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Bitcoin rally only of short duration? Google search trends draw bearish outlook

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For many Bitcoin enthusiasts, the flagship of the crypto currency has arrived on Wall Street with aplomb.

Buying a Bitcoin now costs around $14,500 – about twice as much as at the beginning of the year. This is also the highest level since January 2018, when the crypto currency was revised downwards from its record high of almost $20,000 the previous month.
Bitcoin is approaching a value of almost $14,500 in its most recent rally on Thursday morning. Source: BTCUSD on TradingView.com
Many analysts agree that Bitcoin’s renewed price rally has to do with the growing demand from investors for safe investments. Some, including Bloomberg, even believe that the crypto-currency will rise again to $20,000 by the end of this year – due to exploding federal deficits caused by trillions of dollars in government spending and inflation fears.

Bitcoin cheerleaders have long projected the coin as the ultimate hedging tool against fiat money, as it has a definitive supply cap of 21 million tokens. As individual mainstream companies have decided to replace part of their cash reserves with Bitcoin, the thesis has gained enormous traction through social media.

Unfortunately, the same enthusiasm is not evident in Google Trends.

The latest data from the world’s largest online search engine shows a lack of Bitcoin interest among everyday Internet users. On a scale of zero to 100 over a five-year period, Bitcoin scores 9 points. If the period is changed to 12 months, the value rises to 63.

In contrast, the trend value of Bitcoin was 100 in December 2017, when the crypto-currency was approaching $20,000. Most of the sentiment Bitcoin Billionaire mentioned above was related to the fact that BTC was the first booming coin.

Start-ups raised funds in BTC by posing as the next block-chain unicorns and getting ordinary citizens to look for ways to buy Bitcoin.
The search for the keyword „Bitcoin“ remains low despite the enormous interest at the macro level. Source: Google Trends
The boom ended with a major collapse, as most of these projects failed or turned out to be fraudulent. As a result, Bitcoin fell 84 per cent from its $20,000 high.

The same happened with its Google trend score, which plummeted from „100“ in December 2017 to „5“ in November 2018.

In contrast, Bitcoin’s main hedging rival, gold, recorded a steady trend. Its values fluctuated between „82“ and „51″“ – mostly over a period of five years. Over the last 12 months they have remained stable above ’71‘.

Interestingly, in the week from 10 to 16 May 2020, Bitcoin reached a perfect ‚100‘ within a 12-month time frame. This step coincided with the third „halving“ of the crypto currency – an event that periodically reduces their daily supply by half, further exacerbating their scarcity against the fiat currencies.

At least some good news for Bitcoin
Hans Hauge, head of quantitative strategy at Ikigai Asset Management, considers the absence of „Bitcoin“ interest against the rising price to be good news. He comments that the lower values for the keyword „Bitcoin“ show that the crypto currency has matured.

„This is not the peak of a bubble-induced mania, it is orderly and calm,“ Hauge said when comparing the 2017 trend with the current one. And:

„The next peak in Google Trends will make the last one look like nothing.“

Bitcoin et Altcoins fluctuent au milieu des résultats des élections américaines

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Bitcoin et Altcoins fluctuent au milieu des résultats des élections américaines
Le prix du Bitcoin se consolide au-dessus du support de 13650 USD et en dessous de 14000 USD.

Ethereum a toujours du mal à dégager 385 USD, le XRP a reculé et a testé 0,235 USD.

HEDG détient des gains supérieurs à 0,715 USD et ABBC est en hausse de plus de 17%

Après un pic au-dessus du niveau de 14000 USD, le prix du bitcoin a entamé une correction à la baisse à court terme. La BTC s’est échangée en dessous du niveau de 13 800 USD, mais le prix est resté stable au-dessus de 13 650 USD et 13 500 USD. Le prix est actuellement (13h00 UTC) en train de se consolider et il semble se préparer au prochain mouvement au milieu des résultats des élections américaines .

De même, il y a eu des mouvements de gamme dans la plupart des principaux altcoins, y compris ethereum, XRP, litecoin, EOS, XLM, LINK, BNB, TRX, bitcoin cash et ADA. L’ETH / USD fait face à une forte résistance près de 385 USD, mais les haussiers protègent 380 USD et 378. Le XRP / USD a reculé sous 0,238 USD et teste maintenant la zone de support de 0,235 USD.

Capitalisation boursière totale

Au cours des deux dernières sessions, le prix du bitcoin s’est principalement échangé dans une zone haussière au-dessus des niveaux de support de 13 650 USD et 13 500 USD. Il semble que la BTC se prépare peut-être au prochain mouvement majeur, avec une résistance immédiate à 13880 USD. La première résistance majeure est proche de 14 000 USD, au-dessus de laquelle les haussiers pourraient viser une hausse de 5% à 6%.

S’il n’y a pas de cassure haussière au-dessus de 13 880 USD et 14 000 USD, le prix pourrait reculer. Un support initial est proche du niveau de 13 650 USD, en dessous duquel les taureaux doivent défendre 13 500 USD.

Prix Ethereum

Le prix Ethereum fait face à un fort intérêt de vente proche des niveaux de 385 USD et 386 USD. La prochaine résistance majeure est proche du niveau de 392 USD, au-dessus duquel les haussiers pourraient viser une nette cassure au-dessus des niveaux de résistance de 400 USD et 402 USD.

À l’inverse, il pourrait y avoir une forte réaction baissière sous les niveaux de 378 USD et 375 USD. Le premier support clé est proche du niveau de 372 USD. Toute perte supplémentaire pourrait conduire le prix vers 365 USD.

MakerDAO’s flash loan could weaken tokenized governance

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A recent MakerDAO governance vote was influenced by a flash loan.

The Maker community offered to burn MKRs to prevent this type of incident from happening again.

The systems for many DeFi protocols remain centralized, although they claim the opposite

The Trust Project is an international consortium of news organizations based on transparency standards.

Decentralized funding protocols strive to gain recognition of governance tokens. However, new forms of weakness are appearing in the system, and MakerDAO is the latest “victim”.

A recent vote on the governance of Immediate Edge was marred by a flash loan that allowed a dominant party to influence the outcome and pass the proposal. The team that made the proposal essentially wanted to whitelist access to MakerDao’s course oracle, and therefore took out a flash loan to manipulate the process.

A flash loan is a loan that is taken out and repaid during the same transaction. It has been used in the past to conduct arbitrage trades , most recently on Harvest Finance. In this case, the flash loan was used to influence the token governance vote.

The team detailed these maneuvers on the protocol blog , with the following question: Should the Maker community burn affected MKRs in the event of a governance attack that leads to a redeployment of the protocol?

Does token governance really work?

A DeFi platform named Protocol B wanted to be whitelisted and therefore submitted the proposal on October 23. On the 26th, several transactions took place, allowing the team to secure enough crypto collateral to borrow $ 7 million in MKR, which was used to vote and pass the proposal before being repaid.

While it was not entirely malicious, as the team was transparent in its actions, the move reignited the debate on token governance. Maker has thus launched another proposal to prevent any further exploitation of flash loans.

The purpose of this message is to discourage holders of large amounts of MKR from providing MKR liquidity on lending platforms and AMM platforms until Maker’s governance contracts can be replaced with versions that cannot be attacked by flash loans.

Chris Blec, a finance industry insider who had previously criticized token governance, was just as vehement in the face of this new fiasco.

What a mess.

With each passing day, I am more and more skeptical of tokenized governance.

It’s time for us to start testing tokenless governance. And to reward users who continuously use the product with non-transferable votes.

Less favors for the whales. Power to users.

Power to the whales

The first Uniswap governance vote was also marred by controversy. Its author, Dharma, was one of the biggest carriers of tokens. At the time, he wanted to reduce the quorum, which would give him even more control over the voting process.

Fortunately, in the interest of further decentralization, the proposal did not meet a quorum. She nevertheless garnered 98% of the vote (from a handful of whale accounts).

Other protocols that claim to be decentralized, such as SushiSwap, are also governed by whale accounts. This raises questions about the effectiveness of tokenized governance systems.

As BeInCrypto has previously reported, most DeFi governance systems mirror those of corporations , with large carriers acting as leaders and CEOs.

¿EOS alcanzará los $ 3 una vez más?

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EOS se negocia dentro de una cuña descendente a corto plazo.

El precio se negocia entre soporte y resistencia a $ 2,50 y $ 2,95, respectivamente.

EOS / BTC se ha roto desde un nivel de soporte crucial a largo plazo

¿Quieres saber más? ¡Únase a nuestro Grupo de Telegram y obtenga señales comerciales, un curso comercial gratuito y comunicación diaria con los fanáticos de las criptomonedas!

Trust Project es un consorcio internacional de organizaciones de noticias que construyen estándares de transparencia.

El precio de EOS ha salido de una línea de resistencia descendente, pero no se movió hacia arriba después. Sin embargo, el gráfico a corto plazo muestra un patrón alcista, del que es probable que se produzca una ruptura.

¿Fuga o Falsa?

El precio de EOS ha estado cayendo junto a una línea de resistencia descendente desde el 16 de agosto, cuando alcanzó un máximo de $ 3,95.

El 7 de octubre, el precio supuestamente se separó de esta línea de resistencia, pero creó una mecha superior larga y luego cayó por debajo de ella.

Desde entonces, el movimiento se asemeja a una ruptura débil y una nueva prueba de la línea junto con el área de $ 2.50 como soporte. Si es así, el precio debería continuar moviéndose hacia arriba, hacia los niveles de resistencia más cercanos que se encuentran en $ 2,95 y $ 3,50.

Los indicadores técnicos son neutrales, lo que hace posible tanto un repunte como un descenso. Sin embargo, siempre que el precio se cotice por encima de los 2,50 dólares, el escenario más probable sería un repunte hacia el nivel de resistencia descrito.

El gráfico de 2 horas a corto plazo muestra que el precio posiblemente se esté negociando dentro de una cuña descendente, que se considera un patrón de reversión alcista.

Además, el RSI ha formado una divergencia alcista durante los dos toques más recientes de la línea de soporte, y el MACD ha cruzado a territorio positivo.

Una ruptura de la cuña probablemente llevaría el precio a $ 2.72, a la mitad del área de resistencia mencionada anteriormente en $ 2.95.

Por otro lado, una ruptura de la cuña invalidaría esta posibilidad alcista.

Bruno Le Maire associates cryptos and terrorism … And gets tackled in return

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Finance Minister Bruno Le Maire has once again made a link between cryptocurrencies and terrorist financing. But this time, he got tackled by Cyril Paglino, the creator of Starchain Capital.

The Minister of Finance spoke on the subject of cryptocurrencies on the set of Dimanche en politique on France 3. Asked about the financing of terrorism , Bruno Le Maire points to a ready-made culprit: cryptocurrencies.

Bruno Le Maire unfolds a scenario where a radicalized person would finance Islamist associations abroad:

“I’ll give an example: cryptocurrencies. You can go and collect 150 euros in a tobacco bar, then 150 euros in another tobacco bar, ultimately collecting a large sum […] that an Islamist association or a fighter located abroad can withdraw in cash , abroad without any trace . “

Willingly or not, the Minister of Finance does not bother with details. In his scenario, it is possible to cash out cryptocurrency anywhere in the world. In practice, this is of course not the case. In addition, companies that allow Bitcoin (BTC) to be purchased in the form of coupons in tobacco shops … Have particularly thorough identification measures , so there is no anonymity when buying cryptocurrencies from this way.

It will also be recalled that for the moment, only Bitcoin Loophole is accessible by this means. And it is by nature very traceable, since all transactions are recorded in a distributed ledger . In the event that a person managed to buy Bitcoin anonymously, the transaction would still be visible.

The reality is more complex

The Minister of Finance concludes, however:

“Cryptocurrencies pose a real problem in the financing of terrorism, I have been saying this for years.“

Except that the reality is much more mixed. If terrorist groups have shown an interest in cryptocurrencies, they are not really using them for the moment , because they remain difficult to convert into fiat. Most of the time, these are assumptions on the part of politicians, who believe that terrorist groups could use cryptocurrencies heavily in the future. Like a year ago, when the Secretary General of the Treasury of the United States explained at a conference :

“ Although most terrorist groups rely primarily on the traditional financial system and cash to transfer their funds, cryptocurrencies could become the new frontier .”

Cyril Paglino tackles Bruno Le Maire

This is what displeased Cyril Paglino. The former Secret Story participant made a name for himself in the French-speaking crypto sphere by founding Starchain Capital and by participating in the development of the startup incubator The Garage .

On Twitter, he explained to Bruno Le Maire the limits of his argument:

As the crypto community keeps repeating, cash is not banned, on the pretext that it is almost untraceable and that it can be traded freely. Why then want to do it with cryptocurrencies?

Paglino also recalls that the classic financial system, including large banks, has rather dirty hands when it comes to the financing of terrorism:

So yes, it is important to prevent terrorist groups from financing themselves as much as possible. But to mention cryptocurrencies as a major axis of terrorist financing is simply wrong. So is it really a desire to prevent the financing of terrorism, or a way to point the finger at an easy target? After all, cryptocurrencies are just starting to shed their bad reputation.

We can therefore doubt the effectiveness of this type of maneuver on the financing of terrorism. And regret once again the lack of openness of Bruno Le Maire and the French government in the area of cryptocurrencies.

China’s IT Ministry worries about data protection at first „blockchain hospital“

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China’s IT ministry still has some concerns about „blockchain hospital“.

China’s first “blockchain hospital” is scheduled to open in 2021, but some members of the government are now expressing concerns about data protection

According to Cn-Healthcare , the First Affiliated Hospital of Dalian Medical University plans to start a corresponding pilot program from January 2021. The blockchain technology is to be used in the course of this to save patient data and treatment data.

The blockchain platform used is intended, among other things, to enable patients to access a so-called „Internet hospital“ via the WeChat app, which is very popular in China. One of the goals of the program is to make administrative processes increasingly contactless, which is all the more important due to the ongoing Corona crisis.

However, several members of the Chinese Ministry of Information Technology have concerns about the security of the blockchain application and also see data protection at risk.

Niu Tie, the director of the hospital, replied:

“Our IT department is under a lot of pressure from the government. As one of the leading hospitals in our region, we can assure you that we made our decisions with great caution. In addition, the data protection regulations are very strict anyway. The IT ministry has checked our blockchain application with regard to data security and also made specifications for development. “
As Niu states, the ministry has made it a condition that data can be verified and that it can be securely stored, transferred and accessed.

The ministry’s concerns may well stem from the fact that patient and treatment data is stored on WeChat’s blockchain network. Hospital management and the IT ministry now want to discuss in further discussions how security and data protection can best be guaranteed.

China is actually known as a surveillance state , which makes the government’s current concerns contradicting and almost unreliable.

However, the “Middle Kingdom” is very benevolent of blockchain technology, because in 2020 alone, Chinese companies are said to have submitted more than half of all blockchain patents worldwide . Even China’s President Xi Jinping has already publicly praised the technology .

1,5 miljardin dollarin arvoinen Bitcoin Mt. Gox-hakkerointi saattaa herättää salausmarkkinoita

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Surullisen Mt. Gox-hakkerointi vuonna 2014 on tarkoitus saada ennätykselliset 150000 Bitcoin-korvausta lähikuukausina. Mutta se voi aiheuttaa myyntipaineita, koska jotkut saattavat kotiuttaa voittonsa.

Lyhyt Mt. Gox-tarina
Lyhyenä taustana Japanissa sijaitseva Mt. Gox oli aikoinaan planeetan suurin salausvaihto: Sen sanotaan käsitteläneen yli 80% kaikista Bitcoin-tapahtumista alkuvuosina.

Mutta massiivinen 740 000 Bitcoin-hakkerointi vuonna 2014 – yli 6% Bitcoin-tarjonnasta tuolloin – johti pörssin konkurssiin ja vuosien oikeustapausten alkamiseen entistä toimitusjohtajaa Mark Karpelèsiä ja pörssiä vastaan. Hakkeroitujen varojen arvo oli yli 14 miljardia dollaria vuoden 2017 joulukuun hintoihin.

Entinen Mt. Goxin toimitusjohtaja Mark Karpeles. Kuva: Fortune
Vaikka 200 000 Bitcoinia lopulta palautettiin, jäljellä olevien 650 000 olinpaikka on edelleen mysteeri. Japanilaisen lain ja täältä saatavien tapausten mukaan velkojat joutuivat kuitenkin saamaan palan menetetyistä varoistaan massiivisesti paisutettuihin hintoihin – ja lähes välittömän voiton vuosien odottamisen jälkeen.

Palautettu Bitcoin hyvitetään pian
Kuten kohti Tokion käräjäoikeuden asiakirjaa ja Mt. Gox Rehabilitation Trustman, kaikkien Mt. Goxin uhrien oletetaan saavan uuden päivämäärän varoille, jotka he menettivät vaihdossa.

Varojen piti aikaisemmin palauttaa 1. heinäkuuta, mutta tuomioistuimen istunto viivästytti sitä lokakuun päivämäärään (uuden kuntoutussuunnitelman jättämiseksi) sen jälkeen, kun Nobuaki Kobayashi, Mt. Goxin edunvalvoja toimitti pyynnön, joka vaati uutta jatkoa Bitcoin-ratkaisulle.

Kuva: Mr.Whale Twitterin kautta

Ehtojen mukaan velkojat on asetettu saamaan kumulatiivisesti yli 150000 Bitcoinia (lähes 1,5 miljardia dollaria nykyisillä koroilla). Ja jos oletetaan, että alkuperäiset ostokustannukset ovat noin 400 dollaria ja 20%: n palautumisprosentti, jokainen velkoja asetetaan saamaan ylimääräinen 2000 dollaria Bitcoinin hinnankorotuksen perusteella salausvaihto Bybitin mukaan.

„Vaikka jotkut näistä velkojista voivat halutessaan omistaa, toiset myyvät väistämättä yli 300 prosentin voitolla“, pörssin analyytikot lisäsivät.

Sillä välin „Mr.Whale“, tuntematon, suosittu Twitter-tili, joka jakaa pitkäaikaisia puheluita ja oivalluksia salaustuotemarkkinoilla, punnitsi aihetta twiitin kautta:

„Jos 150 000 BTC: tä myydään markkinoilla, se aiheuttaisi raa’an pudotuksen ja pelko leviäisi nopeasti markkinoille.“
Ja vaikka Mt. Goxin uudelleentarkastelun uusi päivämäärä 15. lokakuuta saattaa lykätä mahdollisia myyntejä, merkittävä myyntipuoli voi jopa olla Bitcoin Future ja laajempien salausmarkkinoiden korteissa sen jälkeen, kun velkojat ovat saaneet varoja.

Bitcoin had two obsolete blocks in a single day; which means

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Obsolete blocks sometimes appear. But two together is rare.

Bitcoin had two obsolete blocks in the blockchain on Tuesday (29), according to an analysis by BitMEX Research. The two obsolete blocks were found at the time of blocks 650.473 and 650.491, respectively.

This is not a common occurrence. One obsolete block happened in July, and two more came in August. Although not particularly dangerous, there are some ways in which they may slightly affect the network. But it is rare that they appear so often.

Obsolete blocks do not indicate anything disastrous in the blockchain, but they do indicate poor network propagation. In other words, an obsolete block „results in wasted work, less proof-of-work, which can make the network cheaper to attack,“ a BitMEX Research spokesman told Decrypt.

He added that obsolete blocks can „benefit larger mining companies by increasing the pressure of centralisation.

What are obsolete blocks?

Obsolete blocks are valid blocks that almost become part of the blockchain – but they narrowly lose. The Bitcoin Revival blockchain operates on an underlying rule that wins the longest chain. As several competing chains receive blocks, they increase in length, all competing to become the longest. During this competition, some blocks on a shorter chain can be left behind, creating obsolete blocks.

One of the potential risks of obsolete blocks is that they can cause twice as much expenditure. On 27 January 2020, a double spending of US$3 occurred on an obsolete block, the first obsolete block in the Bitcoin blockchain since October 2019. But it is very unlikely that it was a purposeful attack.

It is unlikely that double spending as a result of an obsolete block has a malicious intent. Double spending usually does not offer much financial reward, making it a vulnerability far from attractive to evildoers. In addition, the distributed nature of blockchain technology means that the success of an attack would depend on controlling 51% of the network’s mining hash rate, making these types of attacks almost impossible.

„Obsolete blocks are very rare, so it’s probably not worth an attacker’s while trying to make a double expense if they show up,“ BitMEX Research told Decrypt.

There are many potential attacks to worry about in the world of cryptomorphs, but the possibility of obsolete blocks is not one of them.

Twitter-CEO akzeptiert Bitcoin und Blockchain

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Twitter-CEO akzeptiert Bitcoin und Blockchain sind die Zukunft von Twitter

Twitter-CEO Jack Dorsey unterstützt Bitcoin schon seit langem und erhebt kontinuierlich seine Stimme für Bitcoin und Blockchain.

Anfang dieses Monats sagte Dorsey, dass Bitcoin die beste einheimische Währung laut Bitcoin Revolution sei, da sie die vertrauenswürdige Währung des Internets sei. Er hat sogar behauptet, dass sie das Potenzial hat, bis 2030 die einzige Kryptowährung zu werden.

Vortrag auf dem Osloer Freiheitsforum

In seinem Vortrag auf dem virtuellen Oslo Freedom Forum ist der Twitter-CEO so weit gegangen, dass er Bitcoin und die Blockchain-Technologie für die Zukunft von Twitter hält.

„Blockchain und Bitcoin weisen in eine Zukunft und weisen auf eine Welt hin, in der Inhalte für immer existieren, in der sie dauerhaft sind, in der sie nicht verschwinden, in der sie auf jedem einzelnen Knoten, der mit ihnen verbunden ist, für immer existieren“, sagte er im Gespräch mit Thor Halvorssen, dem Präsidenten der Human Rights Foundation.

Er sagte, Bitcoin habe die Funktion, „ein vertrauenswürdiges System in einer misstrauischen Umgebung, nämlich dem Internet, zur Verfügung zu stellen“. Ihm zufolge rekrutiert seine Non-Profit-Organisation Blue Sky „ein Team von bis zu fünf Architekten, Ingenieuren und Designern“, um neben dem Twitter-Protokoll eine Blockchain-Plattform zu entwickeln. „Das Ziel ist, dass Twitter letztendlich ein Kunde dieses Standards wird“, sagte Dorsey. Er fügte hinzu: „Wir werden uns darauf konzentrieren, ein Kunde davon zu werden, damit wir einen überzeugenden Service und ein Geschäft aufbauen können, auf das jeder zugreifen und zu dem jeder beitragen kann.

📰 MyEtherWallet hat EthVM, einen Open-Source-Blockchain-Explorer, auf den Markt gebracht
Dorsey strebt Dezentralisierung an

Nach der jüngsten Sicherheitsverletzung durch Twitter hat Dorsey seine Stimme für die Dezentralisierung erhoben, als er sagte: „Das sieht man am grundlegendsten in Bitcoin und in Blockchain. Die Schlüssel werden laut Bitcoin Revolution mehr und mehr in den Händen des Einzelnen liegen“. Durch den Hack von Twitter bekamen Hacker die Kontrolle über die Twitter-Accounts von Spitzenpersönlichkeiten wie Elon Musk und Bill Gates.

„Sicherheit ist nichts, was jemals perfektioniert werden kann, es ist ein ständiger Wettlauf“, sagte Dorsey bei der virtuellen Veranstaltung. „Je mehr wir dem Einzelnen die Schlüssel geben, desto sicherer werden wir sein.“

Das Zahlungsunternehmen Square of Dorsey fordert auch andere Kryptowährungsunternehmen auf, einer Allianz beizutreten, die als Cryptocurrency Open Patent Alliance (COPA) bekannt ist.

According to this indicator, price will rise again

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The current price for one Bitcoin (BTC) is currently $10,710.91.  That’s -0.23% more than 24 hours ago. If you now want to buy bitcoin for $100 you will get about 0.0093 BTC for this.

The total market cap is $198,193,800,345.38 with a circulation of 18,503,918 BTC.

Also take a look at our Telegram channel and talk about the news!
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The development of the Bitcoin protocol: Github, donations and developers

For the past month, bitcoinmagazine.nl has been focusing on the basics of Crypto Cash every day. From explanations about the blockchain, nodes, miners to articles about history, scalability and privacy. In this section, we look at the development of the protocol. How does it work? How will Bitcoin Core be improved?

The development of the Bitcoin protocol is different than in a typical ‚cryptoproject‘. There are often big bags of money behind it that fund the project. Whether it’s an ICO, a pre-mine or a venture capitalist investing in the company or foundation, there’s money on the shelf.

Bitcoin is decentralized, hasn’t had an office, CEO or ICO. It had the most neutral start imaginable. Satoshi, out of his own conviction, started something new from 0. And that has grown into a protocol worth almost $200 billion.

Because Bitcoin is decentralized, developments are slow. Or is that the wrong word and should you call it ‚conservative‘?
Bitcoin fund of Bitwise doubles in one year to $9 million

Bitwise’s Bitcoin (BTC) fund has doubled in size over the past year. Interest from accredited investors worried about inflation getting out of hand has increased. They have deposited new millions into the Bitwise fund.

The Bitwise Bitcoin Fund grew to almost $9 million last year. They should report this to the Securities and Exchange Commission (SEC).

The fund offers accredited U.S. investors the opportunity to be exposed to Bitcoin through a traditional financial product. It offers investors benefits including management and storage.

In 2019, the Bitwise Bitcoin Fund raised a total of $4.1 million in investments. In the past year, the size has more than doubled.
According to this indicator, the Bitcoin price is on the verge of rising

It’s time for another portion of hopium. Because according to two indicators, the Bitcoin (BTC) price is fine. What’s more: if history repeats itself, a sharp rise is imminent.

On 28 September, market researcher Glassnode shared an important indicator: Bitcoin’s difficulty ribbon compression has broken out into a ‚buy signal‘.

This indicator tells something about: the difficulty of the minus, but also whether miners have trouble being profitable or not.

The graph below shows the following:

  • black line: the price of Bitcoin;
  • orange line: the Difficulty Ribbon Compression;
  • green areas: moments when the indicator is below 0.05.

The orange line is a compression of multiple averages. The lower this number, the closer these averages are to each other and the clearer the trend reversal is.

As can be seen in the graph, the indicator is above this 0.05. What does that say exactly?

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