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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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The impact of Bitcoin hacking incidents in the crypto market

Studying the question of how Bitcoin hacking incidents affect the uncertainty in the overall crypto market. In the 2013–2017 period, 29 hacks occurred in the Bitcoin market where a total of 1.1 million Bitcoin were stolen. Noting that the average price for Bitcoin ( BTC ) in December 2020 exceeded $20,000, the corresponding monetary equivalent of losses is more than $22 billion, which strongly highlights the societal impact of this criminal activity.  What did crypto exchanges do to address this problem? Nowadays, about 90% of exchanges use some kind of cold storage system, which means that digital assets are stored offline. Keeping Bitcoin offline considerably reduces the threat from hacking attacks. Related: Roundup of crypto hacks, exploits and heists in 2020 Nevertheless, Jean Baptiste Su, principal analyst and technology futurist at Atherton Technology Research, highlights that in 2019, hackers stole over $4 billion, which was more than twice as much as in 2018. In fact...
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Why one Bitcoin on-chain analyst is short-term bearish on BTC price, for now

Several prominent on-chain analysts and traders have turned short-term neutral to slightly bearish on Bitcoin as BTC struggles to reclaim $33,000. Ki Young Ju, the CEO at CryptoQuant and an on-chain analyst, says Bitcoin ( BTC ) is neutral to short-term bearish for the time being. There are two major indicators that have been useful in spotting trend reversals in the ongoing bull cycle. First, whenever the Coinbase premium appeared, which means BTC is trading higher on Coinbase than on Binance, for example, BTC saw bullish momentum. Second, the momentum of Bitcoin strengthened when it saw large outflows from Coinbase. In the past several days, however, neither of these two indicators have shown any staying power as the metric dipped into negative territory on Jan. 24. BTC: Coinbase Premium Index (blue). Source: CryptoQuant When will Bitcoin market sentiment improve again? Bitcoin will most likely find a renewed bullish rally if the premium on Coinbase consistently appears...
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Retail traders, not hotshots like MicroStrategy, made Bitcoin in 2020

Without the global retail trader base, the Bitcoin market would not be what it is today: The investment champion of 2020. The twists and turns of 2020 made it arguably the best year on record to be a trader, especially if you were involved in cryptocurrencies. May’s third Bitcoin halving , coupled with the euphoric market volatility that swept global markets, made 2020 a year of gains and opportunities for crypto traders. By November, it was already clear Bitcoin ( BTC ) and other major cryptocurrencies had cemented their status as a recognized asset class among retail and institutional traders alike, having outshined all other major asset classes in the world. Bitcoin’s renewed bull run deservedly grabbed the headlines across mainstream finance and made the global retail crypto trader the champion of 2020 in the investment world. Related: Did Bitcoin prove itself to be a reliable store of value in 2020? Experts answer Unlike the gains in mainstream financial markets, crypto’s bu...
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Nasdaq-Listed Crypto Firm Sued, Accused of Defrauding Investors With Fake Bitcoin Mining Business

A class-action lawsuit has been filed against a Nasdaq-listed bitcoin mining company. The suit cites a report claiming that the business is “completely fraudulent,” with nonexistent bitcoin mining operations. Lawsuit Alleges Crypto Firm’s Bitcoin Mining Business Is ‘Completely Fraudulent’ A class-action lawsuit was filed on Wednesday in the Southern District Court of New York against Bit Digital Inc., its CEO Min Hu, and CFO Erke Huang. Bit Digital, a holding company listed on Nasdaq under the symbol BTBT, purports to engage in bitcoin mining business through its U.S. and Hong Kong subsidiaries. Its name was changed from Golden Bull Ltd. (ticker DNJR) in September 2020. The lawsuit cites a report by J Capital Research released on Jan. 11 alleging that Bit Digital operates “a fake cryptocurrency business,” which is “designed to steal funds from investors.” J Capital alleges that Bit Digital’s claim that “it was operating 22,869 bitcoin miners in China” is “simply not possible.” Th...
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Is Bitcoin a waste of energy? Pros and cons about Bitcoin mining

Do the benefits brought by Bitcoin and the improvement in our standard of living justify this additional use of energy? Bitcoin arouses passion, curiosity and has received more and more media attention, especially after having climbed the ranks of the best financial asset of the decade. However, whenever its price goes up, many doubts and questions arise, mainly around its origin and the energy expenditure by miners. The Bitcoin protocol has created a unique digital asset To understand how Bitcoin ( BTC ) is created and what mining is, the key is the double-spending problem. Before Bitcoin, there was neither a digital value to be transferred nor a digital asset to be divided into several parts. That is, if you scanned a $100 bill and wanted to transfer this bill to someone, you could only send a copy of this bill. We are all used to smartphones and computers already. We send emails, photos, but we don’t realize that process in reality: We send a copy of the email (and not the or...
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