Monthly Archives: November 2020

“Unannounced” Ethereum Hard Fork Proves Not All Blockchain Networks Are Built The Same

Earlier today, a change to the underlying Ethereum code made by developers some time ago resulted in an unannounced hard fork, effectively splitting the Ethereum blockchain and creating a new version that is valid for upgraded nodes but seen as invalid by ones that did not upgrade. Obviously, this was a major issue for Ethereum users, but it also offered some lessons in the difference between the two largest blockchain networks. So What Exactly Happened With Ethereum Today? “OK, so what happened today on Ethereum: 1. At […]

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VeChain charts 23% weekly growth as Chinese officials talk usage post-epidemic

VeChain is riding a strong tailwind on favorable developments out of China. The price of VeChain (VET) extended its rally on Wednesday, building off a solid week of gains following discussions with Chinese government officials centered on a post-epidemic health response.  VeChain rose 2% on Wednesday to reach $0.011669, according to CoinMarketCap. Over the past seven days, the supply-chain management cryptocurrency is up over 23%. Only two other top-30 coins — NEM (XEM) and Chainlink (LINK) — have outperformed VET over the past seven days. Source: CoinMarketCap […]

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Kucoin Recovers 84% of Funds Stolen in $280 Million Hack

Kucoin chief executive officer Johnny Lyu revealed Wednesday that the exchange recovered 84%, or $235 million, of the $280 million stolen in one of crypto industry’s biggest hacks in September. In a tweet, Lyu said the affected funds have been recovered “via approaches like on-chain tracking, contract upgrade and judicial recovery. As asked by the law enforcements, we will publish all the details once the case is closed.” The Kucoin co-founder stated that the exchange has resumed trading for 176 tokens and the rest will be re-opened […]

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OCC is too caught up in crypto under former Coinbase exec, congresspeople say

Multiple United States congresspersons recently expressed their displeasure at the OCC’s focus on crypto this year. Brian Brooks, the former Coinbase executive turned leader of the U.S. Office of the Comptroller of the Currency, or OCC, recently received a letter from multiple members of Congress expressing concerns over his crypto-heavy leadership. The letter, from Stephen Lynch and Rashida Tlaib, two congresspeople for Massachusetts and Michigan respectively, also holds signatures from Jesús García, Deb Haaland, Barbara Lee and Ayanna Pressley — representatives from Illinois, New Mexico, California and Massachusetts.  The […]

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Price analysis 11/11: BTC, ETH, XRP, LINK, BCH, BNB, DOT, LTC, ADA, BSV

Bitcoin and several altcoins are showing signs of breaking above their overhead resistance levels, which suggests bulls remain in control. Billionaire investor Stanley Druckenmiller became the latest famous name to disclose a Bitcoin position. Although Druckenmiller did not specify the quantity he had purchased, he did say that Bitcoin will outperform gold a lot more “because it’s thinner, more illiquid, and has a lot more beta to it.” Paul Tudor Jones, Stanley Druckenmiller, and Bill Miller are some of the most successful traders and investors on Wall […]

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World Economic Forum calls blockchain key to sustainable digital finance

A new WEF report touts blockchain technology as a cornerstone of environmental sustainability. The World Economic Forum (WEF) believes blockchain represents a core element of sustainable digital finance — a new paradigm that combines emerging technology with environmentally-conscious business models. In a new report published Wednesday, UBS executive Karin Oertli lists blockchain technology along with artificial intelligence, mobile platforms and the Internet of Things as being the cornerstones of digital finance. These technologies, when combined with environmental, social and governance (ESG) frameworks, could help governments and corporations […]

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Hackers Have Stolen $100 Million From Defi Projects This Year

Hackers have stolen $100 million from decentralized finance (Defi) projects so far this year, according to a new report. Defi accounted for 50% of all hacks and thefts in the second half of the year. Defi Hacks on the Rise A new report by cryptocurrency forensics and blockchain threat intelligence firm Ciphertrace shows that $100 million have been stolen from decentralized finance (Defi) this year. The company detailed on Monday: In first six months of 2020, 45% of all thefts were Defi hacks, equating to about $51.5M […]

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Video: What Does The U.S. Election Mean For Bitcoin?

Listen To This Episode: Apple Spotify Google Libsyn Overcast Bitcoin has an unyielding apolitical nature which, oddly enough, makes it a political statement in today’s rampantly politicized world. In this episode of Bitcoin Magazine’s Fed Watch, my co-host Christian Keroles and I discuss the recent U.S. Presidential Election and what it means for Bitcoin. Our discussion is wide-ranging, going from election irregularities, to the rebound in mining hash power, to bitcoin price predictions for the near term. Bitcoiners — those who believe that Bitcoin can change the […]

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Bitcoin monthly candle close signals possible mega rally in December

Bitcoin price is showing resilience above the $15K level and history suggests a broader rally may occur in December. Historically, when a Bitcoin monthly candle closes above previous candles the digital asset has seen a prolonged rally. Atop this high time frame pattern, Bitcoin’s monthly candle in September closed above $13,000 for the first time since 2017. Furthermore, the dominant cryptocurrency has shown signs of a clear breakout throughout the past two months. BTC/USD monthly chart. Source: TradingView.com Why Bitcoin may be at the cusp of a […]

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Bitcoin burgernomics: This is how many Big Macs you can buy with 1 BTC

How many Big Macs does 1 Bitcoin buy, and why is this important? Measured in Big Macs, Bitcoin’s (BTC) purchasing power is approaching its highest level since the 2017 bull market, offering yet another indicator of the digital currency’s rapid appreciation. The global Bitcoin purchasing power index, or PPI, which measures how many McDonald’s Big Mac hamburgers you can buy with 1 BTC, rose 0.2% to 6,341.26 on Wednesday. Put differently, on average globally, a whole Bitcoin can buy you 6,341.26 Big Macs. In the United States, […]

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