Category Archives: Satoshi Nakamoto
Debate erupts over NFTs: Is it time to include them in the Bitcoin ecosystem – The Financial Express
By Mohammed Roshan
Since the launch of Bitcoin Ordinals in January 2022, they have sparked a lot of debate within the Bitcoin community. Ordinal Inscriptions, similar to NFTs, are digital assets inscribed on a satoshi (the lowest denomination of a Bitcoin). These inscriptions, named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto, became possible thanks to the Taproot upgrade implemented on the Bitcoin network in November 2021.
More than 200,000 Bitcoin Ordinals have already been created, with the widespread expectation that demand for their unique ability to store NFTs on Bitcoin will only increase over the coming years. However, some in the Bitcoin community have argued against the concept, expressing their concerns about its implications.
Lets try and understand this in detail.
So, are ordinals NFTs?
Well, not exactly but they can potentially be used for some of the same purposes.
NFTs and similar products that are used to certify ownership and authenticity ideally must be hosted on secure, decentralized platforms. However, in the case of NFTs until now, they were instead hosted on centralized crypto or chains prone to hacks and network shutdowns.
And, thats exactly where ordinals come in. With its advent, we now have a Bitcoin-native way to create NFTs, without actually issuing a token.
So, what exactly are Bitcoin ordinals?
Proposed by a developer named Casey Rodarmor, Bitcoin Ordinals are sats or satoshis that have been ordered and inscribed with information, that could be a text or an image. This piece of information makes each satoshi unique and turns it into an NFT of sorts.
Heres a simple analogy to understand ordinals better: imagine two hundred-rupee notes. You could use either of them interchangeably for transactions. However, they arent exactly unique thanks to a serial code, which serves as an identification for each hundred-rupee note. But imagine if one note was signed or inscribed by Virat Kohli and another by Shahrukh Khan, you now have 2 unique rupee NFTs. You could still spend it as regular money, but you probably wouldnt since the inscribed signatures of these celebrities boost its value.
Ordinals work similarly and they take advantage of the fact that every satoshi can be uniquely identified by its equivalent of a serial code. And, because there are a limited number of sats in existence, there are also a limited number of ordinals.
Ordinals contain the actual raw file data directly written into the Bitcoin blockchain and hence theyre pretty much forever, and cannot be destroyed. That makes them ideal for NFTs, where you want to make sure the ownership of a digital asset is clear and immutable.
How are ordinals different from NFTs?While they can be used for the same purposes, ordinals are different from traditional NFTs in terms of their technical design. Bitcoin ordinals, as mentioned before, help identify sats uniquely and have information stored on-chain. On ethereum, which is the dominant crypto of NFT activity and trading, the ERC-721 standard used to create NFTs, typically holds the metadata or a pointer to the art, which is generally held off-chain.
Another key difference is how the value of Bitcoin NFTs, especially around rarity, is derived. With traditional NFTs, the attributes of the art or information typically defines its rarity and hence its value. NFT projects generally also mint a limited supply of art pieces, so as to create exclusivity and boost its price.
Bitcoin ordinals can do all of the same but the pricing can also be defined by key moments that a Bitcoin block would represent. A simple framework suggested by the creator of ordinal inscriptions is that key events would decide the rarity of a sat and the ordinal inscribed into that. Some sats would be considered more precious than others, such as the first sat of every new block, the first sat of an adjustment period that occurs approximately every two weeks and the first sat of each halving.
At the same time, the other sats can derive value from the content which is inscribed into them.
This gives a unique dimension to its pricing and differentiates Bitcoin ordinals from NFTs, where the rarity is controlled by the artists or the founding teams behind the NFT collections.
So, are ordinals ultimately a good thing for Bitcoin?
Ordinals have already had quite a noticeable impact on the Bitcoin Network, and have stirred up quite a debate amongst Bitcoiners. There is a section of Bitcoiners who are of the opinion that ordinals are spamming the network causing network congestion and is ultimately a threat to Bitcoin decentralization.It is important to note that the Ordinals ecosystem is still in its early stages of development, and what lies in the future remains to be seen.
Just last week, Yuga Labs, the company behind the Bored Ape Yacht Club NFT series, generated $16.5 million from its first NFT auction using the Ordinals protocol on Bitcoin and this definitely has helped introduce many people to BItcoin.
A lot of the criticism against ordinals stems from Bitcoiners that either believe that Bitcoin must remain a peer-to-peer payment platform or those that dont understand the innovation behind building NFTs on Bitcoin.
We like to look at the optimistic side of things, and strongly believe this could be the start of a cultural shift showing even people outside the Bitcoin ecosystem that things can be built on a crypto ecosystem.
Over time, Bitcoin could act like the base protocol on which NFTs and several innovations are built an ultimate bottom layer of absolute truth.
Its also why the ordinals movement is so important. While there may be those that might not like to see Bitcoin move beyond its created intention of peer-to-peer payments, these are initiatives in the right direction that will unleash a torrent of innovation to the Bitcoin ecosystem.
The author is co-founder and CEO, GoSats
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Debate erupts over NFTs: Is it time to include them in the Bitcoin ecosystem - The Financial Express
Bitcoin Priced In Bank Shares Is The Crypto Chart You Cant Miss – NewsBTC
Bitcoin price is trading around $25,000, following a meltdown across the banking sector. The first ever cryptocurrency designed to allow individuals to be their own bank, has given banks a run for their money amidst a series of bank runs and collapses across the United States and the globe.
Take a closer look at the crypto price charts you absolutely cannot miss.
Bitcoin was created in 2009 during the aftermath of the Great Financial Crisis by the still-unidentified Satoshi Nakamoto. Hidden within the Genesis block there is a message referencing the cover story on The Times about the second bailout for banks.
The message made Bitcoins mission clear: remove the need for third-parties from the financial system and free humanity from the impact of greed and the elite. Essentially, the decentralized cryptocurrency-based protocol allows anyone to be their own bank, custody their own assets, and send and receive money without an intermediary like a bank.
Over the last week, several banks nearly collapsed resulting in yet more bailouts some 14 years after the launch of the first ever cryptocurrency. The story rarely changes, with governments and central banks quick to swoop in and stop a crises from further developing.
Like dominoes, several banks revealed major issues, ranging from Silicon Valley Bank, Silvergate, Signature Bank, and Credit Suisse. While the factors behind each instance varies, the end result was the same: customers realized they cannot trust the banks with their deposits. Signature Banks story is a little bit more complex, and was potentially shuddered due to involvement with crypto.
Since the ordeal began, Bitcoin has been on a tear priced in USD and other global currencies. BTC priced against bank shares? Well, thats a crypto price chart you simply must lay your eyes on.
The monthly candles in the above chart in the chart above are especially impressive. BTCUSD increased 80% against CS shares, 95% against SBNY, 200% against SIVB shares, and a staggering 650% against Silvergate.
The last time BTCUSD rallied this hard against big banks was back in May of 2019. Bitcoin price saw its bear market bottom about five months before the big move versus banks. This cycle, BTCUSD made its most recent low in November 2022. Five months from then would be April 2023, and already were seeing massive movements against the banking sector once again. Could the outperformance against banks signal a potential bottom in the crypto market?
This isnt the only way that the first ever crypto asset is beating banks. Even at prices of $25,000 per coin, Bitcoin has a larger market cap and total value than even the largest banks in the world, like JP Morgan Chase and Bank of America.
Will the dominoes continue to fall across the banking sector? And could this be the start of a new bullish narrative in Bitcoin? The next month will be pivotal in changing the trend across crypto.
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Bitcoin Priced In Bank Shares Is The Crypto Chart You Cant Miss - NewsBTC
Bitcoin vs Ethereum Which is BETTER to hold for the Long Term? – CryptoTicker.io – Bitcoin Price, Ethereum Price & Crypto News
Bitcoin and Ethereum are two of the most well-known cryptocurrencies in the world. Although both are decentralized digital currencies, they have significant differences in their underlying technology and functionality. Which one is better to hold, Bitcoin or Ethereum? Lets get into a quick analysis of Bitcoin and Ethereum.
Bitcoin was the first cryptocurrency to be created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. It was designed to be a decentralized, peer-to-peer digital currency that could be used as an alternative to traditional fiat currencies. Bitcoin operates on a blockchain, a distributed ledger that records every transaction on the network. The blockchain is maintained by a network of nodes, which work together to verify transactions and prevent fraud.
On the other hand, Ethereum was created in 2015 by a programmer named Vitalik Buterin. Ethereum is not just a digital currency, but also a blockchain platform that enables developers to create decentralized applications (dApps) and smart contracts. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Ethereums blockchain uses a cryptocurrency called Ether as its native token.
The primary difference between Bitcoin and Ethereum lies in their underlying technology and functionality. While Bitcoin is primarily used as a store of value or a means of exchange, Ethereums blockchain allows for the creation of decentralized applications and smart contracts. Ethereum is designed to be more flexible and scalable than Bitcoin, with a focus on providing a platform for developers to build upon.
In terms of market capitalization, Bitcoin is currently the largest cryptocurrency, with a market cap of over $1 trillion. Ethereum is the second-largest cryptocurrency, with a market cap of over $200 billion. Bitcoins price is largely driven by demand as an alternative store of value and investment asset, while Ethereums price is more influenced by the adoption of its platform for decentralized applications and smart contracts.
As for which cryptocurrency is projected to become better in the future, its difficult to say for certain. Both Bitcoin and Ethereum have their strengths and weaknesses, and their success largely depends on their adoption and use cases. However, many experts believe that Ethereums platform for decentralized applications and smart contracts has significant potential for disrupting industries and transforming the way we interact with technology. As such, Ethereum may have a more significant impact on the future of blockchain technology and decentralized applications.
While Bitcoin and Ethereum are both decentralized digital currencies, they have significant differences in their underlying technology and functionality. Bitcoin is primarily used as a store of value or a means of exchange, while Ethereums blockchain allows for the creation of decentralized applications and smart contracts. While both cryptocurrencies have their strengths and weaknesses, many experts believe that Ethereum has significant potential for disrupting industries and transforming the way we interact with technology.
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What is the Bitcoin price forecast for the next few weeks? Can Bitcoin price return to $35,000 soon?
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What is the attraction about Bitcoin? – Star of Mysore
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Bitcoin has become the most well-known currency around the globe as the popularity of Bitcoin has inspired many other developers to develop cryptocurrencies just like Bitcoin. None of them got as high as Bitcoin has become the largest market capitalization cryptocurrency in the world. It is nothing more than a form of currency that does not have any control over the government. The transactions of Bitcoin are recorded on an independent and decentralized base known as the blockchain. All the monetary transactions of Bitcoin are recorded and stored on the blockchain network, and it also provides security to transactions through cryptographic nodes. The currency was introduced in 2009, and whoever created Bitcoin is still anonymous. A name added by other cryptocurrency developers is satoshi nakamoto. But later, he left the project in between, and some of the other developers developed Bitcoin and introduced it to the public interest. In addition, if you are looking for a reliable trading platform, you can visit BITCOINPRIME.SOFTWARE.
Bitcoin attracts many new investors and traders to join the virtual market due to its uncertain hype and regular volatile prices. You cannot predict Bitcoin prices because it is highly flammable and not regulated by any regulatory authority. The absence of government authority makes Bitcoin transactions reliable, cost-efficient, time efficient, transparent and secure as the cases of cyber hacks and frauds are regularly coming to news headlines through centralized means. But till the present time, we do not have any complaints about Bitcoin fraud or cyber hacks. Bitcoin provides security that any traditional financial institutional security system cannot challenge. Bitcoin offers several advantages if it is accepted as a medium of exchange by businesses and companies. It will take time for Bitcoin to become legal tender as the currency is still new to the market.
The top attraction of Bitcoin
Privacy
You can use Bitcoin to transfer funds anonymously from one source to another without involving intermediaries or government bodies in monetary affairs. All the Bitcoin honors are provided with multiple public keys, usually the address of the Bitcoin wallet and the information needed to execute transactions to transfer Bitcoin from one account to another. Unlike credit and debit cards, they do not require complete information about the wallet owners common name, billing and address, which means they do not need any personal information about the wallet holder to transfer funds. The only thing required to receive payments from Bitcoin is a wallet address.
Decentralization
Due to Bitcoins decentralized nature, it does not allow the government to interfere in its monetary affairs. Also, some of us prefer to avoid 3rd party interference in economic matters to transfer funds from one server to another. Also, this is an excellent choice for people who are against the system and looking forward to extra privacy. In traditional payment systems, there is always a chance of information hacks and fraud due to the presence of financial records with banks and exchanges. Also, fraudulent transactions can occur with the name of traditional trades and institutions. However, Bitcoin is a decentralized body and does not allow this kind of fraudulent transaction to take place with the help of blockchain technology.
Bitcoin value
As we all know, Bitcoin has gained hype in the last few years and is continuously gaining advertising with increasing prices. Bitcoin can be chosen over other currencies as the best or excellent store of value. There is no government rule that you cannot convert Bitcoin into something different than feet currencies. There is complete control of your Bitcoin holdings in your hand.
Low transaction fees
Whether you are investing or using Bitcoin to make and receive payments, the transaction fees of Bitcoin transfers are relatively lower than a traditional transfer. And one of the biggest problems with centralized transfers is that it takes too long to transfer funds. Using Bitcoin can help you to transfer funds in around 10 minutes which is a relatively low time. The use of Bitcoin by small-scale businesses is beneficial because they pay high fees for minimum transfers. And this leads to an increase in companies costs of up to 10%.
Security
You cannot question Bitcoin security as it uses peer-to-peer transactions, meaning no 3rd parties are involved in completing payment transfers. Only the parties involved in payments are the receiver and payment maker. Every transaction of Bitcoin is recorded on an open distributed Ledger system known as blockchain with the security of cryptographic Nodes Once the transaction is recorded on a blockchain network, the transaction cannot be altered or changed manually without private keys.
Conclusion
These are some of the top attractions of Bitcoin that lures people to invest money in Bitcoin. Also, Bitcoin has high price volatility, which gives you the opportunity to earn maximum profit out of volatility. It is possible to make maximum profit in intraday trading without holding Bitcoin overnight. On the other hand, you must be aware of Bitcoins other drawbacks, like the prices can show a bearish trend, and within a few minutes, it concerns a bullish market. Get the required knowledge before investing your money in Bitcoin and other cryptocurrencies, as it can save you from bearing losses and maximize your profit on your investments.
This post was published on March 15, 2023 7:25 pm
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DexCoyote is Pushing New Projects Up by Offering IDOs in The … – The Coin Republic
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
Crypto industry has rendered decentralization a mainstream term. People love the fact that this space can give the power back to their hands. Currently, there are decentralized exchanges (DEXes) like Uniswap, 1Inch Network and more. that offer users a means to eliminate any intermediaries from their financial matters. DexCoyote, a decentralized launchpad offering services like Initial Dex Offering (IDO), is doing wonders in this decentralized space.
IDO is a concept where a project uses a decentralized exchange to offer their native coin. A user can simply visit the Token Generator section on DexCoyote website, connect the crypto wallet and select the create token option. All he has to do is select the chain from Ethereum, BSC or Polygon. After filing the necessary details like the name of your token, total supply and more, click on create token and you are good to go.
The process will release your newly created token on the blockchain and credit the supply to the creators wallet. DexCoyote is a free to use service where projects can easily create and distribute native tokens of their network. For the Initial DEX Offering, users are required to access the Listing section on the website. This process is a bit longer in contrast to token creation.
The users need to add their projects native token and set the desired supply for IDO. Furthermore, services including, launching token airdrop, and more are free. But the dex will earn a certain percentage in commissions through sales. The company also has their native digital asset called HOWL and is available at the most popular automated market maker, Pancake Swap.
Currently, a total of 10 Billion HOWL tokens are circulating in the market. Half of the tokens are designated for referral programs, 20% for marketing, 5% for project teams, and more. DexCoyote currently has over 70,000 users and 37,000 subscribers in their network.
DexCoyote has an interesting roadmap out of which several marks have already been achieved. This includes token release, reaching 50,000 holders, publication in Forbes and Bloomberg, and more. Now the company is eyeing a listing on CoinMarketCap and CoinGecko. Additionally they want to onboard 150,000 users on the network by Q1 2023.
The network team consists of some fine individuals including the founder Kirill Sagitov, Irene Malikova (Product Manager), Dmitry Filinov (backend developer), Mikhail Vinogradov (smart contract developer) and more.
2023 has not been kind to the traditional markets, especially the recent collapse of renowned financial institutions. This has lowered peoples trust on centralized entities. Crypto market being a decentralized space has attracted a lot of individuals in the sector, however, recent bloodshed in the sector has raised concerns regarding this industry too.
Satoshi Nakamoto brought the concept of Bitcoin in 2009 to eliminate centralization and give control back to the people. DexCoyote is contributing to this legacy alongside other projects in the market.
Any information written in this press release or sponsored post does not constitute investment advice. Thecoinrepublic.com does not, and will not endorse any information on any company or individual on this page. Readers are encouraged to make their own research and make any actions based on their own findings and not from any content written in this press release or sponsored post. Thecoinrepublic.com is and will not be responsible for any damage or loss caused directly or indirectly by the use of any content, product, or service mentioned in this press release or sponsored post.
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DexCoyote is Pushing New Projects Up by Offering IDOs in The ... - The Coin Republic
Mike Novogratz Says Its Time To Buy Gold And Bitcoin – UseTheBitcoin
It is time to buy gold and Bitcoin (BTC), according to Mike Novogratz, the CEO of Galaxy Digital. There are multiple issues that affected the markets in recent days, including the crisis that is affecting banks such as Silvergate Bank, Signature Bank and Silicon Valley Bank. In Europe, banks have also been affected, something that could continue in the coming days.
It seems to be time to buy gold, silver and Bitcoin according to Mike Novogratz, one of the largest supporters of the cryptocurrency ecosystem. During a recent conversation on CNBCs Squawk Box, Novogratz talked about banks, lending, the economy, and Bitcoin.
During the conversation, he compared the current situation in the market with 2018s rate hikes and how this could create a similar situation as back then. There is a combination of factors that are pushing the US economy into a credit crunch and that he believes are sending the US economy into a recession.
One of the ways to stop that is for the US Fed to stop hiking rates, otherwise, things could become more difficult for the economy. Additionally, he talked about how Bitcoin (BTC) and Ethereum (ETH), the two largest cryptocurrencies in the market, have been moving in recent weeks.
When he was asked about a possible contagion to other banks, Novogratz said that if the Fed does not do something more consistent there could be more problems with regional banks, which could add more pressure to the whole banking system.
At the same time, Novogratz talked about a credit crunch and the implications that this could have on the economy.
On that matter, Novogratz said during the conversation:
Now you have a market that is gonna go into a credit crunch. How do banks rebuild capital? They lend less. And so, you are gonna see a credit crunch happening in the United States. This is starting to get priced in the markets in a dramatic way.
Furthermore, he mentioned that he would be long Bitcoin, Gold and Silver. He said that Bitcoin was also created for these types of situations and environments. Lets not forget that while traditional financial markets have been moving lower, Bitcoin and other cryptocurrencies turned bullish.
After the most recent situation with banks and the current volatile environment in traditional financial markets, Bitcoin skyrocketed and hit $25,000. Now, the largest cryptocurrency in the world is being traded above $24,000 according to data shared by CoinGecko.
At the time of writing this article, Bitcoin registered 0.7% gains in the last hour alone, pushing its price to $24,750 in some cryptocurrency exchanges. With this price, Bitcoins market capitalization is currently at $477 billion, showing its strength as the largest and most robust digital asset in the market.
Bitcoin was created back in 2008 and released in 2009 by Satoshi Nakamoto during the banking crisis in the United States that then hit the whole world. We have seen Bitcoin surge to $20,000 in 2017 and then reach an all-time high of $69,000 in November 2021.
With the current situation in traditional financial markets, Bitcoin has been moving higher, showing that there is a clear interest from individuals and investors to get access to it in difficult times. Banks are now experiencing large pressure and might need the help of central banks in order to be able to redeem all funds.
When it comes to gold, its price has been moving higher in recent weeks, pushing its price to over $1,920 per ounce. This shows that there is a clear interest not only in Bitcoin but also in this precious metal, as explained by Mike Novogratz. With the current crisis in the banking sector, it might be better to keep value in gold or Bitcoin. However, things could change at any moment, as the government might decide to take a regulatory decision that could impact the markets.
It will be very important to see how this week will finish ad Credit Suisse has also been affected in Europe and Swiss authorities are being pressed to take the necessary actions and stabilize the current situation.
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Mike Novogratz Says Its Time To Buy Gold And Bitcoin - UseTheBitcoin