Even Giants Started Out Small: Cooperation and the Early Days of Bitcoin – CoinDesk

The paper, “Cooperation among an anonymous group protected Bitcoin during failures of decentralization,” is interesting and valuable work, including the team’s discovery of a new way of tracking Bitcoin activity through a mining data stream dubbed the “extranonce.” But it is also highly technical and nuanced, and the topics it touches on, including Bitcoin security, […]

New Research Unearths Insights Into Satoshi and Bitcoin’s Early Days – CoinDesk

Yet counterintuitively, the data shows that even though 64 parties controlled most of the computing power during this era, they all acted in the best interest of the network. “We sought to understand the socioeconomic process by which bitcoin transitioned from a digital object with no market, to a functional medium of exchange,” researcher Erez […]

Bitcoin Bounces Above $27K-$30K Support Zone; Resistance at $33K-$35K – CoinDesk

Bitcoin experienced another relief bounce over the past 24 hours, similar to what occurred last weekend. The recent downtrend in price has stabilized above the May 12 low at $25,338, which contributed to rising momentum on the daily chart. Still, momentum remains negative on the weekly and monthly charts, which means an upswing in BTC […]

Bitcoin Might, in Fact, Be the Great ‘Equalizer’ – CoinDesk

A few months back, some of my work proximity associates thought it would be interesting to run a wide-reaching, sweeping Bitcoin survey to learn more about the demographics, user behaviors and general perceptions of this hotly debated digital thingamabob. Over Memorial Day weekend Block – the parent company of two prominent Bitcoin businesses, Cash App […]

Market Rout Prompts Analyst to Slash Bitcoin Miners’ Price Targets by Average of 65%

Bitcoin miners have gotten battered this year, their stocks declining by more than 50% on average as the price of bitcoin slumped following last year’s bull run. Such market conditions have led to investor concerns that miners won’t be able to raise the funds they need for growth because building a large-scale mining operation is […]

First Mover Asia: Bitcoin Climbs Past $30K, but Bearish Sentiment Remains – CoinDesk

Trading was choppy as investors continued to shy away from riskier assets – their behavior a product of inflationary and recessionary fears that have mushroomed steadily this year. Stocks rose as the tech-heavy Nasdaq jumped 2.6%, the S&P 500 climbed 1.8% and the Dow Jones Industrial Average gained 1.2%. The price of Brent crude oil, […]

First Mover Americas: Bitcoin Bounces Back From ‘Hurricane’ Though Miners Are Selling

ICYMI: CoinDesk’s Eliza Gkritsi and Aoyon Ashraf reported that a squeeze on bitcoin-mining profit margins – think lower crypto prices and higher energy costs – might be forcing miners to sell some down some of their bitcoin inventories to pay for the extra operating costs. But this thread of market logic was somewhat undermined this […]