Monday, February 7th 2022 - Issue #1158

Mainstream Monday

Things are escalating quickly. On Friday we highlighted the fact that many individuals turned to Tallycoin, a service that makes it very easy to spin up a crowdfund campaign that uses Bitcoin to allow those running the campaign to receive funds in a no-custodial manner. Wholly eliminating the risk of having funds frozen and/or seized because a government or the corporation hosting the campaign doesn't agree with the cause. Since the campaign started it has raised more than 10 BILLION sats, or ~$460,000 at current prices.

The buzz around the campaign picked up steam over the weekend. So much buzz that it caught the eye of Tucker Carlson, who hosts one of the most popular nightly shows on mainstream corporate media.

Regardless what you think about the corporate media generally or Tucker Carlson personally, it isn't every day that Bitcoin's value prop is portrayed so clearly and accurately on this type of stage.

"They're turning to cryptocurrency. Tallycoin, for example, is a small crowdfunding service that uses Bitcoin. It's not controlled by banks. That's the point. They're hosting a fundraiser for the truckers. Now why is this appealing? No one can steal the money. No government can pressure anyone to turn the money over because governments don't control crypto. Bitcoin goes from Person A to Person B and all the intermediary does, the company, is connect the two.

It's pretty appealing. And you can imagine the long-term consequences here. If the people in charge in this country and in Canada want to make the US Dollar irrelevant, they'll keep acting like this and soon it will be. Either way it's becoming very clear that the only way around the stranglehold that technology has on our human rights is decentralization [...]"

A very powerful message was just broadcast to millions of people across the US and the world. I expect this trend of high signal Bitcoin coverage to increase over time as governments become more and more desperate.

While Bitcoin being in the spotlight on Tucker Carlson did wonders for mainstream awareness of the value prop instead of hyper focus on price volatility, there was another action that will do wonders for adoption and utility; Cash App rolling out the ability for all of their tens of millions of users to send sats over the Lightning Network.

The number one finance app in the app store is making sure it is staying up to date on cutting edge technology that enables people to send small and large amounts of sats instantly and cheaply when compared to on-chain transactions. While it is probably true that many Cash App users currently ignore the Bitcoin page, what is important is that Cash App is building bitcoin products that will enable their users to reap the utility of the network when they are ready. Some will realize they are ready to use Bitcoin under their own volition. Most will be forced to realize the utility of the network due to encroachment on civil liberties that pushes them into the network's hand.

By enabling the Lightning Network on the app, Cash App is increasing the amount of people who will be able to take self custody of their sats due to the fact that users with less sats who are less likely to make on-chain transactions when fees are high (which they haven't been for some time) can now do so via the Lightning Network.

Increased awareness and tooling is a great way to start the week.

Final thought...

Troy is too long of a movie.

Share

Forward

Hope you enjoyed today's issue. If you have any friends that are looking to find out more about Bitcoin have them sign up for this newsletter here:

Get Ƀent

Ƀent noun 1. direction taken, as by one's interests; inclination.

Thanks for reading Marty's Ƀent, a daily newsletter containing all the information I found interesting in the Bitcoin world in the last 24 hours.

Marty's Ƀent - February 7th, 2022 - Issue #1158

Mainstream Monday

Older messages

The Sat Standard - Bitcoin Weekly - Feb 5 2022

Marty's Ƀent - February 4th, 2022 - Issue #1157

Marty's Ƀent - February 3rd, 2022 - Issue #1156

Marty's Ƀent - February 2nd, 2022 - Issue #1155

Marty's Ƀent - February 1st, 2022 - Issue #1154

You Might Also Like

Hong Kong Cryptocurrency ETF First Day: IOP Exceeds Expectations, Low Trading Volume, Future Outlook

Increase your crosschain score

Hong Kong’s Bitcoin and Ethereum ETFs launch with lower than expected trading volumes

A Comprehensive Overview of Decentralized Communication Infrastructure: SendingNetwork

Measuring Exchange Quality And ‘Fake Volume’

Bitcoin market poised for potential bull trend resumption amid ongoing redistribution phases

Crypto Market Pulse Weekly – ₿ Bitcoin Hits Record Daily Number of Transactions

Analysis: What changes have occurred in the L1 Infra track in recent months?

Bitcoin Makes History By Becoming The Scarcest Asset In The World

Polygon leads in EVM efficiency as DeFi users favor low transaction costs