"The US establishing a #Bitcoin Strategic Reserve, as proposed by Senanot Lummis, would rank among the most pivotal events in our economic history."
β Jack Mallers, CEO Strike
#Bitcoin Miners Face Efficiency Challenges as BTC Hits Record Highs
As Bitcoinβs price surges to all-time highs, mining companies are focusing on efficiency to stay competitive. Despite the boost in Bitcoinβs value, hash prices remain low, putting pressure on miners' revenue. Companies like Luxor Technology and Bitdeer are investing in more efficient rigs and proprietary technology to increase profitability. Riot Platforms and Core Scientific are also expanding operations, while advocating for favorable regulatory conditions in the U.S. under the incoming administration, signaling a strategic push for growth in the Bitcoin mining sector.
BitVMXβs Open-Source CPU project aims to brings scalable logic gate emulation to #Bitcoin.
This will enabled smart contract-like functionality on Bitcoin without altering consensus rules. This foundational approach allows BitVMX to perform complex computations off-chain by utilizing a challenge-response protocol built around a graph of pre-signed transactions.
"While a selection of devs and builders oportunistically grasp for base chain conscensus changes, others are busy at the forefront of genuine innovation!"
Vitalik Buterin spoke at Devcon 2024, unveiling Ethereum's narrative and roadmap, and stated that Ethereum is the world computer.
"Sadly though... there is already a larger and more diverse world computer... it's called the internet!"
Analysis:
#Bitcoin Market Cap
- U.S. $1.60 trillion.
βοΈβοΈβοΈβοΈβοΈβοΈβοΈ
π°π· South Korea GDP 2024
- U.S. $1.76 trillion.
π¦πΊ Australia GDP 2024
- U.S. $1.77 trillion.
πͺπΈ Spain GDP 2024
- U.S. $1.58 trillion.
π΄ Google Market Cap
- U.S. $2.19 trillion.
π Amazon Market Cap
- U.S. $2.21 trillion.
Where do you stand?
OP_CAT was a #Bitcoin script operation for concatenating data strings, adding flexibility for more complex smart contracts.
It was removed by Satoshi in 2010 due to vulnerabilities, including risks of DDoS attacks and misuse for inefficient or malicious scripts.
A new Bitcoin Improvement Proposal (BIP) suggests reintroducing OP_CAT to the Bitcoin code with a soft fork.
Will it offer essential functionality for Bitcoin scaling and adoption, or is it just a sloppy foolish shortcut for developers seeking overnight results? Should it be approved?
