JAN14: difficulty at 110.45T, 8th positive adjustment; Ocean's DATUM uses coin age; BTC reserves low; Lummis probes FDIC's Chokepoint 2.0

14/01/2025 12 min

Listen "JAN14: difficulty at 110.45T, 8th positive adjustment; Ocean's DATUM uses coin age; BTC reserves low; Lummis probes FDIC's Chokepoint 2.0"

Episode Synopsis

Welcome to another insightful episode of Op Return from Bitcoin Park, where we delve into the latest happenings in the Bitcoin industry. Today, we explore four key topics that are shaping the landscape of cryptocurrency.First, we discuss the soaring Bitcoin mining difficulty, which has reached an unprecedented 110.45 trillion. This marks the eighth consecutive positive adjustment, a trend last seen during the 2018 bear and 2021 bull markets. The increase in network hash rate, now at 775 exahashes per second, reflects the resilience and growth of the Bitcoin network. Miners are diversifying into high-performance computing and AI, adapting to the competitive landscape, highlighting the abundance of untapped energy resources.Next, we examine the revival of Bitcoin's original transaction selection method through Ocean's datum mining protocol, which reintroduces coin age priority. This approach prioritises transactions based on the age and value of inputs, offering a nostalgic nod to Bitcoin's early days. While Ocean's mission towards decentralisation is commendable, there's a call for clearer messaging to avoid distractions from their core initiative.We then turn our attention to the plummeting Bitcoin reserves on exchanges, now at levels not seen since June 2018. This scarcity, driven by institutional buying, could lead to a supply shock, potentially propelling Bitcoin's price upwards. However, the market shows signs of trading paralysis, with volumes at their lowest since before the US elections.Finally, we cover US Senator Cynthia Lummis's pledge to investigate Operation Choke Point 2.0, accusing the FDIC of waging a corrupt campaign against the cryptocurrency industry. Whistleblowers have exposed alleged tactics against firms like Coinbase, raising questions about accountability and the potential consequences for those involved.Join us as we unpack these developments and their implications for the future of Bitcoin and the broader cryptocurrency ecosystem. Stay tuned for more updates from Bitcoin Park.

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