Saturday, February 16Your Daily Bitcoin & Altcoin News Portal

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A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin

A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin

BITCOIN, CURRENT EVENTS, EDUCATION, FINANCE
Please share if you find this article interesting. A New Twist On Lightning Tech Could Be Coming Soon to Bitcoin Bitcoin's lightning network may be just starting to send transactions over the blockchain, but already its developers are looking to rearchitect the technology. That's because, while touted as a way to significantly boost bitcoin's capacity, the network itself does require users to store a significant amount of data, which makes it difficult to download and run. As such, several lightning developers – Lightning Labs co-founder 'Laolu' Osuntokun and Blockstream's Christian Decker and Rusty Russell – have published a new proposal which imagines an alternative, "simplified" way of making off-chain transactions called eltoo. But the new proposal isn't only about condensing
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Amid Chaos, Our Decentralized Future Is Being Built

Amid Chaos, Our Decentralized Future Is Being Built

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Please share if you find this article interesting. Amid Chaos, Our Decentralized Future Is Being Built Michael J. Casey is the chairman of CoinDesk's advisory board and a senior advisor of blockchain research at MIT's Digital Currency Initiative. The following article originally appeared in Consensus Magazine, distributed to attendees of Consensus 2018. If, during CoinDesk's Consensus conference in May 2017, I'd predicted the crypto and blockchain industry's subsequent experiences, you wouldn't have believed me. Back then, CoinDesk's Bitcoin Price Index (BPI) was around $2,400. Six months later, it passed through $10,000 – right when 1,300 investors and financial professionals attended the inaugural Consensus: Invest conference. But that was only a way station to $19,783, an al
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Bitcoin Bears Still in Charge But Indecision Could Open Doors for Rally

Bitcoin Bears Still in Charge But Indecision Could Open Doors for Rally

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Please share if you find this article interesting. Bitcoin Bears Still in Charge But Indecision Could Open Doors for Rally While the odds are still stacked in favor of bitcoin's bears, a level of indecision looks to be creeping in, according to the technical charts. The cryptocurrency fell to a 6.5-week low of $7,142 on Bitfinex earlier today, having breached the 50-week moving average (MA) support for the first time since 2015. Amid the continued drop in prices, though, the charts show a doji candle formed yesterday, indicating that the bears may be running out of steam and a short-term rally could be on the cards. As of writing, BTC is changing hands at $7,210 – down 16.58 percent from the last Monday's high of $8,644. 4-hour chart The pennant breakdown, a bearish continuatio
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Just One Crypto Bucked the Market Downtrend This Week

Just One Crypto Bucked the Market Downtrend This Week

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Please share if you find this article interesting. Just One Crypto Bucked the Market Downtrend This Week Shadowing the losses in bitcoin, the top-25 cryptocurrencies have all fallen over the last seven days – all bar one, that is. The broader markets seem to have been dragged lower by a 9.5 percent week-on-week drop in bitcoin (BTC), the world's largest cryptocurrency by market cap. BTC fell below $8,000 on May 22 for the first time since April 18 and hit a low of $7,272 yesterday, as per CoinDesk's Bitcoin Price Index (BPI). Other major names like ethereum (ETH) and bitcoin cash (BCH) are reporting 14 percent weekly declines in price. EOS, meanwhile, is down 6 percent and XRP has shed 8.5 percent over the same period. The sole top-25 cryptocurrency to be up this week is TRON (TR
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Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years

Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years

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Please share if you find this article interesting. Bitcoin Faces First Close Below This Key Long-Term Support in 2.5 Years Bitcoin risks closing below the 50-week moving average (MA) – an important long-term support not breached for over 2.5 years. With the bears already on the offensive following the recent sell-off, prices are likely to suffer if bitcoin closes on Sunday below the key support, currently seen at $7,611. More worryingly for the bulls, since the cryptocurrency has not traded below the 50-week MA since October 2015, acceptance below that level would only add credence to the argument that the long-term bull run has ended. Weekly chart (2015–2018) As seen on the chart above, the long-term moving average had acted as a strong support in the first quarter. BTC found
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Pink Taxis, Red Flags: A Deep Dive Into a Sketchy ICO

Pink Taxis, Red Flags: A Deep Dive Into a Sketchy ICO

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Please share if you find this article interesting. Pink Taxis, Red Flags: A Deep Dive Into a Sketchy ICO It's no secret "buyer beware" has become a mantra in the world of ICOs, where blockchain startups are raising millions, sometimes with just a white paper, a bright idea and a few lines of code. Indeed, The Wall Street Journal recently found that 271 of 1,450 ICOs it analyzed displayed "red flags that include plagiarized investor documents, promises of guaranteed returns and missing or fake executive teams." Still, with regular Joes turning into crypto millionaires, however infrequently, they're enticing bets for investors. Expanding on the WSJ's analysis, CoinDesk wanted to make it clear what kind of approaches fraudulent ICOs take, and there may be no better poster-child than
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Bitcoin Faces Drop to $7K as Bull Defense Crumbles

Bitcoin Faces Drop to $7K as Bull Defense Crumbles

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Please share if you find this article interesting. Bitcoin Faces Drop to $7K as Bull Defense Crumbles Bitcoin (BTC) is trading on the defensive today, having dropped 16 percent over the last three days. As of writing, BTC is changing hands at $7,270 on Bitfinex, down 6.5 percent in the last 24 hours, and could extend the slide further to $7,000 in the next 24 hours. The cryptocurrency closed (as per UTC) at $7,494 yesterday - its lowest daily close since April 12 - and looked oversold as per the relative strength index (RSI) in the hourly and 4-hour chart. A resulting corrective rally ran info offers above $7,700 earlier today and prices fell to a 6-week low of $7,352 at 08:30 UTC. The failure on the part of the bulls to produce a notable corrective rally despite oversold conditi...
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Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014

Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014

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Please share if you find this article interesting. Bitcoin Closing on Long-Term Bear Indicator Not Seen Since 2014 Following bitcoin's recent losses, a key long-term trend indicator is looking increasingly bearish. Notably, the five-month moving average (MA) has rolled over in favor of the bears and looks set to cut the 10-month MA from above - a bearish crossover that hasn't been seen since June 2014. If that occurs it could be a worrying signal for the long-term price outlook. Back then, following an identical crossover in June 2014, the cryptocurrency subsequently dropped by 70 percent (from $580 to $166) in the seven months leading up to January 2015. This time around, the bearish crossover will likely occur at the turn of the month, if bitcoin extends the current decline tow...
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Bitcoin Price Falls to 35-Day Low Below $8K

Bitcoin Price Falls to 35-Day Low Below $8K

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Please share if you find this article interesting. Bitcoin Price Falls to 35-Day Low Below $8K Bitcoin's price has slipped below $8,000 to hit a 35-day low. Just an hour after the May 23 trading session began, data from CoinDesk's Bitcoin Price Index shows the price of the world's largest cryptocurrency started to fall, dropping to its lowest point since April 18. After steadily climbing up to nearly $10,000 on May 6, bitcoin's price has been on a gradual decline since then towards a current low at $7,876, reflecting a 20 percent drop over the past two weeks. The price has bounced back slightly to $7,910 as of press time. That said, the current price still shows a 30 percent premium over bitcoin's lowest point this year at $5,947 seen on Feb. 5. Meanwhile, bitcoin's price drop ...
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He Paid How Much? CoinDesk Releases ‘Bitcoin Pizza Day’ Price Tracker

He Paid How Much? CoinDesk Releases ‘Bitcoin Pizza Day’ Price Tracker

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Please share if you find this article interesting. He Paid How Much? CoinDesk Releases 'Bitcoin Pizza Day' Price Tracker Eight years ago today, the first reported exchange of bitcoin for a consumer product - a pair of Papa John's pizzas - took place. At a total cost of 10,000 bitcoins, it was a milestone for the adoption of cryptocurrency and one that has since been commemorated though the celebration of May 22 as "Bitcoin Pizza Day." Yet even the most cursory observation of Bitcoin Pizza Day isn't complete without a calculation of precisely how much, in dollar terms, those two pizzas cost. With that, CoinDesk is today releasing a new widget that provides a real-time calculation that you can add to any website. As of press time, that's about $83.7 million for the two pies, or j...