RFK JR

RFK Jr. Announces Run as Independent, Not Democrat

The scoop: Robert F. Kennedy Jr., previously challenging President Biden for the Democratic nomination, has shifted his course and announced that he will run for president as an Independent candidate.

In his words: "We declare independence from the two political parties and the corrupt interests that dominate them, and the entire rigged system of rancor and rage, corruption and lies," expressed Kennedy amid applause.

Letting Go: Having been known for criticizing political elites, RFK Jr. confessed, "It is very painful for me to let go of the party of my uncles, my father."

Why It Matters for Bitcoin: Previously, he's described Bitcoin as the "currency of freedom" and criticized the Canadian government's handling of the trucker protests, implying a preference for decentralized systems and personal autonomy.

❌ The crypto community on X (Twitter) urges Elon Musk to delete an account impersonating Bitcoin creator Satoshi Nakamoto. This account reportedly breaches X's terms, which prohibit "misleading and deceptive" identities. The account, alleged to be run by a user named Andy Rowe since 2018, recently made a post after being inactive since October 2018. Many in the crypto community supported the call to remove the account, deeming it "embarrassing".

🏛️ Sam Altman of Worldcoin and OpenAI highlights concerns over the US government's stringent stance on Bitcoin. He advocates for nuanced regulation to safeguard innovation and prevent potential industry migration overseas, emphasizing the strategic importance of the Bitcoin sector in global finance.

🚀 Binance CEO, Changpeng Zhao, predicts new all-time highs for Bitcoin after the 2024 halving event. Historically, halvings, which reduce miner rewards by 50%, have led to major price surges. Zhao's forecast aligns with previous market trends, indicating the upcoming halving could drive Bitcoin to unparalleled price heights. The next halving is estimated to be 190 days away.

✖️BitVM was all the rage on X.com this week. BitVM introduces arbitrary computation on Bitcoin without requiring a fork, a significant technological advancement. This new capability would mean Bitcoin can now support more complex operations and applications, traditionally outside its scope. BitVM would potentially enhance Bitcoin's utility and potential for broader adoption, offering features that previously required other platforms or chains.

🇺🇿 Uzbekistan's government has approved new licensing rules for crypto and Bitcoin mining. The regulations set clear criteria for acquiring mining licenses, covering areas such as capacity thresholds and equipment standards. The new rules limit individuals from mining.

🔒 TREZOR teases new product. TREZOR, maker of the first bitcoin hardware wallet, is teasing a new product launch on October 12. Many are guessing the company will introduce a new hardware wallet. Currently, TREZOR offers the TREZOR One and TREZOR T.

📉 ETH/BTC ratio drops below 0.06. The Ethereum to Bitcoin ratio, or ETH/BTC price, has dropped below 0.06. The last time the price was this low was July 2022.

Joe Rogan Endorses Bitcoin as Potential Global Standard Currency

The Scoop: Renowned podcaster Joe Rogan recently expressed his opinion on Bitcoin, endorsing it as the most probable contender for a universal, viable currency. Rogan's influence in the media landscape cannot be understated, given his vast amount of listeners and reach.

In Rogan’s Words: "Bitcoin seems to be the most likely candidate for something that could be a universal currency... something that is viable across the world."

Bitcoin’s Potential: Rogan's endorsement reflects a growing sentiment that Bitcoin's decentralized nature and global acceptance make it a front-runner in the race for a universal digital currency.

Rogan and Bitcoin: The Bitcoin community has been pushing Rogan to have a Bitcoin guest on for years. The last Bitcoiner Rogan had on was Andreas Antonopoulos, but that was way back in 2016.

Do you think we will see another Bitcoin price run after the next halving?

Yes - 87%

No - 13%

👍 Yes: “Someone needs to explain why it takes six months to a year to see the really strong growth after the having” - Scott

👎 No: “We never had a long bear market as we are now. everytime when the halving happened the interest rates were low and inflation was low as well. let's see” - Jim

📉 The Ethereum Foundation sold 1,700 ETH. This transaction coincided with a minor price dip in Ethereum's value. The sale's impact on the market and its reasoning remain subjects of discussion. These sales continue to display the difference between Ethereum’s centralization, and Bitcoin’s decentralization.

🇪🇺 The European Commission has commissioned an €800,000 study to assess the environmental impact of cryptocurrencies. The initiative aims to understand and address the ecological concerns associated with digital assets.

👨‍💻 Bitcoin Optech newsletter #271 has been published. While more of a technical publication, it’s a useful read for anyone interested in learning more about the latest technical developments in Bitcoin.

Today’s newsletter was written by Jordan and edited by Colin.