A growing precision in the amount of decimals for Bitcoin (BTC) points to decreasing usage as a unit of account. This is one of the conclusions of a Jan. 27 report by BitMEX Research, which analyzed transaction outputs for the past decade. The report evaluated a total of 1.3 billion outputs, amounting to 5.4 billion BTC worth $12 trillion. Each transaction was categorized by its degree of decimal precision — what is the last non-zero value in a payment. Over 70% of Bitcoin outputs currently use the highest degree of…
Month: January 2020
Bitcoin Price Is Trapped in Narrow Ranges after Volatile Week
Bitcoin, which is the largest digital asset by market capitalization, settled past the price level at $8,600 after a pullback to a price level of $8,217 on January 24. At the hour of composing, the Bitcoin price was trending on the level at $8,712 mainly unaltered from the start of the day. The digital asset market on Monday showed a trend in the bullish bias triangle. The Saturday bears did not lead to much movement, and several altcoins moved away from support levels and attempted recovery. The market capitalization of…
Major Swiss Banking Firm Julius Baer Launches Services for Cryptocurrencies
Major Swiss private banking and wealth management group Julius Baer has launched a digital assets trading and custodial service via a partnership with regulated crypto-specialist Seba. Julius Baer announced its new digital assets offering on Jan. 21, the result of its 2018 minority equity stake acquisition and later partnership with crypto startup Seba Bank AG in February 2019. Seba, which was founded in April 2018 by former UBS bankers, was granted a securities dealer and banking license by the Swiss Financial Market Supervisory Authority, known as FINMA, in August 2019.…
Historically Accurate Bitcoin Price Indicator Just Signaled Start to a Long-Term Bull Market
A historically accurate bitcoin price indicator has just flipped its market bias to bullish after four months. Dubbed as Guppy Multiple Moving Average, or Guppy, the technical indicator identifies changing trends and potential price breakouts by adjoining an asset’s long and short term moving averages. It has long served as a leading barometer for determining bitcoin’s next market sentiment. For instance, when Guppy first turned green in April 2019, the move prompted bitcoin to register a supersonic price rally wherein it swelled by 235 percent. Similarly, when Guppy switched back…
Court Documents Reveal More Possible Investors in Telegram’s $1.7B ICO
Some big names that may have invested in Telegram’s token sale are surfacing in court documents as the company fights a case brought by the U.S. Securities and Exchange Commission. The list includes some prominent individuals as well as investment firms. One of them, a former board member of Bitcoin Foundation and a partner of Ribbit Capital Micky Malka, is mentioned in the deposition of Telegram CEO Pavel Durov. Asked if Telegram knew which of its investors could be a validator in TON proof-of-stake blockchain, Durov said: “We didn’t put…
Bitcoin Gold Blockchain Hit by 51% Attack Leading to $70K Double Spend
The Bitcoin Gold (BTG) blockchain has suffered a 51% attack resulting in over $70,000 worth of BTG being double spent. According to a GitHub post by James Lovejoy, a researcher at MIT’s Digital Currency Initiative, the hard-fork of Bitcoin was hit by two deep reorganizations of over 10 blocks on Jan. 23 and 24. A 51% attack is a situation where a single entity or group controls over half of the hashpower securing a blockchain. This then allows control over confirmation of new transactions, and the power to reverse completed…
Bitcoin Eyes $8.8K After Largely Erasing Last Week’s Dip
Bitcoin’s recent pullback looks to have ended. Now prices could challenge a crucial price hurdle near $8,800. Source
5 Online Casinos That Accept Bitcoin Cash
Digital cash was the original use case for bitcoin, and it remains the primary one for bitcoin cash (BCH) today. The ability to send funds anywhere in the world quickly and cheaply has made bitcoin cash a popular choice for online casino players. There are scores of gaming sites where you can deposit BCH and other cryptos and then withdraw your winnings in the same manner. Here’s a snapshot of what these crypto-friendly sites have to offer. Also read: How to Create Custom SLP Tokens With the Bitcoin.com Mint Mintdice…
Bitcoin, Ether, and XRP Weekly Market Update January 27, 2020
The total crypto market cap added $1.1 billion to its value for the last seven days and now stands at $238.7 billion. The top 10 currencies showed mixed results for the same time frame with Bitcoin Cash (BCH) and Cardano (ADA) gaining 4.7 percent while XRP lost 3.3. By the time of writing bitcoin (BTC) is trading at $8,614 while ether (ETH) moved up to $166. Ripple’s XRP is trading at $0.227. BTC/USD Bitcoin lost 4 percent of its value in just 1 hour of trading on Sunday, January 19,…
Over 700 Blockchain Firms Founded This Month in China, Over 26,000 In Operation
Chinese entrepreneurs registered 714 blockchain firms in China this month, resulting in a total of 26,089 such companies operating in the country. According to cryptocurrency data firm LongHash on Jan. 26, the total number of blockchain firms registered in China is 79,556, while 57,257 Chinese blockchain firms also lost their legal status or had their licenses revoked. From 2009–17, the annual number of founded blockchain firms remained relatively static, before a notable jump upward in 2018. While it remains to be seen whether funding remains stable for the remaining 11…