Bitcoin News and Finance: What You Need to Know

Cryptocurrencies are a popular investment among Iranians and estimates suggest that the number of those who already own one coin or another may be as high as 12 million. The majority of Iranian traders prefer the services of local crypto exchanges, the chief executive of one of them claims. Iranians Said to Transfer $180 Million in Crypto Daily Despite the lack of proper rules for most of the crypto space and the government stance on the matter, a growing number of Iranians have been investing in decentralized digital money over the past months and years. “An estimated seven to 12 million Iranians own cryptocurrencies,” according to Hamed Mirzaei, CEO of Bitestan, one of the country’s crypto exchanges. “Iranians’ daily crypto transactions is estimated between 30 and 50 trillion rials ($181 million), while there is no regulation over trade in cryptocurrencies,” Mirzaei was recently quoted as saying by Peyvast magazine. According to a report by the English-language business portal Fi...

Some of the premier figures in crypto gathered at the Waldorf Astoria, Shanghai on October 27th, 2021, to celebrate a new alliance with a mission to advance the blockchain industry. The Blockchain Infrastructure Alliance (BIA) was inaugurated with a dinner hosted by the crypto-fiat payment network, Alchemy Pay , alongside co-hosts Polygon Network, NEAR Protocol, Draper Dragon, and Bit.Store. The event was graced by the presence of over a hundred celebrities and leaders of the industry, including Tencent, Alipay, Mastercard, Binance, Huobi, OKEx, Polygon, NEAR, NEO and many others. At the dinner, John Tan, the CEO of Alchemy Pay, gave an opening speech on behalf of Alchemy Pay a nd took the opportunity to present the company’s ecosystem as well as remark on the outlook for BIA. Tan showed just how much Alchemy Pay’s network had developed. After two years of rapid expansion, the Alchemy Pay ecosystem now boasts more than 150 core nodes, including banks, merchant networks, DeFi proto...

A warning by Tesla and Spacex CEO Elon Musk about the mounting national debt in the U.S., government spending, and the proposal to tax unrealized capital gains has highlighted the benefits of cryptocurrencies, particularly bitcoin. Elon Musk Says ‘Spending Is the Real Problem’ Tesla CEO Elon Musk made several tweets about the U.S. national debt and government spending last week. He also warned against the proposal to tax unrealized capital gains, aimed at billionaires, which was scuttled Friday amid questions about whether it would even be constitutional. Musk believes that if the proposal were to go ahead, the government would not stop at billionaires. “Eventually, they run out of other people’s money and then they come for you,” he tweeted early last week. Commenting on a Washington Post article stating that he would “pay as much as $50 billion under the tax over its first five years, while Bezos could pay as much as $44 billion,” the Tesla CEO tweeted to his 61.7 million follo...

Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, has warned that the U.S. is “sliding into depression.” He said that a giant crash is coming, after which “a new depression” will follow. Bitcoin is among his recommendations for smart investing. Robert Kiyosaki Sees Giant Crash Coming, Followed by a New Depression Famous author and investor Robert Kiyosaki has warned of a new depression in the U.S. following a “giant crash.” Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries. The famous author tweeted Friday that the U.S. is “sliding into depression.” He said President Joe Biden and the Fed are “ripping off people,” noting that they “need inflation to prevent new depression.” Kiyosaki stressed: “Inflation rips off the poor. Inflation makes [the] rich richer. Biden and F...

Shark Tank star and the owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto trading platform Voyager have given some advice to people thinking of starting to invest in cryptocurrencies. “You don’t have to spend a lot of money in order to learn. It’s not like the stock market where it’s almost impossible,” Cuban said. How to Get Into Crypto, What Investors Should Know The owner of the NBA team Dallas Mavericks, Mark Cuban, and the CEO of crypto platform Voyager, Steve Ehrlich, gave some advice on how to get into cryptocurrency last week during the partnership announcement between the Dallas Mavericks and Voyager. They were asked whether it was too late to get into cryptocurrency and what new crypto investors should know. Responding to the question: “Is it too late to get into crypto?” Voyager CEO Steve Ehrlich replied: It’s never too late and, actually, now is the right time. I still think it’s the first half of the first quarter on crypto adoption. “About...

PRESS RELEASE. Singapore-based Enjinstarter (EJS) has completed its Token Generation Exercise (TGE), raising a total of $500,000 via a collaborative fund raising effort over 4 launchpads namely Genesis Shards , Chainboost , Starter.xyz and Enjinstarter’s own launchpad. This followed a highly-successful, oversubscribed private sale that raised $5 Million from prominent Crypto VCs and highly influential angel investors from the Blockchain and Digital Assets industry. According to Enjinstarter CEO, Prakash Somosundram, “Enjinstarter’s native token (EJS) presents an exciting opportunity for token holders who want to ride the massive trend of Blockchain Gaming and Metaverses. We are also honoured to have had the strong support of our investors who not just contributed financially, but also supported us through the introduction of key opinion leaders and also to quality projects to feature on our launchpad”. “With an impeccable track record of investing within the crypto gaming sect...

87 days ago, the Ethereum network successfully implemented the London hard fork upgrade, and ever since then over 700,000 ether has been burned, or more than $2.4 billion using today’s exchange rates. 702,886 Ethereum Burned Since the London Hard Fork Data from Dune Analytics indicates that on October 31, 2021, otherwise known as Halloween, 702,886 ethereum ( ETH ) has been burned. The burning of ethereum started on August 5, 2021, when the Ethereum network successfully implemented the London hard fork upgrade and EIP-1559. At the time, the London hard fork upgrade included roughly five different changes but the most transformative were EIP-1559 and EIP-3554 . While EIP-3554 changed the Ethereum network’s difficulty bomb, EIP-1559 changed Ethereum’s fee rate to a new scheme that makes the crypto asset ether deflationary. Just recently, Ethereum implemented the Altair upgrade which helps smooth the consensus process from proof-of-work (PoW) to proof-of-stake (PoS). After Altair w...

All around the world cryptocurrency supporters and proponents of blockchain technology are celebrating the 13th anniversary of the Bitcoin white paper. The summary of the inventor’s creation was published on metzdowd.com’s Cryptography Mailing List on Halloween 2008, as it gave birth to an asset with a market valuation of over $1 trillion and sparked the creation of over 10,000+ cryptocurrencies that followed Satoshi Nakamoto’s innovative design. Introducing the Proof-of-Work Chain: A Solution to the Byzantine Generals Problem 13 years ago at approximately 2:10 p.m. (EDT), Satoshi Nakamoto published the Bitcoin white paper , a summary of the innovative network and native cryptocurrency that changed the world. The 12-part white paper starts off with an indented paragraph called an abstract which explains that Bitcoin is a “purely peer-to-peer version of electronic cash [that] would allow online payments to be sent directly from one party to another without going through a financial i...

2021 has been the year of decentralized finance (defi), non-fungible tokens (NFTs), and meme tokens as well. During the first week of August, roughly 30 dogecoin-like crypto assets existed and today, there are now 45 tokens with the terms “dog,” “shiba,” and “inu” in their names. Many of these coins have seen astronomical gains this year, outperforming some of the most sophisticated blockchain assets. Who Let the Dogs Out? Doge-Like Meme Tokens Are No Joke When it Comes to Market Gains Digital meme-based currencies have done extremely well this year in terms of fiat gains. At the beginning of the year, all eyes were on dogecoin (DOGE) , when the original meme crypto skyrocketed in value. Dogecoin has gained a whopping 10,360% year-to-date which is much larger than BTC ’s 350% gain this past year and ETH ’s 1,014% 12-month gains. After spending years below a U.S. penny per token, DOGE surged to $0.731 per unit six months ago on May 8. Close to eight years ago the Dogecoin network ...

OVR AR Metaverse goes to a whole other level. Italian company OVR is announcing today the creation of the so-called OVR Land Map. OVR Land Mapping: the metaverse to another level Thanks to the powers of AI, in fact, OVR is able to generate a 3D map of the physical world starting from simple pictures, no lidar or other expensive HW needed, just the smartphone in your pocket. All of the OVR users will be able to contribute to creating the biggest detailed 3D map of the real world. This revolutionary technology of open mapping system will bring the OVR AR Metaverse to a whole other level: currently, when geolocalization an AR asset in an OVRLand there’s the limitation of the GPS accuracy that has meters of error outdoor while is totally unreliable indoor, a scanned OVRLand will have a localization precision up to ì0 cm. A new AR experience That opens up a whole new realm of opportunities in creating AR experiences that before were not technically feasible: localizing exper...

The Federal Security Service of the Russian Federation has issued a draft order allowing its agents to request information from cryptocurrency platforms among other organizations. The move follows changes made to the anti -corruption legislation in Russia, the agency noted. FSB Wants Access to Crypto Data for Anti-Corruption Checks in Russia Russia’s main law enforcement agency, the Federal Security Service (FSB), has decided to grant its employees additional powers to acquire information from various organizations and institutions as part of efforts to combat corruption. A draft order has been published for public discussions and the FSB welcomes “independent anti-corruption expertise” on the matter. According to the document, FSB agents will receive permission to file information requests with credit organizations, tax authorities, and government bodies responsible for the registration of rights to real estate during anti-corruption inspections. “Operators of information system...

Alchemy, one of the leading infrastructure providers for blockchain and web3, has raised $250 million in its series C funding round, giving it a valuation of $3.5 billion. The round was led by a16z, which considers we are at a turning point in the web3 space. The company has multiplied its revenue by 15x in the last six months, a testament to the impact it has caused on the ecosystem. Alchemy Reaches $3.5 Billion Valuation Alchemy, a web3 and blockchain infrastructure provider, has reached a milestone by raising $250 million in its series C funding round. The round was led by known VC companies a16z, Lightspeed, and Redpoint, with the participation of Coatue, Addition, DFJ, and Pantera as well. With this new funding round, Alchemy reached a valuation of $3.5 billion, an outstanding value for a company that was publicly launched just a little more than a year ago. The company, that compares its role in the blockchain ecosystem with the role of AWS in the current internet structure,...

Patreon, the membership platform, is pondering the idea of letting creators in its platform issue their own creator coins. The statement, that constituted a revelation, was offered by Patreon CEO and co-founder Jack Conte and Chief Product Officer Julian Gutman during The Information’s 2021 Creator Economy Summit. This is consistent with a report presented last September that evaluated using crypto as part of the platform. Patreon Flirts With Crypto Patreon, the well known membership organization, is now pondering the idea of introducing crypto elements to add new revenue paths, according to statements from CEO Jack Conte and Chief Product Officer Julian Gutman. During The Information’s 2021 Creator Economy Summit, both directives admitted the idea of introducing a membership token for content creators is on the table. While Patreon has explicitly forbidden the introduction of coins as an investment form in its platform, this rise in the crypto along with other circumstances that ...

According to the latest Finder Cryptocurrency Adoption Index, in October 2021, Nigeria had the highest rate of cryptocurrency ownership globally, at 24.2%. Bitcoin Is the Most Popular Coin in Nigeria In addition to finding the West African nation as the country with the highest proportion of citizens that hold cryptocurrencies globally, the survey also discovered that “of the 1 in 4 online adults in Nigeria who own some form of cryptocurrency, bitcoin is the most popular coin in Nigeria at 66.5% of crypto owners.” Alternatively, this means more than half of the 24.2% of Nigerian respondents that own cryptocurrencies are in fact bitcoin holders. On the other hand, the survey findings suggest ethereum ( ETH ) is the second most popular coin with Nigerian cryptocurrency holders, at 23.8%. Despite this seemingly high rate of interest in ETH , the ratio of Nigerians holding this cryptocurrency relative to other countries is still lower, the survey data suggests. In fact, according t...

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...