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Binance Removes Bitcoin Fees As Miners Consolidate

Binance Removes Bitcoin Fees As Miners Consolidate

Sats O'Clock
July 07, 2022

Wake Up! It's Sats O'Clock.

Good morning. It's July 7, 2022.

Bitcoin is hovering around $20K at the time of writing.

Binance is removing fees for buying Bitcoin.

JUST IN: Binance removes fees for buying #bitcoin 🙌
— Bitcoin Magazine (@BitcoinMagazine)
2:10 PM • Jul 6, 2022

Interesting words...

JUST IN: An Arab country might adopt "#bitcoin a lot sooner than you think." - Prince Filip Karadjordjevic of Serbia 🇷🇸
— Bitcoin Magazine (@BitcoinMagazine)
4:09 PM • Jul 6, 2022

Another example of why you need Bitcoin.

Someone transferred $81,215,000 in #Bitcoin and paid a fee of $147
That’s a transaction fee of 0.000181%
No government bank or third party had to verify the transaction, nor could they have STOPPED IT, if they wanted to.
— Watcher.Guru (@WatcherGuru)
3:32 AM • Jul 7, 2022

Who listened?

Satoshi Nakamoto promoting #Bitcoin at less than $0.01, exactly 12 years ago ✨
— RIZZO (@pete_rizzo_)
11:45 AM • Jul 6, 2022

Hut8 Mining in Canada is growing.

💥JUST IN: #Bitcoin miner HUT8 just added 5,800 mining rigs to it's operations in Ontario, Canada 🇨🇦
— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive)
3:05 PM • Jul 6, 2022

Lyn Alden with some economic facts.

The price of food used at home rose 12% last year while average wages rose 6%.
Lots of noise in the data but this type of thing is a big piece of why consumer sentiment is so low.
Many analysts are too focused on nominal data, when it is the real data that mostly matters.
— Lyn Alden (@LynAldenContact)
5:22 PM • Jul 6, 2022

More crypto liquidations ensue.

Voyager’s Chapter 11 bankruptcy filing shows that Alameda Research (SBF) owes the firm $376 million.
AKA the same company many were hoping would bailout Voyager owes them $376 million…
— Dylan LeClair 🟠 (@DylanLeClair_)
6:50 PM • Jul 6, 2022

Miners face increased stress but the Bitcoin network runs smoothly as ever.

Miners have faced increasing pressure as hash rate has outpaced price.
Inefficient operations will be forced to liquidate their holdings and their ASICs as difficulty continues to ratchet higher.
Hash price will make new all time lows this bear market, as is tradition.
— Dylan LeClair 🟠 (@DylanLeClair_)
2:31 PM • Jul 5, 2022

If you missed it...

We go back to Michael Saylor's fascinating talks with Robert Breedlove. Here is Episode 1.

MEME OF THE DAY

We have all been there.

Absolutely brilliant 👏🏼😂
— Autism Capital 🧩 (@AutismCapital)
11:15 PM • Jul 1, 2022

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