Reinventing Money: Bitcoin’s Techno-Socio-Economic Transformation

• Bitcoin is a techno-socio-economic transformation with the potential to completely replace traditional money.
• The transformation that Bitcoin represents is much larger than any other technology, making it both a benefit and a hurdle for adoption.
• While some Bitcoiners overestimate how quickly it will become widely adopted, there is great potential in the long run if its superior qualities are embraced.

The Transformation of Money

Bitcoin is more than just another new technology — it is an entire techno-socio-economic transformation. It reinvents money from the ground up and offers a paradigm shift unlike any other product, app or service before it. If successful, this has the potential to completely replace traditional money and become the single most liquid and valuable unit of value on Earth.

Benefits and Hurdles

The magnitude of this transformation provides both benefits and hurdles for Bitcoin’s success. On one hand, its incompatibility with prior primitives allows for a winner-take-all situation where Bitcoin could come to dominate global money markets if its superior qualities are embraced by users. On the other hand, this paradigm shift makes wide adoption slower as people need time to adjust to the new technology and socio-economic environment that comes along with it.

Overestimation of Adoption

Bitcoiners have often been guilty of overestimating how quickly Bitcoin will be adopted as money around the world. This can lead to unrealistic expectations which can be damaging if not addressed properly. However, while some may be too optimistic about short term adoption rates, they should not abandon their belief in Bitcoin’s immense potential in the long run.

Low Time Preference

In order to properly assess Bitcoin’s future prospects realistically, we must have a lower time preference when thinking about its development trajectory — meaning that we must think on a longer time scale instead of expecting immediate results from our investments in cryptocurrency markets or businesses built on top of blockchain technologies.

Maturing Viewpoints

As we mature in our views on Bitcoin, temperance, patience and humility become important virtues for us to embody when discussing its future prospects or investing in projects related to cryptocurrencies or blockchain technologies. By keeping these values close at heart during our journey into uncharted waters, we can ensure that our beliefs remain realistic yet optimistic as we strive towards widespread adoption of revolutionary financial infrastructure enabled by decentralized networks like Bitcoin!

Write Your Proof-of-Work Resume: Unlock Your Potential in the Bitcoin Community

• Mickey Koss, a West Point graduate with a degree in economics, was not invited to write for Bitcoin Magazine but stumbled across their article submission link and wrote an article.
• After receiving rejection from the editor on his second submission, he adjusted his strategy and gained confidence to write more articles.
• The Bitcoin community has been supportive and encouraging, helping him gain the courage to keep writing, which eventually led him to be hired by a large YouTube channel.

From Being Rejected To Becoming A Writer

Mickey Koss is a West Point graduate with a degree in Economics who spent four years in the infantry before transitioning to the Finance Corps. He initially had no idea that he would be able to write for Bitcoin Magazine as he found their article submission link while looking for customer service emails by accident. His first attempt at writing was accepted but when it came time for his second submission, he received an unceremonious “no.” This feedback helped him adjust his strategy and gave him the confidence to continue writing.

The Support From The Community

Mickey was scared of what people would say or how they may react when he started posting his articles on social media—but the Bitcoin community welcomed him with open arms and encouraged him to continue writing. With the support of his wife alongside that of the Bitcoin community, Mickey had finally mustered up enough courage to keep going and pursue this newfound passion of writing about cryptocurrency-related topics.

Hired By A YouTube Channel

His hard work paid off as he eventually got hired by a fairly large YouTube channel focused on cryptocurrencies—the same one whose editor had rejected one of his earlier drafts! This goes to show that even if you get rejected once (or multiple times), it doesn’t mean you have failed completely; sometimes getting rejected can lead you down unexpected paths that will be beneficial in your career development!

Write Your Proof-Of-Work Resume

Bitcoin has a hard cap so there is only so much room for everyone within its community; however, this does not mean that you should limit yourself or think less of yourself just because someone else may have done something better than you. Instead, take any rejection as constructive criticism that can help improve your skillset even more! Showcase your proof-of-work resume through your experiences and accomplishments—you never know where it might lead you!


In conclusion, no matter what others may think or say about you—including rejections from editors—it is important not to give up or limit yourself when pursuing something that interests or excites you like Mickey did with becoming an author for Bitcoin Magazine. With support from those around us including our families, friends, and communities we can all find success if we put in enough effort into our dreams!

Explore the Future of Bitcoin at the Philippines’ First-Ever Bitcoin Island Retreat

  • and have announced their partnership to host the Philippines’ first-ever Bitcoin Island Retreat in Boracay from March 27-29 2023.
  • The retreat aims to provide attendees with an opportunity to network, discuss bitcoin and interact with key players in the industry.
  • Attendees will also have a chance to win a bitcoin bounty if they can find the 12-word seed phrase placed around the island. and Announce Partnership

Payments processor and exchange, two leading players in the Philippines’ cryptocurrency landscape, have announced their partnership to host the country’s first-ever Bitcoin Island Retreat in Boracay.

Purpose of The Retreat

The event, which is slated to take place from March 27-29 2023, will bring together a host of bitcoin enthusiasts, thought leaders, investors and developers from around the world. The retreat aims to provide attendees with an opportunity to network, discuss bitcoin and interact with key players in the industry, according to a press release sent to Bitcoin Magazine.

Boracay as Bitcoin Hub

Over the past year, Boracay has transformed into one of the world’s largest and most livable Bitcoin communities. With over 250 locations that accept Bitcoin payments, the island is a hub for enthusiasts and merchants who are looking to take advantage of the benefits offered by the Lightning Network. Ethan Rose, the founder and CEO of, and Elijah Tan, the VP of operations at, will lead

Work: Your Contribution to Civilization and Our Collective Legacy

The Problem of Work and Money

This article discusses the problem with work and money in today’s economy, specifically in the tech industry. It looks at how massive layoffs are happening despite people performing productive labor, and why this is the case.

The Value of Work

Work is what takes a harsh world and makes it livable. It contributes to our civilization, communities, and families. In a normal functioning market, labor provides value.

Specialization of Work

Markets work because people are willing to pay for goods or services they find valuable. Through trade, we can leverage our own skills to get everything we want or need. Civilization gets built through specialization of work.

Unpleasant Tasks

There are tasks that pay well but people would rather not do them due to unpleasantness involved—these tasks have higher wages as a result.

Fault of Fiat Money
< p > The author argues that fiat money is responsible for not allowing work to be properly valued in today ‘s economy. This system has caused massive layoffs despite people performing productive labor.

New Hampshire, Texas Lead the Way for Bitcoin Adoption in US

  • New Hampshire Commission on Cryptocurrencies and Digital Assets – Governor Chris Sununu has created a commission to review how Bitcoin mining operations might be integrated into the state’s energy plan.
  • Texas Work Group on Blockchain Matters – A report issued by the Texas legislature recommended making Bitcoin an authorized investment for the state, while giving tax incentives to local BTC miners.
  • Recommendations – Both reports conclude that further research into Bitcoin is necessary and indicate that American states are increasingly considering the benefits of embracing cryptocurrency. They also stress the need for regulation to protect consumers.

New Hampshire Commission On Cryptocurrencies And Digital Assets

Governor Chris Sununu of New Hampshire has formed a “Commission On Cryptocurrencies And Digital Assets” in order to review how bitcoin mining operations might be integrated into a statewide energy plan. The commission cites potential positive impacts for the electricity system such as contributing to a more stable electricity grid, more sustainable generation projects, and lower costs for consumers generally. This was all initiated by an executive order from Governor Sununu back in February 2022 which expressed New Hampshire’s commitment to financial services innovation.

Texas Work Group On Blockchain Matters

In response to this initiative, a report titled “Texas Work Group On Blockchain Matters” was released directed at members of the Texas legislature. It proposed making Bitcoin an authorized investment for the state while giving tax incentives to local BTC miners. The report concluded that further research into Bitcoin is needed and indicated that American states are increasingly considering Bitcoin adoption. Furthermore, it stressed that regulation is necessary in order protect consumers.


The New Hampshire report written by their Bureau of Securities Regulation stated that “A well regulated cryptocurrency market provides consumer protection, and trust in the market which is a boon to investors, the general public, and businesses alike”. This indicates that both New Hampshire and Texas could end up leading America’s embrace of Bitcoin if they decide follow these recommendations. It is important for those involved in either state legislature or within the Bitcoin ecosystem advocate continued inquiry into how states can integrate this technology as often times they may be much more nimble than federal government when it comes adoption new technologies such as cryptocurrency.


Overall, both reports demonstrate support towards integrating bitcoin mining operations within energy plans across multiple U.S states as well as creating regulations with regards to protecting consumers who use cryptocurrencies . These conclusions suggest that many U.S states have begun recognizing potential benefits of incorporating blockchain technology and digital assets into their economies as well investing resources towards researching these possibilities further .

How Taking a Chance Led to a New Life: Julia’s Story

• Julia is a German living in Southern Portugal, having first set foot on Portuguese terrain when she was 19.
• Julia has built a strong local community around her homestead, and runs a local Bitcoin meetup.
• Julia talks about the similarities between homesteading and Bitcoin, and the need for high upfront investment and low time preference for both activities.

Julia is a German native who made the life-changing decision to move to Portugal when she was 19 years old. Having had no plan beyond the initial three-month job opportunity, Julia suddenly found herself living and working in a new country, and has not returned to Germany since.

Julia has since found a home in Southern Portugal, where she has built a strong local community around her homestead. As the years have passed, Julia has become a respected member of the community, and has even started a local Bitcoin meetup. During our conversation, Julia shared many insights on how homesteading and Bitcoin are very similar in terms of requiring high upfront investment and low time preference.

Julia’s story is incredibly inspiring and shows how even with a single decision, one’s life can completely change. From the moment she decided to take a chance on a three-month job opportunity, Julia has been able to build a life for herself in Portugal with a strong local community around her. Her work with Bitcoin is also incredibly impressive, and her insights on how the two activities are similar are incredibly valuable.

Julia is a perfect example of how taking a chance can lead to amazing things. Her willingness to leave her home country and try something new has led her to a life she could have never imagined. We are thankful for her story and the valuable insights she has provided us.

Unlock Your Bitcoin Potential: Fedi Launches 2.1 BTC Hackathon!

• Fedi, a technology company, is launching a Bitcoin hackathon that will pay out 2.1 BTC to the winner in celebration of Bitcoin’s 14th birthday.
• The bounty is open-ended, meaning developers can code the functionality they want.
• Fedimint, an open source custody platform, allows users to store their Bitcoin and extend its functionality with privacy, smart contracts, and more.

Fedi, a technology company focused on building a Fedimint-based community custody platform, is launching a Bitcoin hackathon in celebration of Bitcoin’s 14th birthday. The hackathon encourages developers to build out a Fedimint module that will bring real world benefits to users and will pay out 2.1 BTC to the winner.

The bounty is open ended, meaning that developers are free to code the functionality they want; however, they are incentivized to work on what would drive the most impact. Fedi has suggested some ideas of what those could be, such as modules that would enable a communal savings pool to accumulate Bitcoin for a large project, storing value in a local currency such as dollars, receiving payments privately via static QR codes or links (similar to CLN’s BOLT 12 offers), or operating a communal vote based spending pool.

Fedimint is an open source custody platform that allows users to not only store their Bitcoin, but also extend the functionality of their Bitcoin with privacy, smart contracts, and more. It is based on the concept of second-party custody, which involves trusting family members or friends with the custody of one’s Bitcoin in a way that improves the trust and security models inherent in the classic centralized third-party custody solutions.

Fedimint also leverages Federated Chaumian Ecash, which means users gain increased privacy. In a nutshell, Fedimint wallets have the potential to bring strong privacy to Bitcoin users with better security than third-party custody setups and more ease of use than fully-fledged self-custody solutions.

Obi Nwosu, Fedi CEO, expressed his belief in the potential of Fedimint in a statement sent to Bitcoin Magazine: “At Fedi, we believe that Fedimint will become the ideal open platform for the delivery of consensus-based applications on the internet. Bitcoin was created to empower individuals to take back control of their money and data and we are excited to provide the tools to do just that.”

The Bitcoin hackathon is a great opportunity for developers to get involved in the Bitcoin ecosystem and have a chance to win 2.1 BTC. Developers are encouraged to apply their skills and creativity to create a Fedimint module that will bring real world benefits to users. With the power of Fedimint, developers can create solutions that will improve the security, privacy, and functionality of Bitcoin for users around the world.

Understanding the Risks of Investing in a Bitcoin ETF

The popularity of cryptocurrencies has grown significantly over the past few years, making it a popular subject of conversation. The 2009-born digital asset Bitcoin is one of the most well-known types of cryptocurrency. Many investors have started to consider the prospect of investing in a Bitcoin Exchange Traded Fund as the popularity of Bitcoin investment has grown (ETF). An investment vehicle known as a Bitcoin ETF invests in assets that have a relationship to the price of bitcoin.

A Bitcoin ETF: What is it?

A fund that follows the price of Bitcoin is known as a Bitcoin ETF. In that it is meant to track the performance of an underlying benchmark, in this instance the price of Bitcoin, it is similar to other ETFs. The ETF will contain a portfolio of securities, including commodities, equities, and bonds, all of which are related to the price of bitcoin. Investors may obtain exposure to Bitcoin without having to purchase the underlying asset directly by purchasing a Bitcoin ETF.

The advantages of purchasing a Bitcoin ETF

Portfolio diversification is one of the key benefits of investing in a Bitcoin ETF. You may spread your risk over a variety of assets and lower your total risk by making an investment in a fund that maintains a portfolio of assets tied to the price of bitcoin. Access to the market without having to buy the underlying asset directly is another advantage of investing in a Bitcoin ETF. As a result, investing in the cryptocurrency market is made simpler for investors as they no longer need to purchase Bitcoin outright.

Cons of Purchasing a Bitcoin ETF

Investing in a Bitcoin ETF has numerous advantages, but there are some risks as well. The fact that the ETF is not a direct investment in the underlying asset is one of its major downsides. Users at Bitcoin Sunrise have access to a variety of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and more, for investment purposes.  Since the underlying assets may not always be tied to the price of Bitcoin, the performance of the ETF may not always mirror the performance of Bitcoin itself.

Market turbulence

High market volatility is a risk to take into account while investing in a Bitcoin ETF. The volatility of the cryptocurrency market is well-known, and this may cause significant fluctuations in the price of Bitcoin. Due to the ETF’s potential inability to keep up with the market’s fast changes, its value may not always accurately represent that of Bitcoin.

Availability Risk

Liquidity risk is a different danger to take into account while investing in a Bitcoin ETF. ETFs often have modest trading volumes, which makes it potentially challenging to purchase and sell the ETF at a reasonable price. Because of this, it could be challenging for investors to enter and exit the market rapidly and profitably.

Regulatory Danger

Since the cryptocurrency sector is largely unregulated, it is uncertain if the ETF will be subject to the same regulations as conventional funds. As a result, investors might not be able to rely on regulatory organizations to provide the same degree of safety.

Containment Risk

Investors should also think about counterparty risk when making a Bitcoin ETF investment. This is the risk that the counterparty’s insolvency will prevent the fund from being able to fulfill its commitments. This could happen if the fund is unable to fulfill its duties to the underlying asset, as if it doesn’t pay out the right returns.

Risk to Reputation

Reputation risk is the final risk to take into account before investing in a Bitcoin ETF. The ETF runs the danger of being linked to fraudulent activity because the bitcoin market is not regulated. Regulators might blacklist the ETF as a result, which would undermine investor trust.


Without having to purchase the underlying asset directly, investing in a Bitcoin ETF can be a terrific way to obtain exposure to the cryptocurrency industry. A Bitcoin ETF investment does, however, come with some dangers, including market volatility, liquidity risk, regulatory risk, counterparty risk, and reputation risk. Investors should give these concerns considerable thought before purchasing a Bitcoin ETF. We give people the resources and knowledge they need to make wise investing choices and safeguard their money.

Russia To Allow International Crypto Trade in a Month – A Progressive Step Towards Blockchain Revolution

• Russia is planning to allow international trade in cryptocurrency within the next month, according to the national news agency TASS.
• Russian officials have been teasing the possibility of allowing bitcoin and cryptocurrency payments for imports for almost a year, following an intense package of Western sanctions.
• The Ministry of Finance proposed a roadmap for bitcoin regulation in January 2022, and U.S. President Biden announced the first tranche of Russian sanctions, blocking five of the biggest Russian banks and freezing all the assets they held in America.

Russia is taking major steps towards legalizing international cryptocurrency trade in the upcoming month. According to the national news agency TASS, Anatoly Aksakov, the chairman of the country’s Congressional finance committee, said that they want to legalize cryptocurrencies to ensure foreign trade activities.

This news comes after a period of heightened tension between Russia and the West, following Russia’s invasion of Ukraine, which resulted in a package of Western sanctions being imposed. The Ministry of Finance proposed a roadmap for bitcoin regulation in January 2022, and U.S. President Biden announced the first tranche of Russian sanctions, blocking five of the biggest Russian banks and freezing all the assets they held in America.

However, despite the government’s plans to allow cryptocurrency payments for foreign trade, there are no plans to encourage similar usage of the assets within the boundaries of the nation’s territory. Aksakov stated that the circulation of cryptocurrencies as a means of payment on the territory of Russia will be prohibited, and liability will be prescribed in this regard.

The news of Russia’s plans to legalize international cryptocurrency trade is a sign of the times, as more and more countries are beginning to recognize the potential of the digital currency and its ability to revolutionize the way we do business. This is also a sign of the growing trend of countries recognizing the potential of blockchain technology, which has the potential to revolutionize a variety of industries and provide further security measures.

It is clear that Russia is taking a progressive stance towards cryptocurrency and blockchain technology, and the nation’s plans to legalize international cryptocurrency trade are a testament to this. This move could potentially open the door to a variety of new opportunities, and it will be interesting to see how it unfolds in the coming months.

Ethiopia Set to Become Bitcoin Leader: Innovation and Adoption on the Rise

• Bitcoin Magazine published an article about Ethiopia’s potential to turn to Bitcoin as inflation numbers rose.
• Yilak Kidane ran a full Bitcoin node using a Raspberry Pi 4 and live streamed the process from Addis Ababa.
• An introductory class titled “Bitcoin 101” was held in Addis Ababa to increase education and adoption of Bitcoin.

In 2022, the global Bitcoin community experienced a resurgence of excitement and growth, particularly in Africa. With a much younger population than many other continents, the 54 countries of the continent are increasingly primed for Bitcoin. One of the most promising nations for Bitcoin adoption and innovation is Ethiopia, with a slew of news and highlights that have emerged over the past year.

The year started with a powerful statement from Project Mano, a publication from Bitcoin Magazine. In the article, “Suppressed by World Superpowers, Ethiopia Should Turn To Bitcoin”, the publication notes that Ethiopia’s inflation numbers had reached 35.1% and 41.6% for food inflation. This was a strong call to action for the nation to explore Bitcoin and its potential to mitigate the effects of inflation.

Yilak Kidane, a Bitcoiner from Ethiopia, responded to this call to action by running a full Bitcoin node using a Raspberry Pi 4 and live streaming the process from Addis Ababa. This was a powerful show of support for the power of Bitcoin, and an inspiration to other Bitcoiners in the nation.

The Prime Minister of Ethiopia, Dr. Abiy Ahmed, also lent his support to Bitcoin in the country. At an inaugural celebration for the Commercial Bank of Ethiopia, Ahmed encouraged the bank’s institutional bankers to research innovative technologies “like cryptocurrencies”.

The Grand Ethiopian Renaissance Dam (GERD) also began producing energy in the first quarter of the year. This massive hydroelectric project is expected to harness 6,450 megawatts of energy, and is a major milestone for the nation.

In response to the growing interest in Bitcoin, an introductory class titled “Bitcoin 101” was held in Addis Ababa. The class was inspired by books from Bitcoin-focused authors like Jimmy Song, Andreas Antonopoulos and Saifedean Ammous, and was aimed at increasing education and adoption of Bitcoin in the country.

The second quarter of the year saw a few key publications and articles about Ethiopia’s potential to adopt Bitcoin. BTC Times published “Ethiopia’s Best Chance At Adopting Bitcoin”, while Project Mano delved further into the possibilities of Bitcoin in the nation with “How Ethiopia Could Capitalize On Bitcoin”.

As the year comes to a close, it’s clear that Ethiopia is poised to become a leader in Bitcoin adoption and innovation in the coming years. With a population that is eager to explore the possibilities of Bitcoin and a government that is supportive of its development, the future of Bitcoin in Ethiopia is bright.