What Is A Blockchain?

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The best (& worst) quotes, adoption & regulation highlights, leading coins, predictions and much more — one week on vietradeportal.vn in one link!


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by Editorial Staff

Coming every Saturday, Hodler’s Digest will help you traông xã every single important news story that happened this week. The best (and worst) quotes, adoption & regulation highlights, leading coins, predictions & much more — a week on vietradeportal.vn in one liên kết.

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Top Stories This Week

Bitcoin mining difficulty just fell by a record 28% — but will this help prices recover?

Bitcoin has recorded its biggest mining difficulty drop of nearly 28%, but one model suggests prices will not bottom until October.

The drop is in response to lớn the ongoing miner migration out of Trung Quốc và the subsequent loss of hash rate — and this could deliver a profit boost for the miners still at work.

Bitcoin has now closed its third red monthly candle in a row, meaning BTC/USD is now the furthest away from its stock-to-flow Mã Sản Phẩm estimates in more than two years. Data shows the world’s biggest cryptocurrency fell 40.36% in Q2… the biggest quarterly plunge in over three years.

Plan B said the next six months will be “make or break” for the stock-to-flow Model, adding: “Even for me it is always a bit uneasy when Bitcoin price is at the lower bound of the stock-to-flow mã sản phẩm.”

Binance faces regulatory upheaval as lawmakers target ‘global’ exchanges

Regulatory woes are piling up for Binance. Japan has accused the exchange of operating without proper registration, & toughened measures in the Canadian province of Ontario have sầu prompted Binance to lớn announce that it plans khổng lồ cease all operations there.

Monday saw Binance suspover the use of Faster Payments in the U.K., meaning that it would take longer for British customers to lớn withdraw pounds from the exchange. This came days after the Financial Conduct Authority told the exchange khổng lồ cease all regulated activities in the country. However, this was later reinstated.

Thailand’s Securities và Exchange Commission & the Cayman Islands Monetary Authority are the lathử nghiệm financial regulators to lớn announce a regulatory crackdown on Binance.

As a major global exchange, the exchange has been struggling lớn find the right jurisdiction for operating its business.

Bitcoin.org blocks access to lớn Bitcoin software tải về in the UK

Bitcoin.org has blocked U.K. visitors from downloading Bitcoin Chip Core software, as well as the whitepaper authored by Satoshi Nakamolớn. 

It comes days after a British court ruled in favor of self-proclaimed Bitcoin creator Craig Wright.

Cøbra elected not khổng lồ mount a defense in order khổng lồ protect their anonymity — và was also ordered khổng lồ pay interyên ổn legal costs of £35,000 (about $48,600.)

The judgment is the lathử nghiệm salvo in Wright’s assault on people who dispute his claim of being Bitcoin creator Satoshi Nakamoto.

Strike to offer ‘no fee’ Bitcoin trading, taking ayên at Coinbase và Square

Payments platsize Strike has announced that it will allow U.S. customers to lớn buy và sell Bitcoin with almost no trading fees — taking on the likes of Coinbase, Square and PayPal.

Strike’s founder and CEO Jaông chồng Mallers says his platsize is setting out to be the “cheapest & easiest place on the planet to lớn acquire BTC.”

Mallers has taken ayên directly at Coinbase too, describing Coinbase’s fees as “asinine.” He added: “Make no mistake, when you buy Bitcoin on Coinbase, you are supporting shitcoins.”

In other developments, Coinbase has revealed that it plans khổng lồ menu digital assets on its exchange faster than it does now. And as the exchange seeks khổng lồ bolster its global presence, it’s going khổng lồ launch a crypto tiện ích store offering products developed by third parties.

Meanwhile, Robinhood has filed an application with the U.S. Securities & Exchange Commission for an initial public offering. That application came a day after regulators ordered the company lớn pay a $70 million penalty, amid allegations it caused “widespread and significant harm” to thousands of users.

Elon Musk’s lathử nghiệm attempt to pump Dogecoin fails miserably

Dogecoin prices surged but did not skyrocket after receiving another endorsement from Tesla CEO Elon Musk on Thursday.

Musk’s first tweet declared “Release the Doge!” — sending the joke cryptocurrency up 8.42% lớn $0.261. A sell-off followed suit, taking DOGE/USD down lớn $0.247.

Less than an hour later, Musk tweeted a rather unusual message that said: “Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.”

DOGE/USD subsequently rose 5.22% lớn $0.26 after the second tweet.

This is modest compared with the wild gains we’ve sầu seen after Musk’s tweets in the past.

Xem thêm: Nbc - Tổng Công Ty May Nhà Bè

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Winners và Losers

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At the end of the week, Bitcoin is at $34,544.52, Ether at $2,219.30 & XRPhường at $0.2469. The total market cap is at $1,433,529,255,589.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are XinFin Network, Compound Internet Computer. The top three altcoin losers of the week are Celo, Theta Fuel Revain.

For more info on cryplớn prices, make sure lớn read vietradeportal.vn’s market analysis.

Most Memorable Quotations

“Make no mistake, when you buy Bitcoin on Coinbase, you are supporting shitcoins.”

Jaông xã Mallers, Strike CEO

“I did suggest to the President that whatever Salvador chooses to bởi with regards lớn Bitcoin, you ensure that it is well regulated, that it is transparent & that it is responsible, & you protect yourself against malign actors.”

Victoria Nuland, U.S. State Department 

“While I believe in the power of new giải pháp công nghệ, we also need khổng lồ manage its impact on our economy và society.”

Rishi Sunak, U.K. Chancellor

“The ‘Rick Astley’ is the holder that keeps buying & never tends to sell much.”

Willy Woo, Bitcoin analyst

“140 miễn phí NFTs for 140 of you, besties.”

Twitter

“A good currency, in my view, is one that’s used lớn buy coffee, buy your house, buy a oto, and on that count, Bitcoin has failed, & not just failed, it’s failed miserably.”

Aswath Damodaran, Thủ đô New York University professor of finance

Prediction of the Week 

44% of investors expect Bitcoin lớn drop below $30K in 2021: CNBC survey

A recent CNBC survey suggests 44% of portfolio managers and equity strategists think Bitcoin will be below $30,000 by the kết thúc of this year.

Out of the remaining 56%, 25% predicted the price to lớn shoot up and settle at $45,000 — while another 25% projected that we could see $55,000.

A small minority of 6% said Bitcoin could return back to lớn $60,000, near the $65,000 all-time high seen in April 2021.

FUD of the Week 

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Bitcoin has failed miserably as currency, says NYU’s ‘dean of valuation’

Aswash Damodaran has launched another blistering attachồng on Bitcoin.

The professor of finance at Thủ đô New York University said: “A good currency, in my view, is one that’s used khổng lồ buy coffee, buy your house, buy a oto, và on that count, Bitcoin has failed, and not just failed, it’s failed miserably.”

He added that Bitcoin’s only claim khổng lồ fame is in the returns earned by early investors, adding: “When I run inkhổng lồ Bitcoin enthusiasts, they seem to push this notion that Bitcoin is a great currency because they’ve sầu made a lot of money on it.”

Back in May, Damodaran claimed Ether stands a better chance of becoming a commodity than Bitcoin.

UK’s NatWest ngân hàng limits transactions to lớn crypto exchanges

As the crypkhổng lồ crackdown continues in Britain, another high street ngân hàng has intensified its efforts lớn curtail its customers’ use of digital assets. 

Natwest Group has reportedly capped the daily amount its customers can sover to lớn cryptocurrency exchanges due to lớn concerns over investment scams and fraud. However, the new limits on fiat currency transfers have sầu not been revealed.

NatWest said the restrictions are designed to lớn be temporary — &, in some cases, payments lớn specific crypto asmix firms where there have been “particularly significant levels of fraud-related harm” will be blocked altogether.

‘We don’t have much time left’ to regulate crypkhổng lồ, says Bank of France governor

Bank of France governor François Villeroy de Galhau said that Europe should make crypto regulation a priority or risk digital assets challenging its monetary sovereignty.

He warned the European Union only has “one or two years” left khổng lồ establish a regulatory framework for cryptocurrencies.

“We in Europe need khổng lồ move as quickly as possible,” the governor added.

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