite Program SpaceX is developing a vast network of spy satellites under a secret $1.8 billion contract with the U.S. National Reconnaissance Office (NRO), marking an expansion of the company's engagements within the military and intelligence sectors. This network, engineered by the Starshield division, aims to enhance the U.S.'s surveillance capabilities significantly, contributing to more effective pinpointing of global targets and intelligence gathering. Amid controversies, including Elon Musk's recent clashes with the Biden administration and discussions around Starlink's use in Ukraine, this initiative underlines SpaceX's growing partnership with defense and intelligence agencies, illustrating a shift towards utilizing low-orbit satellite systems for comprehensive earth observation. - The Starshield network differs from SpaceX's Starlink internet constellation, focusing on high-end national security capabilities that promise near-continuous global coverage and rapid data sharing with U.S. forces and intelligence entities, embodying a critical asset in modern warfare and surveillance strategies. - The program is set against the backdrop of intensifying space race dynamics, with significant implications for military superiority and secure communications amidst rising concerns over space-enabled threats from adversaries like China and Russia. This initiative not only marks a technological leap but also a strategic maneuver in the evolving landscape of national defense and space exploration. https://www.reuters.com/technology/space/musks-spacex-is-building-spy-satellite-network-us-intelligence-agency-sources-2024-03-16/

SpaceX's Ambitious Spy Satellite Program SpaceX is developing a vast network of spy satellites under a secret $1.8 billion contract with the U.S. National Reconnaissance Office (NRO), marking an expansion of the company's engagements within the military and intelligence sectors. This network, engineered by the Starshield division, aims to enhance the U.S.'s surveillance capabilities significantly, contributing to more effective pinpointing of global targets and intelligence gathering. Amid controversies, including Elon Musk's recent clashes with the Biden administration and discussions around Starlink's use in Ukraine, this initiative underlines SpaceX's growing partnership with defense and intelligence agencies, illustrating a shift towards utilizing low-orbit satellite systems for comprehensive earth observation. - The Starshield network differs from SpaceX's Starlink internet constellation, focusing on high-end national security capabilities that promise near-continuous global coverage and rapid data sharing with U.S. forces and intelligence entities, embodying a critical asset in modern warfare and surveillance strategies. - The program is set against the backdrop of intensifying space race dynamics, with significant implications for military superiority and secure communications amidst rising concerns over space-enabled threats from adversaries like China and Russia. This initiative not only marks a technological leap but also a strategic maneuver in the evolving landscape of national defense and space exploration. https://www.reuters.com/technology/space/musks-spacex-is-building-spy-satellite-network-us-intelligence-agency-sources-2024-03-16/

Electronic Cattle Tracking Hidden in Omnibus Bill A provision in the new omnibus bill will allow electronic tracking of all cattle and bison in the United States, with Rep. Thomas Massie raising alarms about the $15 million taxpayer-funded initiative. The directive aims to support the Federal Animal Disease Traceability rule, primarily focusing on electronic identification tags. Critics, including Massie, argue this action exceeds legal boundaries and could be exploited to limit beef production in favor of "climate-friendly" alternatives, and potentially introduce genetically modified vaccines into the food supply. - Massie and attorney Tom Renz suggest the tracking scheme could have broader implications for food safety and sovereignty, highlighting its potential use in enforcing a green agenda against beef production. - The controversy sparks debate on legislative practices, with calls for single-item spending bills to avoid hidden agendas, reflecting broader political and social divides.

NaturalNews.com

Rep. Massie warns about fed plan to electronically track all U.S. cattle to stymie beef production – NaturalNews.com

Hidden deep within the new omnibus bill is a secret provision to allow the federal government to electronically track all cattle in the United Stat...

Securing the Cyber Frontier: Enhanced Compliance for Cloud Services The U.S. Department of Commerce proposes new regulations for Infrastructure as a Service (IaaS) providers to mitigate malicious cyber activities. The rules require enhanced customer identification programs, empower the Department to restrict service to certain foreign entities, and demand reporting of AI model training that poses security risks. This move aims to curb cyber threats and ensure the responsible development of technology. - The regulations introduce stringent identity verification akin to banking sector practices, necessitating significant adjustments by IaaS providers. - Providers may face hefty penalties for non-compliance, emphasizing the critical role of these measures in national security and the broader technology regulatory landscape. - Public feedback is encouraged until April 29, 2024, highlighting the collaborative approach to refining this pivotal cybersecurity initiative.

The National Law Review

U.S. Department of Commerce Publishes Proposed Rule Imposing “Know Your Customer” and Reporting Requirements on U.S. Infrastructure as a Service Providers

Department of Commerce DOC Bureau of Industry and Security BIS proposes rule making NPRM to protect US cloud computing service infrastructure products

Samourai Wallet Embraces Bitcoin Purity with New Update Samourai Wallet’s latest update, 0.98.87, marks a significant shift towards promoting Bitcoin's native token, BTC, over traditional fiat currencies. This decision to remove fiat currency conversions from the wallet is driven by the observation that referencing BTC in USD terms has led to confusion and a departure from the essence of Bitcoin. Despite the potential inconvenience and risk of losing users, the Samourai team believes it's crucial for users to engage with the Bitcoin economy in its native token. The wallet's interface will now display balances in satoshi units, the smallest bitcoin unit, to encourage thinking in Bitcoin terms. Furthermore, Samourai Wallet's dedication to privacy and user empowerment is underscored by its availability in 12 languages, thanks to the community's effort to provide high-quality, contextually appropriate translations. - International installs of Samourai Wallet have increased significantly, thanks to high-quality local translations, emphasizing the global demand for privacy-focused Bitcoin services. - The update also retains fiat conversion within its Sentinel Watch Only app for practical reasons, accommodating the needs of independent merchants and specific user cases. https://blog.samourai.is/wallet-update-0-98-87-welcome-new-international-users-and-saying-adieu-to-fiat-currency/

Exploring Bitcoin Covenants: Enhancing Transaction Control Bitcoin's capability extends to running smart contracts and enforcing complex spending conditions, quite contrary to common perception. Notably, covenants—advanced spending conditions—propose a transformative approach to Bitcoin transaction management, offering a level of control that could safeguard against unauthorized transactions, simplify congestion management, and potentially scale the Lightning Network. Concepts like Check Template Verify (CTV) and CheckTXHashVerify spotlight the technical underpinnings aiming to establish a secure, versatile transaction framework. These innovations pave the way for innovative use cases such as vaults for enhanced security, congestion control mechanisms to navigate transaction fees cleverly, and channel factories to augment the efficiency of the Lightning Network, thereby potentiating Bitcoin's utility beyond a mere currency. - Covenants could introduce a paradigm shift in Bitcoin security and utility, playing a pivotal role in future transaction management strategies. - The debate around the adoption and implications of covenants within the Bitcoin ecosystem underscores the community's cautious yet progressive approach to innovation.

BitBox Blog

What are Bitcoin covenants?

Let’s explore one of the future proposals that could make your Bitcoin transactions more powerful.

This will predict future bitcoin mining sites: MethaneSAT Launches to Track Global Methane Emissions A new satellite, MethaneSAT, is set to revolutionize the tracking of global methane emissions by accurately measuring levels across previously unreachable areas and pinpointing major emitters. Developed by the Environmental Defense Fund's subsidiary over six years and launching from California, it aims to increase accountability among the world's largest polluters and contribute to efforts in reducing greenhouse gas emissions. MethaneSAT will orbit the planet 15 times a day, providing valuable data to help adhere to recent global pledges to cut methane emissions significantly by 2030. This initiative represents a crucial step in combating climate change, as methane is a potent greenhouse gas responsible for a significant portion of global warming. - Methane's impact on climate change is substantial, with its atmospheric concentration more than doubling in the last two centuries, necessitating targeted reduction efforts. - The satellite's data will be accessible almost in real-time, aiding regulators, companies, and the public in evaluating progress towards international methane reduction commitments. https://thehill.com/policy/energy-environment/4507232-satellite-methane-pollution-california/

The Dilemma of Daylight Saving Time As daylight saving time approaches, health experts and sleep researchers argue against the switch, advocating for the adoption of standard time year-round due to its alignment with human circadian rhythms. Despite legislative efforts to make daylight saving permanent, evidence suggests that the transition disrupts sleep patterns, increases the risk of heart complications, and leads to a spike in accidents and cognitive issues. To mitigate the adverse effects of losing an hour of sleep, experts recommend gradually adjusting bedtime routines and exposure to morning sunlight. - Daylight saving time is criticized for its negative impact on health and safety, with evidence pointing to an increase in heart attacks, strokes, and accidents following the springtime clock change. - To combat the adverse effects of the time change, sleep professionals suggest gradually shifting sleep and daily routines in advance and ensuring adequate exposure to early morning light. https://www.axios.com/2024/03/07/daylight-saving-time-when-lose-hour-health

San Francisco Challenges Homelessness Ruling San Francisco has appealed to the U.S. Supreme Court to overturn a lower court's decision that restricts the city's ability to clear homeless encampments. The city submitted an amicus brief against the Ninth Circuit Court of Appeals ruling in Johnson v. Grants Pass, which protects the rights of individuals to sleep outside when no shelter is available. This legal challenge emerges as San Francisco, like many U.S. cities, grapples with a significant homelessness crisis, striving to blend compassionate social services with maintaining public spaces for the community's use. - The Supreme Court's upcoming review of the case could significantly impact homelessness policies nationwide. - San Francisco's legal action reflects its struggle to manage public health and safety while addressing the needs of its homeless population.

San Francisco urges SCOTUS to overturn homelessness ruling

In a filing with the U.S. Supreme Court on Friday, San Francisco came out squarely against a lower court's decision that firmly cements restriction...

Simple Steps to Secure Bitcoin Self-Custody Securing your Bitcoin investment requires simple, thoughtful steps to prevent loss through accidents or security breaches. This includes the use of hardware wallets like COLDCARD for secure storage, creating metal backups with a SEEDPLATE for durability against elements, and spreading encrypted backups in different locations for added security. Passphrases enhance security but require careful backup management. Testing your setup, choosing a compatible software wallet, and continuous learning are fundamental to maintaining and improving your Bitcoin self-custody arrangements. - Encrypted backups and passphrase security are crucial, but simplicity in your Bitcoin security setup can help avoid costly mistakes. - Continual education through podcasts and guides is essential for adapting to new security measures and technologies in the evolving landscape of cryptocurrency.

Bitcoin Security Guide - A simple and secure setup for your Bitcoin Self Custody

Step-by-step guide for securing your Bitcoin effectively. Keep it simple and don

Amazon Secures Data Center Campus from Talen Energy Amazon Web Services (AWS) has expanded its infrastructure with the acquisition of Cumulus Data, a 960MW data center campus at a nuclear power station in Pennsylvania, from Talen Energy for $650 million. This move underlines Amazon's commitment to boosting its cloud services capacity with environmentally considerate power sources, as the data center will draw clean, carbon-free energy from the neighboring Susquehanna Steam Electric Station. The deal also includes a 10-year Power Purchase Agreement (PPA) for AWS to receive energy from the site, showcasing a strategic blend of digital infrastructure expansion and sustainable energy utilization. - The acquisition underpins Amazon's strategic investments in sustainable and scalable cloud infrastructure, leveraging nuclear power as a green energy source. - This deal is part of broader trends where tech giants are increasingly investing in environmentally friendly solutions for their energy-intensive data centers.

AWS acquires Talen’s nuclear data center campus in Pennsylvania

Cloud company pays $650 million – plans 960MW campus

MicroStrategy Plans to Purchase More Bitcoin MicroStrategy Incorporated has announced its intention to issue $600 million in convertible senior notes, with an additional $90 million option, to finance further bitcoin acquisitions and general corporate activities. These notes, due in 2030, illustrate the company's ongoing commitment to integrating bitcoin into its treasury reserve strategy. The sale, aimed at qualified institutional buyers, reflects the company's broader vision of leveraging financial markets, advocacy, and technology innovation to support and develop the bitcoin network. - This strategic move underscores MicroStrategy’s position as a pioneer in adopting bitcoin as a primary treasury reserve asset. - The offering highlights the company's innovative approach to funding its bitcoin acquisition strategy, further blending the worlds of traditional corporate finance and cryptocurrency investment. https://www.microstrategy.com/press/microstrategy-announces-proposed-private-offering-of-600-million-of-convertible-senior-notes_03-04-2024

State Bills and the Illusion of Bitcoin Protection State-level legislative efforts to protect Bitcoin usage rights, such as mining and self-custody, confront an insurmountable obstacle: federal supremacy. Despite about a dozen states proposing bills to safeguard Bitcoin activities, the Supremacy Clause of the U.S. Constitution ensures that any federal policy conflicting with state laws renders the latter ineffective. These state bills, rather than offering genuine protection, might inadvertently heighten the risk of stringent federal regulations, fueling a potentially more hostile environment for Bitcoin due to perceived partisanship. - State efforts to make Bitcoin a legal tender have previously failed due to their contradiction with the Constitution, highlighting the ineffectiveness of current bills against federal opposition. - The symbolic nature of pro-Bitcoin state bills risks categorizing Bitcoin as a partisan issue, potentially inviting stricter regulations from opponents and undermining the principle of Bitcoin as a non-partisan technology. https://x.com/davidzell_/status/1763345682922914131

Texas Bitcoin Miners Win Temporary Reprieve A federal judge has temporarily blocked the Department of Energy's initiative to gather electricity consumption data from cryptocurrency miners, marking a victory for Texas Bitcoin mining advocates. This decision came in response to a lawsuit suggesting that the emergency data collection procedure bypassed public notice and comment, labeling it as an unwarranted attack on the sector. The crypto mining industry, criticized for its substantial energy consumption, has defended its practices by highlighting their capacity to enhance grid stability by voluntarily reducing operations during peak demand periods. - Cryptocurrency mining operations, especially prominent in Texas, have been under scrutiny for their high electricity usage and potential impact on grid stability and fossil fuel dependency. - The Texas Blockchain Council and Riot Platforms are pushing for a permanent injunction against the Department of Energy's data collection efforts, arguing it could cause competitive harm and infringes on lawful data gathering processes. https://www.houstonchronicle.com/business/energy/article/texas-bitcoin-council-doe-suit-18684690.php