Monthly Archives: June 2022

NASA’s Perseverance rover on Mars has a ‘pet rock’ along for the ride – Space.com

Posted: June 11, 2022 at 1:47 am

NASA's Perseverance rover has picked up a rocky hitchhiker on Mars.

The rover has collected a "pet rock" tucked inside its left front wheel that has been riding along with Perseverance since early February. So far, its ridden across 5.3 miles (8.5 kilometers) with the Perseverance rover as it drives across its Jezero Crater home on Mars.

"This rock isn't doing any damage to the wheel, but throughout its (no doubt bumpy!) journey, it has clung on and made periodic appearances in our left Hazcam images," Eleni Ravanis, a student collaborator on NASA's Perseverance mission from the University of Hawaii at Mnoa, wrote in an update (opens in new tab).

Related: Perseverance rover captures gorgeous video of solar eclipse on Mars

According to Ravanis, Perseverance picked up the small Mars rock on Feb. 4, the rover's 341st day (or Sol as Mars days are called) on the Red Planet. At the time, Perseverance was exploring a rock formation called "Maz" that scientists think was made up of ancient lava flows.

Since then, Perseverance has carried the rock north across its landing site, named for the famed late science fiction author Octavia E. Butler, and then west across the remains a region called "Kodiak," the remains of a former delta at Jezero. The rover is currently in the midst of what NASA calls its Delta Front Campaign and may have drilled into its first sedimentary Mars rock, Ravanis wrote.

"Perseverance's pet rock is now a long way from home," Ravanis wrote. "It's possible that the rock may fall out at some point along our future ascent of the crater rim. If it does so, it will land amongst rocks that we expect to be very different from itself."

If that happens, a future Martian geologist might be a bit confused to find the rock so out of place, Ravanis added.

Hitchhiking rocks are no strangers to NASA's Mars rovers.

In 2004, the Spirit rover picked up what Ravanis described as a "potato-sized" rock in its right rear wheel that eventually had to be dislodged. Perseverance's cousin, the older Curiosity rover that will celebrate its 10th year on Mars in August, has also picked up rocks in its own battered wheels every now and again as it continues its own mission in Mars' Gale Crater.

"While it's unclear exactly how long these rocks stuck around, they tended to hop off after a few weeks," Ravanis wrote. "Perseverance's current companion is therefore on its way to setting Mars hitch-hiking records!"

Email Tariq Malik attmalik@space.comor follow him@tariqjmalik. Follow us@Spacedotcom, Facebook and Instagram.

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"Marsquakes": The Red Planet has two types of seismic activity – Big Think

Posted: at 1:47 am

The Earth is a dynamic, living planet. Volcanism, plate tectonics, and earthquakes are constantly reshaping it. These forces shuffle the continents, create new islands, and even change the atmosphere.

Mars is rather boring in comparison. The whole planet is made of a single plate. Without plate tectonics, the same location on the planets surface sits atop Mars active hotspots. This leads to enormous volcanoes. Indeed, Olympus Mons is the largest volcano in the solar system. Beneath the immobile crust lies a mantle that is relatively inactive. On Earth, convective currents within the mantle circulate rock from deep within the earth to the underside of the planets crust. These currents are responsible for giving Earth its protective magnetic field. Mars once had currents like these, too. Billions of years ago, however, they stopped, causing Mars magnetic field to vanish.

It would seem, then, that the interior of Mars is pretty quiet. Yet every once in a while, a marsquake rattles its surface. Are these quakes a sign that there is something more going on under the surface of Mars? Or do they originate in a way we would expect, based on what we already know? To find out, two scientists, one from the Chinese Academy of Sciences and another from Australian National University, teamed up to try to understand the origin of marsquakes. Their results were recently published in Nature.

NASAs little InSight Mars lander has been busy. Since November of 2018, when it landed on Mars, the spacecraft has collected a treasure trove of data that scientists back on Earth have been using to understand the interior of Mars from its crust through its mantle to its core.

One of InSights goals was to find marsquakes. So a few weeks after landing, it deployed a seismometer on the surface of Mars. The seismometer detected everything from marsquakes to meteor impacts it even picked up the vibrations caused by Martian dust storms. InSight has detected about 1,300 marsquakes, which comes out to about one per day.

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As a comparison, Earth seismometers detect between about 500,000 and 1 million earthquakes every year, Hrvoje Tkali, one of the authors of the study, told Big Think.

Most marsquakes are small, with magnitudes ranging from 1 to 3. The largest, recorded at the beginning of May, registered a magnitude of 5.Marsquakes are hard to identify, though. Since they are small, they often get lost in the noise. Wind shaking the seismometer can be enough to drown them out. Thats why Tkali and his colleague, Weijia Sun, used a new method to detect marsquakes that had gone unobserved before.

By looking at the data itself, and not at isolated events, they could search for commonalities that marsquakes shared. One method, called the matched filter technique, worked particularly well. It allowed them to identify events as quakes because they had similar waveforms to other quakes. By doing this, the researchers were able to detect 47 new low-frequency marsquakes in the InSight data.

Marsquakes are divided into two event types: high-frequency events and low-frequency events. High-frequency marsquakes usually originate from shallow locations.

There are two main types of high-frequency events, Tkali explained. Distant shallow quakes that we dont fully understand, but they seem to represent energy that is guided through the Martian subsurface; and those due to background noise. This noise could be anything from wind to fluctuations in temperature. For example, many of these events are clustered on either side of sunset, when big temperature changes affect the Martian surface.

Low-frequency events are rare, but they provide invaluable information from deeper within Mars down to its deep crust and even into the mantle. It is these events that especially interested Sun and Tkali.

InSights seismometer was deployed in an area called Cerberus Fossae. This is a location with large tectonic faults and fissures, as well as massive vertical cliffs created from tectonic activity. Mars has only one plate, so Cerberus Fossae is similar to regions on Earth that have earthquakes because of where they sit in a plates interior.

The fact that Mars has a single plate doesnt mean that that plate is homogeneous, explains Tkali. You can have a plate buckling in the middle because of the convection in the mantlesay, upwelling of a hot material that would cause a plate to buckle. This way, you can get tectonic quakes in a sense that they are related to a plates dynamics.

However, these low-frequency events seem to be clustered. When one happens, others are sure to follow. The repetitive nature of the newly discovered events strongly suggests their relationship with magmatic events, Tkali said.

This means that these small earthquakes could be caused by the movement of magma within Mars. This is surprising. The discovery could indicate that the mantle of Mars is more dynamic than previously supposed.

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"Marsquakes": The Red Planet has two types of seismic activity - Big Think

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Curiosity Has Found Some Truly Weird-Looking, Twisty Rock Towers on Mars – ScienceAlert

Posted: at 1:47 am

The Curiosity rover has found an outstanding rock formation piercing the alien landscape of Mars.Amongst the shallow sands and boulders of the Gale Crater rise several twisting towers of rock the spikes of sediment look almost like frozen streams of water poured from an invisible jug in the sky.

In reality, expertssaythe columns were probably created from cement-like substances that once filled ancient cracks of bedrock. As the softer rock gradually eroded away, the snaking streams of compact material remained standing.

Rock formations found on Mars. (NASA, JPL-Caltech, MSSS)

The rock formations weresnapped by a camera on board the Curiosity rover on May 17, but the image was only shared last week by NASA and experts at the SETI institute (which stands for the Search for Extraterrestrial Intelligence), as part of SETI's planetary picture of the day initiative.

As alien as the structures might look, they aren't without precedent.

In Earthly geology, a 'hoodoo' is a tall and thin spire of rock formed by erosion. It can also be called a tent rock, fairy chimney, or earth pyramid.

Hoodoos are usually found in dry environments, like the canyons of Utah or southern Serbia, and the columns can sometimes tower as high as ten-story buildings.

A hoodoo in Bryce Canyon, Utah. (Don Graham/Flickr/CC BY SA 2.0)

The natural structures are formed by hard rock layers that build up within softer sedimentary rock. As the rest of the rock erodes away from rain, wind or frost, you're left with a magnificent mould of an ancient fracture in the bedrock.

Hoodoos East Coulee, Alberta, Canada. (Darren Kirby/CC BY SA 2.0)

The two towers of rock on Mars look like they are about to topple over compared to the ones we see on Earth, but clearly they are solid enough to withstand the lighter surface gravity experienced on the red planet.

Another strange rock formation found by Curiosity earlier this year might have been created in a similar way, albeit with very different results.

This other, smaller rock looks sort of like a piece of coral or a flower with numerous little petals stretching up towards the sun.

"One theory that has emerged is that the rock is a type of concretion created by minerals deposited by water in cracks or divisions in existing rock," a press release from NASA explained at the time.

"These concretions can be compacted together, can be harder and denser than surrounding rock, and can remain even after the surrounding rock erodes away."

A flower-shaped rock found on Mars. (NASA, JPL-Caltech, MSSS)

The Gale crater isn't wholly flat, but the alien spires discovered by Curiosity stand out from the rest of their environment, although no height measurements accompany the image.

The towering tombstones of rock might look lifeless now, but their formation speaks volumes about ancient conditions on Mars and whether life could have once thrived there billions of years ago.

The Gale crater itself is thought to be a dried-up lake bed, though possibly shallower and more transitory than experts once assumed.

Rock formations in and around the ancient lake are helping to reveal the region's true history.

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Amazon to join Mondelz International and Mars as a founding member of the Climate Resolute Coalition – Group Aims to Accelerate Progress on Climate by…

Posted: at 1:47 am

Amazon, Mondelez & Mars launch Climate Resolute Coalition -- promoting gender equity in companies as a climate strategy

Cathy Pieters, Vice President, Sustainable Ingredients and Cocoa Life at MondelzInternational, the first CRC member, said: "As we celebrate the 10th anniversary of Cocoa Life our flagship cocoa sustainability program - we reflect on just how much our longstanding focus on women's empowerment in cocoa communities has been instrumental to make a real difference and amplify our impact. We see firsthand how there can be no lasting progress on tackling climate change without lifting the voices of women at each and every table. We invite all companies to join us in this transformative journey."

CRC was formed to flip existing power dynamics. Evidence shows that as women's incomes and influence rise, climate outcomes improve, underscoring the value of companies focusing on gender equity and women's leadership in their supply chains as an innovative climate strategy alongside their other climate efforts . CRC is a cross-industry group comprised of supply chain practitioners and other experts that seeks to enable companies to innovate and test new approaches that put women at the center of climate solutions and raises awareness of the important role gender equity can play in creating more sustainable and resilient supply chains.

Lisa Manley, Vice President, Sustainability at Mars said: "We are thrilled to have Amazon join us as one of the Climate Resolute Coalition pioneers because the momentum we need to reach our sustainability goals will require unprecedented levels of collaboration and working together to unlock opportunities for women will supercharge innovation and action to address climate change and many other sustainability challenges."

Over time, CRC members will be able to contribute to a field-building research agenda, establish new business cases for gender and climate action, and scale transformative social and climate impacts. Gender equity is among the top solutions to climate change, however it is estimated by the World Economic Forum that it will take 136 years to close the gender gap a timeline that must be accelerated for gender equity to serve as a meaningful climate strategy. CRC invites additional like-minded companies, experts, donors, and governments to join this effort to leverage the power of global supply chains to unlock economic opportunities for women.

About the Convenors

The Mara Partners is a research, training and strategic dialogue organization that works to structure equitable solutions to environmental and human rights challenges through its pioneering Integrated Gender and Climate Framework. Our global team helps design, convene and lead equitable dialogues that harness the power of global supply chains to accelerate progress on climate change by raising the incomes-- and voices -- of women worldwide.

Kite Insights is a diverse, highly analytical and internationally minded team that prepares organisations and their people for the green economy. We develop and co-develop cutting-edge content, research, learning and education programmes, provide event curation and help clients build or participate in targeted coalitions that support their brand and purpose and reveal insights on issues that matter. We have extensive experience in structuring and brokering action-focused coalitions and partnerships, developing and managing agendas, secretariats, and community management. We believe that global challenges require urgent and thoughtful action, and that systems transformation should leave no one behind.

SOURCE Climate Resolute Coalition

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Amazon to join Mondelz International and Mars as a founding member of the Climate Resolute Coalition - Group Aims to Accelerate Progress on Climate by...

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Prophet remarks row: Over 100 arrested as violence mars UP, police say will recover damages from rioters – The Financial Express

Posted: at 1:47 am

Over 100 people were arrested from six districts in Uttar Pradesh after violent protests broke out in different parts of the state over BJP leader Nupur Sharmas recent remarks on Prophet Mohammad.Protesters pelted stones at policemen in Prayagraj and Saharanpur while protests broke out in four other cities.

In Prayagraj, some motorcycles and carts were set on fire and an attempt was made to set ablaze a police vehicle. Police used tear gas and lathis to disperse mobs and peace was later restored, they said, adding that one policeman was hurt in the region.

Additional Director General of Police (Law and Order) Prashant Kumar said that those involved in vandalisation have been identified and all the damages will be procured from them.

All those who indulged in vandalisation have been identified, cases being filed against them under serious sections. Procurement for all damages will be done; properties of the guilty will be seized under Gangsters Act. No one will be spared, Kumar said.

He said 38 protesters were arrested from Saharanpur, 15 from Prayagraj, 24 from Hathras, seven from Moradabad, two from Firozabad and 23 people from Ambedkar Nagar.

Chief Minister Yogi Adityanath chaired-level meeting with the top police officials of the state and directed strict against those involved in vandalisation and violence.CM Yogi Adityanath begins a meeting with top officials over todays incidents. The CM has given liberty and clear instructions to the officials to take stringent action against anti-social elements. Those who take the law into their hands will be taught strict lessons, the chief ministers office said in a statement.

There was slogan-shouting against the now-suspended BJP spokesperson Nupur Sharma over her remarks during a TV debate, also triggering outrage in several Islamic nations.

In Saharanpur, protesters demanded a death sentence for her.There were also protests in Bijnor, Moradabad, Rampur and Lucknow over the controversial remarks. Sloganeering took place in Lucknow.

According to local people, stone pelting continued for over 15 minutes in Prayagraj. They said some of the miscreants pelted stones at the police personnel deployed on the main road, as the situation escalated when more people joined the stone pelters.

Additional Chief Secretary (Home) Awanish Awasthi said, Minor force was used to stop some people involved in the violence. The situation in Prayagraj is now peaceful. I would like to appeal to people to use democratic ways of protest without resorting to violence.

Meanwhile, Uttar Pradeshs Director General of Police (DGP) D S Chauhan said no life has been lost because of the proper arrangements made by the state police.Because of our preparedness, no life has been lost. We will take strict action against those found involved in the violence, he said.

Additional Director General (ADG), Parayagraj Zone, Prem Prakash said a constable of Rapid Action Force (RAF) was injured during stone pelting in the region.Additional police force and teams of RAF were rushed to the spot. The police also fired tear gas shells and used force to stop the miscreants, he said.

In Saharanpur, people holding placards raised slogans against Nupur Sharma. Some of them also turned violent after the security personnel tried to stop them. This led to brief stone pelting in the Nehru market area of the city. Some madrasa students also raised slogans in the Deoband area.The protestors also raised slogans demanding capital punishment for the BJP leader.

District Magistrate Akhilesh Singh told PTI, Police had to retort to force when the protesters refused to hear the appeals of peace by police personnel. The protestors are being identified using CCTV footage for further action.

Four people, including the district president of AIMIM, were arrested in Bijnor as a precautionary measure.Superintendent of Police Dharamveer Singh said AIMIM district chief Abdullah along with one Iftekhar, Mahroof and Akil were arrested for inciting communal hatred.According to police, the accused called a gathering near Purani Musfi area in Bijnor.

The arrests were made on the complaint of people from the Muslim community, the SP said.People demanded action against the BJP leader and waved banners with Arrest Nupur Sharma written on them in Rampur and Moradabad.

In Kanpur, which was the epicentre of communal violence last week, the Friday prayers were held in a peaceful manner with no reports of any untoward incident. The prayers were held in a watertight security vigil by police personnel. A heavy police force was deployed in the area with senior police and administrative officials present on the spot.

This comes following clashes last week in Kanpur over the remarks on the Prophet at a TV debate some days earlier. A high alert was issued across the state after that, and a heavy police force was deployed to ensure that violence does not occur again.

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Prophet remarks row: Over 100 arrested as violence mars UP, police say will recover damages from rioters - The Financial Express

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Bitcoin, altcoins sell-off on record-high inflation, but traders still expect BTC to consolidate – Cointelegraph

Posted: at 1:47 am

Global financial markets once again find themselves trending lower on June 10 after the Consumer Price Index (CPI) came in at a blistering 8.6% year-over-year increase, the highest print since 1981.

The hotter-than-expected CPI print resulted in a collapse of the $30,000 support and Bitcoin (BTC) price sold off to a daily low of $28,852 before dip buyers managed to bid the price back above $29,000.

Heres what several analysts in the market are saying about the outlook for Bitcoin moving forward since there appears to be little relief on the inflation front and the Federal Reserve is still determined to raise interest rates.

The effect of the high CPI print on two benchmarks of financial markets, the dollar index (DXY) and the S&P 500 (SPX), was touched on by il Capo of Crypto, who posted the following charts noting that After CPI results, #DXY continues its pump and #SPX keeps free-falling.

Market analyst Kevin Svenson also said that the Fed's inability to curb inflation is likely to translate to choppy price action for the next year.

Should the price of BTC continue to trend lower, crypto trader and pseudonymous Twitter user Altcoin Sherpa says trading below $28,000 is possible.

Altcoin Sherpa said,

Related: Bitcoin price falls under $29.5K after 'unexpected' 40-year high US inflation

Insight into what it would take to avoid a pullback to the support at $28,000 was provided by market analyst and pseudonymous Twitter user CrediBULL Crypto, who posted the following chart showing the unfortunate retrace from $30,000, the area. The analyst suggested that this was the moment where we needed to see follow through.

CrediBULL Crypto said,

The overall cryptocurrency market cap now stands at $1.192 trillion and Bitcoins dominance rate is 46.6%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoin, altcoins sell-off on record-high inflation, but traders still expect BTC to consolidate - Cointelegraph

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Bitcoin at the WEF: What did the world’s elite think of crypto? – Cointelegraph

Posted: at 1:47 am

Cointelegraph introduces Crypto Street, a series of spontaneous conversations with strangers on the street to educate, entertain and take a temperature check on the worlds relationship with crypto.

The first episode comes from the gates of the World Economic Forum (WEF) in Davos, Switzerland. Cointelegraph reporter Joseph Hall attempted to speak with the worlds elite where he was rejected, ridiculed, and ignored before stumbling across crypto believers among the WEF attendees.

Sporting aCointelegraph sweatshirt with the loudest Bitcoin(BTC) logo, Hall asked passersby to guess what was print represented. Some WEF-goers refused to talk on camera while others claimed ignorance.

Thats not Bentley, its Bugatti! One passerby at the World Economic Forum joked. That, or they genuinely believed that the Bitcoin logo is a luxury car brand.

The shoot then moves to the blockchain streets of Davos, wherecryptocurrency companies outweigh the tradfi presence. Irina Heaver, a crypto lawyer and Bitcoin believer told Cointelegraph that Bitcoin is freedom. She explained that for her family:

When the Soviet Union Collapsed, they were left absolute penniless so did millions of other people [...] If they could have some of that (Bitcoin) can you imagine how their families would be better off?

Heaver also explained that more and more Russians transact with Bitcoin and crypto, reflecting thegrowing popularity of cryptocurrencyin the country. WEF attendees from India, wherecrypto education is weak at best, explained that the younger generation is a lot more curious about Bitcoin and cryptocurrency.

Some rethinking and action need to happen to make it [crypto] more sustainable.

The International Monetary Fund is close friends with the WEF, and itconsistentlypushes for central bank digital currenciesas well as moving cryptocurrencies away from proof-of-work blockchains to less energy-intensive proof-of-stake blockchains.

Related:CBDCs are the natural evolution, says HyperLedger director Barbosa

Theres also a cameo from Nas Daily, the Youtuber and Bitcoin HODLerwho lost $200,000 on Bitcoin to date. He appears on camera and exclaims, I lost so much money.

Finally, theres also a Golden Retriever who holds his tongue regarding Dogecoin (DOGE) price predictions for 2022, and an acapella rendition of Nina Simone by up-and-coming vocalist, Evan Klassen. Incidentally, Klassen is signing at the FIFA World Cup in Qatar this year; will he croon a crypto tune?

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Global Bitcoin adoption to hit 10% by 2030: Blockware report – Cointelegraph

Posted: at 1:47 am

The adoption of Bitcoin (BTC) could occur more rapidly than the adoption of past disruptive technologies such as automobiles and electric power, with global take-up likely to hit 10% by 2030 according to a new report.

In its Wednesdayreport, Blockware Intelligence said it arrived at this forecast by examining historical adoption curves for nine past disruptive technologies including automobiles, electric power, smartphones, the internet and social media, along with the growth rate of Bitcoin adoption since 2009:

Using the average and weighted average of historical technology adoption curves, as well as the growth rate of Bitcoin adoption, the report was then able to arrive at its prediction.

It said that based on a metric called Cumulative Sum of Net Entities Growth and Bitcoins predicted CAGR of 60% we forecast that global Bitcoin adoption will break past 10% in the year 2030.

Blockware Intelligence is the research arm of Blockware Solutions, a Bitcoin mining and blockchain infrastructure company, so you might expect it to be bullish on adoption.

The intelligence unit said it expects Bitcoin adoption to reach saturation quicker than many other disruptive technologies, given direct monetary incentives to adopt, the current macro-environment and because adoption growth will be accelerated by the internet.

From a consumer perspective, past technologies had convenience/efficiency-related incentives to adopt them: adopting automobiles allowed you to zoom past the horse and buggy, adopting the cell phone allowed you to make calls without being tied to a landline, the report explains:

Bitcoin, like the internet, smartphones, and social media, also derives benefits the more people that adopt the technology, which is known as the network effect.

Case in point if you were the only user on Twitter would it be of any value? It would not. More users make these technologies more valuable.

Related: 75% of retailers eyeing crypto payments within 24 months: Deloitte

However, the authors of the Blockware report stressed that the model used to predict the rate of adoption was only conceptual at this stage, adding it is neither meant to be used as investment advice nor a short-term trading tool, and it would continue to be refined:

The report and model were reviewed by several crypto investors and analysts, including executives from Ark Invest, Arcane Assets, AMDAX Asset Management and M31 Capital.

Cryptocurrency adoption has been growing rapidly over the last few years. In 2021, global crypto ownership rates reached an average of 3.9%, with over 300 million crypto users worldwide, according to data from TripleA, a global cryptocurrency payment gateway.

Blockchain data platform Chainalysis last year revealed that global adoption of Bitcoin and cryptocurrency surged 881% from July 2020 to June 2021. It found Vietnam to have the highest cryptocurrency adoption, leading 154 countries analyzed, followed by India and Pakistan.

In April, a survey conducted by cryptocurrency exchange Gemini found that crypto adoption skyrocketed in 2021 in countries like India, Brazil and Hong Kong, as more than half of respondents from its 20 countries polled stated that they started investing in crypto in 2021.

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Global Bitcoin adoption to hit 10% by 2030: Blockware report - Cointelegraph

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Bitcoins Role In The Recent Digital Asset Regulation – Bitcoin Magazine

Posted: at 1:47 am

With DeFi scams, exploits and collapses becoming more and more common within the digital asset space, the need for comprehensive regulation that protects consumers has never been more important. While the space has often fought against oversight from any sort of centralized body, the popularity of modern-day digital assets and the plethora of applications that have been built using blockchain technology have necessitated the need for some level of regulatory guidance, especially to safeguard citizens from predatory financial schemes that only serve to fill the pockets of the creators and their stakeholders.

Note: The cypherpunk group that originally came up with many of the ideas surrounding digital assets valued cryptography as a tool to protect oneself against authoritarian governments.

The purpose of this article is to provide an overview of Bitcoins role in digital asset regulation, and why its differences from a majority of other cryptocurrencies should encourage regulators to view it in a different light.

This past week, Wyoming Senator Cynthia Lummis, in a bipartisan collaborative effort with New York Senator Kirsten Gillibrand, released a proposal for regulation surrounding cryptocurrencies and other digital assets. This mostly pertains to security and taxation laws in the United States, but if passed, could serve as a standard for other jurisdictions. This proposal is certainly good news for cryptocurrency developers and users; it serves to ensure that the United States can become a leader in digital asset innovation while protecting its own citizens against fraudulent schemes. While the entirety of the proposal is beyond the scope of this article, the major takeaways follow, as reported in this article in Fortune:

While this bill does codify and introduce some authority and oversight to the space, it does so while ensuring that development in the space is not hindered, a concern that was previously posed by Jack Dorsey, among others. Senator Lummis in particular has long been a staunch supporter of Bitcoin, and unlike her contemporaries, is focusing on innovation rather than just the potential downside of its energy consumption.

Bitcoins design, however, gives it some unique advantages that should serve to make it a unique asset in terms of both user protection and broader regulation. For starters, a lot of disclosure and transparency concerns surrounding other base-layer platforms do not apply to Bitcoin (they may apply to companies building sub assets or other products on top of the Bitcoin blockchain) because of the lack of a centralized organization that oversees Bitcoins operations. You will often hear the adage that bitcoin is the purest form of digital money because it does not offer, or even try to offer, anything different. You are not entitled to any special rights by holding bitcoin: You do not have a voting right in any entity, you are not entitled to receive rewards in the form of yield and you cannot gain control of the underlying protocol by simply buying more of it due to the underlying proof-of-work consensus mechanism. This is not meant to deride alternative platforms that may offer these features. After all, a lot of alternative platforms have played an active role in helping to decentralize the internet, and have also allowed stablecoins (along with bitcoin) to be an alternative financial instrument for those of us who are less fortunate. Rather, it is meant to underscore the fact that bitcoin is the best form of digital money specifically because of its simplicity.

In a previous article, I argued that it is Bitcoin, rather than the broader cryptocurrency market, that is helping to fight authorianism and acting as a tool for financial freedom. A variation of the same argument applies to differentiating Bitcoin when it comes to thinking of regulation specifications for digital assets. No centralized party within Bitcoins vast ecosystem can exert a significant influence over its protocol, nor can any one party cause new bitcoin to be created to meet some need that serves its own interests.

The core ethos that separates Bitcoin from other protocols is its decentralization. While many in the space argue that Bitcoin is actually quite centralized due to its supply distribution and the presence of mining pools, the reality is that measuring the decentralization of any protocol be it a peer-to-peer digital asset network, a government or your local recreational sports league goes beyond just analyzing quantitative data such as the concentration of hash power or the concentration of wealth. Rather, perhaps the most important part of measuring decentralization is the decision-making power any centralized party has to make long-standing decisions for the protocol. A majority of, if not all, alternative platforms have some form of foundation or organization that makes significant protocol or tokenomic (the economics of the underlying asset) decisions. In many cases, there may be some form of governance or voting mechanism that enables holders to vote on certain proposals. While this is certainly more decentralized than your traditional Web 2.0 protocol, let's present Bitcoins decision-making protocol.

In Bitcoin, anyone can make a proposal for a protocol change through a Bitcoin improvement proposal (BIP). For the protocol-change to be codified, it must be approved by miners, whose current ownership has no weight. Most significantly, there is no centralized authority that may influence the decision of miners. Bitcoin is much more akin to a software rather than a company, unlike alternative platforms. (The anonymous creator/founder has completely removed themself from the public eye, and has not made any transactions with their own bitcoin for almost a decade.)

It is specifically this decentralization that allows Bitcoin to be a tool for human rights activists and those living in authoritarian countries. It is this decentralization that allows bitcoin to be a version of sound money and be an active hedge against inflation. It is this decentralization that regulators and lawmakers must take into account when designing regulation for cryptocurrency-based assets. Senator Lummis and Senator Gillibrands proposal takes a massive step in the right direction by specifically differentiating between protocols/assets that have characteristics of a traditional company and those that are independent, autonomous and helping to create legitimate change within our society.

This is a guest post by Archie Chaudhury. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

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Peter Thiel bitcoin ally Erik Finman tries to sway 2022 midterms with up to $20 million for GOP campaigns – CNBC

Posted: at 1:46 am

Erik Finman, who became a bitcoin millionaire by the time he was 18, is spending up to $20 million on Republican candidates running for Congress in the 2022 midterm elections.

Finman, 23, said he wants to donate $10 million toward GOP candidates and political action committees, including Saving Arizona, a super PAC backing Trump-endorsed Arizona Republican Senate candidate Blake Masters. The committee has received at least $10 million from tech executive and Republican megadonor Peter Thiel, Federal Election Commission records show.

Finman said he's sinking another $10 million into his new Washington D.C.-based nonprofit America's Future. The 501(c)(4) will finance what he called a "midterms tour" a series of rallies across the country for conservative candidates. Finman's new organization will also promote his conservative ideals as well as a proposed regulatory framework for cryptocurrencies, he said in an interview.

Finman's foray into politics comes as the crypto industry evolves into a powerful lobbying force on Capitol Hill. More than $30 million so far has been poured into the campaigns from crypto leaders since the 2020 election cycle.

Sam Bankman-Fried, CEO of crypto exchange FTX, has been the primary financier behind the political action committee Protect Our Future, which has only backed Democrats running for office in the 2022 election cycle so far. Bankman-Fried gave another $10 million to the PAC in April, according to FEC records.

Finman could give a similar boost to Republicans this cycle. He's donated tens of thousands of dollars in the past, but not millions. Election records show he gave more than $40,000 to candidates since the start of the 2020 election cycle.

Like Bankman-Fried, Finman says he's met with lawmakers about crypto regulations and other policy matters, though he would not say who he's met.

Finman's become more active in politics because he questions whether lawmakers really understand the laws they're writing and industries they oversee, he said.

"I don't think a lot of these people are wise elders," Finman said, adding that some lawmakers are thoughtful and well informed, "and those are golden people. But I don't know if that's the majority of people in D.C."

Finman's nonprofit, America's Future, is expected to launch in July and already has plans to host a rally for George Santos, a Republican running for Democratic Rep. Tom Suozzi's open House seat in New York. Suozzi is giving up his position to try to unseat New York Gov. Kathy Hochul in the primary. Finman has separately given $5,800 to Santos' campaign this cycle, the maximum allowed in direct contributions to a candidate under campaign finance rules. Larry Sabato's Crystal Ball, an election tracker, marks the race for Suozzi's district as a toss-up

Though Finman gave $2,800 to President Joe Biden's campaign during the 2020 election, he's become increasingly more conservative. He met with former President Donald Trump in February at Mar-a-Lago, his private club in Florida, and said he plans to support the twice-impeached president if he runs again in 2024.

Finman also spoke at the Conservative Political Action Conference in Orlando, Florida, earlier this year. The conference is organized by longtime Trump ally Matt Schlapp.

A high school dropout, Finman said he attended a summit Thiel hosts for a fellowship program he runs that gives $100,000 over two years to participants who drop out of school to pursue business opportunities. Masters and Thiel worked together at Thiel's firm, Thiel Capital.

He said he met Masters while participating in the program and then spoke with him again at a 2020 election night party hosted by Thiel at his home in Los Angeles. Finman says he encouraged Masters to run for Arizona's Senate seat and he has since given $5,800 to his campaign.

Finman is surrounded by key Republican political advisors, including Garrett Ventry, who was chief of staff to Rep. Ken Buck, R-Colo., and a senior communications advisor to Sen. Chuck Grassley, R-Iowa. when the veteran lawmaker chaired the powerful Senate Judiciary Committee.

Finman also said he's in regular contact with David McIntosh, president of the conservative group Club for Growth.

Correction: Finman took part in a summit Thiel hosts for tech entrepreneurs in his fellowship program, he wasn't a fellow himself.

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Peter Thiel bitcoin ally Erik Finman tries to sway 2022 midterms with up to $20 million for GOP campaigns - CNBC

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