• British banks such as Nationwide and HSBC have tightened regulations on cryptocurrency purchases via debit cards and credit cards.
• Most of the major U.K. banks have implemented exchange-specific restrictions, with Binance Holdings Ltd. being the most popular target.
• NatWest Group CEO Alison Rose cited instability and volatility, as well as potential fraud risks on social media platforms, as reasons for taking a “pretty hard line” on crypto purchases.

U.K Banks Restricting Cryptocurrency Purchases

British banks are tightening their regulations on cryptocurrency purchases via debit cards and credit cards, with Nationwide setting daily limits of £5,000 ($5,965) on cryptoassets bought by debit card and prohibiting credit card purchases altogether. HSBC has also blocked customers from making crypto purchases via its credit cards since last month.

Exchange-Specific Regulations

Most of the major U.K. banks have imposed exchange-specific restrictions, with Binance Holdings Ltd., the world’s largest crypto platform, being the most popular target. These new rules limit citizens’ ability to acquire Bitcoin within in the country and emphasize the need for more decentralized peer-to-peer exchanges that can facilitate no-KYC bitcoin transactions without relying on large financial institutions like banks or other third parties involved in traditional financial transactions.

Reasoning Behind Restrictions

NatWest Group CEO Alison Rose stated that they had taken a “pretty hard line” on cryptocurrencies due to their instability and volatility, as well as potential fraud risks stemming from social media platforms and technology platforms that could be exploited by malicious actors looking to take advantage of unsuspecting investors or users in general.. She cited these factors as the primary source for why NatWest Group was implementing such strict measures when it comes to purchasing cryptocurrencies with their services or products (i.e., debit/credit cards).

Implications of Restrictions

These new limitations put U.K citizens at a disadvantage when it comes to acquiring bitcoin through traditional means like banks or other third parties involved in traditional financial transactions . As more developments take place regarding this issue it further highlights the need for more decentralized peer-to-peer exchanges that can facilitate no-KYC bitcoin transactions without relying on large financial institutions like banks or other third parties involved in traditional financial transactions..

Conclusion

In conclusion , British Banks such as Nationwide and HSBC have implemented restrictions against cryptocurrency purchases via debit/credit cards due to alleged financial risks associated with them . This is causing citizens of U.K difficulty when it comes to acquiring Bitcoin through traditional means . Therefore , there is an increasing need for more decentralized peer -to -peer exchanges which can facilitate no – KYC Bitcoin transactions without relying upon large banking entities .

• The fall of FTX, a crypto empire that defrauded investors, customers and employees to the tune of $8 billion, shook up the ecosystem.
• In 2014, Mt. Gox, the world’s largest bitcoin exchange went bankrupt due to a series of hacks and mismanagement issues.
• Mark Karpeles’ lack of expertise in running Mt. Gox led to its eventual downfall as attackers took advantage of transaction malleability on the exchange.

Overview

The fall of FTX, a crypto empire that defrauded investors, customers and employees to the tune of $8 billion, rattled the ecosystem. This was not the first time a failure of such magnitude had happened in this space; in 2014 Mt. Gox, the world’s largest bitcoin exchange at that time went bankrupt following a series of hacks and mismanagement issues resulting in customers losing over 800,000 bitcoin.

Mt Gox History

Tokyo-based Mt. Gox was originally registered in 2007 to host a trading site for the wildly popular “Magic: The Gathering” game cards before it began operating as a rudimentary bitcoin exchange in late 2010 with Mark Karpelès taking over ownership soon after. His lack of experience eventually led to its downfall due to inadequate management and technical aspects which opened up avenues for attackers who used transaction malleability on it multiple times over several years leading up to its closure in February 24th 2014 .

Transaction Malleability Explained

When receiving withdrawal requests from customers ,the exchange would observe Bitcoin blockchain for confirmation using transaction ID —a hash constructed from transaction data which is only final once confirmed on blockchain . However , attackers can alter parts (not including inputs & outputs )of transactions which creates different IDs making it seem like successful withdrawals never happened thus causing confusion & loss for company .

Mark Karpeles Role

As CEO , Mark Karpelès failed to properly secure platform by beefing up web platform code so as handle increased volume or transactions & buy/sell orders & ultimately couldn’t save business from ruin caused by hackers exploiting weaknesses .

Conclusion

The fall of both FTX & MT Gox demonstrate how cryptocurrency still has many flaws when it comes down to security especially if key personnel don’t have adequate expertise & understanding about technology being used . It also shows how quickly massive losses can occur if proper security protocols aren’t followed .

• Mickey Koss was not invited to write for Bitcoin Magazine, but he found their article submission link and they liked his idea.
• After receiving a scathing review from the editor, Mickey realized that it did not mean he had failed as an author.
• Despite his initial fear of promoting his own content, the Bitcoin community supported him and gave him the courage to keep going.

Finding My Voice in Bitcoin Writing

I am Mickey Koss, a West Point graduate with a degree in economics. After four years in the infantry, I transitioned to the Finance Corps. One day while looking for a customer service email address, I stumbled upon Bitcoin Magazine’s article submission link and decided to try my luck by submitting an article idea. Much to my surprise, they liked it and I got hooked on writing! Although my second article submission was rejected with a scathing review from the editor, this feedback allowed me to adjust my strategy and change my frame of mind. Eventually, I wrote enough articles that I felt confident sharing them on social media — starting with LinkedIn — which opened up even more opportunities for me than before.

Realizing My Potential

The rejection of my second article didn’t mean that I was doomed as an author; instead, it served as a great learning point that helped me improve my skillset and grow as a writer. In fact, one of these rejected drafts eventually went live on Bitcoin Magazine! This experience taught me that if you never give up despite possible failure or criticism — like most things in life — you will find success eventually. Furthermore, this newfound passion has also led me to new relationships within the Bitcoin community who are incredibly supportive and helpful in every way imaginable: from giving feedback on drafts to offering advice when needed.

Overcoming Fear

At first though, I was afraid about what other people would think or how they would react once they found out about the articles I was writing for Bitcoin Magazine. But after getting over this initial fear with encouragement from friends and family along with support from members within the community itself — who were just as eager to learn about cryptocurrency as myself — I started to feel more confident promoting my own work online too!

Gaining Experience & Making Connections

But even then there were still new hurdles along the way; such as when one of my editors hired me behind-the-scenes for his fairly large YouTube channel related to cryptocurrencies! This opportunity allowed me gain more experience while also broadening both personal contacts and professional networks within the industry at large since then too. As such experiences have shown time again – whether it is through knowledge gained during research or relationships established through collaboration – investing your time into something like cryptocurrency can be very rewarding indeed!

The Plea To Everyone Out There Reading This

This plea is directed towards everyone reading this: don’t limit yourself because of your lack of experience or resources; take risks regardless of what others may say because you never know where it may lead you…like how it led me here writing an opinionated editorial for all you plebs out there!

• A UK court ruled against Craig Wright, denying his claim that he had copyright over Bitcoin’s code.
• This is the latest in a series of rulings against Wright and demonstrates that Bitcoin is open-source and not copyrighted.
• The ruling serves as a victory for open-source developers and the Bitcoin community, ensuring that anyone can contribute without fear of legal repercussions.

Ruling Against Craig Wright

A United Kingdom court has ruled against Craig Wright, indicating that he has no copyright claim over Bitcoin’s code. According to the Tuesday ruling, Wright’s claim that the formatting of Bitcoin blocks is his intellectual property failed in the court of law, due to the inability to demonstrate what is known as “fixation.”

Fixation

Fixation describes the ability to show the first recording of a piece of work, which Wright could not do. This is the latest in a series of court rulings against Wright’s favor, with the Norwegian courts ruling against him in the case against Hodlonaut, and the United Kingdom ruling against him in his case with Peter McCormack.

Fear Among Developers

For Bitcoin developers and open-source code developers, the attacks by Craig Wright have been a moment of hesitancy and even fear. The litigation that ties up developers as a result of these lawsuits is incredibly expensive and creates major problems in their lives. While funds have been put together before to support those who need it, rulings that reinforce Bitcoin’s open-source nature are important precedents for development teams.

Victory for Open Source Community

This ruling serves as a victory for open source developers and Bitcoiners alike by ensuring access to its development without fear of legal repercussions or limited access due to copyrights on coding language formats.

Fundraising Support

To further support those affected by this type of litigation fundraising campaigns are often organized by members within this community so they can continue their contributions safely and securely while being prepared incase any legal issues arise from their efforts.

• Luxor Technologies has launched the first ever ASIC RFQ platform with the goal of maximizing market transparency and access.
• The platform will offer buyers major flexibility and allow them to specify orders by a variety of criteria.
• Sellers and brokers will benefit from the platform’s auction-style bidding process, which is transparent and volume-based.

Introduction

Luxor Technologies, a full-stack Bitcoin mining software and services company, has launched the first request-for-quote (RFQ) platform for buying and selling Bitcoin mining hardware. The goal of this platform is to maximize market transparency and access.

What Is An RFQ?

An RFQ is a marketplace where users can create orders (requests) for specific items. Luxor’s double-sided RFQ allows both buyers and sellers to create requests for Bitcoin mining ASICs. This system will theoretically improve the transparency of the market, while allowing for easier access and more precise market pricing.

Benefits Of The Platform

The platform will offer major flexibility to buyers, allowing them to specify orders by quantity, condition, model type, location and more. In addition to this, sellers will be able to mix-and-match models from different manufacturers in their orders. The platform’s auction-style bidding process will benefit sellers and brokers as it is transparent and volume based so that market makers can transact in a larger way.

Conclusion

Bitcoiners interested in learning more about Luxor’s RFQ can visit the RFQ website or contact the company at: sales@luxor.tech.. Additionally, those looking to increase their deal flow or facilitate more transactions should consider leveraging this new system as it offers increased liquidity in the secondary market, improved price discovery as well as expediting mining hardware procurement processes.

Contact Info

To find out more about Luxor’s RFQ Platform visit: https://www.luxorrfq.com/ or contact Luxor directly at: sales@luxor.tech

• Arizona State Senator Wendy Rogers has introduced a set of bills to make bitcoin legal tender and allow state agencies to accept it.
• The legislation defines bitcoin as “a decentralized, peer-to-peer digital currency” and allows it to be used for paying debts, taxes and other financial obligations.
• El Salvador’s adoption of bitcoin as legal tender has encouraged growth and investment in the country, with several other US states showing increasing interest in its benefits.

Senator Wendy Rogers Introduces Bills Making Bitcoin Legal Tender

Arizona State Senator Wendy Rogers has introduced a set of bills that would make bitcoin legal tender in the state and allow state agencies to accept payments made with cryptocurrency. This is the second time Sen. Rogers has attempted to pass such legislation; her previous attempt died during the second reading.

Legal Tender Definition

The proposed bill specifically defines bitcoin as “the decentralized, peer-to-peer digital currency in which a record of transactions is maintained on the Bitcoin blockchain and new units of currency are generated by the computational solution of mathematical problems and that operates independently of a central bank”. It also states that any transaction currently done in U.S. dollars can be done with bitcoin instead if desired by individuals or businesses.

Acceptance Bill

The acceptance bill included within Sen. Rogers’ proposed legislation says that “A state agency may enter into an agreement with a cryptocurrency issuer to provide a method to accept cryptocurrency as a payment method of fines, civil penalties or other penalties, rent, rates, taxes, fees, charges, revenue, financial obligations and special assessments to pay any amount due to that agency or this state”.

Impact Of El Salvador’s Adoption Of Bitcoin

El Salvador’s recent adoption of Bitcoin as legal tender has been beneficial for growth and investment in the country; this has encouraged further interest from US states like Texas, New Hampshire, Missouri and Mississippi regarding its potential benefits for their citizens too.

Conclusion Although it may appear there are slim chances at present for Sen. Rogers’ bills passing this time around in Arizona , increased levels of US state interest in Bitcoin could contribute towards its eventual success .

• I gave my sister an unusual gift for her 18th birthday – The Orange Pill
• The Orange Pill is a process of introducing Bitcoin as an investment and form of financial freedom
• I wrote a letter to my sister explaining the benefits of owning Bitcoin

Gifting My Sister the “Orange Pill” on Her 18th Birthday

I wanted to give my sister something special for her 18th birthday, so I decided to orange pill her. To do this, I gave her a copy of “The Bitcoin Standard” by Saifedean Ammous and a hardware wallet. This was accompanied by a letter that outlined why I thought it was important for her to own Bitcoin.

Why Give My Sister the Orange Pill?

I believe that the best gift I can give my sister is the orange pill – setting her on the path towards financial freedom. In an economy where dishonest relationships have been normalized, she can be a sovereign woman with full control over her finances. Furthermore, since she is still in high school and doesn’t know what she wants to study in college, owning Bitcoin may provide some ideas and opportunities for her future career path.

Beginning the Process

Before beginning the journey towards understanding Bitcoin, we started with a quote from “The Bitcoin Standard” prologue:

“This book does not offer investment advice, but aims at helping elucidate the economic properties of the network and its operation, to provide readers an informed understanding of bitcoin before deciding whether they want to use it.”

We discussed this quote multiple times before moving onto further steps such as researching practical operational aspects of owning and storing bitcoins and looking into hacks, attacks, scams, etc., which could cost people their bitcoins if not taken seriously.

Final Thoughts

By gifting my sister with this knowledge about Bitcoin at such an early age she will have time to become familiar with it before making any decisions about investing in it. My main goal when giving this gift was for her to understand more about cryptocurrency so that she can make informed decisions about investing in it or using it as a form of financial freedom in years to come.

Conclusion

By giving my sister “the orange pill,” I hope that she will be able to appreciate how powerful cryptocurrencies are becoming and how they could potentially help shape our collective future. As someone who has been mining Bitcoins since 2021 myself, it was important for me to share these insights with someone close who might benefit from them!

• Sam Bankman-Fried, FTX, SOL, CEL, XRP, ETH, etc. are some of the high-profile crypto scams and scammers.
• Houston Attorney Andrew J. Cobos is currently handling a legal dispute involving an elderly woman who was allegedly scammed out of her $80,000 bitcoin investment.
• The case is set to go to trial in Spring 2023 in Harris County, Texas and the plaintiff accuses the pastor of stealing her bitcoin by using her private keys.

Houston Attorney Andrew J. Cobos of the Cobos Law Firm has recently been handling a legal dispute involving an elderly woman who allegedly lost her investment of $80,000 in bitcoin to a scammer. This case is one of many examples of the low-profile crypto ripoffs that fly under the mainstream media radar.

The elderly woman in question was approached by a young pastor at her church in 2017 who encouraged her to invest in bitcoin by transferring her money to him. Both of them entered into an oral agreement that the pastor would use her money to buy bitcoin and store it for her safely. However, the plaintiff now accuses the man of stealing her bitcoin by using her private keys. According to the lawsuit, the pastor purchased and held the bitcoin for the elderly woman until July 2020, when the woman requested that the bitcoin be returned. The pastor then set up a Trezor hardware wallet containing 7.742 bitcoin and gave the woman the device along with a seed phrase card that the pastor had completed. Days later, the woman opened the Trezor to find that all of her bitcoin had been removed from the device. Cobos alleges that the pastor maintained a copy of the seed phrase card and recreated the wallet after giving her the Trezor and then transferred all of the bitcoin to a separate wallet that he controlled.

The case is set to go to trial in Spring 2023 in Harris County, Texas (case number 2021-51487). By handling this case, Cobos hopes to raise awareness of the many crypto scams that are out there and is urging people to be careful when investing in bitcoin and other cryptocurrencies. He also reminds investors to always get a written contract in place before investing and to thoroughly read the fine print. With these precautions, hopefully, investors can avoid becoming victims of crypto scams.

• MicroStrategy plans to release software applications and solutions powered by the Bitcoin Lightning Network in 2023.
• Michael Saylor, executive chairman of MicroStrategy, discussed how the company is exploring Lightning services for online content monetization, enterprise marketing, web paywalls, and internal corporate controls.
• MicroStrategy will be featuring a “Lightning for corporations” agenda at its upcoming Bitcoin event, which should dive deeper into the company’s plans for driving greater adoption.

MicroStrategy, the software firm headed by executive chairman Michael Saylor, has announced that it will be releasing a suite of software applications and solutions powered by the Bitcoin Lightning Network in 2023. The announcement was made in a Twitter Spaces room on Wednesday, where Saylor discussed the various ways in which his company is looking to branch out of regular software applications and into Bitcoin.

In addition to its existing plans to buy and hold BTC, MicroStrategy is seeking to provide enterprises with tooling for the Bitcoin and Lightning ecosystem. Saylor said that the company wants to make it possible for any enterprise to spin up Lighting infrastructure in an afternoon and onboard thousands of employees or customers. Areas that MicroStrategy is exploring for Lightning services include online content monetization, enterprise marketing, web paywalls, and internal corporate controls.

Saylor also mentioned that every chief marketing officer should be able give away satoshis –– Bitcoin’s smaller denomination unit –– as incentive for customers to post reviews or give feedback. The company is currently working on the project, and expects to show something in the first quarter of next year.

To further discuss its plans and drive greater adoption, MicroStrategy will be hosting a special Bitcoin event, which will feature a “Lightning for corporations” agenda. The agenda will dive deeper into the company’s plans for exploring and contributing to the Bitcoin and Lightning ecosystem.

Overall, MicroStrategy’s plans to release software applications and solutions powered by the Bitcoin Lightning Network are aimed at bringing greater accessibility to the blockchain and cryptocurrency space. The company’s upcoming Bitcoin event is expected to provide more insight into the project and how it intends to make it easier for enterprises to onboard into the Bitcoin and Lightning ecosystem.

• Gigi’s article, “The Freedom of Value,” breaks down the issue of monetizing online content into two distinct reasons, the “MTX problem” and the “DRM paradox.”
• The “MTX problem” refers to the irreducible mental transaction costs inherent to every transaction, while the “DRM paradox” states that content will only stay behind paywalls if it sucks.
• This article respectfully challenges the idea that paywalls versus #value4value is an all or nothing situation and proposes the possibility of other solutions to the MTX problem.

Paywalls versus #value4value has become a hot topic of debate in the crypto and content creation communities. Many members of the crypto community have argued that paywalls are the only way to properly monetize content, while others have proposed the concept of #value4value, or exchanging value directly for content. In Gigi’s article, “The Freedom of Value,” he breaks down the issue of monetizing online content into two distinct reasons, the “MTX problem” and the “DRM paradox.”

The “MTX problem,” with MTX being short for “mental transaction,” refers to the problem of irreducible mental transaction costs inherent to every transaction. Every time you hit a paywall, you have to make a conscious decision: “Do I want to pay for that?” This problem is not only faced by consumers, but also by content creators, as it is a lot of work to write good content, and they don’t want to work for free.

The “DRM paradox” states that content will only stay locked behind paywalls if it sucks. If it’s good, it will be set free. This paradox is a tricky one, as content creators don’t want their work to be stolen and redistributed, but they also don’t want to put a paywall up and risk no one paying for it.

Gigi acknowledges that the “DRM paradox” has no solution and that the “MTX problem” is a bigger deal than the “DRM paradox.” This article respectfully challenges the idea that paywalls versus #value4value is an all or nothing situation and proposes the possibility of other solutions to the MTX problem.

One potential solution is to use a subscription model for content creators. This would allow for content to be released for free, but access to the entirety of the content would require a subscription. This model would allow people to sample content, but if they want to access the whole thing, they would need to pay. This way, content creators are still able to get paid for their work, but they aren’t putting up a paywall and risking not making any money.

Another potential solution is to use a “freemium” model. This model would allow content creators to release some of their work for free, while other content would require a payment to unlock. This would give people a chance to sample the content before deciding to pay for it, and it would also reward people who pay for the content with exclusive access.

Finally, another potential solution is to use cryptocurrency-based micropayments for content. This would allow content creators to charge small amounts for their content, which would be less off-putting for potential customers than a large paywall. This would also allow for content creators to charge for content without having to put up a paywall, as the payment would be processed instantly.

Paywalls versus #value4value is an important debate, and both sides have valid points. However, it is important to remember that this is not an all or nothing situation. There are other solutions to the “MTX problem” that can provide content creators with a way to monetize their work while still allowing customers to access their content. With the right models in place, content creators and customers can both benefit from the exchange of value.