Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: This space heater mines BTC

• 🔎 This seems important: BTC surged thanks to...memecoins?

• 🤝 Partner: Learn how to make AI work for you​

• 🔪 Let's dissect this: The latest Chainlink news could be BIG for web3

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Mining, decentralize, memecoins, blockchain, protocol, NFT, web3.

💅 This is cool:

This Space Heater Mines Bitcoin for You

In one sentence: We just learned about an odd little product called the Heatbit Mini, which is a heater that warms your room by mining Bitcoin.

Alright, lets start the week out with a high-fructose story focusing on a crypto product that fits into the category of:

‘Not necessarily a must-have, but very cool.’

We just learned about a product called the Heatbit Mini, which is a space heater that warms your room by pumping electricity into a mini Bitcoin mining computer (instead of through high resistance wires).

The thinking being: if you’re going to be using the electricity either way — you might as well earn some Bitcoin out of it.

The auto industry made a similar development early last century, when they began warming car interiors with the excess heat generated by the car’s engine.

Here’s what’s cool about this:

1. The proliferation of in-home mining rigs will help decentralize the Bitcoin network.

2. While they don’t spit out huge sums of Bitcoin — up until the halving, these heaters were earning enough BTC to cover all of the electricity costs they generated (now they only cover half, but still cool!).

3. If you don’t spend the Bitcoin you earn, and opt to hold long term — there’s a good chance these earnings will compound over time.

Downside is, it’s expensive ($799)!

But if we were in the market for a top-of-the-line Dyson Heater (which retails for $849), we’d probably opt to save a few bucks and go for the Heatbit Mini.

(If nothing else, it’d be a conversation starter).

🥇 Want the news before anyone else?

🔎 This seems important:

Bitcoin Hit $67,645 Over the Weekend, and it was all Thanks to…Meme Coins?

In one sentence: Memes are just representations of trends in internet culture, and with meme coins, all that’s changed is how they’re measured (market value instead of likes/shares).

Do you know which two items contributed most to modern day e-commerce?

1. Beanie Babies (the trade of which made up most of eBay’s early revenue).

2. And books (see: Amazon).

Which might have seemed ridiculous and unsustainable at the time — Beanie Babies were a fad, while the internet was a death knell for the traditional publishing industry…

And you wouldn’t have been wrong in thinking that!

They were both ridiculous and unsustainable — but they didn’t need to last in order for online retail to continue long term, they just needed to get the ball rolling.

We view meme coins through a similar lens.

For example: the price of Bitcoin touched its highest point since the halving last month ($67,645), and it’s thanks (in part) to the trade of Bitcoin-based meme coins, which only became possible to launch on the network at the end of last month.

And it’s a pattern we’ve seen play out many times before, first on Ethereum, and more recently on Solana.

The takeaway:

If you think meme coins are silly, well…

You’re right. They are.

But that doesn’t mean their contribution to market prices should be discounted.

Memes are just representations of trends in internet culture — and with meme coins, the only thing that has changed is how they’re measured.

Instead of likes, shares, and comments, it’s now market value.

🤝 Partner:

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🔪 Let's dissect this:

The Latest Chainlink News Could be BIG for Web3

In one sentence: Late last week, Chainlink released the results of their pilot with the Depository Trust and Clearing Corporation (DTCC) which went really well - and it could be huge for web3.

Chainlink is one of the most interesting med-large cap crypto projects out there.

It’s an ‘oracle’ blockchain, which is a nerdy way of saying, it collects data from trusted third parties, puts it on the blockchain, and charges people to access that verified information (key word: verified).

Which is handy when you want to automate something like ‘buy X when Y happens’ or ‘sell Y when X happens’.

Less than a year ago, they launched the ‘Cross-Chain Interoperability ​Protocol​’ (​CCIP​) which simplifies the process for sending cross-chain transactions.

For example: wanna purchase an Ethereum NFT but only have SOL? You’ll need to do a cross-chain transaction.

But here’s the cool part:

Late last week they released the results of their pilot with the Depository Trust and Clearing Corporation (DTCC).

Never heard of the DTCC? They’re just the world’s largest settlement and infrastructure company, processing over $2 trillion annually :)

Turns out, it went really, really well. Here’s the full report if you want to have a gander.

This could be huge because, imagine if every hedge fund started using Chainlink’s data to make decisions, and using the CCIP to allow them to trade across blockchains.

With the right set of ‘rules,’ we could see some very successful companies.

It may not be sexy, but we love to see pilots like these between web3 companies and massive backend infrastructure companies.

After all, blockchain is a backend technology!

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Chainlink, Explained