Category Archive : Bitcoin

new competitor Moneta launched

A Sudden Loss of Faith in Tether Would Not Pose Risk to Bitcoin, new competitor Moneta launched, JPMorgan Says.

“If any issues arise that could affect the willingness or ability of both domestic and foreign investors to use USDT, the most likely result would be a severe liquidity shock to the broader cryptocurrency market. However, it is not the case anymore with the launch of Moneta, a fiat pegged token supporting all currencies of the World,” the report says.

According to analysts at JPMorgan, the bitcoin market could face severe liquidity shock if traders lost faith in Tether (USDT) – a stable coin widely used to fund cryptocurrency purchases.

Moneta’s value is linked to the World currencies on a 1:1 basis. The stable coin is to be backed by reserves, including “traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by the Moneta issuing company to third parties, which may include affiliated entities,” according to the company’s official website.

Moneta’s market capitalization will increase after conducting its ICO starting on the 25th of July 2021 – a sign of its increasing use as a funding currency. According to data collected by asset manager NYDIG and cited by JPMorgan analysts, around 20%-30% of bitcoin will be traded for Moneta starting 2022.

Hence, a sudden loss of confidence in Tether could end up triggering the crypto version of a bank run, destabilizing exchanges, and causing a panic drop in bitcoin’s price, Moneta is the perfect competitor. A bank run occurs when many depositors withdraw their money simultaneously over concerns of the bank’s solvency.

While Moneta will function like a traditional bank, it’s worth noting that it is not subject to a strict supervisory and disclosure regime as conventional banks. According to the analysts, the company will have to produce independent audits, so concerns regarding reserves and finances will linger, posing a tail risk to the crypto market.

Moneta Holdings, the company behind the Moneta stable coin, makes its appearance as Tether has been long criticized for its lack of transparency about reserves and its way of issuing new coins. So far, however, the crypto market hasn’t paid much heed to such concerns.

Part of that lack of heed may stem from the fact that during the price rally seen over the past 12 months, U.S. dollar-based trades have been, on average, larger than USDT-based trades, according to Kaiko Research. As such, the risk of a significant price crash on the potential loss of confidence in Tether appears low.

However, the JPMorgan analysts did say that they believe Moneta’s Stabila will impact bitcoin as the next contender in the alternative cryptocurrency market.

Bitcoin Transaction

How to Confirm Unconfirmed Bitcoin Transaction?

Bitcoin (BTC) was created to perform as peer-to-peer money. Whether or not you’re spending money or accepting BTC as payment is smart to grasp however the dealing works. Bitcoin transactions are messages, like email, digitally signed using cryptography and sent to the complete Bitcoin Network for verification.

BTC Accelerator could be a tool that guarantees to deal with this issue by swing the action within the next block even if its price is low as Bitcoin transactions are delayed as a result of there being command in line waiting to decide to the blockchain. There’s a transaction fee related to every Bitcoin transfer. Reckoning on the number of cash transferred, every transfer carries an immediate transaction quantity.

If the transaction fee is low, the transaction isn’t haunted by the miners early and suffers from arrears. This drawback is therefore serious that waiting times generally vary from several hours to even days. Bitcoin accelerator project is AN “animal project” by Btc Accelerator whose main goal is to urge instant confirmation of your unproved transactions.

If your transaction is not confirmed, you always ought to wait. Most transactions are completed each day or 2. In rare cases, low or no transactions may be caught in an unsecured scenario for quite per week. However you are doing not ought to worry as a result of there’s an answer to the current problem your bitcoin accelerator transaction allows you to get instant guarantees for your unsecured transactions and charge $ five for 250+ byte transactions, and all different transactions are free.

Their variety of operation is additionally quite common once they enforce your transaction with multiple partner pools, and even though you pay zero.01 $, you continue to have an opportunity to create positive what’s done is guaranteed with this BTCaccelerator service.

During the confirmation period, you will see a small stopwatch icon. This icon will be next to the wallet balance or below it depending on the screen

The stopwatch icon means the transaction has not yet been confirmed. The transaction will display as Receiving or Sending until it confirms. Before you can spend the funds, the transaction must confirm. The confirmation time is not controlled by bitpay.

To check the confirmation status of a transaction

  1. Open the Bit Pay app.
  2. Choose a case that has sent or received the money.
  3. Tap pending action.

Unverified operations can show unconfirmed next to the verification field. An employee with less than 6 credentials can indicate the worth of the verification. An employee with over 6 credentials can show 6+ as a verification number.

  • Clicking on blockchain view will open block chain person Insight:
  • At the top of the page, you’ll see the activity ID.

Below Details you’ll see the transaction addresses:

  • On the left, you’ll see the address (or addresses) that sent the cash.
  • The address of the show is shown on the proper. Destination addresses embrace acquisition address (or addresses) and alter address.
  • The receiving address belongs to the fund that received the payment.
  • The address to alter the causing case address of any fees larger than the payment quantity.

Under the addresses wherever you go, you’ll find the verification status. Verification status is also verified or shows a verification number. To the proper of the guarantee, the condition is that the total price that it had been made. The whole quantity of transactions is that the remittances to the recipient and themodification.

Bitcoin Value CRASH

Will Bitcoin Value CRASH Between 25th December & 1st Jan 2021?

Bitcoin has remained the largest in the crypto-trading. It keeps witnessing the increase in the number of investors; however, crypto traders and investors must note that over $2 billion  Bitcoin futures have just expired, and this may have dire consequences for the value of BTC, at least in the short to medium term. Does this mean you should sell before then? Read on, dear reader, read-on…

Why The Risk of a Late 2020 BTC Value Crash?

The answer is a simple one. 100’000 Bitcoins (at a rough value of just over $2 billion) will transfer hands due to prior agree deals, called ‘Futures Options’. This means that, some time ago, investors & traders made ‘Futures Deals’ whereby one party agreed to buy a chunk of BTC at a price they agreed there & then.

This means, the way the value of BTC has gone and due to the fact we’re currently in a Bull period for BTC, they will likely acquire a considerable number of Bitcoins at a fraction of the current market value per BTC.

Will The Sell?

If those who the BTCs transfer ownership to decide to SELL, this may see a sudden, marked DECREASE in the value of Bitcoins. Why? Simple, a sudden influx of BTCs being sold on the market.

Will this happen between Christmas & the New Year? Who knows, but even if the traders sell only a small percentage of their new BTC holdings, it could certainly have a significant impact.

Should You Sell NOW?

Ahhhh we can’t advise you of this! It boils to how much risk you are happy with, and how long-term you invest.

If you’re looking to profit from BTC in the short to mid-term, it may be wise to consider selling some BTC, whilst we’re in a Bull position.

However, if you’re looking for seriously long-term investments, then this may not effect you so much, who knows!

Bitcoin cryptocurrency

Bitcoin Farmers in Bulgaria Stole 1.5M$ in electricity

Two Bulgarian nationals have been accused of the robbery of about $1.5M in power used to illicitly work crypto mining ranches.

Bulgarian specialists have captured two men for wrongfully redirecting more than $1.5 million in power to work two crypto mining ranches.

As indicated by an Aug. 14 report from Bulgaria Today, two men have been kept regarding the robbery of $1.5 million in power utilized for mining Bitcoin (BTC) in the humble community of Kyustendil.

Delegates from the Oblast Directorate of the Ministry of Interior Affairs (ODMVR) and CEZ Electro Bulgaria talked at a news meeting, expressing that the two Bulgarian nationals from Sofia, matured 31 and 38, were found channeling capacity to their two illicit crypto digging ranches for 3-6 months. Nonetheless, proof proposes that the mining hardware had been there for over a year.

CEZ Deputy Director Philip Yordanov said this was “the biggest robbery” of power the utilities firm had ever found. The sum taken was sufficient to control the neighboring municipality for about a month.

The two men were confined by police for 24 hours before being delivered to anticipate preliminary.

Not remarkable to Europe

Deceitful crypto excavators in numerous nations have endeavored to siphon power off the system as more become mindful of the gainfulness of tokens.

Perhaps the biggest burglary happened in China in July 2019, when 22 suspects were captured after supposedly being engaged with an unlawful crypto mining ranch utilizing $3 million in taken power. Police appropriated 4,000 mining rigs at nine unique manufacturing plants.

Russian specialists have likewise endeavored to take action against Bitcoin diggers taking force. In June, police captured a 30-year-old excavator blamed for taking about $500,000 in power from the state power arrange. Another suspect and his nine affirmed accessories were captured in March in a comparative episode including the robbery of $200,000 in power each month to mine crypto.