Bitcoin news update
Bitcoin drops today
Didi Taihuttu is the father of a family of three daughters. Together with his wife, they liquidated all their assets to invest in bitcoin, when it was trading near $900 in 2017 (it currently moves at $47,000). Now, the family hides their entire crypto fortune in secret vaults around the world.
More than $600 million is missing in what is probably already the largest cryptocurrency theft in history. Hackers have exploited a vulnerability in Poly Network, a platform that seeks to connect different blockchains (blockchain) so they can work together.
Although with remarkable discretion, JP Morgan has started to offer its clients access to cryptocurrency funds. So far so normal, as the investment bank thus follows in the footsteps of rivals of its own such as Morgan Stanley or Goldman Sachs. What is newsworthy is that it is doing so after its well-known CEO, Jamie Dimon, did not miss the opportunity to turn bitcoin and its peers upside down.
News about bitcoin
Bitcoin is a digital currency also known as Cryptocurrency created by a person with the alias of Satoshi Nakamoto which is not known who or who they are. The Bitcoin, like other cryptocurrencies, is used to make online payments or to exchange it for dollars or other currency, this is also known as Bitcoin exchange.
The Bitcoin is a currency created based on Bits, hence its name. This currency uses a protocol known as P2P that works as a decentralized network where there is no bank involved; transactions are validated by a group of people called miners, which when validating a transaction they get a reward which is in Bitcoins and those are the new Bitcoins that reach the market. It can be understood that the miners are what generate the new BTC.
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The condition set by Tesla to accept Bitcoin as a means of payment is that at least 50% of the energy used in the operations related to this cryptocurrency must come from renewable sources. The problem is that, at least as of today, this is just a toast to the sun, since the countries that are currently a power in this regard, mainly China, still have many steps to take to reach that idyllic percentage.
Anyone would have thought that, out of prudence, Musk would refrain from making statements again that would influence Bitcoin’s price, but of course, we know how he is. The problem is that he has once again demonstrated that the movements or even simply the statements of a company, however large and influential it may be, can completely change the markets’ perception of this cryptocurrency. And of course, the fact that the value of an investment asset is so susceptible to a statement of intent is worrying.
Bitcoin news today
The most popular is Bitcoin, but there are also other cryptocurrencies that have been gaining popularity, such as Ethereum, which from Thursday, August 5, will undergo changes. The programmers of this cryptocurrency will launch Project London on Thursday, which will introduce improvements to the system and aims to make transaction fees more predictable. This will lead people to better understand the process when making transactions with the Ethereum cryptocurrency.
Safer investments All investments made through cryptocurrencies are very difficult to predict because they all work through a system where many people “fight” each other to have their cryptocurrency investments accepted.
With the new update -called EIP-1559-, the user will know at all times the price he/she will have to pay for making operations, but a base fee will have to be paid. The price of this fee is not fixed, but will rise according to demand.