While price appreciation is always good for an asset class, in the case of cryptocurrencies the benefits go way beyond profit.
CoinDesk
Op Ed: Why Bitcoin’s “Toxic” Maximalism Makes Sense
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.
10 Passes to Go: Bitcoin’s Lightning Torch Will Soon Burn Out
The globe-trotting bitcoin payments experiment is nearing its end, having attracted participants like Twitter CEO Jack Dorsey.
CoinDesk
Winklevoss Twins: Regulation Will Help Boost Bitcoin’s (BTC) Price
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
Bitcoin Price Analysis: Bullish Rejection Wipes Out Bitcoin’s Weekend Gains
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.
Op Ed: How Bitcoin’s Protocol of Peace Can End the Nuclear Age
Since it came to life in early 2009, Bitcoin has begun disrupting the world of finance. Over the years, this decentralized digital currency came to mean different things for different people. For some, it presented opportunities for prosperity, becoming the best performing asset in their portfolio. For others, this peer-to-peer cash for the internet represents a non-confiscatable digital gold that could enable financial sovereignty. For those who are concerned about civil liberty, Bitcoin’s censorship resistance and permissionlessness define it as free speech money. “Yellow Vest” protesters occupying in the streets of Paris found allies in this rebel crypto that promises to end the tyranny of central banks.
Drivechain Creator’s Latest Paper Sparks Debate Over Bitcoin’s Future Security
Drivechain developer Paul Sztorc has the cryptocurrency community riled up over his latest blog “Security Budget in the Long Run.” The essay discusses the economics of BTC network fees over a long period of time and suggests rather than giving up the fees to competition, a dominant protocol should collect fees “from all networks.”
Also Read: More Than 30% of BTC Traffic Stems from the Veriblock Project
Is It Time to Take an Initiative to Decrease Bitcoin’s Block Size Seriously?
Whilst debate raged throughout the Bitcoin community over whether the block size limit should be increased and how, Luke-jr for years stood out for arguing the exact opposite position. One megabyte blocks weren’t too small, he maintained even as SegWit’s block size increase gained broad support, they were too big. No increase, but a decrease was needed.
Now, the Bitcoin Knots and Bitcoin Core developer is spearheading an attempt to make such a decrease happen, as a temporary measure. And if social media is any indication, the initiative is attracting more interest than many might have expected it would.
Bitcoin’s Social Contract Must Be Resilient to the Whims of Future Generations
Over the last few years, infighting and different visions has led to significant divides within the Bitcoin community, weakening the network effects no matter which chain you support. With all the arguments about scaling, privacy, consensus changes and the various forks, it is amazing that these public networks are still thriving. Nevertheless, the people who maintain the various software protocols that communicate with Bitcoin and the network’s many participants have lives that are finite — which means we don’t know if future generations will change the social contract Satoshi Nakamoto created years ago.
3 Technical Proposals for Increasing Bitcoin’s Privacy
Privacy is a constant battle between those who wish to increase it and those who would strip it away. Never is this war more apparent than in Bitcoin, where factions with opposing ideals find themselves at loggerheads. On the one side are the blockchain surveillance companies that work hand-in-glove with the three-letter agencies, regulators, and governments. And on the other side are the cryptographers and developers seeking to introduce protocols that will bolster Bitcoin’s privacy.
Also read: Privacy and Scaling: Schnorr Signatures Are Coming to Bitcoin Cash
Proposal to Increase Bitcoin’s 21 Million Supply Sparks Debate
21 is a number that holds deep symbology to bitcoiners. In addition to denoting the total number of bitcoins, in millions, that will ever be issued, it’s inspired scores of cryptocurrency business names, websites, and merchandise designs. Despite its assumed inviolability, some members of the community are opposed to Bitcoin’s rigidly set 21 million supply. If they have their way, that arbitrary cap will be lifted. For many devout bitcoiners, this suggestion is sacrilegious.
Also read: Quadrigacx Saga: Founder’s Widow Owns $ 5.6m Properties, Hospital Confirms Cotten’s Death
Koala Studio Launches Gaming Platform Built on Bitcoin’s Lightning Network
Koala Studio, a new online gaming platform built on Bitcoin’s Lightning Network, launched this week with the release of its take on the classic game of chess: Lightning Chess. We’re LIVE! After months of long nights and countless checkmates. Lightning Chess♟️and Koala Studio 🐨🎮 are finally ready for prime time. Come experience the new Lightning […]
SludgeFeed
Stacks Network Plans to Leverage BTC’s Proof of Work and Burn Bitcoins
Blockchain startup Blockstack has revealed the company is in the midst of developing a new distributed ledger protocol called Stacks, a chain that leverages the hash power from the Bitcoin Core (BTC) network. Not only is the Stacks network secured by over 45 exahash of distributed hashrate, but its consensus algorithm also burns BTC by using a mechanism known as proof of burn (PoB).
Also read: Properties Are Still Being Sold for Cryptocurrency Despite the Bear Market
Did Bitcoin’s Q4 2018 Price Performance Prove It’s Not Digital Gold? Think Again
Writing for Market Watch Tuesday, Aaron Hankin asserts that Bitcoin’s price plunge along with the NASDAQ and other equities benchmarks in Q4 2018 proves Bitcoin is more like a tech stock than digital gold as some Bitcoin proponents have characterized it. Typically when soft assets like stocks and bonds are in free fall, investors’ money flees into hard assets like precious metals for shelter from the market turbulence. That’s exactly what happened with gold in Q4 2018. As Wall Street crashed and burned, the spot price of gold was buoyed by investors looking for relief from the hemorrhaging. If Bitcoin
Is Bitcoin’s Printing Press Propping up the Crypto Market?
By CCN.com: The total market capitalization of the cryptocurrency market is currently over $ 120 billion. However, studies show that billions of dollars worth of this market cap is from built-in inflation. Over the course of 2018, $ 15 billion in new tokens entered the supply, buttressing the overall market valuation even as prices plunged. Bitcoin Inflation
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MimbleWimble: Is Bitcoin’s Curse Looming on The Horizon?
By CCN.com: MimbleWimble, named after a curse from the Harry Potter book series, is a protocol, much like Bitcoin’s blockchain, that contains improved privacy features derived from multiple technologies, some more established than others. Key components in MimbleWimble are: (a) Elliptic Curve Cryptography (ECC), which enables private-public key encryption – a way to prove you
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The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The Dust’ Is Wrong
By CCN.com: Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust,” along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk published an op-ed by Dowd Monday,
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What Death Spiral? Bitcoin’s Hashrate is Still Climbing
Following a period of sustained bearish sentiment in the Bitcoin mining market accompanied by three notable hashrate reductions in the final third of 2018, the flagship cryptocurrency’s network appears to be back on its way to optimum health. Bitcoin Reverses Hashrate Decline In December, CCN reported that the flagship Bitcoin blockchain’s hashrate dropped by 7 … Continued
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Willy Woo Is Using This Indicator to Find Bitcoin’s (BTC) Bottom
Willy Woo, an independent crypto analyst with a notable following on Twitter, doesn’t believe that Bitcoin (BTC) has yet seen its bottom during this bear market. In a recent tweet, Woo revealed that he is currently tracking on-chain transaction volume volatility as an indicator. However, he believes the current data points to more pain ahead […]
SludgeFeed
Twitch Streamer Receives a Donation of 20 Bitcoins while Playing Runescape
An anonymous donor surprised popular Twitch streamer Sick Nerd with a donation of 20 bitcoins. He was streaming Old School RuneScape at the time to his 109,000 followers. Twitch Streamer Nets a Large Bitcoin Donation Initially, Sick Nerd received a donation of 4 BTC. He received more BTC throughout his stream. While the gamer at
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