DIB 9 JUL 2024

BTC Daily Intelligence Bulletin (DIB)
Block: 851,404
DTG/ICOD: 1200Z 09Jul24
Precedence: Routine (RR)
Controls: Public Release
QQQQ
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BLUF: Kyiv Continues Rescue Effort at Children’s Hospital / Iran Has New President, More of the Same / China and Belarus Start Wargames Near Ukraine Border / Beryl Soaks Houston / Boeing Pleads Guilty / Middle Schoolers Learning 5GW / House Votes on SAB121 Tomorrow / Republicans All-In on Crypto and Bitcoin / Marathon’s Mine in Texas in Crosshairs / NC Governor Vetoes Anti-CBDC Bill / Germany Continues Dumping BTC / SECDEF Ordered to Study Blockchain As Power Tool

Market Data: Price: 1 BTC= $57,506, 24.03 oz Gold, .13 Median US House
24hr Hi: $57,861 / Lo: $55,240
Vol: $31B (Up 5%)
Mkt Cap: $1.13T (Up 1%)
HashRate: 640 EH/s
Avg Fee Rate: 5 sats/vBtye (Down 21%)
Nodes: 19,397

—Reports—
-International Events-
1. Kyiv mourns as rescuers make last-ditch efforts at children’s hospital hit by Russian missile: Rescue operations stretched into a second day at a major Kyiv children’s hospital struck by a Russian missile, Ukraine President Volodymyr Zelenskyy said Tuesday, adding that 38 people were killed and almost 200 injured in an intense daytime barrage that smashed into cities across the country. (AP)

2. Iran has voted in a reformist president — but change remains distant: Iran on Friday elected its first “reformist” president in 20 years, signaling many voters’ rejection of hardline conservative policies amid low turnout of just 49%, according to official figures. Masoud Pezeshkian, a former health minister and member of parliament, was the most moderate of the candidates vying for the presidency after the sudden death of former President Ibrahim Raisi in a helicopter crash in May. (CNBC)

3. China and Belarus conduct joint military exercises right next to NATO and EU’s border: Belarus and China kicked off 11-day joint military training exercises Monday, Belarus’ defense ministry said – with activities taking place just miles from the border of Poland, a NATO and European Union member. The joint exercises are being held at a training ground near the city of Brest on the Belarus-Poland border and some 40 miles from Minsk’s border with Ukraine. This latest showing of their security cooperation comes just days after Belarus joined the Beijing and Moscow-backed Shanghai Cooperation Organization (SCO) on Thursday. (CNN)

-US Events-
1. Hurricane Beryl tracker: Houston damage, flooding, power outages: Beryl left a trail of downed trees, flooded roads and power outages as it roared across the Houston area on Monday morning. Beryl made landfall near Matagorda in the early morning hours as a Category 1 hurricane but weakened to a tropical storm a few hours later. On Monday evening, it was downgraded to a tropical depression. The storm remnant is now headed toward the central states and great lakes areas. (Fox26)

2. Boeing to plead guilty to fraud over 737 Max crashes: Boeing will plead guilty to a criminal fraud charge in connection with two fatal 737 Max crashes in Indonesia and Ethiopia, per a Department of Justice court filing late Sunday. The deal falls short of what the families of the crash victims had wanted, including a criminal trial and a fine as high as almost $25 billion. (Axios)

3. Middle schoolers impersonated dozens of teachers on TikTok; concocted sexual rumors, offensive narratives: A group of Pennsylvania middle school students created fictitious TikTok accounts to impersonate teachers while making inappropriate comments, officials said Monday. The group of eighth graders in the Great Valley School District (GVSD) in Chester County made around 20 fake TikTok accounts impersonating teachers. The accounts were filled with pedophilic and homophobic remarks, racist memes and rumors about sexual hookups between staff members. (Fox) (AC-Even at this early age, these kids are learning the value of narrative warfare as the basics of 5th generation warfare. It will be more intense once this generation learns to use AI tools to conduct more serious efforts.)

-Regulatory and Legal-
1. D-Day For Crypto: SAB 121 Veto Showdown Set For Wednesday: The US House of Representatives is scheduled to vote on significant crypto legislation on Wednesday, July 10. This vote might override President Joe Biden’s veto of the Securities and Exchange Commission’s (SEC) resolution to repeal Staff Accounting Bulletin 121 (SAB 121). (Bitcoinist)

2. Republican Party Makes a Promise to Defense Bitcoin: The Republican National Committee’s new policy platform has published a document to protect and promote crypto assets. “Republicans will end Democrats’ offensive and unAmerican Crypto crackdown and oppose the creation of a Central Bank Digital Currency,” “We will defend the right to mine Bitcoin and ensure every American has the right to self-custody their Digital Assets and transact free from Government Surveillance and Control.” (BItcoinSensus)

3. ‘We’re Living in a Nightmare:’ Inside the Health Crisis of a Texas Bitcoin Town: Over the course of several months in 2024, TIME spoke to more than 40 people in the Granbury area who reported a medical ailment that they believe is connected to the arrival of the Bitcoin mine: hypertension, heart palpitations, chest pain, vertigo, tinnitus, migraines, panic attacks. A representative for Marathon Digital Holdings, the company that owns the mine, did not answer questions about health impacts, but told TIME that it is working to remove the noisy fans from the site. (Time) (AC-An obvious FUD article designed to be used as ammunition for the victim class and power-hungry that represent them.)

-Central Bank Digital Currencies-
1. North Carolina’s CBDC ban bill vetoed by governor: North Carolina Governor Roy Cooper has vetoed a bill banning the state from implementing a US Federal Reserve-issued central bank digital currency (CBDC) despite receiving near-unanimous support in the state’s House of Representatives and Senate. (CoinTelegraph)

-Institutional Concerns-
1. Bitcoin Continues Rebound as Spot ETFs See $295 Million in Deposits: U.S.-listed spot Bitcoin ETFs recorded nearly $300 million in net inflows on Monday, July 8, marking their highest buying activity since early June. (Decrypt)

2. German government continues bitcoin selling spree; less than half of its holdings remain: After a plethora of bitcoin transfers yesterday, the German government has sent an additional $339.2 million worth of bitcoin to addresses labeled as belonging to centralized crypto exchanges and market makers so far on Tuesday. he German government sent 800 bitcoins ($45.9 million) to the crypto exchange Kraken, 5,000 bitcoins ($287.1 million) to an address believed to be market marker B2C2 Group and nearly 107 bitcoins ($6.2 million) to market maker Cumberland DRW. (TheBlock)

-Economic Indicators-
1. S&P 500, Nasdaq Mark Another Fresh Records: The S&P 500 and the Nasdaq both closed at new records on Monday, with gains of 0.1% and 0.3% respectively, while the Dow Jones lost 31 points. Recent data showed US consumers’ 1-year inflation expectations fell for a second straight month in July. (TradingEconomics)

-Security Incidents and Concerns-
1. Senate urges DOD to explore blockchain tech for national security: The US Senate Committee on Armed Services has directed Secretary of Defense Lloyd Austin to explore potential applications of blockchain technology for supply chain management and national security within the Department of Defense. The report calls for the DOD to investigate blockchain use cases to “achieve national security goals and to create secure, transparent, accountable, and auditable data related to supply chains. “The committee notes that blockchain technology has the potential to enhance the cryptographic integrity of the defense supply chain, improve data integrity, and reduce the risk of the manipulation or corruption of certain types of data by near-peer competitors,” the report stated. (CryptoBriefing)

-Technology-
NSTR

-Bitcoin Community-
1. Bitcoin’s Mining Difficulty Has Decreased by 8%, Resulting in Lower Profitability and Daily Revenues: Bitcoin’s mining difficulty has dropped by 7.8% over the weekend, reaching levels not seen since March. The decrease in difficulty has resulted in a decline in miners’ profitability, with daily revenues falling from $78 million to $26 million. (CoinDesk)

2. Bitcoin miner Hut 8 enters into agreement for 205-megawatt Texas site: Bitcoin miner Hut 8 has entered into a power purchase agreement for a site in West Texas with 205 megawatts of immediately available power capacity and land.

-Bitcoin Sentiment-
1. Fear(0)/Greed(100) Index: 27/100 (Down 1 pts)

Analyst Comments (AC): The US Senate has directed the SECDEF to study blockchain technology in a manner put forth by Major Jason Lowery in his thesis “SOFWAR”. This is a significant development in the future warfare race in the cyber domain. As a nation-state such as the US considers the power projection capabilities of blockchain, best exemplified by Bitcoin, new strategies will emerge that even hardcore bitcoiners may not have considered. Other nation-states as well as decentralized entities may begin to study, understand and implement this new type of power dynamic leading to a revolution in warfare and power conflict. This would lead to a new era a warfare that may be similar to the thesis put forth by Lowery.

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Analyst: BV2A
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*NSTR-Nothing Significant To Report