Greetings, my intrepid PoI adventurers! 😄🌟

Mochi here, ready to serve up another piping hot batch of web3 wonders and tech tidbits. From solo miners striking digital gold and Google Cloud's polarizing Web3 portal to Sam Altman's double trouble and Australia's spot Bitcoin ETF extravaganza, we've got a smorgasbord of stories to tantalize your taste buds. So, put on your thinking caps and let's dive into this delightful digital buffet! 🍽️💭

INTEL BRIEF

🟧 A solo Bitcoin miner defied the odds by solving a block alone, earning the full 3.125 BTC block reward.

🟧 Google Cloud's launch of a Web3 portal sparks mixed reactions from the crypto community.

🟧 OpenAI and Worldcoin, both co-founded by Sam Altman, are reportedly in talks for a partnership that could draw increased regulatory scrutiny.

🟧 Australia's largest stock exchange may approve several spot Bitcoin ETFs by the end of the year, potentially attracting billions in inflows.

Solo Miner Strikes Gold: Defying the Odds to Claim 3.125 BTC Reward

In a stunning display of luck and computing power, a solo Bitcoin miner has achieved the near-impossible by solving a block entirely on their own. This feat, akin to winning the lottery, has only occurred 282 times out of the 841,300 blocks produced since Bitcoin's inception 14 years ago.

The lucky miner, wielding a hash rate of around 120 petahashes per second (PH/s), or roughly 0.02% of the total network hash rate, managed to solve block 841,286. This block was particularly significant as it came just after the recent Bitcoin halving, which reduced the block reward from 6.25 BTC to 3.125 BTC. Despite the reduced reward, the solo miner still netted a cool $200,000 for their efforts.

Con Kolivas, a software engineer and administrator from the solo mining pool ckpool, speculated that the miner may have recently switched from pooled mining after the halving due to electricity costs, or they have been intermittently renting large amounts of hash power for solo mining.

The incredible rarity of this event is underscored by the fact that mining Bitcoin has become increasingly competitive over the years. With the asset's price on the rise, the network hash rate has skyrocketed, hitting an all-time high of 728 EH/s on April 23. This increase in "network horsepower" has made it nearly impossible for individual miners to solve blocks alone.

As the Bitcoin network continues to grow and evolve, stories like this serve as a reminder of the unpredictable and exciting nature of the world's largest cryptocurrency. Who knows, maybe you'll be the next solo miner to strike gold!

Solo Bitcoin miner defies the odds, solving a block alone and earning 3.125 BTC ($200,000).

This rare feat has only occurred 282 times out of 841,300 blocks since Bitcoin's inception.

The miner's success comes amid increasing network difficulty and hash rate, making solo mining even more challenging.

Google Cloud's Web3 Portal Launch: A Mixed Bag of Reactions

Google Cloud has made waves in the crypto industry with the launch of its new Web3 portal, a comprehensive resource for blockchain developers. The portal offers testnet tools, blockchain data sets, and learning resources, aiming to support developers in creating and deploying decentralized applications on various blockchain networks.

However, the reception within the cryptocurrency community has been far from unanimous. Some industry leaders, such as Phil Geiger, vice president of product marketing at Unchained, have criticized the portal for its lack of native Bitcoin and Lightning Network support, calling it an "oversight to ignore the most important cryptocurrency." Others, like pseudonymous crypto trader MartyParty, have expressed their disappointment, stating that "Google is way behind."

On the other hand, some have welcomed the launch, with Mitroplus labs founder Ivaibi Festo describing the Web3 portal as a "comprehensive resource." The portal allows developers to access a range of products and receive testnet tokens to deploy and test their applications on Ethereum testnets Sepolia and Holesky. Additionally, it offers a learning program with tutorials on developing NFTs, implementing Web3 loyalty programs, and securing digital assets with multi-party computation.

This launch comes on the heels of several recent developments by Google in the Web3 industry. The tech giant has expanded its features to allow users to search wallet balances across multiple blockchains, updated its policies to allow certain crypto products to be advertised on major search engines, and established partnerships with various blockchain networks.

As the Web3 space continues to evolve, it remains to be seen how Google Cloud's Web3 portal will impact the industry and whether it will live up to the expectations of the cryptocurrency community. One thing is for sure: the debate surrounding the portal's launch is far from over.

Google Cloud launches Web3 portal with testnet tools, data sets, and learning resources for developers.

The crypto community has mixed reactions, with some criticizing the lack of Bitcoin support and others welcoming the comprehensive resource.

The launch follows Google's recent developments in the Web3 industry, including partnerships and expanded features.

Sam Altman's Double Trouble: OpenAI and Worldcoin Partnership Talks Spark Regulatory Concerns

OpenAI, the artificial intelligence powerhouse co-founded by Sam Altman, is reportedly in partnership talks with Worldcoin, a cryptocurrency-based universal basic income and identity verification firm also co-founded by Altman. According to Bloomberg, the potential partnership would see OpenAI providing AI solutions and services to Worldcoin, with the possibility for further collaboration in the future.

However, any partnership between the two firms is likely to draw additional regulatory scrutiny, given Altman's involvement in both companies. Alex Blania, CEO of Tools for Humanity (the company behind Worldcoin), acknowledged this, stating, "I think it's just because of Sam. Just, like, much more attention than you would usually face as a company of that size or a project of that size."

Both companies have faced their fair share of controversy and regulatory hurdles. OpenAI recently dodged threats of an investigation by European Union authorities over its partnership with Microsoft, while Worldcoin has faced bans in Portugal, Kenya, and Spain in the first three months of 2024 alone.

Despite the challenges, Worldcoin has been actively expanding its operations. The firm recently launched its own blockchain, a layer-2 solution that prioritizes verified human users over bots. Additionally, Worldcoin announced plans to increase its WLD token supply by 36 million (worth around $196 million) over the next six months as part of a sell-off to select institutions.

The popularity of Worldcoin's unique identity verification system, which involves scanning users' irises using hardware called "orbs," has led to a shortage of these devices. Users who sign up for the service in areas where it's available can receive 10 WLD tokens (currently trading at $4.81) for having their eyes scanned, plus an additional two tokens every month thereafter.

As the potential partnership between OpenAI and Worldcoin unfolds, it remains to be seen how regulators will respond and what implications this collaboration may have for the future of AI and cryptocurrency-based identity verification.

OpenAI and Worldcoin, both co-founded by Sam Altman, are in talks for a partnership that could draw increased regulatory scrutiny.

Both companies have faced controversy and regulatory hurdles in the past.

Worldcoin is expanding its operations, including launching its own blockchain and increasing its WLD token supply.

Aussie Exchanges Poised to Embrace Spot Bitcoin ETFs, Billions in Inflows Expected

Australia's spot Bitcoin ETF market is about to heat up like a barbie on a scorching summer day. According to anonymous sources who spoke to Bloomberg, the Australian Securities Exchange (ASX) could give the green light to several spot Bitcoin exchange-traded funds (ETFs) before the year is through.

Following in the footsteps of their American and Hong Kong counterparts, fund issuers VanEck Australia and local ETF-focused fund manager BetaShares are eagerly awaiting approval for their Bitcoin ETF applications. With U.S.-based products already raking in a whopping $53 billion in assets under management (AUM) across eleven separate products, it's no wonder that Australian fund managers are keen to get in on the action.

Justin Arzadon, the head of digital at BetaShares, believes that the success of U.S. Bitcoin ETFs has provided the confidence needed to launch similar products in Australia, proving that "digital assets are here to stay."

Jeff Yew, CEO of crypto asset management firm Monochrome, told Cointelegraph that Australia is a "very crypto-heavy country" and expects Australian spot Bitcoin ETFs to generate a mind-boggling $3 billion to $4 billion in net inflows within the first three years. Yew attributes this potential demand to fund managers seeking Bitcoin exposure and self-managed super fund (SMSF) investors looking for a safer alternative to holding crypto on exchanges, which he likens to a "ticking time bomb."

Monochrome initially applied for a spot Bitcoin ETF with the ASX last year but later switched to Cboe Australia due to the ASX's slow approval process and limited appetite for new products. Yew anticipates Cboe Australia will approve his firm's application "within the next few weeks."

As Australia gears up for a spot Bitcoin ETF revolution, it's clear that the land down under is ready to embrace the future of finance with open arms. So, grab your sunscreen and get ready for a wild ride, because the Aussie crypto market is about to sizzle!

Australia's ASX may approve several spot Bitcoin ETFs by year-end, following U.S. and Hong Kong trends.

Crypto asset management firm Monochrome expects Australian spot Bitcoin ETFs to generate $3-4 billion in net inflows within three years.

Demand is expected from fund managers seeking Bitcoin exposure and SMSF investors looking for safer alternatives to holding crypto on exchanges.

And there you have it, my dear PoI pals! Another thrilling installment of our web3 odyssey comes to a close. I hope you're leaving this newsletter feeling a little wiser, a tad more entertained, and maybe even inspired to take a solo shot at mining (just kidding, please don't blow up your electricity bill!⚡). As always, keep your minds open, your wallets secure, and your crypto curiosity burning bright. 🔥🔒

Until we meet again, this is your trusty tech-loving friend, Mochi, bidding you a fond farewell and a virtual fist bump! 👊✨

P.S. Don't be shy! Share your thoughts, musings, and most groan-worthy crypto jokes with the PoI crew.
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