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Posts published in “Bitcoin”

What Is Bitcoin Taproot?

Taproot is a soft fork of the Bitcoin blockchain that enhances Bitcoin scripts to enhance privacy and improve other factors related to complex transactions. Taproot…

What Is RSK, The Bitcoin Smart Contract Network?

Bitcoin has limited functionality when it comes to smart contracts. A classic example is the Bitcoin wallet, which is built with a scripting system and…

Bitcoin Investors Think All Time High On Horizon

Bitcoin price has sprung beyond $60,000 for the first time since April, indicating a broad market price swell. On Friday, the first market mover of…

Bitcoin 2021: Patrick Byrne On The End of Fiat

Patrick Byrne spoke at Bitcoin Magazine’s Bitcoin Conference 2021 on the End of Fiat stage in what he termed a “rare, rare appearance.”  After the…

Bitcoin 2021: What It Means To Lose Your Freedom

From prison—a maximum security federal penitentiary, to be exact—Silk Road founder Ross Ulbricht placed a phone call with the Bitcoin community in attendance at Bitcoin…

Should you invest in Bitcoin right now?

Should you invest in bitcoin right now?  When bitcoin was launched initially, it was meant to be a platform that allows for anonymous payments. The…

Bitcoin to reach $300-$500k in 2021: Exante

BTC’s price to reach $300-$500k in 2021 By Victor Argonov, senior analyst at International investment firm, EXANTE Not too long ago, predictions that Bitcoin would…

Bloomberg Crypto Analyst Says Bitcoin Should Be $15,000

According to Bloomberg crypto analyst Mike McGlone, bitcoin is worth $15,000, not the $10,900 price as of press time. McGlobe is the senior commodity strategist at Bloomberg and, upon examining various factors like bitcoin’s rising hashrate––which continually hits new records––he determined Bitcoin is undervalued at current levels.

What Does University of Cambridge’s New Cryptocurrency Study Say About The Market?

The University of Cambridge and the school’s Centre for Alternative Finance published its third “Global Cryptocurrency Benchmarking Study.” The study examines crypto’s overall growth, as well as the niches of mining, off chain activity, crypto asset user profiling, regulation, and security. 

The September 2020 study highlights in particular mining, payments, custody, and exchange. Apolline Blandin, Gina Pieters, Yue Wu, Thomas Eisermann, Anton Dek, Sean Taylor, and Damaris Njoki co-authored the proposal. 

China Amends Bitcoin Inheritance Laws

After two secessions held in Beijing, China is drafting legislation to protect cryptocurrency inheritances. A draft of the country’s Civil Code was adopted, which regulates…

The State of Bitcoin According to BTC Investor Trace Mayer

Trace Mayer has a long history in the Bitcoin industry. As an investor, Mayer he has backed well-known Bitcoin companies, including BitPay, Armory, and Kraken. He’s well-read in Austrian economics, and has degrees in law and accounting.

The Coronavirus Outlook & The Global Economy

We’re likely not looking at a full recession like 2008, but global economies will reset amid the coronavirus pandemic. 

The RMB took a 20% hit. The Chinese government put an 175 billion liquidity injection into the markets. (600 million RMB had been destroyed due to Coronavirus existing on the bills.)

Winklevoss Capital, Peter Thiel’s Founders Fund, and Polychain Capital Back Bitcoin Mining as Digital Flare Mitigation Services

Crusoe Energy Systems, which converts natural gas to energy-intensive computing from its Denver base, has landed capital to build a new bitcoin mining facility.

The company plans to install 70 units next year, each having a capacity of about 1 megawatt (MW). Chase Lochmiller, Crusoe CEO, told Bloomberg in an interview on Saturday that Crusoe raised $70 million in fresh capital to fund its projects.

The new capital comes from two rounds, including $30 million in equity funding and $40 million in project financing. Bain Capital Ventures, already an invstor in Crusoe, KCK Group, Peter Thiel’s Founders Fund, Winklevoss Capital, and Polychain Capital took part in the fundraising. New York-based credit fund Upper90 led the $40 million round.

Shipping Containers Housing Bitcoin Mining Equipment Topple During Colorado Gale

Shipping containers housing bitcoin mining machines topped over amid high winds. Those containers, which are stacked four high, fell amid high winds on Nov. 29 and 30.

“As you may know, a wall of shipping containers came crashing down at Bldg 1625 — 3G Venture II — during the high winds of this past Friday and Saturday, 29 & 30 November, 2019,” wrote Graham Becker in an email to officials with the city, Fire Department and Pikes Peak Regional Building Department. “Fortunately, as far as I know, no one was killed or injured. Very fortunate, indeed.”

SEC: A Bitcoin ETF Approval Forthcoming

Dalia Blass, the director of the Division of Investment Management at the Securities and Exchange Commission, says the agency could soon approve a Bitcoin ETF.

The unlisted, closed-end interval fund will not provide daily redemptions nor be subject to considerable and unexpected liquidity demands during short periods, she commented during a keynote speech for the iCI Securities Law Development Conference.

Court Upholds Nordea Bank’s Ban on Employee Bitcoin Purchases

Nordea, a Danish Bank, won a court case allowing it to prevent staff from buying Bitcoin and other cryptocurrencies.

Nordea first banned its employees from owning bitcoin in January 2018, after which Danish finance and workers’ rights figures threatened legal action.

New Bitcoin Exchange Traded Product Launches on Switzerland ‘s SIX Stock Exchange

New York-based WisdomTree launched a new bitcoin exchange traded product (ETP) on Switzerland’s SIX stock exchange. This product, which is physically backed by crypto, will compete on SIX with Amun AG’s similarly-designed bitcoin ETP, and is settled in the underlying asset.

WisdomTree, which has provided gold-based ETPs in Europe since 2003, said its Bitcoin ETP provides investors, “a simple, secure and cost-efficient way to gain exposure to Bitcoin while utilising the best of traditional financial infrastructure and product structuring.” Under the WBTC ticker, it is listed at a total expense ratio of 0.95%.

German Bundestag Approves New Law So Banks Can Sell And Custody Bitcoin

German banks will begin to offer the sale and storage of cryptocurrencies under new legislation. The banks had been barred from offering direct access to crypto assets.

The new law, which was written in the fourth EU Money Laundering Directive, rewrites this starting in 2020. Reported by Handelsblatt on Wednesday, the German federal parliament, the Bundestag, passed the bill, which will likely be signed by the nation’s sixteen states.

How Bad is Bitcoin Mining for the Environment? New Research Suggests Not So Bad.

Bitcoin mining emissions were on par with Estonia, suggesting that the climate change impact of the first digital asset is less than previously reported. Furthermore, the research seems to suggest that where Bitcoin is mined contributes to how much carbon Bitcoin emits. With so much of the mining being done in China, one might wonder if that country’s infrastructure is more to blame than Bitcoin.

Bitcoin Price Falls to Lowest Level Since May

The Bitcoin price fell to $6,558.14 on Monday before rebounding on Tuesday. Now at its lowest level since May, Bitcoin has lost $3,000 in value one month after China cracked down on businesses involved in cryptocurrency operations. Bitcoin is currently trading at $7,222.12.

Bitcoin increased in price to $10,000 last month after Chinese President Xi Jinping spoke highly of blockchain technology, though there were no indications he included cryptocurrencies in that sentiment.

Here’s Why Bitcoin Hasn’t Been Regulated Into Oblivion, According to Facebook’s Calibre Head

David Marcus is leading up Calibre, Facebook’s cryptocurrency project. As reported by CNBC, he said Wednesday that Bitcoin is digital gold, and not a good currency for transactions.

“I don’t think of Bitcoin as a currency,” Marcus told an audience at the New York Times DealBook Conference in New York. “It’s actually not a great medium of exchange because of its volatility. I see it as digital gold.”

Chinese Bitcoin Miners Get Reprieve from CCP

China’s National Development and Reform Commission (NDRC) has removed crypto mining activities as an unwanted industry from its Industrial Structure Adjustment Guidance Catalog.

China has long been a mining leader in the crypto industry. As a world leader in computer hardware generally, the country was in a unique position to take lead the way when it came to mining bitcoin and other cryptocurrencies. As in most hardware-intensive industries, the lion’s share of cryptocurrency mining hardware comes from China.

Where’s All The Institutional Demand for Bitcoin Futures?

Bakkt futures and custodial exchange traded 50 BTC (~$400,000) in daily futures contracts during its second week of trading, a significant decline from its opening week, as reported by WSJ.

$5.8 million was traded on Bakkt, which was created by the Intercontinental Exchange, during its first week. The following week traders moved but $2 million. That is just $400,000 daily trading volume.

Centrals Banks Issuing Digital Currency is Inevitable, says Federal Reserve President

Philadelphia Federal Reserve Bank President Patrick Harker said on Wednesday it is “inevitable” that central banks will issue digital currency. He also said the United States should not be the nation to lead such a move. He had been asked about the Fed’s creation of “FedNow,” its own real-time payments system. The comments were first reported by Reuters.

“Frankly I don’t think we should be the first mover as a nation to do this,” Harker said at a St. Louis community banking conference. He noted the dollar’s status as world reserve currency and underscored the need for experimentation and tests when it comes to such technology.

David Wachsman Discusses Founding Global Blockchain PR Agency

When he founded Wachsman, a blockchain-focused professional services agency based in Manhattan, CEO David Wachsman didn’t know what to expect. “I had absolutely no idea,” he told me. “Anyone who would say they had a vision that it would look like this – well, they would be insane or lying. What I knew was that the bitcoin and blockchain space had a lot of brilliant people in it.” He calls his decision to found Wachsman the best decision he ever made.

The Gap Between Cryptocurrency and Banking is Shrinking

The gap between cryptocurrency and the banking industry is shrinking.

For instance, Bitwala, a German crypto banking startup, has begun rolling out their mobile banking app. Users who own an Android or iOS device can begin experimenting with this new functionality. The services are available across the entire European Economic Area. Clients in 31 countries can obtain a German bank account which includes a Bitcoin wallet and trading support. The creation of an account takes just minutes, according to the company. This would make it on par with opening a traditional bank account in one’s own country.