Kvě 27

Bitcoin Plummets $600 Following Volatile Thursday Trading

· May 27, 2017 · 5:51 pm

Bitcoin’s price suffered more losses on Friday following Thursday’s drop and subsequent rebound, plummeting 25% in a single day.


While it appeared that Bitcoin had regained its historic upward momentum following Thursday’s $500 drop, Friday proved even more turbulent as prices dived $600 from $2.5k towards $1.9k. As of Saturday afternoon, Bitcoin’s price appears to have stabilized around $2.1k.

Bitcoin price chart

What Goes Up, Must Come Down

Bitcoin’s price drop follows a week of unprecedented growth, in which it climbed from $2000 to an all-time high of $2800. Many claimed that a correction was overdue and that Bitcoin is back on its way towards $3,000.

Others have issued dire warnings of a Bitcoin bubble that may just now be popping. Older investors can still recall the sting of Bitcoin’s infamous 2013 crash (and subsequent destruction of the Mt. Gox exchange), and are wary of repeating the same mistakes. Bitcoin’s price also has a repeatable history of spiking suddenly before crashing to a higher, more stable level.

Friday, Bloody Friday

Traders have historically used Fridays to sell off securities or place shorts, anticipating a price drop come Monday morning due to what has been called the “weekend effect“. The upcoming long weekend combined with Thursday’s high volatility likely fueled a large sell-off in the cryptocurrency market. Bitcoin’s influx of new investors following its price increases may have also spurred a panic sell.

You Bought the Ticket, Now Ride the Coaster

Experienced traders have continuously warned new investors about Bitcoin’s notorious volatility. In a Reddit thread chastising those who bought at the top on FOMO (“fear of missing out”), one Reddit user had some choice words to share:

Now here’s the question: did you buy Bitcoin just because it was worth a certain amount of dollars, or did you buy it to hold a piece of the action? This is a piece of the action. Roller coaster to the moon has its ups and downs.” – zomgitsduke

Another thread was created by a user claiming to have dumped $45k into BTC at its top. He intends to exercise discipline and hold:

“Genuinely don’t give a s— that the price has corrected/crashed/whatever you want to call it. It’ll be back sooner or later. Bitcoin is long term. Don’t weep.” – thesilentwitness

Bitcoin To The Moon

Despite these recent setbacks, many are still confident that Bitcoin’s run isn’t over yet. The market appears to remain Bullish as traders look to buy in on the massive price dip.

Do you think Bitcoin is headed back up? Or do you think that the Bitcoin bubble has finally burst? Tell us in the comments below!


Images courtesy of WorldCoinIndex, Shutterstock

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Úno 16

Bitcoinist: An Update on Our Recent Big Changes

· February 16, 2017 · 9:00 am

Bitcoinist has become the fastest growing website according to Alexa Rankings in recent months due to major changes across the board as we look to a bright future ahead.


Bitcoinist: New Team, New Look

Bitcoinist was founded in 2014. But if you haven’t noticed already, our domain has changed from .net to .com this past December. This was accompanied by a major overhaul of the website design as well. We do hope you like the design, which we believe is easier on the eyes and a lot cleaner than before.

bitcoinist_ly

(Feel free to write us if you have any suggestions to improve.)

What’s more is that the entire staff has been replaced by new management, a new team of editors and experienced writers. These changes have been reflected in our new editorial policy, which you can read here.

News With Useful Features, Powerful Tools

While some of our previous website pages remain, many new features have been added as well. These include a brand new gambling page with reviews of various online Bitcoin casinos and cryptocurrency betting sites.

The new Buy Bitcoin page enables our users to acquire bitcoin with a debit or credit card in over 200 countries. Since we believe privacy is an integral part of Bitcoin, we chose to work with the online bitcoin-buying service Indacoin, which doesn’t store any customer data for this very reason.

Another new feature that we’re excited about is our realtime price ticker – the only one in the news space that displays realtime prices of not one, but three of our favorite cryptocurrencies, namely Bitcoin, Ethereum and Dash. We’re also planning to launch a full altcoin price page in a few weeks, so stay tuned! 

tickerMeanwhile, some of the most useful features have remained, such as our Knowledge Base, which is a great place to start for anyone who’s new to Bitcoin.

We’re Growing, Adding Advertisers & Hiring

We’re always looking for talented writers so the Jobs section is still available for those looking to put their creativity to the test and earn bitcoin in the process. In fact, this is undoubtedly the best way to learn (and earn) Bitcoin and cryptocurrency!

Overall, these improvements have already boosted our readership, social media followers, and website traffic. Additionally, our newsletter circulation has recently topped 6,000 subscribers.

Advertisers should note that we have been the fastest growing site in the cryptocurrency space according to Alexa Rankings in the past several months.

We’re still happy to offer Press Release publishing services and promote your conferences on our Events section. We already have a large number of conference media sponsorships booked for 2017 so don’t miss out! 

Additionally, the Bitcoinist front page can also accommodate your ICO countdown widgets for everybody to see.   

Finally, we welcome all potential investors to join us as we continue to grow along with Bitcoin.

For investment opportunities, please contact our Managing Director Norbert Radoki: norbert.radoki@bitcoinist.net


Images courtesy of Bitcoinist.com, Shutterstock 

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Kvě 11

Proposed Hard-Fork to Nullify ASICBoost Patent

Source: bitcoin

Proposed Hard-Fork to Nullify ASICBoost Patent

Bitcoin Core contributor, Peter Todd, announced that a hard-fork had been proposed to negate attempts to patent the ASICBoost method.

Also read: Kraken Launches ETH Dark Pool Trading

According to a message sent out by Peter, this proposed idea sprang from an agreement made at a Bitcoin-oriented round-table in February. The round-table was attended by a slew of representatives from the Bitcoin development and industry, and focused on a variety of different subjects.

The intent of this fork is to make ASIC boost optimisation useless, and ideally the change would be SPV compatible. However, according to Peter, if a change to SPV clients were needed, then that would also be acceptable. In addition, the change would also be compatible with existing mining hardware.

The Hard-Fork Resistance Against Patents

ASICBoost is a patent-pending method that will lower the total cost per bitcoin mined to approximately 20%. The patent has been a point of controversy because many in the Bitcoin community do not generally agree with patents. It is held that patents simply act to restrict competition on advancing a certain good by giving a legal monopoly on the provision of that good.

Patents thus slow down innovative processes, and would be especially detrimental to hardware and software industries. Software and hardware are always in state of change and the current life cycle of patents are simply unable to accommodate this change.

Additionally, some other points of agreement at the roundtable were the progression of SegWit as soft-fork and possible ways of improving it, running only Bitcoin Core-compatible consensus systems eventually containing both SegWit and the hard-fork, and committing to scaling technologies which use block space more efficiently.

The Hong Kong agreement was also signed by many leading figures in the Bitcoin community, including: Peter Todd, Valery Vavilov, Cory Fields, Johnson Lau, Luke Dashjr, and Matt Corallo among others.

What do you think of the proposed hard-fork, do you feel it will stifle innovation in Bitcoin? Let us know in the comments Below!


Source: Linuxfoundation.org

Images Courtesy of Elaineou.com and Prafises.com

The post Proposed Hard-Fork to Nullify ASICBoost Patent appeared first on Bitcoinist.net.

Proposed Hard-Fork to Nullify ASICBoost Patent

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