Tag: Bitcoins

What is Bitcoin’s Lightning Network?

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Despite significant growth in recent years, the Lightning Network still faces challenges to overcome if it wants to solve bitcoin’s scalability issues. The most demanding issue is security. Because nodes on the Lightning Network are required to always be online, they become more vulnerable to attacks. And while the network aims to reduce fees incurred from processing transactions on bitcoin’s main network, it includes its own set of additional costs for opening and closing channels, along with routing fees. These are issues that will likely be solved with time, as…

Altcoins Are Encroaching On Bitcoin’s Dominance On Digital Payments

Bitcoin has dominated the digital payments space for the longest time and continues to do so. However, this dominance is on the decline as more altcoins are being chosen as the preferred digital currencies for payments. This has mainly been due to cheaper fees resulting from network congestion when the price gets too high. Instead, cryptocurrencies whose fees can range from a few cents to fractions of a cent are now favored by merchants. Altcoins Are Taking Market Share From Bitcoin Crypto payments processor BitPay recently released a report outlining…

Bitcoin’s Hashrate Taps New Lifetime High, BTC Price 20% Above Production Cost, Difficulty Nears ATH – Mining Bitcoin News

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Bitcoin’s hashrate has been riding high again as the processing power tapped another lifetime high on January 15, 2022, reaching 219.68 exahash per second (EH/s). The new record follows the previous all-time high (ATH) on the first day of the year, when the network’s hashrate tapped 219.5 EH/s. Bitcoin’s Hashrate Hits a Milestone, Analyst Discusses Miner Capitulation, Estimated Bitcoin Production Cost Bitcoin miners are dedicating a lot of SHA256 processing power to the BTC network on January 15, as the network quickly reached an ATH just after 12:00 a.m. (EST).…

After Bitcoin’s Weak Start to the Year, Analysts Now Predict Price Increase

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After a rocky start to the year, bitcoin (BTC) appears to have stabilized this week, and some analysts are predicting that prices could be set to rise. Bitcoin has added 1% since Sunday after dropping almost 12% in the first week of 2022. Compared with the first week of 2021, when bitcoin gained 15% and traded above $50,000, this week’s move looks small, but experts say the market might be turning higher now. Prices are likely to rebound from the current level around $42,000 though will remain within the $40,000-$60,000…

There’s a Reason Bitcoin’s Worth 500 Barrels of Oil: Bloomberg’s McGlone

CryptoX – Cryptocurrency Analysis and News Portal “Copper may be a good example of the low potential for a commodity supercycle, notably versus an advancing bitcoin,” McGlone wrote. “It’s not that profound to expect one of the best-performing assets of the past decade to keep outpacing the old-guard industrial metal, and we see bitcoin’s upper hand gaining endurance, and maturity, versus copper.” Original Source The post There’s a Reason Bitcoin’s Worth 500 Barrels of Oil: Bloomberg’s McGlone appeared first on CryptoX. CryptoX Portal

Anyswap, Keep3rV1, WEMIX follow Bitcoin’s move to $44K with double-digit rallies

The cryptocurrency community is back in high spirits on Jan. 12 after a majority of tokens in the top 200 flashed green following Bitcoin’s (BTC) spike to $44,000. The return of bullish momentum has come as a boon to several altcoin projects, with multiple tokens seeing gains in excess of 20%. Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Anyswap (ANY), Keep3rV1 (KP3R) and WEMIX (WEMIX). Anyswap expands its…

Bitcoin’s Options Market Trims Bearish Bias as US Inflation Report Looms

“After a quiet start to the year with options open interest coming off significantly from December, volumes started to pick up last night with several large short-dated options trading overnight,” Patrick Chu, director of institutional sales and trading at over-the-counter tech platform Paradigm, told CoinDesk in a Telegram chat. “Over Paradigm, we saw several large interests trading with the end of January topside [Jan expiry calls] in demand.” Source

Bitcoin’s Near 40% Slide Weighs on Crypto Stocks While Coinbase Outperforms

Argo Blockchain (ARBK), the only crypto miner listed on the London Stock Exchange (LSE), has declined by 45%, while Canadian crypto miners Hive Blockchain (HIVE) and Hut 8 Mining Corp (HUT) have slipped 52% and 59%, respectively. Toronto-listed crypto exchange Voyager Digital (VYGVF) is down 50% alongside a 45% slide in shares in MicroStrategy (MSTR), a business-intelligence software company that holds 122,478 BTC, worth nearly $6 billion, on its balance sheet. Source

Bitcoin’s Hashrate Slides 15% in 10 Days, Price and Difficulty Puts Pressure on BTC Miners – Mining Bitcoin News

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The price of bitcoin has been on a long losing streak since November 10, 2021, when the leading crypto asset tapped an all-time high at $69K per unit. During the last two weeks, bitcoin has shed more than 19% in value, and the network’s hashrate has dropped from over 200 exahash per second (EH/s) to 174 EH/s losing roughly 15% in ten days. Civil Unrest in Kazakhstan Leads to Hashrate Loss Speculation, Kazakhstan’s Bitcoin Miners Say Issues Did Not Affect Them This week the civil unrest in Kazakhstan caused a…