The primary episode of the “Bit Speak” podcast discusses current developments on this planet of Bitcoin. Hosted by Akiba and James from CryptoSlate in addition to Bitcoin pioneer Nick from Mercury Pockets, the podcast is a bite-sized, easy-to-consume bi-weekly overview of the Bitcoin community.
This episode begins with the adoption of Bitcoin in Africa, with an increasing number of folks utilizing the lightning community. The lightning community is a second-layer fee protocol that operates on prime of the Bitcoin blockchain, permitting for quicker and cheaper transactions.
The hosts additionally talk about the state of Bitcoin mining, mentioning that some miners are struggling because of the bear market and the growing problem of mining. The bear market refers back to the decline within the value of Bitcoin over the previous few years, which has made it harder for miners to show a revenue.
The podcast additionally features a section referred to as “Bitcoin Climate” with James from CryptoSlate. On this section, James offers a quick overview of the present state of the Bitcoin market, together with current value actions and key developments. This section offers listeners with a fast and concise abstract of a very powerful on-chain occasions within the Bitcoin world.
The hosts additionally point out that there have been improvements in mining know-how, comparable to using different power sources and residential mining. Prior to now, most Bitcoin mining was executed by giant industrial farms, however now there’s a push for extra decentralized and sustainable strategies of mining. For instance, some corporations need to use stranded power sources, comparable to biomass, to energy their mining operations. This not solely reduces the carbon footprint of mining but additionally makes it extra accessible to people who might not have entry to low-cost electrical energy.
The hosts conclude by discussing the way forward for Bitcoin and the potential for it to develop into extra mainstream. They point out that Bitcoin nonetheless faces challenges by way of regulation and public notion, however they’re hopeful that these points can be resolved over time. In addition they point out that the continued growth of the lightning community and different applied sciences will play a key position in making Bitcoin extra accessible and user-friendly.