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Following Donald Trump’s sudden and mysterious tweets regarding bitcoin last week, Treasury Secretary Steven Mnuchin held an unexpected press conference on Monday. He used coded language telegraphing the end of bitcoin and cryptocurrency. The Feds Want to Stop Crimes and Stabilize Markets Steven Mnuchin was not lying when he said that the federal government wants […]
The post Treasury Secretary Seals Bitcoin’s Impending Death by a Thousand Cuts appeared first on CCN Markets
The Cambridge Centre for Alternative Finance has released an index of sorts devoted to macro data about Bitcoin, all of it relating to electricity consumption. Tree Huggers Take Solace Historically, one great objection to Bitcoin has been its perceived large-scale energy consumption. Some question the logic of building out an entirely new system when the […]
The post Bitcoin’s Energy Use Isn’t Crazy, Rivals Switzerland’s Power Consumption appeared first on CCN Markets
The popular wallet service Electrum is soon to add official support for bitcoin’s lightning network, its founder has told CoinDesk.
CoinDesk
In an age of unprecedented censorship, surveillance and rampant deplatforming, Bitcoin stands out as a beacon of hope. Its decentralized ledger enables value to be transmitted to anyone, anywhere without fear or favor. Whether you’re a Mongolian goat herder or a Miami drugs baron, your money is good when it’s sent as bitcoin. But Bitcoin alone is not enough. For it to function fully, it requires an uncensorable internet, from base layer to application.
Also read: Side Effects of Economic Growth: Is Snowden Right to Say Bitcoiners Shouldn’t Be Bankers?
On Wednesday, June 26, the price of BTC came close to reaching $ 14K. One hour later, it had dropped by close to 18%. Such events are known as a flash crash, a moment in time where a rapid-sell off happens and often times a few exchanges become inoperable. Over the last few years, especially when the market is extremely bullish, flash crashes have been prevalent.
Also Read: Iranians Defy Warning and Share Pictures of Bitcoin Mining in Mosque
Maya Preferred 223 (MAPR), a stablecoin with each unit worth about $ 34,000 in gold and silver assets, announced that their ambitious plan to back Bitcoin with gold and silver has entered its final stage. Part of Maya Preferred 223’s business plan is to stabilize the cryptocurrency market by using its own coin to back other […]
The post Your Bitcoins Are Now Fully Backed by Gold and Silver appeared first on CCN Markets
Bitcoin has been on a tear lately, exploding from $ 3,000 to over $ 13,850.While pundits try and ascribe reasons for the move, bitcoin traders who have managed to ride the wave are cheering. For now. If anything, this wacky move only serves to support the long-term bearish argument on bitcoin. What Goes Up… One of my […]
The post Bitcoin's Parabolic Move Shows Why It's a Sucker's Bet appeared first on CCN Markets
The bitcoin price roared to a new 2019 high in the early hours of Wednesday, briefly touching $ 13,000 on the Huobi exchange. Bitcoin is now at levels not seen since January 2018 with a market capitalization of $ 224.7 billion. But where is the money coming from? Data from CoinLib reveals that BTC’s latest rally is […]
The post Parabolic Bitcoin Price Smashes $ 13,000: The Money Behind Bitcoin's 'Explosive' Run appeared first on CCN Markets
The growing consensus among crypto pundits and experts is that this Bitcoin bull run is decidedly different from the one that left so many wide-eyed retail investors who succumbed to FOMO in 2017 out in the cold just months later. Why 2019 is Different Than 2017 For one thing, it appears retail FOMO has only […]
The post Bitcoin's Second Moon Landing is Nothing Like the First One: SFOX appeared first on CCN Markets
According to Business Korea, hundreds of minor crypto exchanges in South Korea could run smack into heightened scrutiny for failing to abide by proposed enhanced know-your-customer (KYC) regulations, which would require exchanges to only provide services to users with “real-name accounts” issued by local financial institutions. Earlier this month, the Financial Action Task Force, an intergovernmental organization under the G7, proposed guidelines that encourage all crypto exchanges to share customer data. Although industry executives and experts have indicated that the ruling of the FATF is highly impractical and may be counterproductive, many countries in the G7 and the G20 –
By CCN Markets: Hackers who paralyzed Florida’s Riviera Beach City’s IT infrastructure are about to laugh all the way to the bank. This is after the Riviera Beach City Council voted to authorize the city’s insurer to meet the ransom demands of the hackers who planted ransomware in the city’s computer systems. The hackers have been demanding 65 bitcoins, worth over $ 606,000 at the current bitcoin price, per The Palm Beach Post. Quick bitcoin ransom payment Perhaps as an indication of the urgency of the matter, the council voted unanimously in two minutes the board to authorize the payments. The
The first protocol for issuing tokens via bitcoin’s lightning network is aimed to rival ethereum’s ERC-20. But that’s a tall order.
CoinDesk
A bar in Japan is teaming up with a locally-based lightning startup to let customers pay using the experimental payments network.
CoinDesk
Can a logo symbolize the ethos of a project? An industry? An entire movement? Bitcoin’s might have come close.
CoinDesk
Delphi Digital has returned with another installment of its unspent transaction output (UTXO) reports. Recalling its report from January of this year, the research firm says bitcoin’s market cycle is right on track. The prior report called Q1 as the bottom of the bear market, and this claim was later corroborated by Adamant Capital’s own evaluation.
As before, Delphi Digital’s evaluates UTXOs as presages of market buying and selling, and by extension, the future trajectory of the market. UTXOs is a technical way of describing the last time bitcoin was moved by looking at the last block a transaction was included in.
While price appreciation is always good for an asset class, in the case of cryptocurrencies the benefits go way beyond profit.
CoinDesk
Over the years, Bitcoin has gained a reputation for having a “toxic” community of users around it. This accusation is mostly thrown at Bitcoin by proponents of altcoins and those who have supported various Bitcoin hard fork attempts in the past.
Of course, this is an oversimplification of the Bitcoin community. Crypto Twitter, which is the main hub of online cryptocurrency conversations these days, does not make up anywhere near the entire Bitcoin user base. When people talk about the Bitcoin community being toxic, they’re mostly complaining that some Bitcoin users were mean to them on the internet.
The globe-trotting bitcoin payments experiment is nearing its end, having attracted participants like Twitter CEO Jack Dorsey.
CoinDesk
Tyler and Cameron Winklevoss, the founders of Gemini, believe that the cryptocurrency market is in need of more regulation. While speaking at SXSW in Austin, Texas on Friday, the Winklevoss twins touched on the aftermath of the alleged death of Quadriga CX CEO Gerald Cotten, which has left investors unable to access some $ 200 million […]
SludgeFeed
Over the weekend, a strong rally was stifled by an even stronger rejection as the bitcoin market was shoved into a band of overhanging resistance. This band of resistance has been mentioned several times in our analyses over the last few weeks as it has proven impossible to overcome for the time being:
Figure 1: BTC-USD, Daily Candles, Failed Breakout
This run to the low $ 4,000s coincided with a breakout of a rather large symmetrical triangle consolidation shown above. It managed to establish a new, local high but was immediately rejected on high volume and very high spread. This rejection formed a candle called a “bearish engulfing candle” that completely wiped out a week and a half’s worth of gains in just a couple hours.
