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Open Timestamps: Bitcoin Safety For All Knowledge – Bitcoin Journal

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Pay attention To This Episode:

On this episode of The Van Wirdum Sjorsnado, Aaron and Sjors focus on Open Timestamps, a Bitcoin-based time stamping venture from utilized cryptography advisor and former Bitcoin Core contributor Peter Todd. Open Timestamps leverages the safety of the Bitcoin blockchain to timestamp any kind of information, permitting for irrefutable proof that that knowledge existed at a specific time limit.

Aaron and Sjors clarify that just about any quantity of information can, in actual fact, be timestamped within the Bitcoin blockchain at minimal price as a result of Open Timestamps leverages Merkle timber, the cryptographic trick to combination knowledge right into a single, compact hash. This hash is then included in a Bitcoin transaction, making the entire knowledge aggregated into the hash as immutable as another Bitcoin transaction.

Todd provided an attention-grabbing showcase of Open Timestamps earlier this week, as he proved that the general public key utilized by Google to signal “the e-mail” to Hunter Biden certainly existed in 2016.

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Aaron and Sjors additionally focus on among the different potentialities {that a} time-stamping system like Open Timestamps gives, in addition to its limitations. Lastly, Aaron gives somewhat little bit of context for the historical past of cryptographic time stamping, which was itself referenced within the Bitcoin white paper.

Aaron van Wirdum is enthusiastic about know-how and the way it impacts social and political buildings. He has been masking Bitcoin since 2013, specializing in privateness, scalability and extra. Hodls BTC.

The Biden Impact: Bitcoin Value Plunged $850 Instantly After The Announcement

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The uncertainty appears to have come to an finish: Biden is the brand new president of the USA after profitable the decisive electoral votes of Georgia and Pennsylvania. At this second, Biden has 290 votes out of the 270 wanted to win the presidency, whereas Trump has solely 214. And with solely 34 votes in dispute, the chapter is virtually closed.

Biden vs Trump
Biden vs Trump 2020 elections

Bitcoin’s Promote The Information In Response to Biden Successful

The brand new president was fast to alter his Twitter bio and ship a message to the nation, thanking them for his or her assist, and promising to unite the Not-so-United States:

Celebrations unfold all over the place. Nonetheless, Donald Trump didn’t quit and likewise claimed victory in a tweet. (with capital letters). Yesterday he assured that he would dispute the elections in courtroom for being fraudulent.

The markets are being attentive to this and had been fast to react, particularly Bitcoin, which is already feeling the “Biden Impact” and misplaced $850 proper after Biden’s announcement, as a basic “promote the information” occasion.

Scalpers Had a Arduous Time as Bitcoin Crashed in Hours…

At this time, the story is totally different. Between 5 pm and seven pm UTC, the forex merely plummeted from over $15400 to a present low of $14700 (Binance). It later corrected a little bit to $15000 after which fell to $14555 on the time of writing, as the present each day low.

On the next 4-hour chart, the $14600 – $14700 is marked as a doable robust assist space, which may maintain Bitcoin value.

BTCUSD, 4-hour candles. Image: Tradingview
BTCUSD, 4-hour candles. Picture: Tradingview

 

However Swing Merchants Have Time to Suppose

Charts with candles set to 1-day appear to level to a wholesome correction — even when the autumn was attributable to nervousness as Mati Greenspan points out. Bitcoin has been in a wholesome bullish channel since March 2020, giving confidence in its appreciation with out worry of a doable bubble.

BTCUSD, 1-day candles
BTCUSD, 1-day candles. Picture: Tradingview

 

When it touched $16,000, it not solely broke that channel however introduced different indicators into an overbought zone with the doable hazard of an extra decline.

BTC now returned to the conventional channel, and the indications recovered a little bit. This might level to a normalization of operations within the quick time period. Nonetheless, it implies a considerable threat for scalpers and daytraders with leveraged positions.

How Will Biden Influence the Bitcoin Markets?

It’s nonetheless too early to maneuver items on the chessboard. Earlier than the elections, the final consensus was that an eventual victory for Trump can be good for the markets. On the identical time, Biden wouldn’t be very investor-friendly.

Nonetheless, the now-elected president has introduced his intentions to issue another stimulus plan, which may imply extra market progress.

 

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Breitling Faucets Ethereum to Provide Digital Certificates for Its Luxurious Watches – CoinCheckup Weblog – Cryptocurrency Information, Articles & Assets

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Switzerland-based Breitling is known for its luxurious watches. The celebrated firm is cooperating with blockchain mission Arianee to launch a brand new kind of certificates for its watches. Breitling now offers a novel digital code that verifies the supply of its merchandise.

Arianee is using ERC-721, an Ethereum commonplace for non-fungible tokens. Breitling makes use of this answer for its digital passport. It’s a blockchain-based answer, and it helps Breitling assure the way forward for the passports and shield them in opposition to alteration and manipulation.

When clients buy a watch from Breitling, they are going to obtain a card that may be scanned. Then, they’ll obtain a pockets from Arianee and set up it on their smartphone. Everybody can add their watch to the pockets. Key info like serial quantity and the date of activation might be seen right here – it`s a kind of digital assure.

These sorts of certificates are helpful once you wish to promote your luxurious watch. This characteristic helps you confirm the validity of your watch, and show to potential patrons that it’s not a counterfeit. Each watch proprietor can change the certificates possession and switch possession to a different particular person.

Breitling can connect info in the course of the time, and as an illustration, you’ll be able to have the historical past of the watch’s repairs. This transparency is implausible, and everybody can observe the watch throughout its lifetime.

The certificates are privacy-based, and data like e-mail tackle, cellphone quantity, and different private particulars received`t be launched. The tackle of your pockets is the one factor that’s hooked up to you.

Breitling’s new certificates are simply one of many use instances for non-fungible tokens, as they’ll allow many important use instances within the trade. Dentsu Monitoring is one other group that works with Breitling. This group may also help Breitling to hint its provide chain.

Digital certificates talked about on this article are a artistic method, and signify yet one more use case for blockchain expertise. Counterfeit merchandise are at all times a danger, particularly with regards to luxurious merchandise, and this blockchain-based answer may also help fight counterfeiting. Blockchain can revolutionize provide chain administration and regulation, and it protects the merchandise in opposition to manipulation and alteration.

Many individuals see blockchain as a expertise for Bitcoin, Ethereum, and different cryptocurrencies. Nonetheless, blockchain has numerous functions past simply finance and cash. Blockchain can and has been utilized in totally different fields like medical care, banking, agriculture, schooling, and lots of extra.

MicroStrategy CEO: Bitcoin Is Bringing Again The Thrill Of Saving Cash ⋆ ZyCrypto

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Over the previous couple of years, the crypto business has grown exponentially. There are presently hundreds of crypto initiatives happening. Nonetheless, Bitcoin nonetheless stays the highest coin with the most important market cap. Lots of people love Bitcoin, and for good causes.

For one, Bitcoin is bringing again the tradition of saving. That’s in keeping with Michael Saylor, CEO, and founding father of MicroStrategy. Michael posted a tweet claiming that previous to Bitcoin, the tradition of saving was lifeless due to political interference. Bitcoin is fixing that.

Saving For Future Worth

Bitcoin has gained drastically in worth during the last decade since its introduction. This makes BTC funding one of many smartest methods to save cash that really will increase in worth over time.

Quite the opposite, saving cash in financial institution accounts in fiat kind exposes one to the dangers of inflation that in the end impacts the worth of the fiat foreign money. That’s particularly the case when governments print fiat currencies in giant counts. 

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Inflation has pushed many good individuals into the world of cryptocurrencies, and Bitcoin has gained from the brand new cash influx courtesy of its standing as essentially the most prolific of the cryptocurrencies out there.

People with giant quantities of cash have moved to place their money in BTC to keep away from worth deterioration as a result of inflation. Certainly, Bitcoin has develop into so standard on this sphere that persons are already satisfied that the crypto will someday exchange Gold because the top-most asset revered as a reputable retailer of worth.

Fostering Freedom

Maybe one large level that Michael Saylor sought to make in his tweet is the truth that political interference and paperwork led to the destruction of the saving tradition. The introduction of censorship legal guidelines which have progressively infringed upon the individuals’s freedoms and liberties has performed a serious position in driving away savers. 

However, Bitcoin affords a totally decentralized monetary system whereby no single entity has the facility to place restrictions on or censor anybody else. Bitcoin promotes a uncommon sense of freedom, and that has endeared it to the individuals as a safe technique of saving for the long run with out having to go conform to the more and more faulty conventional system. 


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DISCLAIMER Learn Extra

The views expressed within the article are wholly these of the creator and don’t signify these of, nor ought to they be attributed to, ZyCrypto. This text isn’t meant to present monetary recommendation. Please perform your individual analysis earlier than investing in any of the assorted cryptocurrencies obtainable.


ySqueeze: the hassle that helped to drive Yearn.finance (YFI) 140% larger in 36 hours | CryptoSlate

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Previous to in the present day, Yearn.finance (YFI) was one of many worst-performing cryptocurrencies of the previous two months. It had dropped 80 % from its all-time excessive as a consequence of numerous unhealthy PR occasions, coupled with huge brief exercise from massive traders that noticed a decline coming in DeFi.

The brief exercise was evident as a consequence of on-chain tendencies noticed by analysts within the area.

Some customers had been depositing massive quantities of Wrapped Bitcoin or stablecoins as collateral into Aave, borrowing YFI, then sending these cash to centralized exchanges presumably to be offered. This can be a decentralized low-leverage brief that enables traders with massive quantities of stablecoins and Bitcoin to wager on an asset taking place with out the issues of futures.

Some massive funds within the area had been taking part in these efforts, together with some bigger whales that weren’t tied to any fund or public identification.

With all this being on-chain, many traders took discover of the shorts, much like the Zeus Capital situation.

Squeezing the shorts

After traders within the area started to convey consideration to YFI shorts opened by Aave, members of the DeFi neighborhood collectively to type a gaggle whose title is a cheeky reference of Yearn.finance’s merchandise, that are all preceded with a “y”.

Members of the group, named ySqueeze, embrace fund managers within the area and widespread merchants.

The thought with the group was to convey collectively followers of YFI to collective liquidate those who shorted the cryptocurrency. All eyes had been on one brief particularly, which was poised to be liquidated as soon as Yearn.finance started recovering on Thursday night.

Whereas it isn’t clear what impact the group had on the YFI worth, the squeeze passed off on Friday night in one of many quickest and most surprising strikes within the historical past of the area.

From the lows to the highs of the transfer, YFI gained 140 % — all within the span of 36 hours. On the peak of the squeeze, the coin gained $3,000 within the span of 90 seconds… no joke. The chart below doesn’t present this nicely because it solely depicts the worth of the coin on the finish of a candle, however you get the purpose.

Supply: YFIUSD from TradingView.com

Even after a retracement, YFI continues to be up 60 % prior to now day and 105 % for the reason that latest lows of $7,500.

Contemplating the absurdity of this transfer, it’s no shock that members of the ySqueeze social gathering are celebrating on-line.

Dealer “Crypto Canine” commented on the group and the YFI pump:

yearn.finance, presently ranked #37 by market cap, is up 54.98% over the previous 24 hours. YFI has a market cap of $470.31M with a 24 hour quantity of $1.04B.

yearn.finance Worth Chart

YFIUSD Chart by TradingView

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Bitcoin Value Prediction: BTC/USD At a Danger of Pulling Again to $14,000; Might or not it’s Beneath Risk?

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Bitcoin (BTC) Value Prediction – November 7

BTC/USD continues to consolidate beneath a $15,000 barrier and on high of important assist $14,500.

BTC/USD Lengthy-term Development: Bullish (Each day Chart)

Key ranges:

Resistance Ranges: $16,600, $16,800, $17,000

Assist Ranges: $14,000, $13,800, $13,600

BTCUSD – Each day Chart

BTC/USD has maintained its worth close to the $16,000 mark from yesterday. Although the coin has been following the upward motion for the few weeks, this era, the worth is now going through down with 5.3% within the worth. It’s prone to retain this bearish vibe within the near-term because the technical indicator strikes beneath the 70-level, shifting focus from the overbought area. On the time of writing, the worth of Bitcoin is hovering at $14,773.

The place is BTC Value Going Subsequent?

Trying on the each day chart, the important assist at $14,500 could also be examined to the draw back as the worth consolidates. Failure of the famous assist would seemingly see the worth crossing beneath the 9-day MA. This space is prone to decelerate the correction and function a jumping-off floor for one more restoration try; nonetheless, whether it is out of the best way, the assist stage of $14,000, $13,800, and $13,600 could come into focus.

Nevertheless, BTC/USD recovers above $15,600 because the market opens right now however the resistance at $15,779 nonetheless stands in the best way of actions to $16,000. Within the meantime, Bitcoin is buying and selling at $14,773 amid a constructing bullish momentum. Extra so, BTC/USD remains to be combating to appropriate the delicate bearish motion, and the bullish pattern coupled with the suitable quantity and excessive volatility stage is the suitable ingredient for the restoration to $16,000 in different to renew its upward motion in direction of $16,600, $16,800, and $17,000 resistance ranges.

BTC/USD Medium-Time period Development: Bearish (4H Chart)

Checking the 4-Hour chart, BTC/USD is at present buying and selling beneath the 9-day and 21-day shifting averages. However, Bitcoin has not but slipped beneath $14,200 and nonetheless within the loop of breaking or making a bounce again. BTC worth hovers round $14,584 and will take time to persistently commerce above $16,000. The upward motion could seemingly retest the $15,400 and $15,600 resistance ranges if the bulls regroup once more.

BTCUSD – Four Hour Chart

Nevertheless, on the draw back, the worth might fall beneath $14,000 if the bears put extra strain into the market, an additional motion might take a look at the important assist on the $13,800 stage and beneath. The RSI (14) strikes beneath the 50-level, indicating a bearish motion.

Bitcoin’s $2000 Worth Rally Makes 97% Hodlers Worthwhile

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Bitcoin is presently buying and selling at a two 12 months excessive value of $15,531 after an outstanding value rally of over $2000. The king coin seems poised to go previous its 2017 excessive within the close to future with all on-chain metrics backing the identical. The bullish burst from bitcoin has not simply despatched its value to a two-year excessive but additionally made 97% of the hodlers extra worthwhile. At current 97% of BTC holders are in revenue which suggests they purchased their bitcoin at a lower cost than its present market worth.

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Bitcoin metrics
Supply: Intotheblock

If we have a look at the rise of worthwhile addresses its fairly clear that in August the variety of addresses in revenue had been constantly larger all through the month which dipped in September and regularly began to rise once more from the tip of October.

Glassnode
Supply: Glassnode

If Bitcoin manages to rise larger and break its all-time-high all of the addresses can be in revenue. Given the continued bullish momentum and fewer resistance till $20,000, many analysts imagine it will go previous its ATH.

One among Most Natural Bitcoin Rally In Years

The continued Bitcoin value rally is being deemed as one of many natural ones in years as on-chain metrics counsel in contrast to synthetic pumps the positive aspects made within the ongoing pump can be retained. Bitcoin broke previous the important thing resistance of $15,000 and has been solidifying round $15,500 at current.

Aside from these components the greed index is at excessive greed stage touching over 90 marks yesterday. There was a major enhance within the variety of hodlers which is sort of just like the 2017 conduct when previous to December pump the holders share on the blockchain rose sharply. Additionally. a major quantity of bitcoin is being moved away from centralized exchanges which is a bullish signal and it means that merchants expect a bull run and holding their belongings with long-term in thoughts.

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Ethereum France – Reside: En route pour l’EIP-1559 avec Barnabé Monnot

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Mardi 10 Novembre, Ethereum France reçoit Barnabé Monnot pour une présentation de l’EIP-1559 à l’heure du déjeuner sur Youtube.

La forge de Vulcain – Diego Velázquez, 1630

Alors que le contrat de dépôts pour participer à la preuve d’enjeu sur Ethereum 2 vient d’être déployé, une autre évolution majeure d’Ethereum se prépare: l’EIP-1559.

L’affiliation Ethereum France recevra Barnabé Monnot, chercheur au Sturdy Incentives Group de la Fondation Ethereum, pour une présentation de l’EIP-1559 ce mardi 11 novembre à 12h30. Cet événement aura lieu en direct sur notre chaîne Youtube, à cette adresse. Vous pourrez poser toutes vos questions à Barnabé sur le chat et sur le slack de notre affiliation (pour le rejoindre c’est par ici!). Venez nombreux!

Cette proposition veut transformer de fonds en comble le fonctionnement du système des frais de transaction et peut être à juste titre présentée comme l’ultime élément de la politique monétaire du protocole.

En effet, depuis le début de l’année les frais de transaction se sont montrés très volatiles notamment avec l’explosion des purposes de finance décentralisée. Cela a mis en évidence les inefficiences du système actuel de frais de transaction qui se rapproche en pratique à kind d’enchère très commun (en anglais First-price sealed-bid auction). Les utilisateurs signent une transaction avec des frais associés puis les mineurs intègrent dans le prochain bloc les transactions avec les frais les plus hauts jusqu’à épuisement de la place dans le bloc. Chaque utilisateur paye ce qu’il a proposé au second de la signature et des méthodes d’estimation complexes sont nécessaires pour suggérer aux utilisateurs un juste prix (voir cet article pour une analyse du problème sur bitcoin). Au last, les utilisateurs paient souvent plus cher qu’ils n’auraient dû ou bien se retrouvent à attendre plus longtemps que prévu avant que leurs transactions ne soient traitées. Ce problème a néanmoins en partie été réglé par l’émergence de providers comme les relayeurs dont Vincent le Gallic a décrit le fonctionnement dans cet article.

Enfin à moyen terme la chaîne que nous connaissons aujourd’hui comme le réseau principal d’Ethereum ne devrait plus récompenser les mineurs pour la création de nouveau bloc et cela met en trigger les mécanismes d’incitation que l’EIP-1559 va permettre de corriger.

Rendez-vous mardi à l’heure du déjeuner pour faire le tour de cette EIP à l’un des specialists du sujet!

Bitcoin Turns Twelve: A Historical past of Bitcoin As much as Its 2020 Anniversary

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Altcoins & DeFi Again within the Recreation as Bitcoin Consolidates

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After having a run-up of over 20% this week, Bitcoin is taking a breather.

On Thursday, the main digital asset went to nearly $16,000 after beginning the month simply above $13,000. This began in October when BTC traded around $10,000 and bought into motion in direction of the top of the month.

Now, we’re buying and selling underneath $15,330, on the time of writing, within the crimson with $2.51 billion in ‘actual’ buying and selling quantity.

However whereas Bitcoin is consolidating after scoring a 34-months excessive, it is a good time for the miserable altcoins to lastly do one thing.

Ether that has been silent throughout Bitcoin’s run-up lastly scored above $465, a stage not seen since July 2018, which partially was due to the announcement about ETH 2.0 finally coming in December. For the launch of Beacon Chain, the core of ETH 2.0, ETH deposits have started flowing in too.

Whereas nearly all the pieces is having fun with good points, it’s but once more the DeFi occasion, which appears to have lastly capitulated.

After dominating the Q2 and exploding in Q3, the decentralized finance sector topped out in September. Whereas the entire quantity locked within the sector tried to maintain up, the value of DeFi tokens took a extreme beating.

CRV really went down 99% from its excessive whereas the vast majority of them dropped 75% to 95%.

However now, the DeFi tokens are being thrilling as soon as once more, particularly YFI. The DeFi darling that went above $40,000 crashed to $7,500 on Thursday and has been trying hideous this week when the quantity shot up, and YFI worth began trending up.

As a matter of truth, in simply two days, it gained over 118% of its worth again. As of writing, YFI has been buying and selling at $14,200.

“YFI pushed +33% in an hour. No information. Only a monster purchaser/s. That is how potential pattern reversals appear to be,” noted one dealer.

Different notable gainers embrace SOL (+35%), Aave (+30%), SNX (+27%), SRM (+24%), and CRV (+20%).

“Don’t underestimate the ability of what might seem to be superfluous narratives on this house. There is a purpose alts have been pulling the identical for years; it really works,” said dealer Hsaka. “AAVE continues to be the DeFi chief with the most important % change in OI too.”

And these good points will be seen mirrored within the file DeFi TVL at $12.48 billion, as per DeFi Pulse.

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