Bitcoin

Bitcoin Ordinals are digital assets inscribed on a satoshi, the smallest denomination of a Bitcoin (BTC). This strategy allows users to create Non-Fungible Tokens (NFTs) on the Bitcoin blockchain. NFTs are unique digital assets representing art, collectibles, and more. Ordinals have become popular due to their ability to provide an extra layer of security and decentralization for Bitcoin transactions. This has caused a surge in Bitcoin network development, making it easier for users to store assets securely. The Ordinals protocol…

With Bitcoin surging to reach a new 2023 high, MX has been the top performer in exchange tokens, with a 7-day growth of 32%. Bitcoin's price rising over $25,000 has sparked a frenzy of activity in the cryptocurrency market. With investors flocking to take advantage of the price gains, the trading volume for top exchanges has significantly increased. As one of the leading exchanges, MEXC announced that its futures business made a significant breakthrough,  with an average daily trading volume…

Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

Bitcoin, the world’s first cryptocurrency, regularly faces criticism for having ‘outdated’ tech and a tendency to evolve slowly relative to the rest of crypto. This leaves altcoin projects looking to build on Satoshi’s original invention room to differentiate and compete through added features, such as faster throughput, smart contracts, and tokenization.  However, a hotly-debated Bitcoin upgrade called “Drivechain” seeks to introduce these benefits to Bitcoin by opening up its development possibilities in one fell swoop. So what is Drivechain, its…

Brad Jones – former leader of Texas’ energy grid – said on a recent DR panel that Bitcoin is helping balance the Texas grid – and make it green.  The former leader’s comments reflect Bitcoiners’ prior theories that the mining industry could become a boon to environmentalism, rather than a hindrance.  Miners Supporting Texas In a conference clip shared by DocumentingBTC, Jones explained that the Electric Reliability Council of Texas (ERCOT) had been long searching for demand-responsive loads of scale…

Bitvavo – a Netherlands-based crypto exchange – is unhappy with Digital Currency Group (DCG)’s proposed plan to compensate Genesis’s troubled creditors. While DCG has offered to recover 70% of funds owed to such firms, Bitvavo has deemed the plan unacceptable. Pay it All Back, Says Bitvavo In a statement from Bitvavo on Tuesday, the exchange claimed that DCG “has sufficient funds available for full repayment.” As such, its offer to repay just 70% of debts “in a period acceptable to…

The provincial government of British Columbia, Canada, has enacted an 18-month freeze on setting up any new Bitcoin mining operations.  The pause will give the government time to assess whether the mining industry impacts its economic and environmental goals.  According to CBC News, the government has now suspended 21 applications for new mining operations in the province. Collectively, they would have consumed 1.403 megawatts of energy, equal to that of 503,000 homes or 2.1 million electric vehicles. “Cryptocurrency mining consumes…

In its latest report, crypto exchange Coinbase predicts the crypto bear market will extend for many more months. The company’s research team believes this year’s deleveraging cycle has harmed the investors' interest in altcoins. A Flight to Bitcoin and Ethereum Per the company’s report released on Wednesday, the multiple insolvencies plaguing the crypto industry have crushed investor confidence in the space. This is likely to extend the crypto winter well into 2023. “Constraints on liquidity may also disrupt normal market…

Five Bitcoin addresses with ties to QuadrigaCX – a defunct Canadian Bitcoin exchange – are seeing some renewed activity.  According to on-chain sleuth ZachXBT, about 104 Bitcoin worth roughly $1.7 million unexpectedly moved on December 17 from five wallets connected to QuadrigaCX. The last time funds had moved from those addresses was in April 2018.  A nearly identical number of Bitcoin moved from Quadriga-controlled wallets on February 16, 2019, according to an Ernst and Young report. They moved to wallets…