A prominent bitcoin supporter and a co-founder of a crypto asset investment company BlockTower Ari David Paul believes that altcoins pose no threat to Bitcoin as they use different Proof-of-Work algorithms; however, forks that interfere with the mining of the SHA-256 algorithm might be dangerous rivals in hash wars.
“It makes sense for bitcoiners to be extremely antagonistic to contentious hard forks like 2x which threaten the BTC security model. It makes no sense to be antagonistic to altcoins that use a different PoW algo or another consensus mechanism.” he wrote in a Twitter thread.
He believes that at this stage altcoins satisfy the demand for certain [...]
Bitcoin is moving as we said yesterday and today it has improved a bit, moving at around $10,150 (+1%). Meanwhile, the top altcoins retrace a bit, with Litecoin (-2.6%), Cardano (-2.37%), Binance Coin (-3.9%), and Bitcoin SV (-4.3%) being the most bearish. The market cap of the crypto market improved and is now at $260.2 Billion, and Bitcoin dominance grew to 70% again.
Today’s news tells that France’s Economy and Finance minister Bruno Le Maire said at the opening of the OECD conference on cryptocurrencies that France would block Libra’s development in Europe because it threatens the monetary sovereignty of governments. Also, Santander announced today [...]
One of the major criticisms which digital assets face has to do with their speculative nature which makes it difficult to determine the true value of a coin. This is made more difficult by the variety and differences of technological setups in each cryptocurrency.
Crypto markets operators and the industry’s analysts have developed a range of metrics which are used to keep track of the value of altcoins. These metrics are used to determine how a crypto asset’s price will develop over time.
On-chain activity is one of the metrics which is used to assign a market value to a cryptocurrency. This metric looks at all the transaction activity around a cryptocurrency’s [...]
Wednesday, July 17— The number one cryptocurrency Bitcoin (BTC) is seeing slight gains on the day as major altcoins (ETH) and Ripple (XRP) rally.
Market visualization. Source: Coin360
Bitcoin has been trending down this week. Bitcoin retook $13,000 on July 9 before sinking all the way down to under $10,000 by July 16. At press time, BTC is trading just over $9,800 with a 2.64% gain on the day.
On July 4, analysts at SFOX conjectured that Bitcoin could rally in light of the American national holiday Independence Day, arguing that holidays in the midst of a bull market tend to spark FOMO. However, Bitcoin did not see any [...]