• TBD, a Bitcoin-focused subsidiary of Jack Dorsey’s Block, announced c=, a new Lightning Network business.
• The purpose of the company is to provide infrastructure using bitcoin from Block’s treasury to make the Lightning Network more reliable and dependable for developers and businesses.
• c= will provide liquidity to enable transactions, collaborate with developers to provide more efficient routing and liquidity via APIs and services.

TBD Announces New Business: c=

TBD, a Bitcoin-focused subsidiary of Jack Dorsey’s Block, has announced a new Lightning Network business called c=. The purpose of the company is to “provide infrastructure using bitcoin from Block’s treasury to make bitcoin’s Lightning Network more usable and reliable for developers, businesses (such as merchants that accept Lightning payments), and those businesses’ end consumers.”

Making Transactions More Reliable

The release explains that the Lightning Network is still growing, and that transactions often fail due to liquidity shortfalls. In order to address that, “c= will build infrastructure using the bitcoin it is committing to the network so that businesses and wallets can make their Lightning transactions more reliable and dependable.”

Connections & Efficiencies

“Operating a node on the Lightning Network is all about connections; c= provides node operators — whether bitcoin wallets, individuals, or other entities that want to use the Lightning Network — with valuable connections to Lightning,” describes the announcement. “Through c=’s LSP, any business or individual running a Lightning node can gain efficiencies and make their transactions via Lightning with minimal effort and investment without having to rely on an intermediary to custody their bitcoin.”

Providing Liquidity

For Lighting node operators, c= states that it will provide liquidity yo enable transactions as well as “collaborate with developers tonprovide more efficient routing adn liquidity o node operators via APIs no services.”

A Major Presence in Bitcoin Scaling Protocols

In 2022 when Square was renamed Block TBD’s lead Mike Brock stated how they were ”building a new open source company from t ground up focused on oprn protocols d open standards that all participants in te economy can benefit from.” Now with this entrance into Bitcoin’s second layer scaling protocol TBD will have major presence in lightning infrastructures.

Summary of the Article

• Sam Bankman-Fried was arrested in December and is facing eight criminal charges relating to fraud, money laundering and campaign finance laws.
• Federal prosecutors have now added four new charges to his list, including conspiracy to commit bank fraud and operate an unlicensed money transmitter.
• The indictment also examines how SBF utilized others to contribute to political movements that he did not want himself or his business entities to be tied to.

Background of Sam Bankman-Fried

Sam Bankman-Fried (SBF) was arrested in December in the Bahamas for allegedly running a cryptocurrency exchange empire with immense failure. This led to regulatory scrutiny as well as impacts on the industry. Federal prosecutors have announced a new indictment of Sam Bankman-Fried with four additional criminal charges.

Charges Against SBF

SBF is currently facing eight counts by the United States Southern District Court of New York. These include: conspiracy to commit wire fraud on customers, wire fraud on customers, conspiracy to commit wire fraud on lenders, wire fraud on lenders, conspiracy to commit commodities fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering and conspiracy t defraud the United States and violate the Campaign Finance Laws. The four additional charges include: conspiracy to commit bank fraud and operate an unlicensed money transmitter.

Details Alleged by Prosecutors

The document alleging these new charges starts with the claim that “From at least in or about 2019, up to and including in or about November 2022, Samuel Bankman-Fried corrupted the operations of the cryptocurrency companies he founded and controlled.” It further alleges that instead of protecting their customer’s interests through segregation of assets as promised; SBF used their assets for private expenditures without disclosing this risk resulting from this decision. It also claims that while publicly claiming FTX operated independently from Alameda’s cryptocurrency trading & investments; this was not actually true due its design by SBF himself.

Illegal Donations Examined

The indictment further examines how SBF utilized others for substantial contributions for candidates across both major political parties without wanting his name publicly attached or associated with them either way – leaning neither left nor right.

Conclusion

In conclusion, federal prosecutors have added four more criminal charges against Sam Bankman- Fried (SBF), who was previously charged with eight counts since his arrest late last year over issues related with his failed FTX exchange empire. These include: conspiring bank fraud & operating an unlicensed money transmitter as well as examining his utilization of others for donations which he wanted no association with either way – left or right leaning politically

• CleanSpark Inc. has purchased 20,000 brand new Antminer S19j Pro+ units for $43.6 million.
• After coupons, the company will pay $32.3 million, which is expected to expand their bitcoin production capacity by 37%.
• 15,000 of these machines are planned to be deployed at their Washington, Georgia facility with deliveries starting as early as next month and ending in May 2023.

CleanSpark Purchases Antminer S19j Pro+

CleanSpark Inc. recently announced the purchase of 20,000 brand new Antminer S19j Pro+, the latest generation of Bitmain’s bitcoin mining machines, for a total of $43.6 million after discounts. This purchase is estimated to increase their bitcoin production capacity by 37%, adding 2.44 exahashes per second (EH/s) when installed.

Deployment Plans

15,000 units from this order will be deployed at CleanSpark’s wholly-owned bitcoin mining locations in the USA with its Washington, Georgia facility being the primary location – although there may be some changes depending on the development of the site and order fulfillment speed from Bitmain itself.

Capital Management Strategy

The capital management strategy employed by CleanSpark includes reinvesting a major portion of mined bitcoins back into growth initiatives – manifesting in this expansion effort with Antminers Pro+. The models purchased are more power-efficient and 22% more productive than its predecessor S19j Pro model with deliveries starting as early as next month and ending in May 2023 at all their campuses.

CEO Comments

CEO Zach Bradford commented on this acquisition stating that “Building and owning our mining campuses at multiple locations provides us with a level of agility and reliability that cannot be achieved otherwise.” He further added that “We exercise tremendous control over our infrastructure and therefore our ability to be highly efficient in the way we allocate our resources.”

Conclusion

This massive purchase is part of CleanSpark’s capital management strategy which seeks to reinvest most mined bitcoins back into growth initiatives like these expansions while also providing them significant control over their infrastructure for more efficient resource allocation among other benefits.

• Multisig security offers a different set of security guarantees than single-signature solutions cannot.
• A multisig wallet is a “vault” that coordinates between multiple signing devices for signing transactions.
• Minimizing trust, operational effort, and setup costs are considerations for bitcoin custody when using multisig wallets.

What is Multisig?

Multisignature security, or “multisig,” is a type of wallet that can talk to multiple signing devices and coordinate between them for signing transactions (generally using the PSBT format). It is often referred to as an “m-of-n,” where you need “m keys out of n” to sign a transaction. An output descriptor or bitcoin secure multisig setup (BSMS) is used to define the configuration of a multisig.

Benefits of Multisig

The obvious advantages of having multiple signers are to reduce single points of failure and increase redundancy in your setup. With multisig, trust in any one entity can be minimized as multiple entities are involved. Additionally, common examples of attacks on multisig can be applied even with singlesig custody.

Considerations When Using Multisignature

Setting up and using multisig can be operationally more time consuming and include more pitfalls if not done correctly; therefore it should only be considered for long-term HODLing where regular transactions are not anticipated. Additionally, there may be additional setup costs associated with multi-vendor solutions when compared to single-signature solutions.

When To Use Single Signature?

Single signature solutions are great forms of custody when one is just getting started with Bitcoin or managing small amounts; however, anyone holding a non-trivial amount of Bitcoin for the long term should evaluate a multisignature option due to its added benefits and security guarantees.

Conclusion

Ultimately, both single signature and multi signature solutions offer their own unique sets of benefits and drawbacks depending on the user’s needs; therefore it’s important for users to consider which type best meets their specific use case before setting up any form of Bitcoin custody solution.

• Madeira is a Portuguese island 600 miles off the coast of Portugal and has become an up-and-coming Bitcoin base.
• Pleb Music recently shot a Bitcoin documentary on the island to highlight its potential for cryptocurrency adoption.
• The island’s development is limited by its size, with tourism, remittance, trade and ecotourism as key sources of income.

What is Madeira?

Madeira is a small Portuguese island located 600 miles off the coast of Portugal in the Atlantic Ocean. It has become popular amongst tourists thanks to its stunning scenery, warm climate and diverse cultural heritage. Low-cost airlines offer regular flights to various European capital cities while there are also direct services to New York City.

Why do Bitcoiners Talk About Madeira?

Madeira has been identified as an up-and-coming Bitcoin base due to its potential for cryptocurrency adoption. This summer, Pleb Music produced a documentary highlighting this potential through interviews with local experts and stunning drone footage of the island.

What are the Major Sources of Income in Madeira?

Tourism is one of the major sources of income in Madeira as it offers visitors Instagram-worthy landscapes and pleasant temperatures throughout most of the year. Additionally, locals often send remittance back home from abroad while tea, wine and other goods are exported from ports on the island. Ecotourism initiatives have also been launched in recent years to keep money flowing during low seasons.

What Does Madeiran Cuisine Have to Offer?

Madeiran cuisine has something to offer everyone; from espetada (similar to a posh kebab) made with local meat skewers, steak dishes and fresh fish options – all washed down with some local passionfruit or banana!

Conclusion:

In conclusion, it’s clear that Madeira should now feature on any traveling Bitcoiner’s bucket list! From breathtaking views and delicious food offerings to natural resources that can be used for crypto trading – this small Portuguese Island certainly packs a punch when it comes to potential for cryptocurrency adoption!

• The U.S. Department of Justice has announced the closure of the Bitzlato cryptocurrency exchange, along with the FBI’s arrest of its owner Anatoly Legkodymov.
• The DOJ alleges that Bitzlato facilitated more than $700 million in transactions involving illicit funds from 2018-2022.
• This announcement comes at a time when law enforcement and regulators are increasing their scrutiny on cryptocurrency exchanges such as Gemini and Genesis, FTX and their respective hubs.

Closure of Bitzlato Exchange

The U.S. Department of Justice (DOJ) has announced the closure of the Hong Kong-based Bitzlato cryptocurrency exchange, along with the FBI’s arrest of its owner Anatoly Legkodymov for allegedly running an illicit cryptocurrency network to evade sanctions, launder money, and conceal crimes.

Bitzlato Transactions

The DOJ alleges that Bitzlato facilitated more than $700 million in transactions involving illicit funds from 2018-2022; however, at the time of the live stream, tagged wallets associated with Bitzlato only had $11,000 on them compared to a peak balance of $6 million.

Increasing Scrutiny

This announcement regarding Bitzlato comes at a time when law enforcement and regulators are increasing their scrutiny on cryptocurrency exchanges such as Gemini and Genesis, FTX and their respective hubs. In a live stream hosted by representatives from law enforcement bureau, officials warned criminal actors that breaking U.S laws will result in having to answer for those crimes inside a United States courtroom regardless of residence or location.

Potential Frustration

The discrepancy in volume between this event ($6 million) versus other recent collapses (Three Arrows Capital), who many alleged to be scams in their own right ($100 million+), could potentially frustrate those desiring proper law enforcement in the industry.

Conclusion

To conclude, while authorities are continuing to take action against illegal activities related to cryptocurrencies across various jurisdictions , it remains unclear how effective this approach can ultimately be given how much money is involved in some cases compared to others .

• Julia is originally from Germany and moved to Portugal at 19 years old after taking a job opportunity.
• She has since settled down and built a homestead in Portugal that feeds her family.
• Julia is also involved in her local Bitcoin community and has seen first-hand the potential it has to revolutionize the economy.

Julia is a German expat who has made her home in Southern Portugal. She moved there at the age of 19, looking for a job and found one that stayed with her for the long haul. After settling down in Portugal, Julia set up a homestead which now feeds her family. In addition to this, Julia is also part of her local Bitcoin community, as she has seen first-hand the potential it has to revolutionize the economy.

In a conversation with Julia, it was clear that she found many parallels between homesteading and Bitcoin. For both, there is a high upfront investment and a very low time preference. Julia’s discussions also touched on her backstory of moving to Portugal, the growth of the Bitcoin meetup in her local community and what it takes to operate a homestead that feeds her family.

Julia explained that when she was 19, she wanted to travel and so she looked around for some jobs. She found an opportunity to work in Portugal for three months and it turned out to be the start of her long-term stay in the country. Her parents eventually moved over with her brothers shortly after her and she has returned to Germany only a few times in the past 15 years.

Julia has since developed her local community and is involved in her local Bitcoin meetup. She believes that Bitcoin has the potential to revolutionize the economy and that it can be a powerful tool for people to use in order to gain more financial independence.

When asked what it takes to operate a homestead that feeds her family, Julia explained that it demands a lot of hard work and dedication. She believes that homesteading is a great way to become more self-sufficient and to be able to provide for yourself.

Julia’s story is a testament to the power of resilience and self-determination. She has overcome many challenges to make a life for herself and her family in Portugal, and her involvement in her local community and Bitcoin meetup is an example of how one person can make a positive difference in their local area.

• In 1889, Puerto Rico suffered a 40% currency devaluation, caused by the United States declaring the U.S. dollar as legal tender of Puerto Rico.
• This resulted in Puerto Ricans borrowing money from the American Colonial Bank, but high interest rates made it very unlikely that locals were going to be able to pay back their loans.
• With the recent introduction of Bitcoin, Puerto Rico now has the potential to gain its own independence and identity, without being held back by the U.S. dollar.

Puerto Rico is a country with a rich history full of struggles and triumphs. For centuries, the people of Puerto Rico have sought to gain independence and sovereignty, and now, in the age of cryptocurrency, they may have found a way to achieve these goals.

In 1889, Puerto Rico was forced to accept the U.S. dollar as its legal tender, leading to a 40% currency devaluation and a crippling of the Puerto Rican economy. This was caused by the United States setting up the American Colonial Bank, and as a result of this, many Puerto Ricans attempted to save their net worths by borrowing money from the bank. Unfortunately, the interest rates were so high that it became very unlikely that locals were going to be able to pay back their loans. This eventually led to the bank seizing their assets, which in those days were typically their land.

In 2020, the U.S. dollar is still the official currency of Puerto Rico, leaving it vulnerable to the policies of the U.S. central bank. This has resulted in the people of Puerto Rico being unable to control their own financial destiny, as their currency is determined by outside forces.

However, with the recent introduction of Bitcoin, Puerto Rico now has the potential to gain its own independence and identity, without being held back by the U.S. dollar. Bitcoin is a decentralized digital currency, meaning that it is not regulated by any government or central bank, and it is not subject to the same rules as other currencies. This gives Puerto Rico the opportunity to create its own financial system, with its own rules and regulations, and to have total control over its own economy.

Furthermore, Bitcoin could be used to facilitate trade between the people of Puerto Rico and other countries. This would allow for the free and open exchange of goods and services, without having to worry about currency exchange rates or government control. It would also provide a secure and anonymous way for people to make payments, protecting them from fraud and identity theft.

All in all, Bitcoin could be the answer that Puerto Rico has been searching for. It could provide them with the independence and identity that they have been starved for, and it could be the key to a prosperous future. With the right regulations and policies in place, Bitcoin could turn Puerto Rico into the financial powerhouse it deserves to be.

– Commerceblock introduced Mercury Wallet, an implementation of both statechains and CoinSwaps.
– Statechains are an off-chain mechanism for transferring freely between anyone completely off-chain.
– The wallet integrated a new CoinSwap design to allow users to mix multiple times without needing to transact on chain for each mix.

Commerceblock recently introduced Mercury Wallet, an innovative implementation of both statechains and CoinSwaps. This new wallet simultaneously introduced a new mixing tool as well as the first wallet to implement a new second-layer scaling solution. The team built off of Ruben Somsen’s original statechain proposal with some changes to make it work without the needed ANYPREVOUT/Eltoo sighash flag, and integrated a new CoinSwap design to allow users to mix multiple times without needing to transact on chain for each mix.

Statechains are an off-chain mechanism for transferring freely between anyone completely off-chain. This is done by constructing a ECDSA-MPC address where the private key is sharded with one half held by the user and the other half by the operator. This then creates a timelocked, pre-signed withdrawal transaction that allows the user to unilaterally take the coins back after the timelock. When the user wishes to transfer the statechain, they notify the operator who then collaborates with the receiver. The receiver and operator generate a new set of private key shares that correspond with the same address, and generate a new pre-signed transaction with a lower timelock than the last one, and then the operator deletes their old keyshare.

CoinSwap is a trustless mechanism to swap coins between two users without broadcasting anything on the blockchain. This is done by creating two transactions with a mutual output, and then signing both transactions. Then, the two users exchange the signatures, and the transaction is broadcasted and the coins are swapped. This integration with Mercury Wallet allows users to mix multiple times without needing to transact on chain for each mix.

Overall, the introduction of Mercury Wallet is a groundbreaking development in the cryptocurrency space. It opens up the possibilities of increasing privacy, scalability, and off-chain transfers, all without sacrificing the security of blockchain. This is just the beginning of what can be achieved with this new technology, and it will be exciting to see what comes next.

• Commerceblock’s Mercury Wallet introduced a new mixing tool, statechains, and Coinswaps.
• Statechains are an off-chain mechanism for transferring freely between anyone completely off-chain.
• Statechains use ECDSA-MPC addresses, timelocked pre-signed withdrawal transactions, and cryptographic key-sharing to keep funds secure.

Commerceblock’s Mercury Wallet was a revolutionary implementation of both statechains and CoinSwaps. This wallet provided a new mixing tool, as well as the first wallet to implement a new second-layer scaling solution. Statechains offer a new way of sending and receiving digital assets securely and privately.

Statechains are an off-chain mechanism for transferring freely between anyone completely off-chain. This technology was initially proposed by Ruben Somsen and was then implemented within the Mercury Wallet. The statechain uses a combination of ECDSA-MPC addresses, timelocked pre-signed withdrawal transactions, and cryptographic key-sharing to keep funds secure. To start a statechain, the original owner/user collaborates with a statechain operator to construct an ECDSA-MPC address. This address is then assigned a private key which is split into two parts, one half being held by the user and the other half being held by the operator. The user then creates a timelocked, pre-signed withdrawal transaction which is signed by the operator before sending funds to the new address. This timelocked transaction allows the user to unilaterally take the coins back after the timelock period has expired.

When the user wishes to transfer the statechain, they notify the operator who then collaborates with the receiver. The receiver and operator generate a new set of private key shares that correspond with the same address, and generate a new pre-signed transaction with a lower timelock than the last one, and then the operator deletes their old keyshare. This cryptography ensures that the operator’s new keyshare will only work with the new user’s keyshare, and if the old one is deleted then it is not even possible for them to collaborate with the old user to spend the coins.

The Mercury Wallet also integrates a new CoinSwap design which allows users to mix multiple times without needing to transact on chain for each mix. This CoinSwap design is a trustless system which uses atomic swaps and cryptographic proofs of ownership, allowing users to mix and match their coins without trusting any third party.

Overall, Commerceblock’s Mercury Wallet has revolutionized the way digital assets are sent and received by introducing statechains and CoinSwaps. These new technologies have enabled users to securely and privately transfer digital assets while also providing them with a trustless mixing tool which allows them to remain anonymous. With these new tools, the Mercury Wallet has established a new standard of digital asset management.