‘Tis the Season — to Evaluate Bitcoin’s Price Performance

Twitter Facebook LinkedIn By Rafael Delfin, Head of Research at Brave New Coin, a leading provider of high-value cryptocurrency market data and insights, since 2012. October 31st, 2018 marked the 10-year anniversary of the publication of Bitcoin’s white paper. While it was initially circulated among a small and obscure cryptography mailing list, one decade later, the implementation of the mythical white paper is disrupting the world’s notion of money, sovereignty, and everything in between. Since its inception, bitcoin’s performance has been nothing short of extraordinary. With its highly volatile nature,…

Op Ed: Bitcoin’s Energy Consumption Is Neither Frivolous Nor Excessive

buy erythromycin topical solution online As the CEO of Hut 8, one of North America’s largest cryptocurrency miners and the world’s largest publicly traded cryptocurrency miner, I’m often asked questions about energy consumption in the mining of cryptocurrency. Unfortunately, there are many misconceptions around energy use and why it’s required to safely and securely transact cryptocurrencies. During our ribbon-cutting ceremony in the City of Medicine Hat in September 2018, a reporter asked me how I felt about something “frivolous” like bitcoin using so much energy. I was taken aback by the question. It indicated a…

Renewable Energy Can Solve Bitcoin’s (BTC) Energy Consumption ‘Achilles Heel’

Global Bitcoin mining operations have been reported to consumer enough energy to power an entire country. BTC mining has also been calculated to consume enough energy to power all the global electric cars for one year. The cost of power has led many miners to seek the utility in the global regions where they can save on operations such as cooling their mining machines, as well as where they can purchase the energy at a lower cost. We therefore have seen plenty of mining activities concentrated in regions such as…

The Good, the Bad and the Ugly Details of One of Bitcoin’s Nastiest …

For well over a year, versions of Bitcoin Core — Bitcoin’s leading software implementation — contained a severe software bug. The bug was fixed with Bitcoin Core 0.16.3 (and 0.17.0rc4), released this week, and the status of the Bitcoin network now appears to be safe, with no harm done. The Bitcoin Core project has since released a full disclosure report, revealing that the bug was even worse than previously thought. These are the good, the bad and the ugly details about one of Bitcoin Core’s nastiest bugs to date. (But…

Whales On The Move: Somebody Just Transferred $193 Million Worth Of Bitcoins From A Billion-Dollar Wallet

Players in the Bitcoin market are anxious to dig up anything they can about a Bitcoin whale spotted doing something that could potentially impact the market, especially seeing as the Bitcoin market has been running between bears and bulls of late. Crypto investors spent the better part of the early Thursday trying to understand the motive behind the movement of about 30,000 BTC from a huge wallet that’s also believed to contain a further  168,789 BTC. In fact, there wasn’t just one transaction spotted. A Whale Preparing For A Dump?…

Bitcoin’s Energy Consumption in Summer: Rise or Fall?

It’s no secret that Bitcoin (BTC) mining is an expensive business, and in more ways than one. Not only has it become less profitable since July 2016’s halving of mining rewards to 12.5 BTC, but competition among miners and an increasing hashrate have resulted in ever-higher energy consumption, with all the damage to the environment that implies. Yet, as energy-intensive as Bitcoin mining is, a question still remains: Is there a seasonal variation in the cryptocurrency’s energy consumption? Even if consumption is rising on the whole, does something different happen…

Stablecoins Won’t Fix Bitcoin’s Instability: Berkeley Prof.

Prof. Barry Eichengreen, an economics professor at UC Berkeley, in an op-ed published in The Guardian, said he believes stablecoins such as tether (USDT) might be stable in value and attractive as units of account, but they are flawed. His piece comes on the heels of the launch of the Gemini dollar (GUSD) by the Winklevoss twins. Stablecoins Aren’t a Cure-All for Crypto Instability For some, holding a stablecoin is the perfect investment as it creates a bridge between digital money and fiat currencies such as the U.S dollar. For…

Bitcoin’s Double-Digit Drop Negates Long-Term Bull Market

Bitcoin’s (BTC) double-digit drop has torn down the scaffolding of what had seemed to be a developing long-term bull market just days ago. That said, a bearish reversal is still not confirmed either, technical studies indicate. At press time, the leading cryptocurrency is changing hands at $6,422 on Bitfinex – down 13 percent from the previous day’s high of $7,404. Notably, BTC has erased all the gains made over the last two weeks in a single day. Further, the sharp drop has poured cold water over the optimism generated by…

Bitcoin’s Price Pullback Risks Bear Revival Below $6.9K

Bitcoin (BTC) bulls need to defend key support at $6,905 to avoid invalidation of the short-term bullish outlook, technical charts suggest. Having hit a peak of $7,139 Wednesday, the leading cryptocurrency is currently trading around $6,920 on Bitfinex – down 2 percent on a 24-hour basis. The drop does not come as a surprise, however, as the 21 percent rally witnessed in the last two weeks was looking overstretched yesterday. More notably, the short-term bull case would weaken if BTC finds acceptance below the 100-day moving average (MA) of $6,905.…

Ethereum (ETH) Taking Over if Bitcoin’s Evaporation Turns True

If we go by the words of IOHK and respected Cardano (ADA) lead figure – Charles Hoskinson, as he mentioned that every coin should be positioned in their potential respectively place, the crypto-verse would look very differently today. Equal to your Potential “Why is anybody worthy of their positions in the market cap? Bitcoin is advertised as a payment system and a means of exchange, and then everybody who’s ever tried to use it for that, it’s been a miserable failure. They usually stop taking it, or they find ways…