Following Bitcoin Cash on its rise to global reserve currency.

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#120:

Phoenix Mining &

Polkadot Paid

Propaganda

feat. Paul

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Sunday, 7th July 2024

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Flipstarter Update

• Flipstarter still running for Episodes 116 - 125
• Already 2/3rds completed
• Need another 7 BCH to complete it
• If you’re enjoying the show, please donate! The minimum pledge is just $4 or so.

~meetups

https://bchpodcastflipstarter.cash/en

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Paul

Crypto Youtuber, BLISS attendee

https://twitter.com/Rspl382

https://www.youtube.com/@rspl2024

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Mt Gox Coins Released

USD $316.52 = 100 megasats (way down). 1 BTC sat = 179.4 BCH sats (down). 1 ETH = 936 megasats (down).

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Phoenix Mining

• A new mining pool “Phoenix” appeared unexpectedly on BCH. Without profit incentives, very unusual
• Mined all healthy blocks, appears to have done nothing malicious. No network interruption
• Hashrate rocketed 4 EH/s > 10EH/s, Phoenix mining > 90% of blocks, but subsided once Phoenix backed off their unprofitable mining (& they have now stopped entirely it appears)
• Community was quite calm in handling a potentially serious scenario, well done everyone

https://fork.lol/pow/difficulty

https://twitter.com/TheBCHPodcast/status/1808445373930688592

https://twitter.com/TheBCHPodcast/status/1809211414478790994

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Phoenix Mining

• Mined ~492 BCH, worth ~$160 000. Then halted completely.
• Possible motivations?
• Do they need fresh coins for an OTC customer
• Testing their BCH operations?
• Trolling?
• Was this some kind of weird attack?
• I feel like we’re winning the narrative war & maybe that is seeping into miners
• Some BTC people commented, but mostly it was a non-event

https://explorer.melroy.org/address/bitcoincash:qrt6zec8dvy8uydtrv4vxrlufearpupxn5aqqwldfg

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Mt Gox Coins Released

• Over a decade since MtGox imploded, payouts of BTC & BCH appear to be (finally) in effect. Over next 90 days.
• My speculative theory of 20k BTC for Roger turned out to be total hopium.
• He’s getting about 500
• Greg Maxwell 900, Adam Back ~
• Jesse Powell x
• Is this bullish or bearish?
• Certainly resolves a longstanding issue either way

https://twitter.com/DavidShares/status/1809213321519751655

https://twitter.com/DavidShares/status/1809277305367224352

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Polkadot Paid Propaganda

• CoinDesk published an article highlighting Polkadot’s treasury burn, including marketing
• $36 mil ads, events, meetups
• $23 mil software dev
• $15 mil liquidity provision
• Lots of known “crypto influencers” were listed on the invoices
• The Crypto Lark, Layah Heilpern, Wendy O
• Our competition: Treasuries & shills

https://www.coindesk.com/business/2024/07/02/polkadots-245m-treasury-will-last-2-years-at-current-spending-rate/

https://twitter.com/alltheway08/status/1808124713085845580

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Meme Of The Week

Marketing Genius

https://twitter.com/technologypoet/status/1808128957172117800

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Other News

• Dagur the head Shadow Wizard was teasing BCH contracts to borrow mUSD against BCH
• Sayoshi Nakamario launches FundMe.cash, a new crowdfunding Flipstarter alternative
• Bitcoin Magazine generates a controversy with an article from “Bob” floating the idea of an automatic HODL tax on UTXOs to fund BTC miners

https://bitcoinmagazine.com/technical/bitcoin-hodlers-need-to-pull-their-weight-too

https://x.com/dagur/status/1808845208164983076

https://fundme.cash/

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Community Comment Of The Week

Grassroots Adoption

Is Growing

https://t.me/bchchannel/391540

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Shoutout to the LA onboarding legend! Provide the P2P tools & it has impacts we can’t ever expect.

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Community Comment Of The Week 2

BCH =

BTC + ETH + SOL

https://twitter.com/thelukepryor/status/1808508114607714620

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Explaining to “”crypto”” users why BCH in a way they can understand?

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119 Response: Nopara73

https://twitter.com/nopara73/status/1809607371968098615

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119 Response: Mechanic

https://twitter.com/GrassFedBitcoin/status/1809626070263464359

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119 Response: Peter McCormack

https://twitter.com/TheBCHPodcast/status/1809635727442940136

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119 Response: David Hoffman

https://twitter.com/TheBCHPodcast/status/1809647631586467962

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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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AFoG This Saturday!

• Meeting of the Five guild tournament on Saturday
• Magic The Gathering
• 1v1 Double Elimination tournament
• Traditional Standard
• 7pm EST on 13th June
• $100 in prizes as of now
• Come support one of the best BCH projects in the space!

https://afifthofgaming.com/Session/Detail/1542

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Supporter Appreciation

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Donators!

Patrons

• Ricky
• HP

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Sponsors!

• General Protocols
• Check out bchbull.com

Flipstarter (Eps 116 - 125)

• https://bchpodcastflipstarter.cash/en
• majamalu (Marcelo)
• molecular
• ErdoganTalk
• Emergent Reasons
• Peter McCormack
• Brian Canacci
• yeahhhbeer
• … and you, potentially!

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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

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

If new: Listen to Episode 85!

Try Selene Wallet!! https://selene.cash

Shoutouts for the show

bitcoincash:qz48xc0g57e3kt2j85f6e8h44240tuh4zusm9rv24s

Thanks for watching!

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