BTC

Cory Klippsten – CEO of Swan Bitcoin – is unhappy with Consensus Magazine’s apparent failure to give Bitcoiners the credit they deserve. Klippsten confronted the magazine’s chief, Ben Schiller, in a Twitter Spaces on Wednesday, curious as to why no Bitcoin-focused developers or influencers had been mentioned in CoinDesk’s Most Influential 2022. When asked to name a Bitcoiner that he thinks “matters” Schiller struggled to produce an answer.  The CoinDesk Controversy CoinDesk’s Most Influential 2022 was a list of 50…

Per a report from blockchain analysis firm Chainalysis, the attacker behind the Nov 11 FTX exploit, is converting the stolen ETH to Bitcoin. There were muted fears the seemingly inexperienced perpetrator could dump all its ETH holdings. On Sunday, the attacker dumped 50k ETH on-chain, with ETH's price dipping by almost 7%.  https://twitter.com/chainalysis/status/1594349583416840199?s=20&t=pgvQHeVytI20eKQ1ls9bxw Hacker Moves 50,000 ETH to New Address Over the past week, the perpetrator had been steadily swapping the cryptocurrencies they had carted off for Ether tokens. This…

In a tweet on Thursday, El Salvador’s pro-Bitcoin president Nayib Bukele announced the nation’s plans to buy 1 Bitcoin per day, starting tomorrow, 18 November 2022. Tron Founder Justin Sun didn't spare a moment to jump into the conversation announcing he would follow in the nation’s footsteps.  We are buying one #Bitcoin every day starting tomorrow, Bukele stated. El Salvador’s BTC Reserves Suffer Major Losses Amid FTX Saga The nation recently celebrated its anniversary of adopting the leading cryptocurrency as…

As the FTX crisis draws on, competitor and leading global exchange platform Binance recorded a jump in client withdrawals. Users have pulled out assets such as Bitcoin, Ethereum, and other stablecoins from the firm as tensions soar throughout the market.  CZ however dismissed any worries, describing the increased withdrawals as only 'slight' and 'normal'.  Binance Users Withdraw BTC, ETH, and Others On-chain data platform CryptoQuant reports BTC withdrawals on Binance totaling 81,712 tokens. This amounts to roughly $1.35 billion at…

Per a report from the Cambridge Center for Alternative Finance (CCAF), fossil fuels have been the primary energy source for BTC mining since the start of the year. The CCAF recently updated its Cambridge Bitcoin Electricity Consumption Index (CBECI).  Its study claims that 62% of all the energy the leading token has consumed so far consists of coal-based energy. BTC’s Energy-Intensive Mining Bitcoin employs the proof-of-work consensus mechanism to create new tokens and validate transactions on the blockchain. The PoW…

According to historical records detailing domain purchases under professional anonymity provider AnonymousSpeech, Bitcoin could have been Netcoin instead.  Nakamoto May Have Been Torn Between 2 Names The data revealed that on August 17, 2008, a day before Satoshi Nakamoto created Bitcoin.org, Netcoin.org came into existence. AnonymousSpeech is a Japanese service that allows users to purchase domain names anonymously. Twitter user @Orweinberger made a post on Friday to reveal the new findings. They reportedly discovered the information while going through all…

Prolific Bitcoin supporter Michael Saylor says Bitcoin is a better investment option than any physical asset for commoners. According to the entrepreneur, only those who come from royalty can handle the numerous factors involved in owning physical property.  The former CEO of MicroStrategy outlined some setbacks involved in transferring property like stocks, equity, real estate, or gold. Speaking at the Australian Crypto Convention, Saylor contrasted these physical assets against Bitcoin. He opined that Bitcoin is a more adaptable asset to…

Data from blockchain analytics firm CryptoQuant reveals that over 5,000 Bitcoin more than 7 years old were moved on Saturday. According to the company’s community manager “Maartuun” on Twitter, this could be a sign of further downside to come.  In a post on Sunday, Maartuun shared a chart showing the on-chain movement history of bitcoins during various timeframes.  Exactly 5,019 BTC that hadn’t moved in 7 to 10 years were transferred in one block on August 28. One block is…

Mike McGlone – Senior Commodity Strategist at Bloomberg Intelligence – recently suggested that Bitcoin is on its way to becoming “global collateral.” He called the primary cryptocurrency a possible “leading indicator” for risk assets, which may be at risk given the crypto market’s latest decline.  Signs of Maturity? As McGlone tweeted on Wednesday, most risk assets are struggling in the second half of 2022. Their headwinds primarily stem from the Federal Reserve's “sledgehammer” of rising interest rates, which “may form…