Doble gasto de Bitcoin detectado en la naturaleza

BitMEX Research ha identificado lo que cree que es una transacción de Bitcoin de doble gasto… por valor de 21 dólares.

BitMEX Research ha identificado una presunta transacción de doble gasto valorada en 0,00062063 BTC o aproximadamente 21 dólares – y no parece ser un caso de ese popular hack de billetera de reemplazo por tarifa.

El 20 de enero, el ForkMonitor de BitMEX señaló que „se produjeron múltiples bloques a la altura 666833“. BitMEX Research tuiteó:

[1/2] Hoy se ha producido un bloque de Bitcoin rancio, a la altura 666.833. SlushPool ha vencido a F2Pool en una carrera.

Parece que se ha detectado un pequeño gasto doble de alrededor de 0,00062063 BTC (21 dólares)https://t.co/o8lz9xagYG pic.twitter.com/IEdPu8JEjt
– BitMEX Research (@BitMEXResearch) 20 de enero de 2021

Una hora más tarde, BitMEX Research atribuyó el bloque huérfano a una transacción RBF, que es cuando una transacción no confirmada es reemplazada por una nueva transferencia que paga una tarifa más alta. Sin embargo, ForkMonitor ha actualizado desde entonces su consejo para decir: „No se han detectado golpes (RBF)“.

El usuario de Twitter y defensor australiano de BSV, Eli Afram, señaló los „mensajes contradictorios“ de BitMEX Research, afirmando que la transacción doblemente gastada debería ser motivo de preocupación a pesar de su pequeño valor:

„Así que parece que se ha producido un doble gasto real en BTC…

No un RBF (replace-by-fee), sino un doble gasto real. Un simple 22USD… pero – esto podría haber sido 22millones“.

Se atribuye al libro blanco de Bitcoin de Satoshi Nakamoto haber resuelto el problema del doble gasto en 2009. El reto de garantizar que una red descentralizada pueda verificar de forma autónoma que las mismas monedas no se han transferido más de una vez había obstaculizado los intentos anteriores de dinero digital.

En julio, la empresa de seguridad de criptomonedas ZenGo identificó un problema de doble gasto que afectaba a varios monederos populares de Bitcoin. Mientras los fabricantes de monederos se movilizaban para solucionar el problema, Hayden Otto, defensor de Bitcoin Cash, advirtió que la vulnerabilidad podría ser inherente a la funcionalidad de reemplazo por tarifa de BTC. Anteriormente había explotado la misma vulnerabilidad en un vídeo viral.

Financiële adviseurs wedden op Bitcoin als een hedge

Een nieuwe Bitwise-enquête benadrukt een gunstiger houding ten opzichte van Bitcoin en cryptocurrencies.

Cryptocurrencies zoals Bitcoin Future worden steeds vaker door financiële adviseurs gebruikt als een hedge tegen inflatie, wat de dramatische verschuiving in institutioneel sentiment naar digitale activa onderstreept.

Uit de „Bitwise / ETF Trends 2021 Benchmark Survey“ blijkt dat 9,4% van de financiële adviseurs in 2020 aan cryptocurrencies toewijst – een stijging van 49% ten opzichte van het voorgaande jaar. Van de adviseurs die momenteel niet toewijzen aan crypto, zei 17% dat ze in 2021 ‚zeker‘ of ‚waarschijnlijk‘ exposure zullen krijgen.

Adviseurs kopen om vele redenen crypto, waarvan de belangrijkste de mogelijke bescherming tegen inflatie is. Zoals Bitwise opmerkte, noemde 25% van de adviseurs inflatie-afdekking als een van de meest aantrekkelijke kenmerken van de activaklasse. Dat is een stijging van slechts 9% het jaar ervoor.

Het rapport zei:

„De enquête van dit jaar zag een sterke stijging van het aantal adviseurs die de ‚hoge potentiële rendementen‘ van crypto en de rol ervan bij ‚inflatiehedging‘ als belangrijke aantrekkelijke kenmerken van de beleggingscategorie benadrukten.“

In totaal namen 994 adviseurs deel aan het onderzoek, tegen 415 het jaar ervoor. Onafhankelijke geregistreerde beleggingsadviseurs vertegenwoordigden 45% van de respondenten, gevolgd door onafhankelijke broker-dealers (25%), financiële planners (19%) en vertegenwoordigers van het draadhuis (11%).

Bitcoin lijkt te profiteren van de systemische devaluatie van de dollar, aangezien steeds meer investeerders afzien van het traditionele financiële systeem. De vrije val van de dollar zal naar verwachting dit jaar doorgaan, nu de aankomende regering van Joe Biden een stimuleringsplan van meerdere miljarden dollars voorbereidt en effectief doorgaat waar Donald Trump was gebleven.

Hoewel instellingen momenteel een kleine fractie van alle Bitcoin-holdings vertegenwoordigen, neemt hun impact op de markt toe

Jeff Currie, directeur van Goldman Sachs, gelooft dat de institutionele acceptatie Bitcoin op de weg naar volwassenheid heeft gezet, maar merkte op dat er meer adoptie nodig is om de activaklasse te stabiliseren.

Het beheerd vermogen van Bitwise steeg in december 2020 tot $ 500 miljoen , een vervijfvoudiging ten opzichte van slechts twee maanden eerder. De recordinstroom van het bedrijf weerspiegelt de nieuwe vraag van investeringsprofessionals, waaronder adviseurs, hedgefondsen en bedrijven.

Why the price of THETA went up 180% in a fortnight, surpassing even Bitcoin

Theta’s price rose 180% in just two weeks, as several highly anticipated advertisements were behind the high

Why the price of THETA went up 180% in a fortnight, surpassing even the BitcoinANÁLISE OF MARKET

Theta Network is a protocol that allows users to watch digital content, such as e-sports, using the blockchain. The native Theta protocol token has increased 180% from $0.867 to $1.92 within two weeks between December 20 and January 2 to overcome even Bitcoin ( BTC ), which continues to rise to new price records.

1 day candle chart THETA / USDT (Binance). Source: TradingView.com
Theta Mainnet 3.0 roadmap was the main catalyst
Typically, native blockchain protocol tokens tend to increase in Bitcoin Cycle review value after high profile ads.

Theta announced its plans to launch Theta Mainnet 3.0 in the spring of 2021. The protocol upgrade allows the network to capture live video and enable live streaming in addition to viewing other videos on the platform.

The development team behind Theta Mainnet 3.0 explained that „EdgeCast“ technology would allow live streaming without a central server. The team explained:

„This new fully decentralised technology adds the ability to capture live video, transcode it in real time, cache and retransmit live video data to users around the world – all via Theta’s state-of-the-art P2P network managed by thousands of community members. No server or central service is used in this pipeline. ”
Two main components in this mainnet version are the introduction of Elite Edge nodes and TFuel recording.

Simply put, Elite Edge nodes tokenize the Internet bandwidth. By betting Theta fuel (Tfuel), which is another native Theta blockchain token, users can win more Tfuel. This process is called business time mining.

Tfuel was essentially transferred to Theta Token holders in 2019 when it was released. Theta Token is the blockchain’s governance token and Theta fuel is the gas token used to pay transaction fees in the protocol.

The Tfuel burning mechanism could further reduce the supply of Tfuel as it burns the supply of Tfuel with the revenues from the fees in the protocol.

The combination of Elite Edge Nodes and Tfuel burning makes Tfuel more attractive, which naturally improves the feeling around Theta Token.

Other announcements were also important
On December 19, Theta unveiled the Theta Wallet Chrome extension on the Google Chrome website. This essentially allows users to use the wallet as Metamask, interacting with the Theta platform.

Before that, on 11 December, Theta completed a main protocol update, launching smart contracts on the main network. The team said at the time:

„The protocol update is a success! New features, including smart contracts and a minimum bet of 1,000 THETA are now implemented onchain, and Theta Portfolio and Explorer have been updated. ”
Due to the consecutive release of highly anticipated advertisements, Theta has been one of the best performing cryptomaps alongside Polkadot (DOT). Santiment analysts noted:

„The end of 2020 and the beginning of 2021 were excellent for #crypto, as the most profitable investment asset of the last decade, #Bitcoin, is close to $30,000. In addition to the 20% week, $ DOT, $ THETA, $ DOGE and $ STX performed even better. ”

Bitwala: EUR 15 million cash injection for Berlin crypto start-up

New products should attract more users across Europe. For this, the Berlin crypto bank Bitwala receives an investment of millions from Profit Revolution scam and other venture capitalists.

The Berlin crypto bank Bitwala recently received funding of over 15 million euros, as Gründerszene reported on Saturday. This was largely led by existing donors like Earlybird. The venture capital firms Global Brain and Coparion were also involved. The latter had already joined a financing round just over a year ago, in which Bitwala raised 13 million euros. The money is to be used to increase the number of users and to publish new products.

Crypto finance: something is brewing

According to their own statements, the Berliners currently have 150,000 customers in 32 countries who hold Bitcoins with a total value of 60 million euros. They use the service to invest in crypto currencies themselves, to store their assets or even to create the assets. Deposits of up to 100,000 euros are secured with the German crypto bank, and the Berlin start-up is working with the banking-as-a-service provider Solarisbank.

The crypto exchange Bitpanda from Vienna recently completed a financing round of over 52 million dollars with the top venture capitalists Hedosophia and PayPal founder Peter Thiels Valar beyond the borders in German-speaking countries . The company valuation is currently said to be over 300 million euros. Bitwala ranks well behind with 64 million euros, but is one of the leading financial crypto providers nationwide.

Bitwala and Co come at the right time

Such services are currently in great demand, also because of the explosive developments in the course. Bitcoin has stabilized above $ 19,000 after yesterday’s all-time high. Observers assume, however, that private investors will increasingly turn to the topic again in the future. Not least because institutional investors recently announced that they had invested in crypto.

As big as N26?

As Benjamin Jones recently made public to the Handelsblatt , the crypto financial service provider wants to be „at least as big as N26“. For this purpose, the company had recently poached the Chief Product Officer Kristina Walcker-Mayer from the online bank. In addition, both Bitwala and N26 share a similar, even partially the same, investor audience. In order to be realistically as big as the smartphone bank, the Berliners would have to try to convince even more investors in the future who, as an external party, can give a current rating. So far, funding has largely come from existing donors.

Officially a crypto bank since 2018

Bitwala was founded in 2015 by Jan Goslicki, Benjamin Jones and Jörg von Minckwitz and started out as a crypto exchange platform. In 2018, the crypto bank had to change its business model because its partner company Wavecrest no longer received a license from Visa. Bitwala then switched its product to its own blockchain-based bank account with a crypto wallet. The account now runs through the banking-as-a-service provider Solarisbank.

Coinbase Temporarily Shut Down (Again) Due to XRP Rise

On November 24, the price of XRP jumped to over $ 0.90, before falling rapidly by about 30%.

This course was only seen on Coinbase and as a result of the madness its website temporarily went down.

XRP is benefiting from an extended price rally, but still falls short of its previous all-time highs

The price of Ripple’s XRP token, currently the third-largest cryptocurrency in the world by market cap, climbed to $ 0.90 today, only to fall rapidly by 30%.

This was apparently motivated by Coinbase users as the price of XRP has not reached the same levels on other exchanges. Bitfinex, Bitstamp, and Kraken, for example, recorded numbers as low as $ 0.80 during the same period.

In light of this, some believe the market has reached a stage in the bull run where prices are starting to diverge on different exchanges – a phenomenon that can often be attributed to liquidity issues.

Shortly after the peak and the mini-crash that followed, “Coinbase” started trending on Twitter in the United States. As in the past, the surge in activity appears to have crushed Coinbase’s website.

This is not without precedent and seems to have happened again despite CEO Brian Armstrong’s statements about the preparation. “We are working hard to add additional capacity (both at the server and customer support level) to cope with the increased traffic,” he tweeted on November 18.

Target previous summits

As previously reported by BeInCrypto, XRP had a historically good week, climbing 100% in seven days, including a 40% increase from $ 0.32 to $ 0.45 in just 24 hours between November 21 and 22. .

According to Forbes , the latest rally was primarily driven by the news that the company behind XRP, Ripple, which owns around 60% of the tokens, said it was looking to capitalize on a central bank rush to digitize its currencies. .

Despite its current rise, XRP is still down around 80% from its 2018 high.

Analista de Bitcoin vê ‚cenário perfeito‘ para $ 100K neste ciclo de alta, $ 1M em 2035

O Bitcoin pode ultrapassar seus máximos de $ 20.000 em semanas, diz Alex Saunders, enquanto o Ether só precisa de um ano para bater seu próprio recorde.

Bitcoin ( BTC ) pode atingir US $ 100.000 em cinco anos e US $ 1 milhão em 2035, disse o CEO da Nugget’s News, Alex Saunders, à Cointelegraph.

Falando em uma entrevista com o analista da Cointelegraph Markets Michaël van de Poppe em 18 de novembro, Saunders descreveu as condições atuais como um “cenário perfeito” para novos máximos.

Saunders: preço Bitcoin de $ 1M em 2035

“Ou vai continuar nas próximas semanas e chegar a $ 20.000 muito rapidamente, ou vai ter um pouco de variação agora e então, esperançosamente, positivo no próximo ano”, disse ele.

Saunders falava enquanto o BTC / USD saiu de altas recentes de $ 18.400 para se mover em um corredor amplo, que se concentrou em $ 17.700. Os ganhos têm sido rápidos, com o desempenho semanal sozinho proporcionando retornos de até 15%.

Olhando para o futuro, Saunders acreditava que seis ou sete dígitos para o Bitcoin estavam um pouco distantes, mas que uma combinação de dinheiro e adoção significava que agora „não havia saída“.

“Sinceramente, acho que o Bitcoin atingirá US $ 100.000 nos próximos cinco anos, e então se tornará ‚Bem, eles realmente tentam desligá-lo ou como o regulam e comercializam?’”, Disse ele a Van de Poppe.

“E se for permitido apenas continuar com sua missão e absorver todo o dinheiro de todo o mundo e se tornar uma moeda de reserva global … Acho que podemos chegar a US $ 1 milhão por moeda nos próximos, seja lá o que for, 15 anos.”

As estimativas parecem um tanto conservadoras em comparação com algumas previsões de preços existentes, entre elas, a popular série baseada em estoque para fluxo, que prevê pelo menos US $ 100.000 no próximo ano.

As preocupações de Saunders sobre a legalidade no caso de grandes aumentos de preços ecoam as do grande investidor Ray Dalio, cujos comentários sobre o Bitcoin lhe renderam publicidade significativa esta semana.

A vez do Ether para ganhos transformadores?

Em termos do maior altcoin Ether ( ETH ), entretanto, o prognóstico é ainda melhor. Saunders considera que há uma forte possibilidade de que os novos máximos de todos os tempos para ETH / USD demorem um ano ou menos.

Desempenho de Bitcoin e Ether YTD. Fonte: Cointelegraph Markets / Digital Assets Data
Dado o desempenho atual, isso exigiria quase 200% de aumento dos níveis de tempo de impressão de $ 470.

Ether, como a maioria das altcoins, não conseguiu copiar os avanços recentes do Bitcoin, apesar do lançamento do tão esperado Ethereum 2.0 e do roadmap associado, que transformará a rede.

Bitcoin Cash: more than 1 million BCH arrive at exchanges before the hard fork

Bitcoin Cash (BCH) deposits on exchanges have increased over the past week.

A potential chain split (or fork) on November 15 appears to be driving deposit growth.

Price data suggests that many depositors are selling their coins.

Bitcoin Cash is coming in large numbers to cryptocurrency exchanges. Over a million BCH coins have landed on the trading platforms in the last seven days alone.

A hard fork, scheduled for November 15, threatens to divide the Bitcoin Cash network . The two opposing factions include those who wish to see a development fund implemented as part of the miners rewards and those who do not.

Bitcoin Cash accumulates in crypto exchanges

BCH holders have sent an average of more than 154,000 coins per day to exchanges over the past week. Chainalysis data , brought to BeInCrypto’s attention by the company’s chief economist, Philip Gradwell, shows a sudden surge in deposits.

Over a million Bitcoin Cash was sent to exchanges in the last seven days leading up to the Hard Fork on November 15, pushing the price of BCH down further against BTC.

As Gradwell suggests, the deposits appear to be pushed by the hard fork, or split, earlier this month. Many companies and industry watchers expect a division of the chain that will create two implementations.

The two potential versions are called Bitcoin Cash ABC and Bitcoin Cash Node. The first includes the proposed change to the mining reward.

Carriers sell before the fork?

The title of the chart in the tweet above indicates that Bitcoin Cash investors are selling their positions ahead of the hard fork. Indeed, the decline in asset prices seems to have accelerated during this recent period of increased deposits.

Measured in bitcoin (BTC), the price of BCH has followed a general downward trend since the end of October. The sixth most popular digital currency by market cap is now trading at around 0.0165 BTC, up from 0.019 BTC on October 31.

BitFlyer s’apprête à mettre en place un système de frais de négociation réduits pour le crypto

Avec le marché de la cryptographie qui s’annonce haussier jusqu’en 2020, bitFlyer est sur le point d’adopter un nouveau régime de frais de négociation réduits pour les cryptocurrences.

La plateforme d’échange de cryptographie bitFlyer est sur le point d’introduire une nouvelle structure de frais de négociation pour les utilisateurs, qui place la société comme ayant les frais de négociation les moins élevés aux États-Unis. L’intérêt des particuliers et des institutions pour les cryptocurrences étant très élevé, bitFlyer pourrait bien s’approprier un pourcentage encore plus important du marché.

L’intérêt croissant pour le commerce des cryptocurrences s’accompagne de la recherche de plateformes boursières réglementées. Les régulateurs gouvernementaux de différents pays sont plus attentifs au respect des meilleures pratiques de la part des services de négociation cryptographique au comptant et sur dérivés.

bitFlyer récompense les gros volumes de transactions avec des frais réduits

Selon un communiqué de presse partagé avec Blockonomi, bitFlyer apporte des modifications importantes à la structure des frais de cryptage sur sa plateforme Lightning. Selon les détails de l’annonce, les frais pour les volumes inférieurs à 50 000 $ seront désormais de 0,1 %, tandis que pour les volumes supérieurs à 500 millions de dollars, ils seront de 0,03 %.

Au total, la bourse introduit huit niveaux de crypto trading basés sur le volume. Les utilisateurs seront affectés à l’une des catégories de frais en fonction de leur volume de négociation précédent sur 30 jours

Ce nouveau régime de frais de négociation place fermement bitFlyer comme la bourse de crypto réglementée ayant les frais les plus bas aux États-Unis. Commentant l’évolution vers une structure de négociation de crypto plus réduite, Joel Edgerton, directeur de l’exploitation de bitFlyer et chef de la division américaine de la plateforme, a fait remarquer :

Chez bitFlyer USA, nous cherchons toujours à apporter plus de valeur ajoutée à nos clients, et le moyen le plus simple d’y parvenir est de réduire les frais. Nous n’avons pas d’exigences compliquées, ce qui permet aux clients de se concentrer simplement sur leurs stratégies commerciales. Notre objectif est depuis longtemps d’accroître l’adoption de la cryptographie en faisant de Bitcoin Circuit l’alternative rentable et sûre pour les traders américains de détail et institutionnels.

Selon le communiqué de presse, le nouveau régime de frais de négociation entrera en vigueur le 4 novembre. Les utilisateurs devront d’ici là s’accommoder des nouveaux changements. Les traders peuvent également se référer à la page FAQ de la plateforme pour glaner d’autres informations pertinentes sur les frais de crypto trading.

La réduction des frais de transaction pourrait entraîner une augmentation de la fréquentation de bitFlyer par les particuliers et les institutions. En octobre 2019, la communauté de la cryptographie a réagi négativement à l’augmentation des frais de crypto trading de Coinbase pour les utilisateurs de détail. Selon bitFlyer, le plan de frais de négociation contribuera également à améliorer la liquidité et la profondeur des ordres, permettant une expérience de négociation plus fluide pour ses utilisateurs.

Alors que Bitcoin (BTC) devrait terminer l’année sur une note haussière, les bourses se positionnent pour attirer les nouveaux et les vétérans de la cryptographie. Bien qu’elle n’ait pas réussi à briser une résistance pluriannuelle à plus de 13 800 dollars, le consensus est que la BTC est en passe de fixer un nouveau sommet pour 2020 au-dessus du niveau de prix de 14 000 dollars.

Decoded Law: Government Test Environments, Test Benches and Cryptomechanism Commitments, October 16-23

This week’s news highlighted how governments are testing new regimes for cryptomonies, which may be slow, but are certainly some progress.

One line from the immortal Calvin & Hobbes comic strip says „a good compromise makes everyone crazy“. When it comes to laws governing cryptomonies, the authorities usually ask for pretty big compromises because, in their best intentions, they are trying to solve things. While it is a rapidly developing area of law, honestly, it is a pleasure to cover it, that means it is developing rapidly in relation to law, not technology.

There is an innate conservatism in everything that has to do with the way people manage their money. That extends to the laws that govern how money and investments work. As a result, everything that regulators touch on cryptosystems develops more slowly than the industry would necessarily like.

However, it is not an unreasonable instinct for regulators to be determined to establish controlled ecosystems and test environments for all developments before releasing them into the wild. But restricting the technological capabilities of cryptosystems requires some compromises. This week’s top news stories have seen that dynamic around the world, as it all comes down to a test case.

PayPal’s crypto payments test New York’s conditional BitLicense and vice versa

After months of rumors, PayPal formally announced that the platform would incorporate crypto payments.

While Bitcoin Millionaire price jumped with the news, there is a catch. PayPal’s crypto currency will be blocked on the platform. No tokens in or out, a real Alcatraz. PayPal, meanwhile, will operate on a probationary basis.

PayPal’s crypto platform received the tentative green light from the New York City Department of Financial Services, possibly the world’s largest sub-national financial regulator and the issuer of the famous BitLicense. But in this case that license is conditional. Just as PayPal is testing crypts in an extremely limited capacity, the DFS is testing its new format to test companies seeking to obtain that coveted license.

A fascinating by-product of this new system is that it links companies seeking to enter New York cryptology with existing BitLicensees, in the case of PayPal, Paxos. This establishes a dynamic whereby established crypto-currency companies will act as mentors to companies that, like PayPal, may be much more important in all other areas of their business. This is great for the industry and puts any existing BitLicensee in a very advantageous position as more conventional firms follow the PayPal path.

The Bahamian Sand Dollar goes live

In what has become a global race for a central bank digital currency (CBDC), the Bahamas appears to have won. The island’s „Sand Dollar“ was launched across the country earlier this week.

Pilot programmes involving functional Sand Dollar wallets are running for months. But as with many things related to the Bahamian system, the central bank’s announcement was rather opaque, consisting of a Facebook post of only two sentences. The apparent restriction to national use is interesting. The country’s limited financial reporting standards have made it a popular place for shell companies and money relocation. The limited scope is possibly an attempt to no longer contribute to this reputation.

The announcement came at a time when US and Russian government officials made statements denying the need to be the first to publish a CBDC. And indeed, with due fear of being a patronising American, responsibility for the Bahamian dollar is not the same as responsibility for the US dollar. However, given its huge role in international finance, the Bahamas faces many of the same concerns as larger economies that are developing their own CBDCs. The central bankers of such economies will certainly be closely monitoring the sand dollar.

Mixers, beware

The US anti-money laundering watchdog, FinCEN, fined Larry Dean Harmon USD 60 million for operating the Helix and Coin Ninja blending services.

This is the first time FinCEN has taken action against a mixer or tumbler, services that combine and disperse crypto currencies across extensive wallet nexus to enhance privacy by hiding their transaction history. As you can imagine, this is often because the coins have been involved in illegal activities.

While FinCEN has long maintained that cryptomint companies must maintain the same type of customer records as banks, in reality, targeting a blending operator increases the stakes considerably. There is really no conceivable way for the mixer business model to incorporate the types of AML information that FinCEN requires. Even if you do not assume that the currencies involved have been caught up in some business that falls somewhere on the spectrum from grim to horrific, the function of a mixer is to strip the currencies of any features that may be linked to their owner.

To be fair, Harmon is a very easy target. An Ohio resident has been facing criminal charges for his mixers since February. As a result, FinCEN had access to repositories of information about Harmon’s blenders that the Department of Justice investigation had already unearthed. Not to mention that FinCEN obviously knew where to find him.

Despite the convenience of the action, this is obviously discordant news, especially for anyone running a privacy enhancing cryptomoney service, but generally for anyone who thinks that perhaps not all transactions should be packaged with personal information.

Further reading

The Electronic Frontier Foundation welcomes Coinbase’s new reports on its interactions with government and its compliance initiatives.

Lawyers at Vinson & Elkins review the DOJ’s framework for the application of crypto currency published earlier this month.

In her podcast Unchained, Laura Shin delves into the DOJ’s methods for tracking crypto criminals.

The government is frustrating because when it works properly no one gets exactly what they want. Balancing priorities, managing risk, improving compliance: writing about the law involves traversing such noxious slang swamps in search of some grove of what people are really saying. This is usually a compromise.

Why was Bitcoin’s price virtually unaffected by Kucoin’s hacking or the legal actions against BitMEX?

Bitcoin may have solidified a base price thanks to the purchases of the big players in conventional finance.

BitMEX recently faced a major legal action in the U.S., and KuCoin was heavily hacked, all of which occurred in a span of just days, but why didn’t these events negatively affect Bitcoin’s price? Aleks Svetski, CEO of Amber, a Bitcoin Profit investment application, said this has to do with several factors, including the big players that buy Bitcoin (BTC).

October 14 price analysis: BTC, ETH, XRP, BCH, BNB, LINK, DOT, ADA, LTC, BSV

„The price of Bitcoin is a function of global demand against a tight and immutable supply and a declining schedule,“ he told Cointelegraph, referring to the supply of coins from the asset and the halving of mining rewards.

„As more people, especially large-scale organizations seek to acquire some, it will not only create a floor price, but will continue to increase the upward pressure on the price,“ he explained, „and eventually all these new players have their Bitcoins off the exchanges, and therefore are not available for sale in the market.

New Peruvian business project „Tiyapuy“ will distribute food with Blockchain certification

Throughout this year, a number of major players in conventional finance have made major purchases of Bitcoin, including MicroStrategy, Paul Tudor Jones, and Square.

In contrast to the bullish action, the crypto-currency exchange, KuCoin, was hacked to the tune of over US$100 million stolen. Several days later, US government authorities attacked the important derivatives exchange, BitMEX, with legal actions, arresting one of its leaders.

The OECD is preparing a model for monitoring Bitcoin that could be used worldwide

However, none of these events caused Bitcoin to fall into a downward trend. Bitcoin didn’t fall significantly after the KuCoin news, and only suffered a small drop after the BitMEX news was released, a relatively small reaction to such important news. On the contrary, after a price sideways action over several days, the asset began its upward journey away from its consolidation levels. Svetski added:

„This is preparing an extraordinary run and no exchange hacking, stimulus delay or state policy will be able to stop it“.