Blockchain Bites: Coinbase Surveillance, Bitcoin Wargames, CoinMarketCap Drama

Blockchain Bites: Coinbase Surveillance, Bitcoin Wargames, CoinMarketCap Drama

As bitcoin traders struggle to bust through $10,000, there’s a new claimant to the title of Satoshi Nakamoto. CoinDesk’s Markets Daily Podcast is back with your bitcoin news roundup.

For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.

This episode is sponsored by Bitstamp and Ciphertrace

Today’s bitcoin news:

As Bitcoiners Eye Inflation Boost, Wall Street Sees Barely Any for Five Years

Bitcoin’s Quiet Progress Is Pointing Toward a Better Future

Courtesy of CoinTelegraph: The Escobars Believe They’ve Found the Real Satoshi

Related: Bitcoin News Roundup for June 8, 2020

See also: The Power and Peril of the ‘Bitcoin Fixes This’ Meme

For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.

  • The Revolution Will Be Retweeted: The Breakdown Weekly Recap
  • The Biggest Realignment in the US-China Relationship Since Nixon, Feat. Graham Webster

Source: finance.yahoo.com

Author: Daniel Kuhn


bitcoin.com - CoinDesk

bitcoin.com – CoinDesk

Source: www.bit-cointalk.com


bitcoin.com - CoinDesk

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Bitcoin News Summary - June 8, 2020

Bitcoin News Summary – June 8, 2020



Coinbase is offering blockchain tracking software to US federal agencies. Public records revealed that Coinbase wants to sell its blockchain tracking service to the Internal Revenue Service as well as the Drug Enforcement Administration. This software will link blockchain addresses to real identities of US and non-US citizens based on publicly-available data.

Bitcoin mining company Bitmain’s co-founder Micree Zhan, who was kicked out of the company last year, hired a dozen security guards to take back control of Bitmain’s China office. Zhan recovered his status as legal representative of Beijing Bitmain last month. The news marks the latest twist in Bitmain’s bitter internal fight just days after they have released the newest Antminer T19 to its top ASIC lineup.

The well-known hip hop artist Akon has awarded a $6 billion contract to a firm to build his futuristic Akon Crypto City by 2029 in Senegal. If successful, the city will run entirely on renewable energy and will use its very own cryptocurrency called Akoin.

The Block revealed that 3.08 million Bitcoins are currently stored across the various exchanges. Coinbase is the largest store of client coins, with nearly 1 million BTC with Huobi, Binance, and OKEX together holding another 1 million coins. The total count of “exchange coins” is down roughly 10% since February. We recommend against storing your coins on exchanges, as a personal hardware wallet is much safer.

Before we conclude, this week’s “Bitcoin quick question” is what is double-spending?

Double-spending means the same funds, whether Bitcoin or a different type of digital currency, could be spent twice by the same holder.

When we transact using a bank wire or a credit card, we rely on centralized middlemen to ensure no double-spending occurs. With physical coins and banknotes, double spending is not possible as well, as the transaction occurs physically.

Cryptocurrencies however are registries in a digital, public accounting ledger, which is secured by achieving consensus between the network participants and without using a centralized entity in the process. Therefore, when each transaction is made, it must comply with the ledger’s rules or else it won’t be processed.

Double spending can still happen though. It could be due to a bug in the network’s code, an attack on the network’s consensus – also known as a 51% attack, or by tricking the other, uninformed party involved in the transaction.  If you want to learn more about double-spending, visit the link in the description.

Have a question you want us to answer? Just leave it in the comment section below. And if you want to support our videos, consider using the Brave browser for faster, ad free browsing that can also earn you rewards. Just visit the link in the description below.

That’s what’s happened this week in Bitcoin. See you next week.

Source: 99bitcoins.com


Bitcoin News Summary – June 8, 2020

Bitcoin News Summary – June 8, 2020



Coinbase is offering blockchain tracking software to US federal agencies. Public records revealed that Coinbase wants to sell its blockchain tracking service to the Internal Revenue Service as well as the Drug Enforcement Administration. This software will link blockchain addresses to real identities of US and non-US citizens based on publicly-available data.

Bitcoin mining company Bitmain’s co-founder Micree Zhan, who was kicked out of the company last year, hired a dozen security guards to take back control of Bitmain’s China office. Zhan recovered his status as legal representative of Beijing Bitmain last month. The news marks the latest twist in Bitmain’s bitter internal fight just days after they have released the newest Antminer T19 to its top ASIC lineup.

The well-known hip hop artist Akon has awarded a $6 billion contract to a firm to build his futuristic Akon Crypto City by 2029 in Senegal. If successful, the city will run entirely on renewable energy and will use its very own cryptocurrency called Akoin.

The Block revealed that 3.08 million Bitcoins are currently stored across the various exchanges. Coinbase is the largest store of client coins, with nearly 1 million BTC with Huobi, Binance, and OKEX together holding another 1 million coins. The total count of “exchange coins” is down roughly 10% since February. We recommend against storing your coins on exchanges, as a personal hardware wallet is much safer.

Before we conclude, this week’s “Bitcoin quick question” is what is double-spending?

Double-spending means the same funds, whether Bitcoin or a different type of digital currency, could be spent twice by the same holder.

When we transact using a bank wire or a credit card, we rely on centralized middlemen to ensure no double-spending occurs. With physical coins and banknotes, double spending is not possible as well, as the transaction occurs physically.

Cryptocurrencies however are registries in a digital, public accounting ledger, which is secured by achieving consensus between the network participants and without using a centralized entity in the process. Therefore, when each transaction is made, it must comply with the ledger’s rules or else it won’t be processed.

Double spending can still happen though. It could be due to a bug in the network’s code, an attack on the network’s consensus – also known as a 51% attack, or by tricking the other, uninformed party involved in the transaction.  If you want to learn more about double-spending, visit the link in the description.

Have a question you want us to answer? Just leave it in the comment section below. And if you want to support our videos, consider using the Brave browser for faster, ad free browsing that can also earn you rewards. Just visit the link in the description below.

That’s what’s happened this week in Bitcoin. See you next week.

Source: dailybitcoinnews.com


Bitcoin’s March to $100K: A Number of Crypto Experts Who Believe the Price per BTC Touches Six-Digits

Bitcoin’s March to $100K: A Number of Crypto Experts Who Believe the Price per BTC Touches Six-Digits

A number of analysts believe that at some point in the future, Bitcoin prices will touch the six-digit zone or $100,000 or more per unit. This price point has been predicted by a variety of experts and analysts including the stock-to-flow (S2F) proponent Plan B, financial analyst Peter Brandt, the popular crypto trader Theta Seek, Blockfyre’s Simon Dedic, and Morgan Creek CEO Mark Yusko.

There are a number of industry insiders, experts, and analysts who think the price of bitcoin (BTC) could easily reach $100,000 or more per coin. On June 4, 2020, Simon Dedic, the cofounder of crypto-analysis firm Blockfyre estimates that BTC will touch a high of $150K.

Dedic’s tweet forecasts a number of price predictions including BTC ($150K), ETH ($9K), LINK ($200), BNB ($500), VET ($1) and XTZ ($200). The Blockfyre cofounder is not the only crypto industry executive who thinks BTC will reach the six-digit price range at some point in the future.

On June 5, the popular trader Theta Seek told his 5,528 Twitter followers that BTC could touch $100K, but there needs to be $90M in investments per day. “At 100K per BTC, the market has to absorb a miner supply of $90 Million USD daily,” Theta Seek explained in his tweet.

“Assuming that there are 10 million people worldwide buying BTC on a regular basis. It would cost them each $9 daily to sustain those price levels. I’ve met people who spend more than $9 on coffee,” the trader added. Further, one person replied to Theta Seek and said: “When the price gets high there is a lot more supply than just miners.” The traders responded by stating:

Data suggests otherwise though, HODL-ers throughout the past 3 ATHs have not been selling in significant portions. 60% of BTC has not moved for more than 2 years. Even if that were to be true, the long term supply of BTC will eventually be equal to the mining (new) supply.

There have been many others who claim that it is possible BTC could touch $100K per coin. During a May 6, 2020 interview, the CEO of capital management giant Morgan Creek, Mark Yusko, explained that BTC could easily reach $100K in 2021 or 2022. During the discussion, Yusko also said BTC could reach $400 to $500K as well. Yusko stated at the time:

If we come to gold equivalence, meaning the market cap of Bitcoin equals the market cap of gold, which I think is perfectly logical, you could easily see that $400,000 to $500,000 price [at] some [point in time].

Even though the analyst and popular financial trader, Peter Brandt, recently tweeted that the Bitcoin halving was “grossly over-rated,” he has stated that BTC could touch six-digits as well. This was mentioned during Peter Brandt’s Crypto Update on December 5, 2019.

In the video update, Brandt said that at some point BTC will march toward the $100K region, but the crypto asset’s market cycle would be bearish first. Brandt noted that BTC was at a crossroads and said that by July, in 30-days, the price could bottom out. However, Brandt’s prediction was well before the Covid-19 outbreak and the ‘Black Thursday’ event on March 12, 2020.

There are so many people that believe BTC could very well touch the six-digit range at some point including Morgan Creek’s executive Anthony ‘Pomp’ Pompliano, Plan B (@100trillionUSD), Pantera Capital, crypto analyst Nicholas Merten, venture capitalist Tim Draper, and RT host Max Keiser.

Moreover, the question of whether or not BTC could reach $100K per unit has been asked for many years now. It seems that many crypto-asset investors and old school bitcoiners do believe that at some point in time, BTC will be priced at $100,000 per coin.

At the time of publication, BTC is trading between $9,600 to just above the $9,700 per coin zone and the crypto economy is worth $275 billion on Monday. Most crypto assets on Monday are up between 1-4% depending on the coin. 24-hour global trade volumes have dipped over 4% but there’s still around $18.1 billion in global crypto swaps today according to market stats.

Do you think BTC will reach $100k per coin? Let us know in the comments below.

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.

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Source: bitcoinrecent.com

Author: by admin


Blockchain Bites: Coinbase Surveillance, Bitcoin Wargames, CoinMarketCap Drama


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