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Figuring out what successful means for Bitcoin global adoption, a Defiant Call to Arms for Bitcoin Miner, and more!

The Faucet Newsletter

05/27/23

Bringing you the latest in Bitcoin updates, stories, and culture

Hey there,

Here are the highlights for this edition of The Faucet:

  • Global adoption and the varying levels of success for Bitcoin: Alex Gladstein, author of "Hidden Repression: How the IMF and World Bank Sell Exploitation as Development," opened a poll to determine whether global adoption of Bitcoin with a majority of user funds custodied is still considered a win for Bitcoin Twitter. There are differing opinions on what constitutes success in Bitcoin adoption, with some emphasizing the importance of layer 2 scaling solutions to limit trusted centralized parties.

    Check out the thread for an interesting read on the topic.

  • Rallying cry for decentralizing Bitcoin mining: A user on Stacker News named hypnagog calls for Bitcoiners around the world to start their own small-scale mining operations as a means to decentralize mining, similar to the way nodes are decentralized. Despite mining pools' efforts to limit centralization, the industry remains exclusionary for average individuals. The hope is that an increase in small-scale miners can gradually decrease the difficulty of mining a block for mining pools comprised of individuals and bring an end to the oligopoly that is Bitcoin mining today.

    Read more about the rallying cry for decentralizing Bitcoin mining.

  • "Zapvertising" trend in the Bitcoin community: A new trend called "zapvertising" is gaining popularity in the Bitcoin community. Coined by Walker V. from the BTC Times, zapvertising refers to the act of sending Bitcoin Lightning payments to a Nostr post, with a comment advertising a brand. Blockstream, a prominent Bitcoin company, has embraced this trend and started zapping posts that promote their brand. This demonstration showcases a proactive approach towards exploring decentralized technologies, potentially paving the way for future innovations in the marketing domain.

    Read more about the "zapvertising" trend in the Bitcoin community.

That's it for this edition of The Faucet. Stay tuned for more exciting updates in the world of Bitcoin!