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There’s been a lot of talk and posturing over inflation. June results show the UK experienced a 2.5% increase in the i-word. Housing has also increased by 0.9% in May, bringing it to a nice round 10% up-only on the year from May 2020. This 2.5% is higher than expected — but not by enough for the context of inflation being transitionary to be changed in a meaningful way — and the Bank of England still expects inflation to reach 3% as we spend our way out of lockdown before calming down. Yet outgoing BoE Chief economist, Andy Haldane, predicts…

Price-wise. Absolutely nothing is happening. It seems like nobody has a clue as to what is going on in the market with it swinging from positive to negative outlook every few hours. The only thing anyone is certain of is there’s a lot of uncertainty. There’s very little volume across bitcoin derivatives and it’s not really clear whether it is retail or funds. Seems like those that have positions are sticking to them, but the onus is very much on the bulls to prove the outlook rather than the bears who are in the driving seat having watched the market’s…

Bitcoin is undergoing a quiet revolution in terms of its usability and capability. Seeing as the price action indicates that nobody knows which way bitcoin will go right now it seems a good time to dive into recent progress being made. Let’s just hope El Salvador doesn’t come asking for a refund in the meantime.

Lightning Network

While there’s a sea of red, the number of bitcoin lightning nodes, channels, and capacity have been on a steady increase and show no signs of slowing. Unlike the markets, the uptick has been slow and steady rather than quick and volatile. …

This week is El Salvador poised to be the first domino to fall in nations adopting bitcoin or will it be a dead canary we pull up from the (volcano) mine? Cyber-hornet queen, Michael Saylor of MicroStrategy, gets us all abuzz and China’s stance on crypto actually becomes a factor for the first time.

El Salvador adopts bitcoin as legal tender

The biggest headline of the week is the Latin American nation, El Salvador has made bitcoin a form of legal tender by a vote of 64 to 82 in the Salvadoran Congress on Wednesday (09/06/2021) morning and has promised…

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