Dogecoin (DOGE) community prepares for mainstream adoption, as devs taunt new version Ana Grabundzija · 3 days ago · 2 min read
According to Cointelegraph business editor Sam Bourgi, Bitcoin is viewed by many as the best “hard money” alternative to sovereign currencies and:
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Regulation has come into play worldwide with the growth of the crypto industry. Over the years, the United States has increasingly stepped up its overwatch of the space. The Securities and Exchange Commission (SEC) cracked down on initial coin offerings, or ICOs, after the mania of 2017 and 2018. The Commodity Futures Trading Commission (CFTC) and other U.S. agencies have also engaged in various capacities.
Bitcoin and Ethereum are in retreat following a flash crash. Binance U.S. was hit with a bug Thursday, resulting in a flash crash that saw Bitcoin’s price plummet by around 90%. Ethereum also dipped 50% on the exchange.
It may be a 2019 product, but it's still a premium streamer at an unbeatable price.
Like all cryptocurrencies, the majors are digital assets that secure and verify transactions using computer science and complex mathematics, known as cryptography. Unlike traditional (‘fiat’) currencies, they are not currently issued or backed by a central authority such as a government. Instead, they run across a network of computers and are underpinned by blockchain technology – a permanent record of transactions that cannot be altered without the consensus of the network.
Popular cryptocurrencies such as Bitcoin and Ethereum are built on blockchain technology. Blockchains like Bitcoin and Ethereum are constantly growing as new blocks are added to the chain, increasing the security of the ledger dramatically.
It was first outlined in a 2008 white paper published by Satoshi Nakamoto, a pseudonymous person or group.
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“We’re working around the clock to fix the issues and to ensure we give you the quality experience you deserve,” the tweet assured users. “So we can manage demand, will be [sic] releasing each product in a staggered approach (one-by-one) – starting with the website buy & swap function – today.”
Bitcoin made a new life high at $66,998 on 20th Oct and since then it entered into a retracement phase and subsequently prices dipped below $59,000 in the following days.
But to understand the dynamic that led to this year’s depressing year for crypto, we actually should start a few years before 2018. In bitcoin’s early days, Mt. Gox was the go-to service for handling transactions. Then, in 2014, it halted transactions and slowly copped to a crypto-hack to the tune of $473 million, the biggest hack of its kind at the time, and it gave many people pause. But it was still early enough for people to believe that the blockchain system was still getting all the technical kinks out.
And while proponents tout cryptocurrencies as potentially lucrative alternative investments, few serious financial professionals view most coins — with the important exception of Bitcoin and a few others — as suitable for anything other than pure speculation.
Contrary to this assumption, if the price plummets below the 20-day EMA, traders may rush to the exit. That could pull the price down to the 50-day SMA ($39.87).
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That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
El Salvador's move to adopt Bitcoin is the first time Bitcoin has been adopted as a legal tender in a sovereign nation.