Bitcoin News and Finance: What You Need to Know

Following the Altair upgrade on the Ethereum network, the protocol’s native cryptocurrency reached a new all-time price high. Altair is the next step for the Ethereum’s network’s proof-of-stake (PoS) transition. However, a recently submitted white paper explains that a group of computer scientists from Stanford University and the Ethereum Foundation believe there are three attack vectors “on [a] proof-of-stake Ethereum” blockchain. The 3 Attacks Against Ethereum Thesis Aims to Describe a Proof-of-Stake Problem Based on Evidence The Ethereum network currently has a proof-of-work (PoW) consensus mechanism and in time, the protocol plans to fully transition into a proof-of-stake (PoS) network. Recent upgrades like Berlin, London, and Altair have been applied to help smooth the transition toward the PoS goal. Just recently, after Altair was implemented, the price per ether skyrocketed toward a new all-time high (ATH) at $4,467 per unit. At the same time, network transfer fees have also...

The host of Mad Money, Jim Cramer, has some advice for crypto investors. “As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you’ve got my blessing to speculate on it,” he said. Cramer added that he is holding ether because he believes “there could be millions of greater fools out there.” Jim Cramer’s Crypto Investing Advice The host of the Mad Money show on CNBC, Jim Cramer, talked about crypto investing Thursday. The former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website, said: As long as you recognize the very real possibility that the whole investment case for crypto rests on the greater fool theory, you’ve got my blessing to speculate on it. The greater fool theory states that the price of an asset is determined by whether you can sell it for a higher price at a later point in time. The theory refers to the idea that you can make money purchasing an asset becau...

Apple co-founder Steve Wozniak sees bitcoin as mathematical purity, praising its fixed supply. However, he said that governments will never allow it to be out of their control. “If it got to the point where everything is being done in crypto and didn’t pass through governments for observation and taxation and all that, governments would just disallow it,” said the Apple co-founder. Steve Wozniak Says Governments Will Never Allow Crypto to Be Out of Their Control Apple co-founder Steve Wozniak talked about cryptocurrency in an interview with Yahoo Finance Friday. He was asked, “Are you a believer in crypto?” The Apple co-founder replied: “Crypto has an awful lot of promise through the blockchain of different things it can do differently than before in life, right down to elections even. It has a very trustable format that can’t be modified easily with humans in control of it.” He elaborated, “Look at our U.S. dollars, the government can just create new dollars, and borrow, and borr...

Trading platform Robinhood has reported that 40% of its cryptocurrency transaction-based revenue was attributable to transactions in the meme cryptocurrency dogecoin in the third quarter. By comparison, dogecoin accounted for 62% of the company’s transaction-based revenue in the second quarter. Dogecoin Trading on Robinhood Robinhood Markets Inc. stated in its quarterly filing with the U.S. Securities and Exchange Commission (SEC) Friday: For the three months ended September 30, 2021, 40% of our cryptocurrency transaction-based revenue was attributable to transactions in dogecoin. This was a significant decrease from 62% for the three months ended June 30, and 34% for the three months ended March 31. Robinhood’s third-quarter transaction-based revenue totaled $267 million, with only $51 million coming from cryptocurrency trading. Revenue from crypto trading totaled $233 million in the second quarter. The company’s Q3 filing further notes: “For the quarters ended September 30, ...

Throughout 2021, there’s been a number of people who have said they expect bitcoin to reach $100K by the end of this year. In more recent times, the six-digit bitcoin price forecasts continue as people are now saying a sudden move to $100K “doesn’t seem so far-fetched.” The Probability of Bitcoin Hitting $100K — ‘Don’t Rule It Out’ Many bitcoin speculators and investors believe the road to $100K is not only probable, but guaranteed. Bitcoin.com News has covered numerous individuals , experts , analysts , and advisors this year that have said bitcoin ( BTC ) is likely to reach the six-digit price range by the year’s end. As the leading crypto asset, in terms of market capitalization, hovers above the $60K zone, many still believe the $100K target is inevitable. The financial institution Standard Chartered predicted at the beginning of September that BTC ’s value could reach $100K by the end of the year or early 2022. The web portal investing.com recently discussed whether or no...

PRESS RELEASE. Austin, Texas – LGND Art Inc. announces its foremost curatorial effort to date, a major NFT art show in the form of a gallery to appear exclusively at ComplexCon 2021 . Sponsored by Coinbase , the exhibition will include global artists in a unique group that includes Mad Dog Jones, James Jean, Joshua Davis, Matt Gondek, Fvckrender, Michael Kozlowski, Victor Mosquera, Blake Kathryn, D*Face and Micah Johnson. LGND Art will host the auctions and edition offerings from Nov. 6-12. Aiming to harness the overlapping communities of art, fashion and music, LGND Art will provide a free NFT by Michael Kozlowski to all attendees of ComplexCon. This introduction to NFTs to a wider audience will facilitate an expansion to an eager crowd of culture enthusiasts. Created by artists for artists, LGND Art empowers its collective of world-renowned artists to integrate their works into the crypto ecosystem on their own terms, reach a larger audience, and secure their digital l...

On October 29, 2021, the second-largest crypto asset in terms of market valuation, ethereum, reached an all-time price high at $4,467 per unit. Meanwhile, after the Ethereum network’s Altair upgrade went live, ether gas fees have skyrocketed significantly. As Ethereum Tests New Price Highs, the Average Ether Transfer Fees Onchain Skyrocket The two leading crypto assets by market valuation have had issues with high transfer fees for many years now but this month, Ethereum’s network fees are significantly higher than bitcoin’s. On Saturday, October 30, bitcoin’s ( BTC ) average network fee according to bitinfocharts.com data shows BTC fees are around 0.00000015 BTC per byte or $3.15 per transaction. The same web portal tracking ethereum ( ETH ) gas fees notes that to move some ether, it’ll cost around 0.012 ETH or $50.53 per transaction . The data shows that on Saturday morning, ETH fees are 1,504% higher than BTC network fees. Data stemming from the website l2fees.info are a b...

On Monday, November 1, the long-awaited Kleiman v. Wright trial will begin as a federal jury plans to determine the relationship between Dave Kleiman and Craig Wright. The Kleiman estate is asking for $11.4 billion, alongside the return of intellectual property (IP) or its fair market value. While Bitcoinsv proponents and Wright’s fans believe the trial will finally prove Wright’s ostensible Satoshi claims, others believe it may shed some light on proving his theories false. Kleiman v. Wright Trial Begins Next Week — Bitcoinsv Proponents Are Calling It the ‘Trial of the Century’ Well over three years ago, the Kleiman estate decided to take Craig Wright to court over the alleged relationship with the now deceased, computer forensics expert Dave Kleiman. The high-profile billion-dollar bitcoin lawsuit started on February 14, 2018, as it is alleged that Kleiman took part in multiple business relationships that involved Wright. The Kleiman estate accused Wright of perpetrating “a sche...

The law “On Virtual Assets,” Ukraine’s attempt to regulate its growing crypto space, has been revised again and recommended for final adoption. A key parliamentary committee has given its support for the bill which was vetoed by the Ukrainian president this month. Ukrainian Deputies to Vote on Updated ‘Virtual Assets’ Law in November The saga with Ukraine’s long-awaited legislation regulating cryptocurrencies and related activities is heading towards its end. The Digital Transformation Committee at the Verkhovna Rada, the Ukrainian parliament, has discussed the amended draft law “On Virtual Assets” this week and supported the latest changes. The law has been updated after it was returned to the legislature by President Volodymyr Zelensky earlier in October. The head of state motivated his decision mainly with the argument that the establishment of a new regulatory body for the crypto market, which was envisaged in the bill, would be too expensive for the state. Zelensky propose...

PRESS RELEASE. NFTs have emerged as a unique digital asset in the past 24 months, expanding the potentials of digital arts, collectibles and gaming. The sports industry has taken to NFTs, but the functionalities of NFTs go beyond speculation, and SportsIcoin is redefining NFTs in the sporting industry. SportsIcon is connecting fans and superfans to their sporting heroes with bespoke cinematic footage delivered by NFTs. This brings a level of connection with sporting heroes not seen in the blockchain space. Built on the highly scalable Flow blockchain SportsIcon is an innovative NFT platform built on Flow, the blockchain behind NBA Top Shot, engineered by Dapper Labs and Roham Gharegozlou. Flow is a blockchain protocol designed specifically for NFTs and provides a highly scalable architecture with low transaction fees. NFT enthusiasts can accumulate NFT collectibles without the problems of high transaction fees experienced on conventional blockchains. SportsIcon aims to deliver mor...

The Constitutional Court of the Russian Federation is going to have to deal more and more often with cases involving new kinds of individual rights, its head has recently admitted. Some of them will be related to cryptocurrencies and blockchain technology, the official believes. Constitutional Court of Russia to Defend Rights Related to Cryptocurrencies Constitutional justice, as far as protection of human rights is concerned, will be increasingly influenced by the emergence of a new generation of rights, Valery Zorkin, chairman of the Constitutional Court of Russia has acknowledged. These are various rights, including environmental, reproductive and informational, Zorkin says in an article published by Rossiyskaya Gazeta, the official government daily. Having recognized that, the high-ranking representative of the Russian judiciary notes that in the very near future, the Constitutional Court will have to consider these new rights of individuals, stemming from the scientific and t...

On October 29, the publicly listed firm Canaan announced the mining manufacturer has secured a follow-on purchase order from the mining operator Hive Blockchain for 6,500 units of Canaan’s next-generation Avalon mining rigs. Hive expects to increase the operation’s hashrate from 1.2 exahash per second (EH/s) to 3 EH/s by March 2022. Hive Secures an Order for 6,500 Avalon Miners This week the Nasdaq-listed Hive Blockchain ( Nasdaq:HIVE ) and Canaan ( Nasdaq: CAN ) announced that Hive secured a follow-on purchase order for 6,500 Avalon miners from Canaan. According to the announcement, the shipment of the 6,500 mining rigs manufactured by Canaan will be shipped in three tranches. 3,000 miners will be delivered in December 2021, 3,100 miners in January 2022, and an additional 400 Avalon miners by February 2022. Hive had already acquired 10,400 miners from Canaan in January and August 2021. In recent times, Hive announced the company is constructing expansions to its largest data cent...

The popular candies and collectibles company Topps has announced the launch of its 2021 Topps NOW MLB World Series non-fungible token (NFT) collection, following the firm’s second series 2021 Topps Baseball NFT collection. Similar to the company’s past NFT drops, Topps is utilizing the Avalanche blockchain network for the new World Series NFT collection. Topps Releases MLB World Series NFT Collection During the last year, the American company that produces Bazooka chewing gum, candy, and collectibles, Topps Company, Inc., has been very focused on non-fungible token (NFT) and blockchain technology. The company has released a number of collections featuring fan favorites like Major League Baseball (MLB) and the Garbage Pail Kids. Two weeks ago the firm dropped a collection called Godzilla Rage which featured packs of NFTs that showcased 17 pages of comic animations. Following the recent 2021 Topps Baseball NFT collection, Topps has launched the 2021 Topps NOW MLB World Series NFT col...

PRESS RELEASE. The blockchain-based metaverse Dvision Network has announced that their metaverse known as ‘’Dvision World’’ will be launched on November 1st, 2021 . This event is anticipated to herald a new era for the not only Dvision ecosystem but also for the whole metaverse industry. Moreover, Dvision is holding a special NFT giveaway event, calling their users for action to pre-register and secure their spot before the metaverse goes live. Dvision World goes LIVE in 2 days! Dvision Network has shared details about the launch in a press release on its Medium blog page. According to Boburjon Muydinov, Head of Business Development at Dvision Network, users can now join Dvision World from November 1st and explore combat-ready activities and discover the greatest adventure of the metaverse. Dvision users will be able to design customized avatars and access various events while traversing the different meta-spaces (lands) within the metaverse. The launch of Dvision World was anti...

The Australian Federal Police (AFP) has confirmed that the Supreme Court of New South Wales has ordered the forfeiture of cryptocurrency belonging to a convicted hacker. “The amount of cryptocurrency forfeited, more than $1.2 million, is the largest Commonwealth forfeiture of cryptocurrency,” the AFP said. ‘Largest Commonwealth Forfeiture of Cryptocurrency’ The Australian Federal Police (AFP) announced Friday that a convicted hacker “has been ordered to forfeit more than $1.66 million [Australian dollars] in cryptocurrency and cash to the Commonwealth.” The 23-year-old Sydney offender pleaded guilty to various criminal offenses in October last year. The AFP-led Criminal Assets Confiscation Taskforce (CACT) “obtained restraining orders over cryptocurrency plus bank and Paypal accounts held in false names, but suspected to be controlled by the man,” the AFP explained. The Supreme Court of New South Wales ordered the forfeiture of his 1.66 million Australian dollars to the Commonweal...

Ripple publishes the quarterly XRP Markets Report to voluntarily provide transparency and regular updates on the company’s views on the state of crypto markets such as quarterly sales updates, relevant XRP-related announcements and commentary on market developments over the previous quarter.  As an XRP holder, Ripple believes proactive communication and transparency are part of being … Continued The post Q3 2021 XRP Markets Report appeared first on Ripple. http://dlvr.it/SBYn1L

The CEO of the world’s largest movie exhibition company, AMC Entertainment, is asking the crypto community whether his company should accept shiba inu (SHIB) for payments. The company is already planning to accept several cryptocurrencies by year-end, including dogecoin. CEO Asks Whether AMC Should Accept Shiba Inu The CEO of AMC Entertainment, Adam Aron, put up a poll on Twitter Friday asking the crypto community whether his company should accept payments in shiba inu (SHIB). AMC is the largest movie exhibition company in the U.S., Europe, and the world. As of March 31, the company owned or operated approximately 950 theaters and 10,500 screens globally. Aron wrote : “As you know, you can now purchase AMC gift cards using cryptocurrency, and our IT group is writing code so that soon we can accept online payments in bitcoin, ethereum, litecoin, and dogecoin among others. Should we strive to take shiba inu too?” At the time of writing, 44,659 votes have already been counted but th...

State-owned Russian energy giant Inter RAO is now discussing electricity supplies for Kazakhstan where crypto miners have allegedly caused a spike in consumption this year. The country is expecting the power deficit to reach 600 megawatts as demand during the winter increases even further. Kazakhstan Likely to Buy Electricity From Russian Federation to Deal With Shortages Inter RAO, a major electricity producer in Russia, is holding talks on the possible supply of electricity for Kazakhstan starting from November, a high-ranking representative told reporters. Alexandra Panina, a member of the company’s management, explained that consumption growth in Kazakhstan is around 7%, noting that for the first time the country is facing a deficit in the cold winter months. Quoted by the Interfax news agency, she stated: I am now discussing the possibility of commercial supply of Russian electricity to Kazakhstan in November. Shortages in Kazakhstan are expected to amount to 600 megawatts ...

Ripple was the first company to leverage crypto to tackle the trillion-dollar challenges associated with cross-border payments. Many companies have entered this space to address the pitfalls that businesses and consumers alike experience when interacting with our current financial system, but without addressing the underlying infrastructure that this system was built on – financial institutions, … Continued The post ODL Sees Record Growth and Traction in 2021 appeared first on Ripple. http://dlvr.it/SBYVD5

The Zimbabwean Finance Minister, Mthuli Ncube, recently told business leaders that he is not planning to make the U.S. dollar the country’s sole currency again. Government Focused on Strengthening Local Currency Instead of entertaining those calling for the dollarization of the Zimbabwean economy, Ncube suggested his ministry is in fact focused on defending the value of the zimdollar. According to a report by the Sunday Mail, the Zimbabwean minister made these comments while speaking at a pre-budget seminar held in Victoria Falls. Since its reintroduction in 2019 when it was briefly at parity with the USD, the Zimdollar has seen its official exchange rate against the U.S. dollar drop to over ZWL$90 for every one USD. On the parallel market, one U.S dollar is currently equivalent to more than ZWL$160. As previously reported by Bitcoin.com News, it is this growing difference between the parallel and official market exchange rates that prompted one of Zimbabwe’s biggest business lo...

On October 29, the total value locked (TVL) in decentralized finance (defi) protocols is around $243 billion with Curve capturing 7.76% of the dominance. Meanwhile, as ethereum has the largest dominance of TVL in defi, a number of alternative blockchains are seeing significant increases every week. Moreover, the TVL in cross-chain bridge technology has reached $22.48 billion, up 48.8% over the last month. Defi Total Value Locked Hovers Above $240 Billion — Avalanche, Fantom, Polygon, Tron, Arbitrum TVLs in Defi Increase The total value locked in decentralized finance apps has continued to climb higher this year reaching new heights. Data from defillama.com ’s dashboard shows the TVL on Friday is $243 billion with Curve’s $18.91% commanding a 7.76% dominance rating. The defi protocol Curve supports seven different blockchains, which means users can access cross-chain bridge technology to leverage the decentralized exchange (dex). Statistics indicate that Ethereum ( ETH ) is still t...

The NBA team Dallas Mavericks has partnered with crypto platform Voyager and is offering its fans a $100 bonus in bitcoin to sign up and trade crypto on the partnered platform. “We’re going to come up with new ways to introduce Mavs fans to cryptocurrency and help them understand it,” said Mark Cuban, the owner of the Dallas Mavericks. Dallas Mavericks and Voyager Offer $100 Bitcoin Bonus The NBA team Dallas Mavericks has partnered with cryptocurrency platform Voyager “to make crypto more accessible to all,” the professional basketball team said Wednesday. Announcing the partnership, Dallas Mavericks owner Mark Cuban said: The Mavs have entered into a five-year international, integrated partnership with Voyager. They are our first international partner and our first crypto partner. “I think working together, we’re going to be at the forefront of innovation,” Cuban opined. “We’re going to come up with new ways to introduce Mavs fans to cryptocurrency and help them understand it.”...

Nine days ago, bitcoin reached a new all-time high (ATH) and now the second leading crypto asset ethereum has tapped an ATH on Friday morning. Ethereum reached a high of $4,416 per unit and has since retreated around 2% down from that price position. Ethereum Reaches New All-Time Price High The second-largest crypto market capitalization belongs to ethereum (ETH) with a valuation of around $510 billion today. Currently, there is $28.9 billion dedicated to ether trades and ETH ’s market cap has a dominance rating of around 18.8%. ETH reached its all-time high during the early morning trading sessions on October 29, tapping a high of $4,416 per ETH . Year-to-date, ethereum (ETH) has gained 1,013% and during the last 30 days the crypto asset has increased by 54.7%. The stablecoin tether ( USDT ) is the top pair trading with ethereum ( ETH ) on Friday commanding 43.53% of all trades. This is followed by USD (20.65%), BTC (9.75%), BUSD (7.90%), EUR (4.03%), and KRW (3.34%). ...

Crypto miners now bring more than $230 million into the economy of Kazakhstan each year and estimates show the figure could increase significantly in the future. The industry’s leading organization has projected that the government can collect more than $300 million in taxes over the next five years. Kazakhstan Makes Millions From Cryptocurrency Miners Kazakhstan’s growing coin minting industry has the potential to pour $1.5 billion into the nation’s economy in a five-year period, resulting in over $300 million in tax revenue, according to the National Association of Blockchain and Data Center Industry which unites major companies involved in cryptocurrency extraction that account for 70% of the mining sector. Budget revenues can reach $400 million with the opening of cryptocurrency exchanges, the organization added. According to the association’s president, Alan Dordzhiev, even now legal participants in the mining market bring Kazakhstan 98 billion tenge (close to $230 million) an...

Ethereum defi protocol Cream Finance suffered an exploit yesterday that allowed attackers to steal $130 million from its holdings. The news was first revealed by Peckshield, a blockchain analytics company that discovered a flash loan had exploited the platform. This is the third hack the protocol has suffered in its history, being exploited for $36 and $29 million before, respectively. Cream Finance Hacked Yet Again Cream Finance, an Ethereum-based lending and borrowing protocol, suffered an exploit that allowed the hackers to steal $130 million worth of ether and ERC-20 tokens. According to Slowmist , a blockchain security organization, the attack netted 2,760.22 ether and 60 tokens including HBTC, USDT , BUSD, and others. The attack was perpetrated in the form of a series of flash loans in a very unorthodox way, which has led some to think the hacker was an experienced defi developer. Another blockchain security firm, Peckshield, broke the news, linking to the flash loan that cau...

Cardano founder Charles Hoskinson recently confirmed he had signed a memorandum of understanding (MOU) with the government of Burundi. This MOU agreement is Hoskinson’s first major preliminary agreement he has secured since kickstarting Cardano’s African tour in mid-October, 2021. Meetings With Burundi and Zanzibar Leaders Before traveling to Burundi, Hokisnson had visited Zanzibar where he held meetings with Hussein Ali Mwinyi, the island nation’s president. However, it is Hoskinson’s Burundi visit that has helped Cardano to achieve its latest major agreement with an African state after it signed another deal with the Ethiopian government back in April 2021. To break the news about his interactions with the Burundi government as well as Cardano’s latest achievement, Hoskinson went on Twitter and shared some key moments of his Burundi tour. In his last tweet, he said: “Yes, we signed a great MOU today.” In an earlier tweet , Hoskinson — who has since changed his Twitter profile...