Archive for the ‘Bitcoin’ Category

Watch these Bitcoin price levels next as BTC dips 3% in choppy weekend – Cointelegraph

Bitcoin (BTC) saw fresh volatility on May 6 as low-liquidity weekend trading tested the mettle of its trading range.

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping by over $1,000, or 3%, in a matter of hours on the day.

The largest cryptocurrency saw volatile conditions typical of weekend trading but could not exit a broader corridor in place for several weeks.

Amid a lack of ammunition to either clear the $30,000 resistance or drop toward key trend lines near $25,000, BTC/USD frustrated market participants.

Bitcoin really is in limbo right now and doesnt know what to do .. I am back out of a position and just waiting again for one side of this range to break to re enter, popular trader Crypto Tony told Twitter followers.

An accompanying chart showed potential targets in the event of a bearish breakdown.

An additional analysis released earlier in the day repeated previous predictions of $32,000 coming into play should bullish momentum return.

In separate coverage, fellow trader CryptoBullet described the days losses as nothing special.

Final dip before the breakout, part of the commentary argued, with a chart presenting BTC/USD in a narrowing wedge with a decision on exit trajectory due.

As ever, longer timeframes were a cause for more optimistic views.

Related:Bitcoin trader eyes $63K BTC price for new Bollinger Bands breakout

Analyzing the weekly chart, analyst Gert van Lagen flagged the 200-week simple moving average (SMA) as the resistance line to clear next, with Bitcoin possibly completing a bullish inverse head and shoulders chart pattern.

Trader and investor CryptoAce highlighted a large weekly resistance zone for bulls to tackle.

Stay below and $24k is where price will be trading in some weeks imo, part of an update on trading activity read on the day.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Watch these Bitcoin price levels next as BTC dips 3% in choppy weekend - Cointelegraph

Jack Dorsey Donates $10 Million To Turn Bitcoin Into ‘The Native … – Forbes

Jack Dorsey speaks at an event he co-organized in Costa Rica with Alex McShane (center) to meet with other users of the Nostr decentralized social media platform.

Twitter co-founder Jack Dorsey is proving just how serious he is about bitcoin and the future of social networks with a $10 million donation to the non-profit OpenSats, which says it will use 100% of the funds for both purposes, without taking a cut for itself.

Dorsey announced the donation$5 million of which is set aside to fund development of a social protocol called Nostron Nostr itself earlier today. After being quietly developed by a pseudonymous creator known only as @Fiatjaf, the network, or protocol as it is more properly called, has exploded to 16 million users, 500,000 of which are daily when they created a way for software developers to integrate bitcoin payments into their applications.

Prior to leaving Twitter in May 2022, Dorsey had conceived of and invested $13 million into a similar open-source social protocol that would let users move their profiles between competitors, now being developed by a team called Bluesky. Though hed previously given @FiatJaf 14 bitcoin worth a little over $200,000 at the time it was donated, this latest infusion will level the playing field and reduce any sense that hes picking favorites in his mission to out-compete Twitter. While OpenSats didnt respond to Forbes requests for comment, Dorsey responded with Morse code to our question on Nostr asking him what he hoped OpenSats would be able to accomplish with the money?

Jack Dorsey's reply in Morse code to Forbes senior editor Michael del Castillo's request for comment.

Weve translated his reply below. That bitcoin becomes the native currency of the internet, and the internet gets a native protocol for social media. He did not answer our question as to whether or not he plans to write off the donation.

The Raleigh, North Carolina-based OpenSats received its 501 c (3) non-profit status in 2021, according to non-profit data site Charity Navigator. Most of the data about non-profits that Charity Navigator offers, such as how much of historical donations have been used for the non-profits actual mission compared to the cost of running the organization, are unavailable, as the OpenSats filed reduced paperwork required for organizations with less than $200,000 of annual revenue.

As part of Dorseys donation, OpenSats says @Fiatjaf and another Nostr user using the pseudonym NVK will join a committee to help evaluate projects, according to a statement released by the non-profit. NVK and a user identified as Gigi are joining the board. We believe that free software and open protocols are necessary for a free and prosperous society, according to the statement. Without software that protects the individual user's rights and freedoms, and without digital infrastructure that is open to all, modern society risks slipping further into digital totalitarianism.

Related reading:

Jack Dorsey-Backed Decentralized Twitter Rival Prepares To Launch With One Million Users

Jack Dorseys Former Boss Is Building A Decentralized Twitter

The OpenSats website says the organizations mission is to support and maintain a sustainable ecosystem of funding for free and open source projects and contributors, especially Bitcoin BTC related projects and projects which help Bitcoin flourishOpenSats will fund software developers, but also designers, reviewers, researchers, educators, and others who support these free and open source tools.

The organization has previously funded 21 teams, including the Bitcoin Policy Institute, which just hosted an invitation-only event in Washington that touted attendees from Capitol Hill, BTCPay Server, a payment processor hosted by the people who use it, and the Tor Project that develops the Tor browser used by the governments and criminals alike to protect their anonymity. Funds include an operations budget to help run the non-profit and a legal defense fund to help open-source developers in court. Its unclear if this is the same fund Dorsey said he would create to help pay legal expenses of bitcoin developers being sued for their work.

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Jack Dorsey Donates $10 Million To Turn Bitcoin Into 'The Native ... - Forbes

Argentina Bans Payment Apps From Offering Bitcoin to Customers – Decrypt

Argentinas central bank is clamping down on crypto. In a statement yesterday, the bank said that payment platforms are now banned from offering digital assets like Bitcoin to customers.

The Central Bank of the Argentine Republic (BCRA) said that the reason was to mitigate risks.

A number of popular companiesincluding fintech giant Ual and online marketplace Mercado Libreoffer clients crypto trading.

Payment service providers that offer payment accounts may not carry out or facilitate transactions with digital assets, including cryptoassets, that are not regulated by the competent national authority and authorized by the Central Bank of the Argentine Republic (BCRA) to their customers, the Thursday statement said.

The bank did not expand on why, other than to protect customers, in the announcement.

It now means that major platforms, including Mercado Libre, Latin Americas answer to Amazon, will no longer be able to offer Argentinians Bitcoin buying services.

ArgentinaLatin Americas third largest economyright now suffers from one of the worst inflation rates in the world: It soared past 100% last month for the first time in three decades.

A number of crypto startups in the country and even one popular presidential candidate have preached the use of Bitcoin as a savior for ordinary Argentinians who cannot save or are being pushed into poverty because of the collapse of the peso.

Although cryptocurrencies arent regulated in the South American nation, they are becoming popular. Blockchain data firm Chainalysis has said Argentina is one of the fastest-growing cryptocurrency markets; last year it ranked it at number 13 in its 2022 Global Crypto Adoption Index.

Buenos Aires, the countrys capital, last year hosted the major LaBitConf event where a number of cryptocurrency bigwigsincluding MicroStrategy boss Michael Saylor and Ethereum co-founder Vitalik Buterinspoke about Argentinas growing role in the crypto ecosystem.

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Argentina Bans Payment Apps From Offering Bitcoin to Customers - Decrypt

Move Over Bitcoin (BTC) And Binance Coin (BNB) – Sparklo (SPRK) Is Where The Money Is | Bitcoinist.com – Bitcoinist

Bitcoin (BTC) and Binance Coin (BNB) have long been known for their strong fundamentals and reliable performance in cryptocurrency. However, many analysts believe these cryptos will likely see insignificant gains with their current market caps.

This has prompted investors, particularly those with limited capital, to shift their attention towards newer and more promising cryptocurrencies, such as the highly hyped Sparklo, which is currently in presale.

With the potential for explosive growth and impressive returns, its easy to see why so many investors rush to get in on the action on Sparklo (SPRK).

The Sparklo (SPRK) presale has investors buzzing with excitement as demand skyrockets. With only a few days left before the first stage of the presale ends, investors are rushing in to get in on the action.

The recent surge in price from $0.015 to $0.017 on the last day of April 2023 is just a small indication of the great potential that Sparklo (SPRK) holds. In fact, some analysts are projecting that Sparklo (SPRK) could experience a 4,000X increase in value.

Whats more, the unique use case of Sparklo (SPRK) is a major contributor to its momentum. The platform aims to offer fractional ownership of precious metals such as gold, platinum, and silver, thereby providing unique investment opportunities.

Additionally, Sparklo (SPRK) is known for its high level of transparency and security thanks to InterFis audit of the smart contract and the 100-year liquidity lock. Its easy to see why investors are eager to participate in this exciting project.

>>>> BUY SPARKLO TOKENS <<<

Bitcoin (BTC) has experienced a sharp rise in popularity and value in recent years. However, as the market continues to mature and evolve, Bitcoin (BTC) is moving in the overall direction of traditional stock markets, particularly the S&P 500.

While Bitcoin (BTC) remains a strong asset, this shift in trend means that it may not be able to deliver the impressive results it has in the past. Instead, many analysts predict that lower-cap cryptocurrencies like Sparklo (SPRK) may be better poised to outperform Bitcoin (BTC).

As the market landscape evolves, seeing how Bitcoin (BTC) performs relative to new entrants like Sparklo (SPRK) in the long run will be interesting.

Binance Coin (BNB) has become one of the most established cryptocurrencies in the market. Despite Binance Coin (BNB)s impressive market cap, many analysts are projecting modest returns for the popular exchange token in the long run.

The lowered expectation on Binance Coin (BNB) could be attributed to a growing perception of risk on exchange tokens, as illustrated by the recent controversy surrounding FTX. Nevertheless, Binance Coin (BNB) remains one of the go-to options for cryptocurrency enthusiasts.

As a symbol of the power and influence of the crypto industry, Binance Coin (BNB) represents an exciting investment opportunity worth keeping an eye on. However, analysts expect new cryptos like Sparklo (SPRK) to outperform Binance Coin (BNB).

Buy Presale: https://invest.sparklo.financeWebsite: https://sparklo.financeTwitter: https://twitter.com/sparklo_financeTelegram: https://t.me/sparklofinance

Disclaimer:This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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Move Over Bitcoin (BTC) And Binance Coin (BNB) - Sparklo (SPRK) Is Where The Money Is | Bitcoinist.com - Bitcoinist

Developer Inserts ‘Bug’ in Bitcoin OrdinalsHow Bad Is It? – Decrypt

Theres fresh controversy brewing in the Bitcoin Ordinals community after a developer under the moniker Supertestnet initiated a transaction that had no input or output, but is nevertheless seen as valid.

This resulted in the Ordinalss inscription numbering system crashing, sparking concerns that the whole protocol may now be broken.

Ordinal inscriptions, also known as "proof of ownership" inscriptions, are essentially a way of attaching metadata to a specific Bitcoin transaction.

This metadata can include information about the digital asset being transferred, such as its title, description, and ownership details. So far, it's also been used for a wide array of on-chain media inscriptions including artwork, profile pictures, playable games, and video-based web apps.

Unlike Ethereum-based NFTs, which require the use of a separate token and smart contract to record ownership and transfer of digital assets, Ordinal inscriptions are recorded directly on the Bitcoin blockchain without the need for a sidechain or separate token.

The transaction in question, which did not include any satoshis (smallest unit of BTC), was found in block 788200.

[The Ordinals protocol] validated the inscription (3492721) attached to the input, which sounds like a bug, Ludo Galabru, staff engineer at Hiro Systems commented on the issue on GitHub. Philosophically, the satoshi inscribed was transferred to the miner as a transaction fee, but was nevertheless inscribed by its previous owner.

The Ordinals creator Casey Rodarmor agreed that it shouldn't be possible to inscribe sats that you don't own, suggesting the transaction is indeed a bug.

However, fixing the bug by making [the Ordinals protocol] ignore this inscription would change inscription numbers after the curious transaction. I'm honestly not sure what to do! added Rodarmor soon after the issue was found.

But is there an actual danger for the Ordinals protocol?

According to Danny Diekroeger, founder of Bitcoin Lightning platform Deezy, the bug doesnt pose any risk to the Ordinals protocol itself.

Personally, I think this is totally fine. In fact, I think inscription numbers were broken already early on anyway, Diekroeger tweeted on Friday.

Supertestnet agreed that theres no immediate danger to the protocol itself, although he is not sure not sure what long-term consequences will be.

The short-term consequence was that the guys who were running indexing software had to fix the bug, Supertestnet told Decrypt.

What actually happened and what prompted the Austin-based developer to run such an experiment, which Diekroeger described as the first valiant attack on ordinal inscriptions?

According to Supertestnet, it all started during a recent conference in Austin, where a hackathon was held and people were supposed to be coming up with projects, and the idea was born to try to make some weird thing in Bitcoin and create a transaction that sends somebody zero Satoshis.

No one at the conference wanted to do that project, so I did something else. But afterward, I tried it and created one of these weird transactions and broadcasted it to a miner who mined it for me, Supertestnet told Decrypt.

Calling himself the breaker of jpegs, Supertestnet not only inserted this bug into Ordinal explorers but also created a tool that lets other users increase the attack.

Yet, he also admitted that its not entirely clear to me exactly what's happening right now.

Normally, when you create an inscription, you have to create a Bitcoin address that has some satoshis in it. And then you create an image that the software assigns to one of the satoshis in your Bitcoin address. But my Bitcoin address had zero satoshis in it. So it seems that it assigned it a negative number, which is weird by itself, explained Supertestnet.

Despite that, when the software encountered this negative number it appears to have tried to give this inscription a number.

It took that and then either made it the first satoshi in the block, which then belongs to the miner, or it put it in the previous transactions transaction fee, which then went to the miner. Either way, it definitely went to the miner like that's the inscription," Supertestnet said. "But that's not supposed to happen. You're not supposed to be able to inscribe somebody else's satoshis without their consent. So that's like a bug."

Things are a little more complicated for Ordinals explorers, according to the developer, because all the numbers after his inscription are off by one.

If they decide to fix that, they will have to undo all the numbers that have been issued since then, like decrementing them all by one or by however many they're off by one now. But they might not fix it, or they may fix it for the future but all the previous ones are going to remain like they are.

I don't know what they'll do, maybe theyll decide that its not important anymore and that its not the bug but a feature, added Supertestnet.

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Developer Inserts 'Bug' in Bitcoin OrdinalsHow Bad Is It? - Decrypt