Greetings Bitcoiner,

Welcome to issue #76 of the Bitcoin Breakdown, where we recognize how Bitcoin's immutably fixed supply mirrors the limited nature of time, potentially shifting societal values towards prioritizing life experiences and personal growth over material wealth.

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⚡️ QUICK BITS

• Biden administration says they would oppose a bill permitting heavily regulated financial institutions to hold Bitcoin on behalf of customers.

• EU securities regulator reviews whether to allow crypto assets into its €12T mutual fund market, potentially opening the door to major mainstream adoption.

• LocalMonero and Agoradesk, peer to peer trading platforms, announces its closure by November 2024, starting a six-month wind-down.

• Decentralized mixing service Incognito also stops operating their service.

• Zeus Wallet founder believes that now is the time to take a stand and fight for KYC-free bitcoin self-custody wallets.

• Nigeria to ban peer to peer cryptocurrency trading in the Naira, blaming crypto for harming the local currency.

• Australian Taxation Office seeks personal and transaction data from 1.2M exchange users to identify those potentially evading tax obligations.

• Microsoft warns of Android malware 'Dirty Stream,' exploiting a critical security flaw affecting popular apps with billions of installs.

• Taiwan seeks to criminalize cryptocurrency firms that fail to abide by anti-money laundering rules.

• Argentina to mine bitcoin with stranded gas and 1,200 miners, thanks to a partnership with Genesis Digital Assets.

• Jack Dorsey's Block plans to purchase BTC monthly using 10% of its gross profit from Bitcoin products.

• Bitcoin network has processed 1B transactions, in 15 years, four months, and four days after Satoshi Nakamoto mined the genesis block.

• Address poisoning attack costs someone over $71M in wrapped bitcoin.

• Nvidia is the only stock to beat BTC over the last 10 years.

• Congressman Sean Casten introduces the Blockchain Integrity Act to temporarily prohibit financial institutions from transacting with funds that have gone through digital asset mixers.

• Senator Cynthia Lummis slams DOJ for a hyper-aggressive stance on self-custody software.

• Alexander Vinnik, BTC-e co-founder, pleads guilty to facilitating a $9B money laundering scheme linked to hacking and drug trafficking.

• Crypto lobbyists prepare for the 2024 US presidential election, despite cryptocurrency not being a priority for most voters, with Bitcoin maximalists being a notable exception.

• Glassnode report reveals long-term Bitcoin investors are increasingly HODLing onto their assets.

• CoinRoutes report reveals Q1 2024 Bitcoin surge driven by spot ETFs lowered trading costs due to heightened trading volume.

• Metaplanet, dubbed Asia's MicroStrategy, welcomes Dylan LeClair as director of Bitcoin strategy.

• Susquehanna International Group, a global trading, technology, and investment firm, discloses that it holds over $1.8B in Bitcoin ETFs.

• Reserve Bank of India is working to make its digital currency available without the need for internet access.

• Butt Dickarson, a Bitcoin podcaster, publishes a half-hour secret recording with confessions from a social engineering Coinbase hacker.

• Swan Bitcoin launches Managed Mining service for institutional investors and announces strategic collaboration with Tether, targets 100 EH by 2026.

• Canaan launches new A1566 BTC mining machine that features an energy efficiency ratio of 18.5J/T though its 185T hashing power and 3420W power consumption.

• Standard Chartered says Trump defeating Biden is good for Bitcoin.

AFFILIATES & OTHER NEWSLETTERS TO CHECK OUT

• Start9 enables you to run your own Bitcoin node while also joining the sovereign computing paradigm, where concerns over privacy, censorship, hacks, and fees practically disappear—get a 5% discount by using the code: BITCOINBREAKDOWN.

• Blockstream Jade is the best hardware wallet for you to take self-custody with—enjoy a 10% discount off of with code: BITCOINBREAKDOWN.

• Orange Pill App enables you to connect with Bitcoiners and Bitcoin merchants wherever you live and travel.

• BITCOIN WELL is the fastest and easiest way to secure Bitcoin in self custody, offering non-KYC sells and bill payments with a transparent 1% spread, no hidden or withdrawal fees.

• Simple.AI: The magic of AI made simple for mere mortals.

• CramHacks helps you stay ahead of the curve in cybersecurity.

• The Publish Press breaks down the business of creators three times a week.

• Short Squeez curates the daily squeeze on major news from Wall Street to Silicon Valley.

• AI Tool Report teaches you how to save time and earn more with AI by curating trending tools, productivity-boosting prompts, and more.

• TLDR is a free 5 min daily newsletter read by 4,000,000+ bitcoiners, software engineers, founders, and tech workers.

🎥 QUICK MEDIA

• Unchained releases new Bitcoin commercial encouraging self-custody (May 2 | 0:37 min watch).

• Trump says ‘I’m good with Crypto. If you’re for crypto you better vote for Trump’ (May 9 | 0:38 min watch).

• Samson Mow of JAN3 predicts a greater Bitcoin war than the Blocksize Wars may be in sight now that Bitcoin is mainstream, possibly over the FATF’s Travel Rule, ‘What if Michael Saylor sides with BlackRock?’ (May 9 | 1:40 min watch).

• Theya releases a video covering five new features they dropped last week, i.e., a redesigned web app, passkey integration, offline mode, Single-Key Vaults, and Multi-Vault support (May 3 | 6:33 min watch).

• Unchained posts a video walkthrough for setting up Coinkite’s new Coldcard Q signing device (May 3 | 11:38 min watch).

• Ohio State’s commencement speaker, Chris Pan, tries to orange pill 60,000 people after writing a speech on ayahuasca but gets booed for being a tad bit too cringe (May 5 | 19:15 min watch).

• Lyn Alden, the author of Broken Money, launches a YouTube channel and posts the first video, a 30-minute explainer on how money and banking work and why they're broken (Apr 28 | 32:29 min watch).

• Lightspark CEO David Marcus and Michael Saylor discuss enterprise adoption of the Bitcoin Lightning Network and a potential future where Bitcoin is the native currency of AI agents (May 2 | 1:00:53 min watch).

💥 MEME BREAK

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Until our next transmission,

Naiw

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