The Sat Standard - Bitcoin Weekly - Jan 1 2022

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The Sat Standard
This week in bitcoin. Straight to the point. No bullshit. Every Saturday.
Thought of the week from Marty Bent:
Off-grid mining is the best way to avoid political risk in the mining world. On-grid miners have every right to use the electricity they purchase if they pay the rate set by the electricity provider. However, people who are incapable of critical nuanced thought won't recognize this and will single out bitcoin miners as bad actors. This may only be the case during the transitionary period to a Bitcoin Standard, but it will be the reality for the short to medium-term. 

Thought of the week from Matt Odell:
~12% of the bitcoin hash rate was disconnected from the network this week due to the Kazakhstan Government cutting internet nationwide in response to anti government protests. The bitcoin network continues to operate smoothly. Even if this hash never reconnects that will continue.

Although the global bitcoin network is robust enough to handle this type of state attack this should serve as an important reminder to everyone that redundant communication methods are absolutely crucial when dealing with sophisticated state level attackers.
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