January 22, 2020 at 2:35 am #82769
Miners earned $5 billion in 2019, there is a drop of interest to bitcoin as the price rises, and Peter Schiff lost his coins
Miners made an estimated $5 billion in revenue during 2019
As the specialists of The Block counted. Of that figure, $4.89 billion was in the form of block rewards and the rest – some $147 million – was made via transaction fees. The calculations were made based on bitcoin’s price at the time of mining.
For comparison, in 2018 miners got $5,26 billion in revenue, and in 2017 – $3,19 billion. The block reward will be 12,5 BTC until May 2020, and will drop to 6,25 BTC after halving.
Interest to bitcoin is dropping as the price rises
Google Trends is considered as one of the main metrics of interest in cryptocurrencies among the masses. Almost all the time the number for “bitcoin” searches was growing after the price’s growth, however now the tendency is broken.
This was brought to attention by Twitter user Haejin. Since the beginning of January, BTC has risen in price by $ 2’000, and altcoin capitalization has grown by 50%, while the number of Bitcoin searches in Google has decreased.
Crypto skeptic lost access to his bitcoin wallet
Peter Schiff, CEO of Euro Pacific Capital, famous for his negative feedback about cryptocurrencies, said that he had lost access to his wallet. Interestingly, he blames the wallets software in the loss of the coins.
“I just lost all theBitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!”, -Schiff tweeted.
Crypto community suggested that the businessman simply forgot his password and does not want to admit it.January 24, 2020 at 2:19 am #85404
Pornhub added Tether, and the number of wallets with balance over 1 BTC continues to grow
Pornhub is now accepting Tether
One of the world’s largest adult sites added USDT tokens support. Pornhub blog says that it became possible thanks to cooperation with TRON, and if one chooses to pay for the website’s services in USDT, it is recommended to use TRONLink wallet.
Two months ago PayPal stopped supporting payments to Pornhub’s models, which made the platform add new payment system. Justin Sun, Tron’s CEO, said that introduction of payment in Tether is a “a brilliant way to support the victims of centralized payment platforms like PayPal”.
The number of wallets with balance over 1 BTC is growing
Glassnode company experts calculated that number of addresses with one or more bitcoins rose by 10% over 12 months. Now their number is 784’000.
According to the analysts, this key metric shows the number of retail trader. Since the beginning of 2015 this number has double which demonstrates the growing interest to cryptocurrencies.
“The steady rise is the result of accumulation by retail buyers. The rising number of addresses accumulating greater amounts of BTC is a sign that adoption as a store of value is increasing”, — the report says.January 28, 2020 at 2:37 am #90719
Digital yuan could supersede dollar, and cryptocurrency consortium created at Davos forum
Deutsche Bank: Chinese cryptocurrency could erode the dollar’s primacy
Digital currencies, which are being developed by China and India, can change the centers of “global economic strength,” according to a report by Deutsche Bank.
The authors point out that China is already developing a cryptocurrency supported by the country’s Central Bank, which can be used as a power tool.
”Companies in the country are, in fact, forced to adopt a digital yuan which will certainly erode the dollar’s primacy in the global financial market”, – Deutsche Bank experts write.
They also add that at the current rate of internet development, the number of crypto wallet owners will quadruple to 200 million by 2030.
Davos forum participants create a consortium to regulate cryptocurrencies
During the World Economic Forum in Davos, the world’s first consortium was established, whose participants will develop regulation of the crypto industry. It is to include financial institutions, members of governments, large corporations, international organizations and the crypto community.
The founders of the consortium were Klaus Schwab, chairman of the Davos Forum, Mark Carney, head of the Bank of England, Tarman Shanmugaratnam, Minister for Economic Policy Coordinator of Singapore and representatives of the central banks of Egypt and Bahrain.January 29, 2020 at 8:31 am #91942
Interest in the bitcoin halving has reached its maximum since 2016, and has dropped for IEO
Interest in bitcoin halving has reached its maximum since 2016
People’s interest in halving is growing – according to Google Trends, the number of “bitcoin halving” searches has grown to its highest level since 2016.
The last halving of the bitcoin block mining reward took place in July 2016, it was then when Google Trends recorded the largest number of related searches. Over the past two months, this figure has increased from 11% to 40%. The upcoming halving will take place in May 2020 – traders have high hopes for it, since previously bitcoin’s price surged some time after the event.
Larry Cermak: IEOs are dead
Initial exchange offerings (IEOs) return is near to zero, The Block analyst Larry Chermak points out. He analyzed the most popular platform and came to the conclusion that the IEO era has passed.
“IEOs are dead. There appears to be a clear relationship between the return and the number of days since the IEO. The average return of IEOs approaches 0% in 200 days. In other words, nearly no one wants to hold IEOs long term,” — he wrote in his twitter-account.
In Q III of 2019, 64% of projects showed positive returns; in Q IV their number dropped to 43%. Now only 23% of companies are in positive territory.February 3, 2020 at 3:34 am #92113
Due to coronavirus, ASIC deliveries from China are delayed, and litecoin surges 17% in 24 hours
Deliveries of ASIC from China are delayed due to coronavirus
Chinese manufacturers of ASIC miners have postponed delivery of equipment due to the coronavirus outbreak. All offices and plants in the country were quarantined at least until February 10, according to Zodd Zverev, the CTO of the mining pool 1Thash & 58COIN.
“Internal logistics is almost completely paralyzed in the country, deliveries of food and strategic goods to fight the virus are in priority. Since it is forbidden to go to work and the police strictly controls this, the delivery and installation of new ASICs is practically impossible, ” he said.
In addition, the top management of mining companies, including Bitmain and Canaan Creative, left the country. They should return no earlier than the end of February — the beginning of March. Zverev believes that the slowdown in the introduction of new equipment will help miners stay in the profitable zone on the eve of halving.
Litecoin surged 17% in 24 hours and approached $70
The world’s seventh cryptocurrency by market capitalization went up by more than $10 in price and came close to $70.
LTC rises in price amid the general growth of the cryptocurrency market, but at a faster pace than bitcoin: in January, the BTC price grew by 30%, whereas litecoin strengthened by 65%.
It is worth noting that the first half of last year was very successful for LTC. Over the period from January to June, the coin added 350% in price – this was due to the halving of the block mining reward which took place in August.February 4, 2020 at 11:44 am #92172
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Cryptocurrency hedge funds were the most profitable asset in 2019, and how to earn BTC in Minecraft
Cryptocurrency hedge funds were the most profitable asset in 2019
Hedge funds through bitcoin as their primary asset were the most profitable for the year 2019, according to a study conducted by Eurekahedge.
The profitability of hedge funds with cryptocurrency was around 16% on average, whereas traditional hedge funds only received a profit of 10,4%.
Steve Kurtz, CEO of the Galaxy Digital cryptocurrency fund said that the investors interested in Bitcoin are “getting bigger” as the profitability of bitcoin in a duration of 1-, 3- and 10 years is looking impressive.
The revenue of ethereum miners fell by 75%
In 2019, Ethereum miners have generated $936 million in coins, down 75% in 2018, The Block reports.
ETH hash rate reached peak levels in August 2018 at around 292 TH/s, after which the capacity decreased by 43% and now it stands at about 165 TH/s. Mining was most profitable in January 2018, when ethereum was trading near a historic high of $ 1,400.
For comparison, the total income of bitcoin miners in 2019 was over 5 times higher than that of ethereum miners.
You can earn bitcoins in Minecraft
In Minecraft, the popular multiplayer game, the SatoshiQuest server has been launched, which allows players to receive prizes in bitcoins.
Each player pays $1 in BTC that goes to the treasure fund. A player who finds the loot on the vast landscape receives 85% of the fund, with 15% going back into the next round’s loot pot.
The first round of SatoshiQuest took place on January 26 and it starts over every time someone finds the treasure.February 7, 2020 at 8:32 am #92283
The price of ASIC miners to rise because of coronavirus, and ethereum surpasses the $200 mark
The number of transactions in the BTC blockchain has reached 500 million
The number of confirmed transactions in the bitcoin network has exceeded 500 million. This was announced by Jameson Lopp, the developer of Bitcoin Core, in his Twitter account.
“Today, as of block 616064, Bitcoin surpassed 500 million transactions confirmed on the blockchain,” Lopp tweeted.
It is worth noting that the network is growing with great acceleration: in 2017, the number of transactions did not exceed 250 million. At the current growth rate, in two years the blockchain can surpass the 1 billion transaction mark.
The price of ASIC miners to rise because of coronavirus
That’s what Chen Feng, Sales Director of Canaan, Chinese mining manufacturer, thinks. Due to the coronavirus outbreak, the country declared quarantine and closed down all enterprises, which forces miner manufacturers to postpone the delivery of equipment.
According to Feng, companies will resume work after February 10-15, and ASIC miners will start rising in price in February-March simply because of short supply. Moreover, he points out that it is not clear at the moment it is not clear when cheap logistics will resume in the country.
Ethereum has surged 10% in 24 hrs and surpassed the mark of $200
The world’s second cryptocurrency by market capitalization continues to strengthen — its price has grown by more than 10% to $210 in 24 hours.
Analysts believe that the price of ETH will continue to rise. Trader GalaxyBTC points out that the ETH/USD pair has approached the two-year resistance line, after breaking which “it’s showtime.” And according to analyst Josh Rager, in two years, many will regret that they did not buy ethereum at the price of $ 200.
The majority of crypto assets from the TOP-100 show the positive dynamics over the past 24 hours. Thus, bitcoin has updated the maximum of 2020, having risen in price to the level of $ 9,700.February 12, 2020 at 5:16 am #92641
Cyber criminals netted $ 4.3 billion in 2019, and Japan plans to launch its own cryptocurrency
Japan plans to launch its own cryptocurrency
The country should have its digital currency in two-to-three years, according to Kozo Yamamoto, the head of the commission for the study of banking and financial systems of the Liberal Democratic Party of Japan.
He noted that the government will include this question in the list of medium-term tasks and attach the paramount importance to it.
“The sooner the better. We’ll draft proposals to be included in government’s policy guidelines, and hopefully make it happen in two-to-three years,” Yamamoto said.
He thinks that each country should create a digital platform to control cash flow. This will help better handle crises and stabilize the economy.
Cyber criminals stole $4.3 billion in 2019
Threat actors stole at least $4.3 billion in cryptocurrency in 2019, according to a study by Chainalysis. In 2018, the amount consituted $3 billion.
The dramatic increase of fraud was caused by the spread of financial pyramids, with 90% of the funds stolen through six schemes. The Plus Token platform was among the most notorious ones, it promised customers daily income for storing coins. The creators of the pyramid managed to raise $2 billion, they are currently under investigation.
In 2017, most cryptocurrencies were stolen through ICOs, and in 2018, through hacker attacks.February 14, 2020 at 3:33 am #92863
Tether to track USDT transactions, and US authorities want to strengthen control over the crypto sphere
Tether to track USDT transactions
The company will implement a compliance tool to track suspicious transactions in USDT tokens. The goal is to meet the requirements of regulators in various countries. To do this, Tether will use the Know Your Transaction software created by firm Chainalysis.
“Know Your Transaction (KYT) is a real-time AML compliance solution for montiroinga token’s full lifecycle, from issuance to redemption, ” Chainalysis said.
According to the Tether company, the privacy of USDT owners will not be affected. Earlier, the British regulator suspended ePayments system due to non-compliance with the requirements of the anti-money laundering law.
Trading volumes on cryptocurrency exchanges increase by 70%
Since the beginning of 2020, trade on spot cryptocurrency exchanges has increased by 70% and reached a six-month peak.
More than half of the volume falls on the Binance exchange, whose share in the total turnover has also grown, according to a research by The Block. Regulated platforms of derivatives also see an increase of activity. Open interest at Bakkt reached a record $ 12 million at the end of January, and the average trading volume went up to $26.45 million.
Things are going well on CME too — in January the average trade turnover increased by 144% to $458 million. BitMEX is also not far behind — the level of trading in perpetual BTC swaps increased by 55% in the first month of 2020.
USA to release new cryptocurrency regulation rules
The US Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN) are developing new requirements related to cryptocurrency. This was stated by Treasury Secretary Steven Mnuchin.
He did not disclose the details but noted that departments are paying great attention to working out this issue and are working closely with other watchdogs. Mnuchin also added that he shares the concerns of Congress over the use of digital currencies in illegal operations.
Earlier, the administration of US President Donald Trump proposed budget proposal for 2021, which includes strengthening control over cryptocurrency transactions.February 18, 2020 at 5:23 am #93073
Best days of the week to trade BTC, and Craig Wright says he owns rights to Bitcoin network
What days of the week it is best to buy and sell bitcoin
Longhash, data analytics platform, conducted a study: which days and hours are the most profitable to buy and sell.
For this study, experts analyzed two years of hourly bitcoin price data for each day of the week, having calculated the average prices of opening, closing, as well as maximum and minimum.
It turned out that bitcoin’s price had a tendency to be at its lowest point of the week on Fridays at around 6 AM UTC, and Monday evening/Tuesday morning at midnight UTC the price is on average $170 higher than on Friday morning.
The researchers note that Monday to Tuesday night institutional traders from Asia, America and Europe open long positions. On Friday, market participants seek to take profits before the weekend.
Craig Wright says he owns rights to Bitcoin
Craig Wright, the self-proclaimed Bitcoin creator, demanded that Bitcoin and Bitcoin Cash networks stop using the distributed registry, which, he said, belongs to him.
Wright said he would protect his intellectual rights to the first cryptocurrency’s blockchain in court.
“As the creator of Bitcoin, I maintain the sui generis rights to any copy of the database created from Genesis in January 2009. I shall not be relinquishing the ownership. I will be licensing it, and have already engaged in a process.”
He pointed out that only Bitcoin SV has a right to use a distributed registry, while Bitcoin and Bitcoin Cash do it illegally.February 20, 2020 at 3:36 am #93161
Whales buy bitcoin, and Binance can not cope with the influx of customers
Research: whales are buying bitcoin
Analysts at the Kraken exchange found that in February, major holders of bitcoin (100-1,000 BTC) became much more active. According to the report, the previous phase of the accumulation of coins by whales led to an increase in the exchange rate in January of this year. A similar relationship was observed in 2018-2019.
“We anticipate accumulation to conclude in the weeks/months ahead and volatility to re-emerge”, experts say.
There are also“smaller” investors who own amounts between 0.1-1 BTC – over the year their number increased by around 10%. However, the largest coin holders (over 1,000 BTC) are still employing “wait-and-see” tactics, analysts say.
Binance performance issues caused by an influx of users
Last week, customers of one of the largest cryptocurrency websites Binance encountered the website’s performance issues.
CEO Changpeng Zhao said that the problems were caused by an influx of users an increased load on the system. Zhao links the influx of customers with bitcoin’s price returning to $10,000.
“The difference between BTC at $10,000 this time around and the previous times is, there are a lot more users now. While this is a solid sign of strong recovery for the crypto market, it also puts on significant load for our systems,” the Binance CEO wrote.
CelticGold encourages investing in bitcoin
Another major investment company recommends its customers to invest part of their funds in bitcoin.
CelticGold specializes in precious metals trading. The company’s analysts published a report in which they had revealed the advantages of cryptocurrencies and recommended that investors allocate 1-5% of their portfolio into bitcoin.
“If you are very familiar with cryptocurrencies and Bitcoin, you can individually allocate higher percentages to Bitcoin. For the average investor, who is also invested in equities and real estate, 5% in the highly speculative and highly volatile Bitcoin is already a lot!”
CelticGold experts add that BTC is a safe haven asset, as it is not managed by central banks and governments. In addition, the number of coins is limited, and regulators cannot print new ones.February 20, 2020 at 1:01 pm #93180
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Ripple gets in the top 100 payment systems, and oil prices are more volatile than bitcoin
Ripple got in the top 100 international payment systems
The payment system based on the Ripple company blockchain was included in the list of the 100 largest cross-border payment systems. This is the only blockchain project in the list.
The TOP-100 was compiled by the analytic company FXC Intelligence, along with Ripple, the list included Visa, Bank of America and PayPal. In addition, it contains MoneyGram, TransferGo and other payment systems that have partnered up with the blockchain project.
Oil prices are more volatile than bitcoin
Cryptocurrencies are usually blamed for considerable price fluctuations, but as it turned out, at the moment bitcoin is far from being the most unstable asset.
At the end of January, The West Texas Intermediate (WTI) oil price’s one-month realized amounted to 119.6%, while that of BTC – 54.5%. For comparison, in gold this indicator is 17.3%, the S&P 500 – 11.6%.
This is not the first time that the oil rate exceeds bitcoin in the range of fluctuations. For example, in the fall of 2019, WTI volatility increased to 133%, when BTC did not exceed 50%. Realized volatility is the standard deviation of daily price fluctuations in percentage.February 27, 2020 at 3:35 am #93737
BCH, BCV and Tron dip by 20% in two days, and Morgan Creek founder urges not to trust Buffett
Founder of Morgan Creek: “I would not trust Buffett”
One shouldn’t listen to Warren Buffet’s advice regarding cryptocurrency, Anthony Pompiliano, Founder of Morgan Creek, thinks. According to him, Buffet is a great investor but knows nothing about technology.
“People will listen to Warren Buffett’s opinion because he is one of the best investors of all time. When it comes to technology, though, I think there are better people to listen to. I don’t take technology advice from someone who uses a flip phone or doesn’t use email, ” Pompliano said.
He also added that Bitcoin will become the will be the global reserve currency in the future, and national digital currencies will not be able to compete with it, since they are controlled by states and are subject to inflation.
Bitcoin Cash, Tron, and Bitcoin SV collapse by 20% in two days
Cryptocurrency market is in the red: at the moment, all TOP-20 assets, excluding the USDT stable coin, are showing a decline.
Over the past two days, the currencies that lost the most in price are BCH (−22%), BCV (−23%) and Tron (−21%) The average market price of Bitcoin fell from $9,950 to $9,158, Ethereum fell from $275 to $236, the price of XRP fell from $0.2831 to $0.2396.
The total market capitalization dropped by $31 billion: from $290.074 to $259.161. According to analysts, the reason lies in the fact that the price of bitcoin failed to gain a foothold above the strong level of $10,000.