We reported last week about the latest findings of Sergio Dermain Lerner, who is known for his discovery of the so-called “Patoshi pattern”. His latest research suggested that Satoshi Nakamoto likely used a single pc to mine approximately 1.1 million Bitcoin (BTC). However, it appears that there was something of even greater importance lost in the excitement about this discovery. If Lerner’s latest findings are accurate, it would put an end to seven years worth of speculation concerning the meaning behind the mysterious pattern. Patoshi pattern. Source: Sergio Darmain Lerner’s…
Month: August 2020
Ethereum Aims for $500 as On-Chain Metrics Show Little to No Resistance Ahead
Since the beginning of the month, Ethereum has been consolidating within a narrow range. Its price has been mostly contained between the $372 support and the $445 resistance level, without providing any clear signals of where it is headed next. The stagnant price action caused the Bollinger bands to squeeze within the same time frame, indicating that a period of high volatility is underway. Only a daily candlestick close above $445 or below $372 will determine the direction of Ether’s trend. Until then, this price range can be considered a reasonable…
On quantitative easing, crypto and modern monetary theory
With the COVID-19 crisis showing no signs of abating in the United States, central banks around the world have deployed financial airbags in the form of quantitative easing, and they plan to do a lot more. Modern Monetary Theory has taken center stage, and we are witnessing it in action. It’s a sight that will leave you awestruck: like witnessing the financial version of the first atomic explosion of Los Alamos and the Manhattan Project. What is going on with the world’s economy is unprecedented. We are entering completely new…
Craig Wright files another libel suit against Roger Ver after 2019 fail
Craig Wright, a self-proclaimed creator of Bitcoin (BTC), is reportedly continuing to file more defamation suits against perceived rivals, despite none of his previous attempts turning out to be successful. On Aug. 25, Wright filed a libel suit against major industry figure, Roger Ver, with the High Court of Antigua and Barbuda, industry publication CoinGeek reports. According to an official defamation claim obtained by CoinGeek, Wright is seeking legal action against Ver for publicly stating that Wright is not the true Satoshi Nakamoto — the anonymous creator of Bitcoin. The court…
Crypto has a chance to upgrade the legacy financial system
If Bitcoin (BTC) was born in response to the systemic failures laid bare by one global financial crisis, then the subsequent rise of various decentralized networks can be seen as differences in opinion on the best way forward. All are in agreement that the existing financial system is broken, but are slightly at odds in terms of how to fix it. In a sense, each of these networks represents a new, if partial, vision of what could make for a better system. For instance, we’ve seen Celo leverage cryptographic tools…
Ledger CTO discusses wallet’s safety after multiple security setbacks
Ledger, one of the crypto industry’s most popular hardware wallet providers, has faced multiple difficulties in recent weeks, including a breach in the company’s customer contact database and a wallet vulnerability putting users’ Bitcoin (BTC) at risk. Are the recent events simply a summation of a few difficult weeks, or is a larger unraveling at play? Charles Guillemet, the chief technology officer of Ledger, told Cointelegraph: “As far as the database breach, an attacker got access to a portion of our e-commerce and marketing database through a third party’s API…
Institutional crypto interest hasn’t been affected by COVID-19
The coronavirus pandemic has truly been a watershed event — not just for the financial industry but for the world at large. Many had plans and goals that they wanted to achieve before the year ran out but had to stop. Companies had to file for bankruptcy, and people lost their jobs. Like every sector of the global economy, the financial sector has also suffered significantly from the effect of the pandemic. Countries have been scrambling to keep their economies afloat, while people have been looking for means to stay…
Why This Ethereum-Based DeFi Coin Is Up 30% on the Day
Both Bitcoin and Ethereum have stalled, but it seems that altcoins are once again popping off. A swath of digital assets in the top 100 have gained dozens of percent in the past 24 hours, with some managing to even double. One such digital asset outperforming the market leaders is BZRX, the native token of the bZx Protocol. That cryptocurrency is up 30% in the past 24 hours, surmounting the value of $1.00 for the first time ever. BZRX, based on Ethereum, trades at $1.11 as of this article’s writing.…
Ripple’s Garlinghouse forecasts further loss of U.S. dollar value
After what has been a crazy year in almost every sense of the word, businesses are left wondering how to proceed, Ripple Labs CEO Brad Garlinghouse said. “The pandemic is throwing so many playbooks out the window,” he posited in an Aug. 28 tweet. “Yesterday’s action flies in the face of decades of precedent,” he said, pointing toward an Aug. 27 article from the Wall Street Journal on the U.S. Federal Reserve choosing to keep interest rates low at the possible expense of higher inflation. “Signs point to further dollar debasement…
Cryptocurrency news from Japan: Aug. 23
This week’s headlines from Japan included one of country’s leaders describing Bitcoin creator Satoshi Nakamoto’s dream as meaningful, LayerX Labs collaborating with a Japanese university for blockchain research, the FINSUM blockchain conference hosts notable discussion on security tokens offerings, and the head of Monex Group saying Japan is falling behind the U.S. on STOs. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Japanese Financial Services Agency head describes Bitcoin as impactful At the end of Tokyo’s 2020 Blockchain Global Governance Conference, or BG2C,…