Bitcoin and rest of market benefits from a $1000+ pump from $9400 level.
A court in Hangzhou, China upheld Bitcoin’s status as virtual property. The ruling reaffirms that Bitcoin is legal to own in China and indicates to holders that they will be protected by the country’s legal system in disputes. Ruling stated “Bitcoin holds the attributes of property. It’s valuable, scarce, and disposable. Therefore, we should recognize it as virtual property according to the “General Civil Law.”
Researchers at crypto analytics firm LongHash have found 1:00 UTC to be the hour of greatest volatility for Bitcoin over the past two years. 1:00 UTC had more daily highs and lows than any other hour of the day over a period from 2017 to 2019.
ErisX has become a member of the Chamber of Digital Commerce, an advocacy group that promotes the digital asset and blockchain industry. ErisX joins other heavyweights of the industry such as Fidelity Investments, Overstock.com’s Medici Ventures, enterprise blockchain software firm R3, stablecoin platform TrustToken and Accenture.
Binance announced it had unknowingly earned 9.5 million XLM (approx. $775,000) tokens through staking rewards, and it is going to give all of it away to all Binance users who maintain XLM balances between July 20 and September 1.
U.S. Treasury Secretary Steven Mnuchin said that the department will police Bitcoin and other cryptocurrencies with very strong regulations so that they don't become like anonymous Swiss bank accounts. "We're going to make sure that Bitcoin doesn't become the equivalent of Swiss-numbered bank accounts, which were obviously a risk to the financial system."
NEO and Ontology announced partnership, making efforts to build an open, cross-chain platform and forge a next-generation Internet infrastructure. The white paper of this protocol will be released in Q3 2019, while the platform is going to be launched in Q4 2019.
Jul 26 - CME Bitcoin Futures Jul 2019 contract (BTCN19) last trade date; settlement July 29
Jul 29 - Tether Case "Order to Show Cause" deadline for NY AG's office
Aug 6 - Litecoin Block Reward Halving (Coin reward decreases from 25 to 12.5 coins)
Aug 14 - SEC decision on Bitwise ETF
Aug 20 - Blockchain Summit Singapore 2019 (forthcoming)
Aug 30 - CME Bitcoin Futures Aug 2019 contract (BTCQ19) last trade date; settlement Sept 3
Following all this excellent BTC coverage in financial media and considering the lean yield environment in traditional markets.... The BTC backed futures debut on the @Nasdaq is going to be simply glorious!!!
I now don't see much point in things like Tagomi. Why pay fees on a pre-funded prime brokerage-like execution solution when you can trade post-margin with top OTC trading firms bilaterally? To take a lesson from FX market structure, clients tend to prefer single bank D2C.
Traditional mkt prime brokerage is totally different b/c institutions have a natural need to trade equity swaps, FX derivatives, FI swaps with multiple counterparties as a course of daily business. In crypto, who truly needs or can pay for credit intermediation?Dovey Wan@DoveyWan
WOW BITCOIN IS LEGALLY PROTECTED IN CHINA Today the first property dispute case on Bitcoin finalized trial in a local Chinese court. The court confirmed the "virtual property" attribute of Bitcoin, recognized it as a virtual property with value m.caijing.com.cn/api/show?conte…
I was browsing Weibo and Wechat on sentiment around the sharp Bitcoin rally, instead of Libra, folks attributed the rally to the case above then I realized it’s indeed a big milestone
this is like unreal to me actually, has been under years of “holding Bitcoin is illegal you mother fucking criminal” cloud in mainland China and now it’s all clear Thank you Bitcoin
to be clear here, holding Bitcoin as a private property is legal does not mean “trading Bitcoin in a systematic way” is legal, yet So don’t equate this as crypto exchange is legal in China there is still long way to go One step a time
A thread on serious attack vectors in Bitcoin and how Bitcoin can overcome them. Ideas and constructive critiques welcome.
3/ many stakeholders are incentivized to mine as “white knights” at a temporary loss to reach the next difficulty adjustment. The incentives are already there and probably no preparation necessary. To ensure a smooth remedy,
7/ the caveat here is that to react in real-time, such a coalition would need to be very well prepared ahead of time. They would need to be able to identify the attack and deploy hashpower, probably within a few blocks at most. Would be good for work on this to start.
8/ another option that @LukeDashjr worked on is a client with some form of reorganization protection, such as with checkpointing. I think there needs to be more thought/debate/research on this to explore pros and cons and possible implementations.
9/ an important idea that’s a foundational argument here: Bitcoin’s game theory as described in the whitepaper breaks because of the ability to profit from shortselling. Getting it back in balance requires an adversarial mindset and active fighting against attacks.
10/ **some people responded that the free market or PoW game theory works fine. This thread is *part* of that game theory. PoW is secures by miners acting rationally self-interested. I’m arguing this coordination is an example of such.
11/ as an analogy, Andreas Antonopolous has long argued that the bitcoin community could fork malicious miners off the network in various ways. That would be circumventing PoW. A white knight coalition is still entirely within Nakamoto consensus.
12/ we’re nearing the point in time where hypothetical defenses by bitcoin stakeholders to attacks should be constructively prepared. claims about how bitcoin can survive anything might be right, but they’ll be right because stakeholders are prepared to enact the defenses.
0/ The Libra hearings were a huge milestone in the development of US political thought re: the financial system & digital assets. Both chambers of Congress brutalized Facebook, but true cryptocurrencies came out looking pretty good. My takeaways from this week below. Thread
2/ Congress held two hearings on Libra this week, one by the Senate Banking Committee & one by the House Financial Services Committee. @davidmarcus was in the hot seat answering questions. He did a good job considering Facebook doesn't have a great reputation in DC these days.
6/ Crypto remains a largely non-partisan issue -- one of a handful where you can't tell if someone is a Democrat or a Republican by their questions alone. That's great. It means we have time to be thoughtful & develop consensus across the aisle. I hope we make the most of it.
Call sellers have been the most active on ETH options today by a wide margin - with a flurry of selling on the Aug19 340 C and the Sep19 680 C. Time for a surprise melt-up?
Bitcoin volatility is back to levels not seen since the end of the great 2017 bull market
With the recent pull back in price - options market sees BTC > $20k by year end below 10% probability again
Not unusual to see a softer Q3 for bitcoin price
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