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MinerASIC
21.01.2022
The correlation between $BTC and its futures basis since July 2021 is quite telling.
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HODLTON
This is exactly why it's incorrect when people say "bitcoin is decentralized with only 21M in supply". Derivatives and structured products changes the adoption curve and thus the demand side of the equation.
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FibbonacioBitcoins
Futures kill markets. Did the same to gold.
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MinerASIC
@FibbonacioBitcoins , It’s different with $BTC due to near instantaneous final settlement, but it can have outsized effects when spot inflows are weak.
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LordSatoshi
it's quite the opposite a bearish divergence this time.
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SonnyNakafomo
He already did it - it’s done, see Gold and Silver, price manipulation for years, nothing is ever done (Gensler not in charge of commodities but still, nothing is done as such, it is what it is)
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DonaldMcBlockface
Seemed everyone was doing huge arbitrage trades Q3/Q4, now dying down. Needs some new catalyst or we’re looking at a year of choppy trading and drifting downwards as long term accumulators take position. Hoping 2023 brings some better action
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BabyYoda
That should bode well for the futures-based ETFs. I had my doubts that the same returns could be achieved. We'll see.
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ElliottLostmykeys
Futures killing the market as usual
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sirCryptodorfer
@ElliottLostmykeys , That is the beauty of this market...volatility...
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RichardKing
If you're bullish on bitcoin, buy spot and take custody.
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NiFTonWaves
Might be time to get some limit orders ready
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HerculesOraculus
21.01.2022
All or Nothing
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RichardKing
Thats exactly what will happen if you keep listening to all the hype predictions and speculations... no one can predict the market...suppressed and controlled.
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BabyYoda
looks like reality )))
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RogerTheRippler
Buy that dip!
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MinerASIC
It's free real estate)
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SonnyNakafomo
21.01.2022
Money On Chain Ecosystem Turns Two, Here's What It Achieved So Far
Money on Chain, an array of solutions designed to bring decentralized finance practices to Bitcoin (BTC) blockchain, turns two today. Since its inception, it has released BTC staking module, stablecoins and a liquidity mining program.

Money on Chain celebrates two-year anniversary
Today, on Jan. 22, 2022, Money on Chain (MoC) protocol celebrates its second anniversary. During the last month, the ecosystem accomplished a number of impressive milestones on its way to integrating Bitcoins into DeFi.

As of early Q1, 2022, more than $50 million are locked into DeFis on Bitcoin; Money on Chain ecosystem is responsible for 50% of this massive amount.

Money on Chain (MoC) issued BPro token to allow Bitcoiners to rent their BTC positions, with free leverage, passive income and unparalelled flexibility.

Over recent months, BPro token outperformed the underlying asset (spot Bitcoin) by 25%, which makes it a viable hedge alternative for BTC holders. BPro holders can stake their assets to receive rBTC rewards periodically. A total of 0.25% of BPro revenue is transferred back to the Money on Chain (MoC) protocol.

25% APY on BTC: Unique offer for all Bitcoiners (BTC)
Also, MoC token, Money On Chain's core native asset, can be staked with 12.43% rewards. In all, Bitcoin (BTC) holders can enjoy up to 25% APY on their stakes.

Max Carjuzaa, Money on Chain's co-founder and contributor, is fascinated by the progress his products achieved and the prospects unlocked by its latest releases:

The past two years have demonstrated the robustness and outstanding performance of the model, even in the most averse market scenarios. What Money On Chain promised at launch has been successfully delivered and keeps growing.

Besides staking protocols and Bitcoin lending/borrowing model, MoC's ecosystem of product includes RIF Dollar-on-Chain (RDOC), a USD-pegged stablecoin on Bitcoin.
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BabyYoda
21.01.2022
If this indeed turns out to be a 4HR $BTC Ascending Triangle, we may very well see the end of this January slumber for Bitcoin
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ElliottLostmykeys
I keep expectations low for now.
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HODLTON
That's a bearish pattern .
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DonaldMcBlockface
Looks more like a bear flag imo.
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HODLTON
21.01.2022
$BTC bids layered down to ~$37k on Binance
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NiFTonWaves
Because they can be pulled, do they mean anything? How can you tell they are not spoofing in any heatmap analysis?
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HODLTON
@NiFTonWaves , yeah those who are front running them are likely being used as exit liquidity
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Bitcoin Mining 'Is a Perfect Battery': Why Foundry Insists Green Activists Are Wrong
Bitcoin miners are pushing back on environmental criticism by saying their industry is actually accelerating a transition to renewables.
In brief
Bitcoin mining's migration to North America has raised scrutiny of its environmental impact.
Mining giant Foundry claims the industry is accelerating a move to renewables.
The issue has become hot enough to merit a hearing in Congress.
When Congress meets on Thursday to discuss the environmental impact of cryptocurrency, it will highlight a growing problem for Bitcoin miners: the perception, fair or not, that they are a menace to the planet.

One company that will be watching closely is Foundry, a Digital Currency Group subsidiary whose network of Bitcoin mining machines has quietly become one of the two biggest in the world, the other being China's Antpool; volume varies from week to week.
Foundry is an American success story, helping its customers rake in thousands of Bitcoins and helping repatriate a growing industry to U.S. shores. But the growing environmental scrutiny could mean Foundry's future depends on persuading governments and the public to accept a novel and contentious proposition: that crypto mining will play a key role in ushering in an era of renewable energy.

Bringing Bitcoin back home
Bitcoin is a borderless technology, but got its start in the U.S. The first to use it were Bay Area cryptographers, including the coder and Satoshi-confidante Hal Finney, who mined it on home computers. In those early days, many Americans mined Bitcoin on their own—sometimes on cell phones—or started companies to mine it at scale.

By 2015, however, the popularity of Bitcoin meant that anyone who hoped to mine new coins on a regular basis required machines with specialized chips, known as ASICs, dedicated to that purpose. And as with so many other computer components, Asian companies became the ones to make them.

China, in particular, dominated not just the manufacture of Bitcoin "rigs" but also the use of them; Chinese mining pools for years raked in the lion's share of newly mined Bitcoins. Then in 2020, the North American miners who still held on to about a 15% share of the market got a boost when Foundry entered the field.
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NiFTonWaves
They can try to wrap it in anything, but power consumpting to produce nothingness should be banned.
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MinerASIC
BTC mining isnt sustainable.
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LordSatoshi
21.01.2022
Muh decouplingg
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HODLTON
The decoupling narrative is fantasy, not reality. Maybe in a few years, but for now, crypto is Nasdaq on leverage, that's it.
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NiFTonWaves
@HODLTON , Well said . Any crypto positives recently are only mark ups on positive equity . This market now has broken , BTC is going below 30 fairly quickly I think . Diamonds become paper ...
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BabyYoda
Yes, but have you seen tech afterhours... everything is down big. This doesn't show yet in the nasdaq chart (but will)
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MinerASIC
Nice wick on BTC, sub 40k tomorrow and for a long time
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El
ElliottLostmykeys
Typical. A local resilience can quickly become a big negative if the tension from legacy is too big, making the resulting correction sharper et deeper on BTC, like an elastic.
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RogerTheRippler
Will this game sucks my family is starving
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DonaldMcBlockface
Very coupled and major gov manipulation. Tech sells off then they release they want input on a digital dollar.
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LordSatoshi
@DonaldMcBlockface , Manipulated markets not nice place anymore
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Ri
RichardKing
Easy trade, there’s a delay on bitcoin every time when the Nasdaq drops, we’re still early
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RogerTheRippler
shut down the markets for a little and let it chill)
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SonnyNakafomo
Decoupling over-leveraged retailers from their funds yet again.
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FibbonacioBitcoins
Mmm hmm, yep - def no correlation there that I can see
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RogerTheRippler
21.01.2022
Awkward Octopus
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SonnyNakafomo
Only thing I’m attracted to is Green Candles )
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HerculesOraculus
well)))) almost true
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FibbonacioBitcoins
Disagree.
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sirCryptodorfer
But sexually passive if you hodl doge
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NiFTonWaves
21.01.2022
Bitcoin

what an obvious TP or short at 43,500.

tried to outsmart the market today I guess..
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HerculesOraculus
Good thing my trades were in good profit, but dang…this chop is bad for my (mental)health!
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DonaldMcBlockface
21.01.2022
$BTC Number of Addresses Holding 0.1+ Coins just reached an ATH of 3,314,752
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LordSatoshi
I see Bitcoin as ultimately becoming a reserve currency for banks, playing much the same role as gold did in the early days of banking.
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sirCryptodorfer
21.01.2022
Grey Hat Hacker Agrees To Return 80% Of Funds Stolen In Multichain Exploit
Cross-chain DeFi platform Multichain has been the latest in what is now a long line of DeFi protocols being exploited. This time around, the attackers were able to steal user funds from the platform by gaining access to accounts that haven’t revoked access to the platform. In total, about $1.5 million was lost to hackers but one hacker who stole about $200,000 is offering to return most of the stolen funds.

Hacker Wants To Return Money
The hacker, in this case, now being referred to as a grey hat hacker, was able to successfully steal $200,000 from one of the users who hadn’t revoked access to the platform. The hackers were able to carry out the attack by exploiting a bug in the protocol. Multiple wallets have been pinpointed to be behind the attacks, suggesting that there may not be a single hacker stealing the funds.

The hacker in this case has offered to return 80% of the $200,000 that was stolen from a user. In a transaction to the user who lost the funds, the hacker who referred to themselves as a white hat hacker asked the user to send the transaction where they lost their Wrapped Ether and they would send 80% back to them, keeping 20% for themselves for the hassle.

“Whitehat here, send me the tx you lost your weth, I give 80% back,” the hacker said. “The rest is the tips for me saving your money.”

MultiChain Begs For Funds Back
Although the hacker mentioned above offered to return most of the funds they stole, it was not the only address that exploited the block. Numerous other addresses on the Multichain protocol had their funds stolen to the tune of $1.43 million. It is unclear if the hacker that offered to return some funds was the same person behind all of the addresses.

Multichain took the route of most protocols that have fallen to exploits recently and sent a transaction to the hacker with a message to please return the funds. The hacker is yet to respond to the message if they ever will.

The protocol first made news of the exploit public on January 17th, the same day the Crypto.com hack took place. A report from The Block noted that a single user lost almost $1 million in the hack and has since offered a $156,000 tip to the hacker if they return their funds.
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RichardKing
21.01.2022
$BTC Aqua Boxes again doing the trick. Bought early 40ks, sold 44.5k area, bought back again in the Aqua box. Back to resistance area but a good break out.
Let's hope for the best.
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sirCryptodorfer
well done
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NiFTonWaves
only green poles!!!
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