Day: December 2, 2019

Vertcoin 51% Attack ‘Motive Uncertain’ as Hackers Lose up to $4,000

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Unknown hackers have attempted to launch a second 51% attack on Vertcoin (VTC) but ended up paying for the privilege out of their own pockets. As Vertcoin’s lead maintainer James Lovejoy revealed in a report on the attack on Dec. 2, a malicious entity targeted cryptocurrency exchange Bittrex in order to manipulate the Vertcoin blockchain. Hackers paid at least $440 to attack VTC Vertcoin forked off from Bitcoin (BTC) in 2014 and experienced a major attack in December last year, during which hackers stole funds worth $100,000.  This time, however,…

Bitcoin, Ether, and XRP Weekly Market Update December 2, 2019

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Reading Time: 4 minutes by Georgi Hristov on December 2, 2019&nbspAltcoins, Bitcoin, Cryptocurrency Market Outlook, Ethereum, News, News Digest, Price Analysis, Price pages, Ripple, Stablecoins, Top Coins For The Week The total crypto market cap added $20.2 billion of its value during the last seven days and now stands at $202.4 billion. The top 10 currencies are all in green for the same time frame with EOS (EOS) and Cardano (ADA) being the best performers with 13.7 and 10.5 percent of gains respectively. By the time of writing bitcoin (BTC)…

‘Hodlers Are Insane’ — 64% of Bitcoin Supply Has Not Moved Since 2018

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Over 60% of the total Bitcoin (BTC) in circulation has not left its wallet in more than a year, highlighting demand among investors.  That was the conclusion of analyst Rhythm, who uploaded statistics about Bitcoin network activity on Dec. 2.  BTC investors shun risk and short-term gains Of the roughly 18.08 million Bitcoins which have been mined, 11.58 million — or 64% of the supply — has stayed in the same wallet since 2018.  The figure is striking as during that time, BTC/USD expanded from $3,100 last December to 2019…

Bitcoin Price Sits on $7K, Gathers Steam for Upward Move

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Bitcoin Price Sits on $7K, Gathers Steam for Upward Move December 2, 2019 by Ramiro Burgos After taking another disappointing hit last week, the bitcoin price has settled again around the $7,000 USD mark. What sort of prompt could move it up or down from there? Read our weekly technical analysis to find out. Also read: Bitcoin Price Is Now Below $7K – What Does It Mean? Bitcoin Price Technical Analysis Long-Term Analysis The bitcoin price has gone lateral again, recognizing the ascending curve of a Rounded Bottom Formation at…

Guy Who ‘Lost’ 4 BTC on Lightning Network Has Recovered Most Funds

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One month on, a Redditor who “lost” 4 Bitcoin (BTC) on the Lightning Network has published advice based on his experience. In a thread posted to the r/Bitcoin community on Dec. 1, Redditor ZipoTm revealed that the Lightning community had given him “huge support” by helping him to save his coins, with most of them now recovered. Don’t Panic, WAIT As reported, the Lightning Network is a second-layer solution to Bitcoin’s scalability limitations, which works by opening payment channels between users that keep the majority of transactions off-chain, turning to…

Is Technical Analysis Prophetic or Preposterous? We Asked 7 Crypto Traders

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With little else to go on, traders put their faith in the charts. They say to themselves, and anyone else who will listen, that classical technical analysis would tell us right now that the price of bitcoin is about to break a lot lower — like, in the next week or so, because this candle chart looks like this, and that candle chart looks like that; in other words, you should wait a little longer before you go back into your accumulation phase. Even Big Chonis acknowledges there are limits…

Halving Will Be ‘Non-Event’ for BTC Price: Morgan Creek Digital Exec

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Bitcoin’s (BTC) 2020 block reward halving continues to generate mixed opinions regarding price performance, as one analyst suggests its impact will be next to nothing. In a tweet on Dec. 1, Jason Williams, co-founder at digital asset fund Morgan Creek Digital, said that unlike many others, he believed markets would not move as a result of the halving next May. Williams: BTC halving will be “non-event” “Bitcoin halving in May 2020 won’t do anything to the price. It will be a non-event,” he summarized. Bitcoin’s block reward halving will reduce…

Data Scientist Uses Deep Learning to Predict BTC Price in Real-Time

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A data scientist at India’s prestigious Vellore Institute of Technology has outlined a method for how to purportedly predict crypto prices in real-time using a Long Short-Term Memory (LSTM) neural network. In a blog post published on Dec. 2, researcher Abinhav Sagar demonstrated a four-step process for how to use machine learning technology to forecast prices in a sector he purported is “relatively unpredictable” as compared with traditional markets.  Machine learning for crypto price prediction has been “restricted” Sagar prefaced his demonstration by noting that while machine learning has achieved…

Crypto in Africa: Opportunities and Challenges, Explained

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Advocates say there are many issues beyond currency volatility where crypto and blockchain could make a difference. Aside from remittances and currency volatility, financial inclusion is another hot-button topic in Africa. Research from the World Bank suggests that many of the world’s 1.7 billion unbanked are on the continent, while 2 in 3 adults in sub-Saharan Africa do not have access to a bank account. In some ways, Africa is better prepared for a move to crypto than other continents. Mobile money has already been a key driver in reducing…