Bitcoin News

  • BTC fund jointly promoted by JPMorgan Chase and Wells Fargo to recommend clients to crypto giant NYDIG

    According to Dailyhodl, according to documents filed with the US Securities and Exchange Commission (SEC), banking giants JP Morgan Chase and Wells Fargo are preparing to cooperate with cryptocurrency giants New York Digital Investment Group (NYDIG) to launch a new Bitcoin fund. NYDIG is a technology and financial services company focused on Bitcoin and a subsidiary of investment management company Stone Ridge Asset Management. Public information shows that Stone Ridge was established in 2012, its full name is Stone Ridge Asset Management LLC, which mainly provides alternative asset management services. The founder…

    Bitcoin News 2021-08-24
  • Popular science: Bitcoin’s UTXO model

    Synopsis Bitcoin does not use the “account-balance” model to express value. On the contrary, it takes coins as the primary concept, and each money is held by Bitcoin users. An unspent transaction output (UTXO) represents “a whole block” of Bitcoin. UTXO is used as input for Bitcoin transactions. The UTXO model makes Bitcoin better than traditional financial systems in terms of auditability, transparency and efficiency. What is UTXO? An unspent transaction output (UTXO) represents a certain amount of Bitcoin. Multiple UTXOs can be combined, and a single UTXO can also be split to make…

    2021-08-24
  • Risk measurement of Bitcoin pricing

    Abstract: This article discusses the risk measurement of Bitcoin pricing, and briefly introduces its application in high-frequency quantitative strategies and futures margin setting. A deeper understanding of the Bitcoin market may provide more reference for regulators. There is a spread in the price of Bitcoin on various spot exchanges. In order to represent the market consensus price of Bitcoin, Bitcoin Derivatives Exchange uses its own custom index, such as BitMEX’s .BXBT index (calculated based on the weighted average of the “latest transaction prices” of each component exchange used by it ) And Deribit’s BTC- USD index (calculated based on the average…

    2021-08-24
  • Temporary ban will be lifted on September 22, Iran’s permitted miners will resume mining

    Previously, due to the need to maintain a stable power supply for other users, Iran decided to shut down cryptocurrency mines during peak power consumption. However, this temporary ban will be lifted on September 22. According to Bitcoin .com news that Iran generation, distribution and transmission companies Tavanir pointed out that monetary mining encryption temporary ban will be lifted on September 22. Tavanir spokesperson Mostafa Rajabi Mashhadi said that electricity consumption throughout Iran is expected to drop before the end of summer. He pointed out that the reduction in electricity demand when the temperature starts…

    Bitcoin News 2021-08-23
  • Bitcoin breaks through $50,000 and hits a new high since May 15

    After nearly three months of weak performance, Bitcoin has once again surpassed the $50,000 mark since mid-May. In the past three months, Bitcoin has been hovering between $30,000 and $40,000. As of press time, the maximum rose to $ 50,243.90 bitcoins, now offer $ 49,961.58, up 2.95% intraday, while Ethernet Square also rose to $ 3327.67, days, or about 4.6%. According to CoinGecko data, the current market capitalization of Bitcoin accounts for 42.4%, and the market capitalization of Ethereum accounts for 17.6%. The total market value of cryptocurrencies has reached $2.2 trillion. Three Arrows Capital…

    2021-08-23
  • Bitcoin off-chain transactions bring a multi-billion dollar market. What are the new opportunities for blockchain expansion?

    Overview Since the beginning of 2021, the amount of assets transferred on the blockchain every week has reached hundreds of billions of dollars, and the average weekly transaction volume of Bitcoin, Ethereum , USDC and Tether (on Ethereum) is 236 billion U.S. dollars. These huge transactions have generated billions of dollars in transaction fees: since the beginning of 2021, Ethereum transaction fees were US$4.1 billion and Bitcoin was US$900 million. Blockchains such as Solana focus on increasing competitiveness through capacity expansion and obtaining more transaction fees. In order to quantify the opportunities that expansion can bring, I conducted…

    2021-08-23 Bitcoin News
  • China Railway Emergency Response Letter of Inquiry: The reported 4,418 Bitcoins have been sold and related fees have been paid

    In response to the “Inquiry Letter” issued by the Shanghai Stock Exchange on August 10, China Railway Emergency (603300.SH) gave a detailed response after 9 days, including the “Zhejiang Huatie Emergency Equipment” in response to the “Inquiry Letter” Science and Technology Co., Ltd. Announcement on Responses to Inquiry Letters Regarding Media Reports, “Special Notes on Financial and Accounting Issues”, “Legal Opinions”, etc. Affected by the real-name report of EBON.US on August 8, the stock price of China Railway’s emergency secondary market has continued to be sluggish. Since August, China Railway’s…

    Bitcoin News 2021-08-20
  • How is El Salvador’s Bitcoin plan progressing?

    Central Bank of El Salvador has issued two drafts on August 17 to guide banks and financial institutions on how to provide BTC- related services to customers . The first draft is called the “Digital Wallet Platform Bitcoin and U.S. Dollar Authorization Operation Guide”. The draft stated that starting from September 7th, BTC will be officially adopted as a legal currency. The second draft is called “Technical Standards for Promoting the Application of Bitcoin Law”, which states that financial entities must apply to the central bank to provide digital wallets. The application program must specify the type…

    Bitcoin News 2021-08-19
  • The total capacity of the Lightning Network reaches 2304.74 BTC, what is China’s share?

    Due to the increase in transactions on the blockchain at present, the network has gradually become slow, so many layer 2 expansion plans have been born to reduce the problem of soaring GAS fees and network congestion. The Lightning Network is a layer 2 payment product built on the Bitcoin blockchain, which can realize secure, private and near-instant transactions at very little or even free cost. The design was first proposed in the paper “The Bitcoin Lightning Network: Scalable Off-Chain Instant Payments” in February 2015 . Its main principle is to put a large number of transactions outside the Bitcoin…

    2021-08-19
  • Putin signs a decree requiring government officials to declare details of crypto asset holdings

    Russian President Putin signed the country’s 2021-2024 national anti-corruption plan. As part of the plan, Putin asked the Ministry of Finance, the Ministry of Labor, the Ministry of Digital Development, and the Central Bank to inspect officials who are obliged to disclose their digital assets and currencies. According to the Russian business news portal RBC, government agencies and Russian banks must submit proposals before November 15. These institutions must also analyze the current practice of disclosing digital asset ownership information and controlling their acquisition costs. In order to ensure that in the…

    Bitcoin News 2021-08-19
  • Decoding Bit Mining’s 2.8 billion revenue, 95% of the mining pool revenue, and a loss of nearly 100 million

    Editor’s note: The revenue of 2.8 billion also brings operating costs of 2.8 billion. It remains to be seen whether Bit Mining’s comprehensive transformation of the cryptocurrency business is correct. On August 17, China’s concept stock Bit Mining (formerly China Mining), which was listed in the United States, announced its second quarter 2021 financial report. The financial report shows that Bit Mining achieved net income of approximately 2.873.9 billion yuan (approximately US$445.1 million) in the second quarter, an increase of 146 times from the previous quarter. In the second quarter of 2021,…

    2021-08-18
  • Fidelity: 90% of top customers are asking about Bitcoin

    According to bitcoinmagazine news, bitcoin has become the main focus of Fidelity’s investment in digital assets department. In an interview with the Boston Globe, Fidelity’s head of sales and marketing Christine Sandler stated that 90% of Fidelity’s top customers are asking about Bitcoin. American Fidelity Investment Group (Fidelity Investment Group) is currently the world’s largest professional fund company. Fidelity Investment Group has branches in 15 countries and regions around the world. At present, the assets under management for more than 12 million investors around the world are as high as US$1 trillion, accounting…

    Bitcoin News 2021-08-18
  • Gold and Bitcoin: is it an enemy or a friend?

    There are always people in the market who see Bitcoin as a kind of “new gold” or “digital gold”. First of all, let’s understand why everyone always likes to compare Bitcoin and gold together. Simply put, there are many similarities between the two. On the supply side, the mining and mining of Bitcoin and gold is decentralized, and ownership is also decentralized; and unlike traditional currencies, their supply cannot be created by law or monetary policy. On the demand side, Bitcoin and gold also have similarities. Both of these assets are seen…

    Bitcoin News 2021-08-17
  • How would Hayek and Friedman view Bitcoin?

    This is a legendary debate between two great men of monetary economics in the 20th century. The focus of the debate is whether the “challenger currency” will replace the government-supported standard currency and become the world’s most popular payment medium. Although Bitcoin has only been a few decades since its invention, what might these two great men think about Bitcoin? Do they think that Bitcoin is likely to rise and become a competitor to fiat currencies? Party debate is to promote classical liberal Austrian-born British economist Friedrich Hayek •  (Friedrich Hayek), the counterparty is advocating a free…

    2021-08-17
  • Bitcoin’s computing power continues to rise, miners’ daily income reaches the level of early February

    Following the tide of mining machines going out to sea in June this year, Bitcoin’s computing power has continued to rise. According to BTC.com data, as of 15:00 on August 16, the average computing power of the past day was 143.12EH/s, the average computing power of the past three days was 127.81EH/s, and the average computing power of the past 7 days was 118.75EH/s. s. From the low point of 68.01EH/s on June 28 this year, it has rebounded by 110%. The rising trend of Bitcoin computing power is very obvious. Based on…

    2021-08-16 Bitcoin News
  • Why does Bitcoin transfer have to wait for 6 confirmations to arrive?

    Many small partners who have just been in contact with the blockchain may be puzzled when they see that “Bitcoin transactions require 6 block confirmations”. Why do we need 6 blockchain confirmations? Is it confirmed by the 6 Bitcoin miners on the entire network? Today, Da Bai will explain to you the principles. In the article “What is a 51% hashrate attack” , Dabai introduced to everyone that after successfully launching a 51% hashrate attack, double spending can be achieved. Let’s briefly review the process of double spending: Suppose that Xiao Hei sends 666 BTC to…

    2021-08-16
  • Feng Lun: My opinion on Bitcoin is different from Munger’s

    Question : Uncle Feng, I have heard many people talk about Bitcoin in recent years. Some people say that this is a “decentralized currency” that represents the future. Some people say that it can be used as an investment product. Others think it is a product of speculation. Others hold a very negative view of it, such as Munger. . At Berkshire Hathaway’s annual meeting this year, he said: “Of course I hate the success of Bitcoin. I don’t welcome a currency that is so useful to kidnappers and blackmailers, and I don’t…

    Bitcoin News 2021-08-16
  • Four U.S. wealth management companies disclosed that GBTC holdings totaled more than 250,000 shares in the second quarter

    The U.S. Securities and Exchange Commission (SEC) public documents show that four U.S. wealth management companies have disclosed the Grayscale Bitcoin Trust (GBTC) holdings as of the second quarter of 2021, which further proves that institutions are increasing the adoption of digital assets. . The documents show that as of June 30, 2021, Clear Perspective Advisors, a wealth management company located in Illinois, directly holds 7,790 shares of GBTC; Ancora Advisors, headquartered in Ohio, bought 13,945 shares of GBTC; Boston Private Wealth, based in Boston, increased its holdings of 88,189…

    2021-08-16 Bitcoin News
  • Compared with other major industries: How is Bitcoin’s energy usage?

    How much energy does Bitcoin use? According to the data from the “Third Global Encrypted Asset Benchmark Study” by the University of Cambridge, we can calculate that the carbon intensity of the Bitcoin network is approximately per kilowatt before China’s ban on Bitcoin mining in June 2021 and the outflow of Chinese mining in July. Hour (kWh) 420 grams of carbon dioxide. Figure 17 in the Cambridge research report (page 27), as shown in the figure below, shows the typical energy sources of miners around the world. Picture : Energy Sources by…

    2021-08-15 Bitcoin News
  • If Friedman and Hayek were still alive: what would they think of Bitcoin?

    This is a legendary debate between two giants of monetary economics in the 20th century. The focus of the debate is whether there will be a “challenger currency” that can replace the government-issued legal currency and become a new payment medium on a global scale. Although for them, Bitcoin is a product decades later, if the two masters are still alive, what will they think of Bitcoin and will they think that it is capable of challenging fiat currencies? The first to play was the Austrian-born British economist and classical liberalist Friedrich Hayek….

    2021-08-15