Despite Hash Rate Drop, Surge In Transaction Fees, Bitcoin Is Resilient

A recent plummet in hash rate and spike in transaction fees has raised some questions about Bitcoin’s resilience. But they shouldn’t. Over the weekend, the Bitcoin hash rate dropped off a cliff, leaving many industry participants wondering what had happened. Over the last couple of days, information and context has been provided by industry experts as to what was behind this steep fall in hash rate. For instance, this Twitter thread by Mustafa Yilham does a great job explaining the current situation. TLDR: A large amount of Bitcoin miners in…

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Interview: Austin Hill On Blockstream, Open Source And Privacy

“The Biz” kicked off its first episode with Austin Hill, former CEO of Zero Knowledge Systems and former CEO of Blockstream. Watch This Episode On YouTube Listen To This Episode: Apple Spotify Google Libsyn Overcast “The Biz” with John Carvalho kicked off its first episode with a bang in a long-form interview with Austin Hill, former CEO of Zero Knowledge Systems and former CEO of Blockstream. Hill shared a detailed history of what it was like to design and launch privacy-centric products in the early days of the internet, including…

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NYDIG Bought The Recent Bitcoin Dip, Indicates Other Institutions Are Doing The Same

Major bitcoin investment manager NYDIG has shared that its desk, other institutions increasingly act on a “buy the dip” mentality. Amid a historic level of liquidation for bitcoin over the weekend, NYDIG, a bitcoin-focused investment manager, worked to acquire more bitcoin, according to a recent email sent to its subscribers. NYDIG’s Global Head of Research Greg Cipolaro explained in the email how it believes “the root cause of the sell-off had to do with investor positioning rather than fundamental news. Simply put, traders were overleveraged and positioned long, resulting in…

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Canada’s DMG Blockchain Acquires 3,600 Bitcoin Mining ASICs

Vancouver-based DMG Blockchain Solutions announced its acquisition of 3,600 bitcoin ASICs, bringing its hash rate capacity to some 500 PH/s. Per a press release, Canada-based DMG Blockchain Solutions Inc. has announced the purchase of 3,600 bitcoin ASIC miners which will help to increase the company’s total bitcoin mining hash rate capacity to over 500 peta hashes per second. According to the announcement, the new purchase of the miners is in line with the company’s ongoing goal of increasing its bitcoin mining capacity. “DMG is regularly evaluating and negotiating with leading…

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Why I Would Not Vote For A Bitcoin Party

The ideals which Bitcoin was founded upon are in direct opposition to those which bind political parties and ideologies. If an election one day comes where an “orange party” is on the ballot, they will not have my vote. The beauty of Bitcoin is that it does not need a formal political party in order to enact change. It will continue to consume monetary energy on its way to becoming the global standard regardless of whether laws are passed to accelerate that adoption. In fact, its ideals reject the entire…

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WeWork To Accept And Transact With Bitcoin

In a company announcement, shared workspace provider WeWork said it will use bitcoin for inbound and outbound transactions. WeWork, a flexible shared workspace provider, has announced that it will integrate bitcoin transactions and hold BTC on its balance sheet through a partnership with cryptocurrency exchange and custody provider Coinbase as well as bitcoin payments processor BitPay. Coinbase also has the distinction of being the first WeWork client to pay its fees in cryptocurrency, per the announcement. “Through BitPay … WeWork will accept bitcoin (BTC) … and several other cryptocurrencies as…

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As The Bitcoin Rally Propels Invictus, ICAP Offers Investors Exposure To Its Success

Promoted: As the world of cryptocurrency is abuzz with skyrocketing prices of bitcoin, Invictus Capital offers investors unique ways of gaining exposure. This is a promoted article provided by Invictus Capital. With the world of cryptocurrency abuzz with skyrocketing prices of bitcoin and other crypto assets, Invictus Capital’s community reward token ICAP — distributed to investors for locking up their fund investments for predetermined periods of time — is offering an alternative way for investors to pad their portfolio and benefit from a new paradigm enabled by blockchain technology where…

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Venmo Customers Can Now Buy, Sell And Hold Bitcoin In App

Venmo has announced that its customers are now able to buy, hold and sell bitcoin directly within the app — but they cannot withdraw it. The popular payments app Venmo has announced that it has launched the ability to buy, sell and hold bitcoin to its more than 70 million customers. “Crypto on Venmo is a new way for the Venmo community to start exploring the world of crypto, within the Venmo environment they trust and rely on as a key component of their everyday financial lives,” said Darrell Esch,…

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Binance Hires Legacy Bank Regulator Brian Brooks

Major bitcoin exchange Binance has hired former U.S. Treasury official Brian Brooks, who oversaw pro-Bitcoin regulation while in office. Binance, one of the world’s biggest bitcoin exchanges, has reportedly hired former Acting Comptroller of the Currency Brian Brooks as the chief executive of its U.S. affiliate Binance.US. Brooks is set to assume the new role beginning May 1. From May 2020 to January 2021, Brooks served in the Donald Trump administration as the lead of the Office of the Comptroller of the Currency (OCC), a branch of the U.S. Department…

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Bitcoin Magazine’s Art Director To Auction Guy Fawkes Painting For Bitcoin

If you’ve ever wanted to own a piece of art crafted by the creative force behind Bitcoin Magazine, here’s your chance. Link To Scarce City Auction Here Although I’ve been working my dream job here at Bitcoin Magazine since September 2017, I have only published one other article. I hope to write more after the conference, but for now, I will use this platform to shamelessly shill the fact that I am auctioning a painting with Scarce.City on April 20, 2021. Scarce City is an amazing new project that has…

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