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Why 2020 will be the best year yet for Bitcoins Lightning Network – Decrypt

For Bitcoins scaling solution, the Lightning Network, 2019 passed in a flash of innovation.

Developers made major progress in enabling large sums to be transferred across the network; the first neutrino mobile wallet was launched; the first Lightning conference opened; the first major exchange integration went live, and more. Huge milestones, as Ryan Gentry, lead analyst at crypto investment firm MultiCoin Capital, told Decrypt.

But for Lightning, a super-fast payments layer on top of the Bitcoin blockchain that allows users to send and receive bitcoin quickly and cheaply, 2020 promises plenty more thrills, and perhaps some spills too.

This is a very exciting time for Lightning, said Samson Mow, chief strategy officer at Canadian blockchain services provider Blockstream. For 2020, I expect to see continued growth of the network and further privacy improvements as well.

Payments on the Lightning Network are becoming easier, with developers anticipating further progress with multi-path payments. These allow for multiple channels to be used together in concert, meaning that payments can be split into smaller chunks. That, in turn, means that large amounts of bitcoin can be sent both quickly and cheaply.

But multi-path payments arent the only option being worked on.

Roy Sheinfeld, co-founder of bitcoin wallet and payment services provider Breez, said that the startup is working on asynchronous payments via Lightning Rod, a new offline-style payments protocol that will enable users to make payments without the need for mobile nodes to be online at the same time.

Channel capacity is also set to increase, he predicted. So-called Wumbo channels are in the works. These would not only remove the current 0.167 BTC channel limit, but leave payment participants free to set it as high as they wish.

Another upcoming innovation to look out for is Trampoline routing. This should enable clients to simplify their network transactions by relying on a so-called trampoline node to relay payments, instead of having to do it manually.

Well also see more exchanges jumping on board. Bitfinex just added support for the Bitcoin Lightning Network, and Bitfinex wallets can now send and receive bitcoin using Lightning.

In February, Twitter and Square CEO Jack Dorsey announced that Squares Cash App will integrate Lightning capabilities sometime in the future. Dorsey is a high profile Bitcoin cheerleader as well as an investor in Lightning; hes recently doubled down by funding the development of Lightning.

In the same month, Jeremy Welch, the chief executive of Casa, which provides Bitcoin multisig key security and Lightning nodes, told Decrypt that Dorseys support for Lightning via Square would simply be huge.

Messaging functionality is in the works, too. A peer-to-peer, instant messaging protocol, Whatsata portmanteau of WhatsApp and satoshiwas created for Lightning in November. It enables encrypted messages to be sent without the use of a third party, like Facebook or WhatsApp. For the time being, its free; implementing a low-cost version is the main challenge.

Theres even a Lightning ATM in development that will allow you to convert all your spare change to satoshi.

All that progress comes at a price, however.

For 2020, I'm anticipating tension between those on the network that want to onboard millions of users now, and those that want to go slow and prioritize user privacy first, said Ryan Gentry, lead analyst at crypto investment firm MultiCoin Capital.

Gentry questions whether the networks liquidity management tools are currently robust enough to handle a sudden influx of payments. It will be very interesting to see how the network holds up if a game like Litenite or Raiki goes viral, he said.

We have to check that the network can scale, that the clients can scale, admitted Sheinfeld.

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With Breez, Sheinfelds ultimate aim is to improve Lightnings UX. We want to obfuscate complexity, and make it a seamless experience, like with the Internet, he said. Lightning service providers, he believes, will play a leading role in onboarding users, performing a similar function to Internet Service Provider (ISPs).

If we want to provide UX thats on a par with fiat, were not there yet, but I think well be there in six to 12 months.

If the Lightning networks going to achieve mass adoption, it has some hurdles to overcome, thenbut its going flat-out. In the meantime, why not help things along by building your own Lightning node.

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Why 2020 will be the best year yet for Bitcoins Lightning Network - Decrypt

Bitcoin Price Could Rally to $9K Before a Massive Collapse, Heres Why – Cointelegraph

Bitcoin price (BTC) has been in a sidewards range for several weeks now, with some people on team bear calling for fresh lows in the region of $3,000 while the bulls have been calling for astronomical all-time highs soon. One thing that is apparent in the market, is that you have to take it one week at a time.

With Bitcoin currently heading towards the mid-$7,000 range, is it time to flip bullish? Or is this yet another low liquidity Sunday pump to create CME gap-filling opportunities?

Daily crypto market performance. Source: Coin360.com

Whether you are leverage trading, or simply moving your Bitcoin into a stablecoin during the dips, if you are not capitalizing on the weekly CME gap, youre missing a trick. However, the more obvious these gap fill trades become, the more likely it is that they will soon become a thing of the past.

Christmas week is a week that I took off trading. The reason is that the CME was closed on the 24,25 and 26th of December, which meant attempting to trade a gap fill was slightly more difficult. As the gap left on Friday, Dec. 20 would have needed to fill on Monday, Dec. 23, and then Monday, Dec. 23 left a new gap to be filled on Friday, Dec. 27.

Next week is set to be the same, with the CME Holiday Calendar citing that trading will be closed Dec. 31 to Jan. 2, 2020.

BTC USD daily chart. Source: TradingView

It seems that traders with greater exposure to Bitcoin are driving the price during the weekend when the volume is thinner, and then waiting on institutional traders to fill the gap the following week.

However, with institutional money taking an extra 6 days off over the holiday break, it means more thin volume periods for the price to be driven by whales in this 24/7 market.

So while the bankers may sleep, Bitcoin, in fact, does not sleep, and this could open up a window for a short-term rally before the bear cycle resumes.

BTC USD MACD weekly chart. Source: TradingView

The Moving Average Convergence Divergence (MACD) indicator is showing early tell-tale signs of a bullish reversal. However, I dont expect this to continue. As can be seen in the image above, the MACD line changed its bearish course on Dec. 16, but why?

I believe that due to a lack of institutional interest over the Christmas period, the market was easily moved upwards, which has changed the trajectory and with it, has continued to print pale pink candles, which are getting shorter by the week, usually indicating a cross into green territory. This has given some hope of a relief rally before the real pain begins for Bitcoin.

But where could we see the digital asset move?

BTC USD BB Weekly chart. Source: TradingView

Using Bollinger Bands (BB) Indicator overlayed with my indicator that shows pivot points based on momentum, Bitcoin appears to have entered a short-term bull phase that will most likely see a rejection around the moving average of $9,000.

I believe this to be the case, as short-term low liquidity pumps falter around the moving average, as can be seen at the end of October. This is where Bitcoin price experienced an unnatural pump, which saw the digital asset climb around $2,500 in 48 hours, and despite a momentary wick above the MA, it failed to hold above this point and soon resumed its bear trend, feeding off the blood of hodlers at the bottom of the BB.

As such, with the institutional players easing up over the holiday period, its a perfect opportunity for the price of Bitcoin to be pushed up to around this level.

At this stage, you may be asking why I only see a short-term relief rally and not a full reversal. The reason for this lies in the Relative Strength Index (RSI) indicator.

BTC USD RSI weekly chart. Source: TradingView

The RSI is currently very much in the middle with a reading of 42.20 on the weekly. This doesnt signal anything to anyone, and as such, would not attract any significant money into the market. When the RSI is planted between 30 and 70, were simply in a ranging market where scalpers feed and hodlers bleed.

Right now, anyone with any significant cash holdings would be hesitant to go all-in on an asset at this point, whether it be Bitcoin or anything else. As such, this to me says we must first see more downside before Bitcoin becomes an attractive investment opportunity for smart money.

You only have to look at the end of 2018 and the beginning or 2019 where Bitcoin held an average price of $4,000 to see why the RSI is a valid indicator for buying Bitcoin, as buying in the oversold territory would have seen you gain over 300% on your investment throughout 2018.

BTC USD RSI DAILY chart. Source: TradingView

The daily RSI is also incredibly neutral, more-so than the weekly RSI. Its currently sitting on 52.16, which again sends no buying or selling signal to investors.

A pump towards $9,000 would certainly plant this in oversold territory, which could spark a sell-off, with people trying to cover their hemorrhaging losses after FOMO-ing in at $10,000 levels earlier this year thanks to a wave of social media influencers prematurely declaring that BTC is in a bull market.

Incidentally, the monthly RSI is reading the same as the daily, so no need to look at that today. However, I will look at the monthly BB.

BTC USD BB monthly chart. Source: TradingView

As Bitcoin continues to stay in a sidewards range, the inevitability of an extinction-level event that will cause even the die-hard Bitcoin maximalists to question why they HODL lines of code, looks more and more likely.

Having pierced through the MA two months in a row, and with the red candles getting longer by the month, it seems that Bitcoins support is only around $400 away, before falling to painful lows.

The support on the Bollinger Bands is currently $2,550 and whilst Bitcoin has never actually touched the support on the monthly BB, thats not to say it wont have a good run towards it should $7,010 fail to hold in the short term.

With the CME only being open 2 days next week, expect the unexpected. This could go both ways (and I expect it probably will). But from a bull's perspective, Id be looking at the moving average on the weekly of $9,000 as the target before being rejected. If it continues past this price, the next level of resistance is $11,300. However, this doesnt seem likely.

After the CME gap fills at $7,265 which is likely to happen tomorrow history tells us that the price will revert to the previous trend. However, should it continue to fall, the Bitcoin price only needs to fall a further $150 before it finds itself at the support of $7,010.

If this fails to hold, its game over Bitcoin, and the road of pain will truly begin. Any move below $7,000 could quickly recover on Friday, Jan. 3 depending on when the CME closes Monday evening.

But since this is still the holiday season, I dont expect the real bear trend to resume until the week commencing on Jan. 6 once all the suckers have gone long. That being said, if it did continue to fall, $6,800 is the support on the daily BB for Bitcoin, which is a key level to take note of.

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

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Bitcoin Price Could Rally to $9K Before a Massive Collapse, Heres Why - Cointelegraph

Bitcoin Cash surges nearly 14 percent to close first week of 2020 – Yahoo Finance

Bitcoin Cash (BCH), a fork of Bitcoin and the fourth-largest cryptocurrency by market map, has jumped in price by almost 14 percent within the last 24 hours.

BCH is now trading for right around $220 per coin, roughly a $20 jump from where it stood just yesterdayand a nearly $40 increase compared to two weeks ago.

Perhaps 2020 will prove to be a more positive year for Bitcoin Cash than the second half of 2019. Following a high of nearly $500 per coin during the summer, BCH has been on a steady decline ever since.

In mid-November, for example, the cryptocurrency led the market in terms of losses, along with its close crypto-cousin Bitcoin SV.

Nevertheless, Bitcoin Cash seems to be growing in popularity in regions such as Venezuela, where it is purportedly accepted by more shops and businesses than Bitcoin. So all hope for BCH hodlers isnt lost.

Meanwhile, crypto traders today are seeing green across the board. Bitcoin, for example, is up nearly 6 percent (possibly as a result of todays airstrike in Iran). Ethereum is up around 5 percent and trading at $133 per coin, and Bitcoin SV is up 10 percent and currently worth $102 per coin.

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Bitcoin Cash surges nearly 14 percent to close first week of 2020 - Yahoo Finance

Bitcoin Just Reversed And Its Likely Heading $7,400 – newsBTC

Bitcoin price is climbing with a bullish angle above $7,000 against the US Dollar. BTC is likely to accelerate higher if it clears the $7,260 resistance.

Recently, there was a downside extension in bitcoin below the $7,100 and $7,000 support levels against the US Dollar. BTC price spiked towards the $6,880 support and traded to a new 2020 low at $6,863.

However, the bulls took a stand, resulting in a sharp upward move above the $7,000 resistance. Besides, there was a break above the $7,080 resistance area. More importantly, there was a break above a key bearish trend line with resistance near $7,120 on the hourly chart of the BTC/USD pair.

The pair spiked above the 50% Fib retracement level of the downward move from the $7,530 high to $6,863 low. Though, the upward move was capped by the $7,260 resistance area.

Additionally, the price is facing hurdles near the 61.8% Fib retracement level of the downward move from the $7,530 high to $6,863 low. Bitcoin is currently correcting lower below $7,200.

On the downside, an initial support is near the $7,120 level and the broken trend line. The next major support is near the $7,080 level, below which the price is likely to resume its downtrend.

Conversely, the price might continue to rise above the $7,260 resistance. The next major resistance is near the $7,400 level. An intermediate resistance is the 76.4% Fib retracement level of the downward move from the $7,530 high to $6,863 low.

If the price continues to rise above $7,380 and $7,400, the next stop for the bulls may perhaps be $7,460 and $7,500. Any further gains could lead the price towards the $7,500 resistance area in the coming sessions.

Bitcoin Price

Looking at the chart, bitcoin price is reversing losses above $7,100 and the 100 hourly SMA. If there is another surge above $7,260, it will most likely confirm a trend change and a fresh increase towards $7,500.

Technical indicators:

Hourly MACD The MACD is currently gaining strength in the bullish zone.

Hourly RSI (Relative Strength Index) The RSI for BTC/USD is now well above the 50 level.

Major Support Levels $7,120 followed by $7,080.

Major Resistance Levels $7,260, $7,380 and $7,460.

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Bitcoin Just Reversed And Its Likely Heading $7,400 - newsBTC

$65 Mln Worth of Bitcoin Transferred to Bitstamp and Binance from Unknown Wallets – U.Today

As the New Year has started, not only tremendousamounts of XRP have begun to move but also gargantuan sums in Bitcoin.

Over the past two hours a $36.5 mln worth of BTC has been moved between the Bitstamp exchange and several unknown wallets. On January 1, Whale Alert showed one more transaction between an unknown wallet and Bitstamp totalling $8,974,648 (1,250 BTC).

In the comment threads, some are expressing opinions that Bitcoin whales are moving their funds.

The Whale Alert account reports that over the past hour three transactions have takenplace between Bitstamp exchange and two unknown wallets.

Even though the third transaction also mentions an unknown wallet, the page with details provided by Whale Alert states that it was done between two wallets that belong to Bitstamp.

Image via Twitter

On January 1, a wallet with an unidentified owner moved 1,250 BTC to Bitstamp as well.

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Prior to that, the Twitter account of Whale Alert reported several consecutive transactions between unknown wallets and the Binance crypto trading giant. The amount sentto both ends totals almost $30 mln in Bitcoin.

Image via Twitter

In the comment thread, the majority of users believe that a Bitcoin dump is coming after these large BTCtransactions. One user, however, believes that these huge amounts transacted mean an approaching Bitcoin price surge.

A user @cryptzos predicts that these massive BTC movements being made could mean a 10%-20% percent Bitcoin price drop.

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$65 Mln Worth of Bitcoin Transferred to Bitstamp and Binance from Unknown Wallets - U.Today

Hoskinson: Cardano will replace Bitcoin as number one by end of 2020’s – Crypto News Flash

The CEO of Input Output Hong Kong (IOHK), the company behind Cardano, Charles Hoskinson, has announced in a recent Ask me Anything (AMA) on YouTube that Cardano will replace Bitcoin as the number one cryptocurrency by the end of 2020. However, he did not commit himself to a specific the metric by which he wants to judge success (market capitalization, number of users, transaction volume, etc.).

In order to achieve market leadership, Hoskinson says that the major parties in the Cardano ecosystem (IOHK, Emurgo and the Cardano Foundation) will focus on commercializing the project. As CNF reported, the Cardano Foundation recently announced a collaboration with McCann Dublin. Together with the advertising agency, which has also worked with Microsoft and LinkedIn, a gigantic marketing campaign is planned for 2020. Hoskinson said:

This year in particular we really gonna start hitting the commercials hard. I have announced to my company that we are on a Cardano first strategy. [] We gonna get very aggressive about the commercialization of the technology as Shelley turns on and as Goguen turns on.

Hoskinson goes on to describe how Cardano aims to reach over 1 billion users over the decade and aims to become a true social operating system:

We are particularly interested in investing resources at IOHK and our partners ar EMURGO and the Cardano Foundation are investing a lot of time to make sure we fully understand. And as we finish 2020 and go through the decade, this is something that we are continuously researching, and the better we get, the better the feedback loop, the faster we can grow and get to those billions of users and become a true social operating system that benefits everyone in the world.

According to Hoskinson, these three things are crucial to displacing Bitcoin and becoming the number one cryptocurrency: Commercialization, incentives and technology. At the same time, he also showed his appreciation for Bitcoin, stating that the oldest cryptocurrency will always be valuable. He further stated that Bitcoin is now accepted by governments worldwide. Accordingly, Bitcoin is a gateway to smooth the acceptance of Cardano.

Hoskinson further noted that Cardano is a commercial project. Accordingly, all parties involved are interested in the network growing and being used by many people.

Commercialization, technology and incentives are the three things which need to be line for us to achieve that number one spot. [] We build Cardano not as a academic project. Its a comercial product so we want to see it grow.

He attributed Bitcoins growth to the mining incentive system. Accordingly, staking is a key success factor for Cardano:

In terms of incentives we look at Tokenomics []. The reason why Bitcoin were so succesful was that [] Satoshi created an incentive for mining. [] So with the launch of the testnet we are learning a lot about the business of stakepools and we are learning a lot about maintaning a cryptocurrency and creating stability there. We have already over 500 stakepools registered.

A focus in 2020 will be on cooperation to create new use cases for Cardano.

One thing we gonna be focused on a lot this year is collaboration and to learn from other people, work with other people. Whether that will be through standard groups like Hyperledger or W3C or that will be through direct relations to other cryptocurrency projects. For example, Horizen I felt we always had a good relationship with. But there are many more.

You can watch the complete AMA session below.

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Last Updated on 5 January, 2020

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Hoskinson: Cardano will replace Bitcoin as number one by end of 2020's - Crypto News Flash

Forget the Bitcoin price! Id invest 5k to help me make a million like this – Yahoo Finance UK

Bitcoin became increasingly popular in 2019. The value of the cryptocurrency rose substantially during the year, although it has since retreated.

As such, investors might be thinking of taking advantage of this recent price decline to add the currency to their portfolios. However, the Bitcoin price could fail to offer better returns than the stock market. Many FTSE 100 and FTSE 250 stocks have better growth prospects and income credentials.

Therefore,investing 5,000 in the stock market could be a better means of making a million.

At the time of writing, Bitcoins price has fallen to around 5,000. This might look cheap compared to its trading history, but weve no way of knowing whether the current price represents good value for money.

Thats because the Bitcoin price doesnt trade on fundamentals. The price is entirely dependent on sentiment its only worth as much as other investors are willing to pay.

Its much easier to ascertain the value of FTSE 100 and FTSE 250 stocks. Unlike Bitcoin, the constituents of these indexes produce tangible cash flows. We can use these figures to create an underling fundamental value for each stock.

Therefore, its easy to figure out whether or not these assets offer value at current prices. Lower valuations can provide the opportunity to buy high-quality businesses at discount prices. Such a margin of safety can help investors achieve market-beating returns over the long term.

Focusing on companies that have solid balance sheets with favourable growth outlooks and robust cash flows is likely to produce better returns over the long term than speculating on an asset without any underlying fundamental value.

As the Bitcoin price has languished over the past 12 months, FTSE 250 investors have seen the value of their portfolios rise substantially. The index gained nearly 29%in 2019, including dividends.

According to my calculations, over the past two decades, the index has produced an average annual return for investors in the region of 11%. At this rate, it would be relatively straightforward to make a million with an initial investment of 5,000, and subsequent monthly contributions.

An initial investment equivalent to the current Bitcoin price,coupled with monthly contributions of 300, would grow to be worth just under 1m after 30 years at an average annual rate of return of 11%.

While 2020 could be a volatile year for the FTSE 250, the fact the index has produced such impressive returns over the past two decades should reassure investors that, over the long term, the stock market is an attractive place to invest your cash.

Considering all of the above, now might be the time to focus your efforts on the stock market rather than Bitcoin. The cryptocurrency price might look attractive after recent declines but, from a long-term perspective, stocks and shares seem to offer a better risk/reward ratio.

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Rupert Hargreaves owns no share mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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Forget the Bitcoin price! Id invest 5k to help me make a million like this - Yahoo Finance UK

Ronnie Moas and Vinny Lingham Come to Blows Over $20K Bitcoin Bet – Cointelegraph

Two well-known Bitcoin (BTC) figures have resorted to a painfully public Twitter exchange to settle an argument over a $20,000 unpaid bet.

The heated debate, which is ongoing, revolves around a pledge which investor Ronnie Moas made in 2018.

If Bitcoin was not worth $28,000 by the end of last year, Moas said he would donate the lump sum to FreeRoss.org, the charity working to free jailed former Silk Road owner, Ross Ulbricht. The bet was made with Vinny Lingham, CEO of blockchain identity startup Civic.

With BTC/USD trailing at $7,200 on Jan. 1, 2020, Lingham asked Moas to confirm he had made the payment as promised. Moas then surprised by saying he would no longer honor his commitment.

The tone swiftly became unfriendly, with Moas describing Lingham as a f*cking bastard and demanding he explain the near-total drop in the price of Civics native cryptocurrency, CVC.

I will keep my word and distribute $20,000 in 2020 to organizations highlighted at my website, he replied, explaining he would instead divide up the FreeRoss funds between up to five charities of his choosing. In an ironic twist, Moas advised Lingham:

Read my last three posts ... and the ones preceding from the last 24 hours you f*cking jackass ... stop making a fool out of yourself in a public forum.

Moas claimed he had more than a dozen reasons not to send money to FreeRoss.

Responses predictably sided with Lingham, as Moas had nonetheless reneged on the original terms of the wager.

As the argument gained traction, other Bitcoin figures, including What Bitcoin Did podcast host Peter McCormack, began pledging to replace the lost funds out of their own pocket. FreeRoss then thanked McCormack and his fellow participants, who each pledged $1,000, for their donations.

Further efforts continue to take place on the Bitcointalk forum, where users are selling collectible items.

They include an altered Venezuelan bolivar note, emblazoned with the heading Banco de Bitcoin and an image of Charlie Shrem in sunglasses. Shrem, who is now free, was also implicated in the highly controversial takedown of Silk Road by United States authorities.

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Ronnie Moas and Vinny Lingham Come to Blows Over $20K Bitcoin Bet - Cointelegraph

Opinion: Bitcoins price will go up if everyone does this one thing – Decrypt

Bitcoin has one flaw: it is too transparent. Thats what Matt Odell, advisor to bitcoin payments company Bottle Pay and prominent bitcoiner, claimed yesterday, in a podcast hosted by Ministry of Nodes co-founder Stephan Livera.

Every problem has a solution, though. In this case, it means accepting the transparency of the Bitcoin blockchain and adapting to it by protecting your own financial privacy. If enough people do this, Odell argued, it could do wonders for the Bitcoin ecosystemand, potentially, its price.

I think Bitcoin becomes more valuable, becomes more resilient and robust long term if individual users practice financial privacy because that is the single biggest vulnerability that Bitcoin has today, he said.

One way of achieving financial privacy is by using mixing services. Mixing is a process where you anonymously swap bitcoin with some other anonymous person, making it harder for anyone trying to keep a birds eye view of the money shifting over the blockchain. But it's not without controversy.

The podcast focused on the relative merits and drawbacks of using mixing services to hide the transaction history of some bitcoin. While they do make it harder for blockchain analytics companies to track what's going on, if you use a mixing service you could be swapping your coins for stolen bitcoin, or bitcoin that had been used to fund a terrorist attack.

The issue had been raised by Trace Mayer, known for leading the proof of keys movementencouraging everyone to take their bitcoin off custodial walletswho had pointed out the downsides of using mixing services in recent interviews.

Odell defended mixing services, arguing they are akin to virtual private networks (VPNs), where individuals swap IP addresses to mask where they are accessing the Internet. Because these projects are to protect the average user, they have to protect all users, he argued. Theres no way to know whats a good user and a bad user. Because as soon as youre able to delineate whats a good user and a bad user, then you have centralization.

While Odell acknowledged that mixing services currently have low volumes, making them less effective, he said this proves people need to use them more frequently. In particular, he said that anyone using centralized exchanges would benefit from using them to counteract the amount of data the exchange is collecting about them.

However, exchanges are legally required to perform know-your-customer protocols on their users, and this can include using blockchain analytics companies to survey their users. Were everyone to start mixing their coins, it could lead to a crackdown by exchanges. Odell said, I think [Mayer] is right in that a lot of these exchanges will start blocking transactions with CoinJoin history. CoinJoin being a popular mixing service.

This could have wider implications for those wishing to look after their own bitcoin, Odell argued. If they say CoinJoin is illegal and youre trying to withdraw from, lets say CashApp, and you withdraw from CashApp, you go through the five hops and then it goes to CoinJoin, are they going to block your account for that? he asked, adding that if they do, that amounts to completely banning self custody.

Despite the drawbacks and a potential clash of heads in the future, Odell maintained that mixing services are key to protecting financial privacy when using Bitcoin. Financial privacy, he said, is the only thing separating ourselves from dystopian governments with the power to financially enslave us.

I look at the world today and I look at all my peers that are using Venmo and PayPal, all these credit cards, all these centralized payment processors and theyre basically exposing their whole lives not only to these companies but also to the governments that theyre affiliated with, he said. If you have an authoritarian come in, theyre going to use that against you.

Time to get those mixers running.

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Opinion: Bitcoins price will go up if everyone does this one thing - Decrypt

From crypto currency to chocolate, where to spend your Bitcoin – ZDNet

I have made a few dollars in BitcoinSV since I started paying to post on blockchain-based apps like Twetch. I have been investigating whether paying to post will shape the future of the social internet. But where can you spend your hard-earned Bitcoin?

With a lot of help from Twitter users @Street5Wall, $DiegoSV, and @BsvDevs, I have found a few places -- from the hundreds of online and physical stores where I can spend my virtual cryptocurrency and turn it into tangible goods. Here is a selection of vendors around the world where you can spend your cryptocurrency.

Adelline is a Korean cosmetics company that sells a range of beauty products and will ship internationally.

Las Vegas, NV-based Shiny Leaf produces skin and hair care products and a range of bath and body products. BitcoinSV is accepted amongst its other payment options.

AGRsicurezza is a business consultant, focusing on health and safety at work, training, and project management services. It accepts BitconSV payments.

Fivebucks is a global marketplace where vendors will design anything from logos to business cards and websites for an agreed fee. You can register your hand cash wallet $ID and transfer the cash over using Bitcoin.

North Greece-based Lord is an online fashion website that sells underwear to individuals and trade. It will accept a wide range of cryptocurrencies.

To invest in cryptocurrencies, the app Abraenables you to buy ad sell currencies, fund your cryptocurrency from your credit card account, or withdraw currencies to an external wallet.

Italia Clickis an international food distributor that embraces technologies such as Bitcoin and uses them to accept payments. In November, it added crypto to its payment options and will accept payment in several different cryptocurrencies such as Bitcoin SV, Etherium, and Ripple. I can vouch for the deliciousness of the chocolate!

Crete-based 35North sells extra virgin olive oil from where the 35th parallel north crosses the mountains of Crete. Although its Twitter account states that FIAT and crypto payments are accepted, the online shop only offers the choice to pay by card or PayPal. You will need to make a special request for your crypto to be accepted via the online store.

Hot Hogs BBQ is a food truck in New Hampshire, which gets enthusiastic reviews from customers and won WMUR Best Barbecue in NH 2019. It accepts Bitcoin, dash, BitcoinSV, and Bitcoin cash for your BBQ, but hold fire before hot-footing it over to New Hampshire. Hot Hogs is now closed until the spring.

The Lucky Hot Dog is a food truck in Chicago serving dogs, burgers, beef, and chicken. Payment by Bitcoin, card, or cash.

The Yarron Valley Bottleshop in Australia accepts Bitcoin, amongst other payment methods for drinks. You do need to buy your alcohol in-store instead of online.

RPGStash offers MMORPG services and tradable video game items for Runescape, Fortnite, Tibia, Diablo 2, etc. It accepts Bitcoin as payment.

GamerAll offers skins, keys, and services for games such as Rust, Dota 2, Team Fortress 2, Escape from Tarkov, and others. It also sells console and game titles and has over 100 ways to pay, including Bitcoin.

Medical device provider, Premier Medical Inc., has an enthusiastic president who supports Bitcoin payments for its medical products.

UK-based Performance Ticket Printers will print customized tickets for your event or membership organization and will accept cryptocurrency.

GPS Tracker Shop offers vehicle trackers and fleet tracker solutions for business, law enforcement surveillance, and family safety. It accepts BitcoinSV on its online store.

HostingSSi is a provider of web hosting, domains, VPNs, Streaming, and SSL Certificate focused on Venezuela and Latin America. It accepts Bitcoin and Litecoin payments, amongst others.

The Living Room of Satoshi is a crypto payments gateway in Australia that enables you to pay bills.

Lithuania-based Greitai is an online travel site, part of the Otravo group offering online airline tickets, hotels, and car rental searches. It offers cheap flights to England, Ireland, USA, Spain, Italy, France, etc.

There is a graphical map of vendors around the globe who accept Bitcoin and are marked with pushpins on the OnChain BSV/Maps site and the Satoshi Maps site. If you know of any vendors who accept Bitcoin SV, you can add your own marker to the map.

The Cryptwerk website has a list of services and vendors who accept Bitcoin across a range of offerings.

Agora has a marketplace selling Bitcoin related items, amongst others. ClassifiedSV is a Craiglist-like site allowing trading for goods and services using BitcoinSV.

There are many more outlets, and the list is growing daily. Which is your favorite Bitcoin vendor that we should know about?

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From crypto currency to chocolate, where to spend your Bitcoin - ZDNet

Bitcoin, Ethereum are most profitable investments of the decade – Decrypt

As the decade draws to a close, it's time to look at the investments that were the most successful. And, unsurprisingly, cryptocurrencies top the list of the most profitable investments of the decade.

Up first, is Bitcoin. The first cryptocurrency, built by an anonymous programmer known as Satoshi Nakamoto, it led to the creation of many Bitcoin forksalternative versions running on similar codeand thousands of altcoins, either using the same code or trying out new features. But, if you got in early, you had the chance to make a quick buck.

Since the first bitcoin was available for trading, its price has accelerated 62,500 percent. Outshining many traditional stocks, it even spawned an entire culture built around prices "mooning" and the promise of lovingly labelled "lambos." Due to the extreme rise, many critics have called it a Ponzi Scheme and say that its price pumps are bubbles that keep popping. But despite the criticism, an entire industry has been built around Bitcoin and other cryptocurrencies, leading many countries around the world to start adoption blockchain technology.

Much of the promise of blockchain technology can be seen with Ethereum. It offers features known as smart contracts, which allow for the creation of decentralized apps. These have interesting applications, particularly in the world of finance.

The price of Ethereum has shot up too. Even though the price has dropped heavily since its all-time high in January 2018, the price of Ethereum is still up by 17,900 percent. One ETH is currently worth $132.

However, some traditional stocks have not been far off. Netflix had a strong performance this decade, rising 4,280 percent. It's not too surprising given how ubiquitous it now is. Even new films are now launching on Netflix instead of heading to the cinema. But it's epic rise has led to an increase in the number of competitor video streaming companies. Will it be able to fend off the competition going into 2020?

Along with the rise of Netflix, and watching TV at home in general, another company did particularly well. Domino's Pizza saw an increase in share price of 3,000 percent. Who knew pizza and TV were a winning combination?

In line with the trend of not needing to go outside, Amazon grew considerably in the last decade, rising 1,250 percent. It's worth noting that not only does Amazon ship products to your door but it also offers a TV streaming service. What's next, Amazon pizza?

Those doing yoga, trying to work off the 1,000 calorie pizzas, helped to boost the price of Lululemon shares, a retailer known for creating activewear and clothes for "most other sweaty pursuits." They rose by 1,300 percent.

On a different track, healthcare company Abiomed saw a 2,000 percent rise in the last decade. It creates medical devices, such as artificial hearts.

Shotly behind Amazon is NVIDIA, known for creating computer chips. Interestingly, it pulled in $1.95 billion in revenue from its crypto mining business. But it wasn't without controversy. In September, critics accused it of surreptitiously influencing the development of an upgrade to the Ethereum network. But nothing was ever proved.

Other profitable investments of the decade were payments processors, including Mastercard and VISA, up 1,100 percent and 760 percent respectively. Google shares rose by 350 percent and Apple shares went up by 840 percent.

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Bitcoin, Ethereum are most profitable investments of the decade - Decrypt

2010s In Bitcoin: The Year 2017 – Forbes

Im reviewing the 2010s in Bitcoin. This is the story about 2017 in Bitcoin. Read about 2016here.

The price of Bitcoin reached in December 2017 nearly $20,000 per bitcoin. The bitcoin price traded between $930 and $978 on December 29, 2016, and surpassed $1,000 on New Years Day 2017, then $5,000 in October, and $10,000 in November.

On the news front, the year didnt start out so hot for Bitcoin. The Peoples Bank of China met in January with major bitcoin exchanges and advised them to adhere to the relevant laws and regulations.

Bitcoin saw a drop in trading volume due to new trading fees implemented by Chinese exchanges Huobi, OKCoin, and BTCC. OKCoin and Huobi would soon thereafter halt withdrawals for an entire month, in order to undergo an upgrade.

The U.S. Securities and Exchange Commission (SEC) rejected in March the Winklevoss Bitcoin Trust, an exchange-traded fund, for which the twins had first filed in 2013. Bitcoin immediately sold off, with the price falling 18%, from almost $1,300 to $1,060.

"[T]he Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest,the SEC stated.

Organizer David Bailey concludes Bitcoin Conference 2019.

The agency said a Bitcoin ETF would need "surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated."

The twins didnt sweat it. "We remain optimistic and committed to bringing COIN [the proposed ticker] to market, and look forward to continuing to work with the SEC staff, Tyler Winklevoss, chief financial officer of Digital Asset Services, stated. We began this journey almost four years ago, and are determined to see it through. We agree with the SEC that regulation and oversight are important to the health of any marketplace and the safety of all investors."

Just days after the ruling, the Bitcoin price had climbed back to its pre-ETF decision price.Then, between May and September, the Bitcoin price rocketed. Bitcoin set a new all-time high after all-time high before a brief correction.

At the end of May, Bitcoin increased to more than $2,000 for the first time ever, and weeks later it broke through $3,000.But, one day after Bitcoin surpassed $3,000, the price fell $300 in one hour.

The Bitcoin price eclipsed $5,000 the first week of September, but fell below $3,400 on September 14. One day later, the price fell below $3,000.

Amid the price increase, JP Morgan CEO Jamie Dimon said in September that Bitcoin is a fraud.

Its worse than tulip bulbs, Dimon said at CNBC-Institutional Investor Delivering Alpha. It wont end well. Someone is going to get killed.

He added: Its just not a real thing, eventually it will be closed.

By mid-October, the price of Bitcoin had yet again surpassed $5,000. In November and December, the price went even more parabolic. Bitcoin hit nearly $18,000 on December 15, which was a more than 1,700 percent increase since the start of the year and an 80% increase in December alone.

Between December 16-17, the price of Bitcoin increased 5% in 24 hours to it's all-time high of $19,783.06, a 1,824% increase since Jan. 1.

One of the biggest market corrections Bitcoin has seen to date followed, as the price fell below $11,000. The Bitcoin price swiftly increased yet again to more than $16,000, but, by Dec. 28, had fallen to about $13,500. It ended the year 2017 at just above $14,000.

Thats 2017 in Bitcoin. Coming soon: 2018.

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2010s In Bitcoin: The Year 2017 - Forbes

These Are the Bitcoin Stories You Loved in 2019 – Bitcoin News

2019 was a crazy year for cryptocurrency enthusiasts and a number of interesting events happened throughout the last 12 months. Its hard to keep track of the day-to-day activities taking place within the cryptosphere and there may be a few incidents some of our readers missed. At news.Bitcoin.com we took the opportunity to scan our most popular articles from 2019 in order to create a year-end list to share with our readers.

Also Read: A List of Self-Proclaimed Bitcoin Inventors and Satoshi Clues Debunked in 2019

Bitcoin.coms writers are entrenched in the cryptosphere and every day our writing team is on the hunt for cryptocurrency-related news. During the last 365 days, a number of our writers have published news stories seven days a week to keep our readers informed. Theres been a number of developments in 2019, as the community is dealing with digital asset regulations, crypto exchange hacks, central banks practicing monetary easing, and people claiming to be Satoshi Nakamoto. The following is a look at news.Bitcoin.coms most popular crypto articles in 2019 by order of the highest-trafficked content.

In September, news.Bitcoin.coms Kevin Helms reported on the Reserve Bank of Indias regulatory guidelines imposed, which limited bank customers withdrawals from 137 financial institutions. Customers from these bank branches were only allowed to withdraw 1,000 rupees (approximately $14) per account for six months.

After the news spread, a number of Indias citizens revolted and the government had to send police assistance to a few different banks located in Mumbai. The report highlighted how the current banking system, no matter what country you live in, continues to grow untrustworthy.

Across 2019, a great number of central banks and countries participated in practicing monetary easing. However, one specific economy, that has been considered the foundation of Europe, has been showing signs of financial failure. In August, Lubomir Tassev explained that the German economy is facing an economic crisis that could cause a domino effect throughout the EU.

2019 statistics had shown that Germanys strong industrial economy saw significant declines in production. [Germany] is now seeing a significant decline in production by 2.7% year-on-year in January and 1.9% in April compared to the previous month, Tassev detailed. Then in May, factory orders declined 2.2% from a month ago and registered an 8.6% annual drop, the biggest in a decade. The following month the country invoked a five-year rent freeze in Berlin.

In May, the cryptocurrency community found another suspect who might be the infamous creator of Bitcoin. Kai Sedgwick reported on how the name Paul Le Roux found its way into the cryptosphere last spring. During the Kleiman v. Wright lawsuit, Document 187 had shown an unredacted name and Wiki link which belongs to the criminal mastermind Paul Le Roux.

The document led people to believe that Le Roux was smart enough to create Bitcoin and the coincidental timing of his arrest was around the same time Nakamoto left the community. Speculators really started wondering if Le Roux was Nakamoto when an anon from 4chans /biz/ messageboard insisted that Bitcoin was a project of a evil genius Paul Solotshi Calder Le Roux.

Satoshi Nakamoto was a popular topic in 2019, and a few of news.Bitcoin.coms highest-trafficked articles are written about this legendary character. The day before Halloween, news.Bitcoin.com published a story about the fascinating clues left behind by Bitcoins notorious creator.

The editorial discusses Satoshis planning, theories as to why Nakamoto left the community, and conspiracy theories like the idea that Bitcoin was created by the CIA. Satoshi left behind a bunch of clues and said some interesting statements back when the monicker spoke on bitcointalk.org and the cryptography mailing list.

All year long Indian cryptocurrency enthusiasts have been waiting on the final word in regard to digital currency regulations in India. News about the regulatory situation started coming to life in the spring and in March, Indias government told the supreme court that the crypto regulations being drafted were near completion.

Attorney Jaideep Reddy of Nishith Desai, a lawyer behind a writ petition opposing the crypto banking ban by the Reserve Bank of India, told news.Bitcoin.com at the time: The matter was heard for a very short period of time The matter started with the counsel for the Union of India stating that its committee is in the final stages of deliberations and that the matter should be heard after that.

During the first week of August, it was discovered that the giant retail corporation Walmart patented plans for a stablecoin backed by USD. The news followed Facebooks announcement to launch a coin called Libra. Walmarts attempt also followed the time when the company attempted to start its own banking services back in 2006.

At the time, politicians and financial incumbents opposed Walmart joining the banking industry and the firm got so much pushback it decided to quit the banking attempt. However, with a Walmart Coin, the company could skip all the banking charter laws and offer customers a different kind of savings incentive through cryptocurrency dividends.

News about cryptocurrency laws in India was of great interest to news.Bitcoin.com readers in 2019. On July 26, headlines detailed that an Indian official who led the committee which had created the crypto ban bill resigned.

Former Department of Economic Affairs (DEA) Secretary Subhash Chandra Garg decided to apply for voluntary retirement after receiving flak from the Indian cryptocurrency community. Supporters of friendlier digital asset laws in India, called the drafted bill flawed and after a few controversial tweets about crypto, he left his post. Moreover, a few days prior, members of the Indian government told the public that digital currencies were not banned.

In the first month of 2019, news.Bitcoin.coms Lubomir Tassev wrote a review about eight different crypto debit cards people can use around the world. The editorial discussed cards issued by firms like Wirex, Bitpay, Revolut, Cryptopay, and Fuzex.

The report explained the negatives and the positive benefits to a loadable cryptocurrency card. In addition to detailed information about existing crypto cards on the market, Tassev also wrote about the upcoming card companies that planned to launch in 2019. The editorial highlights how the use of crypto debit cards significantly expands the usability of digital coins in the world.

There were a hell of a lot more popular stories last year and the eight mentioned above just scratch the surface when it comes to news.Bitcoin.coms 2019 archive. Other reader favorites in our library this year included subjects like a possible Deutsche Bank collapse, how Citi, Deutsche, and HSBC laid off thousands of employees, the Indian supreme courts struggles with drafting regulations, and the Philippines seeing 10 government approved exchanges.

There were plenty of Satoshi Nakamoto stories and unique editorials involving the mysterious creator of Bitcoin. The news about the U.S. tax agency telling the public they planned on sending 10,000 letters to American cryptocurrency owners shocked our readers. 2019 also saw the downfall of the biggest multi-level-marketing (MLM) crypto scam of all time when the so-called Bitcoin Killer Onecoin crumbled.

What do you think about the eight most popular news.Bitcoin.com articles from 2019? Let us know what you think about the subjects and articles in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship 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 ideas, concepts, content, goods or services mentioned in this article.

Image credits: Shutterstock, Pixabay, Wiki Commons, Fair Use.

Did you know you can verify any unconfirmed Bitcoin transaction with our Bitcoin Block Explorer tool? Simply complete a Bitcoin address search to view it on the blockchain. Plus, visit our Bitcoin Charts to see whats happening in the industry.

Jamie Redman is 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. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

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These Are the Bitcoin Stories You Loved in 2019 - Bitcoin News

BTC’s Hashrate Touches 120 Exahash, But the Price Has Not Followed – Bitcoin News

On January 1, the BTC network hashrate touched an all-time high at close to 120 exahash per second (EH/s). Despite the crypto market lull and lower BTC prices, the 2020 milestone happened just before the blockchains 11th anniversary. BTCs curious jump in hashrate has the cryptosphere wondering whether or not the price truly follows hashpower.

Also Read: Market Update: Crypto Traders Search for Bullish and Bearish Trends

One of the crypto communitys favorite topics is hash power, which is a cryptocurrency mining rigs processing speed. The overall hashrate is the combined hash power used to mine cryptocurrencies like BCH, BTC, and a slew of other coins. The hashrate that analytical websites track is typically measured in calculated hashes per second. Data sites use terminology like terahash (1,000,000,000,000 hashes per second), petahash (one quadrillion hashes per second), and exahash, which equals one quintillion hashes per second.

For some perspective, most single-unit machines produce a number of terahash per second. Bigger facilities filled with mining rigs and collaborative pools produce petahash, and the entire network of single miners, giant facilities, and pools combined yield a number of exahash. Miners on the BTC network did not process one exahash until the last week of January 2016. At the time, the milestone was considered a noteworthy spike in overall hashrate. On January 1, 2020, the BTC network hashrate touch 119 EH/s surpassing the chains previous all-time high of 100 EH/s.

Similar to now, in 2016 BTC prices were low, at $380 per coin when the network crossed one exahash. Following the jump in hash power, the price did follow, and very slowly crept from $380 per BTC to $700 per coin in June of that year. Following the month of June, BTCs hashrate climbed above two EH/s but BTC prices remained stagnant fluctuating between $600-$775 per coin. At the end of November 2016, the price per BTC started climbing higher and the value continued to spike in the spring of 2017. From the spring months of 2017 all the way until December 2017, both BTCs fiat value and hashrate skyrocketed. In April 2017, the overall BTC network hashrate was around 4 EH/s and by the years end, it was hovering around 15 EH/s. Now, despite the price dropping from close to $20k per BTC all the way to the $3,500 range, the hashrate jumped to 56 EH/s in September 2018 without dropping much in between.

In September 2018, with a hashrate around 56 EH/s, the price per BTC was similar to todays market prices at $6,500 per coin. From September to December 2018, the BTC network lost a significant amount of hashrate as it plummeted to 31 EH/s. Of course, the price in December 2018 was between $3,200 to $4,000 per BTC. Bitcoin prices didnt start to recover until the end of March 2019, but from December 2018 until the spring months of 2019, BTCs hashrate regained the hash power it held in September 2018 at around 56 EH/s. The overall hashrate has doubled since then, touching a milestone of 100 EH/s in November 2019. The price per BTC has also followed suit up until it touched the 100 EH/s all-time high. Since then, BTCs fiat value has hovered around the $6,500 to $7,500 region.

There is always a lot of talk that the price follows hashrate and historically this has been true. However, statistics show that the hash power typically gets a decent lead before the prices start kicking into gear. This means that it could take some time for the price to follow the climbing hashrate.

If historical patterns remain consistent with future patterns, it could mean a few more months before the price comes around. People should also keep in mind that past price and hashrate patterns do not necessarily reflect what will happen in the future.

What do you think about the BTC network hashrate coming close to 120 EH/s on January 1, 2020? Do you agree that the price will follow BTCs hashrate? Or do you think that patterns like price and hash do not matter? Let us know what you think about this subject in the comments section below.

Disclaimer: Price articles and market updates are intended for informational purposes only and should not be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the money. Cryptocurrency prices referenced in this article were recorded at different times using historical fiat prices and todays global exchange rate for BTC at 3:00 p.m. EST on January 2, 2020.

Image credits: Shutterstock, Pixabay, Twitter, Fair Use, Blockchain.com, markets.bitcoin.com, and Wiki Commons.

Verify and track bitcoin cash transactions on our BCH Block Explorer, the best of its kind anywhere in the world. Also, keep up with your holdings, BCH, and other coins, on our market charts at Bitcoin.com Markets, another original and free service from Bitcoin.com.

Jamie Redman is 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. Redman has written thousands of articles for news.Bitcoin.com about the disruptive protocols emerging today.

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BTC's Hashrate Touches 120 Exahash, But the Price Has Not Followed - Bitcoin News

Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record – newsBTC

Todays mid-week daily close in Bitcoin price charts carries significantly more weight than usual, as New Years Eve marks the last day of the calendar year, and the crypto assets yearly candle close.

If the leading crypto asset by market cap closes today at current prices around $7,250, the yearly candle will close with the largest wick on record, clearly showing the failed parabolic rally that occurred around mid-year 2019.

Bitcoin price charts can be viewed across multiple timeframes, with the most significant being given to the largest and longest timeframes.

Crypto traders and analysts often pay particularly close attention to daily, weekly, or monthly price charts in order to get a better grasp on the market and the trend underway.

Related Reading | Past Performance Shows Bitcoin Historic High Could Serve As True Bear Market Bottom

And while yearly price charts arent as oft used as the other, longer timeframes, they can be helpful in looking at the bigger overall picture.

One crypto analyst has shared a yearly Bitcoin price chart on Twitter and invited others from the community to do what they do best and speculate on what the yearly candle close means for the crypto asset, and what is expected for the following years close.

The candle itself while green does show a failed rally in the form of a massive wick that stopped at prior yearly resistance. The wick is also the largest ever recorded in Bitcoin price on yearly candles, as even 2017s peak has a $6,000 range from wick peak to candle body close, whereas this years reaches from the current price of $7,250 all the way to $14,000 representing a $6,750 long wick.

Analysts responding to the thread suggest that because this years candle is closing at under 50% of 2017s candle, 2020s yearly close is expected to be red.

For 2020 to close red, Bitcoin price would need to end next year lower than whatever the price closes at when the clock strikes 7PM ET tonight. Another year of sideways or downtrend would likely be too much for many crypto investors who have been holding through two full years of a bear market already.

Others, however, say that the next years candle will close green, filling out the wick of 2019 with continued price action until Bitcoin eventually sets a new high.

Related Reading | Heres What $100 in Bitcoin Would Have Made Next To The Decades Best Investments

While many crypto investors are already thinking about 2020, Bitcoin price still needs to close the daily candle tonight to put 2019 in the history books for good, and set its sights on a new year or trading.

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Bitcoin Price Yearly Candle Shows Failed Rally, Longest Wick on Record - newsBTC

How Bitcoin Adoption Will Help India Achieve Its $5 Trillion… – Bitcoin Magazine

India has been one of the most notable emerging economies in the world in the last few decades. It currently stands at seventh place with a nominal GDP of $2.72 trillion and it is expected to overtake the United Kingdom in years to come. Indias PM Narendra Modi envisioned a dream of making India a $5 trillion economy by 2024. But achieving that dream for a country with a population of 1.3 billion might be a challenge if the current economic performance is to be considered. Indeed, bitcoin adoption in India could be the key to its economic future.

If Indias GDP is to reach $5 trillion by 2025, its minimum annual growth rate will need to be greater than 10.8 percent every year. Indias current GDP growth has fallen sharply from 8 percent last year to 5 percent in the second quarter of 2019. Manufacturing growth in India slumped to a 15-month low in August due to lower sales growth, resulting in factories being forced to shut down production.

Another reason for slowing economic growth is Indias rising unemployment rate, which was 8.5 percent in October, its highest in the last three years. Foreign portfolio investors were net sellers of Indian stocks during the July-September quarter, withdrawing over $3.2 billion from Indian capital markets. The Indian central governments fiscal deficit is projected to widen to about 3.7 percent in FY20, contrary to the plan of keeping it under 3.3 percent.

With all these lower-than-expected results, the Indian government has been taking a series of measures to boost the economy from the supply-side by pushing public capital expenditures, lowering the corporate tax from 35 percent to 25 percent. Indias central bank, the Reserve Bank of India (RBI) has cut its interest rate five times since the start of 2019 to boost spending.

Back in 1991, India adopted economic liberalization which helped to expand its economy and its role in private investment. Due to this radical reform, India achieved the status of a developing country but failed to adopt similar reforms which would have propelled it toward becoming fully developed. What the Indian government could do is adopt measures to stir the economy in an upward direction and also focus on opening the doors to supplement growth. Right now, India has a chance to live up to this potential by adopting another radical monetary innovation: Bitcoin.

Bitcoin is the worlds most powerful monetary innovation, with an idea to democratize exchange/store of value without any control from a single authority. Eleven years after its birth, it has been the best-performing asset class and, importantly, is on its way from being merely collectible to achieving the status of digital gold in years to come. Recently, Bitcoins hash rate just hit an all-time high of 111 EH/s, restoring confidence in its network despite the price dump. Every day (or, more precisely, every 10 minutes) as Bitcoins network becomes stronger than before, it will absorb more monetary value in proportion.

Whats important is that the rise in bitcoins monetary value will have a significant impact on Indias fiat currencies. Countries with the weakest monetary policies and currencies are most at risk of economic failure at the outset. Once they begin to fall, a domino effect of all fiat currencies which adopted the wrong monetary policy and engaged in excessive money printing will follow. This threat to fiat currencies is a large part of the reason why governments all around the world are hesitant toward directly adopting bitcoin. But governments should view bitcoin not as a threat but as an opportunity.

Long before bitcoin, gold was considered a robust store of value. In 1944, 44 countries signed onto the Bretton Woods system, agreeing to peg their currencies to the U.S. dollar (which was, itself, declared to be backed by gold). Due to this structure and overall confidence in its economy, the USA achieved the status of superpower in decades to come. The same sort of robust growth could be achieved by India through bitcoin adoption.

First, India can open the roads for everyone to directly invest in bitcoin legally through banking channels. As it has done with gold, the Indian central bank can continue accumulating bitcoin as the countrys reserves. Due to bitcoins fixed supply of 21 million, accumulating earlier than other countries will have a significant advantage in years to come. These bitcoin reserves will be beneficial for carrying out public capital expenditures and aiding the private sector through serial reforms.

Whenever a new investment opportunity knocks on a countrys doors, it has the potential to have an entire ecosystem built up around it. Same is true for bitcoin. It will give rise to new entrepreneurs, new start-ups, new businesses, new innovations, new products and services, new consumers, and altogether new markets. It happened with the internet and smartphones.

It is happening with other technologies like AI and IoT. It is happening with blockchain technology and Bitcoin in some countries like Singapore, Germany, and Switzerland. Hence, it makes eminent sense to let bitcoin flourish in a regulated environment around the world. This philosophy may run contrary to the rebellious roots of some Bitcoin enthusiasts who strive to challenge the current financial system. But lets be practical here. If bitcoin has to reach a population of 1.3 billion people like India, it will only happen through appreciation, acceptance and minor adjustments.

Coming to a common Indian individual, giving them access to invest in bitcoin through regulated channels will help increase their purchasing power. Currently, per capita income is just over $2,000 which is significantly lower than in other developed countries. Also, average retail investors are not allowed to have access to open global high performing markets, secluding them to limited options in Indias equities and commodities markets.

If the Indian government classifies bitcoin as a good/commodity/currency, a population of 1.3 billion will get access to store their wealth in the hardest money resulting in an increase in overall per capita income over time. More importantly, providing access to the hardest money will help maintain a base level of demand during critical times like recession or economic slowdown. Even today, 190 million people in India are unbanked, with the help of bitcoin these people can have access to money management like savings and transacting.

Bitcoins on-chain growth will give rise to multiple Bitcoin companies on second/third-layer solutions. With open Indian Bitcoin regulations, it will create many significant Bitcoin innovations and also create a plethora of Bitcoin-related jobs in technological engineering, marketing, etc.

India can take a proactive approach toward bitcoin by first accepting the innovation and later recognizing it. This will help India achieve the status of a $5 trillion economy, or maybe beyond.

In conclusion, it is fair to say, very soon, that bitcoin will help India be more visible and we can become the powerhouse that we have the potential to be. Coupled with our aim to integrate financial inclusivity, we will be unstoppable, as far as booming economies go.

This is an op ed by Sumit Gupta. Views expressed are his own and do not necessarily reflect those of Bitcoin Magazine or BTC Inc.

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How Bitcoin Adoption Will Help India Achieve Its $5 Trillion... - Bitcoin Magazine

How to make a Bitcoin conversion – Yahoo Finance

There may come a time when you need to convert your Bitcoin into fiat or another cryptocurrency.

Perhaps you want to realise a profit, simply need the cash, or believe another cryptocurrency offers more potential.

There are several different ways you can sell Bitcoin, and there are also lots of exchanges that enable you to convert Bitcoin into fiat currency such as GBP or another cryptocurrency like Ethereum.

The first step is to ensure the timing is right and thats where a Bitcoin calculator comes into play.

Bitcoin calculators

Bitcoin calculators are an essential tool if youre considering converting Bitcoin to cash because they show you how much currency youll get for your Bitcoin.

Since the price of Bitcoin is extremely volatile, its important to check its conversion rate in real time. This will ensure you dont end up cashing in at the wrong moment for example, when Bitcoins value has just plummeted.

There are a whole host of free Bitcoin calculators available on the web which let you convert Bitcoin to and from a range of world currencies using up-to-date exchange rates.

You can check the live Bitcoin rate with GBP, EUR, USD, JPY, and lots more fiat currencies. Some calculators also show the closing rate of the previous day as well as the highest and lowest rates of the conversion.

If you think the price is worth it, the next step is to make a Bitcoin conversion.

Converting Bitcoin to fiat

The main method of converting Bitcoin to fiat is to sell it on a cryptocurrency exchange. A crypto exchange lets you quickly and easily exchange your Bitcoin for a wide range of world currencies. The exchange essentially acts like a middleman between you and the buyer and will take a cut via trading fees.

To sell your Bitcoin, you will need to set up an account with the exchange of your choice. This will involve going through an identity verification process and connecting your bank account to the exchange.

Once completed, you can then make a sell order by entering the amount and type of coin you wish to sell (in this case BTC) and selecting the fiat currency you wish to receive.

Once the cash funds are in your account you can withdraw them to your connected bank account a process that could take up to a week to complete.

There are other ways to make a Bitcoin conversion for example, through a peer-to-peer platform, via a Bitcoin ATM, or through a direct trade with another person.

The right method for you will depend on factors such as how quickly you want to sell your Bitcoin, whether you want to secure the market rate, and the fees youre willing to pay.

Converting Bitcoin to other crypto

Although most people who make a Bitcoin conversion do so in order to get cash, there might be instances where you want to exchange your Bitcoin for another cryptocurrency such as Ethereum or Litecoin. Again, you will need to head over to a cryptocurrency exchange.

The first step is to find an exchange that supports your chosen Bitcoin trading pair. There are a vast number of exchanges in existence and, together, they let people exchange Bitcoin for hundreds of altcoins, so this step should be relatively straightforward.

Once youve selected an exchange, you can sign up for an account with your personal details and proof of ID.

The next step is to deposit Bitcoin into your exchange account. On most exchanges, you select the deposit button, choose Bitcoin as your deposit currency, and copy the account address shown.

You then need to open up the external wallet youd like to send your Bitcoin from, enter the account address, and press send.

Once the Bitcoin has arrived in your account, you can begin the exchange process. You simply navigate to the currency pair you wish to trade for example BTC to ETH and then enter the amount of BTC you want to convert and click sell.

To avoid the risk of being hacked, its recommended that you transfer your new crypto from the exchange into a secure, external wallet for safe storage.

The post How to make a Bitcoin conversion appeared first on Coin Rivet.

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How to make a Bitcoin conversion - Yahoo Finance

Bitcoin Hit Its All-Time High in 2017. Here Comes New Competition. – Barron’s

Illustration by Elias Stein

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Two years ago last week, Bitcoin peaked at $19,783, after starting 2017 at about $1,000. Since then, prices have fluctuated wildly, falling 73% in 2018 and rising 85% this yearbut they have not come close to retesting previous highs. Recently, Bitcoin was trading near $7,000.

An investor who bought early in 2017 would still be up more than 500%. But thats not the whole story. Dan Wiener, chairman of Adviser Investments and founder of the Independent Adviser for Vanguard Investors, analyzed Bitcoin price movements since the start of 2017 and found that the average five-day rolling return was 1.5%. But the range of five-day gains and losses was enormous, with a high of 47% and a low of minus 29%. And investors lost money 45% of the time when they held Bitcoin for 10 days, he calculated.

Beyond the price action, the biggest change since 2017 is Bitcoins rising competition. Two years ago, the market was awash in initial coin offerings for currencies expected to challenge Bitcoins dominance. But Bitcoin still accounts for 67% of the market value of cryptocurrencies, according to Coinmarketcap.com. Bitcoins real competition now comes from companies looking to use blockchain technology to create currencies, and governments that want to produce digital coins backed by their treasuries. Will the dominant coin be decentralized like Bitcoin, corporate-backed, or government-controlled?

Facebooks Libra project has run into regulatory issues, but could launch as soon as next year. China has been working on digital currencies since 2014 and has reportedly accelerated efforts this year.

The Census Bureau reports new-home sales data for November. Consensus estimates are for a seasonally adjusted annual rate of 730,000 new homes sold, roughly even with Octobers figure. That estimate would be about an 11% increase from November 2018s 657,000 rate. In October, the average price for a new house was $383,300 while the median price was $316,700.

The Federal Reserve Bank of Chicago releases its National Activity Index for November. Economists forecast a negative 0.1 reading, similar to the October data. The index has had a negative reading every month this year except for June and August, after having three negative reading in 2018. This indicates that the economy, while still growing, is decelerating.

The Census Bureau releases its Durable Goods report for November. New orders for durable manufactured goods are expected to jump 1.6% after a 0.5% rise in October. Excluding transportation, new orders are seen edging up 0.2%. This compares with a 0.5% gain in October, as well.

Trading ends early, at 1 p.m., on the New York Stock Exchange and Nasdaq Composite for Christmas Eve. The bond market closes at 2 p.m.

The Bank of Japan releases minutes from its monetary-policy meeting at the end of October.

The Federal Reserve Bank of Richmond releases its Fifth District Survey of Manufacturing for December. Expectations are for a 3.0 reading, up from Novembers minus 1.

Markets all over the world, including in the U.S., are closed in observance of Christmas Day.

China hosts a trilateral summit with Japan and South Korea in the southern city of Chengdu. The two-day confab convenes on Dec. 24. and concludes on Dec. 25. Chinese Premier Li Keqiang, Japanese Prime Minister Shinzo Abe, and South Korean President Moon Jae-in are scheduled to attend. The denuclearization of North Korea and ongoing trade war between Japan and South Korea will be among the topics for discussion. In August, Japan removed South Korea from its list of trusted trade partners. Seoul followed suit the next month. The root of the disagreement is over Japans compensation of forced Korean laborers during World War II.

Many bourses, including those in Canada, England, and Hong Kong, are closed in observance of Boxing Day.

The Department of Labor reports initial jobless claims for the week ending on Dec. 21. The four-week moving average of claims is 225,500.

Pivotal Software holds a special shareholder meeting in San Francisco to seek approval for a proposed merger with VMware. In August, VMware announced a cash and stock offer for Pivotal Software valued at $2.7 billion.

The U.S. Energy Information Administration releases its Petroleum Status report for the week ending on Dec. 20.

Write to Avi Salzman at avi.salzman@barrons.com

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Bitcoin Hit Its All-Time High in 2017. Here Comes New Competition. - Barron's

Did Bitcoin Bottom? The Positive Case And The Negative Case. – Forbes

George Washington wearing sunglasses with Bitcoin signs. Cryptocurrency, digital money concept.

After Bitcoin peaked in July, investors began unloading and its been steadily downward ever since. From 14,000 to 6600, thats quite a drop in a short time for such a widely-followed investment vehicle: more than 50% is not for widows and orphans.

A couple of technical indicators suggest that with this weeks price action, things may have changed, emphasis on the may have, for the highly speculative and quite volatile cryptocurrency.

Heres the daily price chart:

Bitcoin daily price chart, 12 20 19.

The main thing is the big fat bullish engulfing candlestick on Wednesday Ive circled it in red. Price dropped below the November low initially and then buyers came in to take out the high price of the previous session. A bullish engulfing candlestick isnt always perfectly predictive, but its obvious that, at least temporarily, buyers have taken the upper hand.

The reason it may mean something this time is the positive divergence apparent on the technical indicators for relative strength and for the relationship of moving averages. You can see how the RSI, above the price chart, comes in with a slightly higher low from the November low price to the lower mid-December low.

You can also see the similar pattern of the moving average convergence divergence indicator below the price chart. The MACD is trending upward again even with this months lower price.

It would be foolish to take any one of these indicators by themselves to be somehow predictive of future price. That all 3 of them the bullish engulfing candlestick, the RSI and the MACD are lined up favorably suggests the possibility of a reversal for the cryptocurrency.

Heres the problem: the other major cryptos that typically follow Bitcoins basic trading pattern are not reflecting the same kind of strength. This type of price action is a non-confirmation, so far anyway.

Heres the Litecoin daily price chart:

Litecoin daily price chart, 12 20 19.

The bounce off the mid-December low has failed to make it back above the November low at just below 45.. The RSI indicator shows lack of strength. These are significant divergences from the Bitcoin price chart.

Its the same problem with the Ethereum chart:

Ethereum daily price chart, 12 20 19.

Unlike Bitcoin, this one failed to make it back above the November low. Like Litecoin, the relative strength indicator suggests weakening.

Its similar to analyzing precious metals charts. When gold rallies a bit and silver fails to rally with it, youre getting a failure to confirm in the price strength of the overall sector. Same thing going on here (in a way) with the popular cryptocurrencies.

It was a good week for Bitcoin and its unconfirmed by the action in Litecoin and Ethereum.

Stats courtesy of FinViz.com.

I do not hold positions in these investments.No recommendations are made one way or the other.If you're an investor, you'd want to look much deeper into each of these situations. You can lose money trading or investing in stocks and other instruments. Always do your own independent research, due diligence and seek professional advice from a licensed investment advisor.

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Did Bitcoin Bottom? The Positive Case And The Negative Case. - Forbes

At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade – Cointelegraph

Bitcoin (BTC) has beaten gold in terms of returns by such a large amount this decade that investors have firmly dismissed recent price declines.

Data from monitoring resource Blockchain shows that since 2010, Bitcoin has delivered profits of almost 9 million percent.

Put differently, $1 invested in BTC ten years ago was worth around $90,000 as of Dec. 18. By comparison, $1 of gold is now worth $1.34.

Bitcoin average market price 2009-2019. Source: Blockchain

Visibly buoyed by Bitcoins performance, Barry Silbert, CEO of cryptocurrency investment conglomerate Digital Currency Group, deployed the popular Twitter hashtag #dropgold, with his post subsequently receiving over 1,600 retweets.

The statistics underscore Bitcoin as a winning investment for the vast majority of existence. As information portal 99 Bitcoins confirmed on Thursday, since 2009, Bitcoin has only been unprofitable to buy on 434 days at price peaks.

This equates to 89.16% profitability, allowing BTC to put pay to golds record despite the precious metals own recent advances in U.S. dollar terms.

Year-on-year, Bitcoin returns have been similarly impressive. At current price levels around $7,150, Bitcoin investors made 85% profits versus December 2018.

With 2017 as an exception, they remain in the green every year since the beginning.

Bitcoin profits over different time frames. Source: Coin Dance

As Cointelegraph reported, a recent analysis of wallets has shown that Bitcoin hodlers have in fact remained highly disciplined in 2019, despite this year producing a bull-run from lows of $3,100 to almost $14,000.

The phenomenon supports the perception of BTC as an investment tool, suitable for savers with a low time preference who wish to preserve wealth for the long term.

As Saifedean Ammous summarized in his popular book, The Bitcoin Standard, that characteristic will continue to pit Bitcoin directly against easy forms of money, including fiat currency.

Over the New Year period, the U.S. Federal Reserve alone will add an extra $425 billion in fiat value to the economy more than three times Bitcoins market cap that is essentially money created out of thin air.

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At 8,990,000% Gains, Bitcoin Dwarfs All Other Investments This Decade - Cointelegraph


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