Bitcoin Security & ECB Cuts Rates September 12, 2024 | [Read Online]( â° BTC Moves Towards Halving Bitcoin Security & ECB Cuts Rates [fb]( [fb]( [fb]( [fb](mailto:?subject=Post%20from%20Bitcoin%20Minimalist&body=%E2%8F%B0%20BTC%20Moves%20Towards%20Halving%3A%20Bitcoin%20Security%20%26%20ECB%20Cuts%20Rates%0A%0Ahttps%3A%2F%2Fbitcoinminimalist.com%2Fp%2Fbtc-moves-towards-halving) First time reading? Iâm [Jordan](, and this is [The Bitcoin Minimalist](. Every Tuesday & Thursday, we scour 100s of sources to bring you need-to-know Bitcoin insights. Today weâre covering: - ECB cuts rates and all eyes move to Fed, - Bitcoin security advice from Jameson Lopp, - Bitcoin decouples from gold, - And everything else you need to know. âJordan Check out the latest adds to [Bitboâs Bitcoin store](! [Bitcoin Flag]( [Classy Bitcoin Tie]( WHAT WEâRE WATCHING ð¶Â [The European Central Bank cut its deposit rate from 3.75% to 3.5% as inflation dropped to 2.2% in August.]( The move aims to support growth, but further rate cuts may be limited. ECB President Christine Lagarde emphasized a cautious, data-driven approach to future decisions. All eyes are now on the [U.S. Federal Reserveâs September meeting](. ðª[Despite Bitcoinâs association with ransomware, fiat is still the preferred currency for 99.67% of cybercrime, according to the U.S. Treasuryâs 2024 report.]( Ransomware, which favors Bitcoin, accounts for just 0.33% of cybercrime, contributing an estimated $20 billion in damages. Most losses stem from data breaches and financial fraud. ð¡ï¸[Duress wallets, designed to trick attackers by offering a small portion of your Bitcoin, are unreliable and could backfire, according to Jameson Lopp.]( Criminals may become suspicious or more violent if they suspect deception. The best defense is strong privacy and operational security to avoid becoming a target. ð [Bitwise CIO Matt Hougan predicts a strong Bitcoin rally by Q4 2024 as macroeconomic uncertainty subsides.]( He bases this on things like U.S. election concerns and Federal Reserve actions. While [September has historically seen a 4.5% decline in Bitcoin prices](, Hougan expects a rebound during âUptober.â âï¸[Bitcoin mining difficulty hit a record 92.7 trillion, rising by 3.6%.](This follows a surge in the network's [hash rate to 694 EH/s](. Despite reduced block rewards from the April halving, larger miners have upgraded equipment, pushing less efficient operators out of the market. ð[Bitcoin has decoupled from gold, which hit record highs above $2,500, while Bitcoin remains over 20% below its all-time high.](Bitcoin has been in a bearish phase since August 27, with the [MVRV ratio]( suggesting further price corrections amid broader investor risk aversion. ð [NBA legend Scottie Pippen excited his 670,000 X followers with a bullish tweet on Bitcoin, saying âBullish on Bitcoinâ with the hashtag #BeLikeSatoshi.]( Fans, including Kraken, responded eagerly. Pippen also humorously questioned Michael Saylorâs $13 million Bitcoin prediction, referencing Satoshi Nakamoto in a dream. IN THE LOOP A Manhattan spa [heats]( its pools using excess energy from Bitcoin mining, sparking both praise and criticism. The UK [introduced]( a bill to clarify the legal status of digital assets like Bitcoin. Bitcoin mining CEOs [predict]( Bitcoin could reach $250,000 by the 2028 halving. Indodax, the leading Indonesian crypto exchange, temporarily [shut down]( after a $22 million hack. The North Carolina Senate [overrode]( the governorâs veto to pass a bill banning CBDCs. Standard Chartered [launched]( a digital asset custody service in the UAE, with Brevan Howard Digital as its first client. POLL Do you think duress wallets are a reliable way to protect your Bitcoin in a high-risk situation? [Yes](
[No](
[Maybe](
[Never heard of it]( TUESDAYâS POLL RESULTS Do you believe Bitcoin's role in national security, as suggested by Fred Thiel, is growing? ð Yes - 47.7% ð No - 33.3% Unsure - 19.0 ð Yes - âIf deployed correctly, BTC will potentially represent the new auditable Fort Knoxâ - Chris VIDEO Matthew Kratter [explores the real threats to Bitcoin wallet security](. He claims that more people lose their bitcoin due to ignorance or small mistakes, rather than large hacks. CHARTS & DATA Bitcoin Halving - [Bitcoin is now 10% through this halving cycle](. The chart above shows how the price behaved around similar time periods. Bitcoin Halving - It feels as if the halving just happened yesterday. But weâre already 10% through this cycle, [and the next halving is estimated for March or April 2028](. New Bitbo Charts
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