Bitcoin

As the popularity and adoption of <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrencies</a> like Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) increase, some <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> enthusiasts see their potential utility well beyond mere digital money, an <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investment</a> asset, or a <a href="https://finbold.com/bitcoins-inflation-rate-is-now-three-times-lower-than-u-s-dollars/" rel="noopener noreferrer nofollow">hedge against inflation</a>, including one major in the United States Space Force, who envisions their role in the national cyber-security defense system.Indeed, in his Massachusetts Institute of Technology (MIT) master’s thesis, which has assumed a high spot on Amazon’s (NASDAQ: <a href="https://finbold.com/stock/amazon-amzn/" rel="noopener noreferrer nofollow">AMZN</a>) list of best-selling <a href="https://finbold.com/category/technology-news/" rel="noopener noreferrer nofollow">technology</a> books, Major Jason Lowery has proposed that the U.S. should mine and stockpile <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> as a weapon of self-defense, Politico <a href="https://www.politico.com/newsletters/digital-future-daily/2023/03/30/space-force-major-to-pentagon-mine-bitcoin-00089745" rel="noopener noreferrer nofollow">reported</a> on March 30.Specifically, “<a href="https://www.amazon.com/Softwar-Projection-National-Strategic-Significance/dp/B0BW358F37" rel="noopener noreferrer nofollow">Softwar: A Novel Theory on Power Projection and the National Strategic Significance of Bitcoin</a>” compares Bitcoin’s proof-of-work (<a href="https://finbold.com/guide/cryptocurrency-staking-guide/#ProofofStake_vs_ProofofWork" rel="noopener noreferrer nofollow">PoW</a>) system to deer antlers, arguing that it offers a better alternative for future power struggles instead of the destructive nuclear wars or killer robots – just like stags using their antlers to fight over territory without killing each other.In the case of the metaphorical PoW cyber antlers, the participants would harness energy to generate computer guesses, and the winner of every round would receive a reward in the form of network <a href="https://finbold.com/guide/types-of-cryptocurrency/" rel="noopener noreferrer nofollow">tokens</a>, along with the right to publish the following block of transactions.Using this method, the winner would gain power within a distributed computer network that is being used to assign abstract property rights – similar to a real-world game of chess – with the benefit of using the non-violent approach to obtain and protect these hypothetical territories.<h2 id="header-0">Space Force Bitcoin mining</h2>Should Major Lowery’s proposal of a <a href="https://finbold.com/guide/bitcoin-mining-guide/" rel="noopener noreferrer nofollow">Bitcoin mining</a>-based defense strategy be accepted on a higher level, it would also have a significant impact on the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">crypto industry</a>, as it would bolster its further adoption and widespread acceptance of digital assets in various industries and areas of society.However, the <a href="https://finbold.com/category/regulations-news/" rel="noopener noreferrer nofollow">regulatory</a> atmosphere has not been very friendly to crypto, as the authorities in the U.S. are seeking to impose strict supervision while spearheading <a href="https://finbold.com/ripple-v-sec-court-case-update-as-of-march-27-2023/" rel="noopener noreferrer nofollow">lawsuits</a> against crypto businesses, such as the <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a> and <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> platform <a href="https://finbold.com/review/binance-review/" rel="noopener noreferrer nofollow">Binance</a>, making it difficult to predict the success of this proposal if presented to top-tier government executives.Furthermore, environmental advocacy organizations continue to <a href="https://finbold.com/climate-activists-pressure-bitcoin-to-follow-ethereums-environmental-shift/" rel="noopener noreferrer nofollow">criticize</a> PoW digital assets over concerns related to the potential environmental impact under the “Change the Code, Not the Climate” campaign slogan, despite Bitcoin maximalists like MicroStrategy’s Michael Saylor arguing that mining is “the most efficient, cleanest industrial use of electricity.”<h2 id="header-1">Crypto sector’s progress</h2>Meanwhile, the crypto market has shown impressive resilience in the face of a <a href="https://finbold.com/guides/banking/" rel="noopener noreferrer nofollow">banking</a> crisis that has toppled several major <a href="https://finbold.com/category/banking-news/" rel="noopener noreferrer nofollow">banks</a> and continues to threaten others, as well as the continued risks in the <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">financial</a> landscape <a href="https://finbold.com/european-banking-authority-chief-warns-of-very-high-risks-in-financial-system/" rel="noopener noreferrer nofollow">remaining high</a>, according to José Manuel Campa, the current chairperson of the European Banking Authority (EBA).On top of that, it has added <a href="https://finbold.com/crypto-market-adds-nearly-1000-new-coins-in-2023-as-momentum-returns/" rel="noopener noreferrer nofollow">nearly 1,000 new cryptocurrencies</a> since the start of 2023, as the <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> momentum returned following a difficult year, and the price of Bitcoin surpassed the $28,000 psychological threshold, adding <a href="https://finbold.com/bitcoin-adds-30-billion-to-its-market-cap-in-a-day-is-btc-price-set-to-hit-30000/" rel="noopener noreferrer nofollow">$30 billion to its market capitalization</a> in a single day.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Space Force major proposes Bitcoin mining for Pentagon defense strategy

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