Category Archives: Bitcoin
Exposure to -1x the Daily Performance: Bitcoin.com Exchange Adds Inverse Token BTCSHORT | Promoted – Bitcoin News
During the last few months, Bitcoin.coms cryptocurrency exchange has added a number of new coins and features. Today, Bitcoin.com Exchange has added an Ethereum-based inverse token called BTCSHORT, a token that gives users exposure to the inverse or -1x the daily performance of Bitcoin on any given day.
Bitcoin.com Exchange traders can now access a new Ethereum-based inverse token created by the company Amun. Our cryptocurrency trading platform has added BTCSHORT so traders can gain exposure to the inverse or -1x the daily performance of bitcoin (BTC). The new token will be accessible at 10:00 a.m. UTC and it will be paired with the stablecoin tether (USDT). A recent blog post published by Bitcoin.com explains how the BTCSHORT product from Amun works and how customers who use our exchange can leverage the token.
BTCSHORT is strictly not a security, carries many risks, and is not suitable for risk-averse token holders and traders, the blog post explains. This type of token is best suited for sophisticated, highly risk-tolerant token holders who understand and are comfortable with taking on the risks inherent to inverse tokens like BTCSHORT and understand the risks associated in holding tokens generally and inverse products in particular.
For instance, if the price of BTC is trending downward then BTCSHORTs multi-day performance will prosper, and daily returns of the token will be compounded. In contrast, if there is low volatility and the price of BTC is headed northbound, then BTCSHORTs performance will drop and there will be no compounded returns.
Losses made on one day will be, because of previous losses, applied to a smaller amount, the announcement details. This means that compounding will lead to slightly reduced losses than if there were no compounding. Additionally, the BTCSHORT listing announcement adds:
BTCSHORT offers a notional exposure to -1x the daily performance of Bitcoin. It is crucial that all token holders understand how compounding and the daily rebalancing of the token affect performance, especially in volatile markets. The tokens are designed for holding periods of equal or less than one day and holders need to consider their holdings each day.
If you are interested in learning more about BTCSHORT and other digital asset token backed by industry experts then check out Amuns website and frequently asked questions (FAQ) section. If you want to join one of the fastest cryptocurrency trading platforms on the market today, then check out Bitcoin.coms Exchange today.
Our exchange is a simple-to-use trading engine that offers a variety of different cryptocurrencies. Popular digital assets hosted on the platform include coins like litecoin (LTC), ripple (XRP), tron (TRX), zcash (ZEC), stellar (XLM), dash (DASH) and eos (EOS) are paired with markets denominated in base currencies such as bitcoin cash (BCH), ETH, BTC, and tether (USDT).
What do you think about the token BTCSHORT? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer
Continue reading here:
Exposure to -1x the Daily Performance: Bitcoin.com Exchange Adds Inverse Token BTCSHORT | Promoted - Bitcoin News
This Metric Shows Bitcoin Is Undervalued Even After 150% Price Rally – CoinDesk – CoinDesk
Bitcoin has witnessed triple-digit percentage gains over the past two months. Yet, one metric has turned quite bullish after the recent halving event, showing signs the cryptocurrency remains undervalued and still has room to run.
The largest cryptocurrency by market capitalization is trading near $9,700 at press time, up 150% from its March 12 low of $3,867.
And while that may cause some investors to think the cryptocurrency is overbought or overvalued, an on-chain metric called the Puell Multiple, which marked a price bottom in March, is suggesting otherwise.
The Puell Multiple is calculated by dividing the daily issuance value of bitcoins in U.S. dollar terms by the 365-day moving average of the daily issuance value. It is currently just below 0.5, according to the data provided by the blockchain intelligence firm Glassnode.
A reading below 0.5 indicates the value of the newly issued coins on a daily basis is quite low compared to historical standards. Historical data shows bear markets tend to end with the Puell Multiples drop below 0.50.
The Puell Multiple is usually influenced by gyrations in price. For instance, if prices drop the dollar value of the daily issuance declines, pushing the ratio lower.
Daily issuance refers to the number of coins added to the ecosystem by miners, who receive them as rewards for mining blocks on the cryptocurrencys blockchain. Miners mainly operate on cash and cover the cost of mining by offloading their holdings by selling into the market.
However, reduced supply from miners can also weigh on the Puell Multiple. That seems to be the reason behind the ratios recent downward move.
The latest below-0.5 reading on the Puell Multiple is the result of a programmed reduction in the daily issuance.
Bitcoin underwent its third reward halving on May 11, following which rewards per block mined fell to 6.25 BTC from 12.5 BTC. The non-price metric dropped from 1.13 to 0.41 immediately following halving and looks to have bottomed out at 0.37 on May 17.
To put it another way, daily miner supply has declined significantly since May 11 due to halving and the resulting miner capitulation - the small and inefficient miners are scaling back operations due to reduced profitability.
The seven-day average of the hashrate, or the mining power recruited to mine blocks on the blockchain, has declined from 120 exa-hashes per second to below 100 exa-hashes, according to data source CoinMetrics.
Lows in Puell Multiple seen following the previous halvings, which took place in July 2016 and November 2018, had marked the beginning of fresh bull runs in bitcoins price.
Bitcoin underwent its second halving on July 9, 2016, pushing the Puell Multiple lower from 1.59 to 0.72 in the four days to July 13. The metric eventually bottomed at 0.59 in mid-August. The price low of $450 seen in the first week of August has never been put to test till date.
Similarly, the Puell Multiple fell from 1.57 to 0.70 in the two days following the first reward halving of Nov. 28, 2012. The gauge bottomed out at 0.62 three weeks later. The cryptocurrencys low of $12.30 seen on the halving day was the last time that price was ever seen.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
See the original post:
This Metric Shows Bitcoin Is Undervalued Even After 150% Price Rally - CoinDesk - CoinDesk
The Fed Is Bitcoins Best Friend – Forbes
Getty
It is nothing new in equities to watch an index rise towards a round number and fall back when it touches it, but for a new generation of crypto hodlers its a new experience.
There are always reasons given, ones that are plausible but not inclusive.
The Bitcoin price seems reluctant to go over $10,000
Classically the explanation is that there are sellers at, in this case, $10,000, who dump when the price gets close. Sounds likely. The more sophisticated version is that there are people who bought at $10,000 who then saw the price fall hard and that have been holding until the price gets back there, then sell. That is very stupid trading behavior, but I have heard real people say as such, so it is a factor.
However, mathematically, to break any level never to return on a skewed random walk, the chances of a clean break are about 1 in 5, more or less depending on the underlying trend buried in the random noise. That is to say, if there is a small directional trend inside a big wobbling market (hello bitcoin) the price will bash around any arbitrary level many times before it never revisits that level again. This doesnt require the behavior of novice investors behaving strangely or any other theory or conspiracy to make a price appear to approach a level and then fall back. Obviously, we can roll human factors into that theory without them clashing. We can also spout on about support and resistance and again it might be a real factor or simply false pattern detection by our pattern seeking brains.
Charts are not generally good predictors of the future and work best in crazy times when the markets lose their normally overwhelmingly random fluctuations.
I use charts to help me see where an instrument has been and gauge its temperament. I draw few lines and keep it incredibly simple. Charts are prefect predictors of the past and that has some value because it gives context.
The only question remains, which way is the market going? So looking at the chart thats what we should ask, which way is the market going?
Which way is the Bitcoin price going?
With the halvening behind the bitcoin (BTC) investor, the price should soon be through $10,000. The Federal Reserve have said it will do whatever it takes while encouraging the government to spend like a sailor.
Thats dole for the masses in floods of dollars. So what currency should you hold, when Europe is printing and Japan is printing and China is printing, and on and on. Couple that with what looks like international coordination to competitively devalue and its hard to think of a place to get out of the way of all this monetary easing.
Which is why I have as much bitcoin as sensible diversification allows.
Clem Chambers is the CEO of private investors websiteADVFN.com and author of 101 Ways to Pick Stock Market Winners and Trading Cryptocurrencies: A Beginners Guide.
Chambers won Journalist of the Year in the Business Market Commentary category in the State Street U.K. Institutional Press Awards in 2018.
More here:
The Fed Is Bitcoins Best Friend - Forbes
Bug Forces Shutdown of Bitcoin-Backed Ethereum Token tBTC – CoinDesk – CoinDesk
Blockchain venture studio Thesis has put a pause on deposits into tBTC, its new platform meant to put BTC on Ethereum so BTC can be used in decentralized finance (DeFi).
The Thesis team cited a bug, but is not disclosing details until all funds have been safely withdrawn from this iteration of tBTC. Thesis is now helping early users withdraw any BTC that had been deposited.
The project lead behind the new system, Thesis CEO Matt Luongo, sent the following statement to CoinDesk via a spokesperson:
"While the tBTC dapp was being tested over the weekend in its alpha version, a couple of community members put a few BTC into the contract before testing had concluded. Meanwhile, an issue in the dapp that was missed by our security audit was found by two of our contributors, and we decided to pause deposits for now to ensure the safety of funds. It is thanks to the strength and engagement of our community that this was identified quickly and all funds are safe."
Luongo said the priority now was to further enhance the security of the system before announcing a timeline to re-deploy it. A new audit is being conducted by Trail of Bits; another auditor will also be enlisted and its bug bounty has been increased tenfold.
Luongo first announced that tBTC had been paused at 5:58 UTC on Monday. It had been live for two days. He credited a member of the Thesis team for finding the flaw, and Summa's James Prestwich for verifying it.
Luongo wrote later in the Twitter thread, "Because the system is young and most minters are active community members, I think we can get this done in 1 to 2 days. Though we fixed the issue in code last night, we don't want to expose it until all funds are drained."
Prestwich declined to comment. Luongo wrote on Twitter that a full post-mortem is forthcoming. A Thesis spokesperson told CoinDesk this will likely be released tomorrow.
The security model for tBTC is described in its documentation. It delineates four things Thesis can do with its key to the smart contract. Among those, it can pause new deposits one time for 10 days. This is how Thesis stopped deposits Monday, but the option can only be used once.
That documentation also says, "The first version of tBTC has been built without any ability to upgrade contracts." The Thesis team has not confirmed that it will deploy a whole new smart contract.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Continue reading here:
Bug Forces Shutdown of Bitcoin-Backed Ethereum Token tBTC - CoinDesk - CoinDesk
Here’s when Bitcoin will actually reach 99.99% uptime – Decrypt
In approximately 2,005 days, Bitcoin will achieve the holy grail of the four ninesthat is, 99.99% uptime for its global blockchain network. According to in-house calculations, we estimate Friday November 14, 2025 as the date when Bitcoin will reach the milestone, assuming nothing goes wrong in the meantime.
Bitcoin is estimated to have been functional for 99.985% of its existence thus far. In fact, that number would be as high as 100% if we measured only from 2013 onwards.
But Bitcoin has gone down twice. In 2010 a value overflow incident saw two Bitcoin addresses erroneously granted 92.2 billion coins each. In this instance, the blockchain was down for eight hours and twenty seven minutes before a softfork (minor update) effectively cancelled the bugged transactions.
In 2013, Bitcoin briefly went down after a block was rejected by certain miners running different versions of the Bitcoin client. This resulted in a short chain split which was resolved after six hours and twenty minutes when miners reorganized themselves onto the same client.
Dan Held, director of business development at crypto exchange Kraken, posted a video to the main cryptocurrency subreddit which claimed Bitcoin already had maintained a higher uptime than Amazon, Google and Facebook.
However, not everyone thinks comparing Bitcoins uptime to the worlds largest tech companies is a solid metric. As one commenter on Helds post suggested, perhaps Bitcoins uptime should be compared with that of other currencies:
Why compare a currency to tech companies? How much uptime did paying with usd have? 100%, they claimed.
Although some dispute thisclaiming the US dollar has indeed, had downtime. A Reddit post in 2017 pointed out that hyperinflation and other monetary policies stopped the first version of the dollar in its tracks. Four years later, it returned as the dollar we know today. Those four years put it at 98.36% uptime, arguably less than Bitcoin. But by this point, the discussion is too meta to really make any sense.
See the original post:
Here's when Bitcoin will actually reach 99.99% uptime - Decrypt
Citi’s Tony McLaughlin on CBDCs, Libra and bitcoin – Finextra
Tony McLaughlin of emerging payments and business development at Citi tells Finextra TV of his soft spot for bitcoin as an alternative investment, but points out the inefficiencies that still afflict the cryptocurrency.
Comparing bitcoin to central bank digital currencies (CBDCs) being developed in countries such as China and Sweden, with research and discussion ongoing in many others, McLaughlin draws attention to the proof-of-work model that the bitcoin blockchain is built on.
CBDCs will not rely on proof of work. They will be quasi-centralised systems and not open to anonymous people running nodes, he says.
McLaughlin says this would also be the case with private digital currencies like Libra.
The shortcoming of a proof-of-work blockchain is the substantial amount of energy required to power the computers used to solve the mathematical problems and win the right to add the next block to the ledger.
This makes mining a hugely expensive task and with a diminished reward now that bitcoin has experienced its third halving it may prove an untenable business to be in.
McLaughlin describes the proof-of-work model and the ensuing energy expenditure as a function of how people achieve consensus in these open ecosystems.
Nonetheless, McLaughlin speaks of his fondness for bitcoin due to the fundamental ethos that lies behind it.
Ive got a little bit of a soft spot for bitcoin because of its ideological purity, if you like, he says, given the utopian idea of one currency for the whole world.
Independent from the negative consequences of financial stimulus from governments and central banks, bitcoin provides a useful diversification tool in investment portfolios to protect against inflation.
The cryptocurrency suffered an initial plunge in its value in mid-March, dropping to below $4000 at one point, before tracking back up and has been consistently challenging the $10,000 resistance level over the past month.
Bitcoin is a non-correlated asset, so its okay for those purposes, but for actually making payments its got some significant downsides, McLaughlin says.
Adoption of bitcoin for payment transactions hasnt taken off during this period. It remains a speculative or alternative asset in the same way that people invest in racehorses, art and wine.
Continued here:
Citi's Tony McLaughlin on CBDCs, Libra and bitcoin - Finextra
From Buenos Aires to Beirut – Covid-19 Excuse Restricts Millions of Citizens from Withdrawing Their Own Money | Economics – Bitcoin News
The coronavirus and the government-induced lockdowns have wreaked havoc on the global economy and millions of people cant access their own money. Reports from financial stricken areas like Venezuela, Argentina, and Lebanon show that citizens are being stopped from accessing their own hard-earned savings. The news shows the great importance of censorship-resistant money and how society should gravitate toward ideas like bitcoin as soon as possible.
The coronavirus outbreak was rough, but not nearly as horrendous as the over-reactive measures taken by global lawmakers and todays so-called scientific experts. After two and a half months have gone by, it is now quite clear to many people that the response to the pandemic was uncalled for and the lockdowns were the worst mistake humanity has made in over 100 years. Despite the fact that numerous scholarly studies and papers show that the virus wasnt that bad and had a survival rate of over 99%, governments continue to enforce draconian measures across the globe.
Every day in Lebanon, people wait outside the financial institutions waiting to withdraw money, and Lebanons banks have restricted withdrawals to $100 per week. On any given day, a bank employee will also only allow 15 Lebanese residents in the bank per day to get $100 and everyone else waiting in line is told to leave.
In Venezuela, people are also having a hard time accessing funds from banking institutions as well. Things got worse for Venezuelans when the Decree N 4167 published on March 23, 2020, introduced a payment suspension and noted the Socialist Party would restructure payment systems. There is a massive difference between the going street rate of the sovereign bolivar and the bank rate. Venezuelans are also limited to withdrawing very small fractions of funds from institutions like Banco Provincial.
In Argentina, the financial system is almost as bad as Venezuelas economy, and it is worsening every day. On May 16, Buenos Aires resident, Manuel Araoz, described a weird financial situation in Argentina.
Something really weird happened in Argentina this week. Its hard to explain to anyone not living here, but Ill try, Araoz tweeted. Historically, Argentina had the most ridiculous prices for imported products. For example, in 2013 the iPad was $499 in the US, but $1094 in Argentina. This was due to very high import taxes (50%) and very corrupt customs which hold most products for months unless you bribe. This created a weird dynamic where anyone traveling abroad was asked by many acquaintances to smuggle stuff for them. Most argentine international travelers were technology mules, he added. Araoz continued further by saying:
However, last week, ARS/USD black market rate went crazy high (~138 ARS per USD), while the official rate is artificially very low, at less than 50% of that (~67 ARS per USD). This created a weird market condition: All imported products (cars, technology, etc) are now very cheap (in USD). This is because importers buy USD at the official rate, but sell their products in ARS. To anyone holding savings in USD cash, everything is suddenly ~50% off. This created a huge demand surge for imported products in the midst of a pandemic and economic crisis. Crazy The government is now evaluating forcing minimum prices for imported goods, to stop people from escaping the melting ARS into actual goods which hold some value over time.
There are a number of countries that are experiencing issues with banking institutions that are restricting withdrawal limits at either the branch or an automated teller machine (ATM). Many banking branches worldwide are close due to Covid-19. Egypts citizens are restricted from withdrawing over what the central bank allows them to, which is a maximum of LE50,000 from LE10,000 using current guidelines ($650 to $3,100).
Residents of the U.K. are dealing with cash restrictions as well, as the contactless limit to 45 at the start of April has made cash all but redundant for most, explains the Guardian reporter Patrick Collinson, during the Covid-19 pandemic. Tesco Bank, Natwest, and Barclays in the U.K. all have withdrawal and contactless limit restrictions.
In Australia, residents who want access to their hard-earned cash have been dealing with overbearing government rules for quite some time now. In December, the Australian government put a $10K limit on cash withdrawals, and even storing more than that at your home is suspect to law enforcement now. Covid-19 has made things worse in Australia and people are having even more issues accessing their own money.
For over 11 years now bitcoin proponents have been telling people that the world needs censorship resistant money. There is proof that there is greater demand for censorship-resistant cryptocurrencies in regions that have tyrannical governments. Unfortunately millions of global citizens are learning the hard way but the crypto economy and digital assets like BCH, ETH, XMR, BTC, LTC, and the thousands of other digital assets are there waiting to be leveraged at any time.
What do you think about the millions of global citizens having issues accessing their own funds? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer
Read the original post:
From Buenos Aires to Beirut - Covid-19 Excuse Restricts Millions of Citizens from Withdrawing Their Own Money | Economics - Bitcoin News
Bitcoin.com’s Mining Video Censored: The Tale of Youtube’s Blatant Censorship and Propaganda – Bitcoin News
During the last few years, the Google-owned Youtube platform has been accused of massive censorship and in the last three months, the video streaming business resembles the Ministry of Propaganda, more than an online video-sharing platform. This week Bitcoin.com was also censored for sharing a video about our bitcoin mining pool. Bitcoin.coms Youtube account was given one strike for allegedly violating community guidelines.
When the online video-sharing platform Youtube was first released in February 2005, it was a community of people sharing ideas with very little censorship and moderation. Nowadays, Youtube is under the ownership of Google, and the firms CEO Susan Wojcicki has been outspoken about removing videos. Weeks ago, Wojcicki told CNN that any videos that went against the WHO narrative in regards to the Covid-19 outbreak would be removed.
Last year, Youtube de-platformed a myriad of alt-right and so-called conspiracy groups and removed these channels from the video streaming site. Youtube also started harassing cryptocurrency content creators and Youtubers who operated channels that discussed bitcoin and other digital assets. During the holiday season in 2019, Youtube officials purged a massive number of cryptocurrency video channels for very little reasoning. The company typically just tells the person that the channel had violated community guidelines.
Prior to Bitcoin.coms recent video removal and strike, Wojcickis words came to fruition as her company banned many videos that spoke out against the WHOs narrative when it came to an oppositional narrative toward official coronavirus data. Youtube and Wojcicki took it upon themselves to shelter the public from an opposite narrative that claims herd immunity works and the fatality rate for Covid-19 was extremely over-exaggerated.
We now know that the proof is right in front of our faces and many respected scientific think tanks and epidemiologists have told the public that the lockdowns were very irrational. Despite the proof, Youtube has banned a number of videos that go against the ongoing fear-mongering narrative. When a video was posted on Youtube that featured Dr. Daniel W. Erickson and Dr. Artin Massihi from California, the video got 5 million views before it was removed. Youtubes excuse was:
We quickly remove flagged content that violate [sic] our Community Guidelines, including content that explicitly disputes the efficacy of local health authority recommended guidance on social distancing that may lead others to act against that guidance.
Youtube also banned a video called Plandemic, which featured Dr. Judy Mikovits soon after it was published on the online video sharing platform. Youtube, however, does allow videos that rebut Judy Mikovits, Daniel W. Erickson, and Dr. Artin Massihis narratives. The company has no issues allowing rebuttals that stay on course with the fear-mongering narrative.
But any dissenting views against the lockdowns, stay-at-home orders, and social distancing continued to be removed to this day. The former head of biostatistics, epidemiology, and research design at Rockefeller University, Dr. Knut M. Wittkowski, recently told the public that Youtube had banned his video that went against the lockdown, and over-reaction narrative after it gathered more than 1.3 million views. Dr. Andrew Kaufmans videos were also removed, when he spoke out against the stay-at-home narrative and the data spread by people like the epidemiologist Neil Ferguson.
Now Youtube has banned one of Bitcoin.coms videos for sharing information about our mining pool. The video removal was based on the companys sale of regulated goods policy and the video allegedly went against community guidelines. The Bitcoin.com account was given a single strike, which gives the account a one week probation period. Two to three strikes could lead to far worse restrictions against the Bitcoin.com account that merely shares information and resources about cryptocurrency solutions. Bitcoin.coms CEO Mate Tokay has spoken out against the Youtube censorship in a tweet letting the company and Wojcicki know they have been immoral.
History shows that censorship has produced some manipulated realities and it has furthered evil time and time again. Youtube is a private company and it can do whatever it wants, but the censorship still speaks volumes on the companys tethered relationship with the status quo. Theres a reason why cryptocurrency videos are removed and it is because it goes against Youtubes financial masters. The reason why Youtube bans certain groups is because those groups gain grass-roots attention and make people think critically.
Youtube has banned videos that go against the Covid-19 narrative as well, because people started realizing that a virus with a 99% survival rate isnt as horrible as we all thought. Concrete evidence shows that the lockdowns and stay-at-home orders did absolutely nothing, even though Youtube continues to scream the less-powerful Covid-19 mantras. Staying at home saves lives, Were all in this together, Flatten the curve, and other propaganda slogans are still aired on nearly every ad published on Youtube today.
Censorship and propaganda techniques paint a clear perspective of Youtubes true colors. Censoring Bitcoin.coms mining video bolsters the argument that Youtube does not have the best interests of global citizens in mind. If anything, people who understand Youtubes vile acts of censorship and misinformation, should vacate the platform in great numbers and leverage a more decentralized online video sharing application like Lbry, or Bitchute. As the economic think tank Fee.org has said: Youtubes censorship of dissenting doctors will backfire.
What do you think about Youtubes censorship and propaganda techniques these last few months? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Youtube, Twitter,
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Read disclaimer
Read more from the original source:
Bitcoin.com's Mining Video Censored: The Tale of Youtube's Blatant Censorship and Propaganda - Bitcoin News
Bitcoin Product Demos During the Halving – Bitcoin Magazine
Bitcoin Magazines BitcoinHalving.com 21-hour live stream was a celebration of programmable scarcity during Bitcoins third-ever subsidy halving. It brought panel discussions, fireside chats, technical analysis, banter, memes, music and an unforgettable decentralized countdown to Bitcoins global community and beyond.
Among the diverse pieces of content presented were firsthand demonstrations from some of Bitcoins most active builders, showcasing the products and services that will lead the way in the technologys fourth epoch.
Nodl offers some of Bitcoins most popular options for running a full node, a critical practice for those who want to maximize their sovereignty from the third parties that dictate the legacy economic system. The Nodl One, for instance, allows users to download the full Bitcoin blockchain themselves and includes extra features like full Tor implementation and integration of BTCPay Server. The Nodl Dojo is a similar device, but with the privacy-focused Samourai Wallet built in at its core.
During the BitcoinHalving.com live stream, the team from Nodl demonstrated how a Nodl Dojo is built and walked through the installation of Samourai, giving viewers a firsthand and detailed look at what goes into one of the spaces most important products.
Mesh networks are critical solutions for allowing users to access Bitcoin in truly sovereign ways free of the middlemen that control mainstream internet servers.
Put simply, mesh nets are networks of peer-connected nodes that offer offline connectivity by means of radio signals, Bitcoin Magazine reported in March 2020. Depending on the bandwidth of the network, you could do things like send a bitcoin transaction or download the Bitcoin blockchain.
During the BitcoinHalving.com live stream, Richard Myers took the virtual stage to walk users through goTennas mobile mesh network offering.
One concern that people frequently have about Bitcoin is that it depends on the internet, Myers said during the presentation. One way Bitcoin users can reduce their dependence on centralized communications networks is by confirming bitcoin transactions without direct access to the internet.
Bitcoiners have long touted the dream of seamlessly purchasing a cup of coffee with their sats. Though that dream may remain unrealized in many cafes, the number of merchants that accept BTC is growing. In large part, this is thanks to payment processors like OpenNode.
[OpenNode is] a bitcoin payment processor and infrastructure company designed for todays complex digital economy, as viewers heard during the BitcoinHalving.com live stream. The OpeNode experience was created with flexibility in mind. This is why you can accept bitcoin with the option to instantly convert to traditional currencies like the dollar or euro. Of course, if youd like to keep your earnings in bitcoin, you can do that too.
By focusing on making it as easy as possible for merchants to accept BTC, OpenNode is filling a critical gap in the Bitcoin ecosystem and helping HODLers convert their coins into real-world items. They are also creating a rail that encourages merchants who might not otherwise leverage bitcoin to learn more about the technology and how it can bring them new customers, streamline their transactions and generally free them from issues in the legacy financial system.
Other payment processors have failed to provide a smooth experience for both the customers and the businesses using them and we intend to improve the overall experience, OpenNode CEO Afnan Rahman told Bitcoin Magazine in August 2019.
The BitcoinHalving.com live stream was host to several other high-quality demos, including one from Unchained Capital and another from Swan Bitcoin. To see more of our Halving content, visit our YouTube page.
Peter Chawaga is a senior editor at Bitcoin Magazine. He HODLs BTC.
See more here:
Bitcoin Product Demos During the Halving - Bitcoin Magazine
J.K. Rowling Made the Grave Mistake of Asking the Internet to Explain Bitcoin – InsideHook
She literally asked for it.
Taylor Hill/FilmMagic
Like many of us, best-selling author J.K. Rowling spent this past weekend in lockdown drinking. But unlike the rest of us, who used that time to drunk text exes or slide into the DMs of our latest quarantine internet crushes, J.K. Rowling made the grave error of publicly asking someone to explain Bitcoin.
This is something no one should ever do, nor really have any need to do, because at any given time there is actually an army of Bitcoin enthusiasts just waiting to explain it to literally anyone who will listen. In fact, most women have to actively work to prevent men from explaining Bitcoin to them every single day.
Nevertheless, J.K. Rowling had to learn that lesson the hard way after knocking back a few old-fashioneds and apparently deciding that a quick internet lesson in cryptocurrency would be a fun way to spend her Saturday night.
I dont understand Bitcoin. Please explain it to me, the author wrote in an actual tweet that sounds like the exact phrase a tech nerd would program a sex robot to say.
Unsurprisingly, it wasnt long before Rowling was inundated with thousands of replies from crypto-enthusiasts who had been waiting all their lives for an opportunity like this.
Unfortunately for the residents of crypto-Twitter, J.K. Rowling was not impressed, and quickly realized her mistake.
People are now explaining Bitcoin to me, and honestly, its blah blah blah collectibles (My Little Pony?) blah blah blah computers (got one of those) blah blah blah crypto (sounds creepy) blah blah blah understand the risk (I dont, though.), she tweeted.
But because Rowling hadnt been approached by enough mansplainy tech nerds for one night, Elon Musk decided to weigh in, clarifying that while Rowlings derisive summary of Bitcoin was mostly correct, currency issued by central banks actually makes Bitcoin look solid by comparison.
Around this time, the author revealed she was four old-fashioneds deep and any Bitcoin explanations might as well be written in Sanskrit. When one hopeful Bitcoin-splainer suggested Rowling take another crack at it sober, the writer simply replied, Ive got far more chance of grasping it drunk.
Now, I hope weve all learned a valuable lesson about inviting strangers on the internet to explain things. Theyre going to do it anyway. Theres no need to throw yourself to the wolves.
Subscribe herefor our free daily newsletter.
Go here to read the rest:
J.K. Rowling Made the Grave Mistake of Asking the Internet to Explain Bitcoin - InsideHook