Tag: Bitcoins

Bitcoin’s Blockchain Growth Accelerates With Trend of Ordinal Inscriptions – Bitcoin News

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The Bitcoin blockchain has 40.49 gigabytes (GB) to go until it reaches half a terabyte (TB), and with the recent trend of Ordinal inscriptions, it’s likely to get there faster. The average block size reached a high of 2.52 megabytes (MB) on Feb. 12, 2023, but block sizes have subsided and dropped to an average of 1.634 MB by Feb. 27. Still, the blockchain grew at a rate of 0.288 GB per day, compared to the previous rate of 0.173 GB per day recorded before the Ordinal inscription trend began.…

‘Liquidity’ has most affected Bitcoin’s price in the last year, according to trader Brian Krogsgard

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Cointelegraph’s Crypto Trading Secrets podcast has published Episode 6, covering an array of content that should pique the interest of cryptocurrency traders. This episode’s guest is Brian Krogsgard, also known as Ledgerstatus on Twitter. Krogsgard is a trader and one of the co-founders of Flip.xyz, a nonfungible token (NFT) platform. He is also a podcaster in the crypto space.  Among the questions fielded during the Feb. 16 recording, host Benjamin Pirus asked Krogsgard to give his opinion on what he thinks has most impacted the price of Bitcoin (BTC) over…

Litecoin Network Adopts Ordinal Inscriptions, Following Bitcoin’s Lead – Technology Bitcoin News

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Following a growing trend of Ordinal inscriptions on the Bitcoin blockchain, the technology has been ported to the Litecoin network, and the number of onchain Litecoin inscriptions has surpassed 13,000. Software developer Anthony Guerrera made Ordinal inscriptions on the Litecoin network possible by receiving 22 Litecoin to port the technology to the proof-of-work (PoW) blockchain. Digital Collectibles Are Now Possible on Litecoin Proponents of the cryptocurrency network Litecoin (LTC) were pleased to hear that Ordinal inscriptions are now possible on the network. Software developer Anthony Guerrera accepted a challenge to…

Bitcoin’s bullish price action continues to bolster rallies in FIL, OKB, VET and RPL

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The Dow Jones Industrial Average fell for the third consecutive week but Bitcoin (BTC) price decoupled and is on track to close the week near the strong overhead resistance at $25,211. This suggests that the wider crypto market recovery is on a strong footing. After Bitcoin’s sharp rally from the lows, analysts remain divided in their opinion about the next move. Some traders believe that the current Bitcoin rally will turn down once again, but others expect the momentum to continue, indicating the start of a new bull phase. Crypto…

Court to Try 2 Russians for Stealing 86 Bitcoins From Crypto Miner – Mining Bitcoin News

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Two residents of the Russian city of Tomsk will be tried for “large-scale robbery” involving the theft of cryptocurrency worth millions of rubles from a local miner. The digital coins were stolen from the owner at gunpoint, authorities said, adding that both criminals are now in custody. Thieves Face Trial in Russia for Armed Robbery of Cryptocurrency Miner The Kirovsky Court of Tomsk will soon try two men for their attack on another resident of the Siberian city who made a living by mining cryptocurrencies. They were able to extort…

Sorting Out Bitcoin’s P/E Ratio

The highest NVT ratio for bitcoin that I found on record was 448.15 on Aug. 29, 2010. Was it overvalued? Well, BTC traded for about 6 cents at the time, and is around $22,000 now, so the relevance of this reading is a bit dubious in my opinion. What if we toss out all data before 2014? That gives a maximum NVT ratio of 98.52, which I think is more sensible. Bitcoin’s lowest NVT on record was 0.22 on Jan. 24, 2016, when BTC was trading at $403. The average…

An Ode to LocalBitcoins (and a Lesson About Maintaining Bitcoin’s Public Goods)

Before the imposition of those compliance mechanisms, LocalBitcoins was a useful tool for people to enhance their privacy on-chain. But even after, the stripped-down service helped facilitate a native bitcoin economy – the platonic ideal of which would look like alphanumeric addresses interacting with similarly pseudonymous entities relying on Bitcoin’s architecture to estable mutual “trust.” The company onboarded and verified users from 189 countries. At its peak, in 2018, some 2,400 BTC traded hands weekly. By 2021, average weekly volumes dropped below 1,000 BTC. Last week, only 283 BTC were…

How Bitcoin NFTs Might Accidentally Fix Bitcoin’s Security Budget

For those lucky enough to be unfamiliar with the politics of Crypto Twitter, you should know this has stirred up a fiery controversy. There are many Bitcoin influencer types who have staked a meaningful part of their reputations on hating NFTs – as they’re a distraction and technologically unsound – so Ordinal NFTs haven’t been a hit with them. To their credit, no matter how much crypto pluralists have bashed Bitcoin for being a pet rock project that only does peer-to-peer, borderless, censorship-resistant transactions in a decentralized manner, being very…