Category: Cryptocurrency News

Cryptocurrency News and Public Mining Pools

Red Bull Racing Partners With Bybit, F1 Team Says It’s the ‘Largest per Annum Crypto Sports Deal to Date’

Red Bull Racing (RBR) has announced the cryptocurrency exchange platform Bybit has joined RBR as a principal team partner. According to the announcement, RBR says the deal is the “largest per annum cryptocurrency sports agreement to date.” Red Bull Racing and Crypto Exchange Bybit Ink Multi-Year Deal On February 16, 2022, the Formula One racing […]

Bitcoin Sentiment Reaches Local High, But Can’t Shake Recent Fear

Last week, Bitcoin sentiment shifted to greed for the first time in four months, but has since fallen back down into fear territory amid the current geopolitical and macro uncertainties. Bitcoin Fear And Greed Index Slips Down From Four Month High As per the latest weekly report from Arcane Research, the crypto market sentiment has once again sunk down to fear after briefly entering greed last week. The “fear and greed index” is an indicator that tells us about the general investor sentiment in the Bitcoin and wider crypto market. The metric uses a numeric scale that goes from zero to hundred for representing this sentiment. All values above the “fifty” mark mean that investors are currently greedy. On the other hand, values below this cutoff imply that the market is fearful at the moment. Extreme values of above 75 and below 25 belong to the “extreme greed” and “extreme fear” territories, respectively. Some investors think that buying while the market is extremely fearful is the best as bottoms often tend to happen during such periods. Related Reading | Bitcoin Breaks Above $44K, Can Bulls Push Price To Next Level? Similarly, selling during extreme greed may be a viable strategy due to historical top formations in such periods. This philosophy is often called “contrarian investing.” This quote from Warren Buffet sums it up the best: Be fearful when others are greedy, and greedy when others are fearful. Now, here is a chart that shows the trend in the Bitcoin fear and greed index over the past year: Looks like the value of the indicator is at 46 right now | Source: The Arcane Research Weekly Update – Week 6 As you can see in the above graph, over a week ago, the metric observed some sharp uptrend as it crossed the 50 mark for the first time in four months. However, since then, the value of the index has declined, and now the Bitcoin market sentiment is once again that of fear. Related Reading | Bitcoin Mining Stocks Lose 50-60% Value Since Crypto Price Peak The report suggests that this trend may be because of broader financial markets derisking in response to current geopolitical and macro uncertainties. Also, according to some other data, the Bitcoin leverage ratio has sharply dropped over the past week, further suggesting that investors are reassessing their risk. BTC Price At the time of writing, Bitcoin’s price floats around $44.2k, up 1% in the last seven days. Over the past month, the crypto has gained 3% in value. The below chart shows the trend in the price of BTC over the last five days. BTC’s price has surged up over the past couple of days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, Arcane Research

Not taking the time to learn about BTC is 'Europe’s biggest risk,' says Belgian MP

The Brussels Minister who puts his entire €5,500 salary into Bitcoin on the first of every month sat down with Cointelegraph to discuss Bitcoin.

Honest Ad

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I am buying a 50k GPU/CPU (AMD Instinct™ MI250X Accelerator) for a customer – I will have it for some time before I send it to the customer – How do I find out the MHs?

I am going to have it in a server for a while before he picks it up. How many MH/s can I get with this? ​ https://www.amd.com/en/products/server-accelerators/instinct-mi250x submitted by /u/KyrPt0 [link] [comments]

Portal Removes The Need For Wrapped Tokens And External Custodians For Cross-Chain Asset Transfers

Cross-chain bridges can unlock tremendous potential in the crypto world. But, unfortunately, this technology has certain issues and the wrapped tokens they use. Portal wants to change that narrative by removing the need for wrapped assets or third-party custody of user assets. Cross-Chain Bridges Are A Security Risk Those are the findings of Ethereum co-founder Vitalik Buterin, uttered last month. There is a good reason why Buterin uses harsh language, as cross-chain bridges are prone to 51% attacks. When such an attack occurs, hackers and other culprits control the system and can defraud users. Although a 51% attack is not a permanent problem, attackers’ possibility to steal funds needs to be nipped in the bud. These bridges wrap and lock funds on other chains to facilitate transfers in their current form. It is an elegant solution, although one that introduces unnecessary security concerns. More specifically, the wrapping and locking aspect isn’t decentralized or trustless. Additionally, that approach can lead to security incidents, such as the ones affecting MultiChain, THORChain, pNetwork, Poly Network, and others. Staghead Crypto Head Neil Player adds: “Cross chain bridges present a unique set of security risks and these types of exploits are not a surprise. It is a reminder how bleeding edge a lot of the applications that run on top of blockchains are. Exploits such as what occurred on Wormhole are expected to cause growing pains as the technology and techniques associated with bridging assets matures.” The Poly Network attack made headlines as it is the largest hack in the decentralized finance space to date. Roughly $600 million in assets were stolen – and later returned, thankfully – confirming the vulnerability of these cross-chain bridges. Sadly, Wormhole lost 120,000 Ether – or over $320 million – due to insufficient validation protocols for “guardian” accounts. Unfortunately, too many security incidents involving these bridges warrant much optimism. Portal Has A Viable Solution Addressing the core risks with cross-chain bridges is paramount. There are too many attack vectors for assets across a wider network. Moreover, most bridges use centralized federations and external validators to process transfers, even if that reduces the reliability of decentralization and trustlessness. Portal aims to change the game through its Bitcoin-based cross-chain DEX. It does not use wrapped tokens or third-party custodial solutions. Instead, funds of participating users are locked during trade execution, without replication on other chains or re-bonding. Transactions occur via peer-to-peer atomic swaps, letting users trade Layer-1 assets without delays, exploits, or blocked funds. Portal executive chairman Chandra Duggirala explains: Bridges are hard to reason about and secure. Wrapping assets on other chains basically inherits the guarantees of an IOU. When hundreds of Millions and Billions of dollars are being secured by poorly engineered systems and custodians with untested security practices, it becomes hard to secure user funds. Especially given the balance of incentives, with hackers and attackers basically having to get out of jail free cards due to the “code is law” nature of public blockchains, security is especially important. We like simplicity, and trusting proven, lasting contract types and transaction models that Bitcoin has versus all sorts of experimental approaches to real user money.” By removing the need for wrapped assets and locked funds, transactions complete in full or not at all. Furthermore, if both parties do not receive the exchanged assets correctly, the Portal transaction rolls back automatically. It is a crucial step toward eliminating the risk of exploits at any transaction stage. All transfers are anonymous and leverage zero-knowledge technology, making DeFi a more appealing concept than relying on ineffective, hack-prone cross-chain bridges. Image: Pixabay

Evervault launches new service to keep crypto wallet seed phrases secure

Evervault, a provider of the tools developers need to build encrypted apps, has released a new service that stores seed phrases for crypto wallets using its enterprise-grade encryption. The service aids in preventing the problems of hackers attempting to steal crypto and users misplacing crucial information. 12:18:24 (pronounced “twelve, eighteen, twenty-four”), named after the most…
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No, Canada didn’t block any Bitcoin wallet simply because it’s impossible

I'm seeing to many people sharing the news that Canadian government blocked 40 Bitcoin wallets because they're related to the convoy protest. What's really happened is that the government told every exchange in Canada to block any deposit coming from those 40 wallets. That's totally different than blocking a wallet. Bitcoin is free and always…
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New Draft Bill Mandates Stablecoins be 100% Backed by Reserves

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Technical Analysis: AVAX Enters Crypto Top 10, as NEO, THETA Also Gain

AVAX climbed into the cryptocurrency top ten on Wednesday, following a three-day winning streak. Today’s move comes as THETA and NEO were also higher, despite the current market uncertainty. Biggest gainers Although the majority of the crypto top 100 was underneath a red wave, there were a few exceptions, which managed to surf above this. […]