Monthly Archives: September 2021

For Addicts And Debt Slaves, Bitcoin Is A Bright Light In A Dark Place

A former drug and alcohol addict discusses our addiction to fiat money, debt slavery and how Bitcoin inspires him for the future. Watch This Episode On YouTube Listen To This Episode: BitcoinTV Apple Spotify Google Libsyn Overcast Although the general sentiment of the Bitcoin community and that of Bitcoin Magazine is one of hope and optimism, the real world is often not so straightforward. One of our recent posts discussed the reality of addiction, and how this relates to the fiat world and debt. I believe that […]

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Traders buy the Bitcoin dip even as Evergrande’s implosion rocks stock markets

The Evergrande fiasco appears to be driving the correction in global stock markets, but data shows this isn’t deterring pro traders from buying the BTC dip. Bitcoin (BTC) investors seem concerned about the increasing speculation that China’s second-largest property developer, Evergrande Group, will default on its $300 billion in debts. These fears manifest in global equities markets which saw a 1.5% to 3% drop at this morning’s market open.  Despite the price move, the BTC outflow (net withdrawals) from exchanges has continued a multi-month trend, particularly on […]

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Texas following El Salvador? Poll shows 37% of residents want crypto payments

Two pieces of legislation related to cryptocurrencies recently took effect in the state, and many businesses already accept digital payments. A new poll from Newsweek suggests that as many as 10.8 million Texans may support legislation that makes cryptocurrency legal in the next election. According to a Sept. 20 report, a Newsweek poll that surveyed more than 9,700 eligible voters across ten U.S. states suggested that 37% of Texas residents would vote in favor of a ballot measure to make crypto legal, while 42% said they would […]

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Stock sell-off tanks Bitcoin price, but traders expect a bounce near $42K

Fear over the Evergrande situation weighed heavily on equities markets and Bitcoin price, leading traders to expect a bounce in the $42,000 to $38,000 zone. The cryptocurrency market faced a fresh round of selling on Sept. 20 as global financial markets fell under pressure thanks to fears surrounding the potential default of Evergrande Group, a China-based real estate company whose collapse could send ripples across equities markets.  Data from Cointelegraph Markets Pro and TradingView shows that the early morning sell-off in Bitcoin (BTC) intensified into midday as the price […]

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Institutional investors increase their crypto holdings for 5th straight week

Despite the recent selloff in the crypto markets, institutional managers have been quietly turning bullish over the past month. Cryptocurrency assets held by institutional managers rose for a fifth consecutive week, a sign that market participants had once again flipped bullish on Bitcoin (BTC) and the leading altcoins.  Investment flows into crypto products totaled $42 million in the week ending on Sept. 19, with Bitcoin funds seeing inflows of $15 million, according to digital asset manager CoinShares. That’s only the third time in 16 weeks that BTC […]

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Price analysis 9/20: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, UNI, AVAX

Bitcoin and most major altcoins have dropped to their critical support levels, which is likely to attract strong buying from the bulls. The crypto markets and the U.S. equity markets sold off on Sept. 20 on fears that the collapse of Chinese property giant Evergrande could not only hurt China but also have wider implications in other markets. When the sentiment is bearish, traders dump positions that they perceive as risky in favor of safe-haven trades. This could be one of the reasons for the sharp fall in […]

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Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor […]

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The Team is excited to announce the integration of ERC-20 tokens into the Wallet. That means anyone can now buy, sell, receive, store, trade, and send ERC-20 tokens with the convenience and security of the industry’s most user-friendly non-custodial wallet. ERC-20 Tokens? ERC-20 is the standard protocol for creating tokens on the Ethereum blockchain. There are over 450,000 sets of ERC-20 tokens as of 2021 and they collectively represent hundreds of billions of dollars in value. All ERC-20 tokens “live” on Ethereum, meaning they benefit […]

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Infrastructure Bill Seeks To Obligate People To Report Bitcoin Payments Of Over $10,000 To The IRS

The tax change would extend the IRS cash payments reporting requirements to bitcoin and cryptocurrencies. According to Publication 1544 of the U.S. Internal Revenue Service (IRS), any person who receives more than $10,000 in cash in 12 months due to a trade or business must report it to the IRS and the Financial Crimes Enforcement Network (FinCEN) on Form 8300. However, the new Infrastructure Bill aims to extend that requirement to Bitcoin and other cryptocurrencies at large. If enacted, this legislation will require any U.S. person receiving […]

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1.6 Million Salvadorans Now Using Bitcoin Chivo Wallet

El Salvador President Nayib Bukele gives us an update on the adoption progress of their government Bitcoin app – Chivo Wallet. Today, the president of El Salvador, Nayib Bukele tweeted out an update on the adoption progress of the nation’s recently launched Bitcoin app, Chivo Wallet. As of now, over 1.6 million Salvadorans have been onboarded to the app and now have access to BTC. The adoption of Bitcoin in El Salvador is ramping up quickly as just this past Friday, September 17, 2021, the President reported […]

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