Day: January 3, 2020

MARKETS DAILY: Bitcoin Bouncing After US Airstrike in Iraq

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Bitcoin is bouncing with geopolitical tensions heating up following U.S. confirmation of a high-profile drone strike in Iraq. Then, we’ll talk “Proof of Keys Day” in the year 2020 and more. Tune in as CoinDesk podcasts editor Adam B. Levine and senior markets reporter Brad Keoun run down recent action, track interesting longer-term trends and highlight some of the most important crypto industry developments of the day. No time to listen? Scroll down for the transcript with full links. Having trouble with the embedded player? You can download the MP3…

Bitmain Co-Founder Initiates Legal Fight to Return to Control Over Company

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Co-founder of crypto mining giant Bitmain, Micree Zhan Ketuan, has initiated court proceedings against the company shareholders in a bid to restores his voting control of the firm. As BNN Bloomberg reported on Jan. 3, Zhan asked a Cayman Islands court to discredit Bitmain’s shareholders’ decision to convert the mining company’s Class B shares to one vote per share, while previously each Class B share had come with ten votes. As such, the shareholders greatly reduced Zhan’s influence over the company. According to a 2018 initial public offering prospectus, Zhan…

Stanford Prof Darrell Duffie on Our Big Stablecoin Future

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This post is part of CoinDesk’s 2019 Year in Review, a collection of 100 op-eds, interviews and takes on the state of blockchain and the world. Darrell Duffie is a professor of finance at Stanford University. Darrell Duffie is on the faculty of Stanford University’s Graduate School of Business, where he teaches and researches financial market design. Fulfilling the academic adage “publish or perish,” Duffie writes a lot. His work spans from modeling financial ecosystems to questioning the credibility of LIBOR (a sometimes-manipulated benchmark for setting interest rates on loans).…

Bitcoin Back Above $7K as a Higher Low Can Spark an Explosive Move

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Bitcoin (BTC) bounced back from an early morning sell-off, reaching highs for the day of $7,375, a swing of 7.5% from the lows of $6,854. Other major cryptocurrencies also made similar moves in price, with Ether (ETH) regaining $130 having traded as low as $125.50 and XRP reclaiming $0.19 having previously traded at $0.185. Bitcoin dominance remains above 68% and looks like it’s on its way to grab 70% of the market share of the total cryptocurrency market capitalization. Cryptocurrency market 24-hour view. Source: Coin360 Bitcoin Dominance Chart. Source: Coin…

Number of Blockchain Companies in Israel Grew by Over 30% in 2019

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In Israel, the number of blockchain and crypto-related companies increased by 32% in 2019, according to a report from the Israeli Bitcoin Association published on Dec. 30. The report revealed that there were 150 active companies in the field in 2019, while at the end of 2018, the number was 113. Out of the 113 companies, only 63 continue to operate today, with the information about the rest of them unavailable. The Association suggested this is because those companies did not survive the past year. Other related statistics Although the…

A Deep Dive Into Satoshi’s 11-Year Old Bitcoin Genesis Block

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11 years ago today, Satoshi Nakamoto launched the Bitcoin network at approximately 18:15:05 UTC and the world hasn’t been the same since. The Bitcoin blockchain came to life on January 3, 2009, and so far, more than 600,000 blocks have been mined into existence. Nakamoto’s genesis block is special and the hardcoded block has a few unique characteristics compared to the rest of the chain of blocks that followed. Also Read: BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed The Genesis Block This week the cryptocurrency community…

A Deep Dive Into Satoshi’s 11-Year Old Bitcoin Genesis Block

boss

11 years ago today, Satoshi Nakamoto launched the Bitcoin network at approximately 18:15:05 UTC and the world hasn’t been the same since. The Bitcoin blockchain came to life on January 3, 2009, and so far, more than 600,000 blocks have been mined into existence. Nakamoto’s genesis block is special and the hardcoded block has a few unique characteristics compared to the rest of the chain of blocks that followed. Also Read: BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed The Genesis Block This week the cryptocurrency community…

11 Years to the Completion of Bitcoin Network’s Genesis Block, BTC Surges 2%

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Today January 3, 2020, marks the completion of 11 years since Bitcoin founder Satoshi Nakamoto created the Genesis Block on the Bitcoin network. Also called ‘Block 0’, the Genesis Block was the first-ever block available on the Bitcoin blockchain. Six days later on January 9, 2009, Satoshi Nakamoto released the first Bitcoin software client. Thus, the crypto community often celebrates January 9 as the birthday of Bitcoin when Block 1 was mined. Although the usual block time on the Bitcoin network is 10 minutes, Block 1 came six days after…

11 Years to the Completion of Bitcoin Network’s Genesis Block, BTC Surges 2%

boss

Today January 3, 2020, marks the completion of 11 years since Bitcoin founder Satoshi Nakamoto created the Genesis Block on the Bitcoin network. Also called ‘Block 0’, the Genesis Block was the first-ever block available on the Bitcoin blockchain. Six days later on January 9, 2009, Satoshi Nakamoto released the first Bitcoin software client. Thus, the crypto community often celebrates January 9 as the birthday of Bitcoin when Block 1 was mined. Although the usual block time on the Bitcoin network is 10 minutes, Block 1 came six days after…

US Citizen Indicted for Narcotics Distribution in Exchange for Bitcoin

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A United States citizen has been charged with heroin and methamphetamine distribution in exchange for Bitcoin (BTC). According to a Jan. 3 press release published by the U.S. Attorney’s Office for the Eastern District of New York, Joanna De Alba allegedly promoted and sold illegal narcotics on a dark web marketplace dubbed the “Wall Street Market,” between June 2018 and May 2019.  The official release notes:  “Defendant Joanna De Alba, a U.S. citizen, will be arraigned this afternoon in federal court in Brooklyn on an indictment charging her with conspiring…