HISTORY: First U.S. County To Use Bitcoin Blockchain To Secure Election Results

Simple Proof Helps Safeguard Voting Results From Screven County, GA

Nov 17, 2024

The residents of Screven County, GA had their votes preserved on Bitcoin’s immutable ledger. | Photo credit: Element5 Digital via Unsplash

History was made on November 5, 2024 when the results U.S. elections were preserved on the Bitcoin blockchain for the first time ever.

Thanks to Stacy Scott Mincey, the Election Supervisor for Screven County, GA and Simple Proof, residents of Screven County, a rural Georgia county, had the integrity of their votes preserved via Bitcoin’s immutable ledger last week.

I covered the story for Forbes Digital Assets this week.

Yopaki Is My New Favorite Lightning Wallet

This week, I wrote about how Breez teamed up with Yopaki to bring users a fantastic nodeless non-custodial Lightning wallet.

I was so pumped about the announcement that I wrote about it for Bitcoin Magazine.

While half of the content in the article above is me bellyaching about how we can’t have nice things like this Yopaki wallet in New York because of the BitLicense, I was pleasantly surprised to learn after publishing the article that we can in fact use Yopaki in New York, because it’s non-custodial! (I still have to update the article to reflect that info.)

This is now the wallet I will use to onboard New York residents.

18 States File To Sue The SEC

18 attorneys general have begun a lawsuit against the SEC, claiming that, under Gary Gensler, the agency overstepped its authority in its enforcement actions against the cryptocurrency industry.

While I believer that most of the crypto industry is a scam, it doesn’t change the fact that the SEC still overstepped its boundaries, and that it made it very difficult for compliant companies like Kraken and Coinbase (companies that sell bitcoin) to operate.

I can’t think of a more poetic and unceremonious backdrop for Gensler’s exit, which is rumored to be happening soon.

I was getting very tired of paying taxes to have the government work against the industry in which I work.

ADVERTISEMENT

Is your bitcoin still on an exchange? Yeah? That’s silly.

Take it into your own custody with a Trezor device.

Bitcoin Businesses Breathe A Sign Of Relief

Not only was the Biden administration unfriendly to the broader crypto industry, but it also attempted to do a number of things that would have hurt the Bitcoin industry more specifically, like proposing a 30% tax on Bitcoin miners.

Now, with Trump promising to be more friendly to Bitcoin miners and other Bitcoin companies, there’s palpable sense of relief in the industry.

I wrote about this for Bitcoin Magazine this week.

Markets

Bitcoin’s price skyrocketed to $93k this week. That was nice.

Some people asked me if I thought it was going higher. While I have no idea what bitcoin’s price will do in the short term, I can say that I believe that so long as Bitcoin remains decentralized and secure, its price is going up indefinitely — just like gold’s price has been going up for the last 5,000 years.

Also, I’d advise you to conceptualize bitcoin (the asset) like this:

There’s a fixed supply of bitcoin. There’s an infinite supply of fiat.

Because bitcoin has a fixed supply, it’s a perfect measuring stick, which means that, theoretically (so long as bitcoin continues to be adopted), everything is falling in price against it.

As I don’t think the trend of currency debasement is receding any time soon, I don’t think the 15-year uptrend in bitcoin’s price will recede any time soon either.

That said, I still subscribe to the notion that a major crash across all markets is on the way.

Below are the targets I’m paying attention to:

Dow Jones: 55,000

S&P 500: 7,000

NASDAQ: 24,000

Gold: $3,400

I believe once we get to or near these levels, we’ll see the biggest market crash we’ve seen since 1929.

Again, please note that this isn’t financial advice and that it’s simply my thesis. If you disagree with it, fantastic! I’m glad to hear you’re thinking for yourself.

Respectfully, I’m not interested in your thoughts on my thesis, and please make sure not to follow it as financial advice, because it’s not, nor is anything I write in this newsletter.

Okay, like Freddie Mercury, I want to ride my bicycle now, so I’m going to go do that.

As always, thanks for reading and take it ease.

Best,

Frank

Nostr: npub1dnzzyhmewrzkh862z7z2shwmhh5htx0rvkagepj2fkgst9ptwg3qj4x52h