China’s BTC Volume on LocalBitcoins Hits 2-Year Low

China’s Bitcoin (BTC) trading volumes have continued to drop, hitting a two-year low on peer-to-peer exchange LocalBitcoins. According to Bitcoin statistics website Coin Dance, China’s BTC trading volumes have been gradually dropping from late 2019 to the present, touching to their lowest weekly volume in more than two years. During the week ending on Jan. 25, China traded just about 4.5 million yuan ($648,000) on LocalBitcoins, down over 90% from the intra-year weekly high of more than 45 million yuan ($6.4 million). The all-time high of China’s weekly Bitcoin trading…

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Remembering Tamás Blummer, Pioneering Bitcoin Developer

Tamás Blummer, a Bitcoin developer since 2012 and founder of several groundbreaking Bitcoin-focused projects, reportedly passed away on January 12, 2020, after a long fight with cancer. Among Blummer’s contributions to the Bitcoin ecosystem were Rust Bitcoin, a project focused on creating a Bitcoin network library written in the Rust programming language; CoinTerra, an early ASIC miner manufacturer; and Bitcoin technology company Bits of Proof, which was acquired by decentralized finance company Digital Assets Holdings, where Blummer served as the chief ledger architect. “RIP @TamasBlummer,” tweeted Adamant Capital partner Tuur…

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Bitcoin Price Saunters And Ripple Steals Headlines

This week saw the World Economic Forum in Davos. What better opportunity for US Treasury Secretary, Steven Mnuchin, to take a dig at 17-year-old Swedish girl, Greta Thunberg? Of course, many took the opportunity to discuss important things like Bitcoin and cryptocurrency. Bitcoin Price: Meh… Okay, so I’d like to just write ‘meh!’ and move on, but apparently I’m contractually obliged to give you a little more than that… Bitcoin’s heroic ascent of the $9k peak was over before they’d even got out the sandwiches. In fact, it had fallen…

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Sorry Bears, Bitcoin Is Still In Mid-Term Uptrend: Here’s Why

Bitcoin started a downside correction from the 2020 high at $9,191 against the US Dollar. However, BTC price is still in an uptrend and it could find buyers near $8,000 or $7,670. Bitcoin price started a short term downside correction below $9,000 and $8,800. It is currently trading above $8,200 and there are many important supports on downside. There is a declining channel or a bullish flag forming with resistance near $8,500 on the daily chart of the BTC/USD pair (data feed from Kraken). The pair is likely to find…

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Bitcoin ‘Needs More’ PR from People Like Peter Schiff: Binance CEO

Bitcoin (BTC) skeptic and gold bug Peter Schiff is unwittingly advertising the cryptocurrency’s virtues over other investments, says the CEO of exchange Binance. In a tweet on Jan. 25, Changpeng Zhao (known as “CZ” in crypto circles) argued Schiff was failing in sewing distrust of Bitcoin among social media followers and beyond. CZ: We need more “negative voices” “I think Peter is doing great to promote bitcoin. He probably does not realize that given his illogical reasoning, most people will do exactly opposite of what he says,” he wrote. CZ…

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How Payswap Can Confuse Blockchain Analysts, Benefiting Bitcoin Privacy for All

Although Satoshi Nakamoto’s white paper suggests that privacy was a design goal of the Bitcoin protocol, blockchain analysis can often break users’ privacy. This is a problem. Bitcoin users might not necessarily want the world to know where they spend their money, what they earn or how much they own, while businesses may not want to leak transaction details to competitors — to name some examples. But there are solutions to regain privacy. A new solution was proposed on the bitcoin-dev mailing list this week, by the Bitcoin and Lightning…

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XRPTipBot Gets Twitter Ban Over ‘Impersonation’ Claims

Twitter has banned the XRPTipBot account again this week, claiming its impersonating another account. Ripple and TipBot developer Wietse Wind, assured users that funds are safe, and has since implemented a new working version of the XRP-tipping mechanism for the platform.  XRPTipBot: Too Good At Impersonating Itself Wind first took to Twitter itself (where else?) to inform users that the @xrptipbot account had been blocked, and not for the first time. Funds were safe, but Twitter tips could no longer be processed through the account, he explained. He was given…

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Ethereum Just Broke $160 And It’s Vulnerable to a Larger Decline Below $155K

Ethereum is declining and it recently broke the $160 support, similar to bitcoin. ETH price is likely to continue lower below the $158 and $155 support levels in the near term. Ether price is showing a few bearish signs below the $162 level against the US Dollar. The bears seem to be in control and they are likely to aim a larger decline below $155. This week’s key bearish trend line is in place with resistance near $164 on the hourly chart of ETH/USD (data feed via Kraken). Bitcoin is…

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