Bitcoin

Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.

DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person



Markets

Bitcoin Falls Slightly After Fed Rate Hike

BTC was down about 1% after the U.S. central bank boosted the federal funds rate by 25 basis points. Fed Chair Jerome Powell noted the central bank had omitted language signaling additional rate hikes at upcoming meetings.

Federal Reserve Chairman Jerome Powell (Drew Angerer/Getty Images)

Opinion

Crypto’s Macro Drivers – It’s Not Just About Bitcoin

The macro outlook and why it matters for bitcoin and other crypto assets. An analysis by Noelle Acheson, CoinDesk’s former head of research.

U.S. Federal Reserve Chair Jerome Powell (Federal Reserve via Wikimedia Commons)

Finance

Federal Reserve Raises Fed Funds Rate by 25 Basis Points, Signals Possible Pause

This latest move comes as the U.S. central bank battles stubbornly high inflation while dealing with a string of high-profile bank failures.

Federal Reserve Board Building (AgnosticPreachersKid/Wikimedia)

Markets

First Mover Americas: Bitcoin Layer 2 Stacks Begins May on Top

The latest price moves in crypto markets in context for May 3, 2023.

Policymakers will need to address financial stability risks, JPMorgan said. (Colton Sturgeon/Unsplash)

Markets

Bitcoin, Ether Could Face Risks From Potential Short Squeeze in Dollar Index, QCP Capital Says

A short squeeze refers to a rally stemming from traders squaring off their bearish short positions.

(stevepb/Pixabay)

Tech

Blockstream Developer Neigut Expects ‘Cambrian Explosion’ of Bitcoin Layer 2 Protocols

Bitcoin already has one of the most diverse layer 2 ecosystems of any network, but coming technology upgrades could lead to an acceleration in the blockchain's development, according to Blockstream's Lisa Neigut.

Blockstream's Lisa Neigut speaks at Consensus 2023 in Austin, Texas. (CoinDesk)

Tech

Bitcoin Ordinals Surge to 3M Inscriptions, but Most Are Just Text

Over $8 million in fees have been paid to the network by inscription creators since their inception.

(Ordinals Protocol)

Markets

First Mover Asia: Bitcoin’s Kimchi Premium Has Narrowed, but the Korean Market Is Proving Resilient

ALSO: A crypto markets analyst suggests that the U.S. central bank may not be finished with interest rate hikes, even if it raises the rate on Wednesday as expected.

Busan, South Korea (Getty Images)

Markets

Bitcoin Climbs Above $28.5K as Investors Weigh Fresh Bank Woes, Cool Jobs Data

Ether also rose. Equity markets dropped, including stocks of two regional banks.

Bitcoin price chart. (CoinDesk)

Finance

Balaji Closes Bitcoin Bet With $1.5M in Donations, Including $500K for Bitcoin Core Development

Amid the initial bank failures in the U.S., the tech entrepreneur in mid-March had bet $1 million that bitcoin would hit $1 million within 90 days.

Balaji Srinivasan (onscreen) speaking at Consensus 2023 (Shutterstock/CoinDesk)

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