Gold, fiat, banking, and Bitcoin: the day of reckoning cometh

The “ridiculously wasteful, malignant, guzzling” of electricity by Bitcoin miners is “illegally siphoning power, causing countrywide blackouts, not remotely sustainable, and is ruining the planet.”

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On the shoulder of giants: Lightning Network Protocol 1.0

“If I have seen further it is by standing on ye shoulders of Giants.”— Isaac Newton, 1675

On December 6, 2017, Lightning Developers, a medium.com publisher representing the three main parties (ACINQ, Blockstream, and Lightning Labs) that together are building the Lightning Network protocol, announced that Lightning Protocol 1.0 is operational. All tests were passed, and the first multi-client Lightning transactions was successfully completed on the Bitcoin mainchain.

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US senate bill S.1241 to criminalize concealed ownership of bitcoin

On November 28, 2017, the US Senate, Committee of the Judiciary held a hearing regarding bill S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing. Despite little attention being given to digital currencies during the hearing, bill S.1241 itself would amend the definition of ‘financial institution’ in the United States Code to include digital currencies and digital exchanges. This could have alarming consequences for users of cryptocurrencies both in the US and abroad.

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