Bitcoin News

  • Incomplete history of Bitcoin development

    To fully understand the reasons behind the status quo of Bitcoin development, one has to understand some historical events. This article focuses on historical events, software releases, and bug fixes before and after Satoshi Nakamoto left the project; an additional chapter was added to describe the current status of Bitcoin development. The timeline attached to the article provides additional details for each event. For most of the events here, I am not a witness. So a large part of this timeline is quoted from a lecture entitled “The History and Philosophy of Bitcoin Development” by John…

    Bitcoin News 2021-09-23
  • How does Bitcoin face the possible economic crisis?

    Anyone who knows cryptocurrency knows that the environment in which Bitcoin was born was in the global financial crisis triggered by the US subprime mortgage crisis in 2008. Therefore, Bitcoin has been regarded by many people as the savior of the economic crisis, and 2008 has passed. Thirteen years later, it just happened that the recent remarks about the economic crisis caused by the bankruptcy of a Chinese real estate company were rampant, and the crypto market has been falling like the traditional market. After more than a decade, things seem to have not developed…

    Bitcoin News 2021-09-23
  • Bitcoin mining difficulty has soared 31% since July

    As the Bitcoin network hash rate continues to recover as miners around the world accumulate more capacity, cryptocurrencies have become increasingly difficult to mine. According to data from the blockchain browser BTC.com , on Tuesday, the Bitcoin network once again released a mining difficulty adjustment, which rose 3.2% to a difficulty rate of nearly 19 trillion. The latest adjustment made up for the fifth consecutive surge in the difficulty of Bitcoin (BTC) mining since mid-July. The difficulty has increased by more than 31% from about 13.7 trillion, which is the lowest difficulty level since June 2020. Due to…

    2021-09-23
  • Is it possible for a Bitcoin ETF to be approved within this year? Beginning with the delay of the SEC’s application for VanEck again

    According to the information on the official website of the United States Securities and Exchange Commission (SEC), the approval decision time for VanEck Bitcoin Trust, the Bitcoin ETF product submitted by VanEck, has been postponed again, saying that it plans to use another 60 days for the review, and the final result will be Released on November 14. It is understood that VanEck Bitcoin Trust is currently one of the 6 most competitive Bitcoin ETF products in the market. The remaining 5 are WisdomTree, Kryptoin, Valkyrie, SkyBridge, and Wise Origin (submitted by Fidelity). Currency ETF application. According to…

    2021-09-22 Bitcoin News
  • How will the Evergrande crisis affect the Bitcoin market?

    The first is S&P. Then there is Moody. Then Fitch. And this morning it was JPMorgan Chase. Now it is difficult for anyone not to know the heavy news of Evergrande’s thunder; the tens of billions of collateral thunderstorms have made many critics think that Lehman’s mess looks like a second kick compared to this news. This time, it is unlikely that Chinese regulators will make a rescue operation similar to the historical one. If Evergrande goes bankrupt, there may be no more orders. Bitcoin may be the perfect solution to resist shocks, and…

    Bitcoin News 2021-09-22
  • When major real estate companies in New York City start adopting Bitcoin, what impact will it have on the industry?

    Bitcoin adoption is on the rise, and major industries are beginning to realize that Crypto is something they cannot ignore. Therefore, major companies are taking action to adopt Crypto payments. After El Salvador adopted Bitcoin as legal tender, New York City began to adopt Bitcoin , which caused a storm in the real estate sector. A large real estate company in New York City announced that it would sell some of its major real estate to buy Bitcoin and opened the transaction to buyers from all over the country, including mainland China and…

    Bitcoin News 2021-09-21
  • Walk into the “Bitcoin” village in El Salvador from the first perspective

    Lightning fast I’m standing in a small coffee shop next to an unpaved street in a Central American village with no traffic lights, and driving west along a winding jungle road from the nearest major city for an hour. I walked there from the hotel, passed by six restaurants with sheet metal and tarpaulin roofs, and carefully descended the steep muddy ravine that the locals used to get from the main road to the beach. El Zonte (village) is hot and humid, and the nearby ocean is rough and brown due…

    2021-09-19 Bitcoin News
  • 8 bitcoins can be used to scrap an RTX 3090 graphics card

    It only takes 8 small Bitcoin transactions to produce a waste of scrapped Nvidia GeForce RTX 3090 graphics card. This is a conclusion drawn from a report on the electronic waste of the basic cryptocurrency infrastructure. One transaction is equivalent to throwing away Two iPhones. There are many articles on the ecological impact of cryptocurrencies such as Ethereum and Bitcoin, but not many articles on the impact of e-waste generated by “mining”. According to a study published by economists from the Dutch Central Bank and the Massachusetts Institute of Technology, “Bitcoin’s increasingly serious e-waste problem”, it…

    2021-09-19
  • Is Bitcoin safe? In-depth exploration of Bitcoin’s security model (part 2)

    (Continued) Misunderstandings of the Security Model In addition, every blockchain system hardcodes the genesis block into the node software. You might think that “shared history” (ie, ledger) is a social contract-once a block has a long enough history, all participants in the network will reach a consensus that this block will never be Will be rolled back. When a developer selects an early mined block and uses it to create a checkpoint, it is more of a recognized integrity check than an objective description of history. In addition to checkpoints, how the…

    2021-09-18 Bitcoin News
  • Is Bitcoin safe? In-depth exploration of Bitcoin’s security model

    People often have disputes when discussing the consensus mechanism of different cryptocurrencies, mainly because they lack an understanding (definition) of the security models used by these cryptocurrencies to protect historical data in the ledger. Although the security model of each consensus mechanism is designed to prevent various theoretical attacks, it is important to understand the purpose of these models. The security model can be divided into two parts: assumptions and guarantees. If the assumption used as an input holds, the guarantee of the output of the safety model should also hold. Let’s…

    2021-09-17 Bitcoin News
  • Protesters against Bitcoin becoming legal tender in El Salvador burn Bitcoin ATM machines

    The Central American country of El Salvador just became the first country in the world to use Bitcoin as legal tender last week . The 15th of this month coincided with El Salvador’s Independence Day. Thousands of demonstrators rushed to the streets of the capital San Salvador to protest against President Booker’s authoritarian push for Bitcoin to become the country’s legal tender. According to a report by the BBC on the 16th, “anti-bitcoin” protests have appeared in Saskatchewan since July, and the demonstrations on the day of Independence Day pushed the protests to a climax. During…

    2021-09-17
  • SBF: It is not impossible for the market value of Ethereum to exceed Bitcoin

    Recently, FTX founder Sam Bankman-Fried (SBF) accepted an interview with Cointelegraph. In the interview, SBF talked about FTX’s next marketing actions, its views on the recent decline in Bitcoin, its views on the relationship between DeFi and traditional finance, and encryption The method of arbitrage in the field, finally talked about the NFT platform launched by FTX. Moderator: We have invited Sam Bankman-Fried, a pioneer in the DeFi field. He was selected for the 2021 Forbes list of rich people under 30. Since 2019, FTX, a cryptocurrency trading platform specializing in derivatives, has been operating. One…

    Bitcoin News 2021-09-15
  • Through these dozens of questions and answers, truly understand the views of local people in El Salvador on BTC

    On June 9, 2021, the Salvadoran Congress voted to approve the proposal of Bitcoin as legal tender submitted by the President , and El Salvador became the first country in the world to recognize Bitcoin as legal currency. September 7, 2021 is the first day that Bitcoin officially becomes the legal tender of El Salvador. Faced with the President of El Salvador, who is actively embracing Bitcoin, public opinion has shown a variety of different opinions. Previously, a poll conducted by the University of Central America (UCA) showed that most Salvadorans disagree with the government’s decision…

    2021-09-14
  • Graphical overview of local Bitcoin adoption in El Salvador

    As Bitcoin officially became legal tender in El Salvador, Bitcoin slowly became popular in this Central American country. A reporter traveling to El Salvador, van Wirdum, shared his experience of using Bitcoin to pay at McDonald’s in El Salvador on Twitter: I just walked into a McDonald’s in El Salvador and wanted to see if I could pay for my breakfast with Bitcoin, and looked forward to the clerk’s response. I said no. But look, they printed a ticket with a QR code and took me to a web page with Bitcoin Lightning Payment, and…

    2021-09-10 Bitcoin News
  • Billionaire Lee Cooperman: Bitcoin doesn’t make much sense

    Lee Cooperman, chairman and CEO of hedge fund Omega Advisors, admitted that although Bitcoin has risen by more than 300% since the beginning of December 2017, he still does not understand Bitcoin. In an interview with CNBC on Thursday, the billionaire investor hinted to people that it is difficult for people his age to understand Bitcoin, and added: “I will be very cautious about Bitcoin; I don’t think it makes much sense. If you are upset about the world, for me, gold will be a better place to store value.” Cooperman’s statement…

    Bitcoin News 2021-09-10
  • El Salvador Bitcoin experimented with a “financial disaster” in a small country with a population of 6 million?

    Despite many controversies, the Salvadoran government insisted on its previous decision: to use Bitcoin as a national legal tender. Three months ago, the National Assembly of El Salvador passed the Bitcoin bill submitted by the President of El Salvador, Nayib Bukele, by an absolute majority. On September 7, the bill came into effect. As a result, El Salvador became the first country in the world to adopt Bitcoin as its legal tender. But the first person to eat crabs may be a brave person, but not necessarily a person who can eat crabs…

    2021-09-10 Bitcoin News
  • What are the big companies that invested in Bitcoin now?

    2021 is destined to be an extraordinary year. Bitcoin has repeatedly broken new highs since the beginning of 2021, setting records and attracting a lot of attention. Among these eyes, there are many attractive institutions. The entry of institutions keeps Bitcoin prices high. There are also lively discussions in the currency circle. Bitcoin has finally ushered in the dawn, which has attracted institutional investment and will expand the application of Bitcoin. Bitcoin price trend in 2021 Source: Coindesk Number of Bitcoins held by listed companies Source: Coingecko Top 20 listed companies holding Bitcoin Source:…

    2021-09-09 Bitcoin News
  • An article to understand how Schnorr signatures improve Bitcoin

    When reading the MuSig paper written by Blockstream, I have been imagining what this means for me as a Bitcoin user. I find some features of Schnorr signatures are really great and convenient, but some features are very annoying. In this article, I hope to share my thoughts with you. But let’s review it quickly. Elliptic Curve Signature Algorithm The current Bitcoin ownership system uses ECDSA (Elliptic Curve Signature Algorithm). When signing a message m, we first hash the message to obtain a hash value, namely z = hash(m). We also need a random number…

    2021-09-09 Bitcoin News
  • Fragmented El Salvador and Volatile Bitcoin

    At 23:00 on September 7th, Beijing time, the cryptocurrency led by Bitcoin dived in a short-term. According to FTX data, BTC fell below $43,000 in a short-term. Subsequently, the President of El Salvador, Nayib Bukele, said on Twitter that he bought 150 bitcoins again just when the bitcoins just fell. El Salvador currently holds 550 Bitcoins. It was around 9 o’clock on September 7 in El Salvador , and it was also the first day that Bitcoin officially became the legal tender of El Salvador. On June 9 this year, El Salvador’s parliament passed a bill approving Bitcoin as the country’s legal tender. The…

    Bitcoin News 2021-09-08
  • BTC has officially become the legal currency of El Salvador and Ethereum continues to be destroyed

    On September 8th, on September 7th Beijing time and September 7th El Salvador time, the ” Bitcoin Act” of El Salvador came into effect, and Bitcoin officially became the legal tender of El Salvador. Currently, Bitcoin and the U.S. dollar are used as the legal tender of El Salvador at the same time. Residents of this country can download the government’s digital wallet for free, and the downloader will receive $30 worth of Bitcoin during the setup process. The President of El Salvador, Nayib Bukele, tweeted that El Salvador had purchased the first 200 bitcoins…

    2021-09-08