Showing posts with label trending. Show all posts
Showing posts with label trending. Show all posts

US Senator Says She's HODLing Bitcoin, Says Reckless Gov Spending Is Bringing People To Crypto...

US Senator Cynthia Lummis

US Senator Cynthia Lummis wants the dollar to remain a world reserve currency, but believes that bitcoin (BTC) is playing a positive role as a store of value asset.  The 66 year old Senator from Wyoming is actually HODLing for retirement, saying:

"I own #bitcoin because it’s a great store of value. I save it, so when I retire, I know it’s there.

Lummis also says the US government is actually promoting bitcoin - by accident.  Citing how big spending, and printing money leads to inflation, and it's that fear of that inflation acts as a promotion for Bitcoin.

"Big gov spenders are (accidentally) doing far more to accelerate the adoption of digital assets than I am. The debasement of our currency is causing a flight to digital assets like bitcoin that are a store of value." she tweeted.

Says Bitcoin has performed well as 'store of value'...

Lummis said that she believes in bitcoin as a store of value asset, offering protection against fiat cash inflation. For this reason any laws passed in the US regarding crypto should continue to allow people access to digital currencies.

Regulations should also be clear and offer 'solid definitions' since a major criticism is that regulators have been inconsistent and unpredictable with their enforcement so far.

Miners Welcome...

Senator Lummis also invited miners recently shut down in China to relocate to the United States, specifically places like Pennsylvania, Texas, Wyoming, and elsewhere.

Author: Fernando Perez
Latin America Newsdesk

The Data PROVES It: The Wealthy Are BUYING UP BITCOINS, As Amateur Investors Continue To Sell In Fear...

Bitcoin whales buying

The Whales, bitcoin holders who manage between 1,000 and 10,000 Bitcoins, who had sold when the price had topped $30,000, have changed their strategy and are now accumulating.

The report from Ecoinometrics compared the activity of seven holder segments over the period of November 2020, starting from those with less than 1 BTC to whales: addresses with less than 1 BTC, 1 to 10 BTC, 10 to 100 BTC, 100 to 1,000 BTC, and 1,000 BTC to 10,000 BTC.

Ecoinometrics says the post-halving bull market really began in October when the price started to take off from the $10,000 price zone. 

bitcoin trends
The More Bitcoin They Own, The Less They're Selling...

The document highlights a noticeable difference in the behavior of the BTC in the hands of the so-called fish (with a value of less than 1 BTC) and whales. According to the graph, the group with addresses between 100 BTC and 1,000 BTC has acquired bitcoin with the greatest resolve, especially during the period when the price rose from $30,000 to $60,000. 

Top Traders Believe Another Bitcoin Rally Is Around The Corner...

In February, the BTC of whales' addresses began to recede, most likely as a result of profit-taking, but after the price of Bitcoin returned to $30,000, a resumption of accumulation in this segment of large holders has been noted, according to the report.

 The study found that profit-taking has already ended in the five groups studied, but the picture has changed since BTC's price stabilized in the $30,000 range. 

Whales and small fish have rebounded in value, while other groups have become neutral. As suggested in the study, these first signs of a rebound in value could lead to a return to BTC's increased price growth. 

In Glassnode's most recent Bitcoin market report, it is estimated that exchanges send 2,000 BTC per day as net outgoings (being taken off exchanges), which is backed up by on-chain data. This finding is in line with the Ecoinometrics study.

Coins being removed from exchanges and in to private cold storage/secure wallets is a sign of someone confident they won't be selling anytime soon.  There never has been more Bitcoin off exchanges than there is now. 

Author: Fernando Perez
Latin America Newsdesk

It's FINALLY Confirmed: When Ethereum's Highly Anticipated Upgrade Will Go LIVE...

Ethereum 2.0 London Update Date

Ethereum developers have informed us that the test run, which has been running on the Ropsten testnet for the last 3 weeks, is officially being called 'a success'.

Known as the 'London' update - this is considered by many as the most important update to Ethereum since it's creation.

Important For One HUGE Reason - This Should Solve The Problem Of High Fees...

'London' is actually a package of five different updates (AKA EIPs - Ethereum Improvement Proposals) among them is EIP 1559 which  changes the way commissions are paid on the network, where each transaction will pay a base commission (a part of this fee will be burned) and the tip figure for miners is established.

Miners aren't so excited, they claim that their income could be reduced - but their crying is music to the ears of any user who has been paying absurd fees for months.  The miners had a run of inflated fees they should never have expected, and while I'm sure it was a great time to be an ETH miner, it obviously was something that wouldn't and couldn't last forever. 

Better Late Than Never...

This has taken way too long. I say this as someone who could easily do 20 transactions on the Ethereum blockchain on a normal week, between trading and dApps - so I'm not some 'hater' spreading FUD, or shilling for some competing blockchain. 

I've shared my frustrations on how long this was taking in a previous report, and it was doing research for that report when I realized the reason I felt like I had been waiting for so long, is that I actually was.

I looked back to when rising fees first became a concern, and found posts made in 2018 where Ethereum developers were discussing the problem of high fees - which at the time was $0.74 cents, a price we'd celebrate today. 

But back then, that $0.74 cents was worthy of an urgent response "As the number of transactions on Ethereum keeps going up and up, we have no time to lose" said one developer.  

If there was 'no time to lose' in 2018, there's no way around it - you're pathetically slow if you don't deliver until 2021. 

So - When Is It Happening?

The London update will go live along with block 12,965,000 being processed - we're on block 12,833,326 right now. 

Assuming Ethereum transactions maintain their current average - we're looking at Thursday Aug 5th, around 2:00am Los Angeles time.  But it's probably best to just think anytime between Aug 2nd and Aug 7th.

Author: Ross Davis 
E-Mail: Twitter:@RossFM
San Francisco Newsroom / Breaking Crypto News


Crypto airdrop

For those unfamiliar, 'Binance Smart Chain' (BSC) functions just like Ethereum - except it's FAST and transactions are CHEAP!

Because fees no longer cost more than the value of the coins being given away - airdrops make sense again! 

Even better, we've kept this list all BSC self-drops!

What is a self-drop? Unlike airdrops where you need to perform a list of tasks to earn a coin, with a selfdrop just visit the site, and look for a button typically labeled something like 'Claim Airdrop' or 'Claim Tokens' then you should see the transfer start in Metamask.

 If you haven't added the Binance Smart Chain to Metamask yet, instructions are here.
(Note: All you need to setup is the 'mainnet' no need to waste time adding testnet which is only for people learning and developers - no airdrops will work if testnet is selected.)