Bitcoin News

  • BTC-related revenue drops 34%, digital payment giant Block’s overall revenue declines

    On August 4, fintech and digital payment giant Block (formerly Square) announced its second-quarter results. The data shows that Block’s total revenue for the quarter fell 6% to $4.4 billion, of which bitcoin-related revenue fell 34% to $1.79 billion. Excluding bitcoin-related income, net income was $2.62 billion. Revenue fell 6.6 percent from the second quarter of last year due to lower bitcoin revenue, the company said. Overall, the company’s overall revenue fell as a result of lower bitcoin-related revenue, largely due to lower consumer demand and bitcoin prices, and in part due to…

    2022-08-05
  • A rising indicator in the crypto market is the bear market really coming to an end?

    Bitcoin and Ethereum started out of extreme oversold trends and rebounded after the positive news after the MOFC meeting in July. It is now worth watching whether this rally is a rebound in a bear market or the beginning of a new sustained bull market. Bitcoin and digital asset markets reacted strongly to the Fed’s policy of raising interest rates by 75 points this week, with BTC closing up 5.7% and ETH up 7.6% this week. The market also responded positively to the FOMC. Fed Chairman Powell said that the current federal…

    2022-08-04 News
  • One article to understand Aptos: financing, technical architecture, Move language and ecological application

    After years of seeking regulatory compliance, Diem, a cryptocurrency payments project from Facebook/Meta, came to an abrupt end in 2022. Its assets were sold, including the underlying blockchain network. Two former Meta employees, Mo Shaikh and Avery Ching, were reluctant to accept the fate of a project they had spent nearly three years working on. So they decided to continue their work, only this time as CEO and CTO of the newly formed Aptos Labs. Based on the knowledge its employees have acquired in the Diem codebase, Aptos Labs seeks to create a…

    2022-08-04
  • Micro-Strategy Q2 digital assets recorded a surge in impairment short-selling rate of US$917.8 million

    On August 2, MicroStrategy announced its second-quarter financial results. The financial report shows that MicroStrategy’s digital asset impairment loss in the second quarter of 2022 was $917.8 million, compared to $424.8 million in the second quarter of 2021. As of June 30, 2022, MicroStrategy’s digital assets (consisting of approximately 129,699 bitcoins) had a book value of $1.988 billion, reflecting a cumulative impairment loss of $1.989 billion since the acquisition, averaging book value per bitcoin The amount is approximately $15,326. As of June 30, 2022, Micro Strategy’s Bitcoin raw cost basis and…

    2022-08-03
  • Fortune Interview with SBF: Discussing Crypto Winter, Crypto Development Direction, and FTX’s Ultimate Goal

    Already a billionaire entrepreneur Sam Bankman-Fried (wealth worth about $11.5 billion) has a whole new identity: the white knight of the crypto space, SBF is chasing after the “crypto winter” when Bitcoin and various properties are collapsing , buy time for your own startup. On his way to New York, SBF sat down with Fortune to talk about his investments, the future of cryptocurrencies, and his   ultimate goal at FTX  . The interview questions and answers below have been edited for readability. Fortune: Are many crypto insiders predicting the current crypto winter? In this…

    News 2022-08-03
  • Back to the source: Where did the value of Bitcoin and Ethereum come from?

    Whenever people mention cryptocurrencies such as Bitcoin, it is always associated with speculation, investment, hype and even Ponzi schemes, it seems that cryptocurrencies are just a pile of waste paper. This statement may not be completely wrong, but in fact, thousands of dollars in derivatives are traded every second in the financial market of the world, and these include stock market indices, CFDs, and spread betting are actually just betting contracts, not real For example, if you buy a (Long) XAUUSD gold trading pair on Vintage, in fact, your trading…

  • Bitcoin advocate Michael Saylor steps down as MicroStrategy CEO

    Michael Saylor, one of the most prominent bitcoin proponents in corporate America, announced Tuesday that he would be stepping down as chief executive (CEO) of business intelligence firm MicroStrategy. Effective August 8, 2022, Michael Saylor will assume the new role of executive chairman, and company president Phong Le will serve as the new chief executive officer and member of the board of directors. Michael Saylor founded the company in 1989 as a software developer, but in recent years has begun buying billions of dollars in bitcoin with MicroStrategy funds. Saylor said…

    News 2022-08-02
  • details the progress of the Ethereum merger and the merged MEV and miners

    feed The merger significantly changed Ethereum’s monetary policy, reducing the issuance of Ethereum by about 90%. In 6-12 months, both the validator’s principal (32 ETH) and newly issued will also be illiquid and will be “stuck” on the beacon chain. Deflationary monetary policy and increased demand for staking ETH could lead to a significant contraction in the supply of ETH in circulation. Comments from the ethereum community hint at a soft target for the September merger. A range of market indicators show that the market expects the merger to happen at least by…

    2022-08-02 News
  • Honduras launches ‘Bitcoin Valley’ to attract global crypto investors

    Honduras has broken ground for “Bitcoin Valley,” a project in the country’s booming town of Saint Lucia that aims to attract crypto investors from around the globe. Honduras is a Central American country promoting the use of cryptocurrencies as a payment method by municipalities. According to Reuters, many companies in the town of St. Lucia are now accepting bitcoin as a payment method. The “Bitcoin Valley” project aims to train 60 companies to adopt cryptocurrency to sell their products and services, with the expectation that these practices will be rolled out to…

    Bitcoin News 2022-08-02
  • Bitcoin miners say it’s hard to survive in this low-profit environment

    Running a bitcoin mining business can be very worrying lately. The slump in the cryptocurrency market has caused BTC’s value to drop by a third of its all-time high in November 2021, forcing miners to sell some bitcoin holdings against work prices and different monetary liabilities. Additionally, concerns about the environmental impact of crypto mining remain a difficulty that miners should continue to face for years to come. Sadly, not everyone survives. “Hedge funds have exploded in a short period of time,” Hansen added. “I believe it will take 3…

    Bitcoin News 2022-08-01
  • New ideas for expansion? Understand the modular public chain Celestia in one article

    Scalability has been one of the biggest barriers to widespread adoption of blockchain technology, and while there have been quite a few L1 scaling solutions, most focus on the consensus layer rather than data availability. For a long time, the blockchain is a distributed network that performs state machine replication, which is divided into three layers: data, consensus, and execution. This is also the key point of creating a currency based on the Internet, which is to introduce a consensus system that cannot be interfered with by the outside world. The…

    2022-07-31
  • The ins and outs and future of the 2017 Bitcoin fork (Part 2)

    In August 2022, 5 years have passed since 2017. The market has also experienced two bull-bear transitions. In the 2017 bull market, Bitcoin rose from $150 to $20,000, and in the 2021 bull market, Bitcoin rose from $3,200 to $68,000. The hot spot in 2017 is forks and ICOs. The hot spot in 2021 is DEFI, NFT. As a participant in the Bitcoin fork war in 2017, in five years, we can see the main course of the development of Bitcoin, and at the same time, the current review can also minimize the disturbance…

    2022-07-31 News
  • Paradigm Letter to Investors: Crash and Rebirth Belief

    On July 20, Matt Huang, founding partner of well-known crypto VC Paradigm, sent a letter to LPs, explaining the internal reasons and implications of the recent collapse of the cryptocurrency market. He believes that although the market is destroyed in the short term, in the long run , the lessons learned during this crisis will translate into a healthier crypto ecosystem. The next 12-24 months will be a good time to build and invest in cryptocurrencies .  In general, you can interpret this as a psychological massage for LPs, which are all simple…

    News 2022-07-30
  • Solution for BTC Lightning Network DEX

    The BTC Lightning Network is Layer 2 running on the BTC mainnet, allowing faster Bitcoin payments by processing transactions away from the main blockchain, while maintaining the same decentralization and security. The Lightning Network can process transactions more than 140,000 times faster than the BTC mainnet, with extremely low transaction fees. Cross-blockchain is also a major feature of the BTC Lightning Network. Cross-chain atomic swaps can occur immediately off-chain through heterogeneous blockchain consensus rules. As long as the chain can support the same encrypted hash function, it can be used without trusting…

    2022-07-29 Bitcoin News
  • What is the correlation between Bitcoin and US stocks in the past four years?

    Author press: Generally, hedge funds will introduce correlation indicators as an important reference for investment and asset allocation. By reviewing the correlation trend between BTC and the Nasdaq 100 index (NDX 100 index) in the past four years, it can help us eliminate the noise of the market, remove the false and save the truth, and extract the key factors that really affect the market trend. Indicator selection instructions: Nasdaq 100 Index (NDX100): In the stock index selection, we mainly consider the Nasdaq 100 index. The index includes the top 100 largest…

    2022-07-29 Bitcoin News
  • The ins and outs and future of the 2017 Bitcoin fork (Part 1)

    Community Governance Challenges  In August 2022, 5 years have passed since 2017. The market has also experienced two bull-bear transitions. In the 2017 bull market, Bitcoin rose from $150 to $20,000, and in the 2021 bull market, Bitcoin rose from $3,200 to $68,000. The hot spot in 2017 is forks and ICOs. The hot spot in 2021 is DEFI, NFT. As a participant in the Bitcoin fork war in 2017, in five years, we can see the main course of the development of Bitcoin, and at the same time, the current review can also…

    2022-07-28
  • Why did the crypto market skyrocket after raising interest rates by 75 basis points?

    Powell raises rates by 75 basis points, but Nasdaq and Bitcoin are surging. What exactly is going on? While I don’t agree with the market narrative unfolding here, let me try to explain why we are witnessing such a rebound. Despite publicly acknowledging that economic growth is softening, the Fed has unanimously decided to raise rates by 75 basis points — all because of inflation, inflation and inflation. But the market finally started to bounce back only when Powell went on to say the following: “Our current level is broadly in…

    2022-07-28 News
  • The interest rate hike landed, Powell made a speech to boost the market, and BTC rose for a short time

    The Fed wrapped up a two-day meeting with Fed Chairman Jerome Powell announcing another 0.75 percentage point rate hike as policymakers try to cool decades of high inflation. Major stock indexes surged, with the Nasdaq 100 on track for its best one-day gain since November 2020, as Federal Reserve Chairman Jerome Powell spoke at a news conference and suggested the central bank may slow the pace of interest rate hikes. At the same time, the crypto market rallied for a short time, with Bitcoin breaking above $23,000 at one point. Previously, the market had…

    Bitcoin News 2022-07-27
  • Thinking triggered by the explosion of Aptos: Is the new public chain still worth our investment?

    If a public chain chooses to sacrifice decentralization for performance and scalability in order to replace Ethereum, then he will be eliminated. Author: Akong Original title and link: “Public chain, is it worth investing in? 》 The news about the new era public chain is very hot recently, which reminds me of Spencer, the famous encryption venture capitalist of BlockChain. This guy said in the second half of 2019 that “the door of the public chain has been welded to death”, and many industry leaders also shouted that Near is…

    2022-07-27
  • The most destructive bear market in the history of digital assets from data

    As the crypto market develops and matures, the influence of macroeconomic factors on the crypto market is gradually increasing, as the Federal Reserve is expected to raise the benchmark interest rate by 0.75%, which is the largest rate hike in nearly 30 years, Bitcoin, Ethereum and other Prices of major cryptocurrencies fell on Monday. The total market capitalization of all cryptocurrencies has fallen to $1 trillion from $1.08 trillion last Wednesday, according to data provided by CoinMarketCap. In fact, like traditional markets, the cryptocurrency space is cyclical, but compared to previous…

    Bitcoin News 2022-07-27