Bitcoin (BTC)

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Bitcoin Discussion

Investors3  Dec 09 2019 20:44
Bitcoin Scaling Layer Lightning Network “Works Like a Charmâ€￾, Says Bitfinex CTO https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/81312421/bitcoin-scaling-layer-lightning-network-works-li The first week of Lightning Network support at cryptocurrency exchange Bitfinex, has seen more than 800 transactions make use the Bitcoin payments layer. The company’s Chief Technical Officer Paolo Ardoino says customers have deposited more than seven Bitcoin (~$52,000) to the exchange since it added Lightning payments. Despite recent Lightning Network vulnerabilities, it appears to be serving the crypto exchange well. Ardoino says “it works like a charm!â€￾ [b]“BAM!â€￾: More than Seven Bitcoin Arrive at Bitfinex via Lightning Network[/b] Last week, Bitfinex became the first major crypto asset trading venue to offer Bitcoin deposits via the Lightning Network. The firm’s Chief Technical Officer Paolo Ardoino announced the integration via Twitter: Paolo Ardoino @paoloardoino LN and LN assets are not only the best P2P micro-payments solution, but an impressive settlement layer for B2B.@bitfinex leads the way. https://twitter.com/TheBlock__/status/1201666240554684416 … The Block @TheBlock__ Bitfinex to support deposits and withdrawals on Lightning Network@bitfinex https://www.theblockcrypto.com/linked/48976/bitfinex-to-support-deposits-and-withdrawals-on-lightning-network … 47 2:13 AM - Dec 3, 2019 Twitter Ads info and privacy See Paolo Ardoino's other Tweets The integration of Lightning Network support at Bitfinex comes amid a wider push from the exchange to support Bitcoin’s scaling. Bitfinex started using bech32 (SegWit) addresses early last month. As NewsBTC reported, SegWit transactions require less space on the blockchain. As such, they effectively increase the chain’s capacity without needing to raise the size of each block – a subject that has been the focus of much impassioned debate previously. Despite the fact that major Lightning Network vulnerabilities were recently detailed, the deposit option appears to be proving popular immediately following its launch at Bitfinex. In the below tweet, Ardoino provides some early statistics for its use. Paolo Ardoino @paoloardoino More than 800 Lightning Network ???? transactions processed so far by @bitfinex 600 of which are deposits, adding up to more than 7 #bitcoin deposited. And it works like a charm! BAM! 254 8:24 AM - Dec 9, 2019 Twitter Ads info and privacy 76 people are talking about this Ardoino claims that there have already been more than 800 transactions between the platform and its users. He adds that 600 of them have been deposits, which have seen more than seven Bitcoin (~$52,000) arriving at Bitfinex. The Chief Technical Officer also described how the integration was working so far. He wrote: “And it works like a charm! BAM!â€￾ As mentioned, Bitfinex is the first major exchange to integrate support for the still young Bitcoin scaling technology. Developers at Lightning Labs, one of the most active groups working on the network, continue to urge those experimenting with the micropayments system to do so with caution. Other exchanges have previously shown interest in the technology but are yet to add it to their own platforms. NewsBTC recently reported on BitMEX, the leading Bitcoin derivatives exchange, showcasing the power of the Lightning Network at a cryptocurrency conference held in Berlin earlier this year. Attendees at The Lightning Conference could buy a coffee for a single satoshi (the smallest unit of Bitcoin). At considerably less than a penny per cup, and coffee usually being free at conferences anyway, the idea wasn’t to make money with the Lightning Network coffee sale but to demonstrate how effective the system is for even the smallest payments...
Investors3  Dec 09 2019 20:25
Logarithmic Growth Curve Charts Bitcoin Price At $170K in 2028 https://www.newsbtc.com/2019/12/09/logarithmic-growth-curve-charts-bitcoin-price-at-170k-in-2028/ Bitcoin price predictions are all over the map, with some expecting the price to reach zero, while others expect beyond a million dollars per BTC. One cryptocurrency analyst has charted the asset using a logarithmic growth curve, that could provide accurate clues as to when Bitcoin price could reach prices of $100,000 or higher. Bitcoin Price to $70K in 2024, $170K in 20208 Bitcoin is the first-ever cryptocurrency, and with it came the advent of blockchain technology. Both have the power to disrupt the financial space, and with such possible potential, the asset’s price has been predicted to reach a number of wild and lofty predictions, some of which reach as high as $1 million per BTC. But predictions are often just guesses or hopes and aren’t backed up by technical analysis or price charts that demonstrate how the asset may reach such incredible heights. However, one crypto analyst using a long-term logarithmic growth curve to chart Bitcoin price over the course of its history and into the future can clearly show the path of how Bitcoin could achieve such price predictions. The price predictions certainly chart nicely... The answer lies within the logarithmic growth curve itself, which has acted as a support for Bitcoin price throughout its existence. Even Bitcoin’s tops appear to follow the same logarithmic growth curve, allowing technical analysts like the one featured above plot out where an asset may ultimately grow to in terms of price, and when such prices could be reached. According to a pair of predictions put forth by the analyst, all based on following the potential of Bitcoin’s logarithmic growth curve, the leading crypto asset by market cap could reach the price of $70,000 per BTC in March 2024, or $170,000 per BTC come September 2028. These expectations fall in line with the high prices most other crypto investors expect Bitcoin price to reach but achieves them at a much more reasonable rate. Given Bitcoin’s penchant for going parabolic, many expect the asset to reach such prices within the year or sooner. Even Bitcoin’s highly-cited stock-to-flow model projects the crypto asset reaching prices of $55,000 per BTC come May 2020, when the cryptocurrency reaches its next halving, and the resulting BTC reward miners receive is cut by 50%, immediately throwing off the delicate balance of supply and demand. Many analysts expect the shift in supply to cause the crypto asset to explode in value, as it has in the past. But just because Bitcoin price can reach such numbers, the asset’s notorious volatility could take the price to any one of the many predictions, then correct back down to more reasonable prices, before the cycle starts once again. Related Reading | Bitcoin To Spend 2020 In Accumulation Mode, Ideal Buy Zone However, the constraints of the logarithmic growth curve suggest that Bitcoin’s volatility is decreasing, and will decrease even further as time goes on and the asset reaches its full valuations and potential, well over $100,000 per BTC towards the end of the new decade.
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