BITCOIN!… Heard of it? it’s one of the biggest cryptocurrencies out there. Each week Ministry of Nodes’ Stephan Livera joins Adrian Franklin to pull apart the latest growth, glitches, and gallantry coming from the Crypto kings of the world!
A new Congress Bill raises questions for Bitcoin miners and Lighting users. As a Darkweb attack sees an ex-police officer head to prison, so what concerns are we facing when it comes to trading the digital coin and what trends will the future hold in relation to privacy and security.
The headline discussion from this week’s “B-word” event saw three high-power individuals come together and discuss Bitcoin for those who are on the fence! Companies are embracing Bitcoin more than ever before as people race to work out the ins and outs of crypto Stephan Livera explains the things to watch out for.
The US Government paying out in Bitcoin?! The future is now. The Bank of America is looking to approve the trading of Bitcoin for some clients, and BitMEX funding Bitcoin development. Specific spaces for selling bitcoin are seeing a reduction in importance as more and more financial entities are seeking to plug into the crypto space and open the floodgates.
Interesting times in Bitcoin land! We find out how a tinder story has opened up a new breed of cyberattack. Bitcoin security is an ongoing headache for many but this story takes the cake. Because Bitcoin is quite young it can be confusing to understand the nuanced levels of attack you may be exposed to.
The largest downrate difficulty adjustment saw to date… what does that mean? Stephan Livara breaks down the ins and outs of Bitcoin networks in relation to Hashrate (Yep he covers Hashrate too), China loosens its grip on the crypto space, a strange move as miners continue to see the potential these networks continue to have.
China cracks down on its crypto trading networks. Location is no longer the name of the game as getting the mining equipment seems to be the latest struggle. Stephan Livera seems positive that it will be short-term pain for a long-term gain.
New proposal: biggest crypto regulation America has ever seen
One US lawmaker has just unveiled his plans to introduce the most sweeping and far-reaching crypto regulation policies America has ever seen
Known as the “Digital Asset Market Structure and Investor Protection Act”, it has been introduced by Democrat Don Beyer.
If passed, the bill will allow the Treasury Secretary to oversee the creation of stablecoins, direct regulators when it comes to decentralised finance and even create a crypto-exchange charter.
Unlike previous attempts to regulate crypto, this bill appears to be fairly wide-ranging and covers a number of issues at one time.
It comes as the US Senate moves to finalise Biden’s $1 trillion infrastructure package which includes provisions that will increase crypto reporting requirements – in a bid to raise around $28 billion in tax.
However, the infrastructure package has a narrow focus on crypto and is far less sweeping than this latest Digital Asset Act.
Law firm Axler Goldich told Coindesk “for a proposed legislation that seemingly came out of nowhere, it is incredibly comprehensive and the authors clearly have an understanding of the underlying technology”.
Beyer’s bill is the second crypto-related legislation to be introduced this week as lawmakers become increasingly focused on regulating the sector.
Britcoin set to make Bitcoin skyrocket
Cash in people’s pockets would be superseded by a new ‘Britcoin’ digital currency in a plan being pushed by Chancellor Rishi Sunak
Britcoin, the Bank of England’s reported digital currency, rather than overtake Bitcoin, will push the cryptocurrency’s price higher, affirms the CEO of one of the world’s largest independent financial advisory, asset manager and fintech organsitions.
The comments from Nigel Green, CEO and founder of deVere Group, come after it was reported that the UK central bank is planning to launch a direct digital equivalent – dubbed ‘Britcoin’ – to physical money.
Mr Green says: “Revealing just how worried they are about the ongoing epic rise and influence of Bitcoin, and other cryptocurrencies, the Bank of England is reportedly set to establish its own digital currency – which they have previously routinely dismissed.
He continues: “It can be expected that Britcoin will push Bitcoin prices higher for three key reasons.
“First, in what will be a masterclass in the law of unintended consequences, by jumping on the bandwagon, central banks are validating the concept of Bitcoin and its inherent values of being digital, global, borderless, quicker and more cost-effective than traditional money.
“By adding further legitimacy to the market, it’s likely that innovation and development will increase, the crypto ecosystem will become even more robust, and the pace of mass adoption will be accelerated.
“Second, whilst Britcoin will have many of the plusses of Bitcoin, it will still be controlled and manipulated by the Bank of England, meaning they can adjust supply and therefore its value. With Bitcoin, there is no single authority and a progressively limited supply.
“Furthermore, in the increasingly digitalised and globalised economy, why would businesses, such as Amazon for example, in the longer-term favour a currency that is digital but not borderless in the same way as cryptocurrencies are?”
“Third, there’s a growing mistrust of the traditional bank system by the younger, ‘digital-native’ generations who are becoming the beneficiaries of the largest transfer of wealth in history as baby boomers pass on their assets.
“They’ve been influenced by the enormous surge in tech as they came into adulthood – which came around the same time as the global financial crash that hit in 2008.
“Britcoin will be controlled by a handful of people from the Bank who have conversations and make decisions behind closed doors.
“Bitcoin is controlled by no one and discussions are held out in the open and decisions are transparent and community-based. Which one do you think is the future of money?”
The UK is not the only country said to be working on plans for digital currencies. China hopes to become the first major central bank to issue a Central Bank Digital Currency (CBDC). The European Central Bank is exploring the launch within the next five years of a digital euro. The U.S. Federal Reserve has said it will not rush any digital dollar. This year will, however, be critical in getting the ball rolling, its chairman Jerome Powell has recently said.
The deVere CEO concludes: “The Bank of England’s reported move to set-up Britcoin highlights that digital currencies are the inevitable future of money.”
Bitcoin on a winning streak after rising above $40k
Crypto investors are keeping a close eye at the recovery of Bitcoin, as the digital coin rises to a new high
The continuing recovery in Bitcoin has put the largest cryptocurrency on course for its longest winning streak this year.
Bitcoin, the world’s biggest crypto, rose as much as 5.8% to top $40,000.
It’s advanced for eight straight days. Other coins including second-ranked Ether, also climbed.
Recent positive comments from billionaire Elon Musk and Ark Investment Management LLC’s Cathie Wood have helped the crypto recover.
However, the currency still has a long way to go before reaching its official all-time high of $64,829.14.
For those who still don’t really know how Bitcoin works:
Bitcoin users send and receive coins over the network by inputting the public-key information attached to each person’s digital wallet.
In order to incentivize the distributed network of people verifying bitcoin transactions (miners), a fee is attached to each transaction. The fee is awarded to whichever miner adds the transaction to a new block. Fees work on a first-price auction system, where the higher the fee attached to the transaction, the more likely a miner will process that transaction first.
A peak at the new Ticker NEWS studio
Why the Nintendo Switch console has let the gaming giant down
Why Disney’s Star Wars hotel is only for the wealthy
What is happening between SHIB and Vitalik? | TICKER VIEWS
Move over Dogecoin, SHIB coin is here
Australia blocks UNESCO from ruling the Great Barrier Reef as “in danger” from climate change
Trending on Ticker
Climate3 days ago
5B : Why this is an answer to the climate crisis
Global Politics3 hours ago
Melbourne enters sixth lockdown as new cases emerge
Global Politics3 days ago
Bipartisan vote means US infrastructure bill is likely to pass
Business3 days ago
US payment giant to buy Afterpay in multi-billion dollar deal
Media3 days ago
Greens Senator calls for inquiry into Sky News Aus for spreading misinformation
Global Politics2 days ago
Biden battles on – Trump Turmoil deepens
Crypto3 days ago
New proposal: biggest crypto regulation America has ever seen
Media3 days ago
Will blockbuster’s revenue rely more on streaming platform release than cinemas?