President Trump has called for all remaining bitcoins to be mined in the U.S., but experts say practical considerations such as global competition and the decentralized nature of bitcoin could make that nearly impossible.

In June, President Trump met with executives from U. S. #bitcoin #mining companies at Mar-a-Lago to discuss the potential for job creation and energy dominance, with representatives from Riot Platforms, MARA Holdings, TeraWulf, CleanSpark and #Core Scientific in attendance.
After the meeting, Trump said on social media Truth: "Biden's hatred of bitcoins will only help China, Russia and the radical communist left. We want all remaining bitcoins to be produced in the US! That way we can become an energy dominant nation.
After his initial pledge, Trump continued to emphasize his commitment to domestic bitcoin production. In subsequent speeches, he has also said that if #cryptocurrencies are going to have any impact in the future, he wants them mined in the U. S.
However, experts are skeptical about the feasibility of Trump's promises.
"Trump-inspired comments, but definitely not true, said a spokesperson for a mining company. Ethan Vera, chief operating officer of Seattle-based Luxor Technology, which provides software and services for miners, told Bloomberg.
With about 95% of the 21 million bitcoins already mined, controlling future mining will be a major challenge, said Taras Kulik, CEO of
Synteq Digital, which has always been global. The U. S. cannot monopolize bitcoin mining. Currently, U. S. miners account for less than 50% of the total computing power used to mine bitcoin.
Meanwhile, countries like China, Kazakhstan and Russia have become major bitcoin miners due to lower energy costs and less regulatory oversight.
Russia recently introduced a legal framework that defines the rights and obligations of miners. The law, signed by President Vladimir Putin, recognizes mining as a legal economic activity and allows registered legal entities and individual entrepreneurs to engage in it.

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According to analysts at Wintermute, who expect more companies to follow the trend of incorporating bitcoin into their balance sheets at the corporate level as 2025 approaches. Jake Ostrovskis, an OTC trader

Wintermute, believes that the main driver next year will be the increased participation of large companies, followed by institutional investors and listed companies. He also predicts that small and medium-sized enterprises (SMEs) will join the movement, further expanding the corporate #bitcoin investor base.
the company, known for its micro-strategy-based strategy, has accumulated US$10 billion worth of bitcoins and is using its capital to acquire another US$42 billion. It plans to acquire US$42 billion worth of bitcoins. This approach has prompted other bitcoin #mining companies such as Mara and Riot to issue convertible bonds to acquire more bitcoins. In addition, companies such as Metaplanet are exploring new opportunities and plan to raise US$31.8 million in bonds to accelerate their bitcoin acquisitions.
Ostrovskis said that compared to traditional approaches such as pension funds and sovereign wealth funds, corporate bitcoin According to him, the growing interest in bitcoin investment is contributing to a more dynamic approach. While much attention has been focused on the potential impact of bitcoin ETFs, Ostrovskis notes that corporate capital is moving faster and more freely, which is an important factor for the future growth of #cryptocurrencies .
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KEY POINTS Bitcoin payments in Russia are being used by companies under new legislation aimed at countering Western sanctions.

the Kremlin has introduced a legal framework for #cryptocurrency #mining and international trade in an attempt to reduce reliance on the U. S. -dominated financial system. LINE_. BREAK Russia has begun using #bitcoin and other #cryptocurrencies to pay for and receive foreign goods as part of an attempt to reduce the impact of Western sanctions.
Finance Minister Anton Siluanov confirmed that Russian companies are trading bitcoin across the border in accordance with new legislative measures.
Russian bitcoin payments came about after Russia's ability to make international payments was hit hard by a series of sanctions imposed after the invasion of Ukraine in 2022.
Transactions with countries such as China and Turkey, which do not use the U. S. dollar, are becoming increasingly difficult. becoming increasingly difficult. In response, Russia has proposed a law allowing cryptocurrencies to be traded in foreign trade and has also developed plans to regulate bitcoin mining.
Last month, the Kremlin created an experimental legal framework for cryptocurrency mining. This will allow approved organizations to mine cryptocurrencies such as bitcoin and use them for international payments.
President Vladimir Putin accused the U. S. of turning the dollar into a political weapon, which is why many countries are looking for decentralized alternative currencies such as bitcoin. He said that is why he is looking for a decentralized alternative currency such as bitcoin.
However, according to analysts, there are serious obstacles to large-scale bitcoin payments in Russia. Not all countries have clear laws and regulations to facilitate the development of bitcoin payments, and Western financial regulators may use their influence to restrict the use of bitcoin.
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As of December 24, bitcoin's 2024 return was 113%, but the stock prices of most miners failed to capitalize on the cryptocurrency's rise and ended the year in the negative According to

Hashrate Index and Google Finance, listed miners ended 2024 in the negative for most of them, with a drop of 84%. Of the 25 miners listed in the
index, only seven made investors a profit last year. At the time of writing, Bitdea (BTDR) is up 167%, Cipher (CIFR) is up 33%, Hat8 (HUT) is up 91%, Iris Energy (IREN) is up 72%, Northern Data (NB2) is up 58%, #Core Scientific (CORZQ) is up 327%, and TerraWolf (WULF) is up 169%.
Meanwhile, Argo Blockchain (ARB) is down 84%, Sphere 3D (ANY) is down 69%, MARA Holdings (MARA) is down 12%, HIVE (HIVE) is down 29% and Greeridge (GREE) is down 74%, BitFarms (BITF) is down 44%, BitFU (FUFU) is down 18%, etc.
Overall, 2024 will be a year of adjustment for #bitcoin #mining companies as they focus on reducing fees, increasing costs, and finding new revenue streams to sustain their businesses. Since the inception of the network
miners have earned a total of more than $71 billion, but roughly every four years, an event occurs that halves the revenue from mining new blocks. Most recently, in April, the value of bitcoin plummeted and miners' rewards dropped from 6.25 #BTC to 3.125 BTC.
According to Blockchain. com, as of Dec. 22, miners earned $42 million, down from more than $100 million in April.
Meanwhile, the complexity of creating new blocks on the bitcoin blockchain has doubled since last year, adding pressure to the rising operating costs associated with bitcoin mining. The average difficulty level for bitcoin is now 108.52, up from 72.01 a year ago, reflecting a 50.71% increase over the past 12 months.
Increased operating costs have also driven up the cost of mining. For example, BitFuFu reported a 168 percent increase in bitcoin mining costs to $51,887 per BTC, as well as a 62.5 percent increase in mining capacity.

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Another major cryptocurrency company buys bitcoin for about $100 million

Hut 8, a well-known #bitcoin #mining company, has made a major investment by buying 990 bitcoins worth about $100 million
The purchase, with an average price per coin of 101,710, has significantly increased the company's bitcoin holding of over 10,000 BTC worth about $1 billion. With this strategic move, Hut 8 has become one of the top 10 largest bitcoin holdings of institutional investors.
the Miami-based company is not just utilizing its growing bitcoin holdings for storage, but also employing various financial strategies, including options and other derivatives, to generate profits. Asher Genuth, CEO of Hut 8, explained that large holdings will not only strengthen the company's financial position, but also lower its cost of capital. He hinted at future acquisitions if market conditions prove favorable for further acquisitions.
This move follows the launch of Hut 8's $500 million equity program to support bitcoin purchases and other strategic investments. The mining industry is following a similar strategy, with companies such as Riot Platforms and MARA Holdings adding bitcoin to their balance sheets.
Hut 8's approach reflects a growing trend in the mining sector. Bitcoin is no longer seen simply as a commodity to be mined, but as a versatile financial asset that can support a range of strategies to enhance returns Genoot believes that their bitcoin stocks offer not just potential price appreciation, but sustainable returns. They noted that they are part of a broader financial ecosystem designed to generate
SHARE: El Salvador recently added $1 million in bitcoins to its strategic bitcoin reserve, just one day after signing a $1.4 billion loan agreement with the International Monetary Fund (IMF).
U. S.
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Despite his misgivings, Nakamoto believed that bitcoin's efficiency would surpass traditional finance.

The email provided a broader vision of #bitcoin and suggested possible uses beyond money.
Nakamoto feared that presenting bitcoin as an investment would attract unwanted attention.
Recently published emails from the early days of bitcoin offer a glimpse into the mind of its enigmatic creator, Satoshi Nakamoto. Published by Martia Marmy, a key figure in the development of bitcoin, the emails reveal Nakamoto's foresight about the potential power the #cryptocurrency would require and his fear of legal scrutiny.
The letters, dating back to 2009, were made public as part of a lawsuit against Craig Wright, who claims to be Nakamoto. While the legality of the lawsuit is still being debated, the emails provide valuable insight into the early development and challenges bitcoin faced.
One key point is Nakamoto's perception of the power consumption inherent in Bitcoin's proof-of-work (PoW) consensus mechanism. PoW, necessary to protect the network and prevent double-spending, requires significant computing power, raising concerns about its environmental impact.
Recognizing these concerns, Nakamoto argued that bitcoin's power consumption is less than the inefficiencies of the traditional banking system. He envisioned bitcoin replacing "billions of dollars of bank fees" and resource-intensive infrastructure with a more efficient system.
Satoshi believed that bitcoin #mining would be less energy-intensive than the traditional banking system.
Interestingly, the letter also reveals that Nakamoto saw bitcoin not only as a financial instrument, but also from a broader perspective. He saw bitcoin as a "decentralized, secure time information provider" that could time-stamp any information with a few lines of code. This suggests that he envisioned potential uses for bitcoin beyond the monetary sphere.

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In a recent dialogue, Jack Dorsey and Luke Dashjr shared their perspectives on the development and future direction of Bitcoin. According to Dashjr, #Bitcoin has transformed from a simple project into a serious initiative. Dorsey supported this view, emphasizing Bitcoin's resilience and sophistication over time. Both appreciated the community's ability to identify and address new challenges.
Dorsey's Vision: Bitcoin as a Catalyst for Global Peace and Energy Abundance
Dorsey believes that Bitcoin has the potential to contribute to global peace and energy abundance. The conversation also focused on the current state of Bitcoin mining. Dashjr described the #mining situation as problematic, with a small number of entities controlling the blockchain. Dorsey noted that systemic incentives lead to centralization, complicating the decentralization of mining.
Addressing the Issue of Centralization in Bitcoin Mining
Ocean Mining: The Key to Decentralization of Mining
Dorsey stated that Ocean Mining represents a solution for the decentralization of mining. It aims to restore a decentralized mining process, enabling miners to create blocks independently of mining pools. Dashjr highlighted Ocean's methods for a more transparent and efficient mining process.
Bitcoin Mining in Africa and the Developing World
Dorsey also pointed out the possibilities of Bitcoin mining in Africa and developing countries. He introduced initiatives like Gridless, which utilize renewable energy sources for mining while also providing electricity to local communities.
Dispelling Myths about Bitcoin Mining
Dorsey focused on clarifying misconceptions about mining, emphasizing the importance and energy efficiency of the process. Dashjr emphasized the importance of running full nodes for network security. Dorsey concluded the discussion by highlighting the need for more use cases of Bitcoin, particularly in the areas of remittances and as a store of value.
$BTC
#blockchain #crypto

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Gold vs. bitcoin: which is better for storage?

Meanwhile, #bitcoin supply is dwindling and gold risks becoming oversupplied in the coming years; after the April 20 "halving" event, #BTC shortages will become even more pronounced in the coming years.
Since its launch, the bitcoin network has cut its daily #issuance to miners in half. In its fifth phase, the network issues 3.125 BTC to successful miners or #mining pools every 10 minutes. This figure is 50% lower than in the fourth period, when the reward was 6.25 BTC per block.
Gold and bitcoin are generally considered safe assets. However, over the last century, gold has become the preferred store of value for banks and countries due to its scarcity. Almost every central bank in the world keeps gold as a reserve.
However, Mr. Wu believes that gold holders will face a difficult situation in the coming years as new supplies flood the market due to technological advances that have increased the pace of production.
Mr. Wu is a supporter of bitcoin. Bitcoin is a digital asset that is considered digital gold due to its predetermined and transparent issuance schedule. According to Mr. Wu, traditional gold investors are unaware that the yellow metal is a "slow-moving carpet" that will rise over the next decade.
Is BTC ready for a sharp rise?
In another post on the site, X Wu argues that the bitcoin price ratio suggests that the coin is poised for a mega-reversal: despite bitcoin soaring to $73,800 in March 2024, the rally hasn't even started yet, the analyst continues.
The jump in the value of the coin beyond the previous all-time high of $70,000 was an aberration from past performance.
However, history shows that even if prices continue to rise further in the current period, new all-time highs will be reached according to Wu's predictions.

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