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Bitcoin

Top 3 Ways Musk’s Starlink Can Boost Bitcoin (BTC)

by Miki 07/03/2021
by Miki 07/03/2021 0 comment

Elon Musk founded Starlink Technology, a satellite internet service, is seeing a boom in adoption around the globe and Musk expects the number of users to grow up to half a million within a year. The serial entrepreneur also said he would invest upto $30 billion in the company to boost its progress.

ICYMI: Elon Musk said his satellite internet service Starlink was growing quickly and he expected the number of customers to reach half a million over the next 12 months https://t.co/l3sAOd8m0w pic.twitter.com/J25API5bsC

— Reuters (@Reuters) July 3, 2021

Many see Starlink as the future of censorship-resistant internet. The satellite internet service work quite similar to Dish Antena-based TV connections where the user has a small home base antenna to catch the signal from a satellite hovering around the earth. The firm has also launched an array of satellites into space recently to boost its star link project to make the internet accessible in most remote locations.

Starlink also has been a part of the discussion in the crypto community especially Bitcoin and how it could boost the prospects of the top digital currency in near future. Some of the top use cases of Starlink discussed by the crypto community includes,

Low Latency Mining

The Bitcoin subreddit had a full-fledged discussion on possible use cases of Starlink for the Bitcoin community and where one user pointed that miners would love the low latency connectivity. While it is important to note that mining is primarily dependent on the hardware and the internet is just a way of connecting to the Bitcoin node.

Censorship Resistant Bitcoin Operation

A direct satellite internet connection means no ISP shut down. A Starlink connection could secure a censorship-free operation and accessibility in remote areas where there is no availability of any internet connection.

Blockstream Integration

Blockstream offers a similar satellite product for accessing Bitcoin blockchain without the need for a direct internet connection. Many Bitcoiners beleive a blockstream integration could be one of the best possible use cases for Starlink.

 



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The New Jersey Crypto News
  • Home
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    • Bitcoin
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    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

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      11/12/2021

      Learn

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  • Analysis
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      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
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      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

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      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

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