What Could Utreexo Mean For Bitcoin? – Bitcoin Magazine

Listen To This Episode: On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors are once again joined by Ruben Somsen. But this time, the trio isn’t discussing one of Somsen’s own proposals but diving into a concept from research scientist and Lightning Network creator Tadge Dryja called “Utreexo.” Whenever a new Bitcoin transaction is made, Bitcoin nodes use a UTXO set (the overview of all bitcoin in existence at any given time) to determine that the coins that are being spent really exist. This UTXO set is currently…

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Impending pennant breakout sets Bitcoin price back on the path to $14,000

As the weekend approaches, Bitcoin (BTC) price appears set to close out the month with a remarkably strong performance which has many bulls calling for a new all-time high above $20,000 in the near future.  Traders attribute these lofty estimates to the fact that BTC appears to have flipped $12,000 to $12,500 to support and barring some unexpected price implosion, Bitcoin is on the path to painting a beautiful monthly candle. Crypto market weekly price chart. Source: Coin360 Further ‘bullish’ evidence comes from today’s options and futures expiry which saw…

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Nearly 24% of Ether held on exchanges — Three times the percentage of Bitcoin

Almost one-quarter of Ether’s (ETH) circulating supply is held on cryptocurrency exchanges, according to analytics platform ViewBase. The website shows that 26,768,260 ETH is on exchanges, equating to 23.6% with a value of $10.3 billion. Almost 26 million of these tokens are held by 10 centralized exchanges, with Coinbase alone sitting on 8,521,807 ETH — 7.5% of the supply. Ether is miles ahead of Bitcoin (BTC) in terms of the percentage of tokens held on exchanges. Bitcoin has 8.1% of its circulating supply held on exchanges. Earlier this month, Cryptocurrency statistician…

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Microstrategy CEO Personally Owns $240 Million in Bitcoin — Company’s BTC Profit Eclipses Other Earnings

Following a $425 million bitcoin purchase by his billion-dollar company, Microstrategy CEO Michael Saylor reveals that he personally owns about $240 million in bitcoin. Meanwhile, his company’s bitcoin gains have outperformed the company’s other earnings. Microstrategy and Its CEO Are Both Bitcoin Hodlers The CEO of the billion-dollar company Microstrategy, Michael Saylor, has revealed his own bitcoin holdings. His company, Microstrategy, recently bought $425 million in bitcoin as its primary Treasury reserve asset. Saylor, who has been outspoken about bitcoin ever since his company decided to make the cryptocurrency its…

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Trump or Biden? Bitcoin wins regardless of US election — Barry Silbert

Whether it is a Democratic sweep led by Joe Biden or a Donald Trump reelection, Bitcoin (BTC) would likely thrive. Industry executives, including DCG and Grayscale CEO Barry Silbert, say both a Trump or a Biden win would buoy BTC. The optimistic stance of industry execs despite the glaring election risk comes after Grayscale’s Bitcoin study. Trump wins = brrr Biden wins = brrr Either way, bitcoin wins — Barry Silbert (@BarrySilbert) October 28, 2020 Grayscale, a major cryptocurrency investment firm with $7.6 billion in net assets under management, released…

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Bitcoin Price Hits Highs Around World – Bitcoin Magazine

This article also appeared in our Down The Rabbit Hole newsletter. If you want our news and analysis straight to your inbox, make sure you subscribe now! One bitcoin will always be worth 1 bitcoin, but its price relative to fiat currencies is an important indicator of how much people around the world value the opportunity to opt out of their legacy systems and begin transacting and storing value in a permissionless alternative. As the price of BTC rises relative to dollars, yen or rubles, it’s clear that the people living…

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‘David Hasselhoff Invented Bitcoin’ – 9 Celebrities Wish Bitcoin a Happy Birthday

Ahead of the 12th anniversary of the Bitcoin white paper, a large group of celebrities published cameo videos saying “happy birthday” to the world’s first cryptocurrency. A number of popular stars appear in the videos including Charlie Sheen, David Hasselhoff, Carole Baskin, Gilbert Gottfried, and more. On Halloween, this Saturday, October 31, a great number of cryptocurrency advocates will be celebrating the day Satoshi Nakamoto published the Bitcoin white paper. Satoshi Nakamoto published the paper, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” on the website metzdowd.com on the cryptography mailing…

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Avanti Bank Launches – Bitcoin Magazine

Avanti Bank & Trust has been granted a bank charter by the Wyoming State Banking Board today following a unanimous vote, per an announcement from the company. “Avanti’s mission is to provide a compliant bridge between the traditional and digital asset financial systems, with the strictest level of institutional custody standards,” said Caitlin Long, Avanti’s founder and chief executive officer who has led blockchain advocacy efforts in Wyoming, in the announcement. “We will provide products and services that do not exist in the market today. Currently the only type of…

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After Praising Bitcoin, JPMorgan Pushes JPM Coin, Sets Up Dedicated Crypto Unit

JPMorgan Chase has revealed that its own JPM Coin is now being used commercially by a large tech company. The company has set up a dedicated crypto business unit with a focus on cross-border payments. This news follows a group of JPMorgan analysts praising bitcoin as an alternative investment to gold. JPMorgan’s Crypto Now Used Commercially Global investment bank and financial services company JPMorgan Chase has set up a dedicated crypto business unit called Onyx with more than 100 staffers, CNBC reported Tuesday. Takis Georgakopoulos, JPMorgan’s global head of wholesale…

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Bitcoin fees spike 198% but Ethereum still more profitable

Bitcoin (BTC) transaction fees have nearly tripled in three days, from $3.52 to $10.20 on average. According to crypto market data aggregator Glassnode, 22.25% of Bitcoin miners’ income is currently made up of fees, with the other 77.75% coming from block rewards. The share of fee revenues is currently the highest it has been since the plateau of the last all-time high in January 2018 — which followed fee revenues spiking to almost a 45% share during the previous month. The percentage of #Bitcoin miner revenue from fees increased to…

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