Category Archives: Bitcoin

Bitcoin went through a difficult phase in the last few months.With the onset of the bull market, the prices of cryptocurrencies and thus also of Bitcoin fell sharply.But now there is an extremely good opportunity to earn Bitcoin in 2022 and benefit massively from it in the next bull market.What are the best ways to earn Bitcoin in 2022? In this article, we will discuss the basics you need to get Bitcoin and the 3 best ways to earn Bitcoin easily and safely in 2022.

Bitcoin is the first and most important cryptocurrency.It was created in 2009 based on a white paper by Bitcoin founder Satoshi Nakamoto.Bitcoin operates on the Bitcoin blockchain and uses the proof of work consensus.This offers a decentrally organized booking system.Transactions can be peer-to-peer from one user to another user without a third intermediary.

Bitcoin is therefore a decentralized currency that is not controlled by a central authority.This sets Bitcoin apart from FIAT currencies such as the euro and the US dollar.No states or banks can control Bitcoin.In recent years, Bitcoin has become a popular investment object and its price has risen massively.

Bitcoin has fallen massively in value over the past few months.Bitcoin reached an all-time high of over $68,000 in November 2021.Since then, the Bitcoin price has been falling regularly.By the turn of the year, the rate had already fallen to around $48,000.

In 2022 we saw further heavy losses, especially at the beginning of the year.In March and April, the Bitcoin price was able to recover somewhat before the price fell again massively, especially in May and June.The price even fell below the $20,000 mark in June.In July, the Bitcoin price was able to stabilize again.Today, prices are trying to recover as part of a trend reversal. Many analysts are saying that the crypto crash is over and a renewed uptrend is taking place.

If you want to earn and ultimately own Bitcoin, you need your own Bitcoin address, which gives you access to the Bitcoin blockchain.You also need yourown walletin which the Bitcoins are stored.A wallet actually stores the access data to the Bitcoin blockchain, your public key, and your private key.

In this article,we present to you the best Bitcoin wallets in 2022.

If you have a Bitcoin address and your own Bitcoin wallet, you can also earn Bitcoin as a reward for certain work and actions.A Bitcoin wallet can be based on software, exist online, or be a hardware wallet.These wallets secure your data, which gives you control over your Bitcoins.

As an alternative to earning money in the form of Bitcoins, you can buy Bitcoins in various ways.The most popular way to acquire Bitcoin is to buy it on crypto exchanges.These are specialized exchanges for cryptocurrencies.You can buy Bitcoin easily and securely on the following exchanges:

CLICK HERE TO INVEST IN BITCOIN AT BITFINEX!

CLICK HERE TO INVEST IN BITCOIN AT BINANCE!

GO TO THIS LINK TO INVEST IN BITCOIN AT COINBASE!

GO TO THIS LINK TO INVEST IN BITCOIN AT KRAKEN!

CLICK HERE TO INVEST IN BITCOIN ON FTX!

Besides buying Bitcoin, you can also earn Bitcoin by working, playing, or even participating in different promotions.Below are 3 interesting ways to earn Bitcoin in 2022:

One of the most exciting and fun ways to earn Bitcoin for free is by playing mobile and online games.You can actually play a game on your phone and thereby earn Bitcoin.

Many of these games are heavily advertised and you need to play for a long time to earn even small amounts of Bitcoins.More risky are casino and betting games where you can gamble your own money to earn Bitcoin.Of course, this should be treated with caution and carries a high risk.

Another way to earn bitcoin is working at a job that pays you in bitcoins or other cryptocurrencies.Many employers, especially companies that are active in the crypto sector, now pay in Bitcoin.

There are also companies that will pay you in small amounts of bitcoins for performing certain small tasks like answering surveys.Posting content on social media is also one of these tasks.One of the websites that offer these jobs where you can earn Bitcoin isCointiply.

Certain websites, blogs, news portals and forums may pay you in the form of Bitcoins if you provide content or write for these platforms.You can thus share your knowledge about the crypto market and earn Bitcoin at the same time.

Famous crypto forums such asPublish0xoffer Bitcoin payments to reward articles written on the platform.On the site, users can earn Bitcoin or other cryptocurrencies.

In the last few months, the value of bitcoin has fallen massively.Therefore, Bitcoin is currently very cheap to buy compared to the last few months.Therefore, it is even an advantage if you now want to earn Bitcoin in return for actions and work.You will receive more Bitcoins than usual for your work during these times. These Bitcoins could increase in value significantly in the coming months and years.

Cryptocurrencies are still highly volatile and the value of your earnings can fluctuate greatly in a short period of time.But if you can handle bitcoin and other coins and have patience, earning bitcoins can be extremely beneficial for you.

Both the earnings in Bitcoin and investing in Bitcoin are very worthwhile at the moment, since prices have fallen sharply in the recent bear market.In 1-2years, the Bitcoins you have earned could be worth many times that.

In this article, we explain why is crypto up and how will prices develop in 2022. Stick around to see

Trading Bitcoin can follow many strategies. Do you use FA or TA? Are you a day trader, swing trader, scalper,

This post is all about the top 5 cryptocurrencies that performed well in the last seven days. At the time

Read this article:
Top 3 BEST Ways to Earn Bitcoin in 2022 - ANYONE can do it! - CryptoTicker.io - Bitcoin Price, Ethereum Price & Crypto News

press release

PRESS RELEASE. Sango, the Central African Republics crypto-initiative, has set off a wave of excitement in the crypto space, fuelling curiosity and anticipation. Supported by a comprehensive Legal Framework, Sango will enable the creation of both the digital and physical infrastructure that would aid its development. SANGO will be partially backed by Bitcoin, meaning that will build up on an already existing strong foundation.

What does backed by Bitcoin really means?

Lets set things straight: SANGO, the coin of the Sango sidechain, will be fractionally backed by Bitcoin, which in simple terms means that the Central African Republic Treasury will consist of a Bitcoin reserve fund.

Historically speaking a countrys currency would be backed by reserves of gold, as has been the case until the Bretton Woods agreement. Bitcoin is also known as digital gold, being the best store of value within the blockchain space. Thus, Bitcoin is regarded as a highly valued commodity, and will be the store of intrinsic value for a currency. Also Sango will be pegged to Bitcoin, meaning that anyone will be able to operate with wrapped Bitcoin (s-BTC) in the Sango ecosystem.

As you might know, the 70s had brought the depegging of the US Dollar from gold, causing an infinite supply of money to be potentially printed if needed. Nevertheless, inflation had become a common problem plaguing traditional Fiat currencies. On the other hand, Bitcoin represents a decentralized currency, which is not bound to any central authority. Thus Bitcoin is the optimal solution for a digital store of value, allowing citizens to democratize money and currency.

Also backed by Bitcoin means that it will build on the strong technical foundation and the most secure and decentralized cryptocurrency network in the world.

Through its established reputation, secure blockchain, and public, unalterable ledger, a strong foundation is set for the Central African Republic in improving the lives of its citizens by enabling access to financial amenities and ensuring a fair and transparent distribution of wealth. In spite of how some people have seen the initiative, Sango will allow citizens to enjoy a modern and digital monetary system, with unbanked citizens gaining access to the global financial system.

Backed by the Central African Republic Government

According to President Faustin-Archange Touadra in the Sango Genesis event, the Sango Coin will be the currency for the next generation. This implied sense of confidence and assurance is an immediate result of its backed by Bitcoin element, which creates confidence and reliability within the initiative. If having the support of the President and Government was not sufficient, building on the foundation of Bitcoin offers endless benefits, mostly because of its decentralized nature and limited supply. These benefits include, partial decentralization and no risks of de-pegs, differentiating SANGO from stablecoins and CBDCs and ensuring that current monetary problems will be surpassed.

Its also been inferred that the population will have the most to gain with Bitcoin as the digital store of value behind SANGO. Citizens will be endowed with democratic control over the new digital monetary system, needing nothing more than a smartphone to make instant payments and receive money securely, finally removing the need of a traditional banking sector. There is already a wider vision behind SANGO, as the President puts it: a common cryptocurrency and an integrated capital market that could stimulate commerce and sustain growth.

In spite of its many detractors and doubters, SANGO has already attracted the attention of many important crypto figures, including CZ (Changpeng Zhao) and Michael Saylor, but also praise from other African countries exploring the possibilities of adopting a similar system.

It is clear that Sango has already produced a massive disruption, leading the way forward for further adoption of Bitcoin. It is a major step for cryptocurrencies, as they finally lead the way for a monetary revolution and allow people utmost control over their money.

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Bitcoin.com is the premier source for everything crypto-related.Contact ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Read more:
Sango - The First Digital Monetary System Built on Bitcoin Press release Bitcoin News - Bitcoin News

On July 27, the Filecoin Foundation for the Decentralized Web (FFDW) announced it will be supporting an initiative with Harvard Universitys Library Innovation Lab (LIL) called the Democratizing Open Knowledge program. With FFDWs support, LIL plans to explore decentralized technologies that can preserve digital information.

While theres a lot of information to consume in 2022, its hard to verify what is legitimate and theres a significant amount of distrust toward mainstream media sources. In the U.S. for example, Americas trust and confidence levels in the media sunk to record lows in a recent Gallup poll published this month. Out of the American adults surveyed, only 16% said they had quite a lot of confidence in todays news publications, and only 11% trusted news on television. Moreover, during the last few years, theres also been a lot of disinformation and debates over technical definitions.

For example, this past week, the term recession became a controversial subject over the definition when the White House published two blog posts that show the governments description of the words meaning. Then on July 27, over the course of a 24-hour period, the definition of the word recession on Wikipedia was revised dozens of times. Wikipedia revisions continue to this very day, and the Wiki page notes that media outlets have circulated an outdated version of this article. By simply leveraging the data saved on archive.org, for practically any month of the year besides July, the archived data shows that the definition of the word recession has changed a great deal since then.

On Wednesday, the Filecoin Foundation for the Decentralized Web (FFDW) revealed that it was working with Harvard Universitys Library Innovation Lab (LIL) in order to preserve digital information via decentralized technologies. Harvards LIL and FFDW will contribute to the Democratizing Open Knowledge program, which aims to help libraries share knowledge through technology. Technologies include specific tools like the Filecoin network and the Interplanetary File System (IPFS). The announcement on Wednesday further details that FFDW will help LIL forward the idea of increasing access to information through decentralized technologies.

FFDW is on a mission to preserve humanitys most important information, FFDWs president and chair Marta Belcher explained in a statement. This collaboration will enable the Library Innovation Lab to explore how decentralized technologies can solve real-world challenges to preserve critical data, and were thrilled to support the Librarys Democratizing Open Knowledge program, Belcher added.

IPFS is essentially a peer-to-peer (P2P) system for storing and accessing files, websites, applications, and data in a distributed file system. Filecoin is an open-source blockchain created by Protocol Labs and is built on top of the IPFS distributed network. Filecoins native crypto asset filecoin (FIL) has increased 47.3% against the U.S. dollar during the last 24 hours, and FIL is up 67.1% during the past 14 days. At the end of May, Protocol Labs detailed that it was working with the Maryland-based defense contractor and aerospace business, Lockheed Martin, to bring decentralized storage concepts to space.

According to FFDWs announcement last Wednesday, LIL and FFDW plan to fight linkrot, explore the creation of strong dark archives, and protect valuable research data. LIL has already built tools and websites like perma.cc, opencasebook.org, and the LIL Caselaw Access Project. Through collaborative efforts, LIL and FFDW want to address how technology can help establish trustworthy sources and the long-term preservation of digital information.

What do you think about the initiative FFDW and LIL are working on to preserve digital information? Do you think technology can help decentralize access to todays information and make it more reliable? Let us know what you think about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Originally posted here:
Harvard University and Filecoin Foundation for the Decentralized Web Plan to Preserve Digital Information Bitcoin News - Bitcoin News

Bitcoin mining involves a delicate balance between multiple moving parts. Miners already have to face capital and operational costs, unexpected repairs, product shipping delays and unexpected regulation that can vary from country to country and in the case of the United States, from state to state. On top of that, they also had to contend with Bitcoins (BTC) precipitous drop from $69,000 to $17,600.

Despite the BTC price being 65% down from its all-time high, the general consensus among miners is to keep calm and carry on by just stacking sats, but that doesnt mean the market has reached a bottom just yet.

In an exclusive Bitcoin miners panel hosted by Cointelegraph, Luxor CEO Nick Hansen said, Theres going to definitely be a capital crunch in publicly listed companies or at least not even just publicly listed companies. Theres probably close to $4 billion worth of new ASICs that need to be paid for as they come out, and that capital is no longer available.

Hansen elaborated with:

When asked about future challenges and expectations for the Bitcoin mining industry, PRTI Inc. adviser Magdalena Gronowska said,One of the biggest challenges that weve had in this transition to a low-carbon economy and reducing GHG emissions has been an underinvestment in technology and infrastructure by the public and private sectors. What I think is really amazing about Bitcoin mining is that its really presenting a completely novel way to fund or subsidize that development of energy or waste management infrastructure. And that's a way thats beyond those traditional taxpayer or electricity ratepayer pathways because this way is based on a purely elegant system of economic incentives.

As the panel discussion shifted to the environmental impact of BTC mining and the widely held assumption that Bitcoins energy consumption is a threat to the planet, Blockware Solutions analyst Joe Burnett said:

According to Burnett, Bitcoin mining is a bounty to produce cheap energy, and this is good for all of humanity.

Related:Texas a Bitcoin hot spot even as heat waves affect crypto miners

Regarding Bitcoin mining dominance, the future of the industry and whether or not the growth of industrial mining could eventually lead to crypto mass adoption, Hashworks CEO Todd Esse said,I believe that most of the mining down the road will be held in the Middle East and North America, and to some extent Asia. Depending upon how much they are eventually able to cut off. And that really speaks to the availability of natural resources and the cost of power.

While it is easy to assume that growing synergy between big energy companies and Bitcoin mining would add validity to BTC as an investment asset and possibly facilitate its mass adoption, Hansen disagreed.

Hansen said:

Dont miss the full interview on our YouTube channel and dont forget to subscribe!

Disclaimer. Cointelegraph does not endorse any content of product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

The rest is here:
Will the Bitcoin mining industry collapse? Analysts explain why crisis is really opportunity - Cointelegraph

This is an opinion editorial by Kudzai Kutukwa, a passionate financial inclusion advocate who was recognized by Fast Company magazine as one of South Africas top-20 young entrepreneurs under 30.

Our society today is plagued by a trust problem. The institutions that govern our world are built on trust while they have now proven to be untrustworthy. On February 11, 2009, Satoshi Nakamoto posted a thread stating,

I've developed a new open source P2P e-cash system called Bitcoin. It's completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. [] The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve.

By developing a decentralized monetary system that made trusted third parties (the banking system) obsolete, Nakamoto also chipped away at the source of their power: the money printer. Its the money printer that made it possible for a small clique of central bankers to centralize and seize control of the global monetary system. Though waning, they continue to wield this power to this day.

The top-down, centralized decision-making structure is not unique to central banking, but it pervades all spectra of the political institutions that govern our society today. The World Economic Forum (WEF), the Bank of International Settlements, the International Monetary Fund (IMF), the U.S. Federal Reserve, the European Central Bank and the United Nations are but a few examples of the central planners of our day responsible for setting policy recommendations and regulatory frameworks that range from interest rates to carbon emissions. While, for the most part, these organizations are credible and trustworthy, more often than not, the policy recommendations they make create more harm than good when implemented at the community level. A recent example of this would be Sri Lanka, which is not only bankrupt, but is also experiencing hyperinflation and shortages of basic essentials such as food, fuel and medicine.

While this economic collapse was caused by numerous factors; one of the biggest factors behind Sri Lankas demise is its support for the current thing, i.e., prioritizing ESG compliance over food production. The megazord acronym ESG is the brainchild of the U.N. and stands for environmental, social and governance. Its meant to be a set of investment criteria that guide corporations and governments to further develop sustainable investments. Sri Lanka has an exceptional ESG score of 98 that trumps that of both Sweden (96) and the US (51). In order to achieve their ESG-inspired, virtue-signaling goal of being the first organic country, the government abruptly banned the use of chemical fertilizers in April 2021. This led to a dramatic drop in yields across the board and by the time the government realized their blunder and tried reversing course in November 2021, the damage had already been done.

According to environmental activist Michael Shellenberger,

[O]ne-third of Sri Lankas farm lands were dormant in 2021 due to the fertilizer ban. Over 90% of Sri Lankas farmers had used chemical fertilizers before they were banned. After they were banned, an astonishing 85% experienced crop losses. The numbers are shocking. After the fertilizer ban, rice production fell 20% and prices skyrocketed 50 percent in just six months. Sri Lanka had to import $450 million worth of rice despite having been self-sufficient in the grain just months earlier. The price of carrots and tomatoes rose five-fold. While there are just two million farmers in Sri Lanka, 15 million of the countrys 22 million people are directly or indirectly dependent on farming.

The bigger question is, how on Earth did Sri Lanka find itself in such a self-inflicted mess? Well, the short answer is: They were ill-advised by the likes of the WEF to go down this path of protecting the environment at the expense of severely compromising their food security. ESG has officially collapsed its first country, just like the IMF structural adjustment programs did in the 1980s and 1990s.

In a 2016 article, penned in collaboration with the WEF, economist Joseph Stiglitz showered praise on Sri Lankas overall economic development and wrote, Given its education levels, Sri Lanka may be able to move directly into more technologically advanced sectors, high-productivity organic farming, and higher-end tourism.

It is this very prescription that has failed dismally and the people of Sri Lanka are now facing the dire consequences of economic destruction, not experts like Joseph Stiglitz. What is suggested as a solution for the devastation caused by terrible ideas? More horrendous ideas from the institutions that caused the initial problem. In April 2022, as the government was negotiating with the IMF for a bailout, the United Nations Development Programme doubled down by recommending that the Sri Lankan government should become a candidate for a debt for nature swap that would unlock debt relief in exchange for investing a fixed sum on nature conservation. Furthermore, in May 2022, Sri Lanka signed onto a green finance taxonomy with the International Finance Corporation that, among other things, includes a commitment to organic fertilizers. It appears that they are determined to hold the line in support of "the current thing."

Despite the apparent failure of these policies in Sri Lanka, the Dutch government also threw their hat into the ring and is actively pursuing similar policies. The Dutch government is aiming for a 50% reduction in overall nitrogen greenhouse gas emissions by 2030. A 25 billion euro Nitrogen Fund was set up to help farmers (voluntarily) quit, relocate or downsize their business and make them more nature friendly (e.g. organic farming just like in Sri Lanka). The Dutch Minister for Nitrogen and Nature Policy, Ms. Christianne van der Wal, indicated that she expects about one-third of the Netherlands 50,000 farms to disappear by 2030 as a result of the plans and went on to point out that expropriation of farms was on the table as a measure of last resort should the farmers refuse to cooperate. Is this the part where they will own nothing and be happy?

Furthermore, in order to comply with this draconian emissions target decreed by the government, at least 30% of all cows, chickens and pigs will have to be culled. This has sparked protests by farmers who object to these green dictates. These protests are reminiscent of the Canadian Trucker protests earlier this year, and we have now seen farmers from Spain, Italy, Germany and Poland staging similar protests in a show of solidarity with their Dutch counterparts.

In addition to being the second largest exporter of food in the world after the U.S., the Netherlands is also the largest exporter of meat within the EU. Should the Dutch central planners have their way, its likely the Netherlands will join Sri Lanka on the list of countries destroyed by the current thing. Similarly, in an effort to cut emissions by half by 2030, both the U.S. and U.K. currently have different versions of pay farmers to not farm schemes in place. 35,000 acres of rice fields in California will remain unused, while in the U.K., dairy and meat farmers are being encouraged to retire in exchange for a one-time payment of up to 100,000 pounds. The Canadian government also intends to implement similar policies in an effort to reduce nitrogen greenhouse gasses by 30% by the year 2030. Not to be outdone, the New Zealand government unveiled plans to tax livestock for belching and flatulence, which they hope will reduce emissions. Such is the infinite wisdom of the central planners running the world today.

On the surface, ESG virtue-signaling may look like overzealous attempts by governments to do obeisance to the current thing in meeting their emissions targets, but these policies do seem like deliberate attempts to massively shrink the farming sector while nationalizing agricultural land in the process. According to the U.N., there is a looming food catastrophe around the corner. In a recent report, the World Food Program warned that 670 million people on average will be on the verge of starvation by the end of the decade. If this is true, why are governments around the world hindering the work of farmers?

While the WEF central planners are actively promoting climate-smart farming methods to make the full switch to net-zero, nature-positive food systems by 2030, the catastrophe in Sri Lanka is proof that its a path that likely ends in disaster. While this approach works for smaller communities, as of today, organic farming alone isnt enough to sustain large-scale farming. A full switch to organic farming would require more land use something the Dutch dont have a lot of and thus, more agricultural inputs to match current production levels required to feed large urban populations. Ironically, organic farming is unsustainable both economically and environmentally. For example, a permanent transition to organic production in Sri Lanka would reduce yields of every major crop; about 30% for coconut, 50% for tea, 50% for corn and 35% for rice. Why any sane government would embark on such a radical experiment is mind boggling.

According to Bloomberg, ESG is the fastest growing asset management class, which currently has $35 trillion assets under management and is expected to exceed $50 trillion by 2025. Despite sounding altruistic on the surface, ESG is actually a political metric that is used to indirectly control private companies by central planners through influencing the direction of capital flows to investments that they deem sustainable.

Its a mechanism to further centralize capital markets in the hands of the central planners who get to pick winners and losers based on adherence to a subjective and opaque criteria, instead of on the basis of value created. ESG is analogous to feudalism, in that an elite group of central planners and their cantillionaire cronies allocate capital to causes that further enrich themselves in the name of social good. This state of affairs is in stark contrast to Bitcoin which upends this dynamic by guaranteeing inalienable property rights to all participants within the network, not just to an elite few. In the same way that the Chinese Communist Partys social credit system scores an individual based on their allegiance to the state, corporate companies as well as nation-states pledge their fealty to woke institutional investors and the Davos elite with their ESG scores.

ESG is a mirror image of our fiat monetary system that distorts price signals within the economy, making it almost impossible to accurately measure which economic activities are creating the most value. Just like the fiat system, ESG adherence also encourages misallocation of capital resources and disrupts meaningful productivity. Ernst & Young also point out that ESG is not only confusing and opaque, but is also vulnerable to rampant greenwashing. With this in mind, it is astonishing that sovereign states are jostling over each other to obtain higher ESG scores by implementing policies that are self-destructive. How can an unjust monetary system produce a just society? Or as Jeff Booth puts it in The Price Of Tomorrow, How is it possible to solve climate change from an economic system that requires inflation? Any nation or company that destroys its productive capacity will collapse no matter how high their ESG score is.

In his classic essay, The Use of Knowledge in Society, renowned Austrian economist Friedrich Hayek wrote,

The economic problem of society is thus not merely a problem of how to allocate given resourcesif given is taken to mean given to a single mind which deliberately solves the problem set by these data. It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality.

Central planners are not omniscient and therefore cannot accurately steer an entire economy that is composed of infinite complex systemic interactions that each require specialized knowledge. Knowledge which isnt resident in any single individual or institution. Despite this obvious fact, a handful of central planners are slowly collapsing food production with their policies that do not factor in the unintended consequences of their decisions.

As a fully decentralized system, Bitcoin is the antithesis of central planning. It didnt just become the beacon of a more just financial system but it represents a more superior governance model. Thanks to proof of work, all the nodes are able to arrive at the same truth independently without a central authoritys coordination. The true embodiment of rules without rulers.

Our current financial system is fueled by credit expansion and consumption. Such a system requires exponential growth to sustain itself. The end result is that the money supply continues to expand and money gradually loses its ability to coordinate economic activities efficiently. Price signals are mutilated in the process, thus erecting an economic Tower of Babel.

ESG is an attack vector that gains control of capital markets through this endless manipulation of money. The monetary policies that are being pursued globally by central planners are at odds with technological gains that would result in lower prices of goods over time. Instead, society is being kept on the treadmill of ever-increasing prices that require more consumption and more production ad infinitum in order to protect a credit-based system that would otherwise implode.

Political metrics like ESG do not hold sway over Bitcoin because its a monetary system that is anchored in objective truth. This opens up the room for capital allocation based solely on economic potential and value created as opposed to woke capital allocation. De-growth strategies, top-down centralized management of resources and control of capital allocation via ESG are features (not bugs) of the current financial system. Countries like Sri Lanka are prime examples of the destruction ESG has caused.

The attacks clothed as ESG that are being meted out against farmers are strikingly similar to those that are usually directed at bitcoin miners. As the most secure computer network in the world, Bitcoin is censorship resistant and doesnt bow to the tyrannical whims of central planners who have intentions of weaponizing the financial system against protesters. Unlike the Dutch farmland that is at risk of being confiscated, bitcoin cannot be confiscated via legislation; its money that you truly own. Its for this reason that the energy usage of bitcoin mining has been incessantly attacked by ESG evangelists through coordinated media campaigns that portray bitcoin mining as an existential threat to the environment. This has resulted in some jurisdictions, like the EU, considering banning proof-of-work mining, like how the Dutch government is trying to get rid of some of its farmers. The truth is, bitcoin minings energy mix has the highest penetration of renewables of any industry in the world, plus it monetizes stranded energy that would have otherwise been wasted. A fact the ESG warriors conveniently ignore.

The time has come for the creation of bitcoin circular economies and for us to support our farmers in order to protect our food systems from Malthusian central planners. Instead of bowing to their zero-sum worldview, trade groups like the Beef Initiative should become the norm. These bitcoin-based commodity markets and/or exchanges can also play a big role in providing farmers with access to global markets in a frictionless manner. In addition, orange-pilling nation states is now more important than ever for two major reasons: First, it will give nations alternatives for raising capital, like the volcano bonds, that are not tied to woke capital with diabolical strings attached. Second, it will produce examples of the prosperity a nation with sound money can achieve. Samson Mow and JAN3 are doing great work on this front, but there is room for more to join.

In conclusion, should current trends of kowtowing to ESG by governments continue, Sri Lanka will end up being a harbinger of larger things to come in the months ahead.

This is a guest post by Kudzai Kutukwa. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.

See original here:
How The Attacks On Farming And Bitcoin Are Connected - Bitcoin Magazine

The global crypto market has faced changes in the influx of capital, but it has retained its gains. The latest data shows that Bitcoin has seen a lowering trend in the influx of capital, but it hasnt yet turned bearish. In comparison, Ethereum is facing a negative trend as it has turned bearish. The rest of the market is uncertain as different coins behave differently. How the market will behave in the upcoming hours is yet to be seen.

A Ukraine high-ranking official has shared thoughts on crypto assets, referring to them as important. The most significant feature of crypto is its cross-border transactions, which makes them convenient for international use. It is a swift, simple, and convenient solution. It has proved its significance further in the Russia-Ukraine war as donations flow has continued to Ukraine via crypto.

Alex Bornyakov expressed his views about using crypto in this war and how these donations have proved fruitful. He said that even though the market has crashed, people are still donating via crypto. He also shared the Ethereum and Bitcoin addresses via which their war effort can be supported.

Here is a brief overview of the current market situation, analyzing the performance of Bitcoin, Ethereum, and others.

Bitcoin has continued near the $24K level as the gains have kept it afloat. The recent changes have allowed Bitcoin to exit the fear zone, but it needs to add value. The increase will help it inch closer to the previous highs.

The latest data for Bitcoin shows that it has added 0.08% over the last 24 hours. The weekly data shows an addition of 6.43%. The increase has helped it retain its position at a substantial point.

The price value for Bitcoin is in the $23,845.68 range. If we compare the market cap value for Bitcoin, it is estimated to be $455,845,514,477. The 24-hour trading volume of Bitcoin is about $27,880,817,794.

Ethereum merge has proved a good omen for users as the price value has significantly increased. The question before market analysts is how far Ethereum can go before the final merge takes place. It would be something that no one is sure about, but a considerable rise in its value is expected.

The value of Ethereum has seen fluctuations over the last 24 hours. The latest data shows that it has shed 0.39% in the last 24 hours. The weekly performance shows an addition of 9.47%.

The current price value for ETH is in the $1,703.60 range. If we compare the market cap value for this coin, it is estimated to be $207,442,240,856. The 24-hour trading volume of this coin is about $14,913,005,115.

Arweave has also seen a considerable increase in value as the influx of capital continues. It has added 9.70% over the last 24 hours. The seven-day data shows an addition of 9.79%. The mentioned increase has brought its price value to the $15.13 range.

If we look at the market cap value for AR, it is estimated to be $509,997,049. The 24-hour trading volume of this coin is about $78,960,934. The same amount in its native currency is about 170,377 AR.

Celo has also remained bullish as the market has continued to grow. The increase has brought an addition of 4.82% over the last 24 hours. The weekly performance shows that it has added 10.44%. The increase has brought its price value to the $1.04 range.

The market cap value for CELO is estimated to be $472,446,832. The 24-hour trading volume of this coin is about $50,036,787. The circulating supply of this coin is about 450,833,963 CELO.

The global crypto market has seen a continuation in its gains. These have helped it retain its value as there has been little change. The value of Bitcoin and other major names has remained almost unchanged, showing the balance between efflux and influx. Retaining equilibrium has helped maintain the global market cap value unchanged; It is currently estimated to be $1.10 trillion.

More here:
Bitcoin, Ethereum, Arweave, and Celo Daily Price Analyses 30 July Roundup - Cryptopolitan

Bitcoin (BTC) sought to pin $24,000 as support before the July 29 Wall Street open as fresh inflation data sparked worries for the euro.

Data from Cointelegraph Markets Pro and TradingViewshowed BTC/USD maintaining most of its latest gains after spiking to nearly $24,500 overnight.

The days macro action delivered painful news for the European Economic Area (EEA), as the latest estimates for euro inflation came in at 8.9% for July still climbing from Junes 8.6%.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (39.7%, compared with 42.0% in June), followed by food, alcohol & tobacco (9.8%, compared with 8.9% in June), non-energy industrial goods (4.5%, compared with 4.3% in June) and services (3.7%, compared with 3.4% in June), an accompanying report compiled by Eurostat read.

The data provided a curious contrast in some European Union member states, where growth outperformed expectations despite the highest inflation figures in the history of the euros existence. This led some commentators to suspect that all was not what it seemed.

The European Quandary, nonetheless, buoyed the United States dollar, which had been retreating from its latest two-decade highs against a basket of trading partner currencies through July.

The U.S. dollar index (DXY) touched 105.54 on the day, its lowest reading since July 5, before rebounding to near 106 at the time of writing.

A key inverse correlation for crypto markets, additional DXY advances could signal fresh pressure on BTC price action.

DXY just dropped to the previous high now support and seems to be holding. A possible bounce here to 107, 108 before further drop, popular trading account Mikybull Crypto predicted in a fresh Twitter update, adding that this scenario would entail a pullback to $22,800 for BTC/USD.

----

In an arguably unexpected bullish turn, meanwhile, Arthur Hayes, ex-CEO of derivatives platform BitMEX, implied that a weaker dollar was now imminent.

Related:Bitcoin bull run getting interesting as BTC price hits 6-week high

Following the Federal Reserves latest key rate hike, Hayes stated that the central banks return to accommodative monetary policy and more neutral rates had now begun.

Fed Chair Jerome Powell, he wrote on July 28, would not be increasing hikes any longer, something he called the Powell pivot.

The theory, as Cointelegraph recently reported, revolves around the Fed having little room left to maneuver thanks to rate hikes increasing the likelihood of a deeper recession in the U.S. economy.

The latest GDP data released this week had already placed the U.S. in a technical recession thanks to two straight quarters of negative numbers.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Link:
Bitcoin holds $24K as USD taps 3-week lows on eurozone inflation report - Cointelegraph

A director with the International Monetary Fund (IMF) has warned of further selloffs in both crypto assets and equities. He further warned that more crypto tokens could fail.

Tobias Adrian, director of Monetary and Capital Markets for the International Monetary Fund (IMF), warned about further selling pressure in the crypto market and more crypto token failures in an interview with Yahoo Finance Wednesday.

He said:

We could see further selloffs, both in crypto assets and in risky asset markets, like equities.

There could be further failures of some of the coin offerings in particular, some of the algorithmic stablecoins that have been hit most hard, and there are others that could fail, he detailed. The IMF director also expects crypto to drop even further amid a recession.

In May, cryptocurrency terra (LUNA) and stablecoin terrausd (UST) imploded, prompting SEC Chairman Gary Gensler to warn that a lot of crypto tokens will fail.

Adrian also warned about the potential for fiat-backed stablecoins to experience runs, something that both Treasury Secretary Janet Yellen and the Federal Reserve have also cautioned about.

Speaking of tether (USDT) in particular, the IMF executive stressed, Theres some vulnerability there because theyre not backed one to one. He noted that some stablecoins are backed by somewhat risky assets, emphasizing, it is certainly a vulnerability that some of the stablecoins are not fully backed by cash-like assets.

Nonetheless, Adrian does not see an immediate threat on par with the 2008 financial crisis, stating:

What was very worrisome in the 2008 crisis was that the banks were highly exposed to the shadow banks, and we dont see this exposure of banks to shadow banks through crypto at the moment.

Moreover, the IMF director noted that regulations are needed to protect investors and the financial system. Noting the sheer number of cryptocurrencies in existence, Adrian opined:

Regulating the coins themselves is going to be difficult, but regulating the entry points such as exchanges and wallet providers to invest in those coins, thats something that is very concrete and very feasible.

The IMF also published a report Tuesday stating: Crypto assets have experienced a dramatic sell-off that has led to large losses in crypto investment vehicles and caused the failure of algorithmic stablecoins and crypto hedge funds, but spillovers to the broader financial system have been limited so far.

What do you think about the comments by the IMF director? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Visit link:
IMF Warns of Further Crypto Selloffs and More Coins Failing Markets and Prices Bitcoin News - Bitcoin News

Bitcoin (BTC) spiked to one-week highs on July 17 amid warnings that traders should not trust current BTC price action.

Data from Cointelegraph Markets Pro and TradingViewshowed BTC/USD reaching $21,600 on Bitstamp, its best performance since last Sunday.

The pair saw a fresh leg up during the weekend, this nonetheless coming on the back of thin, retail-driven "out-of-hours" liquidity with institutions out of the picture.

With Bitcoin prone to "fakeout" moves both up and down in such conditions, there was thus little appetite to believe that current trajectory would endure as the weekly close loomed.

"Don't let CT noise change your vision of how things really are," popular social media account, Il Capo of Crypto, told followers on the day, referencing Crypto Twitter narratives.

Also preparing to exit the market, it appeared, were traders, as major exchange Binance saw heightened inflows in the 24 hours to the time of writing.

According to data still being compiled from on-chain analytics platform CryptoQuant, on July 17, inflows neared 17,500 BTC, the most on a single day since June 22.

Nonetheless, some commentators remained upbeat on the short-term outlook. Cointelegraph contributor Michal van de Poppe, who had called for $21,200 to break for upside to continue, got his wish as the market picked up overnight.

"Overall, strength is still there and I'm assuming further upside is happening. Crucial barrier for now; $21K," he had explained prior to the move.

As Cointelegraph reported, potential upside targets included $22,000 and the 200-week moving average at around $22,600.

The latest order book data from Binance via analytics resource Material Indicators meanwhile showed a fresh wall of buy support clustered at the $21,200 breakthrough point, worth some $20 million.

On weekly timeframes, the July 17 close had the potential to be significant.

Related:Bitcoin is now in its longest-ever 'extreme fear' period

At $21,300, Bitcoin would not only seal its second "green" weekly candle but also its highest weekly close since early June.

A matter of $500 nonetheless stood between that outcome and continuation of the downward trend, since the July 10 close had come in at around $20,850.

That event, popular trader and analyst Rekt Capital noted at the time, marked a lower high for the week, alongside "declining buy-side volume."

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

See the original post here:
Bitcoin hodlers will 'soon see why' $21.6K BTC price pump is fake trader - Cointelegraph

Cryptocurrencies have taken a tumble in 2022.

Chesnot | Getty Images

An improvement in macroeconomic factors, a particular trading pattern and a further shakeout of companies and projects could be the key ingredients required for bitcoin and the broader crypto market to bottom, industry players told CNBC.

Bitcoin has plummeted more than 70% from its record high in November with around $2 trillion wiped off the value of the entire cryptocurrency market.

For the last few weeks, bitcoin has been trading within a tight range between $19,000 and $22,000 with no major catalyst to the upside and traders trying to figure out where the bottom is.

Here are some of the factors that could help the crypto market find a floor.

Bitcoin has been hurt by the macroeconomic situation of soaring inflation that has forced the U.S. Federal Reserve and other central banks into hiking interest rates which has hurt risk assets such as stocks.

Cryptocurrencies have seen some correlation with U.S. stock markets and have fallen in tandem with stocks.

There are also fears of a recession but an improving macroeconomic picture could help the crypto market find the bottom.

"I think if inflation is under control, the economy is under control, there is no really severe recession" then the market will stabilize, CK Zheng, co-founder of a cryptocurrency-focused hedge fund ZX Squared, told CNBC in an interview.

U.S. inflation data for June came in hotter-than-expected on Wednesday, deepening fears that the Fed will get more aggressive in its fight to tame rising prices. However, there are some signs it could be peaking.

If there are clues that the economy and inflation are "getting under control," that could help the crypto market find a bottom, according to Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno.

"If we see signs of this this month or even over the next few months, it would give more confidence to the market that a bottom is in across all risk assets including equities and crypto," Ayyar said.

Meanwhile, a "softer" Fed and the peaking of U.S. dollar strength, could help the market find a bottom, according to James Butterfill, head of research at CoinShares. Butterfill said a weaker economic outlook could push the Fed to slow down its tightening push.

"A turn around in Fed policy and the consequent peaking of the DXY [dollar index] would also help define a true floor, we believe this is likely to happen at the Jackson Hole meeting at the end of the summer," Butterfill said, referring to an annual meeting of central bankers.

One of the key features of the latest boom and bust cycle in crypto has been the amount of leverage in the system and the contagion that has caused.

Firstly, there have been lending platforms that have promised retail investors high yields for depositing their crypto. One of those companies is Celsius, which last month was forced to pause withdrawals as it faces a liquidity issue. That's because Celsius lends out this crypto from its depositors to others willing to pay a high yield and then pockets the profit. That profit is then supposed to pay for the yield Celsius offers to its retail customers. But as prices crashed, that business model was put to the test.

Another company that highlights the issue with excess leverage is crypto-focused hedge fund Three Arrows Capital or 3AC, which was known for its bullish bets on the industry. 3AC has an extensive list of counterparties that it is connected to and has borrowed money from.

One of those is Voyager Digital, whichfiled for Chapter 11 bankruptcy protectionafter 3AC defaulted on roughly $670 million from the company.

A number of other companies including BlockFi and Genesis also reportedly had exposure to 3AC.

Three Arrows Capital has itself plunged into liquidation.

"The deleveraging process we don't know if it is complete or not. I think it is still in the process of washing out the weak players," Zheng said, adding that when there are no more surprises with companies collapsing, that could help the market find a bottom.

CoinShares's Butterfill said so-called miners, which use specialized high-power computers to validate transactions on crypto networks, could be the next victims of the washout. With crypto prices under pressure, there will be many mining operations that are unprofitable. Butterfill notes there have been some mining start-ups that raised funding last and ordered equipment that has either not been delivered or turned on.

"A collapse in one of these mining startups or the associate lender is likely and would help define a trough to the cryptomarket," Butterfill told CNBC.

Luno's Ayyar explained some of the trading patterns that might help define a bottom for the market. He said there could be a "capitulation candle," where the price of bitcoin drops even further and "wipes out the last remaining weak hands," before "moving back up strongly."

If this happens, that indicates "liquidity has been captured at lower levels and the market is now ready to go back up," Ayyar said.

He noted that this happened in March 2020 when bitcoin fell more than 30% in a day before steadily climbing over the subsequent weeks.

A second pattern could be an "accumulation phase" where bitcoin bottoms and spends a few months trading within a range before moving higher.

In both cases, that could see bitcoin drop further to between $13,000 to $14,000, which would be a roughly 30% drop from the cryptocurrency's price on Wednesday.

Zheng of ZX Squared said that bitcoin at between $13,000 and $15,000 is a possibility. But if institutional investors step in then that could help to support prices.

See the article here:
For bitcoin to bottom here's what the market wants to see and it could mean a further 30% drop - CNBC