Bitcoin

Anonymous Crypto Wallet Moves $875M Worth Of Bitcoin


What happened: $875,708,664.00 worth of Bitcoin (CRYPTO: BTC) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person’s bitcoin wallet address has been identified as: bc1qrl3le9ckafye9fwdu485d26xx4uyhcrzly9q4p

$875 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: bc1qdthv4r0jwdlymre2gemg8jej0l3tk30szaluwp

Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.

Since this transaction wasn’t sent to an exchange, it’s unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.

You can view more details about the transaction here.

According to Glassnode, there are 494,744.00 Bitcoin wallets with over $100,000 in BTC.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Bitcoin is down -1% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.





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‘NFT’ Chosen as 2021’s Collins English Dictionary ‘Word of the Year’ – Bitcoin News


As 2021 nears its end, the firm Harpercollins, the publisher behind the printed and online Collins English Dictionary, has revealed “The Collins Word of the Year.” According to collinsdictionary.com, the word of the year is the abbreviation for non-fungible token, otherwise known as “NFT.”

Collins English Dictionary Word of the Year Is NFT

Non-fungible token (NFT) collectibles have obtained a nod from the publishing team behind the Collins English Dictionary. The unabridged Collins English Dictionary is published by the company Harpercollins and was the first dictionary that was typeset using a computer database’s output.

'NFT' Chosen as 2021's Collins English Dictionary 'Word of the Year'

On an annual basis, Collins likes to give a specific term the Word of the Year award, and this year the word “NFT” is the grand champion. “‘NFT’, the abbreviation of ‘non-fungible token’, the unique digital identifier that records ownership of a digital asset which has entered the mainstream and seen millions spent on the most sought-after images and videos,” the dictionary firm’s word of the year blog post explains. The post further adds:

It is one of three tech-based words to make Collins’ longer list of ten words of the year, which includes seven words brand new to Collinsdictionary.com.

The Informal Noun ‘Crypto’ and the Proposed Three-Dimensional Virtual Environment the ‘Metaverse’

Other words that were popular this year include words such as “metaverse” and “crypto.” The meaning of the word metaverse is “a proposed version of the internet comprising of three-dimensional virtual environments.” Collins English Dictionary says that the term “crypto” is an informal noun that is short for the word cryptocurrency, “a digital currency used for online purchases.”

'NFT' Chosen as 2021's Collins English Dictionary 'Word of the Year'

Interestingly, in May 2019, the Associated Press (AP) or guidelines from the AP Stylebook, said writers, journalists, and academics should “avoid using the shorthand crypto, which can be confused with cryptography.” The AP suggestion has been largely ignored by mainstream media and dedicated cryptocurrency news publications.

Collinsdictionary.com has been a lot more liberal with editorial submissions and added crowd-sourced neologisms in 2012. Collins also publishes an official Scrabble word list dictionary, and roughly 6,500 words are based on social media terms, slang, and the latest technology.

Tags in this story
AP, AP Stylebook, Associated Press (AP), Collins Dictionary, Collins English Dictionary, crowd-sourced neologisms, Crypto, Harpercollins, Metaverse, neologisms, nft, NFT definition, NFTs, Non-fungible Token, Publisher, Publishing, Scrabble, terms, Typeset, unabridged Collins Dictionary, words

What do you think about Collinsdictionary.com giving the term NFT the Word of the Year award? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Collinsdictionary.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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First Mover Asia: Bitcoin Rebound Continues Into Third Day Amid Lessening Omicron Fears


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Good morning. Here’s what’s happening this morning:

Market moves: Bitcoin led the crypto market to its third straight day of recovery from a “Black Friday” sell-off amid diminishing fears

Technician’s take: Short-term momentum is improving, although buyers will need to clear $60K to sustain the uptrend.

Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.

Prices

Bitcoin (BTC): $57,990

Ether (ETH): $4,445

Markets

S&P 500: $4,655 +1.3%

Dow Jones Industrial Average: $35,135 +0.6%

Nasdaq: $15,782 +1.8%

Gold: $1,782 -0.5%

Market moves

Bitcoin led the crypto market to its third straight day of gains, after a steep drop by more than 8% on “Black Friday.” The No. 1 cryptocurrency by market capitalization rose to nearly $59,000 on Monday before it sank toward the $58,000 level again.

But bitcoin’s trading volume was much lower compared with last Monday across major centralized exchanges. As discussed in Monday’s Asia First Mover, investors are waiting for the latest updates about the omicron coronavirus strain and its potential impact on the global markets, crypto included.

(CoinDesk/CryptoCompare)

One analyst, however, said investors in Asia, especially in China, are less affected by Omicron’s developments.

“During the past few days … it is not so [panicky] for Asia market,” Rachel Lin, CEO of DeFi derivatives platform SynFutures, said, pointing out that China’s major A-share market closed with few changes on Friday.

A report by Bloomberg says that China’s COVID-zero strategy may have helped its equity market from any potential hurt from the Omicron strain.

Technician’s take

Bitcoin Returns Above $58K as Momentum Improves

Bitcoin daily price chart (Damanick Dantes/CoinDesk, TradingView)

Bitcoin (BTC) is holding support above its 100-day moving average, currently around $54,200, as last week’s sell-off stabilizes.

The cryptocurrency was trading around $58,000 at press time and could face initial resistance at $60,000-$63,000.

Price momentum is starting to recover on the daily chart, which suggests buyers could remain active into the Asia trading day. Additionally, the relative strength index (RSI) on the daily chart is near oversold levels similar to what occurred in late September, which preceded a price rally.

For now, buyers will need to clear resistance in order to yield further upside targets. Longer-term indicators have shifted neutral as buyers failed to sustain an all-time high near $69,000 over the past month.

Important events

8 a.m. HKT/SGT (12 a.m. UTC): New Zealand business confidence (Nov.)

8:30 a.m. HKT/SGT (12:30 a.m. UTC): Australia building permits (Oct. MoM/YoY)

9 a.m. HKT/SGT (1 a.m. UTC): China manufacturing purchasing managers index (Nov.)

9 a.m. (HKT/SGT (1 a.m. UTC): China non-manufacturing purchasing managers index (Nov.)

CoinDesk TV

In case you missed it, here are the most recent episodes of “First Mover” on CoinDesk TV:

Bitcoin Rebounds to $58K Level, The Sandbox Raises $93M Led by SoftBank to Expand Its NFT Metaverse

“First Mover” hosts spoke with The Sandbox co-founder and Chief Operating Officer Sebastien Borget for an insider look into the metaverse gaming space as the firm launches Sandbox Metaverse Alpha. GlobalBlock CEO Rufus Round shared market insights as bitcoin rebounds from a steep selloff. Pat Duffy and Alex Wilson, co-founders of The Giving Block, shared how charities and nonprofits can use crypto for donations.

Latest headlines

Jack Dorsey Steps Down as CEO of Twitter

For Sale: $10M Yacht, DOGE Accepted

Binance Reports Resolving Issue With Its DOGE Wallet

Russians Conduct $5B Worth of Crypto Transactions a Year, Central Bank Says

Introducing Future of Money Week: Money innovation is everywhere and it’s getting wilder. (Editor’s note: See The Future of Money: 20 Predictions in Longer reads.)

Longer reads

How Crypto Becomes Money: A new theory for a universal digital barter system.

The Future of Money: 20 Predictions: With Sam Bankman-Fried, Beryl Li, Dovey Wan, Haseeb Qureshi, Hasu, Balaji Srinivasan, Jeff Dorman, Brett Scott, Laura Shin, and others.

Today’s crypto explainer: What Can You Buy with Bitcoin?



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Wyoming Aiming 5% Bitcoin Mining Hashrate



Wyoming is on a mission to house 5% of the U.S. Bitcoin mining hashrate by the next halvening in May 2024. This goes hand-in-hand with Wyoming’s strengths and aligns well with economic development and job creation goals.

For context, Wyoming has the lowest population density in the lower 48 U.S. states at six people per square mile (neighboring Colorado houses 56 people per square mile). Wyoming also has a difficult time retaining recent graduates because their ambitions for careers and salaries often don’t match what the rural Wyoming job market is currently offering, compared to major cities like Seattle and Denver.





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Bitcoin And Dark Matter – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides



Bitcoin & Dark Matter

The Center Cannot Hold: 14

Just as one cannot weigh light or sound, neither can one weigh Bitcoin. While there are several common material components to Bitcoin such as mining machines, hardware wallets, seed plates, and nodes, much of what Bitcoin is, is immaterial.

In physics, matter can be defined as anything that has mass and takes up space by having volume. Matter includes everything that is made of atoms or subatomic particles that act as if they have mass and volume. A photon is an elementary particle without mass, which is why it always travels at the speed of light in a vacuum. A photon is not considered matter. Matter does not include other energy phenomena such as light or sound.



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MicroStrategy Buys More Bitcoin – Crypto Briefing


Key Takeaways

  • MicroStrategy purchased 7,002 Bitcoin between Oct. 1 and Nov. 29.
  • The announcement coincides with a rebound in BTC price.
  • Still, the flagship cryptocurrency has many hurdles ahead to overcome.

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MicroStrategy continues adding more Bitcoin to its holdings after the pioneer cryptocurrency saw its price plummet from a record high of about $69,000 to as low as $54,000. 

MicroStrategy Increases Holdings

Michael Saylor’s MicroStrategy has added another 7,002 Bitcoin to its already substantial holdings.

In a regulatory filing, the Virginia-based data analytics firm disclosed it bought roughly 7,002 BTC at an average price of $59,187 per token between Oct. 1 and Nov. 29. MicroStrategy allocated approximately $414.4 million to its recent Bitcoin purchase. The funds were raised through the sale of 571,000 MSTR shares previously disclosed in June. 

To date, the company has acquired 121,044 Bitcoin at an average price of $29,534. MicroStrategy has spent $3.6 billion to grow its holdings, becoming the largest corporate holder of BTC in the world. 

The announcement comes at a crucial time as the pioneer cryptocurrency is down nearly 18% from an all-time high of about $69,000 set earlier this month. The downward price action has created a state of “fear” among market participants. 

Still, MicroStrategy could bring confidence into the crypto markets as it joins El Salvador and SkyBridge Capital in buying the dip. 

Bitcoin Finds Stable Support

From a technical perspective, it appears that Bitcoin found a strong foothold around the 200-twelve-hour moving average at $54,000 and the lower boundary of a parallel channel where prices have been contained since mid-June. Such a significant demand barrier alongside the formation of bullish divergence on the 12-hour chart might have helped BTC partially recover. 

As the pioneer cryptocurrency attempts to reclaim $57,000 as support, it must overcome a few hurdles to advance higher. Bitcoin would need to break through the 50-twelve-hour moving average at $60,000 to march towards $65,000. Only a 12-hour candlestick close above this resistance level can propel BTC towards a new all-time high at $75,000. 

It is worth noting that Bitcoin must hold above $54,000 to be able to validate the optimistic outlook. Any signs of weakness around such a critical support level could encourage traders to exit their long positions. If this were to happen, BTC could drop to $51,000 or even $47,000. 

Disclosure: At the time of writing, the author of this feature owned BTC and ETH.

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$858M In Bitcoin Was Just Transferred Between 2 Wallets


What happened: $858,788,585.00 worth of Bitcoin (CRYPTO: BTC) was just moved between 2 anonymous cryptocurrency wallets in a single transaction.

This mysterious person’s bitcoin wallet address has been identified as: bc1q5g49nqfg2vhvfx3emm9weazgd3c2pylu8ql4yx

$858 million worth of Bitcoin was sent to an unknown recipient, with Bitcoin wallet address: bc1qrl3le9ckafye9fwdu485d26xx4uyhcrzly9q4p

Why it matters: Cryptocurrency whales that own millions of dollars in Bitcoin tend to move markets single-handedly. If the whale decides to exit this Bitcoin position, there could be enough market impact to push down the price of BTC. It takes about $15 to $30 million of sell pressure to move the price of Bitcoin down 2% on any given exchange.

Since this transaction wasn’t sent to an exchange, it’s unlikely that this Bitcoin whale is looking for liquidity. Instead, they may be transferring this to a different wallet for security purposes.

You can view more details about the transaction here.

According to Glassnode, there are 490,873.00 Bitcoin wallets with over $100,000 in BTC.

See Also: Best Crypto Apps 2021 and Best Crypto Portfolio Trackers

Price Action: Bitcoin is up 6% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter.

This article was generated by Benzinga’s automated content engine and reviewed by an editor.





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MicroStrategy Bought Another 7K Bitcoin Worth $414 Million


MicroStrategy – the firm spearheaded by one of Bitcoin’s most avid and vocal proponents, Michael Saylor – revealed yet another whopping Bitcoin purchase.

  • MicroStrategy doesn’t seem to waste any time and resources when it comes to accumulating more bitcoin.
  • Michael Saylor, the company’s CEO, announced that they had bought another 7,002 bitcoins for around $414.4 million in cash.
  • The average price of their buy was approximately $59,187.
  • At the time of this writing, bitcoin’s price sits at around $57K, which is an increase of around 93% from the average price of $29,534 at which MicroStrategy has made all of its purchases.
  • This means that their investment is currently just shy of $7 billion.
  • Data from CoinGecko reveals that MicroStrategy remains the public company with the largest Bitcoin stash, followed by Tesla, which reportedly owns 48,000 BTC.
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A Breakdown Of Bitcoin and the Game Theory


Game theory is fundamental to the development of cryptocurrencies and is one of the crucial reasons why Bitcoin managed to thrive for over a decade, despite numerous attempts to disrupt the network.

In the past decade, thanks to the ever-increasing popularity of Bitcoin, blockchain technology has attracted a significant degree of attention from both academia and industry. In this article, we examine the game theory of bitcoin, an often mentioned but misunderstood aspect of bitcoin adoption.

What Is Game Theory?

Game theory studies the process of strategic interactions between two or more players in a situation where the outcome for each participant depends on the action of all.

In practice, if you are a player in such a game you must take into account the choices of others when contemplating your strategy. Thinking about their choices, you should also be aware that they are thinking about yours.

Game theory is based on the assumption that all participants are rational actors and are trying to maximize their gains from the game.

Game theory is the science of multi-agent decision-making. It uses mathematics to study the strategic interaction of rational decision-makers. Game theory has social, logical, and computer science applications. It also has Bitcoin applications at the personal, social, business, and nation-state levels.

The prisoner’s dilemma

The prisoner’s dilemma is one of the most popular examples of a game theory model. Let’s see what this example is.

  • It illustrates a scenario where 2 criminals (A and B) are being interrogated after being arrested. 
  • Each criminal is interrogated in a separate room and is unable to communicate with the other. 
  • The prosecutor tries to convince the criminals to testify against one another as a way to reduce their charges. 
  • If A testifies against B, he is set free and B is arrested for 3 years (and vice versa). 
  • However, if both of them betray and testify against each other, they are both arrested for 2 years. 
  • Lastly, if both A and B decide not to betray and stay quiet, they are only sentenced to 1 year in prison due to a lack of sufficient evidence.

Therefore, we would have the following possible outcomes (based on their individual decision):

Clearly, the best scenario for A (or B) is to betray and be set free, but that would require the other to stay quiet and there is no way to predict what decision the other would make. 

In face of a reward, many rational prisoners would probably choose to act on self-interest and betray the other. But if both A and B betray they would stay 2 years in prison and that is not really the best outcome. Therefore, the best option for them, as a pair, would be to stay quiet and get only 1 year instead of 2.

The Prisoner’s dilemma has many variants, but this simple story illustrates the idea of using game theory models to investigate human behavior and possible outcomes based on their process of rational decision-making.

Game theory and cryptocurrencies

What Satoshi Nakamoto, the creator of Bitcoin, did was to find the missing piece of the puzzle: how to ensure that all the actors of a decentralized network behave correctly without trusting each other, an issue that is commonly known as the Byzantine Generals problem.

In simple terms, it is a problem of coordination. The Byzantines are trying to conquer a city, but the attack will only be successful if all generals coordinate and attack together. The problem is how to ensure that all generals will follow the plan, even if they are located in different places and do not trust each other.

When applied to cryptocurrencies, game theory models play an important role when designing a secure and trustless economic system, such as the one of Bitcoin. The creation of Bitcoin as a Byzantine fault-tolerant (BFT) system is the result of a harmonious blend of cryptography and game theory.

The Bitcoin Dilemma

How does this model apply to Bitcoin? A similar model can be found on any scale in our Bitcoin game.

If you take any two individuals, businesses, competing nations, large corporations, any entities for whom the goal is to acquire more capital and enrich themselves, they are all witting or unwitting participants in the Bitcoin Dilemma. Players can either choose to accumulate Bitcoin at any moment or defer to a higher price.

The players in the Bitcoin blockchain are the users of the network and the miners that maintain it. Since Bitcoin is a distributed network, the miners are essential for the network to work correctly as they confirm the validity of transactions.

In simple words, Bitcoin uses game theory and a system of material incentives to make sure that rational actors behave in a certain manner by aligning their interests. In particular, they have been used to influence the interactions and behavior of the miners of the network.

Closing Thoughts

The general application of game theory is to examine how humans behave and make decisions based on their rational minds. Therefore, game theory models should always be considered when designing distributed systems, such as the ones of cryptocurrencies. 

Thanks to a balanced combination of cryptography and game theory, the Proof of Work consensus algorithm was able to create the Bitcoin blockchain as a decentralized economic system, which is highly resistant to attacks. The same is true for other cryptocurrencies and the concepts of game theory also apply to PoS blockchains.

Game Theory has made Bitcoin and cryptocurrencies strong and secure as a whole. Keep in mind, however, that the degree of security and resilience a blockchain has is dependent on its protocol and is directly related to the number of participants of the network.  

About Us 

ImmuneBytes is a Blockchain security firm that employs the industry’s best tools and practices to provide a comprehensive smart contract audit. We have a team of robust and experienced security professionals who are adept at their niches and provide you with a quality service. We have worked on 105+ projects spread across the world on different Blockchain frameworks with some of the industry’s top firms and we continue to unfold the decentralized movement.

We are also providing consultancy, coming up with a bug bounty platform, and also an insurance product to provide our clients with a hassle-free security product catalog. Stay tuned.



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Ethereum Whales Are Buying Three Gaming Altcoins As Bitcoin and Crypto Markets Bounce Back


As Bitcoin and the overall crypto markets begin to show signs of recovery, new data is revealing which gaming tokens Ethereum whales are most interested in accumulating.

On-chain data shows the largest Ethereum whales in existence are now purchasing the gaming metaverse Decentraland (MANA) above all gaming tokens.

On average, each MANA whale purchase has totaled an average of $74,320 over the last seven days, according to the whale tracker WhaleStats.

Whales are also accumulating the virtual gaming token powering The Sandbox (SAND), with an average purchase amount of $27,333 per transaction.

Coming in third is the gaming ecosystem token Gala (GALA), with an average of $26,339 per Ethereum whale purchase.

All three coins have had extremely volatile price movements in recent days, along with the rest of the crypto markets. At time of publishing, MANA is up 16.6% in the last 24 hours at $5.11. The Sandbox is up 27.23% in the last day at $7.61, and GALA is up 25.3% in the same time frame, at $0.72.

Looking at the top ten altcoins purchased by Ethereum whales in the last week, the number one altcoin on the list is ETH itself, with an average purchase amount of $796,476.

Source: WhaleStats

Coming in at a close second is FTX Token (FTT), with an average purchase amount of $725,782.

That’s followed by the dollar-pegged stablecoin USD Coin (USDC), clocking in with an average purchase amount of $159,868.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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