This week Brexit finally happened, CoronaVirus spread, and the US offered oil to Belarus when Russian negotiations failed. But perhaps the most important question on the world’s lips followed singer Dua Lipa’s visit to a strip club after the Grammy’s event. Can a feminist visit a strip club?… and does it make a difference if she pays in bitcoin?
Bitcoin Price: What A Difference A Week Makes
After the ‘Meh…’ of last week, this week saw bitcoin price gain a grand and make it look easy.
There was no rollercoaster; no huge green candles pushing to the sky only to have gains all-but obliterated in the next hour. Just a steady tempered climb throughout the week; a technique which one would argue works rather well.
Momentum seems to be building towards a traditionally bullish February. This should compound on gains already made in the usually quiet January, when Bitcoin (and Tesla) added 32%. Another 11 months with similar gains would see BTC hit $152k by the end of 2020.
Gains were led by an inflow of $17 billion into the cryptocurrency market in just 48 hours. By midweek, we were seeing three-months highs and discussing $10k again.
Fundstrat’s Tom Lee confirmed (for what seems like the umpteenth time) that bitcoin is entering a bull market again. And analysts gave the (slightly less exciting) prediction of $28k in the next six months.
Price peaked in Friday at around $9,500 although has levelled of at around $9,300 since then.
Decentralized Finance
Crypto-lending has been crowned the industry’s most profitable sector after explosive growth in numbers over the past couple of years. Although Ethereum founder Vitalik Buterin admitted he still cringes when he hears the misuse of the term ‘loan’.
So with decentralized finance (DeFi) booming hard, when would the ETH price rally to reflect this?
Well, it did a fairly decent job this week. Analyst had their eyes on a target of $180, which ETH blasted straight through. At time of press the price of one Ether is over $190, also helped by news that energy giant BP is sponsoring next month’s ETHDenver event.
Bitcoin Ransomware Resurgence
A report suggested that over half of all public and private organizations in the US had fallen victim to ransomware in 2019.
This week it was the turn of a California school district, which had servers and a phone system shut down by ransomware attackers demanding bitcoin.
A Senator in Maryland introduced a bill to make possession of ransomware illegal other than for security research purposes.
New York State Senators have meanwhile been drafting bills to outlaw the payment of ransomware attackers with tax-payers money.
News In Brief
The second iteration of the Bitcoin Lightning Torch has had quite an unfortunate first week, being stolen 4 times already. Torch bearers were left holding the bill, and must adapt their trust model, if the effort is to succeed like last year.
After quite literally removing his skin from the game when it comes to Bitcoin predictions, John McAfee has turned his attention to bashing his former muse. This week he labelled BTC the ‘true shitcoin’ while claiming the future of crypto lies with (unspecified) altcoins.
French football team, Paris Saint Germain, hit the crypto headlines twice this week. Firstly announcing a partnership with the CoinCasso exchange, and then when its fan-tokens finally went on sale.
The Bitcoin Cash network stopped producing blocks for over five hours this week, and without creating a significant transaction backlog.
Could Google be following Facebook on a path towards crypto? This week we found that the company had taken on an ex-Ripple employee to help revamp its Chrome payments system.
Facebook itself seemed to be taking a step backwards, as reports suggested that crypto-related links were being censored again in its Messenger app.
Cambodia is the latest nation to move towards launching a central bank digital currency (CBDC), despite the fact that cryptocurrency is illegal in the country. Lithuania has also been considering the practicalities of launching a CBDC this week.
And Finally…
Tron Supremo Justin Sun certainly had his (shilling) hat on this week… or was he just genuinely paying tribute to a basketball legend who had tragically died?
Nobody could be quite sure, but there were plenty who assumed he was using Kobe Bryant’s death as an opportunity to shill this year’s upcoming niTROn conference.
To be fair to Sun, Bryant had attended 2019’s niTROn event, discussing the future of blockchain on stage with Sun himself.
But by now, Justin is so far down the ‘shilling’ rabbit hole, that it is questionable whether anyone can discern when he is being genuine. Even him.
What was your favorite story this week? Let us know in the comments below!
Images via Shutterstock The post appeared first on Bitcoinist.com. origin »
Artificial intelligence is perhaps one of the most groundbreaking technologies in recent decades. However, there are still plenty of concerns as to how this industry will evolve. In fact, various MIT professors confirm that the US is potentially falling behind the rest of the world.
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If 2019 is to be described in one word, it is perhaps that of clarity. Clarity on Britain’s role in the world, clarity on whether trumponomics should be given a...
The post 2019, The Year That Was appeared first on Trustnodes.
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In the world of altcoin trading, there is perhaps nothing more concerning to traders than being unknowingly caught up in a ‘pump and dump.’ Usually, these schemes result in a cryptocurrency or low market cap asset rapidly multiplying in value, before crashing suddenly back to the original value or lower, leaving some investors stuck with […]
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The bankruptcy of Thomas Cook, the oldest travel company in the world, caused panic in the entire travel industry. But, perhaps, a tour operator in debt of 2 billion euros is only the first sign that marks the beginning of the collapse of the British economy as a result of a divorce from the European […]
The world’s second-largest cryptocurrency and perhaps the largest smart contracts platform has been performing well beyond expectations, especially over the last few days. Ethereum is the biggest altcoin, both in terms of market cap and liquidity, and has been rallying against BTC while other altcoins are slowly starting to follow suit.
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Beyond Meat has taken the world by storm. Its signature “bleeding” burger manages to resemble that of real meat and has become a menu item at a number of restaurants, from TGI Friday to Carl’s Jr.
Bitcoin and poker have a history that stretches back to the very start. Perhaps, even, to before the start of Bitcoin as we know it, for there is evidence that Satoshi had a background in poker. What’s beyond dispute is that in March 2010, the world’s first bitcoin poker tournament took place, with the nascent […]
The post Bitcoin History Part 14: The 1,000 BTC Poker Game appeared first on Bitcoin News.
Disclaimer: This is article expresses an unpopular opinion on a popular topic Civilizations throughout time have believed in a higher power. To some, that higher power is ‘God’, to others it is a mystery man, a group, ‘Illuminati’, operating from the shadows, with enough pull to control our every move, and perhaps, the world.
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By CCN Markets: In a legislative move that only Bizarro World could love, the New York State Senate has passed a bill that makes possession of a flamethrower for recreational use a crime. The bill now moves to the Assembly.
Facebook, the social media giant, is the newest member of the crypto world after it officially launched its whitepaper on its website today. Facebook introduced its cryptocurrency, Libra, which will be built on the Libra blockchain.
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The accusation that bitcoin is nothing more than a Ponzi scheme is perhaps the oldest, longest-standing criticism of the digital bearer asset. The basic idea is that there is nothing of value here and the entire purpose of bitcoin’s existence is to enrich Satoshi Nakamoto and the speculators who bought in for a few pennies or dollars in the early days by tricking others into buying in at a higher price.
Bisq was formerly known as Bitsquare and this is an updated review of our initial article on Bitsquare. Bisq has come a long way to become perhaps the only absolutely decentralized exchange in the crypto world.
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One day in the future, you may take a pill to treat an illness – and owe your recovery to the tiny microbes that flourish in the slippery layer of mucus that coats fishes. It is critically important to find the next generation of antibiotics.
In celebration of Minecraft‘s tenth anniversary, Microsoft played its Pokemon GO card and released an augmented reality phone app that shows the game pasted over the real world, called Minecraft Earth.
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At TNW2019, Reddit’s Chief Technical Officer, Chris Slowe, shared some behind-the-scenes insights into what makes the message board tick. Perhaps more importantly, he spoke of two important lessons learned from tackling the challenges Reddit faces as one of the world’s most popular websites.
By CCN: In the two years leading up to 2018, a spate of ransomware attacks were analyzed in a report by a team of researchers hailing mostly from leading U. S. universities and Google. Results showed a conservative estimate of total funds stolen to be $16 million, with bitcoin providing a way for malicious actors to take payment from anywhere in the world.
Elon Musk, the PT Barnum of tech, is currently getting a ration of ridicule from some of the world’s foremost leading AI experts over his ridiculous claim that Tesla will field a million fully autonomous cars by 2020.
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Binance is arguably the hottest thing in the current cryptocurrency sphere. It’s also perhaps the world’s biggest crypto exchange with a 24-hour trading volume exceeding $1. 3 billion. In 2019 alone, it has made very interesting moves that have pushed BNB atop most lists of best performing altcoins in the market.
Andrei Poliakov is the CEO and co-founder of Coinberry, one of Canada’s premier digital currency platforms. His company is the first in Canada to partner with a government municipality.
Can you remember what you were doing on New Year’s Day, 2018? Celebrating or perhaps nursing a hangover? What happened that day created a significant change in global recycling. China, the world’s largest scrap importer, stopped accepting recycled plastic, unsorted scrap paper and significantly reduced imported cardboard from abroad.
Satoshi Nakamoto’s identity has perhaps been the best kept secret of the whole crypto-verse. Since the creation of Bitcoin, the anonymous character chose anonymity as a way to protect himself and his creation.
Paris is known for many things: gorgeous architecture, exquisite cuisine, and perhaps, one day, cryptocurrency. Binance has been in a series of talks with representatives from the French government, suggesting the world’s largest exchange could be considering a move to France.
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If you visit just about any crypto news publication today, you will see at least one story detailing the recent news that the Chinese government is considering a blanket ban on Bitcoin mining. Perhaps testament to the world superpower’s repeated clampdowns on various aspects of digital currencies (exchanges and ICOs, in recent memory), the price.
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Elderglade has declared a strategic collaboration with zkLink, the leading designer of zero knowledge blockchain infrastructures of the Ethereum environment.
This move attempts to improve network performance, institutional trust, and back Kava Chain to become a secure platform for worldwide digital asset flows.
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