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Bitcoin enjoyed sharp gains during the first six months of this year, rising more than 200% as the digital currency benefited from numerous tailwinds. The cryptocurrency, which started out 2019 below $4,000, climbed to nearly $14,000 in late June, according to CoinDesk data.
The digital asset finished the first half of the year at $11,139.22, returning 202% in that time, additional CoinDesk figures show.
Bitcoin volatility was relatively modest during the first quarter, but increased significantly during the second.
While the digital currency was up only 11.7% year-to-date (YTD) at the end of March, it had risen 44.3%, 131.7% and 201.86% by the end of April, May and June.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
When explaining what drove these gains, some analysts highlighted a variety of potential causes. Erik Finman, a young entrepreneur and early bitcoin adopter, listed several "key components."
"These 5 things did not exist in the first quarter and are changing the way people look at cryptocurrency," he emphasized.
Jeff Dorman, chief investment officer of asset manager Arca, also pointed to numerous factors as fueling bitcoin's recent gains.
"There was a confluence of many real macro events/catalysts that led to Bitcoin's rise," said Dorman, including "trade wars," "Flight to safety from countries with tight capital controls (China)" and growing awareness of the digital currency.
One bullish factor singled out by several market observers was increased institutional interest. This contrasts sharply with the bull run that bitcoin experienced between 2017 and 2018, which was attributed largely to retail investors.
The latest run-up "certainly has not been a retail-led rally, which is very notable for the space," said Cole Walton, cofounder of Plouton Mining and head trader at Kanos Capital Management, LLC.
"Google searches have not spiked and anecdotal accounts have confirmed the general public does not fully believe bitcoin is back yet," he added.
Joe DiPasquale, CEO of cryptocurrency fund of hedge funds BitBull Capital, also weighed in.
"Bitcoin price grew rather steadily in the first quarter of this year as compared to the violent movements of late because the sentiment shift was not retail oriented," he stated.
"We believe institutions were actively buying Bitcoin since it's lows late last year and retail investors only joined in once major psychological barriers were broken, namely the $10k level."
Several analysts singled out the hype surrounding libra, the cryptocurrency that social media giant Facebook plans to release. The company formally announced its intention to release this digital currency, designed to allow seamless transactions between parties around the world, on June 18th, according to TechCrunch.
Facebook's plans have provoked a deluge of media coverage, with some lawmakers calling for the social media giant to halt all development on the project. Since the company had nearly 2.4 billion monthly active users as of March 31st, it can potentially tap a very sizable market by offering its user base the ability to make timely transactions.
Dorman spoke to this, noting that the launch of this cryptocurrency "immediately introduces 2 billion people to digital wallets." Walton emphasized that if libra gets off the ground, it "will be the biggest on-ramp into crypto we have seen yet, and institutional money knows this."
Market observers also pointed to the key role that derivatives and leveraged trading played in pushing bitcoin higher.
Dipasquale, for example, described these factors as "instrumental" to the cryptocurrency's gains.
Dave Hendricks, cofounder and CEO of digital asset management platform Vertalo, also commented on this situation, emphasizing how the market has matured over time.
"During the 2017 run up Bitcoin didn't even have a futures market in place," he emphasized. "In the 18 months since the ATH, many more institutions have started following and investing in BTC," said Hendricks. "With new leverage products and a more sophisticated buyer base, it's possible for larger leveraged orders to impact the market," he noted.
One form of information that can help market observers understand bitcoin's robust gains is sentiment data. Joshua Frank, cofounder of digital analytics platform TheTIE.io, helped shed some light on this particular area.
The chart below, provided by his company, plots the sentiment (measured by collecting and assessing social media posts) of bitcoin, along with the number of tweets surrounding the cryptocurrency.
The blue line represents tweet volume, while the purple line corresponds with long-term sentiment, which is calculated by conversations on Twitter over the last 50 days to a 200-day moving average.
"Tweet volumes (blue line middle chart) have continued to increase over the last year." "Continued increases in positive long-term sentiment means that conversations around cryptocurrency are increasingly becoming more positive," he emphasized.
Frank also weighed in on libra, and how its announcement affected the sentiment surrounding bitcoin. "After Facebook’s official partner list for Libra Coin was revealed on June 14th sentiment on Bitcoin almost immediately flipped positive leading significant upwards price movement," he noted.
Going forward, he provided a rosy outlook for the world's most prominent digital currency. "Conversations around Bitcoin remain bullish and we anticipate that Bitcoin, while volatile, will continue to see upwards price movement."
- Bitcoin Tripled In The First Half Of 2019
- Multiple Tailwinds
- Institutional Interest
- Cole Walton
- Plouton Mining
- BitBull Capital
- Kanos Capital Management
- CEO of cryptocurrency
- social media
- social media giant Facebook
- Эрик Финман
- цифровая валюта
- digital currency
Опубликованы результаты исследования Кембриджского университета. Сеть Bitcoin за год потребляет больше энергии, чем вся Швейцария.
Кембриджский университет запустил онлайн-инструмент CBECI (Cambridge Bitcoin Electricity Consumption Index), который в реальном времени показывает, какое количество энергии необходимо для поддержания сети Bitcoin. С его помощью можно подсчитать, какое количество энергии требует сеть за год.
Как свидетельствуют данные CBECI, сейчас глобальная сеть Bitcoin потребляет более 7 ГВт электроэнергии. В течение всего года совокупное энергопотребление составляет примерно 64 ТВт/ч. Это больше, чем использует вся Швейцария за тот же период времени (58 ТВт/ч в год) и немного меньше, чем Колумбия (68 ТВт/ч в год).
Стоимость криптовалюты взлетела до $12 642
Курс криптовалюты Bitcoin вырос на 11,58%, достигнув на 10:23 по Киеву $12 642. Об этом свидетельствуют данные портала CoinMarketCap. Капитализация рынка Bitcoin превысила $224,7 млрд.
В последний раз криптовалюта стоила дороже $12 000 в январе 2018 года. Максимальная цена Bitcoin была зафиксирована в декабре 2017 года, когда он торговался дороже $20 000.
Ранее сообщалось, что с начала текущего года Bitcoin подорожал на 170%, до $11 300 за монету.
They’re not called Zuckerbucks but Facebook just reinvented digital money. Facebook’s Libra cryptocurrency that will launch early next year is more like PayPal than Bitcoin — it’s designed to be easy enough for everyone to use. But it’s still complicated to understand so I’m going to break it down for you nice and simple.
Libra is like cash that lives inside your phone. How do you buy Facebook’s cryptocurrency? Starting in 2020, you’ll be able to purchase Libra through Libra wallet apps on your phone or from some local grocery and convenience stores. You cash in your local currency like dollars and get nearly the same number of Libra coins, which are represented by this wavy three line emoji instead of the $ symbol. But first you’ll have to verify your identity with a photo.
You’ll also be able to send and request money from friends like you would with Venmo or PayPal. It’s as easy to send Libra as it is a message. In fact, Facebook is building its own Libra wallet app called Calibra that will live inside of WhatsApp, Facebook Messenger, and its own standalone app.
But how does the Libra cryptocurrency technically work…without a bunch blockchain buzzwords? Libra is coded to have a stable price, be secure, and be controlled not just by Facebook.
Instead, Libra is run by the 28 member Libra Association that it hopes will grow to 100 members by the time it launches in the first half of 2020. Financial companies like Visa and MasterCard, merchants and apps like eBay and Lyft, venture capital funds like Andreessen Horowitz and Union Square Ventures, and non-profits like Kiva are all members. They each paid at at least $10 million to get one vote on the Libra council that controls what happens to the currency. They’ll be responsible for checking to make sure Libra transactions are real and creating the Libra Reserve
Each time you cash in a dollar, that money goes into big bank account called the Libra Reserve that creates and sends you roughly one Libra token. The Libra Reserve is made up of a collection of the most stable international currencies like the US Dollar, British Pound, the Euro, and the Japanese yen. The idea is that even if one of those currencies goes up or down in price, the value of the Libra will stay stable. That way, shops will accept the Libra as payment without worrying the value of the coin will drop tomorrow. Big swings in price are why older cryptocurrencies like Bitcoin or Ethereal haven’t grown popular as payment methods. Libra can also handle 1000 transactions per second, while Bitcoin can only handle 7.
So how do Facebook and the other Libra Association members earn money? Off of interest on all the assets held in the Libra Reserve. After the Libra Association pays for its operations and investments in technology, member earns a cut of the remaining interest in proportion to how much they invested when they joined. If Libra gets popular, tons of people cash in, and the reserve grows huge, the Interest could add up to serious revenue for Facebook.
But there’s also a subtle second way Facebook could get rich from Libra. If the currency makes it easier for small businesses to accept payments online, they’ll sell more stuff. They’ll then have extra money to spend on Facebook ads, which will make it extra quick to buy things with Libra. 90 million small businesses already have Facebook Pages, but only Facebook only has 7 million advertisers. If it can turn more of those local merchants into ad buyers, Facebook’s revenues could skyrocket.
The big risk of Libra is that anyone will be able to develop apps for it. That could lead to another Cambridge Analytica situation. But instead of some shady app maker snatching your personal info, they could steal your digital currency. Facebook and the Libra Association say they won’t vet Libra developers, which leaves the door wide open to abuse. And if people get scammed, they’ll blame Facebook.
But if Facebook succeeds, the real win could be for the 1.7 billion people left in poverty with no bank account around the world. They’re exploited by international money sending services like Western Union or Monogram that charge steep 7% fees that take $50 billion away from families per year. And if they’re mugged, they could lose all their money since they have nothing stored online. All they’ll need is a photo ID and Libra could give them an alternative to a bank account that’s tougher to steal and could make it easy to pay for what they need.
There are plenty of reasons to worry that Libra could give Facebook and other tech giants more power or lead to people getting scammed. But it could also give disadvantaged people everywhere a way to join the modern economy. And at least it’s not called FaceCoin.
Пользователи мессенджера WhatsApp смогут проводить транзакции в нескольких криптовалютах прямо в приложении. Ранее разработчики блокчейн-стартапа добавили такую возможность в Telegram и Facebook Messenger.
Разработчики бота Lite.lm из проекта Zulu Republic объявили о добавлении возможности перевода криптовалюты в мессенджере WhatsApp. Новый сервис поддерживает Bitcoin, Litecoin, Ethereum и нативный токен платформы стартапа ZTX.
Для того, чтобы отправлять и получать цифровые деньги в мессенджере, необходимо установить бот и следовать инструкциям. В программе можно настроить пароль, изменить язык и выбрать монету, которая будет использоваться по умолчанию.
Крупнейшая криптовалюта потеряла в цене больше 9%.
Курс биткоина 7 марта упал более чем на 9% и на минимуме торговался по цене ниже $9600, свидетельствуют данные Coindesk. Одной из причин резкого падения могли стать слухи о взломе одной из крупнейших в мире криптовалютных бирж Binance, пишет Business Insider.
По данным CoinmarketCap, объём различных торгуемых криптовалют на Binance составляет около $1,8 млрд.
В среду, 7 марта, пользователи Reddit стали жаловаться на проблемы с их кошельками на Binance и говорить о возможном взломе биржи. Часть из них обнаружила, что их альткоины были проданы по рыночной цене без согласия владельцев кошельков.
Какого чёрта? Binance просто продала все мои альткоины по рыночному курсу, теперь у меня остался только биткоин. Аккаунт был взломан или это из-за проблемы с ботом Binance?
Представители Binance сообщили, что клиенты, использующие ключи API для синхронизации с торговыми ботами, стали жертвами неавторизованных торговых операций. Доказательств взлома самой биржи нет, подчеркнули в компании. В службе поддержки Binance сказали, что у клиентов нет необходимости менять пароли на своих аккаунтах.
На время внутреннего расследования ситуации Binance временно отключила возможность снятия средств. В компании не уточнили, когда операции по снятию будут вновь доступны.
Как пишет CNBC, ещё одной причиной падения биткоина могло стать заявление Комиссии по ценным бумагам и биржам США (SEC) о необходимости криптовалютным биржам регистрироваться в ведомстве, если на их площадках торгуются токены, подпадающие под определение ценных бумаг.
Таким биржам стоит регистрироваться в SEC как национальным фондовым биржам, альтернативным торговым системам или брокерам, говорится в сообщении комиссии.
По состоянию на 21:25 по московскому времени средневзвешенный курс биткоина на Coindesk составлял $9726.
Bitcoin is the ultimate talk these days. By this time everybody knows bitcoins are digital currencies run by a network people, and that can be sent without any clearing house. It’s not controlled by any issuing authority like the goverment or a bank. Being only around 9 years old, the bitcoin is the most highly valued cryptocurrency out there in the market. Blockchain is the core technology of bitcoin. But what is bitcoin & blockchain? Also how does it matter?!
What is bitcoin and blockchain?
In simple format, blockhain is the combination of math and cryptography! Its a set of blocks which contains values inside it and are chained together. Precisely, cryptography is the art of writing or solving codes. It helps in creating a particuar encrypted data that can only be processed by a reciver for whom it is intended to. The converted data by an unauthorized user will be mismatched or maybe presented with the encrypted format which will be totally unreadable.
Modern form of technology has allowed humans to transact files of all possible formats with the help of internet and network sharing, no matter how far they are. Yes we also have transacted money with the help of online payment gateways. But the only thing is that, there isn’t any instant transaction of money that’s happening, as they need to be verified by a 3rd party authority. Which might involve high transaction costs and requires a lot of documents to be submitted in prior to gain access to online transaction.
THIS IS WHAT THE BLOCKCHAIN TECHNOLOGY IS TRYING TO SOLVE BY PROVIDING OPEN DECENTRALISED DATABASE.
Blockhain technology is going to completely change the way we had been transacting data. It has an upper hand of security by avoiding financial frauds, because all the transaction data are noted on a public ledger, of which one copy is stored on the personal computers of every node on the blockchain network. And which means anyone, anywhere having internet access can view the ledger. Infact the ledger contains information of every transaction from the very beginning dating back to the very first bitcoin transaction. Leading to a total size of 150 GB of DATA as of Jan 2018!
But how can an online database, that shares its ledger stays hack proof? The answer is its millions of users. Its like every ledger copy is available on the personal computers of every peer on the bitcoin network. So nobody can cheat on writing the data to the ledger. Infact Every block of data has a timestamp and also has a link to its previouse block, and it maintains them in a chronological order. The data can be viewed and added, but cannot be edited. Which is done using cryptography.
SHA-256 Cryptographic Hash Function:
One of the major implementations of block chain is the bitcoin cryptocurrency. For which now leads us to the concept of bitcoin minning. The bitcoins that are sent from A to B are verified by bitcoin miners, by solving a series of specialized math problems. In order to decide which block should be added to the blockchain, a serious contest is held between miners. One has to solve certain math problems created by a cryptographic hash function. More specificaly, the SHA-256.
There is no possibility to solve this problem logically, rather by a series of guesses, the answer can be obtained. Consider it like a combination of string on which guessed rightly will allow you to add the block to the blockchain and get you rewarded with bitcoins. But like I said it needs to be guessed and no logical solution is available. So it totally depends your computational power, which decides the Hash Rate. The more computational power, the faster you will arrive at the required combination. Also the hash rate is nothing but the number of guesses per second.
HASH RATE = NUMBER OF GUESSES PER SECOND
Each Bitcoin miner is competing with all the other miners over the network to be the first one to mine. Because In exchange for validating the transactions the Bitcoin miners are rewarded with bitcoins of thousands of $s worth. Which also means, rewarding = creation of new bitcoins. Believe me or not currently the number of computers that are minning bitcoins are over 1000 times more powerful than the world’s top 500 supercomputers combined. Which leads us to the conclusion of how secure the Bitcoin network is. Infact for a threat to disrupt the network, they might atleast need half the computational strength, which is definetly not going to be possible.
Each Bitcoin technology can be trusted so long as you know how it works and the trust of the people involved. All of the thefts in recent years have been the result of carelessness on the part of bitcoin owners. Bitcoin is atleast as of now experimental, it might be a good investment or might turn out to be a bubble that can burst out any soon. What are your thoughts on the future of bitcoins? Do share on the comments below.
There’s been a lot of hand-wringing about the future of blockchain lately.
With cryptocurrency prices reaching all-time highs and total market capitalization topping $800 billion recently, everyone wants to know if we’re witnessing the second coming of the internet or the craziest bubble of all time. If you ask me, it’s a bit of both.
Today, we have blockchain projects raising hundreds of millions of dollars with little more than a whitepaper — no product, no traction, just an idea and some technical specifications. You don’t need to be in venture capital to understand this level of speculation is unsustainable. At the same time, however, we saw much the same in the early stages of the internet, and look where we are today.
I think the cryptocurrency insanity we’re seeing right now is overshadowing a lot of the potential of the underlying architecture and technology. Market speculation aside, when I look at blockchain today, I see a very exciting technology that stands to dramatically reshape our increasingly digital world.
But that doesn’t mean it will happen overnight. When CryptoKitties, a seemingly useless game for breeding, buying and selling virtual cats, can bring the world’s most promising blockchain network to a standstill, it’s clear we still have a long way to go before this technology is ready for major, real world applications.
To get there, creative and enterprising developers must overcome three major limitations that exist at the very core of blockchain: brutal latency, high compute costs and limited storage. Until then, the hundreds of billions in investment dollars flowing into cryptocurrencies like Bitcoin, Ethereum, Litecoin and others will remain little more than speculative bets. What’s more, if blockchain technology doesn’t soon catch up with investor exuberance, a major market correction is all too likely.
Brutally low latency
One of blockchain’s greatest innovations is the way it decentralizes trust by taking a consensus-based approach to verifying transactions of every kind. While this creates massive value, it also comes at a massive cost: latency — and lots of it.
That’s because when transactions are posted to the blockchain, all nodes on the network are involved in verifying and recording them. It’s a slow and redundant process that demands a great deal of processing power. It also runs counter to everything we have come to expect from software systems and the general internet. While the entire infrastructure of the internet is bending toward real time, blockchain is inherently slow.
You don’t need to be in venture capital to understand this level of speculation is unsustainable.
If blockchain is ever going to achieve widespread adoption, it needs to get a lot faster. Redundancy might be a key feature, but low latency will always be considered a bug now that we’ve all been conditioned to expect real-time interactions with technology.
High cost to compute
It’s a great irony that right at the very moment everyone is talking about unlocking parallelization and writing multi-threaded and hyper-efficient code, we suddenly have to figure out how to write efficient single-threaded code again.
This goes back to the distributed nature of blockchain’s architecture and the consensus mechanisms that verify activity on the blockchain. In this environment, the infinite parallel execution that comes from every node on the network computing every transaction means that compute costs are extremely high. In other words, there is very little excess compute power available to the network, making it an exceptionally scarce (and therefore expensive) resource.
It’s a fascinating challenge. Programmers today are used to having access to cheap and virtually unlimited processing power. Not so with blockchain.
Today, we’re seeing all this effort to relearn how to write extremely efficient software. But efficient code will only get us so far. For blockchain to gain widespread adoption, processing power will need to get much cheaper.
Adding more computers does not solve the problem; quite the opposite. The more computers on the network, the more nodes required to sync with the latest transaction history.
Highly limited storage
Similar to the way processing power on blockchain is limited and expensive, the same goes for storage.
On the blockchain, storage comes in blocks, and there’s only so much data that can fit into any given block. What’s more, the number of blocks that can be created is limited. Both of these are a consequence of every block needing to be verified and synced across every node on the network. As noted earlier, this places major limitations on processing speed and power.
It also raises important questions about how to monetize storage. With cloud platforms, you pay a monthly or annual fee for up to an infinite amount of storage. It’s all yours — as long as you keep paying. When the subscription expires, you can renew or lose access to your files (i.e. the files are deleted).
With blockchain, this model breaks down completely. Blockchain databases store the data indefinitely; it begs the question: How can you possibly go about pricing it? The data storage costs must be paid up front and they must cover not just that month but all months and years to come.
What’s the time value of data? It’s yet another open question in desperate need of a creative solution.
Sometime in the last week Bitcoin investors started noticing additional fees on their bank statements. It turns out that VISA and Mastercard both decided (how convenient!) to reclassify the way Bitcoin and other cryptocurrency purchases are processed on their networks. Incidents like this pose several challenges for the cryptocurrency industry short-term, but also show just how scared the incumbents really are.
Currently, if you want to buy bitcoin, ethereum or any other alt-coin instantly, the only option is to use your debit or credit card. Transferring funds from your bank has lower fees, but takes several days. Coinbase has long accepted debit and credit cards for instant buys, however, passing on to the buyer the standard 4 percent credit card transaction fee.
Now, it seems VISA and Mastercard have quietly reclassified the way Coinbase credit card purchases are processed on their networks. Coinbase transactions (and presumably all other exchanges, as well) are now being labeled as a “cash advance” rather than a “purchase.” Fees will vary by institution, but what this means is that using a credit card will result in an additional 5 percent fee tacked on by your credit card merchant, in addition to the 4 percent credit card transaction fee already passed on by Coinbase.
Even worse is that cash advances do not fall under the standard interest-free grace period that consumers expect for other credit card purchases. The moment the Coinbase purchase goes through, the transaction accrues and compounds daily. If that isn’t bad enough, the interest rate is also higher for cash advances — an astonishing 25.99 percent in one case. Lastly, but equally as important for some consumers, these purchases will no longer qualify for earning credit card points.
For example, a $5,000 instant bitcoin purchase made on Coinbase using a VISA or Mastercard credit card will now result in roughly $500 in fees + interest too. For most people, losing 10 percent of your investment in fees means that the practice of using a credit card to buy cryptocurrency is effectively over. It will become more difficult for investors to purchase bitcoin and other cryptocurrency on their terms. Transferring funds via ACH takes three to five business days. In a world where cryptocurrency prices can swing wildly in either direction, a week feels like a nail-biting eternity.
In an email to all customers last night Coinbase confirmed the change, claiming “the MCC code for digital currency purchases was changed by a number of the major credit card networks” and will now allow banks and card issuers to charge “additional cash advance fees.” When asked for comment a spokesperson for Mastercard had this to say: “Over the past few weeks, we have clarified to acquirers — or the merchant’s bank — the right transaction or merchant category code to use for these type of transactions (cryptocurrency purchases). This provides a consistent view of such purchases for both merchants and issuers.”
If anything, this change makes things more complicated in the short term. Authorities are already divided on what bitcoin “is”: the IRS has already said bitcoin is not “currency” and treats it as taxable property, however, credit card companies are now telling us that buying bitcoin is the same thing as pulling cash out of an ATM.
Both things can’t be true. By reclassifying Coinbase (and presumably all other exchanges, as well), VISA and Mastercard are doing their best to make it harder, slower and more expensive for people to invest in cryptocurrency. Credit card companies believe it’s in their best interest to turn away millions in additional revenue in exchange for slowing the rush of investment into bitcoin. In many ways, that’s true. The rise of bitcoin and future cryptocurrency is tied to the eventual fall of financial middlemen like VISA and Mastercard. Maybe they just woke up to it.
В конце января на рынке криптовалют начался масштабный кризис: все крупные валюты подешевели на 30-50% за несколько дней. И падение не останавливается.
Сильнее всего кризис влияет на самую крупную криптовалюту — биткоин подешевел за неделю на 40%! Еще 30 января он стоил 11 тысяч долларов, а теперь упал до отметки в 7500 долларов. Такой курс был в середине ноября.
Криптовалюты начали падать после новостей о взломе японской биржи Coincheck: хакеры украли криптовалюты почти на 500 миллионов долларов. Владельцы биржи пообещали компенсировать большую часть денег, но уже тогда правительство Японии взялось расследовать это дело. Потом социальная сеть Facebook запретила рекламировать криптовалюты и сомнительные операции с ними.
К списку негативных новостей, которые могли спровоцировать волнения на рынке, можно добавить еще одну историю. Крупнейшие банки США JPMorgan Chase, Citigroup и Bank of America запретили клиентам покупать криптовалюту на свои кредитные карты из-за постоянных скачков курса.
Кризис многие используют для выгодной закупки криптовалюты.