Bitfinity Weekly: Mines and Minds

Welcome to Issue #163 of Bitfinity Weekly for our #BITFINIANS community. If this newsletter was forwarded to you, sign up here.

What's in Today's Email?

• Bitcoin Bytes
• Global Crypto News
• In the IC
• This Week in our Blog
• Tweet of the Week
• Meme Time
• A Matter of Opinion

Bitcoin Bytes

• Difficulty Drops Hard: Bitcoin just made one of its biggest changes to how hard it is to mine new coins. The mining difficulty dropped by about 7.5%—something we haven’t seen since 2021. This happened because many miners, especially in Texas, had to pause operations due to extreme heat and power shortages. The drop makes mining slightly easier and more profitable, at least for now.
• Hashrate Slips Down: Alongside the drop in difficulty, the total computing power securing the Bitcoin network (called hashrate) also went down. It fell from around 902 to 840 exahashes per second, showing that mining has become harder for some due to rising energy costs and tough weather conditions.
• Core v30 Incoming: The developers behind Bitcoin’s main software have set key dates for the next major version, Bitcoin Core v30. New features will be locked in by August 20, with full release expected by October 3. Some technical changes are still being reviewed by major mining groups before they’re adopted across the network.
• Halving Turns One: It’s been over a year since Bitcoin’s last “halving” event in April 2024, which cut the reward for mining new blocks in half—from 6.25 to 3.125 BTC. This event is part of Bitcoin’s built-in design to control supply, and it continues to affect miners’ earnings and the overall economics of the network.

Global Crypto News

• China Warms Up: Officials in Shanghai are now exploring new ways to handle stablecoins—digital currencies tied to real-world money. Big tech companies like JD.com may soon apply to launch these coins in Hong Kong, as the region rolls out fresh crypto rules on August 1.
• Policy Meets Blockchain: U.S. lawmakers are spending the week of July 14–18 focusing on crypto laws. They’re discussing rules for digital dollar alternatives (like stablecoins), deciding which government bodies should oversee crypto, and debating how much control the government should have over future digital currencies.
• India Gets Strict: India’s tax department now wants more details from crypto exchanges about user activity. These updates mean platforms dealing with digital coins must report more information to the government, helping improve oversight and ensure taxes are being handled properly.

In the IC

• Caffeine Is Coming: DFINITY will debut Caffeine, its AI-powered no-code Web3 app builder, during a livestream event on July 15. Users can describe apps in everyday language, and Caffeine will generate fully functioning decentralized apps on-chain — no coding needed.
• Builders Stay Busy: Developer momentum continues to grow on Internet Computer, with increased GitHub activity and ongoing work across AI, DeFi, and gaming. This signals a strong builder community driving real innovation in the ICP ecosystem.
• Bug Alert Raised: A new academic study revealed that 66% of smart contracts on Internet Computer had medium or high-severity reentrancy vulnerabilities. The paper recommends secure development practices and formal verification tools like TLA+ to reduce future risk.

This Week in our Blog

Bitcoin and Social Media: How Platforms Are Adopting Crypto and Encryption

As social media evolves alongside digital currency, a new wave of platforms—often referred to as “SocialFi”—is emerging. These platforms blend “content creation, decentralization, and peer-to-peer finance”, leveraging the infrastructure and ethos of Bitcoin to empower users globally. The Art of Social Fi: Because Even Bull Markets Need More

Bitfinity BlogFred

Bitcoin & Social Media explores how major platforms are integrating cryptocurrency and encryption to empower users with secure messaging, digital tipping, and even content monetization. It highlights the shift toward privacy-first features across networks like X, platforms experimenting with crypto tipping, and blockchain-based social apps.

Tweet of the Week

Meme Time

A Matter of Opinion

This past week reminded us that Bitcoin, though decentralized and borderless, still depends on real-world infrastructure — like power grids and weather. The 7.5% drop in mining difficulty, driven by heatwaves and energy strain in Texas, reveals a fragile link between digital systems and physical realities. As climate volatility increases, miners may need to rethink location strategies and energy models. The question isn’t just technical — it’s existential: can Bitcoin adapt to a hotter, more unpredictable world without sacrificing decentralization?

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