BTC

Bitcoin Improvement Proposals (BIPs) are essential tools in the crypto community. They allow the Bitcoin community to propose and vote on the Bitcoin Core software changes.  BIPs can also work for other wallets/services and have a process for development and implementation. This guide will explore what BIPs are, how they work, and some of their benefits and risks. What are Bitcoin Improvement Proposals (BIPs)? Bitcoin Improvement Proposals (BIPs) are proposals for changes to the Bitcoin protocol. Anyone can submit them,…

In a recent interview with the Economic Times India, billionaire investor Tim Draper shared his views on the future of the crypto industry and its regulatory journey. Amongst many things, the popular investor believes a decentralized currency offers more perks for society than many fiat currencies. Draper Shares Views on Crypto and Decentralization The interview initially focused mainly on India’s startup industry. Draper revealed his thoughts on the prospects of the space amidst the current economic downturn. However, he later…

During the November rally, crypto exchange CEOs and price analysts were confident that Bitcoin would soon reach $100,000. It didn’t come close. Today, it trades for under $23,000 – 67% down from its all-time high. Fear is in the air. Crypto companies need to be doing better. Theories of an extended “supercycle” bull market have expired and been replaced by acceptance of the “crypto winter.” The only question that remains is: when will it end? Read below to learn what…

Satoshi Nakamoto – Bitcoin’s anonymous founder – may be the largest Bitcoin whale on the planet. However, there’s no evidence that Satoshi has or will spend his coins. The crypto community isn’t sure how many coins belong to the founder. Just how rich is the father of Bitcoin? And what implications could his ancient stash have for the network and the asset? The Patoshi Pattern One of the most popular theories is that Satoshi Nakamoto mined anywhere from 750,000 to…

Years after making the news for accidentally discarding a hard drive holding nearly 7500 BTC, James Howells has a plan to recover his cryptocurrency.                How Howells Lost BTC Worth 176M USD An IT engineer, Howells was one of the first people to come in contact with the world’s largest digital currency, Bitcoin. He mined about 7500 tokens in a week, stored them in a hard drive, and promptly forgot about it. However, sometime later in August 2013, Howells came across the…

A recent MLIV Pulse survey has shed light on the sentiments of Wall Street traders regarding the future of the world’s biggest crypto Bitcoin. Considering Bitcoin’s recent struggles, several Wall Street investors expect the leading crypto to rather sink to $10k support than rising soon. Few Expect a Recovery MLIV’s new study warns Bitcoin bulls and expects the bearish period to probably last longer than earlier predicted. Over the past few months, crypto prices have continued to fall, the bearish…

El Salvador, the first country to make Bitcoin (BTC) legal tender, has purchased an additional 80 BTC. The country’s president, Nayib Bukele, announced via Twitter earlier today. According to him, the Salvadoran government bought the tokens at an average price of $19,000. This means the government spent around $1.52 million on this purchase. [embed]https://twitter.com/nayibbukele/status/1542672286490271744?s=21&t=tNewbes_XFcRtaHCIDnHdg[/embed] This news comes on the heels of Bukele announcing the purchase of another 500 BTC on May 9. This purchase brought El Salvador’s BTC holdings 2,301…

The increasing pressure for Bitcoin (BTC) miners to sell their holdings could further exacerbate the bear market. American multinational investment bank JPMorgan Chase strategists said in a note on June 24. Led by Nikolaos Panigirtzoglou, the strategists believe miners are selling their BTC holdings to cover operations costs. According to the strategists: Offloading of Bitcoins by miners, in order to meet ongoing costs or to deliver, could continue into Q3 if their profitability fails to improve. Panigirtzoglou and his team…

The electricity consumption of Bitcoin mining companies has plunged significantly in the wake of the intensifying crypto winter. Crypto analyst Digiconomist revealed this news in its Energy Consumption Indices for Bitcoin (BTC) and Ethereum (ETH). According to the BTC index, the electricity consumption of Proof-of-Work (PoW) miners has plunged nearly 36% in under two weeks. Specifically, BTC’s energy use fell from 204.50 TWh on June 11 to 131.68 TWh on June 23. Despite declining by over a third, BTC’s energy…