Bitcoin News

  • What is the new gameplay in El Salvador? Bitcoin-based “volcano bond” hopes the giant whale pays

    El Salvador issues Bitcoin- based “volcano bonds” On the evening of November 20, local time, President Nayib Bukele of El Salvador announced at the Bitcoin Conference LABITCONF that El Salvador will issue a $1 billion bond with a ten-year bond period and an annual interest rate of 6.5%. The funds raised from the bond issuance will be used to build a city called the “Bitcoin City”. Since the city mainly uses volcanic heat to generate electricity, the bond is also known as the “Volcano Bond.” At the same time, El Salvador reached a…

    Bitcoin News 2021-11-24
  • What is a “Bitcoin ETF” that does not hold Bitcoin?

    In recent weeks, the most lively event in the global currency circle is that the ” Bitcoin ETF” has been approved by the U.S. Securities and Exchange Commission (SEC) and officially listed for trading on the New York Stock Exchange. According to a report from Hong Kong Singularity Finance, the three asset management companies ProShares, Valkyrie and Invesco launched their own Bitcoin futures contract ETFs almost simultaneously. However, at the last minute, only ProShares and Valkyrie were approved, and Invesco announced its withdrawal. The ETF codes launched by ProShares and Valkyrie are BITO…

    Bitcoin News 2021-11-23
  • El Salvador will build the world’s first “Bitcoin City”: use volcanic geothermal power to generate electricity and only charge value-added tax

    November 21, President of the Central American countries of El Salvador Booker (Nayib Bukele) announced that the country plans to build the world’s first ” Bitcoin City” ( Bitcoin City), in order to attract foreign investment. In September of this year, El Salvador officially used Bitcoin as the national legal tender alongside the U.S. dollar. Booker said that “Bitcoin City” will use volcanic geothermal energy as energy and will not levy any taxes except for value-added tax. In addition, El Salvador will issue the world’s first Bitcoin sovereign bond, in which general funds will be converted…

    2021-11-22
  • El Salvador will build the world’s first “Bitcoin City”

    Following El Salvador’s formal legislation in September 2021 to determine the status of Bitcoin as a national legal tender, El Salvador has made major moves recently. El Salvador is holding a week-long Bitcoin promotion recently, with industry giants such as Bitfinix and Blockstream attending the conference. El Salvador’s President Bukele stated at the meeting on November 20 that El Salvador plans to build the world’s first “Bitcoin City”. Bukele said that the city plans to be located in the eastern region of La Union, and will obtain geothermal energy from the volcano, without levying any…

    Bitcoin News 2021-11-22
  • El Salvador will create a “Bitcoin City” and plans to purchase an additional $500 million worth of cryptocurrency

    President Nayib Bukele of El Salvador said in a speech at the El Salvador Bitcoin Week on Saturday night that El Salvador is the only country that uses Bitcoin as a legal tender. Next, they will build the entire city on the basis of the largest cryptocurrency. “Bitcoin City” will be located near a volcano on the coast of Fonseca Bay. The President said that the government plans to build a power plant next to the volcano to provide energy for the city and Bitcoin mining. According to Bukele, Bitcoin City will…

    Bitcoin News 2021-11-21
  • Why is Bitcoin spot ETF difficult to produce? U.S. SEC lists seven questions

    Bitcoin spot ETF deadline rejected On November 12, the SEC rejected VanEck’s Bitcoin spot ETF application. On March 1 this year, Cboe BZX exchange submitted an application to the SEC to list VanEck’s Bitcoin spot ETF. According to the normal working process, the SEC needs to give a reply within 180. After the 180-day period expires, the SEC can extend its response by another two months. Therefore, at the beginning of September, the SEC issued an announcement stating that VanEck’s Bitcoin spot ETF application will be responded to before November 14th, and the 14th…

    Bitcoin News 2021-11-18
  • How many people in the world hold Bitcoin? Speaking from the 433 “deaths” of Bitcoin

    Just like the development path of all new things, Bitcoin, the “spoiler” of the imaginative and innovative financial world, has not been smooth sailing in the development process of the past ten years, except for a group of crazy people. In addition to the fans, there are more people who have not been optimistic about Bitcoin since its birth. But in the midst of such “games” and twists and turns, Bitcoin not only succeeded in breaking out of the discussion circle of tech geeks, it attracted worldwide attention, and it also…

    Bitcoin News 2021-11-17
  • Counting down the five big lies about Bitcoin, have you been slapped?

    Original title: What lies about Bitcoin scared countless people into regretful things? British Prime Minister Benjamin Disraeli once said, ” There are three kinds of lies in the world: lies, terrible lies, and statistics .” Bitcoin is often associated with various lies and misunderstandings. The following 5 items are the most common misunderstandings we have collected. Bitcoin funded terrorism Do you know who is financing terrorism? It is a terrorist and a sympathizer of terrorists. If you want to blame a currency, think of the US dollar, because the US dollar has been used to fund…

    Bitcoin News 2021-11-15
  • The U.S. government escalates its crackdown on hacker organizations and recovers large amounts of Bitcoin ransoms

    Recently, the U.S. government has escalated its crackdown on hacker organizations. The Department of Justice announced that it has confiscated US$6.1 million in ransom payments related to hacker attacks and arrested the alleged hackers. The Ministry of Finance announced sanctions on the cryptocurrency exchange Chatex. A series of new laws and actions aimed at limiting the number of cryptocurrency crimes may have originated from an attack on Colonial Pipeline, a US pipeline company that occurred earlier this year. Colonial Pipeline’s data is encrypted by cyber thieves who demand Bitcoin ransom in exchange for information….

    Bitcoin News 2021-11-15
  • Bitcoin network completes Taproot upgrade, the market is calm

    According to data from Ouke Cloud Chain, at 13:18 on November 14th , Beijing time, the block height of the Bitcoin network reached 709632, which activated the Taproot upgrade of Bitcoin. The upgraded Bitcoin network introduces the Schnorr signature scheme, the data structure of MAST (Merkel tree) and the new Tapscript scripting language. As described in the updated Github documentation of Taproot, the combination of the three “will expand Bitcoin’s smart contract Flexibility and at the same time provide more privacy by allowing users to cover up complex smart contracts with ordinary Bitcoin transactions.” The activation of Taproot…

    Bitcoin News 2021-11-14
  • The Bitcoin network successfully completed the Taproot soft fork upgrade. Why is it so significant?

    On November 14, after miners and mining pools reached a 90% lock consensus between block heights 709,488 and 709,632, the Bitcoin network successfully activated the Taproot soft fork. This milestone marks the first major upgrade of Bitcoin since August 2017, when Bitcoin’s leading second-layer solutions-Lightning Network and Segregated Witness (SegWit) were launched. The Taproot upgrade aims to improve the scripting capabilities and privacy of the Bitcoin network. For this reason, this soft fork introduced the concept of Merkel Abstract Syntax Tree (MAST). According to the Taproot dedicated website run by the famous Bitcoin developer Hampus…

    2021-11-14
  • Bitcoin market value exceeds Facebook and Tencent: enter the world’s top five

    Just this week, BTC hit an all-time high of $68,500, which also brought its market value to $1.3 trillion. The market value surpassed Facebook and Tencent, and squeezed into the top five in the world. BTC and ETH hit record highs consecutively Just this week, the cryptocurrency BTC broke through $68,500 for the first time on Monday, setting a record high. Since the beginning of October, the market has been in a slow bull mode. According to data from CoinMarketCap, the total market value of BTC has reached nearly $1.3 trillion. As widely…

    Bitcoin News 2021-11-13
  • After repeated delays: U.S. SEC finally rejects VanEck spot Bitcoin ETF application

    After several delays, the US Securities and Exchange Commission (SEC) today rejected the investment company VanEck ‘s application for an ETF that directly tracks the price of Bitcoin . In the document regarding its decision, the SEC once again mentioned the fear of “fraud and manipulation” in the Bitcoin spot market. So far, the SEC has only allowed the listing of Bitcoin ETFs (contracts that bet on the future price of Bitcoin and regulated by the CFTC) linked to futures. VanEck submitted a registration form to the SEC at the end of last year to activate…

    Bitcoin News 2021-11-13
  • The Bitcoin Taproot upgrade is imminent: what are its sources, content and impact?

    In the near future (around November 14, 2021), Bitcoin will usher in an important soft fork to upgrade Taproot. More than 90% of the miners have agreed to this upgrade, so it is unlikely that there will be a SegWit upgrade. Community fork debate. It seems that this upgrade has not attracted much attention, but there are also many articles calling it the most important upgrade. What exactly is the Taproot upgrade, and is it really exciting? Taproot itself means taproot plant, which is probably like the picture below. Gregory Maxwell, the creator of…

    2021-11-12
  • Report: 284 million trees need to be planted to absorb the carbon dioxide emitted by BTC each year

    According to “Fortune” news, a new research report has calculated how large-scale afforestation is needed to offset the massive carbon footprint of encrypted digital currencies such as Bitcoin and Ethereum . Data shows that if you want to absorb the large amount of carbon dioxide emitted by Bitcoin every year, 284 million trees need to be planted. According to the “Global Impact of Crypto Trading” report released by Forex Suggest, in order to eliminate the pollution caused by Bitcoin mining, it is necessary to start the world’s largest Large-scale afforestation. The reason is simple: Bitcoin consumes…

    Bitcoin News 2021-11-12
  • Cook supports cryptocurrency: Analyze the entanglement between Apple and Bitcoin

    Recently, Apple finally let go. CEO Tim Cook said: “The company is studying cryptocurrency.” At the DealBook online summit, Apple CEO Tim Cook said that as part of a diversified investment portfolio, he holds cryptocurrency, but Apple will not accept Bitcoin as a payment method for buying the company’s products in the short term . Cook emphasized that he has been interested in cryptocurrency for some time, and has always been studying this field, but he will not provide investment advice to anyone, and he also ruled out the possibility of Apple using company funds…

    2021-11-10
  • Bitcoin breaks through $68,000 and continues to hit a record high

    In the intraday trading on November 9, Bitcoin hit a record high again, surpassing $68,000 per coin for the first time. Up to now, it is reported to be 68,406 US dollars per piece, an increase of 4.6% in the day. Along with Bitcoin, it also set new highs with Ethereum ETH , which exceeded $4,800 per coin for the first time. Thanks to capital flows, good news and inflation concerns, BTC has risen by about 58% and ETH has risen by about 61% since October . According to data from Coin Gecko, the global cryptocurrency market value exceeded US$3 trillion on November 8, and…

    2021-11-09
  • Central Bank CryptoCurrency: Policy Issues

    Currently, countries all over the world are scrambling to carry out digital currency research, but the United States has yet to make a clear resolution on its CBDC. This article details what CBDC is, how CBDC will change the current financial landscape, what steps are being taken by other parts of the world to develop CBDC, the range of potential design features of CBDC, and the policy issues that CBDC brings. The Financial Technology Research Institute of Renmin University of China compiled the core part of the report. Introduction The U.S. monetary…

    Bitcoin News 2021-11-08
  • Understand the Bitcoin Taproot upgrade in one article

    Taproot upgrade content Taproot is the first change to the Bitcoin protocol since the Segwit upgrade in 2017 . The upgrade includes three independent Bitcoin Improvement Proposals (BIP): BIP340, BIP341, and BIP342. BIP340: Replace Elliptic Curve Digital Signature Algorithm (ECDSA) with Schnorr signature BIP341:Merkelized Alternative Script Trees (MAST) BIP342: Reform of Bitcoin’s scripting language through “Tapscript” In general, Taproot uses the features unlocked by Schnorr to make new and complex transaction types possible on the chain. The upgrade is gradually advancing Taproot is a foregone conclusion As early as the beginning of the 18th, after Gregory…

    2021-11-08
  • A Bitcoin Volume and Price Index: Application of Quantile Regression

    Abstract: This article uses quantile regression and other methods to construct a Bitcoin volume and price indicator, and briefly describes its application scenarios. A deeper understanding of the Bitcoin market can provide more references for regulators. People analyze Bitcoin’s trading volume and price changes in order to predict its future price. Although we believe that the price of Bitcoin at the next moment is difficult to predict, through its volume-price relationship, we can still obtain some information from it and make a rough estimate of its price at a particular moment. 1. A special case of the relationship…

    2021-11-08 Bitcoin News