This Labor Day, we should not forget the importance of protecting the value of the workforce, now reinforced by Bitcoin.This is an opinion editorial by Robert Hall, a content creator and small business owner.
Organized labor gave power to the people to fight big business and secure their workplace rights. Bitcoin gives power back to the people to protect these rights once and for all.Labor Day is typically a time to relax with your friends and family, grill up some hot dogs and enjoy much-needed downtime before the holidays kick into overdrive. While this has come to represent the contemporary meaning of Labor Day, its origin stems back more than a century.The first state to recognize Labor Day as a holiday was Oregon. The first bill was passed on February 21, 1887. By the end of 1894, 23 states adopted the holiday and Congress made it a federally recognized holiday during the same year.
Organized labor has been central to creating the work environments that we have today. Workers and workers' rights were not respected during the height of the industrial revolution. Life as a worker during this era was hell. How would you like to work 12-hour days, seven days a week and barely make it by? These are the conditions many of your ancestors worked in to provide for their families. more info

Tech firm Canaan has seen a considerable rise in revenue.
The company holds 346.84 bitcoins, which is an increase of 107.74%.
The Beijing-based mining machine maker reported sales of 1.65 billion yuan (around $238 million).
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Canaan Adds 180 BTC to Reserves, Posting Better Than Expected Figures
China-based tech firm Canaan has boosted its Bitcoin holdings by 180 to a total of 346 BTC despite the market downturn.
The firm, which makes cryptocurrency mining equipment, reported sales of 1.65 billion yuan (around $238 million), a year-over-year growth of 52.8%.
At the same time, the company’s net profit reached 608.9 million yuan (close to $87.8 million), an increase of 148.6% from the previous year.Canaan was founded in 2013 and specializes in ASIC high-performance computing chip design, chip research, and development, computing equipment production, and software services that facilitate mining.
“Overall, we are fully aware of the downward pressure from the Bitcoin price since the last fourth quarter and expect it to bring prolonged headwinds to our performance in the coming quarters,” said Nangeng Zhang, Canaan’s CEO. more info

BTC/USD Rejected by 19922:  Sally Ho’s Technical Analysis – 5 September 2022
Bitcoin (BTC/USD) extended its depreciation early in the Asian session as the pair came off to the 19588.27 area before failing to sustain a break of the 19922.06 area, representing a test of the 61.8% retracement of the appreciating range from 19513.74 to 20582.64.  Some upside activity followed that saw BTC/USD ascend to the 19915.16 area, representing a test of the 38.2% retracement of the depreciating range from 20444 to 19588.27.  BTC/USD lost 18% of its market valuation in August and has shed around 81% year-to-date in 2022.  Traders were unable to get BTC/USD to sustain a short-lived break above the 24558.33 level during the month of August, an area that represents the 50% of the depreciating range from 31549.21 to 17567.45.  Following the recent selling pressure, additional significant technical areas on the downside include the 16990.14, 14500.15, and 10432.73 areas. more info

One DeFi staking pool and three centralized crypto exchanges account for almost two-thirds of ETH securing the network ahead of the merge.Ethereum staking pools have been a popular, if somewhat contentious, way for investors without the funds or know-how to get in on network validator rewards.
And there’s been plenty of time to get involved. The merge, which is scheduled to begin next week, has been in the works for years.The merge will shift Ethereum’s current proof-of-work mining model—which requires lots of power to run the mining rigs that process transactions—to a proof-of-stake consensus system that’s expected to use over 99% less energy, according to the Ethereum Foundation.
When the Ethereum mainnet makes that transition, it’ll be validators, not miners, who verify transactions and add them to the blockchain. Like miners, those validators will earn rewards for helping secure the network. more info

Merge activation in Ethereum (ETH) gives its tokenomics unmatched boost Censorship resistance, eco-friendliness, cyber resilience and democracy: What else changes with Merge? Justin Bons, founder and chief investment officer of a veteran European blockchain-centric investment fund Cyber Capital, shares his optimistic forecast for the effect the Merge activation will have on Ethereum's technology, tokenomics health and massive adoption. Merge activation in Ethereum (ETH) gives its tokenomics unmatched boost Mr. Bons has taken to Twitter to share that the upcoming hotly anticipated Merge upgrade — Ethereum's migration from a proof-of-work (PoW) network consensus to a proof-of-stake (PoS) one — will be of particular importance for its tokenomical structure.
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Bitcoin price started a downside correction from the $68,500 zone against the US Dollar. BTC might start a fresh increase unless there is a break below $64,000.
Bitcoin started a downside correction below the $68,000 and $67,000 levels.
The price is still trading above $65,000 and the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a fresh increase if the $64,000 support remains intact.
Bitcoin Price Corrects Lower
Bitcoin price gained pace above the $65,000 support zone. BTC extended its rally above the $66,500 and $67,000 resistance levels. The price even surged above the $68,000 level.
It traded to a new all-time high near $68,495 before there was a downside correction. The price declined below the $68,000 and $67,800 support levels. There was a break below the 50% Fib retracement level of the upward move from the $65,200 swing low to $68,495 high.
However, bitcoin still trading above $65,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $66,000 on the hourly chart of the BTC/USD pair. Source