Bitcoin Minimalist Week 19 - Grayscale, Nostr, and Paxful
To catch the weekly synopsis, consider subscribing to The Bitcoin Minimalist!
Grayscale ETF Pivot
After continual rejection from a Bitcoin ETF and a NAV of close to -(50)%, Grayscale is considering pivoting to a tender offer. This comes after owing its customers $900 million, some say due to the exposure to FTX.
Initially, the solution was to create an ETF to fix the NAV issues. But since they have been continually rejected, they are suggesting a tender offer, where purchasing back the shareholder's stock would be the solution.
Twitter has banned the promotion of other social media platforms. Former Twitter CEO, Jack, and other users started supporting Nostr, a decentralized protocol that can create censorship-resistant social platforms.
Now, Bitcoiners are running to set up and test the platform for themselves. Read more about how to get set up at usenostr.org
This morning, the CEO of Paxful, Ray, decided to remove Ethereum from their marketplace.
Ray has talked about doing this before but has recently pulled the trigger for Paxful which covers many emerging countries. Paxful, on average, exchanges around $45 Million in weekly volume.
Bitcoin continues its boring slide sideways in this bear market.
Fiat vs. Bitcoin
Public Bitcoin Miner Shares
ASICs and Heat Gradients
Bear Market Comparison
We have recently launched Bitcoinjobs.com! Looking for a job in the Bitcoin space? Visit Bitcoinjobs.com for more job openings.
What to read
The World’s Money Problem
Thanks for reading The Bitcoin Minimalist! Subscribe for free to receive new posts and support my work.