Bitcoin’s still learning who it really is.

And in Bitcoin’s coming-of-age movie, this may be the summer that it always remembers.

And no, it’s not because Bitcoin followed some train tracks to go see a dead body with its three closest friends, or recovered a baseball from its scary neighbor’s yard.

What was once a well-kept secret is becoming an exciting new trend, and while it means big things for Bitcoin, it means even bigger things for you.

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☕️ Bitcoin Hash Rate Hits All-Time High 🪙 📈

Bitcoin hit an all-time high hash rate of 465 EH/s on July 8, meaning that the Bitcoin network is more secure than ever.

A higher hash rate also indicates that it’s extremely difficult, if not impossible, for a single entity to take over more than 50% of the Bitcoin network.

And though Bitcoin’s price has stagnated in recent days, we can take some comfort that BTC’s computational power is, quite literally, stronger than ever.

But while this is Bitcoin’s highest hash rate, it’s still not the highest hash rate ever.

That record belongs to Jasper Fredericks, a cook at a Waffle House in Atlanta, Georgia. Jasper chopped 400 onions and potatoes in under an hour to create 192 orders of hash browns, the highest hash rate of all time.

☕️ Snitch to Earn? 🤫 💸

A new blockchain exchange, Arkham Intelligence, is causing controversy across crypto with a problematic new incentive.

Arkham isn’t just for trading crypto, it’s for trading information.

Arkham Intelligence is seeking to end the anonymous nature of crypto by offering bounties for information on users’ identities and on-chain transactions.

Some users feel that this is a direct assault on the philosophy behind DeFi.

After a bounty is completed, Arkham will hold that exclusive information for 90 days before releasing it to the public.

Arkham has denounced any official connection to Arkham Asylum, the island facility that holds all of Batman's villains, though they have admitted they will pay handsomely for Batman’s secret identity.

☕️ England vs. Bitcoin ATMs 🇬🇧 🏧

The English Financial Conduct Authority (FCA) is actively fighting Bitcoin ATMs.

These machines are unregulated in England and the FCA alerted consumers that any Bitcoin ATM operating in the U.K. is illegal.

The FCA has been warning consumers about these machines since March 2022, but their warnings have gone unheeded.

So far, the FCA has shut down 26 Bitcoin ATMs across the country.

But it’s too late for some citizens. One user deposited 1,000 British pounds into an ATM and was told the transaction failed, but the machine kept the money.

Despite the crackdown, we all know that the real criminals aren’t the ATMs, but the tiny men inside who operate them.

Spilling the Beans

The Next Billion-Dollar Bitcoin Secret 💰 🤯

Passive income is the key to wealth generation.

It’s well-known and well-documented. No matter how hard you work, there simply aren’t enough hours in a day.

To truly thrive today, you need your money to work while you sleep.

But what if your best source of passive income was about to get an absolute glow-up?

And no, we’re not about to tell you to stake your crypto. But yes, you should already be doing that.

What we’re here to talk about, a Bitcoin practice you can’t afford to miss out on, are ETFs.

ETFs are Exchange Traded Funds, and whether you’re planning on buying one or not, they’re going to have a huge, positive impact on your Bitcoin holdings.

That’s because corporate titans such as BlackRock or Ark INVEST are all-in on ETFs. This means that increasingly more investors will enter the Bitcoin market, whether or not they’re actually holding Bitcoin.

But how is that possible? Well, let us explain.

Bitcoin ETF managers offer shares to the public market, investors like you and me.

Then, investors buy those shares, and their investment fluctuates with Bitcoin without actually being Bitcoin.

In fact, the managers may not be holding Bitcoin either, depending on which type of ETF they’re running.

In a futures Bitcoin ETF, the shares are based on Bitcoin’s futures contracts rather than Bitcoin itself.

In a spot Bitcoin ETF, on the other hand, the manager holds a proportionate amount of Bitcoin to back every share their ETF issues.

Now, both futures and spot Bitcoin ETFs have had a very hard time getting SEC approval. So far, not a single one has made it through the SEC’s approval process.

However, strangely enough, the SEC has approved a leveraged Bitcoin futures ETF.

And that decision rightfully drew some ire from the institutions waiting to have their applications considered.

But while there are many applications in the works right now, we don’t know if all (or any of them) will ultimately be approved.

It may only be a matter of time. This opportunity may even be too juicy for the career bureaucrats at the SEC to pass up.

Like hundreds of newly-hatched baby sea turtles crawling frantically toward the ocean, some of these ETF applications must survive, and make it into the open ocean.

And when that happens, whether you buy into ETFs or not, Bitcoin’s going to ride those turtles to higher prices and calmer waters.

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They don’t want you to know the secret… 🤐

Crypto 101

Doxxing: This term existed long before crypto, but DeFi’s anonymous nature has brought it back into vogue.

Doxxing entails revealing the identity, address, or other crucial and private information of someone who wishes to remain anonymous online.

The effects can be devastating, which is why doxxing is rightly regarded as a high crime in terms of online decorum.

The Last Sip

Arkham Intelligence is incentivizing snitching with crypto rewards. We don’t think this practice is right. But admittedly, there are some things we’d like to know.

Here are some of our Arkham Intelligence bounties.

3. What happened in Jeffrey Epstein’s cell? Actually.

2. We’d like to know Jennifer Anniston’s skincare routine.

1. Who at this high school is the real singer-songwriter/teen pop sensation Hannah Montana?

Stay Caffeinated,

Coffee & Crypto Team

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