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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.
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 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
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.
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.
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
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, 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
