Day: December 16, 2020

What Is Proof-of-Work?

Proof-of-work is the algorithm that secures many cryptocurrencies, including Bitcoin and Ethereum. Most digital currencies have a central entity or leader keeping track of every user and how much money they have. But there’s no such leader in charge of cryptocurrencies like Bitcoin. Proof-of-work is needed to make the online currency work without a company or government running the show. More specifically proof-of-work solves the “double-spending problem,” which is trickier to solve without a leader in charge. If users can double-spend their coins, this inflates the overall supply, debasing everyone…

The $20,000 Bitcoin special, Dec. 9–16

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Finance Redefined is Cointelegraph’s DeFi-centric newsletter, delivered to subscribers every Wednesday. Today the crypto world is celebrating Bitcoin’s new all-time high. We did it guys! We’re back to $20,000 after three grueling years. So for this reason, this will be a bit of a Bitcoin-themed newsletter. How is Bitcoin related to DeFi, you ask? Well, for one thing, DeFi’s total value locked has a delta of about 0.2 to Bitcoin’s price. This means that for each 1% that BTC price goes higher or lower, DeFi TVL changes by 0.2%. BTC…

Bitcoin over $20k: Bulls and more bulls

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Bitcoin (BTC) has attracted a lot of proponents this year, with many folks expressing positive market sentiment following the asset’s recent rise to $20,000 and beyond. Not everyone is overly bullish though. Peter Brandt, a long-time traditional market trader and chartist, said Bitcoin is bullish, but surpassing $20,000 is nothing groundbreaking as far as the charts are concerned. “New highs are always a good indicator of healthy bull trend, but other than that the new highs mean very little of technical significance,” Brandt tweeted on Wednesday. Big-even price levels sometimes…

Bitcoin Passes $21,000 as Jaw-Dropping Rally Continues

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Bitcoin bulls have taken over the crypto market after weeks of consolidation. The leading cryptocurrency broke past $20,000 a number of hours ago, pushing past this key technical level for the first time. The cryptocurrency now trades for $21,200 after pushing even higher. Bitcoin is up $1,800 during this trading session (since the daily candle close as per TradingView). This move higher comes amid positive fundamental trends for Bitcoin. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Passes $21,000 This morning, the CME revealed that…

GDX -GDXJ – GOLD MINING STOCKS | THE TURNING POINT FOR A BIG MOVE UP | POWERFUL SLINGSHOT PATTERN

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io GDX- GDX- Gold Mining Stock Update FREE Trading Course: Learn My Most Powerful Trading Strategies And Techniques For The Last 16 Years In My Brand New Breakthrough Trading Course: Customer Notice –Past performance – Future performance Important when trading Silver and gold, GDX, GDXJ, SIL, SILJ, and mining stocks. The past of this product is not and should not be taken as an indication of future performance. Caution should be exercised in assessing past performance. This product, like all other financial products,…

Bitcoin Fractal Found Resembling Past Local Tops, But More Upside Is Imminent

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Bitcoin today smashed above $20,000 and recaptured mainstream media headlines everywhere. FOMO is now full steam, and there’s no telling where the cryptocurrency might stop – unless a fractal forming plays out exactly as it has in past instances of the repeating pattern. Bulls need to fear not, however, as the same fractal suggests that after a meager correction, more upside is imminent. Bitcoin Fractal Discovered That Suggests Any Downside Ahead Will Be Limited Bitcoin above $20,000 is no longer something crypto holders hope for but is a reality starting…

‘Be my Santa, please’ — Chainlink user offers $13K reward to fix $50K mistake

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According to a Github post made today, user dawidkabani13 claims to have accidentally sent 4,005 Chainlink (LINK) — $53,226 at the time of publication — to an Aavegotchi (GHST) smart contract on the Ethereum blockchain, which does not support operations for the token. The user said the contract is immutable — meaning his funds likely can’t be recovered. Even so, he is offering a 1,000 LINK reward to anyone willing to help. At time of publication, this reward would be worth approximately $13K. “I’m just recovering from a terrible loss,…

BITCOIN neues ALL-TIME-HIGH! Bleibt das aber so?

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Record $7.9B Bitcoin futures open interest shows bears are watching BTC price

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Today Bitcoin (BTC) price blasted through the $20,000 level and in the process, a record $7.9 billion in futures open interest was set. Although the price increased by 74% over the past two months, the total accumulated short-seller liquidations amounted to $4.3 billion, which is lower than the $4.8 billion from longs. BTC futures aggregate open interest. Source: Bybt.com As shown in the chart above, the futures aggregate open interest increased by 90% over the past two months. Thus, signaling that investors are increasing their positions, which in turn allows…