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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
BTC Pullback: Buy the Dip?
Wave Financial Senior Trader Justin Chuh on bitcoin price’s wild swings and the key levels that option traders are eyeing.
Bitcoin Price Plummets to Lowest Levels Since February Following Elon Musk’s Tweets
Bitcoin slipped to about $42,200 Monday, a 3.5-month low, with recovery momentum remaining limited. “All About Bitcoin” host Christine Lee breaks down the data in today’s Chart of the Day.
The Musk Factor? Twitter Storms Centering Around Tesla’s Bitcoin Holdings Sent Ripple Effects Through The Crypto Community
There was drama in the crypto world over the weekend as Elon Musk hinted Tesla could dump its bitcoin holdings. Though the self-described “Technoking” has since clarified Tesla has not sold any of its bitcoin, the markets are down. “The Hash” panel weighs in on the market reaction.
‘Fear’ Gets the Best of Bitcoin; Youtube Hit ‘Charlie Bit Me’ is Now an NFT; KAWS Launches New Project That Accepts Cryptocurrencies
Bitcoin is tumbling with market sentiment shifting from FOMO to FUD. Singapore-based crypto exchange Bybit spots a rare negative Bitcoin funding rate amidst falling crypto prices, but NFT adoption is holding strong as the 2007 Youtube hit “Charlie Bit Me” gets tokenized on the blockchain.
Elon Musk's Tweets Send Bitcoin Price on Roller Coaster Ride; Opportunity for the Rise of Altcoins?
Bitcoin price plummets after Elon Musk hinted that Tesla may dump its bitcoin holdings. Lindsay Joo of Bitbull Capital weighs in on Musk's motivations and the potential upside opportunity for altcoins.
Bitcoin’s Environmental Challenge: Proof-of-Stake vs. Proof-of-Work
Tesla’s decision to stop accepting bitcoin payments due to environmental concerns has reignited the bitcoin energy debate. Will the proof-of-stake network be better for the planet? John Wu of Ava Labs weighs in on the debate and discusses Avalanche, a proof-of-stake blockchain that Wu sees as a complementary to Ethereum.
There’s Now Almost Zero Correlation Between Dogecoin and Bitcoin
Dogecoin has taken on a life of its own. The memecoin used to be correlated with the price of bitcoin, but data gathered by CoinDesk’s research team shows the correlation between the two cryptocurrencies has dropped to nearly zero. “All About Bitcoin” host Christine Lee breaks it down in the Chart of the Day.
Signs of Institutional Interest Picking Up: Will It Help Boost Bitcoin’s Price in the Short Term?
Are institutions buying the dip, and what’s in store for bitcoin as it attempts a rebound following this week’s drop? “All About Bitcoin’s” Friday panel weighs in on what the markets can expect from bitcoin next week. Plus, an update on the Taproot activation and the latest Craig Wright drama.
Adoption of Privacy Coins Like Monero is Growing
New data by the Crypto Directory shows that merchants' and retailers' adoption of privacy coins like monero continues to grow. "The Hash" panel discusses the role of privacy coins, particularly as blockchain analytics firms like Chainalysis reveal the lack of privacy with traditional cryptocurrencies like bitcoin.
Here's What Inflation Rising Faster Than Expected Means for Bitcoin
Some investors are buying bitcoin as a hedge against inflation, but CoinDesk's Director of Data and Indexes Galen Moore is skeptical. "The idea that somebody is afraid that the dollar is losing its value and therefore is fleeing to the safety of bitcoin is frankly silly," Moore said.