Tag: Bitcoins

Why the crypto market crash may play in Bitcoin’s favour

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Natalie Brunell, the host of Coin Stories podcast, thinks that the recent incidents involving Terra (LUNA, now rebranded LUNC) and Celsius (CELH) and the following market sell-off will lead to regulatory action that will likely favor Bitcoin (BTC) over the rest of cryptocurrency.  “I’m going to be watching for regulation developments, just signifying that Bitcoin is a digital property and that maybe there’s more fair accounting that can be done to allow institutions to invest,” she said in her latest interview with Cointelegraph. “And the other cryptocurrencies, I think will…

Bitcoin’s Sinking Price Pushes Hashrate Below 200 Exahash, Mining Difficulty Expected to Slide 2.8% Lower – Mining Bitcoin News

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While bitcoin’s price dropped below the $20K region, the network’s hashrate slipped under the 200 exahash per second (EH/s) region to 167 EH/s on June 18. At the time of writing, the hashrate is coasting along at 184 EH/s after a slight rebound following the drop. With the price per bitcoin lower this week and the hashrate dropping, bitcoin miners may get a break in four days as the network’s difficulty adjustment algorithm (DAA) is expected to slide 2.8% lower than today’s current mining difficulty metric. Bitcoin’s Hashrate Slides Lower…

“Bitcoin’s Correlation With The S&P 500 Reached” ATH, Opportunity Knocks

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This counterintuitive thinking by ARK Investment is the reason why we subscribe to their  “The Bitcoin Monthly” report. While everybody complains about bitcoin’s dance in unison with the stock market, they keep it cool and even frame it as an opportunity. Which it is. It’s not ideal that traders treat bitcoin like a risk-on asset, but there’s certainly logic behind it. Short-sighted people see bitcoin as an investment vehicle and little else. Excited to introduce the first official issue of “The Bitcoin Monthly” Starting this month, ARK will be publishing…

Bitcoin’s Hashrate Hits an All-Time High Nearing 300 Exahash per Second – Mining Bitcoin News

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While Bitcoin’s mining difficulty was expected to decrease two days ago on June 8, instead the difficulty increased by 1.29% on Wednesday. On the same day, at block height 739,928, Bitcoin’s hashrate tapped an all-time high (ATH) reaching 292.02 exahash per second (EH/s). Bitcoin’s Blockchain Secured by Close to Three Hundred Quintillion Hashes per Second This week, the Bitcoin network has never been more powerful as the protocol’s computational processing power reached a lifetime high on Wednesday. In fact, at 292.02 EH/s the network neared the 300 EH/s region for…

Bitcoin’s real energy use questioned as Ethereum founder criticizes BTC

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The ever-raging debate around Bitcoin’s energy consumption has been re-ignited, with founding member of Ethereum Anthony Donofrio claiming that Bitcoin is using “way too much” energy.  According to figures from Digiconomist, Bitcoin (BTC) currently uses 0.82% of the world’s power while Ethereum (ETH) uses 0.34%. Ethereum researcher Justin Drake posted the figures to his 56,000 followers that Donofrio retweeted, stating: If bitcoin is really using nearly 1% of the energy on earth that is way too much for a pet rock. https://t.co/CDL32jk5FF — Texture, PhD (@iamtexture) June 9, 2022 Ethereum…

Now Decoupled From Terra, “Bitcoin’s Selling Pressure Should Subside”

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The Terra / Luna / UST collapse keeps on generating headlines. This time, we’ll use the data in ARK’s “The Bitcoin Monthly” report to establish its impact on the bitcoin ecosystem. Remember that the non-profit organization LFG, AKA the Luna Foundation Guard, accumulated BTC to defend UST’s peg to the dollar. In a then-delated May interview, Terra’s Do Kwon said that they were trying to get to $1B in BTC so that “besides Satoshi, we will be the largest single holder of Bitcoin in the world.” Related Reading | Terra…

New Research Unearths Insights Into Satoshi and Bitcoin’s Early Days

On one hand, their takeaway clashes with the stereotype (and perhaps, in some cases, self-image) of Bitcoin users, particularly early adopters, as cold-blooded individualists: “Rather than relying exclusively on a decentralized, trustless network of anonymous actors, Bitcoin depended on altruistic behavior by a group of anonymous agents,” the paper states. Source

Cathie Wood’s Ark Invest: Bitcoin’s Fundamentals Remain Strong as Short Term Holders Show Signs of Capitulation – Report

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Ark Invest’s “Bitcoin Monthly” May Report shows fundamentals are stronger than ever for Bitcoin. According to the report, 66% of Bitcoin’s supply has not moved in over a year. Short-term holders appear to have already capitulated, with their positions dropping 35% over breakeven price. The impact of Terra’s UST & Luna collapse on Bitcoin appears to be contained.  Ark Invest’s “Bitcoin Monthly” report authored by CEO Cathie Wood and other ARK Invest analysts provides a crypto market summary and details of relevant on-chain activity. According to the report, ‘hodlers’ are…

Bitcoin’s Short Term Volatility is Irrelevant Once You Understand its Fundamentals, Says MicroStrategy’s Michael Saylor

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Summary: MicroStrategy’s CEO has pointed out that Bitcoin’s short-term volatility is irrelevant once you understand its fundamentals. According to Mr. Saylor, Bitcoin is the most certain thing in a very uncertain world. MicroStrategy CEO and Bitcoin perma-bull Michael Saylor has said that Bitcoin’s near-term volatility should not be a concern. According to Mr. Saylor, the ongoing volatility in the crypto markets is irrelevant once ‘you understand the fundaments of the leading cryptocurrency and how difficult it would be to create something better.’ Bitcoin is More Certain than Stock and Even Property…