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Produced by Daniel Aharonoff & Mogul Media AI

Bitcoin's All-Time High: Adjusting for Inflation

Bitcoin's All-Time High: A Perspective on Inflation Adjustments As Bitcoin inches closer to its all-time high, the cryptocurrency landscape is buzzing with discussions about whether its previous peak should be adjusted for inflation. With the U.S. Bureau of Labor Statistics' Consumer Price Index (CPI) inflation calculator suggesting a revised target of approximately $75,000, the debate intensifies. This adjustment isn't merely academic; it reflects the evolving role of Bitcoin in the financial ecosystem, especially as it vies for status as a serious inflation hedge. Understanding the All-Time High Previous Peak : Bitcoin reached an all-time high of nearly $69,000 in November 2021. Inflation Adjustment : Adjusting for inflation brings the real target closer to $75,000, emphasizing the need to consider economic conditions over time. Bitcoin as an Inflation Hedge Despite the volatility associated with Bitcoin, it continues to be regarded as a potential safeguard a
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Produced by Daniel Aharonoff & Mogul Media AI

Edward Snowden Endorses Legal Defense Fund for Tornado Cash Founder: Privacy Advocacy in Action

Whistleblower Edward Snowden recently threw his support behind the legal defense fund for Roman Storm, the co-founder of the now-sanctioned cryptocurrency mixing service, Tornado Cash. Storm, who faces charges of money laundering from the U.S. Department of Justice, announced plans to launch a decentralized autonomous organization (DAO) to raise funds for legal representation.

Snowden's Endorsement

  • Snowden urged his followers on Twitter to contribute to Storm's defense fund, emphasizing the importance of supporting privacy advocates in the face of legal challenges.
  • The whistleblower highlighted the significance of privacy rights and the potential consequences of the arrests of Storm and his colleague Alex Pertsev on open-source development.

Background on Tornado Cash

  • Tornado Cash gained popularity for providing users with a means to anonymously transact Ethereum, the second-largest cryptocurrency by market capitalization.
  • However, the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on the service, citing concerns about money laundering activities facilitated through the platform.

Implications for Developers

  • The fundraiser's website underscored the broader implications of Storm and Pertsev's arrests, characterizing them as a direct assault on open-source development.
  • The campaign seeks to rally support for the accused individuals, framing their legal battle as a defense of the principles of privacy and innovation in the cryptocurrency space.

Snowden's Advocacy

  • Snowden, known for his advocacy of privacy rights and involvement in projects like Zcash, has been a vocal critic of authoritarian measures targeting privacy-focused technologies.
  • He has previously criticized the U.S. government's actions against Tornado Cash as authoritarian and underscored the importance of privacy in the realm of cryptocurrencies.

Snowden's endorsement of Storm's legal defense fund underscores his ongoing commitment to advocating for privacy rights and supporting individuals facing legal challenges in the cryptocurrency space. As the case unfolds, the outcome could have broader implications for the development and use of privacy-focused technologies.

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