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Following Bitcoin Cash on its rise to global reserve currency.

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Sunday, 26th March 2023

#75:

Operation Chokepoint 2.0 & Balaji’s Bitcoin Bet

feat. Esteban

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RIPPPPPP ATLs

USD $125.52 (down). 1 BTC = 220.3 BCH (down bad).

1 ETH = 14.0 BCH (down).

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Operation Chokepoint 2.0

  • Original: 2013 US gov pressuring grey markets like gun shops, poker illegally through banks
  • Silvergate, SVB, Signature, Credit Suisse bailout, Deutsches Bank
  • Coinbase is being sued again by the SEC, after doing everything to comply with unspecified laws
  • Lots of reports of new limits added to people’s ability to buy crypto from banks
  • An independent economy must form as crypto gets shut off

https://www.reuters.com/business/finance/swiss-blank-cheque-wins-some-time-credit-suisse-2023-03-16/

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Operation Chokepoint 2.0

  • In sum, banks taking deposits from crypto clients, issuing stablecoins, engaging in crypto custody, or seeking to hold crypto as principal have faced nothing short of an onslaught from regulators in recent weeks. Time and again, using the expression “safety and soundness,” they’ve made it clear that for a bank, touching public blockchains in any way is considered unacceptably risky.
    • - Nic Carter, Operation Choke Point 2.0 Is Underway, And Crypto Is In Its Crosshairs

https://www.piratewires.com/p/crypto-choke-point

https://www.piratewires.com/p/2023-banking-crisis

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x

https://twitter.com/BTC_Archive/status/1638846750776606721

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x

https://twitter.com/balajis/status/1636797265317867520

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Balaji Bets Big On Bitcoin

  • Hyperinflation in 90d - June 17 2023?
  • Former A16Z, Coinbase CTO
  • Says this is a “public interest” bet, or “ringing the fire alarm on the Internet”
  • Unclear if anyone actually has taken the bet?
  • Generated huge publicity and interest
  • Skeptical response from Bitcoin maximalists
  • Split colour laser eyes Twitter profile picture, one of them green…

x

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BTC Mempool Moons

  • Time + Ordinals + Price volatility = up to 240+ blocks of backlog
    • 10 sat / vMB
  • Potential for the first non-bull-peak fee crisis on BTC
  • Will this prompt some rethinking about scalability / useability?

https://jochen-hoenicke.de/queue/#BTC,3m,weight

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Update on Lightning Network

  • Amid fee pressure, LN success is more important than ever
  • Criticism has come out from heavy use of custodial wallets
    • Seems LN tips are achieving good usage on Nostr though
  • What’s the latest state of Lightning Network? Is it getting good usage, apps etc?
    • Not something the BCH Podcast tracks super closely, so we’re in the dark on this

https://twitter.com/TheDesertLynx/status/1638247227620573188

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Community comment of the week

Only 8 years late

https://twitter.com/TheBCHPodcast/status/1638975546553143297

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Meme of the week

https://twitter.com/fruitymuncher/status/1638703622560047105

Who really knows what’s going on anyway?

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MESSAGE TO

THE COMMUNITY

Open platform to speak to the Bitcoin Cash community, with any thoughts, advice, feedback, criticism, encouragement, story or point of view you feel should be more prominent or appreciated.

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That's called obsession

It's something that you live

The only single thing that matters

After your wife and your kids

Cos if you can't learn to float

Then you sink or you swim

Patrons!

  • Ricky
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Sponsors!

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Start guide, FAQs, links at www.bitcoincashpodcast.com

Thanks to donators!

Shoutouts for the show

bitcoincash:qp4u3xdgj282j89eyjkvcauednyq6cj4rgj0pqz3vg

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