Bitcoin (BTC) Price Analysis: Technically Challenged at 34477 – 30 October 2023

Bitcoin (BTC/USD) maintained a positive technical bias early in the Asian session as the pair continued to oscillate around the 33819 area, an upside price objective related to recent upward activity around the 29705 area.

Comments

Post a Comment

Popular posts from this blog

NPM Attack: Javascript Library Compromise Goes After Bitcoin Wallets

Image
Bitcoin Magazine NPM Attack: Javascript Library Compromise Goes After Bitcoin Wallets A major NPM developer, qix, has had their account compromised . It was used to push malware that targets and searches for bitcoin and cryptocurrency wallets on users devices. If detected, the malware would patch the code functions used to coordinate transaction signing, and replace the address a user is trying to send money to with one of the malware creator’s own addresses. This should mostly be a concern for web wallet users, so in the Bitcoin ecosystem Ordinals or Runes/other token users, as unless an update for your normal software wallet happened to be pushed just earlier today with the compromised dependency, or if your wallet dynamically loads code directly from the wallet back end bypassing the app-store, you should be fine. NPM is a package manager for Node.js, a popular Javascript framework. This means it is used to grab large sets of pre-written code used for common functionality to b...
Read more

The Bitcoin Ponzi Scheme Paradox

Image
"Ponzi scheme" has become a byword for all manner of financial frauds and monetary scams. When a rapid six month collapse erased $2T (trillion) from crypto market capitalization in 2022, mainstream media outlets were quick to again label cryptocurrencies, including Bitcoin, Ponzi schemes . Writing in the Chinese People's Daily online edition, Shan Zhiguang and He Yifan, representing the Chinese Blockchain-based Services Network (BSN), claimed : Ever since Satoshi Nakamoto released "Bitcoin: A Peer-to-Peer Electronic Cash System" in 2008, leading to the official birth of Bitcoin, the debate surrounding virtual currency (Cryptocurrency) has never stopped for a moment. [. . .] In its essence, the author believes that virtual currency is undoubtedly the largest Ponzi scheme in human history. Can Bitcoin be legitimately described as a Ponzi scheme? If so, is it really the largest Ponzi scheme in history? In the rapidly developing world of tokenised assets and di...
Read more

In Defense of Bitcoin Culture

The original article this piece is responding to: Reflections on Bitcoin Culture .  Bitcoin changes our lives. It’s an almost spiritual observation that we’ve all seen within ourselves. After acquiring some, learning how it works, and to various degrees delving into what this decentralized, uncensorable, proof-of-work money is , we’ve seen our lives change. It echoes history . Some people see god in it. Bitcoiners have had their lives upended, their perspectives shifted, and their value systems altered. We see how our behavior changed from our pre-Bitcoin selves, our emphasis now squarely placed on real things, hard things, the long term, and the local . We look to our inner selves, and we look after ourselves. We see to our families. We set our own house in order before we criticize the world. Bitcoin encourages higher-level thinking, of the dynamic kind that once characterized good economics . Once a Bitcoiner, we become less prone to believing commonly accepted just-so stor...
Read more