Bitcoin is one of the most popular cryptocurrencies in the market. First introduced in 2009 by Satoshi Nakamoto, Bitcoin has held the crypto market’s number one spot according to market capitalization. Bitcoin paved the way for many existing altcoins in the market and marked a pivotal moment for digital payment solutions.  

As the world’s first cryptocurrency, Bitcoin has come a long way in terms of its value. However, one does not have to buy an entire bitcoin as bitcoins can be divided into small units called satoshis, named after the creator. A satoshi is equivalent to 0.00000001 bitcoin.

There is no physical BTC token so you can think of bitcoin as digital money. Bitcoin transactions are fully transparent and can’t be censored. You can send money to anyone in the world with ease. It’s a financial system backed by thousands of computers, known as ‘nodes’, around the world, instead of a single central bank or government, i.e. hence the term ‘decentralization’. 

Bitcoin Upgrades

Because Bitcoin is decentralized and community-driven, many upgrades to Bitcoin come in the form of formal proposals called Bitcoin Improvement Proposals, or BIPs. This ensures that the software is always undergoing upgrades that can further contribute to the community’s needs. Anyone can propose a BIP, and the community will reject or approve of the BIP collectively. One major upgrade to Bitcoin’s consensus protocol is the SegWit Upgrade, proposed in BIP 141 and designed to help the bitcoin scale to support more transactions to meet growing demand. BIPs like these change Bitcoin’s consensus rules, resulting in forks. 

Bitcoin Forks

Forks are the points where software is copied and modified, resulting in two chains with a shared original chain. There are two types of forks–soft and hard forks. Soft forks are upgrades that still allow un-upgraded nodes to interact with upgraded nodes. Hard forks are upgrades that do not allow un-upgraded nodes to interact with upgraded ones. Bitcoin Cash is an example of a hard fork of Bitcoin.

Because Bitcoin is decentralized, it is not subjected to inflation or any monetary policies created by any central banks or government. Instead, there will only ever be 21 million BTC in existence.

Common Bitcoin Misconceptions 

Bitcoin is just a passing phase.

Bitcoin and blockchain technology introduce solutions for real-world issues, seeking to help the unbanked population, combat counterfeiting and improve cross-border transactions to name a few. Even if we disregard the notion of bitcoin as a speculative asset or store of value, it is likely here to stay and disrupt many sectors.

Bitcoins can be copied and pasted, making them easy to counterfeit.

No, thanks to the Bitcoin protocol, your bitcoin cannot be copied. The word ‘crypto’ in ‘cryptocurrency’ comes from the word ‘cryptography’, a technique that allows for secure communication, meaning that it is impossible to counterfeit bitcoin, unlike fiat. In fact, Bitcoin solves the issue of double-spending, a loophole in traditional digital cash that allows a user to spend the same amount of funds twice.

Bitcoin is bad for the environment.

A significant percentage of bitcoin mining uses renewable energy (wind, solar, hydro etc) instead of traditional energy sources that are bad for the environment. 

How Does Bitcoin Halving Affect Bitcoin’s Price?

Bitcoin halving occurs approximately every four years, where the rewards given to Bitcoin miners for mining blocks are cut in half. Halving was built into the Bitcoin protocol to maintain its value as a deflationary currency. By reducing the amount of new bitcoins, the protocol aims to prevent the devaluation of Bitcoin over time, which often happens with inflationary currencies.

Historically, Bitcoin's price has tended to increase in the months leading up to halving, as investors and traders anticipate a supply shock. After halving, the price may continue to rise if demand remains strong and outstrips the reduced supply. Other factors such as market sentiment, regulatory developments, and global events can also impact the price of Bitcoin. Follow our Bitcoin Halving Countdown to know how Bitcoin halving works.

The live price of Bitcoin (BTC) is updated and available in real time on Binance.

$BTC

#Gra_Deshapriya

#BinanceFeed

Introduction
The Candlestick trading bible is one of the most powerful trading systems in history. It was invented by Homma Munehisa.The father of candlestick chart patterns.
This trader is considered to be the most successful trader in history, he was known as the God of markets in his days, his discovery made him more than $10 billion in today’s dollar.
I have spent 10 years compiling, testing, organizing, and consistently updating this method to create my own new version, which is considered to be the easiest and most profitable trading system.
The Candlestick trading bible is the trading method that is going to finally take your trading to where it should be, consistent, profitable, easy and requiring very little time and effort.
This trading system is based on Japanese candlestick patterns in combination with technical analysis.
All what you have to do is to spend as much time as you can to master the method that i’am going to share with you and use it to trade any financial market.
Learning Japanese candlestick is like learning a new language. Imagine you got a book which is written in a foreign language, you look at the pages but you get nothing from what is written.
The same thing when it comes to financial markets. If you don’t know how to read Japanese candlesticks, you will never be able to trade the market.
Japanese candlesticks are the language of financial markets, if you get the skill of reading charts, you will understand what the market is telling you, and you will be able to make the right decision in the right time.
The easy to follow strategies detailed in this work will provide you with profit making techniques that can be quickly learned.
More importantly, learning the principals of market psychology underlying the candlestick methodology will change your overall trading psych forever.
The Candlestick trading bible has already proven itself. Fortunes have been made using the Japanese candlestick strategies.
I congratulate you on taking the first step in your trading education, you are on the right path to become a better trader.
However, this is actually just the beginning of your trading career, after finishing this eBook, the real work begins.
Don’t read this eBook very fast, this is not a novel, you should take your time to understand all the concepts i discussed, take your notes, and go back from time to time to review the strategies i shared with you.
Remember, this is an educational work that will teach you professional methods on how to make money trading financial markets.
If you got the skills that i shared with you here, you will change completely your life and the life of people around you.
#Gra_Deshapriya
#BinanceFeed

#Binance

GnosisSafe Vault Contract Exploited, Hacker Gains ~$97.6K

A GnosisSafe vault contract (0xF6eb0) has been exploited, with the hacker's address (0xb9c77db3C0e1254D073E65dc0455ba6DDd3ce385) reportedly gaining approximately $97.6K.

According to CertiK Alert, a reported attack on the GnosisSafe vault contract has left the security of the platform in question. The exploiter managed to breach the contract using the provided address (0xb9c77db3C0e1254D073E65dc0455ba6DDd3ce385) and walked away with an estimated $97.6K in stolen funds.

GnosisSafe is a secure and user-friendly multi-signature wallet, allowing users to manage digital assets stored on the Ethereum blockchain. The recent exploit raises concerns about the safety of users' funds and the system's overall security.

The community and security professionals are now cautioning users to monitor their transactions closely, especially those involving the exploiter's address. As the investigation continues, GnosisSafe is expected to take appropriate measures to mitigate the impact of this breach and improve its security protocols.

Senator Lummis Files Amicus Brief Supporting Coinbase in SEC Lawsuit Dismissal Motion

US Senator Cynthia Lummis filed an amicus brief supporting Coinbase's motion to dismiss the SEC lawsuit against the firm, arguing that the SEC is trying to establish itself as the main authority on crypto and circumvent the political process. Lummis emphasized the importance of Congress legislating in this area of economic and political significance, as well as the ongoing debates and active consideration around crypto regulation.

According to a report by CoinTelegraph, Coinbase filed a motion to dismiss on Aug. 4, claiming the SEC had violated due process and overstepped its authority by asserting jurisdiction over the exchange. Lummis criticized the SEC's regulation-by-enforcement approach, suggesting it exceeds the agency's authority.

Crypto advocacy groups, such as Blockchain Association, Crypto Council for Innovation, Chamber of Progress, and Consumer Tech Association, also filed a joint brief supporting Coinbase's motion to dismiss, expressing concerns about the SEC's approach to the crypto sector. They argued that the SEC's position on digital assets as investment contracts under federal securities laws is incorrect and threatens to sweep in many non-security assets.

Hacker's Wallet Blacklisted, Victim of 90 ETH Hack May Recover Funds

2023-08-13 00:21

A victim of a hack worth 90 Ether (ETH) is closer to recovering their funds after the hacker's Tether (USDT) address was blacklisted with the help of police and cyber authorities. The victim, known as L3yum on social media, had their wallet seed phrase stolen on March 16 and subsequently lost nearly $170,000 worth of non-fungible tokens (NFTs) and other assets tied to Yuga Labs and smaller projects.

Tether typically requires a court order to blacklist a USDT address. L3yum confirmed that this is the likely path forward but noted that it hasn't been confirmed yet. The method through which the hacker accessed the seed phrase in March is still unknown.

Aave's Native Stablecoin GHO Circulation Surpasses 20 Million, Doubling Since August

According to a report published by CoinTelegraph, on August 11, L3yum revealed that the hacker's Ethereum-based USDT address had been frozen and blacklisted. Although the wallet contains $107,306 worth of USDT, L3yum may not recover the full value of the stolen funds. It remains unclear whether the victim will be reimbursed, but in previous cases, Tether has burned blacklisted USDT and re-issued equivalent amounts to the original owner.

Tether typically requires a court order to blacklist a USDT address. L3yum confirmed that this is the likely path forward but noted that it hasn't been confirmed yet. The method through which the hacker accessed the seed phrase in March is still unknown.
 

ETH, TRON, and BTC Lead in On-Chain Transaction Fee Contributions; TRON Tops DAU Ranking

Odaily Planet Daily News reports data from Token Terminal indicating that the on-chain transaction fees have been on the rise this year (YTD), with May marking a monthly peak at $692 million. Ethereum, TRON, and Bitcoin are the top three cryptocurrencies in terms of contribution ratio to these fees.

Data from the past week revealed that Ethereum registered total fees of $34.7 million, followed by TRON at $18.1 million, and Bitcoin at $4.8 million. Additionally, TRON took the lead in daily active users (DAU) with 1.48 million, while Bitcoin and Ethereum trailed behind, ranking second and third with 654,000 and 338,000 DAU, respectively.

Brazilian Congress Considers Higher Taxes on Overseas Crypto Assets; Legislation Vote Set for Aug. 28

According to a report by CoinTelegraph, Brazil's Congress is mulling legislation that would impose higher taxes on cryptocurrencies held by Brazilians overseas. The congressional committee has approved amendments to a draft bill recognizing cryptocurrencies as financial assets for tax purposes in foreign investments. The bill proposes taxing gains from crypto asset price fluctuations and foreign exchange rate fluctuations to promote equal tax treatment, as overseas crypto investments currently receive lower tax breaks.

Aave's Native Stablecoin GHO Circulation Surpasses 20 Million, Doubling Since August

According to Etherscan data reported by Odaily Planet Daily News, Aave's native stablecoin, GHO, has experienced significant growth since launching on the Ethereum mainnet on July 15th. The circulation of GHO has now surpassed the 20 million mark, reaching 20,029,456. This milestone comes just months after GHO's circulation reached 10 million on August 2nd, showcasing the stablecoin's rapid expansion.

#Gra_Deshapriya

$BTC $BNB

Indian Crypto exchange CoinDCX, backed by Coinbase Ventures, fired 12% of its workforce on Tuesday, citing ongoing macroeconomic conditions and the TDS on crypto transactions.

The company clarified that it is the first time CoinDCX is laying off employees. Earlier in Jan, it announced an internal restructuring and denied any layoffs at the time.

The decision comes at a time when crypto startups in India are grappling with the country’s regulatory uncertainty and a plunge in trading volumes in 2022, amid high crypto tax rates and TDC.

According to the company’s chief executive officer Sumit Gupta, tough macro conditions due to “the prolonged bear market and impact of TDS on domestic exchanges” have pressured the company to take the “difficult decision.”

“These factors had a significant impact on our volumes and thus revenues. To adapt, we undertook several proactive measures, including direct cost optimization and investment in automation to drive efficiency and productivity.”

The company became the first crypto unicorn in the country in 2021 with a valuation of $1.1 billion.

According to CoinDCX’s LinkedIn page, the company has over 722 employees, and with the latest fresh round of layoffs, around 80 staff have been impacted.

Furthermore, to support employees who are impacted, CoinDCX said that it is giving a support package comprising of “severance pay equivalent to the full notice period, additional one month of salary, variable pay & incentives dues, encashment of unutilized leaves, extension of health insurance and wellness benefits.”

The company also assured that it is not planning for any further team reduction moving forward, after having multiple thorough and deliberate discussions with the company’s senior management.

TDS on Crypto in India

India has been having a tough stance on cryptos, imposing a 30% tax on crypto profits and a 1% tax deducted at source (TDS) provision on all crypto transactions, effective from February 2022.

The TDS acts as an advance tax that is deducted by the payer while making payments such as salaries, rent, or professional fees.

These announcements sent the entire country’s crypto space into a tizzy, amidst already existing increasing scams. Following the TDS implementation, crypto exchanges in India saw a decrease of around 60-70% in users.

#Gra_Deshapriya

#BinanceFeed

In a recent video interview on the Paul Barron Network, Mark Yusko, CEO and Chief Investment Officer of Morgan Creek Capital Management, made a compelling prediction about Bitcoin's future. Yusko, with decades of experience in the financial industry, suggested that the approval of a Bitcoin spot exchange-traded fund (ETF) by the SEC could pave the way for an influx of $300 billion into the market.
The interview, which delved into the current state of the Bitcoin landscape and its potential for institutional investment, saw Yusko shed light on the impact that regulatory developments can have on the Bitcoin market.
Yusko began by emphasizing the importance of the approval of a Bitcoin spot ETF in the United States, highlighting that it would provide a bridge for institutional investors to enter the Bitcoin market with confidence. He explained, "Institutional investors have been cautious about entering the crypto space due to regulatory uncertainties and concerns about custody. A spot ETF would offer them a regulated and secure way to gain exposure to Bitcoin."
Bloomberg Senior ETF analyst Eric Balchunas predicated an inflow of about $150 billion coming into the market upon approval, but Yusko thinks there is potential for even more. "I'll go further and say 1% seems more likely. That'd be $300 billion. $300 billion on a $100 billion of free float - price goes up a lot. A lot, a lot," he stated.
There is currently a wave of 10 active spot Bitcoin ETF filings, not including Grayscale's application to convert its flagship fund GBTC into a spot Bitcoin ETF. Among these applicants include the worlds largest asset manager BlackRock, who is "going to fight like cats and dogs to win market share" against the other assets managers once approved, according to Galaxy Digital CEO and spot Bitcoin ETF applicant Mike Novogratz.
Yusko emphasized the importance of the first mover advantage in getting an ETF approved, stating "Whoever is first, is gonna get the vast majority of assets." But he sees BlackRock coming into the market as a complete game changer. Where many of tried and failed to get a spot ETF approved by the SEC, Yusko believes BlackRock will be the first — and maybe only applicant to one approved.
"I believe and I've said multiple times that BlackRock will be the first one. I've actually been saying that for over a year. I actually might even go stronger and say that they'll be the only one approved," he said.
Yusko's optimism is grounded in the belief that a regulated spot ETF would satisfy the due diligence requirements of institutional investors, enabling them to allocate a portion of their portfolios to the digital asset. He mentioned that Bitcoin's maturation as an asset class and its growing recognition as a store of value had already piqued institutional interest.
A spot Bitcoin ETF "will be approved sometime around year end," Yusko believes, whether that be before the end of the year or early in 2024.
Follow me guys to know new things like this
#Gra_Deshapriya
#BinanceFeed

Digital asset management firm, Grayscale wins its highly anticipated case against the Securities and Exchange Commission (SEC) over the latter’s rejection of the firm’s spot Bitcoin (BTC) ETF application.

The U.S. Court of Appeals for the District of Columbia Circuit has ruled in favor of Grayscale ordering the SEC to set aside its earlier rejection of Grayscale’s application and reopen the review process.

Grayscale hinged its argument on the SEC’s approval of Bitcoin’s futures ETF surveillance stating that the model can be deployed for a spot ETF eliminating the Commission’s market manipulation fears. 

Donald Verrilli Jr., lead counsel for the plaintiff argued that a spot ETF would protect investors relying on the Chicago Mercantile Exchange (CME) oversight on the market. 

On the flip side, the SEC claimed that Grayscale Investments lacks data to determine the level of the CME futures surveillance on spot markets. 

The opinion of the judge also points to the SEC’s failure to distinguish between both products.

“… We agree. The denial of Grayscale’s proposal was arbitrary and capricious because the Commission failed to explain its different treatment of similar products. We therefore grant Grayscale’s petition to vacate the order."

In October 2021, Grayscale Investment applied for its GBTC fund to be converted to an ETF, a move that was rejected by the SEC as the Commission cited market manipulation concerns. 

Grayscale filed an appeal against the SEC’s decision asking the court to ultimately review the order.

The build-up to this decision has seen speculations from the community on the potential outcome. While pro-BTC ETF enthusiasts viewed a possible win as a catalyst to fresh market liquidity and surging prices, others opined that even though Grayscale clinched victory, the SEC still has a right of appeal.

Grayscale Investment expressed optimism over the status of its pending lawsuit with the SEC as it announced plans to expand the ETF team on Aug. 17.

Two key positions included a product specialist and a senior associate to “contribute to investment product development ideas and work with the ETF team towards their realization.” 

What’s Next?

A win for Grayscale is perceived as a major bullish indicator following institutional investment in Bitcoin this year. 

In June asset manager BlackRock applied for a spot Bitcoin ETF, opening the door for multiple applications from several big firms including Fidelity Investments, Valkyrie, and Wisdom Tree.

These applications alongside other developments on Wall Street pushed the price of Bitcoin over $31,000 with many bulls predicting a higher price just hours after Grayscale’s win over the SEC.  

The SEC has 45 days to file an appeal to the US Supreme Court or an en banc panel review before the execution of the judgment.

If the SEC fails to appeal which many consider unlikely, it will review the application and can either accept the application or refuse it on other grounds but it must furnish explanations regarding the distinction between the spot ETF and the futures ETF on the CME. 

Although Grayscale’s win does not automatically mean a potential approval for pending ETF applications, it is a step in the right direction as the industry faces turbulent markets amid harsh regulatory policies. 

$BTC

#Gra_Deshapriya

#BinanceFeed