Tag: Bitcoin - Page 4 - Forex Dominion

PayPal Seeks Blockchain Engineer Amid Rumors of Its Cryptocurrency Adoption

PayPal included blockchain in the Strategic Technology Enabling office. According to anonymous sources, PayPal will offer cryptocurrency trading in the short term. The company PayPal Inc. is looking for an engineer for its blockchain research group, which is part of the Strategic Technology Enabling office. This search coincides with the rumors that this company is about to offer cryptocurrency … Read more

North Korean connection: in the footsteps of major crypto thefts

by rcanessa

Authorities trace the theft and laundering of cryptocurrencies related to North Korea.
The OXT firm performs an analysis of the transactions involved and reveals the laundering methods.

A new report delves into the methods used by hackers affiliated with North Korea to launder stolen cryptocurrencies from their victims, primarily from crypto exchanges.

Based on the analysis of civil lawsuit number 20-606, filed on March 2 before the United States judicial authorities, the OXT firm analyzed the movements and transactions of Bitcoin and other networks, discovering the methods used by cybercriminals to hide their illegitimate transactions in cryptocurrencies.

95% of bitcoin trading volume is concentrated in 4 exchanges

by rcanessa

Tether dominates among stablecoins in terms of bitcoin trading volume.
Coinbase remains the leading cryptocurrency exchange for bitcoin in terms of trading volume.

On June 2 Coin Metrics released a report explaining various relevant facts about bitcoin market volumes.

Given the growing institutional interest in bitcoin, Coin Metrics decided to study the subject from the perspective of an institution that considers entering the market, distribution and size of bitcoin volume in various markets. The data expressed in that report was taken from the bitcoin market records in May 2020.

Difficulty Adjustment After Bitcoin Halving Comes with High Transaction Fees

by rcanessa

Key facts:

The hash rate reduction after halving has congested Bitcoin for the past few days.
On Wednesday May 20 there was a -6% adjustment to the mining difficulty in Bitcoin

One of the first consequences of the third halving in the history of Bitcoin, which occurred just over a week ago, has been the reduction of the hash rate, or accumulated processing power of miners in the BTC network. With that reduction, the network has become congested and, currently, that is clearly reflected in transaction fees that have not been seen for almost a year.

Hackers Demand Cryptocurrencies Not to Reveal Secrets of Donald Trump

by rcanessa

A group of hackers are demanding $42 million in cryptocurrencies or else they will publish sensitive information about the President of the United States, Donald Trump.
The group of hackers known as REvil ransomware stole 1 terabyte in legal secrets from figures in the entertainment industry and has already given some details of their material to demonstrate that their threats are true.
In addition to Trump, names such as Elton John, Robert DeNiro and Madonna are included.

Over the past few months, cryptocurrencies have shown sustained growth. As the price of Bitcoin rises and falls, the number of users who adopt this form of payment or investment is increasing.

Visa applies for patent for a digital currency based on the Ethereum blockchain

by rcanessa

The United States Patent and Trademark Office (USPTO) released a patent application that Visa filed to create a digital currency. The system is described as a method to digitize fiat currencies issued by central banks, through a central computer and with blockchain technology.

The Visa application was originally submitted on November 8, 2018. However, it was made public on May 14, with the authorship of Simon J. Hurry and Alexander Pierre. The document proposes a system run by a central entity computer, which receives requests to generate a digital currency registered on a blockchain. The application includes the serial number and denomination of a fiat currency, for example a banknote or a metal coin.

Bitcoin fell more than USD 2000 in one day: why is it so volatile?

by rcanessa

The cryptocurrency can only become an accepted form of payment if its volatility stabilizes, but that depends on a constant conviction that it represents the future of the money

The volatility of Bitcoin frightens many potential users of the cryptocurrency. This is due to the close relationship between volatility and risk: the higher the level of volatility, the greater the risk associated with the asset. In the same way, however, risk can be a source of attraction: the more volatile the price of an investment, the higher the yield – or loss – that can be obtained from it. These general rules also apply to Bitcoin.

Bitcoin is considerably volatile compared to other assets, but much less volatile than it was before. Over time, fluctuations in the price of the main cryptocurrency have been decreasing in percentage terms. On average, the daily volatility rate (how much the price changes per day) has been mostly below 5% since 2015, compared to an average volatility of 1.2% for gold. In 2016, Bitcoin was less volatile than Twitter shares, and just as volatile as oil.

However, Bitcoin continues to register violent price oscillations. On Wednesday, the cryptocurrency fell USD 2,041 from a daily maximum (and annual peak) of USD 13,880 to USD 11,200, the biggest daily price movement since January 2018.

Expiration of Bitcoin CME futures generate volatility in the markets

by rcanessa

In past periods, the maturity of Bitcoin CME futures resulted in price movements
CME recorded record volumes in the month of May, moving more than 33,000 contracts.

On Friday, May 24, some 2,710 contracts expired for the equivalent of 13,500 bitcoins settled by the CME. The maturity of these futures contracts increased the volatility of prices in the Bitcoin market. Taking as reference the past values, it can be observed that in the days following this type of events, the prices of the cryptocurrency with the highest capitalization in the world begin to move.

Bakkt Bitcoin futures platform will start testing in July

by rcanessa

- The company will offer different types of future contracts in July.
- A go-ahead from customers and regulators could speed up its launch.

The Intercontinental Exchange (ICE) subsidiary, Bakkt, is still in the process of developing its futures platform aimed at institutional capital. Through a post on Medium, the company announced on Monday May 13 the development of user acceptance tests (UAT, for its acronym in English) for bitcoin futures and crypto custody, which are expected to begin in July of this year.

The Atlanta-based company said it is continuing to work in partnership with the Commodity Futures Trading Commission (CFTC) of United States to build a platform that meets customer requirements in terms of clarity and stability, but that also conforms to all standards of US federal regulations. n this sense, the objective is for the Bakkt bitcoin futures to comply with all regulations and at the same time be a really attractive product for institutional investors.

Bitcoin Markets Trend For 2019

by rcanessa

As proven in 2017, Bitcoin markets are overly sensitive in their reactions. In 2017, Bitcoin price soared by 1,800% to peak at over $19,000 and generated a market capitalization of over $250 billion. In contrast to 2017’s movement, the turmoil during 2018 led cryptocurrencies into a great crash. Bitcoin had a total market capitalization of around $65 billion by the end of 2018, reversing 70% of its 2017 market value in a year marked by volatility and higher volumes.

Bitcoin markets started the year on a smooth downwards swing. The hacking of the Japanese exchange Coincheck at the end of January, China’s talks regarding cryptocurrency banning and Facebook’s ban on cryptocurrency and ICO advertisements were some of the factors that added pressure on Bitcoin’s price. Certainly, it has not been a good period for the most famous cryptocurrency and the sector in general.

The US Securities and Exchange Commission (SEC) also had a negative effect on Bitcoin markets after rejecting BTC ETFs. A further drop was seen in September, which is believed to have been caused by a single wallet discharging nearly $1 billion of BTC into the market.

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