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Cryptocurrency bull Tom Lee says bitcoin’s dismal price of roughly $ 3,400 is wrong because its actual fair market value is $ 13,800 to $ 14,800. The Fundstrat founder said he made the assessment by considering the number of active wallet addresses, usage per account, and supply metrics. “Fair value is significantly higher than the current price of Bitcoin,” he wrote
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Tom Lee, the co-founder of market strategy firm Fundstrat Global and serial CNBC contributor, believes that the fair value of Bitcoin (BTC) is between $ 13,800 and $ 14,800, or roughly 4.2x higher than its current value. As detailed in a recent report by Bloomberg, Lee published a letter to investors on Thursday stating that the number of active wallet addresses, […]
SludgeFeed
Bitcoin was born as a wholly digital currency, and it might have remained that way had it not been for the efforts of an early adopter from Utah. His name was Mike Caldwell, but on the Bitcointalk forum, he was better known as Casascius. The physical bitcoin creator took a digital phenomenon and converted it into physical matter. For the first time in history, bitcoins were tactile.
Where 2017’s dizzying price highs embedded “hodl” into the public consciousness, 2018 was the year in which “buidl” became a trend in the crypto-industry — and Bitcoin was no exception.
Anticipated in Bitcoin Magazine’s first cover story of 2018, Bitcoin’s technological progress only accelerated this year. Improving Bitcoin from around the world, developers and entrepreneurs furthered Segregated Witness adoption, rolled out the Lightning Network, released privacy solutions, realized sidechains and made progress on a Schnorr signature solution — all of which were still around the corner only a year ago.
As the market continues to tumble (and mining profits have dwindled), Bitcoin’s mining difficulty dropped by its largest percentile in seven years — the second largest downward correction in the cryptocurrency’s lifetime.
The last time bitcoin experienced an adjustment on par with this recent one was on October 16, 2011, when it dropped 13.1 percent. Just over two weeks later, the network would experience its most significant difficulty decrease, falling by 18 percent on November 1, 2011.
Now, on December 3, 2018, the network’s mining difficulty has fallen by 15.1 percent as mining profitability has waned in response to struggling prices.
One of the biggest victims of this year’s bear market has been the miners. The pain has been fairly evenly distributed between the large-scale enterprises, which invested significant capital to mine against falling profitability and the small-scale amateur miners, who were priced out of the market. While some view this as a major issue within […]
SludgeFeed
On Jan. 3, 2019, cryptocurrency proponents the world over will commemorate Bitcoin’s 10th anniversary. While some will raise a glass to Satoshi’s decade-old accomplishment, others may choose to mark the occasion by acquiring a piece of memorabilia. Predictably, there is no shortage of companies lining up to hawk commemorative bitcoin baubles. Also read: Sirin Labs Launches Blockchain-Centric ‘Finney’ Smartphone
Michael Moro, the CEO of Genesis Global Trading, an OTC digital currency trading firm, believes that Bitcoin’s (BTC) price decline is not yet over, setting a price floor of $ 3,000. In a recent interview on CNBC, Moro revealed that he sees another 30% decline for Bitcoin, stating, “You really won’t find [the floor] until you kind of […]
SludgeFeed
Over the past week, the price of Bitcoin has dropped by more than 35 percent, and the majority of analysts in the crypto space have shared the sentiment that the crash was triggered by the contentious hard fork of Bitcoin Cash. According to Bart Smith, the head of digital asset at trading giant Susquehanna, a
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Gabor Gurbacs is confident that the approval of a bitcoin exchange traded fund (ETF) is inevitable. And he’s optimistic that the VanEck SolidX Bitcoin Strategy will be the first to deliver one to the world.
The director of Digital Asset Strategy at VanEck/MVIS, Gurbacs, as of late, has become a leading voice on the space’s ETF pursuit at a time when industry chatter on the topic has never been louder. If you haven’t found him extolling the benefits of a bitcoin ETF on Twitter, you may have come across his interviews on Anthony Pompliano’s podcast and Ran Neu-Ner’s Crypto Trader show for CNBC Africa.
A lawyer for early bitcoin adopter Charlie Shrem is biting back at claims that his client stole 5,000 bitcoins from Cameron and Tyler Winklevoss, founders of crypto exchange Gemini and the “first bitcoin billionaires.” In a filing dated Nov. 5, lawyer Brian Klein claims that the 5,000 BTC in question, which the Winklevoss twins allege
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By Rafael Delfin, Head of Research at Brave New Coin, a leading provider of high-value cryptocurrency market data and insights, since 2012. October 31st, 2018 marked the 10-year anniversary of the publication of Bitcoin’s white paper. While it was initially circulated among a small and obscure cryptography mailing list, one decade later, the implementation of
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For the loose group of developers who work on the Bitcoin protocol, the Lightning Network is generally viewed as the best option in terms of gaining massive improvements in the area of scaling for the peer-to-peer digital cash system. Unsurprisingly, the developers behind various altcoins have taken notice and plan to implement the layer-two scaling solution as well. Unfortunately for the altcoin developers, they may be adopting a technical improvement that will have a negative effect on the prices of their respective coins.
Bitcoin’s Strong Network Effects
The Model T democratized the car industry – and the bitcoin white paper did the same for payments, says Ripple’s top technologist, David Schwartz.
CoinDesk
Bitcoin’s white paper solving the double-spend problem in the digital world makes near real-time commerce possible across the entire planet.
CoinDesk
As we’ve previously discussed, bitcoin price volatility is a main area of concern for people who are thinking about moving into the world of cryptocurrency for the first time. This is an issue that can only be solved with time, but it’s possible that smart contracts will be able to enable a bit more stability for those who seek it over the short term.
What is a Smart Contract?
“Smart contract” is a term that every new blockchain-related project stuffs into their marketing materials, but the technical meaning of this phrase has been mostly lost in all of the hype around applying this new technology to almost every aspect of our daily lives.
Bitcoin has been trading in the very narrow range of $ 100 for seven days – that’s the longest run at such low volatility since April 2017.
CoinDesk
It’s been 10 years since bitcoin creator Satoshi Nakamoto published his white paper on bitcoin, and the global economy hasn’t been the same since. The original cryptocurrency now boasts a market cap of more than $ 112 billion, while bitcoin’s dominance hovers at more than 53%. But if you ask Nigel Green, founder and CEO of
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Until recently, Germany’s Federal Financial Supervisory Authority (BaFin) classified bitcoin as a financial instrument, but a subsequent court ruling disclaimed this categorization and decided that the cryptocurrency does not meet this definition under the terms of the German Banking Act (KWG). Bitcoin Unrecognizable to German Legal Framework The Berlin Court of Appeal in September dismissed
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One of the most common (and most valid) criticisms thrown bitcoin’s way over the years has been the issue of price volatility. With price swings of 10 percent or more in a single day, how is anyone supposed to use this digital asset as a real-world currency?
While a number of different theories have been discussed in terms of how bitcoin will eventually become a less volatile form of money, the reality is there is only one real solution to this problem: time.
Bitcoin’s Future Price Has a Wide Range
