Melanion Capitals Bitcoin Equities UCITS ETF Listed on Xetra for

Melanion Capital has announced that its Melanion Bitcoin Equities UCITS ETF began trading on May 6, 2025 on Xetra.

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Bull Market Caution: The Cycle shows that Traders Are Less interested in betting against Bitcoin

Traders disinterest in Bitcoin shorting during this bull cycle improves market stability, allowing people to anticipate smoother price

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Generation Bitcoin to Unite Student Groups in Worldwide Network

By providing access to educational resources, job opportunities, and mentorship, BSN aims to help younger generations get more involved in Bitcoin.

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10,000+ Person Global Survey on Crypto Finds Investors HODLing, and Surprising Amount Of Public STILL Having "NO IDEA How It Works"...

The survey was administered to 10,500 individuals between the ages of 18 and 64 from 19 countries in Latin America, Europe, Asia, and the United States, conducted by Toluna, a market research company used by many Fortune 500 companies.

The purpose of the survey was to assess the level of familiarity with and interest in the cryptocurrency industry.

The objective was to gauge public opinion on:

• Market-wide familiarity, knowledge, and attitudes regarding cryptocurrency
  
  
• The forces that drive consumer cryptocurrency interest
  
  
• The cryptocurrency outlook among investors in turbulent 2022.
  

But that discouraging data may be offset seeing 32% of those surveyed say they've already purchased crypto - a fairly impressive number considering the poll used a random sample of people, being over 18 years old was the only requirement.

Among these crypto owners, 81% said they have no plans to sell their current holdings, and 42% said they intend to purchase more in the next six months.

There's excitement about cryptocurrencies and the potential it has to improve people's lives coming from Mexico, Chile, and Brazil. These countries are the most confident and trusting of the technology.

About a year ago in another study by another company these same countries also stood out for this reason - looks like the bear market wasn't enough to change their minds.

People in those regions say they're turning to cryptocurrencies "to protect themselves from their local economies" and view it as a "long-term investment" with a high likelihood of success.

You can see all of the survey results here.

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Author: Justin Derbek
New York News Desk
Breaking Crypto News

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US financial watchdogs ask Congress to okay further oversight on Bitcoin

The Financial Stability Oversight Council (FSOC) in its latest report on cryptocurrencies suggests the digital assets market needs a lot more policing to help curb potential risks likely to crop up given the rapid adoption across the financial system.

The committee’s report has 10 recommendations, among which one seeks to see Congress grant more power to market regulators, particularly in over regulation of spot Bitcoin (BTC) trading.

While the experts, including the Chairs of the US Federal Reserve, the Treasury as well as US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), agree that regulation is already underway under existing laws.

However, while the SEC and CFTC continue to work as currently allowed, further enforcement will be helped if Congress approves more resources to help police the market – with bitcoin highlighted as one that might need these additional powers.

As per the FSOC report on Monday, the ability to properly regulate bitcoin or other cryptocurrencies that do not fall under the securities laws, is greatly hampered. BTC, the council noted, isn’t directly under the purview of the top federal agencies.

“US law provides for limited direct federal oversight of spot markets for crypto-assets that are not securities i.e the market in which trades occur for Bitcoin and possibly other crypto-assets that are not securities. As a result, those markets may not feature robust rules and regulations designed to ensure orderly and transparent trading, to prevent conflicts of interest and market manipulation, and to protect investors and the economy more broadly.”

As well as more clarity on bitcoin trading, other aspects that see regulators target more help from Congress include on recordkeeping requirements, cybersecurity and the need for market players to segregate customer assets – the latter also one of the issues highlighted in a bipartisan bill looking to effectively demarcate SEC and CFTC regulatory scopes in light of crypto.

The Financial Stability Oversight Council was created in the aftermath of the 2008 financial crisis, and one of its main roles is to identify and mitigate potential threats to the US financial system.

Its report thus also wants to see Congress come up with a regulatory framework for stablecoins, which is one of the areas that’s seen heightened regulatory action since the collapse of TerraUSD in May.

The post US financial watchdogs ask Congress to okay further oversight on Bitcoin appeared first on Invezz.

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Musings from the editor: is Peter Schiff right on Bitcoin?

It is hard to be a Bitcoin (BTC) bull these days. The latest Bitcoin price stands shy of $20,000 and two recent attempts to gain back the $25,000 level have failed.

To recapture its highs of around $68,000, Bitcoin needs to double in value and then gain another 70% afterwards. On the other side of the trade, Bitcoin needs to shed another $9,000 or so to hit the very concerning $10,000 level. 

Hate to say it, but everyone’s favorite (or least favorite) Bitcoin bear Peter Schiff is winning the debate. Consider our prior article covering Peter Schiff that you can read here. Schiff used technical analysis to argue in mid-August the rally that pushed Bitcoin to the $24,000 level was fake.

Just to put the #Bitcoin rally into perspective, take a look at this chart. The pattern remains very bearish. There's both a double top and a head and shoulders top. There's a rising wedge forming below the neckline. At a minimum support will be tested below $10K. Look out below! pic.twitter.com/OHNhwsgxxs

Fair warning: Schiff is on the losing side of the trade when pitted against hodlers who bought Bitcoin years ago. But with 40% (likely much more now) of bitcoin investors underwater, this article focuses on the near-term price action.

Invezz previously reported in September 2021 on how Schiff argued cryptocurrency adoption would result in higher consumer prices. Two months prior, another article covered Schiff’s comments that Bitcoin is doomed to hold the $30,000 level.

All that said, Schiff is raking in the Ws big time – at least for those with a very near-term timeframe.

The latest Bitcoin news is full of what seems like bullish catalysts that would prove Schiff’s bearish stance wrong. For example, Forbes describes BlackRock’s (BLK) new spot bitcoin private trust as a “game-changer” that opens Bitcoin to BlackRock’s $10 trillion warchest.

Fidelity, Citadel and Charles Schwab also announced the launch of a Bitcoin and cryptocurrency exchange to be called EDX Markets (EDXM).

The press release quotes EDXM’s Board of Directors who stated the cryptocurrency market is a “$1 trillion global asset class with over 300 million participants and pent-up demand from millions more.”

Either one of these developments by themselves should convince anyone sitting on the sidelines now is a good time to buy Bitcoin. But, nope. The Bitcoin price failed to gain any momentum, proving that what seems like encouraging and bullish developments are anything but.

So what will it take to help support Bitcoin’s price higher? BlackRock is the world’s largest asset manager while Citadel considers itself to be the “Amazon of the financial markets.” 

I can’t imagine any more meaningful catalysts that will propel Bitcoin anywhere close to its highs. In other words, Schiff’s victory dance (assuming he is taking one) will continue for quite some time, if not indefinitly.

El Salvador’s experiment with Bitcoin as legal tender has crossed the one-year mark and to say it has been a success is a stretch of the truth. Part of the original pitch from President Nayib Bukele to the global financial community was “invest here and make all the money you want.” 

As a reminder, bitcoin was trading near $47,000 at that time. No need to point out its current trading price.

Recently, Reuters highlights a National Bureau of Economic Research (NBER) study that found just 20% of the population downloaded the crypto wallet Chivo shortly after it was offered to the public with a free $30 credit. Fast forward to 2022 and “almost no downloads have taken place.” 

The report also states the local population does not understand Bitcoin, nor do they “trust it.” This is on top of the coin’s extreme volatility and high fees. Given El Salvador’s status as a Third World country, adding more economic hardships to its people at the expense of bitcoin certainly marks a failure.

Our data analyst Dan Ashmore traveled to El Salvador to see the Bitcoin experiment first hand. You can read his wonderful article here but his observations are more or less consistent with the NBER report.

Dan tells me:

Bitcoin is a complicated concept that takes time to get one’s head around. In El Salvador, it was declared legal tender overnight without prior warning to the people – announced from a Bitcoin conference in Miami. The lack of input from the people, and the absence of sufficient education to inform people how to use it and what it can be beneficial for, has hurt the whole project thus far”

But who was right on El Salvador’s Bitcoin experiment from day one? You guessed it, everyone’s favorite (or least favorite) Bitcoin bear. Schiff said on RT shortly after Bitcoin became legal tender:

El Salvador is in a lot of trouble. What they need is a dose of free market capitalism. They need massive deregulation, they need less government. They have to free up the entrepreneurial spirit of that country. And instead of embracing Bitcoin, they should embrace capitalism. That is the way out of this mess.

I have nothing against Peter Schiff, he seems to be very well informed and educated on Bitcoin and the cryptocurrency market. Much of the hate directed towards him stem from petty partisanship from Bitcoin bros that won’t tolerate outside opinions.

I do have skin in the game, so it is in my own financial interest for Schiff to be wrong. My main exposure to Bitcoin is through a Bitcoin mining company called BitFarms that trades on the Toronto Stock Exchange and Nasdaq. 

Much like the digital coin, the stock is taking a beating, down 75% since the start of 2022 with no relief in sight.

Ouch. 

The post Musings from the editor: is Peter Schiff right on Bitcoin? appeared first on Invezz.

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ETHEREUM Creator talks BITCOIN: His Two Biggest Concerns for Its Future...

For that year, miners' earnings are expected to depend only on commissions. Thankfully, there's more than a century left before that.

His second issue revolves around the Proof-of-Work (PoW) mechanism used to verify transactions, he insists that it is less than what Proof-of-stake(PoS) can offer if measured per dollar spent in transaction fees. 

However, he clarified that he's aware there's no sign this will ever happen: "the migration of Bitcoin out of Proof of Work appears to be politically unfeasible," referring to those in the Bitcoin developer community who raised the possibility of Bitcoin one day changing from PoW to PoS were met with overwhelming resistance.

Buterin addresses this, saying; "They are based on the misconception that PoW and PoS are governance mechanisms, when in fact they are consensus mechanisms. All they do is help the network agree on the correct chain. A block that violates the protocol rules (if it tries to print more coins than the protocol rules allow, for example) will not be accepted by the network, no matter how many miners or participants support it."

Perhaps this is a subtle way to address concerns some may have about Ethereum's upcoming change -  he's addressing them, but as a hypothetical Bitcoin migration to PoS. 

"The funny thing is that bitcoiners (who tend to be the most pro-PoW) should understand this well, as the Bitcoin civil wars in 2017 very well demonstrated that miners are quite powerless in the governance process," he suggested. "In PoS, it's exactly the same: the participants don't choose the rules, they just execute them and help order the transactions." 

However, Ethereum Developers faced virtually no resistance from the community when proposing the change to PoS, with the exception of miners whos concerns were based on their personal profits, not the overall wellbeing of the network. 

Ethereum makes the move from PoW to PoS later this month, maybe.  There's been too many delays to count, and I've learned Ethereum 2.0 is a "I'll believe it when I see it' thing now.

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Author: Justin Derbek
New York News Desk
Breaking Crypto News

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Canaan CEO expects ‘prolonged headwinds’ amid downward pressure on Bitcoin

Canaan Inc. (NASDAQ: CAN) Chief Executive Officer Nangeng Zhang believes the Bitcoin (BTC/USD) mining hardware provider, and the broader sector, could see “prolonged headwinds” in the next few months as the crypto market battles the downside pressure that’s thwarted bulls since the fourth quarter of last year.

Zhang, also Chairman of the Beijing-based computing solutions provider and Bitcoin miner, noted this in a statement shared in a press release highlighting the company’s unaudited Q2 2022 financial results.

Zhang says the second quarter of 2022 was particularly challenging, with highlight factors being Bitcoin’s tumble to prices below $20,000 and the Covid-19 lockdowns across major Chinese cities.

According to the Canaan chief executive, the lockdowns had huge impact on the firm’s daily operations and disrupted demand for its AI chips. Nonetheless, the company tried hard to ensure all its clients were satisfied, and supported its global expansion by integrating operations across its international headquarters in Singapore.

With Southeast Asia becoming an integral supply chain and Canaan teaming with mining partners to boost its business, total BTC mined in the quarter increased to 346.84 bitcoins as of 30 June 2022.

Overall, we are fully aware of the downward pressure from the Bitcoin price since the last fourth quarter and expect it to bring prolonged headwinds to our performance in the coming quarters. Nevertheless, we believe in the unique value of Bitcoin and its long-term prospects. We are committed to developing our supercomputing technology on more advanced nodes and providing competitive products and best-of-class services to clients around the world.”

A summary of Canaan’s financial highlights indicate total computing power sold jumped 27.5% to 5.5 million Thash/s in Q2, up from the 4.3 million Thash/s sold Q1 2022. Revenue also rose, increasing 21.9% in Q2 to hit RMB1,652.7 million ($246.7 million) – compared to RMB1,356.1 million in Q1.

The company also posted quarterly increases of 12% in gross profit, 37.9% in net income and 26.6% in non-GAAP adjusted net income. In Q2, mining revenue rose 60.9% to RMB52.1 million ($7.8 million).

James Jin Cheng, the CFO of Canaan, commented on the performance:

In the second quarter of 2022, we generated total revenue of RMB1,652.7 million, in line with our guidance range. The solid topline performance primarily resulted from the sequentially increased computing power sold and relatively high average selling price we secured with contract sales from previous quarters where the Bitcoin price was at a higher level. As the Bitcoin price further decreased in the second quarter, we responsively lowered our product price for spot sales to shoulder the pressure with our clients.”

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Peter Schiff maintains bearish stance on Bitcoin, Michael Saylor says it offers ‘hope’

Peter Schiff, an economist and staunch Bitcoin critic, has reiterated his bearish stance on the price of Bitcoin (BTC/USD), noting that the benchmark cryptocurrency could dip below $10,000.

According to Peter Schiff, putting Bitcoin’s “rally into perspective” reveals bears are still very much on top.  

“There’s both a double top and a head and shoulders top,” he tweeted, pointing to the downward continuation pattern as indicative of possible retest of prices below $10,000.

Just to put the #Bitcoin rally into perspective, take a look at this chart. The pattern remains very bearish. There's both a double top and a head and shoulders top. There's a rising wedge forming below the neckline. At a minimum support will be tested below $10K. Look out below! pic.twitter.com/OHNhwsgxxs

Bitcoin fell to lows of $17,600 in June as the bear market intensified amid broader crypto market turmoil.

Schiff, who has previously said BTC will go to zero, tweeted his comments on Monday, pointing to Bitcoin’s recent rally to highs of $25,000 and retest of support. But while the gold proponent predicts doom for BTC, the outlook from MicroStrategy’s Michael Saylor maintains “Bitcoin is hope.”

According to Saylor, the devaluation of fiat currencies amid runaway inflation in countries such as Argentina leaves BTC as the best alternative for the people. The cryptocurrency thus offers more than an investment.

“This week the benchmark interest rate reached 69.5% in Argentina. It has increased 1750bp in two weeks. The official inflation rate has surged to 71%. It is expected to exceed 90% by year-end. Bitcoin is more than an investment. Bitcoin is hope.”

This week the benchmark interest rate reached 69.5% in #Argentina. It has increased 1750bp in two weeks. The official inflation rate has surged to 71%. It is expected to exceed 90% by year-end.#Bitcoin is more than an investment. Bitcoin is hope.

Bitcoin (BTC/USD) is trading around $24,150 at the time of writing, down about 1.7% in the past 24 hours after retreating from intraday highs of $25,093 on Sunday.

That price level is the highest Bitcoin has reached since mid-June and came after a rally across risk assets, the gains driven by positive sentiment after US inflation data released last week came lower than expected.

The post Peter Schiff maintains bearish stance on Bitcoin, Michael Saylor says it offers ‘hope’ appeared first on Invezz.

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Russia is bullish on Bitcoin as it considers using cryptocurrencies for cross-border transactions 2022

Russia is bullish at the idea of using cryptocurrencies such as Bitcoin to make international payments. According to a Friday report by Interfax, the talks are taking place in an effort to reinvigorate Russia’s economic relationships with international partners, given the country’s restricted ability to use standard payment infrastructure. “The issue of using such digital […]

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Is Inflation BAD for Bitcoin Price?

Inflation is feared in markets worldwide. It not only affects economies in different countries, but also cryptos. Is inflation bad for Bitcoin?

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Building Applications On Top Of The Bitcoin Protocol

It is possible to build on the Bitcoin blockchain using layer two technologies while leveraging the security and censorship-resistance it provides.For years, Ethereum has been the darling of the developer community. As decentralized applications (DApps) and non-fungible tokens (NFTs) exploded on the Ethereum network, Bitcoin struggled to match its popularity for this purpose. It’s easy… More

The post Building Applications On Top Of The Bitcoin Protocol appeared first on BTC Ethereum Crypto Currency Blog.

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Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining

The New York Times’ campaign against bitcoin rages on. Even though this time they had the perfect opportunity to write a balanced article, they didn’t. The author reports one positive bitcoin mining story after another, while keeping a snooty attitude and suggesting it’s all a PR move. The title summarizes the New York Times’ stance, “Bitcoin Miners Want to Recast Themselves as Eco-Friendly.” Related Reading | Valkyrie Bitcoin Mining ETF “WGMI” Approved For Nasdaq Listing Before we get into it, a quick story. The foremost expert in bitcoin’s energy consumption, Nic Carter, published an exhaustive report on mining. Among other things, it contained hard data that showed to what extent China was mining using hydropower energy. Mainstream media largely ignored it. The party line was that we couldn’t trust China’s statistics. And, that China was probably burning cole.  Fast forward to last month. China banned bitcoin mining a while ago and bitcoin’s hashrate relocated, recovered, while the network functioned perfectly throughout. Most of China’s mining industry relocated to green energy-abundant countries. What did the New York Times post? An article called “China Banished Cryptocurrencies. Now, ‘Mining’ Is Even Dirtier,” that claims that Chinese miners were using hydropower energy and thus used cleaner energy. That’s the level of propaganda we’re dealing with. What Did The New York Times Say About Bitcoin Mining This Time? The article starts by featuring Argo Blockchain, the company is building a new facility that “would be fueled mostly by wind and solar energy.” They even quote Peter Wall, Argo CEO, saying. “This is Bitcoin mining nirvana. You look off into the distance and you’ve got your renewable power.” What could be wrong with that? Two paragraphs later, the New York Times starts pushing lies and embarrassing numbers:  “A single Bitcoin transaction now requires more than 2,000 kilowatt-hours of electricity, or enough energy to power the average American household for 73 days, researchers estimate.” Of course, those ridiculous claims come from Digiconomist, a widely debunked researcher who happens to be an employee of the Dutch Central Bank. And then, they blatantly quote the malicious study mentioned in the intro.  “The Bitcoin network’s use of green energy sources also dropped to an average of 25 percent in August 2021 from 42 percent in 2020. (The industry has argued that its average renewable use is closer to 60 percent.) That’s partly a result of China’s crackdown, which cut off a source of cheap hydropower.” And quote Alex de Vries, one of the study’s authors, being completely off the mark. “What a miner is going to do if they want to maximize the profit is put their machine wherever it can run the entire day.” WHAT? To maximize profit, a miner is going to find the cheapest source of energy possible. Energy is their biggest cost. The cheapest source possible is energy that’s currently being wasted. That’s the situation. BTC price chart for 03/26/2022 on Forex.com | Source: BTC/USD on TradingView.com More Feel-Good Stories Framed As Bad News The New York Times even quotes Paul Prager, TeraWulf CEO, saying “Everyone I talk to now is talking about carbon neutrality. The language has absolutely changed.” And then, the newspaper spreads the good news. “TeraWulf, has pledged to run cryptocurrency mines using more than 90 percent zero-carbon energy. It has two projects in the works — a retired coal plant in upstate New York fueled by hydropower, and a nuclear-powered facility in Pennsylvania.” None of these stories are celebrated. Remember the article’s title, they are cynically presented as PR stunts. Then, it´s time for Sangha Systems, who “repurposed an old steel mill in the town of Hennepin. Sangha is run by a former lawyer, Spencer Marr, who says he founded the company to promote clean energy. But about half the Hennepin operation’s power comes from fossil fuels.” The New York Times Closes The Loop That’s the worst example that the New York Times could find. A person who “founded the company to promote clean energy” but had to make a compromise to start his business. To close the article, the author brings us back to Argo Blockchain and tries to pull something similar. Apparently, the CEO “can’t guarantee that Argo’s new center will have no carbon footprint. That would require bypassing the grid and buying energy directly from a renewable power company.” Related Reading | Biden Loves Intel’s Plan To Produce Semiconductors. What About Bitcoin Mining? And then, they quote him again. “A lot of those renewable energy producers are still a little bit skeptical of cryptocurrency. The crypto miners don’t have the credit profiles to sign 10- or 15-year deals.” So, Argo is really trying but it’s not possible at the moment for understandable reasons. And the whole industry is moving to a greener path because the incentives are aligned that way. Got it, New York Times. Got it. Featured Image by tacskooo on Pixabay | Charts by TradingView

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Why Is Bitcoin So Volatile, Anyway? Fidelity Digital Assets Explains

Let Fidelity take the wheel and drive you through the wonderful world of volatility. Bitcoin critics wield one of the asset’s main characteristics as an unsolvable failure, but, is it? According to Fidelity, “bitcoin is fundamentally volatile.” That doesn’t deter it from fulfilling “its ultimate investment objective of preserving wealth over long time periods.”  Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC The company said all that in Fidelity ‘s latest edition of “The Research Round-Up.” In their longer explanation, they use oil and gold as examples to explain the whole volatility process. We’re in the summarizing business, though. Here at NewsBTC, we will distill their article, state the main points, and briefly comment on them.  Fidelity Explains Bitcoin’s Fixed Supply “Bitcoin is unique in that it is a good whose supply is completely inelastic to changes in price. In other words, supply does not (and cannot) change in response to price.” There will only ever be 21 million bitcoin and that’s that. With other goods, there’s a cycle. “Going back to economic principles, we know that when demand increases for a good, in the short-term the price will rise. However, the higher price then incentivizes suppliers to produce more. More supply will then bring down the price.” This doesn’t happen in bitcoin.  “With bitcoin, supply cannot change regardless of what price does. Therefore, any change in demand, short-term as well as long-term, will have to be reflected by changes in price.” It’s only logical. The laws of supply and demand can only affect the price, and so they do. “There is no change in supply to dampen the effect of price moves, even over the longer-term.” Mix that with an ever-decreasing supply of new coins, due to the halvings, and you have a perfect recipe for what bitcoiners call “number go up technology.” Fidelity summarizes the phenomenon with a quote from Parker Lewis:  “Bitcoin is valuable because it has a fixed supply and it is also volatile for the same reason.” Those two characteristics come in a package.  BTC price chart for 03/09/2022 on FX | Source: BTC/USD on TradingView.com Bitcoin As A Store Of Value “Something that has low volatility is not necessarily a good store of value in the long run, while something that has high volatility does not mean that it can’t be a good store of value in the long run.” It’s easy to get scared by volatility. Investors, traders, and even true believers let their feeling get in the way and exit the market with every little bump in the road. However, there’s no one that has holded bitcoin for more than four years and is in the red. Literally no one.  Related Reading | Bitcoin Volatility Drops To 15 Month Low; What This Could Mean Let’s get an obvious example from Fidelity, “The U.S. dollar is not volatile but has also not been a good store of value in terms of purchasing power, while bitcoin is considered very volatile, but has been a much better store of value over the past ten and even five years.” “Volatility is a byproduct of price discovery, and there is no other way for price discovery to happen in a free market.” Even though bitcoin is 13 years old, it’s still going through price discovery. How much is bitcoin really worth? We won’t know for years, even decades. “This process of individuals all coming to adopt bitcoin in different ways and timeframes necessarily must produce volatility,” completes Fidelity.  Fidelity Thinks Bitcoin’s Volatility Is Decreasing “The limited historical evidence we do have so far appears to be showing volatility declining over the long-term.” Bitcoin Volatility decreasing | Source: Fidelity The graph clearly shows that volatility is slowly fading. This is only logical. Fidelity explains, “as gold went through a major price discovery process in the 70’s, which then resulted in amassing a larger base of investors, volatility naturally declined.” We’re still early, though. This is not financial advice, but, for now, you should learn how to ride volatility and use it in your favor. Featured Image by Chris de Tempe on Unsplash | Charts by TradingView and Fidelity

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First Ever DEX Built on Bitcoin Surges to 100 Million TVL

Will Bitcoin DeFi be a major trend for 2022? Covered: What is Stackswap? Major Moment for Bitcoin DeFi TVL Rocket Fuel As CRU reported on Monday, Stacks ($STX), a Layer-1 smart contract chain that is secured by Bitcoin, launched a DeFi protocol called ALEX, which was a major step towards the adoption of Bitcoin DeFi. […]

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What The World Learned About Bitcoin In 2021

Four lessons learned in 2021 speak to the universal truths about Bitcoin and why our world needs it.

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First ‘DeFi platform’ On Bitcoin Launches On Stacks

ALEX launches first “full-service DeFi platform on Bitcoin on Stacks. How “first” is it? And, how Bitcoin is it really?  1?? 4?? 2?? @Stacks blocks to the @alexgoBtc mainnet We are live here ?? https://t.co/E27wCmGTNm — Algorithm.btc (@godfred_xcuz) January 17, 2022 ALEX, a Bitcoin DeFi platform on Stacks, announced that they are launching their mainnet […]

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Spiral BTC Releases Lightning Development Kit. Jack Dorsey’s Puppet Promotes It

The Lightning Development Kit is Spiral BTC’s latest offering to the community. And to the world. The LDK is “The simplest way to integrate Lightning into your Bitcoin wallet.” It’s free to use and it contains building blocks that anyone can merge with their product or application. The big news, however, is Jack Dorsey’s puppet. The company released this video to promote the Lightning Development Kit’s release. Is it hilarious or cringe? Opinions vary. One thing’s for sure, however, it captured the masses’ attention and got eyeballs on the Lightning Development Kit project. So, it definitely worked as a marketing tool and the Bitcoin community should cherish it. Even though the Spiral team says that the main layer is too slow, “sucks,” and it’s “painful to use.” Nothing could be further from the truth, layer one does perfectly what it needs to do. If you want speed and ease of use, just go up to layer two. That’s where the LDK lives. Related Reading | Jack Dorsey: Square Could Build Bitcoin Mining System What’s The Lightning Development Kit? The project’s documentation defines it as: “Lightning Development Kit (LDK) is a generic library which allows you to build a Lightning node without needing to worry about getting all of the Lightning state machine, routing, and on-chain punishment code (and other chain interactions) exactly correct. LDK tends to be suitable for use cases where a degree of customization is desired, e.g. your own chain sync, your own key management and/or your own storage/backup logic.” On the Lightning Development Kit’s introductory page, they promise the product was “designed from the ground up to be easily customized to your application needs.” Also, it’s “as lightweight as you need it to be and optimized to run on all embedded devices such as mobile phones, IoT devices, PoS terminals and more.” Plus, and this is very important, the use the Muun approach and help you create a single wallet experience. What does this mean? “No need to create separate Bitcoin & Lightning wallets, forcing users to backup an additional recovery phrase. Instead, we let you define your own wallet and create one unified experience.” What’s Spiral BTC And What Else Do They Do? The company used to be called Square Crypto. When Jack Dorsey abandoned Twitter to focus on other ventures, it change its name to Spiral BTC. The aim was to convey better what their mission is all about. “Bitcoin is the best money. It should be used like it. We build and fund free, open-source projects aimed at making bitcoin the planet’s preferred currency.” When all of this happened, our sister site Bitcoinist gave us the 411: “The year is almost at its close and as such companies have begun to make plans for the coming year. For Spiral, the year 2022 will be a year of expansion as it will be working on a number of projects in the new year. To do this, Spiral (formerly Square Crypto) plans to double the number of full-time developers in the coming year. Some of the projects the devs will be working on include the Lightning Development Kit (LDK), the Bitcoin Development Kit (BDK), the grant program, and the Bitcoin Design Guide and Community.“ That’s right, they sponsor the fantastic Bitcoin Design Guide and already released a Bitcoin Development Kit for those who wish to build on layer one. They also give grants to Bitcoin developers, designers, and great projects like BTCPay Server, Lightning Signer, The Eye of Satoshi, and the widely used Mempool.  BTC price chart for 12/07/2021 on Gemini | Source: BTC/USD on TradingView.com Other Jack-Dorsey-Led Bitcoin Projects As soon as the rumor of Jack Dorsey leaving Twitter hit… well… Twitter, Bitcoinist ran a piece that praised his contributions to the space and speculated on what he would do next: “The allegedly soon-to-be former Twitter CEO is perhaps best compared to Hal Finney in terms of the positive impact he has had on the cryptocurrency ecosystem. Both of have famously tweeted about “Running Bitcoin,” and both are now names nearly as synonymous with the top ranked crypto asset as Satoshi Nakamoto themselves. Finney’s legacy has sadly ended, but could Dorsey’s truly just be at the very beginning in terms of what the business entrepreneur could bring to the overall Bitcoin ecosystem?” Related Reading | Is Hyperinflation Inevitable? Jack Dorsey Says It’ll “Change Everything” Before that, Jack Dorsey’s other Bitcoin-focused company, TBD announced its first big project. The tbDEX will be a decentralized exchange and liquidity protocol. When the company released the whitepaper, NewsBTC reported on it and described the project as: “The tbDEX aims “to build bridges between the fiat and cryptocurrency worlds,” that much is clear. We still live in a Fiat world and, if Bitcoin is going to succeed, we need new, simpler, and cheaper ways to interact with said world. “There are serious challenges to realizing this vision. Fiat rails are regulated, and no interface with either the traditional monetary system or “real world” can be completely trustless.” At the Bitcoin 2021 Conference, Jack Dorsey said “Bitcoin changes absolutely everything. I don’t think there is anything more important in my lifetime to work on”. And now, he’s laser-focused on it. Things are moving fast since he left Twitter. It wouldn’t surprise us if the tbDEX releases a working version soon. They didn’t announce any timeline, though. Only one thing’s for sure. When the decentralized exchange is ready for the world to see, TBD should use Jack Dorsey’s puppet to promote it. Feature Image: Screenshot from the promotional video | Charts by TradingView

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Portal and Polygon Partner to Boost Bitcoin Usability in DeFi Ecosystem

Portal, a self-hosted wallet and true cross-chain Layer-2 DEX built on Bitcoin, has announced a strategic partnership with Polygon, popularly known as Ethereum‘s Internet of [...]

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Jack Dorsey to Launch a DeFi Product on Bitcoin on November 19th

Taproot is officially live. Is DeFi on Bitcoin next? Covered: Taproot: Historic Moment What Jack Dorsey Is Up To Bitcoin On DeFi Possibilities Taproot: Historic Moment Taproot, the first major upgrade to Bitcoin since 2017, is now fully activated on the Bitcoin network. This is a historic moment, as changes to the Bitcoin protocol are […]

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