Monthly Archives: December 2021

How Bitcoin Fixes The Old World Bureaucracy Of Payments

How one man’s journey to receive international payment revealed the bloated bureaucracy of our financial system and the solution offered by Bitcoin. I’m not a big fan of governments, and I’m really not a fan of bloated bureaucracies. I harbor the controversial opinion that HR departments and administrator roles are net negatives for any organization: it’s rare to find an administrator who knows what they’re doing or an HR person who adds value to their organization. Half or more of all new hires fail — which, if […]

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2 key Bitcoin trading metrics suggest BTC price has bottomed

Bitcoin price has yet to reclaim the $50,000 level, but the actions of options market makers and margin traders at Bitfinex suggest the most recent correction is over. Bitcoin (BTC) has been struggling to sustain the $47,500 support since the Dec. 4 crash, a movement that wiped out over $840 million in leveraged long futures contracts. The downside move came after the emergence of the Omicron variant of the Coronavirus and recent data showing U.S. inflation hitting a 40-year high.  Bitcoin/USD price at FTX. Source: TradingView While […]

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Ascendex Hacked — Exchange Loses $77 Million in ERC20, BSC, Polygon Tokens

Ascendex, a cryptocurrency exchange, suffered a security breach that allowed hackers to take control of some of the wallets of the exchange. The attack focused on hot wallets, where funds are kept as a buffer to tend to customers’ withdrawals. The company announced that it would reimburse these funds to any affected user. Peckshield, a security and auditing company estimated losses of around $77 million. Ascendex Hot Wallets Ransacked Yesterday, Ascendex, a cryptocurrency exchange, reported a security breach caused by a hack attack that focused on the […]

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My Node Runs On Home Solar: How Solar Energy Offers Protection From Government And Inflation Like Bitcoin

Solar energy, like bitcoin, can be an effective tool to protect oneself from poor government systems — and they even work in conjunction. The mainstream narrative for Bitcoin in 2021 has centered a lot around the “E,” or “environmental” aspect of ESG (environmental, social and corporate governance) and Bitcoin. One point that has not been mentioned is that running your own home on renewable energy can protect and insulate you from the bad “G” of the government’s reckless monetary and energy policies. Self-sovereignty is one reason why […]

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A letter to Zuckerberg: The Metaverse is not what you think it is

Facebook changing its name to Meta will likely have a huge repercussion on the narrative of the metaverse as a whole. Dear Lord Sugar Mountain, Attention: to my Facebook friend who is building a version of the metaverse that nobody wants as a starter. The last few years must certainly not have been easy. Your business model centered around polarization and, subsequently, outrage has ironically unified many of us against relying too much on your social media platform. Your government — whose sniper rifle accuracy you know […]

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Bitcoin Hashrate Hits an All-Time High Suggesting Thousands of Next-Gen Machines Have Joined the Race

While bitcoin prices have consolidated around the $50K zone, the network’s hashrate has reached an all-time high (ATH) on December 8, 2021, tapping 194.95 exahash per second. Bitcoin miners have increased their processing power a great deal despite the fact that mining bitcoin is 8.33% harder to mine since December 11. Bitcoin Hashrate Taps 194 Exahash per Second on December 8, Mining Difficulty Jumps Over 8% Higher 3 Days Later Bitcoin prices reached a few all-time price highs in 2021 breaking records from previous years. Similarly, Bitcoin’s […]

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Stablecoins Are Becoming Increasingly Key To The Bitcoin Economy

As an increasing part of the bitcoin economy, stablecoins are collateralizing $7.21 billion of bitcoin futures open interest. The below is from a recent edition of the Deep Dive, Bitcoin Magazine’s premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now. One of the most important economic discussions this year, apart from Bitcoin, is around the rise of stablecoins, and especially the rise of stablecoins pegged to the U.S. dollar. As the world […]

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Can We Define Bitcoin As A Religion?

This essay will attempt to answer a question often discussed yet semantically challenging. There’s been much discussion surrounding the question of determining whether or not Bitcoin is a religion. To truly understand the depth of this question, we must discuss belief, religion, organization, and dogma. Let’s answer this question beginning with a linguistic lens, and then continue through a philosophical discussion. What Is Religion? This seems a simple question, but the solution is full of character, and definition is required for the sake of categorization. If we […]

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Matt Zhang on a mission to reinvent crypto for institutional investors

Matt Zhang, founder of Hivemind Capital Partners and former Citi executive, explains the biggest challenges for institutions looking to invest in cryptocurrencies. Institutional interest in cryptocurrencies is increasing as the space continues to mature. A survey released on Dec. 8 by European investment manager Nickel Digital Asset Management found that 85% of institutional investors and wealth managers have dedicated teams to review cryptocurrencies and digital assets. The study noted that the investors surveyed manage around $108.4 billion in assets. The London-based firm also released a report in […]

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3 reasons why Ethereum price can drop below $3K by the end of 2021

The bearish setup appears amid growing divergence between the Ether price and momentum. Ethereum’s native token Ether (ETH) reached an all-time high around $4,867 earlier in November, only to plunge by nearly 20% a month later on rising profit-taking sentiment. And now, as the ETH price holds $4,000 as a key support level, risks of further selloffs are emerging in the form of multiple technical and fundamental indicators. ETH price rising wedge First, Ether appears to have been breaking out of “rising wedge,” a bearish reversal pattern […]

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