When the $BMN launched, it offered investors a bold new way to engage with Bitcoin mining. Three years later, it's proven its value, delivering a weighted average gross cash/cash return of ~61%.
This week, the BMN1 will begin paying out 1,220+ $BTC on
@Liquid Network . More 🧵⬇️
Some background: Instead of traditional investing methods in physical mining infrastructure, the $BMN offered a more liquid, flexible approach through a hashrate-backed security token that provided investors with hashrate generated at Blockstream Mining facilities.
By removing the barriers of entry to enterprise-grade mining with a security token, investors could participate more easily in Bitcoin's proof of work, contributing to its security and censorship resistance.
As a security token, the $BMN comes with investor protections and allows flexible adjustment of exposure with P2P trading and secondary markets like Side Swap, Merj Exchange, and Bitfinex Securities, among qualified BMN holders.
The bitcoin mined by the $BMN has been held in cold storage and will be delivered to the final token holders beginning later this week. This provides returns without needing to manage hardware or deal with the intricacies of mining operations.
The payout from BMN1 will also have a broader impact on the Bitcoin L2 ecosystem. It will push the Liquid Bitcoin $LBTC in circulation (~5108) on par with the total BTC in Lightning, highlighting its growing significance and utility.
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Explore the full Bitcoin ecosystem with The Mempool Open Source Project®. See Liquid transactions & assets, get network info, and more.
BMN1's success has also paved the way for other tokenized Bitcoin mining investments, such as the Blockstream BASIC Note $BSIC, which allows investors to capitalize on undervalued mining assets.
You can read further updates on the upcoming BMN1 payout via the official Stokr site, and be sure to set a reminder to join us and members of the Liquid Federation for an ecosystem-wide discussion on $BMN and its impact later this week. ⛏️ 🌊
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Join us this Thursday for a Federation-wide discussion on the maturation of the Blockstream Mining Note, its impact on the Liquid ecosystem, and wh...
Catch up with @Samson Mow, CEO of @JAN3, on Bitcoin Capital as he shares insights into Bitcoin's transformative power for nations and capital markets in conversation with @Lyn Alden and Jesse Knutson.
Register for the live stream happening Monday July 22nd, 8:00 PM ET ⬇️
When a two-factor authentication (2FA) protected account is created, multiple keys are now required to send a transaction.
The first key is on the device, protected by a PIN code and should be backed up on metal as a 12 or 24-word recovery phrase and kept in a secure location. The second key is held on the Blockstream Green servers protected by 2FA. This is the standard 2-of-2 multisig setup.
Green 2FA protected accounts also allow for 2-of-3 multisig setups where another key is kept on a Blockstream Jade in a secure location for use in recovery.
When setting up a 2FA protected account on Green, it is wise to set up multiple methods on separate devices. This ensures that as long as access to one is retained, the bitcoin will be spendable, and lost 2FA methods can be disabled or changed.
To keep users in control, if all 2FA methods fail, the 2FA protection will expire in 51,840 blocks (~1 year) since the protected coins last moved.
This update adds real-time alerts for upcoming 2FA expirations and introduces a smoother coin control flow for better privacy when refreshing 2FA protection.
System alerts have also been improved, offering clearer notifications during logins and updates on security matters. Additionally, the system architecture has been upgraded to Qt 6.7.2, enhancing the app's performance and stability for a superior user experience.
Green is fully open-source, and in that spirit, there is an open-source recovery tool called garecovery that can recover funds in the event that the 2FA protected account service is permanently terminated.
Find Green on the app store and start exploring 2FA for funds that you take on the road.
Mark your calendars for a next-level Bitcoin Capital livestream featuring @Samson Mow and @Lyn Alden! They'll be with Jesse Knutson to discuss:
🌐 Bitcoin-based bonds
✈️ Nation-state financial autonomy
🏦 Debt on a #Bitcoin standard
Join us on Monday, July 22nd, 8:00 PM ET ⬇️
