Bitcoin

Transactions are a big part of how cryptocurrencies work. Almost anything that can be done on a blockchain is done through transactions, whether it's sending cryptos, running Dapps, using Oracles, or even accessing DeFi services; they're all done through transactions. Much like traditional financial transactions, blockchain transactions involve the exchange of value, services, and commodities. But unlike traditional financial transactions, blockchain transactions do not require intermediaries and their fees and delays. To understand how bitcoin transactions work, you need to…

Alexander Vinnik, a Russian man charged with multiple crimes including Bitcoin fraud worth millions of dollars, will start his trial today in France, the Washington Post reported Monday. Vinnik, 41, was accused of using ransomware in a €135 million ($157 million) Bitcoin fraud. He now faces a trial in Paris on the count of extortion, money laundering, and criminal association. He could spend up to ten years in prison if found guilty. The French authorities claimed that the accused was…

Former Goldman Sachs chief Raoul Pal says CBDCs are at the forefront of new banking policies. Pal, in a series of tweets, referenced several sources to buttress his point. Biggest financial overhaul in history? Pal believes that the introduction of CBDCs will be the biggest financial move since Bretton Woods. He also revealed that the International Monetary Fund (IMF) would hold a conference on October 19. The potentials of digital currencies and cross border payments will be the major topics…

Twitter CEO Jack Dorsey has endorsed the protests taking place in Nigeria against police brutality. In a tweet on October 14, Jack urged his followers to donate Bitcoin to the #endSarse campaign. He also shared a link to a special fund run by a group of Nigerian feminists fighting against police injustice in the nation. The protest began two weeks ago when thousands of youths took to the streets to protest against police brutality. This protest was focused on a special…

Stone Ridge, a New York-based institutional asset management company, has become the latest company to describe Bitcoin as a "Primary Treasury Reserve Asset."  Announcing this today, the company, worth $10 billion, noted that it holds 10,000 Bitcoin worth $115 million as a reserve asset.  The asset manager said it is non-wholly owned crypto subsidiary, NYDIG, would maintain custody of the Bitcoin. NYDIG was launched during the crypto rush of 2017 to cater to the needs of new breeds of institutional…

Halving events remind that Bitcoin can end mishandling of global monetary policies.  The US Central Bank poured fiat to the commercial banking system now at $7.17 trillion. Paul Tudor Jones of Tudor BVI applauded Bitcoin's growing role as a hedging asset.  Peter Schiff warned that the Fed has lost its credibility.  Embrace monetarism or choose Bitcoin as a firm, safe haven for money.  On May 11, 2020, a miner took Bitcoin's 630,000th block out of its digital depths, earning a…

Several factors within the cryptocurrency market are essential determinants of their outcome. These are volatility, demand, regulations, media presence, listings, technological advancements, etc. However, one that most people do not account for is the crypto whales. Over the past couple of months, the number of crypto whales has risen as more people get into cryptocurrency trading. Due to more cryptocurrencies, professional traders can earn more coins presenting the opportunity to become whales. Cryptocurrency whales are individuals or organizations holding large…

Coinbase managed to help its clients save 75.2% in transaction fees and reduce their daily transaction count by 95% by batching Bitcoin transactions. Transaction batching combines multiple transactions into one rather than creating a new transaction for every request. As a result, it dramatically reduces the costs of transacting bitcoin and the overall Bitcoin network load, allowing it to fit more in a smaller space. Currently, many popular Bitcoin exchanges use this scaling technique of payment batching. In addition, many wallets…

Cryptocurrency theft is a billion-dollar business. No, you're not reading this wrong. Still unbelieving? How about some stats to put this into perspective? According to CipherTrace, the world's first Blockchain Forensics team, by June of this year, crypto theft had hit the $ 1.36 Billion mark. At that rate, 2020 is going to be the second-costliest year in crypto theft after 2019. In that year, crypto heists topped $ 4.5 Billion.  As a crypto trader or holder, there are many…