Welcome to This Week in Crypto, your source for the latest happenings in the world of cryptocurrencies and blockchain technology. In this edition, we’ll dive into the convergence of traditional coffee culture and cutting-edge technology as Starbucks explores NFT collectibles. We’ll also journey to El Salvador, where Bitcoin continues to reshape the nation’s energy infrastructure with the launch of Lava Pool, a Bitcoin mining pool powered by renewable geothermal energy. Plus, we’ll unravel the mystery surrounding Satoshi Nakamoto’s recent reappearance on social media and the community’s call for change. Stay tuned for these exciting developments and more in the world of crypto.
Starbucks Brews Up Pumpkin Spice Latte NFTs to Celebrate 20th Anniversary
In honor of Starbucks’ Pumpkin Spice Latte’s 20th anniversary, the coffee giant is diving back into NFTs by launching a series of Pumpkin Spice Latte-themed digital stamps on their Web3 rewards platform, Starbucks Odyssey. These NFTs, representing different aspects of the beloved beverage, including Spiced, Whipped, Iced, and Steamed, will be available for $20 each during the sale period from October 5th to October 9th. Starbucks Odyssey members will enjoy 250 points per NFT purchase, with additional undisclosed perks for those collecting all four. The NFTs will be minted on the Polygon network, an Ethereum scaling solution.
Starbucks Odyssey, designed to reward loyal customers beyond the traditional Rewards program, offers points that can be redeemed for unique experiences, including virtual drink-making classes and trips to Starbucks coffee farms. Notably, only Odyssey members can partake in this NFT sale. The official artwork for the Pumpkin Spice Latte NFTs will be unveiled on October 10th once the sale ends.
Starbucks has previously dabbled in NFTs, giving away free NFT stamps in December, some of which fetched substantial prices on secondary markets. They later introduced premium NFT stamps in March, priced at $100 each, which promptly sold out, indicating a strong interest among Starbucks enthusiasts for digital collectibles.
El Salvador debuts Bitcoin Mining Pool Powered By Geothermal Energy
Volcano Energy and Luxor Technology Corporation have launched El Salvador’s first Bitcoin mining pool, named Lava Pool, powered by abundant renewable geothermal energy. Lava Pool will serve as the exclusive mining platform for Volcano Energy, a public-private partnership committed to allocating 23% of its net income to the Salvadoran government. Gerson Martinez, the Chief Strategy Officer at Volcano Energy, hailed Lava Pool as a testament to El Salvador’s pioneering role in the Bitcoin ecosystem, with a vision of creating an integrated energy and Bitcoin mining company that benefits both investors and citizens.
Luxor Technology will assist Volcano Energy with hedging strategies, minimizing Lava Pool’s exposure to market volatility. This partnership aligns with El Salvador’s broader strategy of incorporating Bitcoin into its energy infrastructure, utilizing its abundant renewable energy resources to economically bolster new energy projects, enhance grid stability, and reinvest Bitcoin mining profits into strengthening the nation’s energy systems. El Salvador’s groundbreaking approach, combining Bitcoin mining with renewable energy, continues to capture global attention, showcasing the potential for innovation in this evolving landscape.
Mysterious @satoshi X Account Sparks Debate Over Satoshi Nakamoto’s Identity
The reappearance of the X account @satoshi, seemingly linked to the Bitcoin creator Satoshi Nakamoto, has once again sparked curiosity in the crypto community. Despite its verified status, suspicions arose as some users connected the account’s revival to Craig Wright, a controversial figure who has long claimed to be Nakamoto. The @satoshi account’s recent posts about the 2008 Bitcoin white paper reignited speculation about Nakamoto’s identity, bringing forth questions surrounding the authenticity of the account and the ongoing mystery of Bitcoin’s creator.
The crypto community has rallied behind a call to remove the profile claiming to be Satoshi Nakamoto from the social media platform X. Users argued that both the Nakamoto account and the “@Bitcoin” handle violate X’s terms of service, which prohibit deceptive and misleading identities. The true identity of Bitcoin’s creator remains elusive, with various individuals, including Craig Wright, asserting themselves as Satoshi Nakamoto, while legal battles and controversies continue to surround this enigmatic figure.
