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Twitter To Allow Users Receive Bitcoin And Ethereum Via Its Tip Jar Feature

Soon Twitter may allow its subscribers to include Ethereum and Bitcoin cryptos in their portfolios for receiving crypto tips. Alessandro Paluzzi, in a tweet, backed the claim confirming that Twitter is working hard to achieve this aim. It will enable users to add the two crypto addresses to their profile to get tips through Tip Jar Feature. Alessandro, the app developer, added. Related Reading | Singapore Central Bank Selects 15 Firms For Retailing CBDC Believing Paluzzi means that Twitter is to update its Tip Jar feature, as announced this past May. He stated on September 2nd that ‘users  needless to link a Strike account to include the cryptos to their profiles.’ Paluzzi displayed a screenshot showing how Twitter notifies users when to get tips in crypto through the micro-blogging site. Twitter Will Reward Users With Bitcoin Twitter’s Tip Jar feature will let journalists, creators, and non-profit organizations earn from their tweets using tips. In addition, the micro-blogging site gives users the opportunity of sharing links in their Venmo accounts, Patreon, Bandcamp, Cash App, and PayPal. This will serve as their compensation for the tips they receive from their account followers during the first phase of the feature. However, the company seems to now move gradually towards adopting digital currencies as a new option for payment. According to reports, Twitter may adopt Strike’s services in generating Bitcoin invoices via the Lightning Network. However, Paluzzi, the app developer, objected to this idea. He explained that it’s not necessary to link a Strike account to add Ethereum and Bitcoin addresses to user’s profiles. Reports on the Tip Jar Feature Seeking Alpha reports that Jack Dorsey, the CEO of Twitter, has shown interest in cryptocurrencies for a while now. He has been observed discussing it too. To the CEO, Bitcoin will serve as a unifying factor for a country that is deeply divided. In Twitter’s earnings call held in July, Dorsey referred to it as a ‘big part’ of the future of Twitter. In addition, he stated that he thinks there are lots of innovations other than mere currency earnings. He emphasized this, referencing the recent plan of decentralizing social media to provide additional economic incentives. Dorsey also emphasized Bitcoin is becoming a vital part of Social media handle. Related Reading | Ethereum Software Client Geth Issues Hotfix To Tighten Security MacRumors report suggests that they should approve Bitcoin tipping for iOS beta code as the testers cannot access the feature. As soon as a user sets up the feature in his profile, his followers can send tips to support him. At the time of writing BTC trades sideways | Source: BTCUSD on TradingView.com The giant social media handle has announced that it will make the Tip Jar Feature available in various Indian languages. They will include Tamil, Hindi, Marathi, Gujarati, Kannada, and Bengali. Featured image from Pixabay, chart from TradingView.com
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Ethereum Software Client Geth Issues Hotfix To Tighten Security

Geth, the most renowned software client of Ethereum, has provided a hotfix to the threatening security challenges in its code. The news was posted on Tuesday at 07:08 UTC to GitHub. However, the details of the terms were not disclosed immediately. The release is titled Hades Gamma (V1.10.8); it was posted to Ethereum GitHub on Tuesday at about 07:08 UTC. According to one of the posts on the release page, it didn’t disclose the details of the vectors, including their fixes. This would have allowed the dependent downstream projects and node operators to update their software and nodes. Related Reading | Bittrex Global CEO Declares Dubai Will Gain Benefit From Cryptocurrency Market Expansion A report from Ethernodes.org states that close to 75% of all the nodes on the Ethereum blockchain run Geth. Therefore, these users are advised to upgrade to Geth V.1.10.8, the updated version, immediately. Guido Vraken Discovering The Bug In Ethereum A software developer Guido Vraken announced on August 18th that he had discovered the bug. Guido Vraken is a scientist who specializes in discovering open-source software code vulnerabilities. He is also interested in scientific works, product development and validation, regulatory matters, and teaching. Guido Vraken is a graduate of the  University of Ghent and a volunteer at Natuurpunt. As stated earlier in the GitHub security advisory post, Geth’s vulnerability can make a node unable to execute Ethereum blocks. The Ethereum experienced a temporary split on its chain during the last Geth code’s fix for a software bug. The split resulted from communication lapses from Geth developers regarding the bug, which was a deliberate act. However, several computers known as ‘nodes’ don’t bother to customize their Geth users to the normal implementation. This led to a consensus failure in the blockchain, as recorded in November 2020. Geth Developers Take On The Latest Version In a blog post, the Geth developer team mentioned that not exposing the security vulnerability is backed by some reasons. First, the act delays all potential attacks on intending node operators that require more time to migrate to the newest version. Now, Geth developers emphasize how urgent it is for all their software users to migrate to the latest version. However, their formal August 18th announcement didn’t explicitly describe the vulnerability nature and form. Related Reading | Former DigitalX Executive Appointed As The New Binance Australia CEO One of the Geth developers, Péter Szilágyi, stated his opinion while tweeting about the code release on Tuesday. He said that “People were not happy with our hotfix last time; they noted that we didn’t make the announcement. So we have decided to do it differently this time; let’s know the one that works better,” – he added. Infura and other major Etherum-based wallets and services have pledged their support for this latest Geth release. They publicly made this announcement on Twitter. Featured Image From Pixabay
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Will Bisq Be Part Of Jack Dorsey’s Bitcoin DEX Project? Here’s The 411

As NewsBTC informed, Square will develop a Bitcoin-only Decentralized Exchange. However, will they work in conjunction with Bisq, the “peer-to-peer trading network”? Jack Dorsey seemed to confirm that both organizations are going to start talking at the very least. Why does this matter? What makes Bisq special? Keep reading to find out. Related Reading | Why Square Will Create New Bitcoin-Focused Company, According To CEO Jack Dorsey The Tweets That Point To Bisq Def! Cc:@brockm — jack⚡️ (@jack) August 27, 2021 Bisq answered that tweet with which Dorsey announced that his company’s TBD project would be to “build an open platform to create a decentralized exchange for Bitcoin.” The Bisq people claimed that they’ve been building their product “to be the go-to peer-to-peer DEX for bitcoin power-users.”Then, they offered collaboration, “Our heads together could result in something better than any of us could imagine.”  Dorsey answered “Def!” and copied Mike Brock, leader of the TBD project. That exchange doesn’t guarantee anything, sure. But the organizations will meet, and they seem to share a lot philosophically speaking. The Bitcoin community, for its part, reacted under Jack’s tweet with a lot of “This is the way,” exciting .gifs, and Bisq praise. BTC price chart for 08/29/2021 on Coinbase | Source: BTC/USD on TradingView.com Why Will Dorsey’s DEX Be Bitcoin-Only? In NewsBTC’s announcement of Square’s Decentralized Exchange project, we quoted: Jack Dorsey’s tweet quoted an extensive thread by Square executive Mike Brock, TBD project head, who outlined the potential development paths for the open-source DEX. “We believe Bitcoin will be the native currency of the internet. While there are many projects that will help make the internet more decentralized, our focus is solely on a sound global monetary system for all. But including all requires a few pieces we think we are missing.” Brock said in one of his tweets. This is in tune with ideas expressed by Dorsey himself. The reason I have so much passion for #Bitcoin is largely because of the model it demonstrates: a foundational internet technology that is not controlled or influenced by any single individual or entity. This is what the internet wants to be, and over time, more of it will be. — jack⚡️ (@jack) January 14, 2021 After all, Square created the Bitcoin-focused TBD “with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services.” Square is creating a new business (joining Seller, Cash App, & Tidal) focused on building an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services. Our primary focus is #Bitcoin. Its name is TBD. — jack⚡️ (@jack) July 15, 2021 Everything That Makes Bisq Special A couple of years ago, Manfred Karrer, Bisq co-founder, spoke to CoinDesk.”The goal is to become as decentralized and censorship-resistant as bitcoin. That’s a very high goal and it took bitcoin a very long time to get there,” he said. On Bisq’s site, they claim that “Bisq is code, not a company.” And said software is “open-source and community-driven.” What else makes Bisq special? Well… Related Reading | Running Bitcoin: Passing The Torch From Hal Finney To Jack Dorsey First of all, “It’s software you run on your own hardware, which connects to other people running the Bisq software to facilitate trades.” Sort of like how torrents work. Bisq does not hold Bitcoin or any national currency. All the deals are between “the trading peers themselves.” And Bisq only has minimal information about either of them. Also, “no data is stored on who trades with whom.” And speaking about privacy. “All Bisq data is transferred over its own secure peer-to-peer network, which is built on top of the Tor network—no central servers.” The service doesn’t require registration. To grease the wheels, “Both traders are required to pay security deposits, which are refunded after trades are completed.” Bisq doesn’t accept Paypal or credit cards because chargebacks are too easy. Bisq eliminates “the need for trusted third party exchange services.” The Bisq network “is fully peer-to-peer in that it requires no centrally-controlled servers and has no single points of failure.” However, you should also know that someone hacked Bisq that one time, stealing $250K. Featured Image by Jeremy Zero on Unsplash – Charts by TradingView
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37% Of U.S. Investors Decline To Liquidate Cryptocurrency Assets in Bearish Situations

Recent research reveals that US cryptocurrency investors have an average allocation of $1,107 in digital assets. About 37% of the investors confessed non-liquidation of their crypto holdings even for important bills or other payments. However, there’s this discovery that Elon Musk has a great influence on the crypto-related decisions of most respondents. A survey of 1,000 US crypto investors by GamblersPick, a betting platform, displayed a shocking revelation. 37% of these holders won’t dispose of their assets irrespective of the circumstance. Furthermore, 51% confirmed that luxury purchases wouldn’t be too enticing for them to opt for cash out. Also, the survey took a critical examination of the different generations of crypto investors. It reveals that the Baby boomer and Generation Z groups have the largest and the least investment in cryptocurrency, respectively. In addition, the male forks have more interest in digital investment than women, with an average of $1,940 worth of cryptocurrencies. On the other hand, the statistics for the female is at a median value of $1,375 worth of digital assets. Related Reading | Facebook Officials Claim Novi Received Approval From Major U.S. States From its survey, GamblersPick discovered an increase in the demand for digital assets among US investors. This recent surge in demand even prompts people to borrow cash from family and friends to invest. It reflects in the results of the use of credit cards in purchasing cryptocurrencies by every fourth respondent. The investors revealed that they plan to increase their cryptocurrency investments by adding an average of  $1,645 within 12 months. The statistics have men on the lead again with the proposal of increasing with $1,988 while women plan for $1,100. What Influences Decisions Of Cryptocurrency Investors? Furthermore, the research reveals the reason behind the recent increase in interest in crypto investments. Most of the respondents, amounting to about 75%, confirmed their confidence in a future surge in the value of digital assets. Moreover, while 24% see cryptocurrency as a means of gaining great returns, 32% use it to diversify their portfolio. The cryptocurrency market is back on track after a bearish pullback | Source: Crypto Total Market Cap on TradingView.com Additionally, about 21% of the participants used cryptocurrency as a hedge over inflation that emanates from the swindle in the economic condition. The recent COVID-19 pandemic, as well as the massive national currency print-out, are contributory factors. Related Reading | Solana Continues Bullish Trend, Becomes The 10th Largest Cryptocurrency Also, online forums and social media have a prominent influence on cryptocurrency-related decisions and moves on U.S. investors. Among them is Reddit that topped the list having about 34% influential power. Others include Twitter, Youtube, and Facebook, with their influences rated as 26%, 23%, and 16%, respectively. When it comes to influences from individuals, a man stands out among others. His influence is even greater than those from the mentioned companies above. He is Elon Musk, the CEO of Tesla, a popular electrical car company. 35% of the research respondents confessed that their choices in digital assets are based on Musk’s statements, opinions, and tweets. Other influencers are Warren Buffett ranking second and Snoop Dogg, the rap star, ranking third. They have an influential rating of 9% and 7%, respectively. Featured image from Pixabay, chart from TradingView.com
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Ethereum Creator Vitalik Buterin Censures Facebook And Twitter’s Crypto Plans

Vitalik Buterin, creator of Ethereum commented through Bloomberg on Square and Facebook’s blockchain efforts. Recall that Jack Dorsey, CEO of Twitter and Square, revealed his plans for a DeFi platform based on Bitcoin in July. He said the platform would be a competitor to Ethereum. Reacting to Dorsey’s announcement, Buterin stated his skepticism for the Square’s anticipated DeFi plans. His major reason was the dependence of the firm on Bitcoin. Buterin explained that Ethereum’s smart contracts and native functions work like ‘lockboxes.’ With such operations, DeFi investment terms can’t be broken. Also, there’ll be no requirement holding of a user’s funds by the DeFi service. Buterin analyzed the possibility of Square controlling user’s funds via multi-sig wallets that belong to different participants. Furthermore, he said that Square’s CEO will build his personal system that will implement those rules. Buterin confirms that though the plan is similar to Ethereum, the end will give a weaker trust project model. Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys Also, Buterin aired his view concerning Facebook’s project of Diem cryptocurrency. He stated that Mark Zuckerberg, the CEO, and founder of Facebook, is experimenting on the future. He further added that Facebook CEO is probing for the upcoming stage of the Internet in advance of the superannuation of Facebook. By acknowledging Diem’s old identity of Libra, Buterin advised Facebook’s decision for a project naming “Rebirth of dead ends.” Ethereum Founder Lashes At Facebook Ethereum’s founder mentioned that Facebook has mistrust from many people as its major problem. He said the company still failed in its attempts to regain trust through the use of a Diem blockchain conglomerate. He revealed that several old members of Diem, like MasterCard, Visa, and PayPal, have also exited the group in 2019. The project is still officially operational despite Buterin’s unfavorable disposition to Diem and its sluggish rollout. The company confirms its proposals of launching as of May. There are still proposals on the possibility of building community-owned successors to Twitter and Facebook blockchain. Buterin comments that multiple projects are already attempting to do so. Furthermore, he revealed that most of these projects are Ethereum-based. However, it could be a threat as well as an opportunity. The green candle blowing on the chart shows Ethereum is back in bullish momentum | Source: ETHUSD on TradingView Aave has one of the recent attempts of a social network based on the Ethereum blockchain. The proposal came in July and it’s for a Twitter competitor. This proposal was a response to Jack’s plans of building a platform for DeFi on Bitcoin. Related Reading | American Rapper Tyga To Launch OnlyFans Crypto-Competitor In the conclusion of his interview, Buterin highlighted some topics such as the transition to and scalability of Ethereum 2.0. Also, he mentioned the regulatory enforcement as well as decentralized finance projects in the ecosystem. Featured image from Cointribune.com, chart from TradingView.com
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Why Is Bitcoin-Twitter Suddenly Obsessed With The Essay “Anatomy Of The State”?

It’s only logical that Jack Dorsey is a Twitter influencer. The mind behind Twitter used his platform to promote “Anatomy Of the State,” an essay by Murray N. Rothbard. The Austrian School of Economics is slowly permeating mainstream consciousness. Dorsey’s focus and dedication to Bitcoin’s ideals reached a whole new level. And crypto-Twitter reacted in different ways, with Rothbard’s name trending over the weekend. Related Reading | Why Square Will Create New Bitcoin-Focused Company, According To CEO Jack Dorsey The tweet that started it all offered no explanation: https://t.co/LOWVNVrBex — jack⚡️ (@jack) August 14, 2021 The .pdf file containing it is freely distributed by Mises.org, an institution dedicated “to promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.” About the incident, the increased attention they received, and Dorsey’s choice, the institution said: Dorsey linked not to some article on bitcoin or money, but to Murray N. Rothbard’s seminal 1974 essay “Anatomy of the State.” This short missive may well represent Rothbard’s most bracing and concise attack on government as an institution, and that’s saying something.  So, this is not just some essay. What does it say about the government exactly? A Summary of  “Anatomy Of the State” This short book is deep and covers many concepts and hard truths. The monopoly on violence. The fallacy of the “social contract” concept. How governments use “vested economic interests” to keep us at bay. “The alliance between the State and the intellectuals.” War. Revolution. The alliances between different states. State power and social power. A lot. However, we could summarize “Anatomy Of the State” with this example it provides: “One method of the birth of a State may be illustrated as follows: in the hills of southern “Ruritania,” a bandit group manages to obtain physical control over the territory, and finally the bandit chieftain proclaims himself “King of the sovereign and independent government of South Ruritania”; and, if he and his men have the force to maintain this rule for a while, lo and behold! a new State has joined the “family of nations,” and the former bandit leaders have been transformed into the lawful nobility of the realm.” And that explains the world we live in. BTC price chart for 08/17/2021 on Bitstamp | Source: BTC/USD on TradingView.com Ok, But, What Does Rothbard Have To Do With Bitcoin? The Mises.org institute links Dorsey’s “Anatomy Of the State” tweet to this one: #wtfhappenedin1971 — jack⚡️ (@jack) August 15, 2021 That one refers to this phenomenal website that uses easy to understand charts to show how everything got exponentially worst when Nixon un-pegged the US Dollar from gold, giving rise to the Fiat currency era. The era we’re living in. Well, that directly relates to the Austrian School of Economics, as the institute explains: Only Austrian economists present a coherent critique of pure fiat currency, which means only Austrians have anything compelling to say about Nixon’s final closure of gold redemption. The Mengerian and Misesian explanation of how money arises and obtains value as a highly saleable commodity requires no central fiscal or monetary authority. It requires no state. And, do you know what else requires no state or central authority to function? Bitcoin, the greatest money ever created.  “The Mengerian and Misesian explanation of how money arises and obtains value as a highly saleable commodity requires no central fiscal or monetary authority. It requires no state.” @jeffdeist for @mises commenting on @jack’s tweets https://t.co/BvlKNM6cAZ — Stephan Livera (@stephanlivera) August 16, 2021 What Is Sound Money And How Do We Get It? And that relates “Anatomy Of the State” to our sister website’s Book Club. They’re  analyzing “The Bitcoin Standard,” and defined sound money as:  Austrian economists pose that, “the best money revolved around understanding salability and what the market would choose as money.” Saifedean Ammous adds one more thing. … the salability of money according to the will of its holder and not some other party. Combining these criteria together formulates a complete understanding of the term sound money as the money that is chosen by the market freely and the money completely under the control of the person who earned it legitimately on the free market and not any other third party.  Related Reading | Why a Hedge Fund’s Attempt to Usurp Twitter CEO Jack Dorsey Could Hurt Crypto So, to sum it all up, the human family doesn’t need the independent government of South Ruritania to dictate what we should use as money. We have Bitcoin. And that’s what Dorsey’s “Anatomy Of the State” tweet was all about. Featured Image: extract from “Anatomy Of the State’s” cover image | Charts by TradingView
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Why Is Bitcoin-Twitter Suddenly Obsessed With The Essay “Anatomy Of The State”?

It’s only logical that Jack Dorsey is a Twitter influencer. The mind behind Twitter used his platform to promote “Anatomy Of the State,” an essay by Murray N. Rothbard. The Austrian School of Economics is slowly permeating mainstream consciousness. Dorsey’s focus and dedication to Bitcoin’s ideals reached a whole new level. And crypto-Twitter reacted in different ways, with Rothbard’s name trending over the weekend. Related Reading | Why Square Will Create New Bitcoin-Focused Company, According To CEO Jack Dorsey The tweet that started it all offered no explanation: https://t.co/LOWVNVrBex — jack⚡️ (@jack) August 14, 2021 The .pdf file containing it is freely distributed by Mises.org, an institution dedicated “to promote teaching and research in the Austrian school of economics, and individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.” About the incident, the increased attention they received, and Dorsey’s choice, the institution said: Dorsey linked not to some article on bitcoin or money, but to Murray N. Rothbard’s seminal 1974 essay “Anatomy of the State.” This short missive may well represent Rothbard’s most bracing and concise attack on government as an institution, and that’s saying something.  So, this is not just some essay. What does it say about the government exactly? A Summary of  “Anatomy Of the State” This short book is deep and covers many concepts and hard truths. The monopoly on violence. The fallacy of the “social contract” concept. How governments use “vested economic interests” to keep us at bay. “The alliance between the State and the intellectuals.” War. Revolution. The alliances between different states. Social power. State power. A lot. However, we could summarize “Anatomy Of the State” with this example it provides: “One method of the birth of a State may be illustrated as follows: in the hills of southern “Ruritania,” a bandit group manages to obtain physical control over the territory, and finally the bandit chieftain proclaims himself “King of the sovereign and independent government of South Ruritania”; and, if he and his men have the force to maintain this rule for a while, lo and behold! a new State has joined the “family of nations,” and the former bandit leaders have been transformed into the lawful nobility of the realm.” And that explains the world we live in. BTC price chart for 08/17/2021 on Bitstamp | Source: BTC/USD on TradingView.com Ok, But, What Does Rothbard Have To Do With Bitcoin? The Mises.org institute links Dorsey’s “Anatomy Of the State” tweet to this one: #wtfhappenedin1971 — jack⚡️ (@jack) August 15, 2021 That one refers to this phenomenal website that uses easy to understand charts to show how everything got exponentially worst when Nixon un-pegged the US Dollar from gold, giving rise to the Fiat currency era. The era we’re living in. Well, that directly relates to the Austrian School of Economics, as the institute explains: Only Austrian economists present a coherent critique of pure fiat currency, which means only Austrians have anything compelling to say about Nixon’s final closure of gold redemption. The Mengerian and Misesian explanation of how money arises and obtains value as a highly saleable commodity requires no central fiscal or monetary authority. It requires no state. And, do you know what else requires no state or central authority to function? Bitcoin, the greatest money ever created.  “The Mengerian and Misesian explanation of how money arises and obtains value as a highly saleable commodity requires no central fiscal or monetary authority. It requires no state.” @jeffdeist for @mises commenting on @jack’s tweets https://t.co/BvlKNM6cAZ — Stephan Livera (@stephanlivera) August 16, 2021 What Is Sound Money And How Do We Get It? And that relates “Anatomy Of the State” to our sister website’s Book Club. They’re  analyzing “The Bitcoin Standard,” and defined sound money as:  Austrian economists pose that, “the best money revolved around understanding salability and what the market would choose as money.” Saifedean Ammous adds one more thing. “… the salability of money according to the will of its holder and not some other party. Combining these criteria together formulates a complete understanding of the term sound money as the money that is chosen by the market freely and the money completely under the control of the person who earned it legitimately on the free market and not any other third party.”  Related Reading | Why a Hedge Fund’s Attempt to Usurp Twitter CEO Jack Dorsey Could Hurt Crypto So, to sum it all up, the human family doesn’t need the independent government of South Ruritania to dictate what we should use as money. We have Bitcoin. And that’s what Dorsey’s “Anatomy Of the State” tweet was all about. Featured Image: extract from “Anatomy Of the State’s” cover image | Charts by TradingView
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How Big Is Bitcoin’s Lightning Network? The Answer Will Surprise You

The Lightning Network is one of the most bullish developments that the Bitcoin ecosystem has seen so far. And all the available metrics point up, a healthy and vibrant network is brewing. However, investor Kevin Rooke took a deeper look and found out that the Lightning Network is probably even bigger than previously thought. “Inaccurate comparisons and privacy preserving features make it hard to truly understand how big the Lightning Network is.” Related Reading | Bitcoin Lightning Network Reaches Record Capacity What does Rooke mean by that? Let’s find out. The Lightning Network By The Numbers A casual look at popular analytics platform 1ml tells us that, at the time of writing, The Lightning Network is composed of 24,688 nodes, 64,577 channels, and the network capacity is 2,272.89 BTC. All of those numbers are up. However, “The Lightning Network is not a borrowing protocol, an AMM, or a store of value. Furthermore, the idea that Bitcoin is “locked” on the Lightning Network is misleading at best.” There are a number of DeFi protocols that have a much higher number of BTC “locked,” and people mistakenly compare that number to the Lightning Network ‘s capacity. In DeFi, usually, the funds are in fact locked and can’t be touched until the contract in question runs its course. In Lightning, things are quite different:  As explained in the book Mastering the Lightning Network, funds that are added to the Lightning Network are not locked, they are unleashed. As soon as a new Lightning channel is opened, those funds can be sent anywhere on the Lightning Network in an instant, and for almost no cost. And speaking about channels, Kevin Rooke talked about them in an “investor letter” dated June 28th: There are currently over 51,800 channels routing payments between 22,000 nodes, and 21% of those Lightning Network channels were created in the last 30 days. On the surface, 21% monthly channel growth seems impressive, but new channel creation is a slightly misleading metric as nodes frequently open and close new channels. A more accurate measure of growth is that the total number of channels on the Lightning Network is up by 10.8%, or over 5,000 channels in the last month. Compare that to the more recent number that we gave you at the beginning of the section and note how the number of channels grew in just a month and a half. That’s not all, take into account that: Some nodes don’t want their channels to be included in the public Lightning Network graph, and instead choose to open ‘unadvertised’ or ‘private’ channels. BTC price chart for 08/13/2021 on FTX | Source: BTC/USD on TradingView.com Privacy Doesn’t Let Us See How Much Money Goes Through Lightning Most of the transactions that take place inside the Lightning Network are private. Only at the time of settlement between two parties are the final numbers forever registered into the Bitcoin blockchain. That means it’s impossible to know exactly how much money is going through Lightning on any given day. Or in total.  Related Reading | Bitcoin Community Celebrates as Crucial Lightning Network Project Launches However, Rooke estimates that “annual on-chain volume is almost 6x higher than the value locked into the Bitcoin network, despite the relatively high transaction fees and slow block times that make payments cumbersome.” That’s on the main Bitcoin chain.  The Lightning Network is designed for making fast and inexpensive payments, so if $85 million of Bitcoin is already on the Lightning Network, it would make sense for annual payment volume to be at least 6x higher, or at least $510M. That’s a bare minimum. And things are just getting started. In September, El Salvador’s Bitcoin Law goes into effect and the whole country will start using the Lightning Network. And take into account that roughly a quarter of El Salvador’s GDP comes from remittances, so it’s not a stretch to think that Salvadoreans all over the world will start using it as well. Add to that Jack Dorsey’s projects, both Square and Twitter are looking into Lightning integration. In fact, Dorsey published this tweet yesterday: Agreed. Every account on Twitter being able to link to a Lightning wallet however… — jack⚡️ (@jack) August 12, 2021 And this is just the tip of the iceberg. For more impressive numbers and deductions, be sure to read “The Lightning Network Is Bigger Than You Think.” Featured Image by Anuraj SL from Pixabay – Charts by TradingView
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Breaking: Twitter Faces Criminal Liabilities for Third Party Content In India

Twitter has lost its intermediary status in India for failing to comply with the latest IT regulations that came into effect on May 25. The intermediary status offered a legal shield to social media platforms that protected them from persecution over content posted on the platform. This would also mean the social media platform would

The post Breaking: Twitter Faces Criminal Liabilities for Third Party Content In India appeared first on Coingape.

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