Bitcoin’s Taproot Upgrade Is Moving Along
Taproot, the name of a new bitcoin update, is currently advancing through the vetting and review process by some of the world’s best developers. Taproot will make bitcoin more fungible, increase capability for smart contracts, and make transactions more private. For more info on the specifics of each other these features, read more.
Strike Pushes Lightning Network Ahead
A new service by the name of Strike was put on display by Jack Mallers, a well known badass in the Bitcoin community for his work on the Lightning Network (LN). In the video below (apologies if the video messes up email formatting) Jack shows how he and Strike are tying consumer banking directly into the LN. “What if your bank could speak bitcoin?” Now that’s a powerful question worth exploring.
Bakkt App Coming Summer 2020
Bakkt has revealed that it will be rolling out a new consumer app which will various digital goods. This will include crypto currencies, but could also mean loyalty points, equities, and more. The app is expected to function similar to that of Paypal, but with greater focus on crypto. Read More
Flaw Found In Trezor Hardware Wallets!
Kraken recently published a notice that a new flaw was found in certain Trezor Hardware Wallets by means of glitching the device’s voltage. Trezor has responded with steps to prevent this hack by using a different type of passphrase not stored on the device (BIP39). If you own a Trezor, please read more.
Bitcoin Service ‘Paxos’ Not Privacy Friendly
Ronald McHodled, below (lol), was targeted recently after withdrawing his coins from Paxos to a mixing service, where transactions are sent by users wishing to increase the level of privacy in their financial lives. If coins are not sent to mixing services, it should be assumed that exchanges like Paxos (and other blockchain analysis firms) are tracking the user’s funds. It sets a bad precedent in the industry as this continues, and it is not recommended to do business with Paxos if privacy is of importance to you.
Bitcoin Moves Above 200 DMA
Daily Moving Averages are often a very strong signal in traditional markets. Bitcoin recently broke above this 200 day trend, signaling a very bullish scenario is likely in the months ahead.
NY Times ‘Journalist’ Reports On Bitcoin’s Black Market
Nathaniel Popper, NY Times journalist and author of the book Digital Gold (which is great btw), published a sad article on the use of illicit activity on the Bitcoin network. The numbers Nathaniel uses are off, the title is misleading, and 99.9% of illicit activity will always be done in cash. No criminal in their right mind would use a publicly verifiable blockchain. Read more here, or don’t, the article is just click bait after all!
Presidential Candidate Andrew Yang On Crypto
When Andrew Yang was asked about the regulatory outlook for Bitcoin and the crypto industry, he strongly stated his opinion that the US should be encouraging innovation and that crypto cannot easily be stopped.
Could Bitcoin Fix This?
(insert thinking emoji)
Critics of capitalism need to remember that our most common tool for measuring goods and services, is in fact a monopolistic feature of government control.
Week of Jan 27-31st
The index ranged from 41-57, where 0 signals extreme fear.
The BTC price ranged between $8200 and $9600.
CryptoRadar
Bison's CryptoRadar analyzes real-time data, thousands of tweets, and provides a sentiment overview of the most discussed cryptocurrencies. The radar is pretty neutral this week, with Ethereum leaning positive.
