Bitcoin News (BTC) - Page 79

Bitcoin down $250 as Report Claims Russia Might Trigger the Next Bull Run
After spending four days above $4,000, Bitcoin has finally given way. And it has been quite a drop, with the currency losing $250 in the space of thirty minutes. The drop sees it trading at $3816 at press time, having dropped from $4,016. Bitcoin had witnessed yet another 30-minute rally on January 6, gaining over $200 in just thirty minutes to hit $4,080. It was the first time Bitcoin had hit the $4,000 level since Christmas and many viewed it as the first step in a possible 2019 rally. Meanwhile, Russia intends to buy bitcoins to the tune of billions of dollars to mitigate the effects of U.S sanction in February. This is according to a report by Australian crypto site which claimed to have had an exclusive interview with a lecturer at a leading Russian economics institution. This could trigger a massive bull run, with the Russian Central Bank sitting on over $450 billion in reserves.
January 10, 2019 6:52 PM

Bitcoin Crowdfunding - uncensorable and self-hosted Kickstarter Alternative powered by BTCPay
At BTCPay, we love eliminating intermediaries. Our core belief is that everyone deserves the right to have total control over their finances and that trusted third-parties are security holes. We build open-source tools for self-sovereign individuals and businesses. Today, we?re introducing a brand-new tool integrated into our self-hosted payment-processor. Crowdfunding is an application which you can launch from BTCPay Server interface that allows you to create a self-hosted funding campaign, similar to Kickstarter or Indiegogo. Unlike traditional crowdfunding platforms, the creator of the campaign is the owner of the platform. Funds go directly to the creator?s wallet without any fees.
January 10, 2019 6:35 PM

Bitcoin Could Be Getting Ready For A Surge
Despite the strong defence that the bulls have been putting up for BItcoin over the past few weeks, the leading cryptocurrency couldn't hang on any longer as the price fell below $4,000 to its current price of $3,820. Even though the news isn?t great for investors in Bitcoin (suppose you?re all used to it by now anyway) one widely used technical indicator is suggesting that the leading crypto could be reaching a point of inflection which could lead it to a huge movement in price. According to NewsBTC, a newly published report details that the leading cryptocurrency is close to making a big movement in price based on the widely used GTI VERA Bands Indicator, this uses trend data over any time frame to give investors insight into which direction an asset is getting ready to jump towards. This suggests that Bitcoin is currently in its longest buying trend since September.
January 10, 2019 6:32 PM

Bitcoin Retracing Weekly Gains
The move from $3800 to $4000 wasn´t natural. A single $200 candle on January 9 took the cryptocurrency to the psychological number of $4000. During this past week, with slightly rising volume Bitcoin attempted to break upwards to test the $4200 resistance level and bouncing off of it immediately. What in normal market conditions can be seen as consolidation, in this current bear market where liquidity is low and bots have taken front seats to mandating price action, Bitcoin could not break resistance and retraced $150 within an hour. This, now typical, formation informally known as a Bart Simpson is the zeitgeist of the current market. Low volumes and very few human actors providing liquidity leave a fertile ground for trading bots to trigger moves to the upside and downside. In these cases, liquidity is provided by stop losses. Only a moderate push to the downside triggers bot action, which lead the price down to the nearest support.
January 10, 2019 6:23 PM

A Profit-Seeking Prophecy (for bitcoin entrepreneurs) by Vin Armani
The seeming aversion to profit within certain influential sectors of the Bitcoin community has always struck me as a rather peculiar neurosis. Bitcoin is money. It?s designed specifically to be peer-to-peer cash, in fact it says so in the title of the white paper. Profit-seeking represents, in large part, a desire for the acquisition of money through valuable economic activity. One would think that the relationship between Bitcoiners and profit-seekers would be harmonious and symbiotic, and yet it isn?t. Granted, Bitcoin emerged from an already established and vibrant open source software community. At the core of the open source ideology is the notion that unpaid contributors offer code, free of charge, to the world. The fact that Bitcoin was offered as open source from the beginning has been a prerequisite for its growth and adoption. You can?t turn a profit on something you give away for free. But Bitcoin is money, and money isn?t free. Ten years into the experiment, with a need to spur mass adoption, the time has come to reexamine the role of profit in Bitcoin.
January 10, 2019 6:16 PM

On Bitcoin Strength Or How Strong Is Bitcoin
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January 10, 2019 6:06 PM

Bitcoin (BTC) Crashes Hard As EUR/USD Runs Into Trend Line Resistance
Bitcoin (BTC)?s recent crash left many analysts and investors clueless as to the cause of this sudden decline. However, those who realize by now that Bitcoin (BTC) does not make decisions as big as these on its own have already figured out that the recent drop has to do with EUR/USD running into a strong trend line resistance. As long as the Euro remains in a state of confusion, BTC/USD is expected to do the same. We will see some sideways movement but no definite direction until EUR/USD makes a decisive move. One might argue that Bitcoin (BTC) faced similar conditions after the previous bear market but I beg to differ. The trend line support we see for EUR/USD goes all the way back to December, 2016. On the other hand, the trend line resistance dates back to February, 2018.
January 10, 2019 6:03 PM

Is Bitcoin Recession Proof | Crypto Briefing
Crypto Briefing exists to advocate for the safe and responsible integration of blockchain and cryptocurrency into mainstream life. We believe. Our goal is to grow the crypto community - to help new converts understand the basics, and to share our research with experienced enthusiasts. Our ICO reviews are independent, unpaid, and unsponsored. Contact us: editor AT Crypto Briefing - ICO and Cryptocurrency Analysis, News, Features, Ratings and Reviews - Cryptocurrency News, Digital Asset Analysis, & Blockchain Updates What Is Monaco? Introduction to the MCO Token What Is Electroneum? Introduction to ETN Token
January 10, 2019 5:34 PM

French Tobacco Shops Start Selling Bitcoin Despite Regulatory Uncertainty
Several tobacco shops in Paris have started selling Bitcoin in partnership with local crypto wallet despite the regulatory uncertainty. Despite the regulatory uncertainty, several tobacco shops in Paris start selling Bitcoin following a November partnership with local crypto startup Several tobacco shops in Paris, France, have started selling Bitcoin (BTC) for fiat despite regulatory uncertainty, Reuters reports Tuesday, Jan. 8. Reuters has learned that the world?s largest cryptocurrency can now be purchased at six tobacco shops throughout Paris. However, in a contradicting report French magazine Capital has claimed that there are as many as 24 shops currently participating in the experiment backed by Keplerk ? a French cryptocurrency wallet provider.
January 10, 2019 4:46 PM

Reasons Why Bitcoins Lightning Network Is Revolutionary
Short Description: Lightning Network is designed is solve the scalability deficiencies inherent in the Bitcoin blockchain. Here are the reasons why it is viewed as ingenious. Currency of the New Age ? as Bitcoin is popularly called, ought to be the most secure, cheapest and fastest means of transaction but its recent form depicts the opposite. This however threatens the scalability of the coin. Is there a way to fix this? Stick around and you?ll find answers. One of the many Blockchain technology benefits is the avalanche of digital currencies with Bitcoin being the most popular and utilized coin thus far. The Bitcoin has excelled overtime but has been plagued by scalability issues.
January 10, 2019 4:45 PM

Bitmain Technology, the world?s biggest maker of cryptocurrency mining rigs, is poised to name a new CEO to replace company co-founders Wu Jihan and Zhan Ketuan, people with knowledge of the matter said. The potential successor is Wang Haichao, who currently holds the position of product engineering director at the Beijing-based company, but has already taken over duties from co-CEO Wu and Zhan in a transition period that started in December, according to the people, who asked not to be identified because the information is private. There is no timetable yet for Wang to take over the CEO position from Wu and Zhan, who will remain as the company?s co-chairs, one of the people said.
January 10, 2019 4:19 PM

There's a new and interesting next Generation Bitcoin Payment Network in the works
High throughput, low latency, off-blockchain payments. Try it for yourself. Bitcoin supported. Teechain, a new off-chain payment protocol that utilizes trusted execution environments (TEEs) to perform secure, efficient and scalable fund transfers on top of a blockchain. Read the Teechain research papers: Teechain offers instant and scalable micropayment transactions for existing blockchains. It supports both point to point payment channels, and routing along payment chains in the network. Throughput scales linearly with the number of point to point payment channels. Teechain achieves higher throughput and lower transaction latency than existing blockchains. Our experiments show that it is also 10x faster than off-chain competitors. For example, fault tolerant Teechain payment channels can process over 30,000 transactions per second, per channel, with millisecond latency. Routing along payment paths takes at most seconds.
January 10, 2019 4:16 PM

Russian economist: government will use bitcoin to avoid sanctions
The lecturer has been advising Russian officials that ?Bitcoin is the best way to allay the impacts of tough US sanctions against the Kremlin?. A Russian economist has told Australia?s Micky website that the Russian government may start buying bitcoin heavily next month to avoid incoming US sanctions. Vladislav Ginko, a lecturer at Moscow?s Russian Presidential Academy of National Economy and Public Administration, anticipates new US sanctions will force the Kremlin into diversifying its cash reserves into Bitcoin. ?US sanctions may be mitigated only through Bitcoin use,? Said Mr. Ginko, speaking to Micky from Moscow.
January 10, 2019 4:08 PM

Bitcoin's failure to break out and subsequent dump demonstrates the fragility of the market
After three days of valiantly attempting to break out of the $4,050 level of resistance, Bitcoin slumped to a 5% move to the downside on Thursday. Interestingly, there was no news or fundamental changes that affected price action, demonstrating the fragility of this immature asset class. Volatility in cryptocurrency isn?t a new concept. Bitcoin and the more illiquid altcoins often make substantial moves in either direction without a real catalyst. While this is attractive to day traders, it really diminishes Bitcoin?s status as a store of value and an international payment service. The claim of Bitcoin advocates is that Bitcoin will revolutionise cross-border money transfers, but when price can move 5% in a 30-minute period when a transaction is being confirmed, it hardly represents value or stability.
January 10, 2019 4:04 PM

From Napster to Bitcoin: The Evolution of Peer-to-Peer Networks
Today, cryptoassets like Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH) use peer-to-peer (P2P) networks to accomplish a number of things. P2P networks, however, did not begin with Bitcoin or other cryptoassets. They began as platforms for sharing file sharing. In August 1988, the Internet Relay Chat (IRC) was developed as one of the first peer-to-peer (P2P) networks built for sharing text and chatting. Similar P2P networks developed throughout the next decade. On June 1, 1999, Napster allowed the sharing of music on its own centralized P2P network. Over the next several years, three generations of P2P media file sharing services evolved. Together, they paved the way for other P2P networks, including the Bitcoin network, which was released on Jan 3, 2009.
January 10, 2019 3:22 PM

It's Time We Began Pricing Things in Satoshis
What can you buy with a virtual pocketful of satoshis? Why, anything and everything. Whatever goods or services you can purchase with BTC or BCH you can purchase with their smaller units of account ? the satoshi, or ?sat? for short. With 100 million of them to every bitcoin, satoshis are as divisible as they are versatile. But for satoshis to thrive, the Bitcoin community needs to start using them to price products. Only then can the simple sat start to shine. Also read: Eight Historic Bitcoin Transactions Digital scarcity is all relative. It?s drummed into us that there will only ever be 21 million bitcoins, and thus the vast majority of people will never own a whole BTC or BCH. This isn?t a problem, since each bitcoin is divisible into 100 million sats, but from a marketing perspective, this is a major issue. Most people who?ve heard of Bitcoin know that you don?t have to buy a whole bitcoin. What they probably don?t know, however, is that simply through switching from bitcoins to satoshis, it?s possible to price a wide range of products, from candy bars to guitars. Before that can happen, though, there?s work to be done in raising awareness of sats and their many applications.
January 10, 2019 3:20 PM

Which Central Bank Will Be the First to Keep Bitcoin in Its Reserves
In 2017, when at one point Bitcoin jumped to $20,000, CEO Peter Smith made some huge economic ripples claiming that in the following year, central banks across the globe will start holding crypto as just another form of reserve currency. With that following year coming to its conclusion without much certainty on whether or not Smith?s claims have been actualized, we cannot but wonder if central banks will start holding reserves in bitcoin and if yes???which bank will be the lead? It?s been a while since cryptocurrencies were labeled as controversial. In this new context, however, which suggests not only that Central Banks will start holding digital currencies in the nearest future, but also that decentralized money could soon become centralized, cryptos are labeled as polarizing.
January 10, 2019 3:18 PM

Bitcoin 0Day Discovers Only $54 Worth of Bitcoin, $14 XRP and 0
Crypto researchers have discovered what they claim is a previously unknown vulnerability in digital signatures which happens to affect only $54 worth of bitcoin out of its circa $70 billion market cap. The problem appears to be some faulty set-up in hardware, multi-sig, or perhaps a custom hand coded design that generates a not very random number (nounce) when signing with the same private key twice or more. In giving a summary, Joachim Breitner, one of the researchers, says: ?When you create a cryptographic signatures using ECDSA (the elliptic curve digital signature algorithm), you need to come up with the nonce, a 256 bit random number. It is really important to use a different nonce every time, otherwise it is easy for someone else to take your signatures (which might be stored for everyone to read on the Bitcoin blockchain) and calculate your private key using relatively simple math, and with your private key they can spend all your Bitcoins. In fact, there is evidence that people out there continuously monitor the blockchains for signatures with such repeated nonces and immediately extract the money from compromised keys.
January 10, 2019 3:03 PM

Central Banks Getting More Involved With Bitcoin
In a recently published report by the Bank of International Settlements (BIS), central banks in most its affiliate countries would have a high interest in having a better understanding of blockchain technologies and the possible implications of their adoption. Part of the report states: ?In addition to changes in how payments are made, even the type of money used could be changing. Across the world, central banks are reportedly thinking about how new central bank digital currencies (CBDCs) could replace traditional money (CPMI-MC (2018)). There is significant public interest in such a fundamental potential change, and this paper takes stock of central banks? current work and thinking.?
January 10, 2019 3:02 PM

Less than 1 % of Bitcoin Addresses Have a Value of about $62 Billion
Please use WeChat scan two-dimensional code login A recent analysis of bitcoin addresses shows less than 1 % of addresses in Bitcoin network have a value of around $62 billion, and the wealthiest addresses belong to cryptocurrency exchanges, China?s state-run financial publication National Business Daily (NBD) reported Monday. The report cited data from to show that 22.65 million bitcoin addresses have at least some amount of the world?s largest cryptocurrency as of January 7 2018. Of those bitcoin However, of those, about 97.2 percent?or 22 million addresses own less than 1 bitcoin, and 0.7 percent have more than 10 bitcoin.
January 10, 2019 2:35 PM

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