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The Federal Reserve and the United States government are pumping extreme amounts of money into the economy, already totaling over $484 billion. They are doing so because it already had a goal to inflate the United States Dollar (USD) so that the market can continue to all-time highs. It has always had this goal. They do not care how much inflation goes up by now as we are going into a depression with the potential to totally crash the US economy forever. They believe the only way to save the market from going to zero or negative values is to inflate it so much that it cannot possibly crash that low. Even if the market does not dip that low, inflation serves the interest of powerful people.
The impending crash of the stock market has ramifications for Bitcoin, as, though there is no direct ongoing-correlation between the two, major movements in traditional markets will necessarily affect Bitcoin. According to the Blockchain Center’s Cryptocurrency Correlation Tool, Bitcoin is not correlated with the stock market. However, when major market movements occur, they send ripples throughout the financial ecosystem which necessary affect even ordinarily uncorrelated assets.
Therefore, Bitcoin will reach X price on X date after crashing to a price of X by X date.
Stock Market CrashThe Federal Reserve has caused some serious consternation with their release of ridiculous amounts of money in an attempt to buoy the economy. At face value, it does not seem to have any rationale or logic behind it other than keeping the economy afloat long enough for individuals to profit financially and politically. However, there is an underlying basis to what is going on which is important to understand in order to profit financially.
All markets are functionally price probing systems. They constantly undergo a price-discovery process. In a fiat system, money is an illusory and a fundamentally synthetic instrument with no intrinsic value – similar to Bitcoin. The primary difference between Bitcoin is the underlying technology which provides a slew of benefits that fiat does not. Fiat, however, has an advantage in being able to have the support of powerful nation-states which can use their might to insure the currency’s prosperity.
Traditional stock markets are composed of indices (pl. of index). Indices are non-trading market instruments which are essentially summaries of business values which comprise them. They are continuously recalculated throughout a trading day, and sometimes reflected through tradable instruments such as Exchange Traded Funds or Futures. Indices are weighted by market capitalizations of various businesses.
Price theory essentially states that when a market fails to take out a new low in a given range, it will have an objective to take out the high. When a market fails to take out a new high, it has an objective to make a new low. This is why price-time charts go up and down, as it does this on a second-by-second, minute-by-minute, day-by-day, and even century-by-century basis. Therefore, market indices will always return to some type of bull market as, once a true low is formed, the market will have a price objective to take out a new high outside of its’ given range – which is an all-time high. Instruments can only functionally fall to zero, whereas they can grow infinitely.
So, why inflate the economy so much?
Deflation is disastrous for central banks and markets as it raises the possibility of producing an overall price objective of zero or negative values. Therefore, under a fractional reserve system with a fiat currency managed by a central bank – the goal of the central bank is to depreciate the currency. The dollar is manipulated constantly with the intention of depreciating its’ value.
Central banks have a goal of continued inflated fiat values. They tend to ordinarily contain it at less than ten percent (10%) per annum in order for the psyche of the general populace to slowly adjust price increases. As such, the markets are divorced from any other logic. Economic policy is the maintenance of human egos, not catering to fundamental analysis. Gross Domestic Product (GDP) growth is well-known not to be a measure of actual growth or output. It is a measure of increase in dollars processed. Banks seek to produce raising numbers which make society feel like it is growing economically, making people optimistic. To do so, the currency is inflated, though inflation itself does not actually increase growth. When society is optimistic, it spends and engages in business – resulting in actual growth. It also encourages people to take on credit and debts, creating more fictional fiat.
Inflation is necessary for markets to continue to reach new heights, generating positive emotional responses from the populace, encouraging spending, encouraging debt intake, further inflating the currency, and increasing the sale of government bonds. The fiat system only survives by generating more imaginary money on a regular basis.
Bitcoin investors may profit from this by realizing that stock investors as a whole always stand to profit from the market so long as it is managed by a central bank and does not collapse entirely. If those elements are filled, it has an unending price objective to raise to new heights. It also allows us to realize that this response indicates that the higher-ups believe that the economy could crash in entirety, and it may be wise for investors to have multiple well-thought-out exit strategies.
Economic Analysis of BitcoinThe reason why the Fed is so aggressively inflating the economy is due to fears that it will collapse forever or never rebound. As such, coupled with a global depression, a huge demand will appear for a reserve currency which is fundamentally different than the previous system. Bitcoin, though a currency or asset, is also a market. It also undergoes a constant price-probing process. Unlike traditional markets, Bitcoin has the exact opposite goal. Bitcoin seeks to appreciate in value and not depreciate. This has a quite different affect in that Bitcoin could potentially become worthless and have a price objective of zero.
Bitcoin was created in 2008 by a now famous mysterious figure known as Satoshi Nakamoto and its’ open source code was released in 2009. It was the first decentralized cryptocurrency to utilize a novel protocol known as the blockchain. Up to one megabyte of data may be sent with each transaction. It is decentralized, anonymous, transparent, easy to set-up, and provides myriad other benefits. Bitcoin is not backed up by anything other than its’ own technology.
Bitcoin is can never be expected to collapse as a framework, even were it to become worthless. The stock market has the potential to collapse in entirety, whereas, as long as the internet exists, Bitcoin will be a functional system with a self-authenticating framework. That capacity to persist regardless of the actual price of Bitcoin and the deflationary nature of Bitcoin means that it has something which fiat does not – inherent value.
Bitcoin is based on a distributed database known as the “blockchain.” Blockchains are essentially decentralized virtual ledger books, replete with pages known as “blocks.” Each page in a ledger is composed of paragraph entries, which are the actual transactions in the block.
Blockchains store information in the form of numerical transactions, which are just numbers. We can consider these numbers digital assets, such as Bitcoin. The data in a blockchain is immutable and recorded only by consensus-based algorithms. Bitcoin is cryptographic and all transactions are direct, without intermediary, peer-to-peer.
Bitcoin does not require trust in a central bank. It requires trust on the technology behind it, which is open-source and may be evaluated by anyone at any time. Furthermore, it is impossible to manipulate as doing so would require all of the nodes in the network to be hacked at once – unlike the stock market which is manipulated by the government and “Market Makers”. Bitcoin is also private in that, though the ledge is openly distributed, it is encrypted. Bitcoin’s blockchain has one of the greatest redundancy and information disaster recovery systems ever developed.
Bitcoin has a distributed governance model in that it is controlled by its’ users. There is no need to trust a payment processor or bank, or even to pay fees to such entities. There are also no third-party fees for transaction processing. As the ledge is immutable and transparent it is never possible to change it – the data on the blockchain is permanent. The system is not easily susceptible to attacks as it is widely distributed. Furthermore, as users of Bitcoin have their private keys assigned to their transactions, they are virtually impossible to fake. No lengthy verification, reconciliation, nor clearing process exists with Bitcoin.
Bitcoin is based on a proof-of-work algorithm. Every transaction on the network has an associated mathetical “puzzle”. Computers known as miners compete to solve the complex cryptographic hash algorithm that comprises that puzzle. The solution is proof that the miner engaged in sufficient work. The puzzle is known as a nonce, a number used only once. There is only one major nonce at a time and it issues 12.5 Bitcoin. Once it is solved, the fact that the nonce has been solved is made public.
A block is mined on average of once every ten minutes. However, the blockchain checks every 2,016,000 minutes (approximately four years) if 201,600 blocks were mined. If it was faster, it increases difficulty by half, thereby deflating Bitcoin. If it was slower, it decreases, thereby inflating Bitcoin. It will continue to do this until zero Bitcoin are issued, projected at the year 2140. On the twelfth of May, 2020, the blockchain will halve the amount of Bitcoin issued when each nonce is guessed. When Bitcoin was first created, fifty were issued per block as a reward to miners. 6.25 BTC will be issued from that point on once each nonce is solved.
Unlike fiat, Bitcoin is a deflationary currency. As BTC becomes scarcer, demand for it will increase, also raising the price. In this, BTC is similar to gold. It is predictable in its’ output, unlike the USD, as it is based on a programmed supply. We can predict BTC’s deflation and inflation almost exactly, if not exactly. Only 21 million BTC will ever be produced, unless the entire network concedes to change the protocol – which is highly unlikely.
Some of the drawbacks to BTC include congestion. At peak congestion, it may take an entire day to process a Bitcoin transaction as only three to five transactions may be processed per second. Receiving priority on a payment may cost up to the equivalent of twenty dollars ($20). Bitcoin mining consumes enough energy in one day to power a single-family home for an entire week.
Trading or Investing?The fundamental divide in trading revolves around the question of market structure. Many feel that the market operates totally randomly and its’ behavior cannot be predicted. For the purposes of this article, we will assume that the market has a structure, but that that structure is not perfect. That market structure naturally generates chart patterns as the market records prices in time. In order to determine when the stock market will crash, causing a major decline in BTC price, we will analyze an instrument, an exchange traded fund, which represents an index, as opposed to a particular stock. The price patterns of the various stocks in an index are effectively smoothed out. In doing so, a more technical picture arises. Perhaps the most popular of these is the SPDR S&P Standard and Poor 500 Exchange Traded Fund ($SPY).
In trading, little to no concern is given about value of underlying asset. We are concerned primarily about liquidity and trading ranges, which are the amount of value fluctuating on a short-term basis, as measured by volatility-implied trading ranges. Fundamental analysis plays a role, however markets often do not react to real-world factors in a logical fashion. Therefore, fundamental analysis is more appropriate for long-term investing.
The fundamental derivatives of a chart are time (x-axis) and price (y-axis). The primary technical indicator is price, as everything else is lagging in the past. Price represents current asking price and incorrectly implementing positions based on price is one of the biggest trading errors.
Markets and currencies ordinarily have noise, their tendency to back-and-fill, which must be filtered out for true pattern recognition. That noise does have a utility, however, in allowing traders second chances to enter favorable positions at slightly less favorable entry points. When you have any market with enough liquidity for historical data to record a pattern, then a structure can be divined. The market probes prices as part of an ongoing price-discovery process. Market technicians must sometimes look outside of the technical realm and use visual inspection to ascertain the relevance of certain patterns, using a qualitative eye that recognizes the underlying quantitative nature
Markets and instruments rise slower than they correct, however they rise much more than they fall. In the same vein, instruments can only fall to having no worth, whereas they could theoretically grow infinitely and have continued to grow over time. Money in a fiat system is illusory. It is a fundamentally synthetic instrument which has no intrinsic value. Hence, the recent seemingly illogical fluctuations in the market.
According to trade theory, the unending purpose of a market or instrument is to create and break price ranges according to the laws of supply and demand. We must determine when to trade based on each market inflection point as defined in price and in time as opposed to abandoning the trend (as the contrarian trading in this sub often does). Time and Price symmetry must be used to be in accordance with the trend. When coupled with a favorable risk to reward ratio, the ability to stay in the market for most of the defined time period, and adherence to risk management rules; the trader has a solid methodology for achieving considerable gains.
We will engage in a longer term market-oriented analysis to avoid any time-focused pressure. The Bitcoin market is open twenty-four-hours a day, so trading may be done when the individual is ready, without any pressing need to be constantly alert. Let alone, we can safely project months in advance with relatively high accuracy. Bitcoin is an asset which an individual can both trade and invest, however this article will be focused on trading due to the wide volatility in BTC prices over the short-term.
Technical Indicator Analysis of BitcoinTechnical indicators are often considered self-fulfilling prophecies due to mass-market psychology gravitating towards certain common numbers yielded from them. They are also often discounted when it comes to BTC. That means a trader must be especially aware of these numbers as they can prognosticate market movements. Often, they are meaningless in the larger picture of things.
Trend Definition Analysis of BitcoinTrend definition is highly powerful, cannot be understated. Knowledge of trend logic is enough to be a profitable trader, yet defining a trend is an arduous process. Multiple trends coexist across multiple time frames and across multiple market sectors. Like time structure, it makes the underlying price of the instrument irrelevant. Trend definitions cannot determine the validity of newly formed discretes. Trend becomes apparent when trades based in counter-trend inflection points continue to fail.
Downtrends are defined as an instrument making lower lows and lower highs that are recurrent, additive, qualified swing setups. Downtrends for all instruments are similar, except forex. They are fast and complete much quicker than uptrends. An average downtrend is 18 months, something which we will return to. An uptrend inception occurs when an instrument reaches a point where it fails to make a new low, then that low will be tested. After that, the instrument will either have a deep range retracement or it may take out the low slightly, resulting in a double-bottom. A swing must eventually form.
A simple way to roughly determine trend is to attempt to draw a line from three tops going upwards (uptrend) or a line from three bottoms going downwards (downtrend). It is not possible to correctly draw a downtrend line on the BTC chart, but it is possible to correctly draw an uptrend – indicating that the overall trend is downwards. The only mitigating factor is the impending stock market crash.
Time Symmetry Analysis of BitcoinTime is the movement from the past through the present into the future. It is a measurement in quantified intervals. In many ways, our perception of it is a human construct. It is more powerful than price as time may be utilized for a trade regardless of the market inflection point’s price. Were it possible to perfectly understand time, price would be totally irrelevant due to the predictive certainty time affords. Time structure is easier to learn than price, but much more difficult to apply with any accuracy. It is the hardest aspect of trading to learn, but also the most rewarding.
Humans do not have the ability to recognize every time window, however the ability to define market inflection points in terms of time is the single most powerful trading edge. Regardless, price should not be abandoned for time alone. Time structure analysis It is inherently flawed, as such the markets have a fail-safe, which is Price Structure. Even though Time is much more powerful, Price Structure should never be completely ignored. Time is the qualifier for Price and vice versa. Time can fail by tricking traders into counter-trend trading.
Time is a predestined trade quantifier, a filter to slow trades down, as it allows a trader to specifically focus on specific time windows and rest at others. It allows for quantitative measurements to reach deterministic values and is the primary qualifier for trends. Time structure should be utilized before price structure, and it is the primary trade criterion which requires support from price. We can see price structure on a chart, as areas of mathematical support or resistance, but we cannot see time structure.
Time may be used to tell us an exact point in the future where the market will inflect, after Price Theory has been fulfilled. In the present, price objectives based on price theory added to possible future times for market inflection points give us the exact time of market inflection points and price.
Time Structure is repetitions of time or inherent cycles of time, occurring in a methodical way to provide time windows which may be utilized for inflection points. They are not easily recognized and not easily defined by a price chart as measuring and observing time is very exact. Time structure is not a science, yet it does require precise measurements. Nothing is certain or definite. The critical question must be if a particular approach to time structure is currently lucrative or not.
We will measure it in intervals of 180 bars. Our goal is to determine time windows, when the market will react and when we should pay the most attention. By using time repetitions, the fact that market inflection points occurred at some point in the past and should, therefore, reoccur at some point in the future, we should obtain confidence as to when SPY will reach a market inflection point. Time repetitions are essentially the market’s memory. However, simply measuring the time between two points then trying to extrapolate into the future does not work. Measuring time is not the same as defining time repetitions. We will evaluate past sessions for market inflection points, whether discretes, qualified swings, or intra-range. Then records the times that the market has made highs or lows in a comparable time period to the future one seeks to trade in.
What follows is a time Histogram – A grouping of times which appear close together, then segregated based on that closeness. Time is aligned into combined histogram of repetitions and cycles, however cycles are irrelevant on a daily basis. If trading on an hourly basis, do not use hours.
Evaluating the yearly lows, we see that BTC tends to have its lows primarily at the beginning of every year, with a possibility of it being at the end of the year. Following the same methodology, we get the middle of the month as the likeliest day. However, evaluating the monthly lows for the past year, the beginning and end of the month are more likely for lows.
Therefore, we have two primary dates from our histogram.
1/1/21, 1/15/21, and 1/29/21
2:00am, 8:00am, 12:00pm, or 10:00pm
In fact, the high for this year was February the 14th, only thirty days off from our histogram calculations.
The 8.6-Year Armstrong-Princeton Global Economic Confidence model states that 2.15 year intervals occur between corrections, relevant highs and lows. 2.15 years from the all-time peak discrete is February 9, 2020 – a reasonably accurate depiction of the low for this year (which was on 3/12/20). (Taking only the Armstrong model into account, the next high should be Saturday, April 23, 2022). Therefore, the Armstrong model indicates that we have actually bottomed out for the year!
Bear markets cannot exist in perpetuity whereas bull markets can. Bear markets will eventually have price objectives of zero, whereas bull markets can increase to infinity. It can occur for individual market instruments, but not markets as a whole. Since bull markets are defined by low volatility, they also last longer. Once a bull market is indicated, the trader can remain in a long position until a new high is reached, then switch to shorts. The average bear market is eighteen months long, giving us a date of August 19th, 2021 for the end of this bear market – roughly speaking. They cannot be shorter than fifteen months for a central-bank controlled market, which does not apply to Bitcoin. (Otherwise, it would continue until Sunday, September 12, 2021.) However, we should expect Bitcoin to experience its’ exponential growth after the stock market re-enters a bull market.
Terry Laundy’s T-Theory implemented by measuring the time of an indicator from peak to trough, then using that to define a future time window. It is similar to an head-and-shoulders pattern in that it is the process of forming the right side from a synthetic technical indicator. If the indicator is making continued lows, then time is recalculated for defining the right side of the T. The date of the market inflection point may be a price or indicator inflection date, so it is not always exactly useful. It is better to make us aware of possible market inflection points, clustered with other data. It gives us an RSI low of May, 9th 2020.
The Bradley Cycle is coupled with volatility allows start dates for campaigns or put options as insurance in portfolios for stocks. However, it is also useful for predicting market moves instead of terminal dates for discretes. Using dates which correspond to discretes, we can see how those dates correspond with changes in VIX.
Therefore, our timeline looks like:
submitted by MyCoinStory to MyCoinStory [link] [comments]
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HOW WELL DO YOU KNOW ABOUT BLOCKCHAIN AND BITCOIN?For those who think that blockchain is Bitcoin, you must read this post. If you have a hard time explaining the relationship between blockchain and Bitcoin in 3 seconds, or if there are MCS traders who think 'Blockchain = Bitcoin', please read this post to the end. MCS will straighten out the widespread misunderstanding.
WHAT IS BLOCKCHAIN?https://preview.redd.it/o57l0idfq5551.png?width=2000&format=png&auto=webp&s=b70b13f7ce792ea4d8e3baf8de9c1161841c78c0
Blockchain refers to the core technologies used in cryptocurrencies such as Bitcoin and Ethereum. Blockchain is an algorithm that stores the confirmed transaction details for a certain period of time in a block, connects them to an existing chain of blocks (thus called "blockchain"), and copies and distributes them to many others. In simple terms, blockchain is a 'distributed ledger' technology, and it is a technology that distributes and manages transaction history among a large number of people rather than managing it in a centralized database.
There are 3 types of blockchain in the blockchain: public blockchain, private blockchain, and hybrid blockchain.
A public blockchain is an open blockchain network that anyone can participate freely. Therefore, you join the blockchain network without someone's approval if you have a computer and the Internet. A computer participating in the blockchain network is called a 'node'. Each node can copy and store data in the blockchain and create new blocks through "hashing", famously known as mining.
In the case of the public blockchain, the cryptocurrency of each network is issued and provided to reward participating nodes in the blockchain network. In other words, the participation reward is cryptocurrency!
2. PRIVATE BLOCKCHAINhttps://preview.redd.it/5soztmwgq5551.png?width=2000&format=png&auto=webp&s=ce3567d9c46650803fafc20eeb0ea1ae4e721be7
A private blockchain is a closed blockchain network that can only be participated by predetermined organizations or individuals. In order to participate in a private blockchain network, as opposed to a public blockchain, it must be approved by the administrator of the corresponding private blockchain network, and disapproved organizations or individuals cannot participate in the blockchain network. In the case of a private blockchain, only a small number of authorized participants participate, so it is possible to maintain a high level of confidentiality, and only trusted people can participate for a fast blockchain network speed. However, since the blocks are created by a small number of participants, its data reliability is lower than public blockchains.
3. HYBRID BLOCKCHAINhttps://preview.redd.it/39uv8nchq5551.png?width=2000&format=png&auto=webp&s=e180c1ea1975f434b2b197221a4fefa448cbcb9f
A hybrid blockchain combines the characteristics of public and private blockchains. A hybrid blockchain is a blockchain that complements the shortcomings of public and private blockchains and maximizes the advantages. In the case of hybrid blockchain, it can be subdivided into a double chain, an interchain, and a consortium blockchain.
3.1. DOUBLE CHAINA double Chain is a method in which confidential information of a company that requires a high level of security is stored in a private blockchain, and information that can be disclosed to the public is connected to a public blockchain.
3.2. INTERCHAINAn interchain is a blockchain that connects different blockchain networks. In an interchain, a product originally designed to be usable with only A coin can be used with B coin which is connected to the same interchain network. Blockchain projects that implement interchain include Icon, Aion, Cosmos, and YGGDRASH.
WHAT IS BITCOIN?https://preview.redd.it/yqced20iq5551.png?width=2000&format=png&auto=webp&s=08de5f055db4be51341fbfdf641fe0128f381e5b
Bitcoin is the first cryptocurrency created on the basis of public blockchain technology. In 2008, the Bitcoin white paper was first released, and on January 3, 2009, Genesis Block, the very first block, was created. Since the Bitcoin blockchain network is a public blockchain, all participants can freely participate in the Bitcoin blockchain network without approval, and Bitcoin blockchain nodes are rewarded with Bitcoin whenever they contribute to the creation of the Bitcoin blockchain. Bitcoin's block reward is reduced by half according to the number of blocks created. This is called 'halving'. On November 28, 2012, the first halving reduced the block reward from 50 to 25, and from 25 to 12.5 through the second halving on July 9, 2016. After the most recent third halving on May 11, 2020, the reward is now 6.25.
We hope that now you grasped the definition of blockchain and Bitcoin and their relationship. 'Blockchain', one of the distributed ledger technologies, and 'Bitcoin ', one of the cryptocurrencies of public blockchain networks, have a clear distinction. If there are people who still get confused about Bitcoin and blockchain, please recommend this post to them!
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[Today's Hot Tips]submitted by LOEXCHANGE to u/LOEXCHANGE [link] [comments]
1. [BSV network test catches up with Bitcoin halving, resulting in transaction backlog and 309 MB large block innovation record]
On May 19, the BSV node team published a "Comment on the user stress test on the Bitcoin SV network on May 12", saying that some users launched a week-long public stress test on the Bitcoin SV network from May 12. On the first day of testing, about 2 million low-rate transactions were broadcast to the Bitcoin SV network. The rate of most of these transactions exceeds the default value of the forwarding rate, but is lower than the transaction acceptance rate. This means that these transactions can be propagated smoothly, but they will not be packaged by the vast majority of miners, which results in a continuous backlog of transactions and occupies up to 1.7GB of memory. At the same time, the backlog of transactions happened on the first day after the BTC block reward was halved. After the halving, many BTC miners transferred to BSV, which diluted the previous BSV miners' hashrate.
At the same time, the mining pool that implements the transaction acceptance rate of 0.25 Satoshi / byte (the default value of the forwarding rate), that is, Mempool has only mine less than 1% block of the area after May 11 due to the decline in the hashrate, it is not possible to process all the backlog of transactions on your own. Finally, on May 12, the backlog of transactions in the memory pool was cleared by TAAL, and a large 309MB block was mined out, setting a new record.
2. [Miao Wei, Minister of the Ministry of Industry and Information Technology: Strongly support blockchain and other technological innovations and industrial applications]
Miao wei, minister of the ministry of industry and information technology, said at a press conference held by the state council information office today that the development of new industries and new forms of business should be vigorously promoted.We will actively promote the new generation of information technology to support epidemic prevention and control and the resumption of work and production, and vigorously support technological innovation and industrial application in 5G, artificial intelligence, industrial Internet, Internet of things, Internet of vehicles, big data, and blockchain.
3. 【BTC reduced the difficulty by 6% at 10:06 today, this is the first adjustment after completing the halving】
According to the OKLink blockchain browser, Bitcoin's first difficulty adjustment was completed after halving the block height at 631008 at 10:06:56 Beijing time on May 20. The difficulty of the whole network is reduced by 6.00% to 15.14T compared with before halving, and the unit hashrate income is adjusted to 0.00008831 BTC / T, which is an increase from the previous half.
According to the introduction, OKLink blockchain browser is an information service application created by OKLink, the first blockchain big data listed company in the world. It aims to present fast, accurate and comprehensive data on the chain and provide users with professional and personalized data analysis services.
4. [The 25,000 BTC in the core cold wallet of Gate.io has not changed this year]
Regarding the recent security rumors of the Gate.io exchange, some investors should be inquired. Although the specific progress of the case is still unknown, as far as the current BTC asset status of the exchange is concerned, the Chainsmap monitoring system found that 25,100 BTC in its core cold wallet have not been transferred out this year. In addition, there are nearly 6,000 BTC in other official core wallets. At the same time, due to rumors, the exchange's recent net outflow of bitcoin has increased and reached its recent peak on Sunday, but then the net outflow data soon fell back.
[Today's market analysis]
Bitcoin (BTC)BTC continued to oscillate around 9670 USDT in the early morning. It rebounded slightly at about 6 o'clock in the morning and returned to above 9700 USDT in a short time. The highest rose to 9773.97 USDT. At present, BTC as a whole fluctuated in a narrow range around 9700 USDT. The mainstream currencies followed the consolidation, and all currencies were adjusted in shock. BTC is currently reported at 9760.4 USDT at LOEx Global, an increase of 0.77% in 24h.
Bitcoin is facing a change. In the past few hours, Bitcoin has been rising wildly. Its price quickly soared to $ 9,900, but BitMEX's internal problems paralyzed the platform and affected the cryptocurrency. After the incident, Bitcoin fell 3.5%, erasing today's gains. However, under the negative situation, Bitcoin is still in a stable and strong position, indicating that Bitcoin is here to refuse to fall, and the 10,000 points will definitely go up again. However, in the face of a downward trend line, it tends to go back down and then make an upward breakthrough. For the bulls, Bitcoin needs to break the $ 10,000 level to form a recent bullish trend.
Support level: the first support level is 9500 points, the second support level is 9300 integers;
Resistance level: the first resistance level is 10000 points, the second resistance level is 11000 points.
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1. Includes Drinkers, Buyers, and Sellers 2. Anyone within The Market may play any of the aforementioned roles at any time. 3. Manages BITCOIN PROTOCOL - Block Reward (frequency, amount, halving) - Die Rolls - Drink Pour
1. Acts autonomously; is not included within The Market. 2. Sells glasses and drinks to Drinkers. 3. Manages PRICE LIST OF GOODS - Glasses (fiat/glass) - Drinks (fiat/oz.)
1. Acts autonomously; is not included within The Market. 2. Manages MONETARY POLICY - Inflation Rate - Circulating Supply of FiatItems needed:
Halving on the way: the cost of bitcoin in Maysubmitted by Smart_Smell to Robopay [link] [comments]
• An expert is sure that bitcoin price will not change after halving
• Any forecasts are an attempt to speculate on the market.
• After halving, bitcoin volatility will increase sharply
The next halving of Bitcoin will occur approximately on May 12-14, as a result of which the reward for one mined block will be reduced by exactly half and will be $6.25. Along with this, the number of coins issued in 10 minutes of time on the Bitcoin blockchain will decrease. The questions of how will these events affect the value of the main cryptocurrency and is it true that bitcoin can return to January highs of $ 10,000, were answered by a crypto enthusiast and host of the “Let's Talk About Bitcoins” podcast Andreas M. Antonopoulos.
According to the expert, no one in the world can say exactly how much bitcoin will cost. The dynamics of the cryptocurrency market is so ambiguous and depends on many factors, that predicting the price of bitcoin or other coins is equal to “fortune telling on the coffee grounds” or “making astroprognosis”. According to Antonopoulos, all the forecasts on the Internet are made, most likely, by speculators who only stir up panic around the cryptocurrency.
According to Antonopoulos himself, most likely, after halving, the price of bitcoin will not change in any way. Reducing the number of coins issued and rewards for them are more likely to contribute to the growth of volatility, since neither the holders of the coins, nor investors, nor the exchanges themselves will know how the coin will behave after division in two. Therefore, in the first few weeks there will be a jump in volatility. The same thing happens on the market today after carrying out a halving of VSN coins. Most likely, some holders will prefer to sell their coins, fearing a possible price reduction. Others, on the contrary, in anticipation of rapid growth will buy up cheap bitcoin.
The coin value is influenced not only by internal technical factors, but also by the mood of the market as a whole. Therefore, you should not base your forecasts solely on the influence of halving, Antonopoulos is sure.
So up or down?
If crypto enthusiast Antonopoulos is not ready to make forecasts, then domestic experts are much more open and share their assumptions. So, according to trader Kir Kelevra, the cost of bitcoin will definitely increase in anticipation of halving and immediately after it. This will be facilitated by increased demand for cryptocurrencies from holders and investors.
American investor and crypto enthusiast Tim Draper believes in the growth of bitcoin and considers the coin to be the main investment asset of the future. According to him, for the past three years, the BTC could rise in price up to $250,000. Several factors will contribute to this at once: the growing popularity of cryptocurrencies among millennials and generation Z, the collapse of the global banking system, which remains quite closed and static.
At the same time, crypto enthusiast Tony Weiss predicts that the price of bitcoin could fall to a minimum of $ 1,000 by the end of the year.
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If you’ve used our XLMwallet, you know that Stellar is exceptionally fast compared to Bitcoin and Ethereum. How is it possible? They are all blockchains, after all. Does the high speed mean that Stellar is centralized? Not at all — here’s why.submitted by Stellar__wallet to XLM_wallet [link] [comments]
With XLMwallet you can send and receive lumens (XLM) in under 5 seconds. For comparison: with Bitcoin, one confirmation takes 10 minutes (1 block time), and many exchanges and dApps require more than 3 confirmations. So your recipient will need to wait for half an hour or more to get their money.
5 seconds vs 10 minutes — it’s a 120x difference! How can one blockchain network be 120 times faster than another?
Some people who are not familiar with Stellar think that it must be centralized to be so efficient. But the truth is very different!
SCP vs PoW
The key reason why Stellar has such a huge processing speed is that it uses a completely different consensus protocol.
As you probably know, Bitcoin employs Proof-of-Work, where miners have to waste lots of resources trying to find a solution (hash) for each block. Network members together agree that the found hash is correct, and whoever found it first gets a reward. This agreement is known as consensus.
PoW a good system in the sense that it’s difficult to attack. A thief or hacker would need to spend a gigantic sum of money to force the network to agree on something that is not true. But PoW is also hugely wasteful. Maybe you’ve heard that Bitcoin mining consumes as much energy as a small country — it’s true!
The Byzantine problem
Instead of PoW, Stellar uses something called Federated Byzantine Agreement (FBA). This consensus model answers the same question: how can we make the nodes in the network work for the common good? How can we prevent evil agents (nodes) from colluding with each other and deceiving others?
The word Byzantine refers to the so-called Byzantine Generals Problem. The generals are sieging an enemy city, each with his own division. They have to decide if they want to attack, and the only way to communicate is to send a messenger. Some of the generals are actually enemy spies, so they send conflicting messages. Other messages can get lost. The problem is, how do we find out what the real generals think?
Stellar’s Federated Byzantine Agreement can solve the problem. This model was created in 2015 by a professor from Stanford University. It’s too complicated to describe it in detail here, but here are some facts:
- All the nodes are divided into quorums (groups). Within each quorum, each node trusts some other nodes, and these ‘circles of trust’ are called slices.
- Nodes reach an agreement within each quorum.
- Different quorums intersect, and that ensures general agreement across the network.
- Even if many nodes turn ‘evil’ or get turned off, the system still reaches an agreement.
The bottom line is that there’s a very complex system of interlocking ‘agreement groups’, voting and ballots. Still, it’s many times faster than PoW — and yet very hard to break or hack into. You can read more here.
Even if you don’t know anything about consensus protocols, don’t worry. You can still use XLMwallet and enjoy all of its advantages: fast crypto transfers, user-friendly web interface, support for all Stellar assets (lumens and tokens), transfers by email, account merging, and so on.
By the way, now is still a good time to buy some more XLM. It’s been growing steadily and gained more than 20% in just one week. But there’s still a huge potental for growth after the Bitcoin halving on May 18.
So better make up your mind now — you can buy XLM on any major exchange. To protect your investment, withdraw the lumens from the exchange and store them safely in XLMwallet — the fastest, lightest web wallet for Stellar.
Web site — https://xlmwallet.co/
Medium — https://medium.com/@XLMwalletCo
Teletype — https://teletype.in/@XLMwalletCo
Twitter — https://twitter.com/XLMwalletCo
Reddit — https://www.reddit.com/XLM_wallet/
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]
Bitcoin Skyrocketed Past $7,500, While The Stock Market Took Another Substantial Hit
Bitcoin and the world of stocks had a pronounced price correlation during the whole month of March. Some of the crypto experts even claimed Bitcoin to have “failed to serve as a safe haven asset like gold.” Bitcoin’s behavior, like a risk-on asset, followed the price swings of major US indices precisely. The latest pump came shortly after the Federal Reserve announcing $2 trillion in stimulus packages.
However, the trend finally has been broken, as Bitcoin passed the critical $7,500 resistance level on trading at $7,525.63 as of press time.
Source: TradingView; Coinbase
Meanwhile, the stock market suffered from yet another downward spiral. DOW managed to stay at a mere 0.2 percent upwards momentum, while Nasdaq Composite and S&P 500 fell with one percent.
The primary reason for the correction in U.S. indices is Financial Times (FT) reporting Gilead Sciences failed in the tests of their antiviral Remdesivir COVID-19 drug. The drug failed clinical trials. The information, according to the FT, came from a leaked Gilead Report to the World Health Organization.
Investors hoped that а successful vaccine trial would allow the global economy to bounce back to life and form a v-shaped pattern. However, experts consider the stimulus relief packages by the U.S. government are only artificially pumping the numbers. Also, the results from the stimulus pump may pop every moment, while the healthcare crisis intensifies.
However, Bitcoin’s upwards price movement, acting against the stock market, regained some of the trust BTC being a security asset. Global trader Joel Kruger published an animation, showing BTC’s definite price increase, which correlates with traditional haven assets such as Gold. However, Gold didn’t perform as well as BTC.
Another possible reason behind Bitcoin’s peak is researcher Mike Glone’s report on Bloomberg. Glone emphasized on Bitcoin and Gold being into a strong bullish run. He even claimed that “2020 would confirm Bitcoin transforming from a risk asset to a safe haven asset.”
Also, the correlation breakage may be due to the Bitcoin world preparing to undergo its third halving procedure. The mining reward cut is scheduled for block 690,000, which, according to estimations, would occur in mid-May 2020. Some analysts are on the opinion that the supply rate cut would boost Bitcoin’s price to over $100,000 by 2021.
submitted by SwipeWallet to Swipe_io [link] [comments]
Sometime in May of this year, Bitcoin (BTC) is expected to have its “third halving” at block 630,000.
What is Bitcoin halving and what are its implications in the industry?
For starters, Bitcoin halving is a pre-programmed event where the number of Bitcoin rewards per block will be literally halved or divided by two. Meaning the present block reward of 12.5 BTC is expected to drop to 6.25 BTC per block.
Each block is a permanent store of records. It is composed of records of all recent transactions in the Bitcoin network. A block is more likely compared to a ledger or a record book, and each time a block transaction is completed, it gives way to another block, thus “chaining” them together and creating a decentralized ledger.
As of writing, the current blocks mined are around 626,344 The third halving is expected to take place around the middle of May, between 12th to the 24th of May, when the network hits its 630,000th block.
Bitcoin was first launched in 2009 and had a block subsidy of 50 BTC. In November 2012, the first Bitcoin halving commenced and reduced the 50 BTC subsidy to 25 BTC. It further dropped on the second halving in 2016 by 12.5 BTC per block.
Why does Bitcoin cut its block subsidy by half?
Bitcoin has a total fixed supply of 21 million. At present, almost 18.3 million bitcoins were minted. This means that the number of bitcoins found per block will be scarcer, and doing a Bitcoin halving reward ensures that the total supply will reach 21 million in time. To moderate the rate of the issuance of new bitcoins, it reduces the amount of subsidy into 50% every 210,000 blocks, which happen every four years.
With this halving, the miners or the nodes that maintain the bitcoin network will create fewer new Bitcoins. This doesn’t necessarily mean that the miners’ revenue will be reduced by half. Though it doesn’t rule out this possibility, the reduction refers to the number of BTC produced and not the value of BTC measured by fiat currencies.
But why bitcoin investors are excited about the upcoming third halving?
State-issued currencies rely on tough political and economic processes. Their amount and value depend on the economic growth and stability. This is totally different from Bitcoin, which already has an amount and inflation supply schedule that is definite and fixed.
The prearranged number and schedule of BTC in the market is the unique factor of Bitcoins. This makes BTC technically scarce. Its current price and function influence its market value. Though the amount of BTC entering the system will be reduced, the demand might possibly stay the same or even higher, thus resulting in the probability of a BTC price increase. There is also the possibility of new market entrants, which might create more demand for buying BTC.
No one knows what’s about to happen after the third Bitcoin halving. As the event draws closer, BTC might be more scarce. The value of BTC is volatile around and after the Bitcoin halving. A price increase after the halving is also not a total conclusion, though the previous two halving in 2012 and 2016 proved to have a significant increase in BTC prices.
There are a lot of speculations on how this third halving would affect the BTC price as many believe that this upcoming event will still lead to an eventual increase in BTC. Thus, more earnings for its users. Another way users can earn BTC is through the Swipe Visa card rewards program available for users across Europe.
Stay up-to-date with all the latest news from Swipe
Telegram: https://t.me/SwipeWallet & https://t.me/Swipe
Well, it’s supposed to be an optimistic article about most promising mining cryptos, but then something happened. No one was too naive to believe that the events unfolded around the COVID-19 pandemic will not affect global markets, but the turbulence that occurred was very significant and, what is most sad, it is still very difficult to say how soon the situation will stabilize.submitted by Stealthex_io to StealthEX [link] [comments]
Many people were already bothered that crypto mining is becoming less profitable in 2020 and will be meaningless very soon, but even though big companies having bigger resources took over most of the industry, cryptocurrency mining using video cards remains available to common users and still has potential.
Despite, the volatility of the cryptocurrency market hashrate of the Bitcoin blockchain network yet remains almost at the same level and that is a quite positive sign. At the moment, the most reliable option seems to be to leave mining to large ASIC-farms and return when the stock panic subsides and the prospects will be clearer.
Although Bitcoin is still the most popular cryptocurrency on the market, every year the complexity of operations necessary for its production increases, and rewards fall (after halving in May 2020, we will talk about 6.25 BTC per block). For mining many altcoins, the threshold for entry is much lower, therefore it makes sense to look for a more profitable option among them.
But first, let’s try to understand a little what conditions we need for profitable mining.
There are several crucial aspects that determine how profitable mining will be. These are such obvious things as the price of the currency or the amount of reward for the generated block.
And this is the reason it is now very difficult to calculate the possible income. One way or another, the market price of altcoins depends on the position of bitcoin, which is experiencing bad times. For several months, the world of crypto mining has been preparing for the May halving, because the reduced supply led to a significant increase in prices. This time should not have been an exception, but now when bitcoin does not rise above $5500 and risks falling below $3500, we can only make vague guesses about its potential price in May. Many analysts tend to believe that closer to the middle of April, the negative effect of the crisis should be reduced, and positive expectations from halving and a large amount of cash from investors should have a positive impact on the price of bitcoin. Altcoins, as a rule, repeat the dynamics of the first cryptocurrency and will also continue their growth to historical highs in the year’s future.
Next, you should also pay attention to the complexity of mining because it affects the time and energy spent on generating the block. Do not forget about the cost of electricity in your region, as one extra-large bill can negate all your efforts to earn money on currency mining.
Do not forget about expenses on a mining rig and it’s amortisation.
In addition to the above, you should find out how practical the chosen currency is: whether it can be exchanged for fiat or more popular coins, what fees are charged by exchanges that work with it, and what reputation it has in general.
In order to avoid unpleasant mistakes, it is easier and more reliable to check the possible profit in one of the many calculators.
Best altcoins to mine in 2020Monero is the currency with the highest anonymity rates, which stays attractive to many users and remains one of the strongest altcoins. The specific proof-of-work hashing algorithm does not allow ASIC-miners, so it is relatively easy to mine using personal computer’s processors and graphics cards. AMD graphic cards are preferable for this task, but NVidia suits as well. The current block reward is 2.47 XMR.
Litecoin is one of the oldest Bitcoin forks, but unlike it uses a different “Script” PoW algorithm which allows less powerful GPUs to mine coins. Litecoin is on the most popular, and successful Bitcoin forks and considered one of the most stable cryptocurrencies. Block mining reward is 12.5 LTC.
Ravencoin is another Bitcoin hardfork, and like Monero’s its X16R algorithm is practically unavailable for ASIC machines. Raven keeps gaining popularity for many reasons – it has faster block time, higher mining reward (5,000 RVN at the moment) and secure messaging system.
Dogecoin is not a joke anymore. Hard to believe, but this currency once made for fun, became one of the most valuable ones. Like Litecoin it uses Scrypt algorithm and great for mining with GPUs.
One more Bitcoin fork Bitcoin Gold was made specifically to kick out ASICs and clear the road for GPUs. It may not be the fastest-growing currency, but it is definitely one of the most stable.
That’s all for today. Stay safe, cause health is our most important asset.
Follow us on Medium, Twitter, Facebook, and Reddit to get StealthEX.io updates and the latest news about the crypto world. For all requests message us via [[email protected]](mailto:[email protected])
Written by the CoinEx Institution, this series of jocular and easy to understand articles will show you everything you need to know about major cryptocurrencies, making you fully prepared before jumping into crypto!submitted by CoinExcom to Coinex [link] [comments]
If you are not in the cryptocurrency field, “BTC” may be a stranger to you, but not the Bitcoin. BTC is the abbreviation for Bitcoin. In addition, it has another name: XBT.
Speaking of BTC, we have to mention one name, Satoshi Nakamoto, father of BTC. His story started from 2008 when a financial crisis broke out across the world, which laid a foundation for the birth of BTC.
On November 1 that year, a person claiming to be Satoshi Nakamoto published the BTC White Paper titled “BTC: A Peer-to-Peer Electronic Cash System” on a P2P foundation website, marking the birth of BTC. Two months later, on January 3, 2009, the BTC genesis block was created. BTC got rid of the constraints of third-party institutions by distributed ledgers, which Nakamoto called the “blockchain.” If users are prepared to dedicate their CPU hashrate to run a special software, they can become a “miner”. While mining new BTC, the miners also set up a network to maintain the blockchain together.
At the time, BTC was considered as a virtual commodity, not a currency, by some countries, banks and government agencies. It wasn’t until one day a man bought two pizzas for the 10,000 BTC he had mined that BTC had its value (What a losing business).
After that, there are ups and downs of the BTC market, but the identity of Nakamoto, has always remained a mystery. Some say he’s from the National Security Agency, and some say he’s a financial expert. But still, he is nowhere to find, and nobody knows anything about him.
The wonderful part of BTC lies in the fact that it is something anyone can mine! But if you think you can mine as many BTC as you want, think twice. To avoid inflation, the upper limit for the number of BTC was set at 21 million. Without relying on the central authority, BTC is issued by the blockchain. Assets and transactions are secured by the digital encryption algorithms and the entire network to resist 51% hashrate attacks. Transaction records are collected and maintained by all computers on the network, and the validity of each transaction must be confirmed by blockchain inspection.
People say, having been widely recognized and used, the BTC technology presents all mankind with an era of blockchain. As the king of cryptocurrency, what makes BTC so special?
BTC is the first distributed cryptocurrency. The entire network consists of users and there is no central bank. Decentralization guarantees the security and freedom of BTC.
BTC can be managed on any computer connected to the Internet. No matter where you are, you can mine, buy, sell or receive it. That is exactly what makes it a magnet for a lot of miners and users.
3. Exclusive ownership
Controlling your BTC requires your private key, which can be isolated and stored on any storage medium, and no one can get it except yourself. That experience makes you feel so special and secured.
4.Low transaction fees and no hidden costs
The BTC network will charge a certain fee for each transaction to ensure faster transaction execution. In addition, as an A-to-B payment method, BTC does not have tedious procedures or limits, and users only need to provide a BTC address to make payment. How convenient!
5. Cross-platform mining
Bitcoin is definitely a passion for geeks! Miners can discover the hashrate of different hardware on many platforms. BTC mining can be both profitable and fun.
Today the circulating market value of BTC has reached 1.32 trillion, and the reward is halved about every 4 years. In May 2020 we will usher in the third halving of Bitcoin, with a block height of 630,000, and the reward will be directly reduced from 12.5 BTC to 6.25 BTC. By 2140, there will be no more new Bitcoin generated in the world, and the number of Bitcoin in circulation will not exceed 21 million.
If you want to enter the cryptocurrency field, you might as well start by buying BTC. It may present a new door to wealth in front of you, and the key to this door lies in CoinEx. Come on, learn more and trade! https://www.coinex.com/
[Of course, that scene finishes with knocking out the "recovering" patient so he can be taken away...not to mention the absurdity of including Monty Python in a financial article, but moving right along.]
I am not providing financial advice and I do not make any recommendations of any sort on any matters. Make your own decisions; do your own research. Please, I do not want to hear about anyone doing anything "on my advice." I am not offering advice.And I'll reiterate that I own about 30% [g] of the current supply of NYAN, which makes me by definition maximally biased.
By definition, we can say that it’s a programmatic reduction in the number of Bitcoins that are being mined and brought into circulation. Each Bitcoin mining reward is halved about every four years to control the circulating supply being released into the market. How long does it take for Bitcoin to be halved? Since 6 blocks are found on average within an hour and halving happens once every 210,000 blocks, then every 4 years (give or take) there will be a halving event. This basically means that the mining reward will be reduced by 50% from what it used to be. For example, if today each miner receives 6 ... Bitcoin successfully halved its mining reward—from 12.5 to 6.25—for the third time on May 11th, 2020. This system will continue until around 2140. At that point, miners will be ... What are bitcoin mining rewards? As mentioned, miners who solve puzzles on the blockchain receive a bitcoin mining reward. Bitcoinmining.com states that bitcoin’s creator, Satoshi Makamoto ... Bitcoin halving will be one of the most prominent cryptocurrency-related events of 2020. When it happens, the difficulty of BTC mining will increase and block reward will reduce by half. This article explains what Bitcoin halving is and how it affects BTC price in the short and long run. Read it to know what to expect!
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Cloud Mining Make your account and start earning free bitcoins from our cloud mining platform. Get Started With Bitcoin Start learning about Bitcoin with interactive tutorials. It’s fun, easy ... Bitcoin Halving Price Prediction May 2020 - Bitcoin halving is an event where the block reward for mining new bitcoin is halved, meaning that bitcoin miners will receive 50% less bitcoin for every... Now the 12.5 Bitcoin block reward is once again, being halved and will now reduce to 6.25 Bitcoins per block. This reduces the daily issuance of BTC Bitcoins from 1,800 Bitcoin mined or created ... He explains that the amount of Bitcoin rewarded for mining is halved every four years which means that it will be less profitable. "So as we look into the future the reward of new Bitcoins is ... Here is the Answer - Bitcoin Halving is the phenomenon by which the miner reward keep on halving, or decrease by 50% after every four years, which happens after mining 210,000 blocks – roughly ...