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Fidelity Digital Assets has commented on common criticisms of Bitcoin.

The statement „Bitcoin has failed as a means of payment“ is one of the biggest arguments of critics of Bitcoin (BTC). Fidelity Digital Assets tries to refute this. In a blog post on November 13, the company took up six „stubborn“ points of criticism and refuted them.

These include the volatility of Bitcoin, its harmfulness to the environment and its use in illegal activities.

About the „failure“ of coin as a means of payment for everyday transactions, Fidelity says that this argument failed to understand the true purpose of Bitcoin. According to Fidelity, the currency ranks behind conventional payment systems such as Visa, Mastercard and PayPal, as they all have higher throughput. However, when Bitcoin was developed, different priorities were set. Among other things, Italian Formula is more concerned with „complete scarcity,“ according to Fidelity.

„Bitcoin makes deliberate compromises, such as limited and expensive capacity, to provide other important features, such as decentralization and immutability. In view of the high level of processing security, Bitcoin optimizes its limited capacity for handling transactions that are not given much attention by traditional providers“.

The coin is theoretically suitable as a means of payment. But the restrictions are designed so that everyday use is not necessarily the ultimate goal for it. In addition to volatility, Bitcoin is impractical for many payments because of the tax definition of Bitcoin as property in some regions. Such a definition means that users must calculate gains and losses for each payment or purchase in Bitcoin.

Fidelity claims that users should be aware that the design of the Coin has been based on decentralization, a fixed offer and unchanging processing. These should be evaluated separately. However, one must admit that they have disadvantages in everyday transactions.

On the subject of payments, Fidelity also expressed criticism that the extreme volatility compromises the use of Bitcoin as a store of value. Fidelity also addressed the conditions surrounding this point of criticism, claiming that volatility is the price for an „intervention-resistant market“:

„No central bank or government can intervene to support or inflate markets and thereby artificially dampen volatility. The volatility of Bitcoin is a compromise for a distortion-free market. Real pricing with simultaneous volatility may be better than artificial stability if it leads to distorted markets that may collapse without intervention.

Fidelity also provides other detailed arguments related to volatility. The firm also mentions the „completely inelastic supply“.

The last four points of criticism addressed in the blog post are the harmfulness to the environment, the use of Bitcoin for illegal activities, the fact that the asset is „not linked to anything“ and the fact that it could be overtaken by a competitor.

Crypto art exhibits a unique characteristic that makes it different from anything that came before it.

BeInCrypto spoke with crypto-artists Daniella Attfield and PR1MAL CYPHER.

Crypto-art attracts a wide variety of like-minded members

Imagine being an artist , for a moment. Whether your niche is digital art or creating a physical piece, you are creating amazing visuals that others can enjoy. One of the most important elements of artistic creation is the protection of your work against reproduction without your permission.

In the particular case of digital art , there is always the possibility that the image will be reproduced several times and distributed, which essentially decreases the value of the work and destroys this precious element of rarity. Indeed, what was once a single original work has been multiplied by others, thus making it common.

Crypto-art has recently appeared on the scene, with a pioneering aesthetic. It sets out to offer a solution to the threat artists face when their works are copied by unauthorized parties, resulting in a depreciation of their work. In a nutshell, crypto-art is the artistic version of Bitcoin .

To dig deeper into this point, BeInCrypto spoke with crypto artists. Daniella Attfield, a young South African crypto artist, explained this new and growing phenomenon:

Crypto art is fundamentally art (usually, but not always, digital art), that is, it receives a unique signature on the blockchain that confirms it is original and limited in quantity – just like original artwork and photographic prints that have been signed. It is then sold or auctioned for cryptocurrency and then transferred to the buyer, so that they have a totally unique and verified original work of art.

It is no different from traditional art forms, in that you would pay an artist if you wanted to own their original work. Often there can be several editions of the same work, as with photographic prints, and sometimes 1/1 editions as with oil paintings. The only difference is the digital signature. This means that crypto-artists can now sell their works in a way they can control.

A unique feature

There are apparently some drawbacks to the pursuit of the traditional art market , especially for obscure or unknown artists. Creating artwork can be a slow and tedious process. Artists must also think about all the elements necessary for an exhibition, which takes time and resources, in collaboration with a gallery willing to present their work.

The disadvantages increase when the presentation is limited to the time slot of a gallery, for example its opening hours. Artists may never see the immediate results of their work, although it can take years for their work to hit the market.

Unlike conventional works of art, crypto art has a unique characteristic, which makes it different from anything that came before it. Each crypto work of art has an exclusive and indelible identifier – a digital signature, similar to a copyright or encoded watermark, which is not visible to the naked eye.

This exclusive signature is then used to identify, verify and track its history on the blockchain, allowing the artwork to be inalienably linked to its unique signature and engraved in the blockchain’s immutable digital public ledger. This is called “tokenization”, “minting” or even “issuance of currency”.

Crypto art exhibits a unique characteristic that makes it different from anything that came before it.

BeInCrypto spoke with crypto-artists Daniella Attfield and PR1MAL CYPHER.

Crypto-art attracts a wide variety of like-minded members

Imagine being an artist , for a moment. Whether your niche is digital art or creating a physical piece, you are creating amazing visuals that others can enjoy. One of the most important elements of artistic creation is the protection of your work against reproduction without your permission.

In the particular case of digital art , there is always the possibility that the image will be reproduced several times and distributed, which essentially decreases the value of the work and destroys this precious element of rarity. Indeed, what was once a single original work has been multiplied by others, thus making it common.

Crypto-art has recently appeared on the scene, with a pioneering aesthetic. It sets out to offer a solution to the threat artists face when their works are copied by unauthorized parties, resulting in a depreciation of their work. In a nutshell, crypto-art is the artistic version of Bitcoin .

To dig deeper into this point, Bitcoin Lifestyle app spoke with crypto artists. Daniella Attfield, a young South African crypto artist, explained this new and growing phenomenon:

Crypto art is fundamentally art (usually, but not always, digital art), that is, it receives a unique signature on the blockchain that confirms it is original and limited in quantity – just like original artwork and photographic prints that have been signed. It is then sold or auctioned for cryptocurrency and then transferred to the buyer, so that they have a totally unique and verified original work of art.

It is no different from traditional art forms, in that you would pay an artist if you wanted to own their original work. Often there can be several editions of the same work, as with photographic prints, and sometimes 1/1 editions as with oil paintings. The only difference is the digital signature. This means that crypto-artists can now sell their works in a way they can control.

A unique feature

There are apparently some drawbacks to the pursuit of the traditional art market , especially for obscure or unknown artists. Creating artwork can be a slow and tedious process. Artists must also think about all the elements necessary for an exhibition, which takes time and resources, in collaboration with a gallery willing to present their work.

The disadvantages increase when the presentation is limited to the time slot of a gallery, for example its opening hours. Artists may never see the immediate results of their work, although it can take years for their work to hit the market.

Unlike conventional works of art, crypto art has a unique characteristic, which makes it different from anything that came before it. Each crypto work of art has an exclusive and indelible identifier – a digital signature, similar to a copyright or encoded watermark, which is not visible to the naked eye.

This exclusive signature is then used to identify, verify and track its history on the blockchain, allowing the artwork to be inalienably linked to its unique signature and engraved in the blockchain’s immutable digital public ledger. This is called “tokenization”, “minting” or even “issuance of currency”.

Bitcoin supera il più popolare subreddit NSFW nel numero di membri.

In quello che sembra essere un segno importante dell’adozione mainstream, Bitcoin Evolution, la più grande comunità di crittovalute sul popolare sito web di discussione Reddit, ha ora superato sesso nel numero di membri.

Secondo Redditlist, un sito web che presenta quotidianamente la classifica dei 5.000 subreddit più popolari, Bitcoin ha attualmente 1.707.689 iscritti, mentre sex ne ha 1.697.632.

Tappe fondamentali, rimpianti del passato e auto costose

Bitcoin è anche in vantaggio rispetto ai popolari subreddit come DeepIntoYouTube, Design e JusticeServed. Attualmente è classificato come il 198° subreddit più grande della lista.

Il subreddit ha visto un enorme afflusso di nuovi abbonati alla fine del 2017, quando la mania della crittovaluta si stava avvicinando al suo picco, e ha continuato a crescere a un ritmo costante nonostante il brutale mercato dell’orso nel 2018.

Il post Bitcoin più popolare di tutti i tempi con più di 48.500 upvotes è circa Bitcoin che supera per la prima volta la soglia dei 10.000 dollari il 1 dicembre 2017. Come riportato da U.Today, la principale moneta criptata sta attualmente avendo la sua più lunga striscia di tempo al di sopra di quel punto cruciale.

Anche la cantante inglese Lily Allen che ha rifiutato 200.000 BTC per un concerto nel 2009 è tra le migliori proposte di tutti i tempi. Alcuni dei migliori post del 2020 provengono da persone che scoprono a caso i Bitcoin nei loro vecchi portafogli e acquistano auto di lusso.

Reddit ha le sue proprie valute criptate

Già a maggio, Reddit ha introdotto i gettoni LUNA e BRICK basati sull’Etereum per premiare l’impegno su Cryptocurrency e Fortnite, rispettivamente.

Cryptocurrency è il secondo più grande subreddito di crittografia che attualmente conta 1,1 milioni di abbonati.

Il sito di social news ha poi permesso ai suoi utenti di convertire questi gettoni in Reddit Coins per accedere alle funzionalità premium della piattaforma nel mese di settembre.

Bakkt’s termijnvolumes zijn ondanks de mijlpaal nog steeds verbleekt in vergelijking met die van de topcryptocentransacties Huobi en Binance. Het gereguleerde platform voor crypto-activabewaring en -handel dat eigendom is van Intercontinental Exchange (ICE) rapporteerde recordhandelsvolumes per dag voor zijn fysiek afgewikkelde Bitcoin (BTC) termijncontracten.

Bakkt kondigde op 16 september aan dat meer dan 200 miljoen dollar aan BTC-contracten binnen 24 uur waren verhandeld. Dit betekent dat het platform zijn vorige record heeft gebroken met maar liefst 36%. Het recordcijfer is bijna het dubbele van de gemiddelde dagelijkse handelsvolumes die tot nu toe in heel september zijn gepubliceerd, volgens crypto market data aggregator Skew.

Ondanks het feit dat het wordt aangeduid als de mogelijke katalysator voor een door instellingen geleide stierenmarkt, hebben de Bitcoin-derivaten van Bakkt nooit aan de verwachtingen voldaan. Ze hebben in januari 2020 periodes van volledige inactiviteit meegemaakt. Maar de gestage toename van het volume die onlangs op het platform werd ervaren, geeft aan dat institutionele beleggers zich geleidelijk aan opwarmen.

Een opvallend verschil voor Bakkt’s contracten is dat ze naar verluidt ‚fysiek worden afgewikkeld‘ in Bitcoin in plaats van in contanten. Toch hebben analisten laten doorschemeren dat een meerderheid van de contracten die op Bakkt worden verhandeld, worden doorgerold. Slechts een minderheid van de handelaren heeft ervoor gekozen om bitcoin te ontvangen wanneer de contracten aflopen.

Andere Crypto-beurzen

In de afgelopen 24 uur heeft Binance’s BTC-USDT eeuwigdurende contract 2,65 miljard dollar in de handel gebracht. Dit termijncontract heeft geen verval- of afwikkelingsdatum. Aan de andere kant hebben de 74 termijncontracten van de beurs een gecumuleerd effect van $5.96 miljard.

Van zijn kant genereerde Huobi’s 103 futures paringen $5.48 miljard in de handel in de laatste 24 uur. Dat bedrag omvat $1.28 miljard van het eeuwigdurende contract van het platform BTC-USD. OKEx’s BTC-USD eeuwigdurende contracten registreerden $516 miljoen aan handel in de laatste 24 uur met de 466 futures paringen van de beurs die in het algemeen $2.72 miljard opleverden.

Maar Bakkt versloeg Derebit met Derebit’s BTC-USD contract dat $168 miljoen in 24-uurs volume genereerde.

Bitcoin’s price moves in an ascending parallel channel.

The technical indicators show short-term weaknesses.

Price is probably approaching the top of its corrective C wave

The price of Bitcoin (BTC) reached a local peak at $ 10,940 on 15 September. That said, it was then rejected by a significant fibonacci level , before declining slightly.

As of the layout of this article, Crypto Engine was once again looking to break through this resistance.

The rejection of Bitcoin

Since its local low on September 8, Bitcoin has exhibited a gradual rise. Its movement may be contained within an ascending parallel channel, in which price is currently very close to the resistance line.

Additionally, the September 15 high of $ 10,940 validated the resistance line of the channel as well as the 0.5 fibonacci level of the entire decline. This makes it a likely level of turnaround.

Technical indicators show weaknesses. There is a significant bearish divergence in the RSI, and the MACD has started to decline significantly. The latter could prepare to move into negative territory.

The daily chart also indicates that the uptrend has yet to be confirmed. Although the MACD is on the rise, the RSI may face resistance at the 50 line. Additionally, the Stochastic Oscillator has yet to form a bullish cross.

Unless the price manages to meet the following targets, this is likely a retracement rather than an uptrend.

The price exceeds the fibonacci level 0.618 to $ 11,200, this level having first served as support

The Stochastic Oscillator generates a bullish cross.
The RSI exceeds 50.

On September 2, BTC likely started an impulsive, bearish five wave formation (orange below) and is currently in wave 4. The two most plausible levels for the end of this wave are found at 10,937 $ (fibonacci level 0.5 and current peak) and $ 11,199 (fibonacci level 0.618 and old support).

This fourth wave appears within a complex corrective structure in wxy (in red).

Further observation of wave Y reveals ABC formation (in blue). Wave length supports a climb to a high of $ 11,200. This would give the C and A waves a ratio of 1: 1.61, which is common when making ABC corrections.

In addition, we can see that wave C is in its fifth and last sub-wave (in red). If the ascending support line that connects the troughs of subwaves 2 and 4 is broken, this would confirm that the upward correction is over.

In conclusion, the price of BTC appears to be approaching the end of its correction, which should end around $ 10,930 or $ 11,200.

Luka w sieci Bitcoin – teraz naprawiona – mogła doprowadzić do zamknięcia całych systemów węzłów. Na szczęście hakerzy nigdy nie wykorzystali błędu.

Deweloperzy odkryli błąd w łańcuchu bloków Bitcoin w 2018 roku.

Błąd może doprowadzić hakerów do zamknięcia całych sieci

Deweloperzy ponownie odkryli błąd w wielu innych łańcuchach bloków w tym roku – i opublikowali artykuł zawierający swoje odkrycia.

Dwóch inżynierów Bitcoin Era odkryło kilka luk w zabezpieczeniach, które mogą spowodować zamknięcie łańcucha bloków – dwa lata po tym, jak myśleli, że załatali problem.

Inżynierowie Bitcoin, Braydon Fuller i Javed Khan, naprawili lukę, nazwaną INVDoS, w łańcuchu bloków Bitcoin w 2018 roku, ale opublikowali w tym tygodniu artykuł badawczy, w którym szczegółowo opisali, jak znaleźli ją w wielu innych iteracjach blockchain: Btcd i Decred.

Atak działa w następujący sposób: jeden wrogi węzeł blockchain – członek sieci blockchain, który weryfikuje transakcje – zalewa inny, wysyłając do nich wezwania do nieistniejących transakcji.

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W rezultacie węzeł zostałby przytłoczony, a jego pamięć „rosłaby w nieskończoność” – napisali naukowcy. „Spowoduje to awarię procesu i potencjalne zamrożenie procesu i komputera do czasu zakończenia procesu”.

Inżynierowie stwierdzili w raporcie, że luka, znana jako atak typu „odmowa usługi”, była „łatwa do wykorzystania” przez hakerów i może zostać wykorzystana do awarii całej sieci węzłów Bitcoin. Może to doprowadzić do opóźnienia w przetwarzaniu transakcji, powodując z kolei „utratę środków lub przychodów” – czytamy w raporcie.

W czerwcu 2020 roku Khan zauważył, że stary atak dotyczył Btcd, alternatywnego węzła łańcucha blokowego Bitcoin, który nie pozwala swoim użytkownikom wysyłać ani odbierać płatności. Miesiąc później Khan odkrył lukę w innej sieci blockchain, Decred.

Khan, wspólnie z innymi inżynierami blockchain, pod koniec sierpnia wprowadził poprawki luk w zabezpieczeniach. Na szczęście „Nie było żadnego znanego wykorzystania tej luki w środowisku naturalnym” – napisali w raporcie Fuller i Khan.

W rzeczywistości takie zamknięcie sieci nie miało miejsca od lat. „W sieci Bitcoin istniały tylko dwie luki w zabezpieczeniach, które doprowadziły do ​​takich przestojów i nie było żadnej od 2013 roku” – zauważono w raporcie.

Mimo to luka jest dość ogromna – przynajmniej jeśli chodzi o jej potencjał. W 2018 roku ponad 50% „publicznie reklamowanych węzłów Bitcoin z ruchem przychodzącym i prawdopodobnie większość kopaczy i giełd” miało lukę i było zagrożonych atakami, czytamy w raporcie.

Zagrożone są również łańcuchy bloków Litecoin i Namecoin, dodał raport. Chociaż w raporcie dodano, jest mało prawdopodobne, że luka mogła pomóc hakerom ukraść Bitcoin, fundusze z Lightning Network – protokołu do szybszego przetwarzania transakcji Bitcoin – mogły być zagrożone.