Tag: Bitcoin

Quantum-Safe Bitcoin Transactions Need No Protocol Upgrade

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A Bitcoin researcher has come up with a way that could immediately make Bitcoin transactions quantum-safe without the need for a soft fork.  In a proposal published Thursday, StarkWare chief product officer Avihu Levy proposed a Quantum Safe Bitcoin (QSB) transaction scheme that he said would remain secure “even against an adversary with a large-scale quantum computer running Shor’s algorithm.”  He added that the scheme requires no changes to the Bitcoin protocol and operates entirely within the existing legacy script constraints. The downside is that it is costly and likely…

Bitcoin Rally Accelerates As Investors Ignore Recession Risks

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Key takeaways: Bitcoin climbed to $72,000 as rising recession odds and a weak US dollar boosted the appeal of scarce financial assets. Rising oil prices and a wobbly truce with Iran threaten to reverse Bitcoin’s recent gains. Bitcoin (BTC) reclaimed the $72,000 level on Thursday despite data showing rising inflation and weak economic growth in the United States. Crude oil prices jumped back to $97 after senior Iranian leaders claimed that the US and Israel had violated the ceasefire. Traders now fear that risk markets could react negatively, potentially sending…

Bitcoin Whales Dump $271M In BTC: What May Happen Next?

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Data shows Bitcoin (BTC) investors who had held their positions for over seven years took profit last week by selling $271 million in BTC. A similar wave of “OG whale” selling in January coincided with a more fragile market that lacked buyer demand, triggering a sharp dip in the BTC price. Current onchain data reflects a much stronger market where BTC supply absorption and reduced selling may allow Bitcoin to hold its place in the $70,000-$72,000 range. OG Whale BTC supply meets strong absorption Data from Capriole Investments shows that…

Bitcoin flirts with $72K while a whale bets $80M it won’t last

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Bitcoin pushed above $72K this week, notching an 8% gain over seven days. Normally, that kind of move would have the market doing a victory lap. Instead, the vibe is something closer to a horror movie where the characters celebrate too early. One anonymous whale just placed an $80 million bet that this rally is living on borrowed time. And the Fear and Greed Index, sitting at 14, confirms that almost nobody actually feels good about any of this. The whale’s $80M short Here’s the play. A single unidentified trader…

Solo Bitcoin miner wins $222K after beating 1 in 100,000 odds

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Imagine walking into a casino, placing a single chip on a roulette number, and winning. Now imagine the wheel has 100,000 slots. That’s roughly what a solo Bitcoin miner just pulled off. On April 9, a lone miner using just 70 terahashes per second of computing power solved block 944,306, pocketing 3.128 BTC, worth approximately $222,012. That hashrate is equivalent to a single 2019-era Bitmain Antminer S17+ machine, the kind of hardware most serious operations retired years ago. The details behind the improbable win The reward broke down to 3.125…

Bitcoin Price Due ‘New Upwards Leg’ Toward $80,000, Says Trader

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Bitcoin (BTC) circled $71,000 at Thursday’s Wall Street open after US inflation data conformed to expectations. Key points: Bitcoin waits for new catalysts as US PCE inflation data conforms to market expectations. Friday’s CPI release will be the first to show any impact of the US-Iran war. $80,000 remains in play as a BTC price target, a trader says. PCE data avoids surprises for risk assets Data from TradingView showed cooling BTC price volatility after local highs near $73,000 the day prior. BTC/USD one-hour chart. Source: Cointelegraph/TradingView Relief over a…

Bitcoin Depot Reports $3.7M Loss after Breach of Corporate Wallets

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Crypto ATM operator Bitcoin Depot revealed that it lost about 50.9 Bitcoin, worth roughly $3.7 million, after a hacker gained access to some of its internal systems. The breach happened on March 23 after the attacker took control of credentials linked to Bitcoin Depot’s corporate Bitcoin (BTC) wallets, according to a Monday filing with the US Securities and Exchange Commission. The company said that customer accounts, platforms and personal data were not affected. Bitcoin Depot added that the attack has not had a major impact on daily operations, and said…

Bithumb seeks to recover 7 Bitcoin after massive distribution mistake

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South Korea’s leading crypto exchange Bithumb has initiated provisional attachment proceedings to recover seven Bitcoin still outstanding from a mistaken payout earlier this year, Chosun Biz reported Thursday. The incident occurred on February 6 when Bithumb accidentally distributed 620,000 BTC, worth over $40 billion at the time, to 695 users instead of the intended 620,000 won to 249 users due to an input error during an event payout. The mistake was detected within 20 minutes, and transactions were halted. Bithumb has retrieved most of the funds through direct outreach, but…

Morgan Stanley Bitcoin ETF Trades $34M On Debut

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The Morgan Stanley Bitcoin Trust (MSBT), the first spot Bitcoin exchange-traded fund (ETF) offered by a US bank, recorded $30.6 million in inflows on its trading debut, giving the Wall Street bank a respectable, but not blockbuster, entry into the spot Bitcoin ETF market. MSBT started trading on the NYSE Arca on Wednesday, generating $34 million in trading volume, slightly above the expectations of Bloomberg ETF analyst Eric Balchunas, who predicted first-day volume would reach $30 million. As of April 8, MSBT held 444.4 Bitcoin (BTC), worth around $31.7 million,…

Bithumb Launches Legal Action to Recover 7 Bitcoin From Payout Mistake

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South Korean crypto exchange Bithumb has begun legal proceedings to recover 7 Bitcoin still missing from a payout error that saw 620,000 BTC mistakenly distributed during a promotional event in February. The exchange has filed for a provisional attachment, a court-approved measure that freezes assets ahead of a civil lawsuit, targeting users who have yet to return the funds, according to a Thursday report by local outlet Chosun Biz. On Feb. 6, the exchange wanted to distribute a total of 620,000 won ($420) to 249 event winners. Instead, due to…