Day: May 6, 2019

Bitcoin Moves Towards $6,000 Mark as Momentum Remains Positive Despite “Untethered” Tether

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The price of bitcoin rallied by over nine percent week-on-week despite the revelations that market-leading stablecoin USDT is not fully backed by US dollars as we were made to believe. On Sunday evening, BTC/USD traded at $5,785.  The Big Stories At the start of last week, Tether finally admitted to what the market has rumored for years. A company lawyer stated that the stablecoin tether (USDT) is not backed one-to-one by dollars in a bank account. Only 74 percent of tether in circulation is actually backed by US dollars. Given…

Gold Futures Projects Bitcoin Price 350% Higher in Roughly 378 Days

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There is a strong possibility that the bitcoin price would surge by 350 percent in roughly 378 days, according to past trend behavior noted in the Gold Futures market. Cryptocurrency management firm Trading Shot found striking similarities between the Gold Futures (COMEX) and the Bitcoin spot market. The firm noted that bitcoin’s 2017 surge towards its historical high at $20,000 looked very similar to the Gold Futures’ bullish performance between July 1976 and January 1980. Moreover, their expected bearish corrections also trended hand-in-hand, as shown in the chart below. Gold…

60% of All Bitcoin Full-Nodes Are Still Vulnerable to Inflation Bug

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According to bitcoin (BTC) node stats reported on the website of bitcoin core developer Luke Dashjr, 60.22% of the coin’s full-nodes are running software still vulnerable to the inflation bug at press time. According to the reported data, the software running on 60,101 bitcoin full-nodes is vulnerable to the CVE-2018-17144 bug. As Cointelegraph reported at the end of September last year, the bug allows malicious miners to artificially inflate bitcoin’s supply via a simple type of double input. According to a Cointelegraph analysis, at the time — likely because of the…

Don’t Trust Bitcoin Mixers and Other Opsec Lessons From the Darknet

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When darknet markets are shut down these days, the arrests don’t generate much fanfare. There’s a day of press at best, and then the media moves on to bigger stories, leaving the fate of the DNM operators unreported as their case grinds through the courts. This is a shame, as the indictments for the accused reveal valuable insights into how law enforcement caught their quarry, providing opsec lessons that every bitcoiner should take to heart. Also read: Europol Claims New Scalps – Chaos as Darknet Markets are Downed Opsec Lives…

Fidelity to Cater to Institutional Appetite for Bitcoin “Within a Few Weeks”

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Multi-trillion asset management firm Fidelity Investments could launch its cryptocurrency trading service very soon. Citing sources in the know, Bloomberg reported on May 6, 2019, that the Wall Street juggernaut could launch its bitcoin trading service “within a few weeks.” Aiming for the Big Shots Fidelity’s cryptocurrency trading service will be targeted at institutional investors, a person close to the matter told Bloomberg. This would essentially set it apart from the likes of E*Trade Financial Corp. and Robinhood whose target market also includes small-scale and retail investors. Fidelity spokeswoman Arlene…

Single Address Behind More Than 50% of Bitcoin Cash Transactions: Report

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A single address has been responsible for more than half of the bitcoin cash (BCH) transactions in the past month, according to a tweet by @IamNomad on May 5. According to the Bitcoin Cash Block Explorer, the mystery account has made more than 587,000 transactions since it became operational on April 8 of this year. Many of the transactions are for fractional amounts of BCH and they are made with regularity, with three to four new transactions emerging per second. Overall, the address has received $22,763.06 (80.981 BCH) at press time and has…

Facebook Acquires ‘Libra’ Trademark to Work on Its Secretive Cryptocurrency

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Social media giant Facebook acquired the rights to the “Libra” trademark for its secretive cryptocurrency project, crypto news website The Block reported on May 3. The Block claims that a source familiar with the matter confirmed that Facebook is recruiting financial firms to develop its own crypto and that the project’s codename and product name is Libra. Moreover, documents released by the United States Patent and Trademark Office and filed in June 2018 reveal that the company has evidently acquired the rights to the “Libra” trademark. More precisely, while the…

Craig Wright’s Motion to Seal Bitcoin Addresses Denied

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In a widely expected move, the District court of South Florida has dismissed Craig Wright’s motion to seal his Bitcoin holdings and addresses, May 03, 2019. If Wright doesn’t comply, the court indistinctly said there are other ways to obtain this information, methods of which Kleiman’s estate will be authorized to use. Wright’s Motion to Dismiss Denied After Craig Wright’s newest project, Bitcoin Satoshi’s Vision (BSV) was delisted from major exchanges, a district court denied Craig Wright’s motion to seal his Bitcoin holdings. The case has took a turn against…

Trump Grenade Triggers Massive Stocks Sell; Bitcoin Price Slumps to $5,600

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By CCN.com: In the last 24 hours, following a strong week, the bitcoin price slipped by around $157, dropping by nearly two percent against the U.S. dollar amidst an insense stocks sell-off. The Dow Jones is set to open with a 500-point drop after U.S. President Donald Trump announced the imposition of additional tariffs on $200 billion worth of Chinese goods, leading both the U.S. and Chinese stock markets to plunge. $4 billion were wiped out of the crypto market in the past 24 hours (source: coinmarketcap.com) A slight correction…

Bitcoin Falls Under $5,700 as Stock Market Sees Downturn

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Monday, May 5 — most of the top 20 cryptocurrencies are reporting moderate losses on the day by press time, as bitcoin (BTC) has fallen under the $5,700 mark. Market visualization courtesy of Coin360 Bitcoin is down over 1.5% on the day, trading at $5,692 at press time, according to CoinMarketCap. Looking at its weekly chart, the coin is up over 8.2%. Bitcoin 7-day price chart. Source: CoinMarketCap As Cointelegraph reported earlier today, United States $7 trillion investment firm Fidelity will reportedly roll out bitcoin trading for institutional clients in the…