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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
Second-Largest US Mortgage Lender UWM Plans to Accept Bitcoin Payments
United Wholesale Mortgage (UWM), America's second largest mortgage lender, reportedly plans to accept cryptocurrency payments later this year in an apparent first for the U.S. mortgage industry. "The Hash" team discusses the pros and cons of paying down a mortgage with crypto, and the possible use cases of bitcoin as collateral for mortgages and loans.
Top NBA Draft Pick Cade Cunningham Signs Sponsorship Deal With BlockFi
Former Oklahoma State star Cade Cunningham signed a multi-year sponsorship deal with crypto lending firm BlockFi that will see the up-and-coming Pistons point guard receive his signing bonus in bitcoin. "The Hash" squad discusses the industry implications for the ongoing trend of top-drafted athletes forging early-career within the digital assets industry.
Messari CEO Ryan Selkis on Bitcoin, Stablecoins and Crypto Regulation
Bitcoin is down about 1.3% over the past 24 hours. The next support is seen at the $42,000 breakout level, which could stabilize the pullback. Messari Founder and CEO Ryan Selkis discusses his positive analysis and outlook for bitcoin, explaining why he’s a “perma-bull.”
Is Bitcoin's Pullback Temporary?
Bitcoin is pulling back after a near 13% rally month to date, but is it just temporary? Alexandre Lores, an analyst at Quantum Economics, discusses why he doesn't think bitcoin is due for lower lows and remains "bullish on the near term." Plus, his take on the potential catalyst behind the recent price surge.
Bitcoin Lightning Network Growth Passes New Milestones
The Lightning Network, a layer 2 payments solution built on top of the Bitcoin blockchain that enables secure, private and near-instantaneous transactions at little to no cost, has surpassed 25,000 active nodes for the first time. This indicates the network is growing stronger with more nodes and channels.
Lightning Network Nodes Surpass 25K for First Time Ever
CoinDesk's Galen Moore discusses his assessment of skyrocketing activity on Bitcoin's Lightning Network as it surpassed 25,000 active nodes for the first time. "The supply is up, for sure, but is the demand up?" Moore asked. Plus, his take on emerging markets taking on crypto as reported in Chainalysis' 2021 global crypto adoption index.
Minneapolis Fed President Kashkari on Crypto Market: ‘Thousands of Garbage Coins’
CoinDesk’s Nikhilesh De discusses what to make of Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, criticizing bitcoin and cryptocurrency in general. “It’s just a signal of how much the central bank is paying attention to the industry,” De said.
Bitcoin Holds Support Near $43K as Rally Pauses
Michele Schneider, Managing Director at Marketgauge Group, discusses her analysis and outlook for bitcoin as buyers are taking a breather after a near 13% rally month to date. Plus, her take on whale buying, altcoins, and the potential impact of the $1 trillion bipartisan infrastructure bill on the crypto markets.
Key Advisors Group Partner: ‘Bitcoin Has Tremendous Potential Upside’
Eddie Ghabour, co-owner and managing partner at financial planning firm Key Advisors Group, discusses his bullish outlook for bitcoin despite appearing to be stuck in a sideways range. “There is tremendous potential upside here where we are right now,” Ghabour said. Plus, his advice for investors looking to buy cryptocurrencies.
Bitcoin Showing Signs of ‘Short-Term Fatigue’ Near $50K
Bitcoin reveals signs of short-term fatigue near the $50,000 level and is also beginning to flag signs of profit-taking in the short term. Still, BTC is up about 60% year-to-date, thanks to a strong shilling by bullish traders throughout the first half of August.