Amid blackouts and police raids, Iran considers benefits of Bitcoin mining

A country where Bitcoin seemed poised to flourish is now trying to make the cryptocurrency a scapegoat.

As blackouts and police raids rock Iran’s upstart Bitcoin mining industry, a match between a currency without a permit and a country strangled by inflation that once seemed a perfect fit is now being questioned.

Bitcoin miners face chip shortage amid rising demand
As Cointelegraph previously reported, Iran joined Pakistan as a cryptocurrency superpower in the Middle East, due in part to cheap and Crypto Profit heavily subsidised electricity prices, as well as a boost in activity following the approval of Bitcoin mining as an „industrial activity“ for power plants in 2020. It is estimated that there are more than 1,000 legal entities currently engaged in mining activities.

However, the short history of cryptocurrency mining in the country has not always been optimistic. Authorities have moved to shut down at least 1,000 illegal farms in recent months, and Bitcoin spot prices have been mispriced at the moment relative to the rest of the world due to high demand as investors flee the rapidly inflating Iranian rial.

Alleged Nasdaq-listed Bitcoin mining „shell“ company faces class-action lawsuit
Now, another source of friction has emerged as the country is plunged into frequent power outages in major population centres.

On 16 January, several media outlets reported that Iran suffered power outages across most of the country. However, social media reports have indicated that power supply has been erratic both before and after the 16 January blackout, and several cities have experienced blackouts over the past two weeks.

Authorities have been quick to blame Bitcoin mining for the blackouts and have conducted police raids on illegal mining operations, but some experts think the government is simply looking for excuses to defend a crumbling power grid.

Cryptocurrency mining allegedly worsens Iran’s air pollution
In an interview with the Associated Press on Thursday, former deputy head of Iran’s Department of Environment Kaveh Madani said Bitcoin was an „easy victim“ and that „decades“ of administrative mismanagement are a more likely root cause.

Furthermore, while retail mining may currently be acting as a scapegoat for the government, it is clear that the authorities are not turning their backs entirely on cryptocurrencies. As recently as last month, Bitcoin was used to facilitate import payments to Venezuela.

How to set up your own cryptocurrency mining rig in 2020 to earn Bitcoin and Ether
While the relationship may be shaky at the moment, this certainly doesn’t appear to be the end of Bitcoin in Iran.

Massive BTC surge: the Bitcoin bulls are back – new all-time high this weekend?

The daily Bitcoin indicators are bearish, but the short-term signals are extremely bullish. Bitcoin (BTC) has continued to rise since hitting a local low on January 11th.

Despite the significant increase , it is likely that One Bitcoin a Day will only decline in response to the previous correction and that this is not the start of a new uptrend.

The trend is considered bullish as long as BTC is trading above $ 36,701.

Bitcoin continues to rise

Bitcoin has been up since Jan 11, after hitting a local low of $ 30,261. The low coincides with the so-called 0.382 Fib retracement of the entire upward move.

It’s worth noting that the rally was preceded by a significant hidden bullish divergence in the RSI. Despite the rebound, the technical indicators still look bearish. The MACD is consistently bearish and the stochastic oscillator has made a bearish cross.

Should BTC see a reversal, the closest support area would be found at $ 29,050.

Possible rejection

The six-hour chart shows that BTC has moved above the 0.618 fib retracement level from the previous downward move and is approaching 0.786 fib at $ 39,483. That target is also a horizontal resistance level.

The technical indicators are gradually all becoming bullish.

Even so, unless BTC manages to break the $ 39,483 resistance area, the current move is still likely to be a retracement and not the start of a new bullish move.

It seems that Bitcoin is currently trying to do just that.

The two hour chart is still showing no weakness as both the MACD and RSI are rising. In addition, Bitcoin appears to be following an ascending support line that coincides with the small support area at $ 36,200.

As long as BTC is trading above this level, the trend is considered bullish.

The so-called wave counting suggests that Bitcoin (Go to Buy Bitcoin Cheap Guide ) may have just completed an ABC correction structure in which waves A: C had a 1: 1 ratio. Since BTC has not yet been discarded, it is possible that Wave C could expand to the 1.61 Fib of Wave A to hit a high at $ 42,505.

While this would be a new all-time high, it would still allow corrective move as the previous decline spanned three waves. This suggests that the pattern is a shallow correction.

Da Bitcoin verlorenen Boden zurückgewinnt, wetten Optionshändler auf $52K Bewegung bis Ende Januar

Trotz des 20%igen Absturzes von Bitcoin am Montag, wetten einige Optionshändler auf eine weitere Preisrallye in den kommenden Wochen.

Zum Zeitpunkt der Drucklegung liegt der Preis von bitcoin (BTC, +0,69%) bei $35.580 und damit fast 16% über dem Tiefststand von $30.305 vom Montag. Dennoch ist die Nummer eins der Kryptowährungen nach Marktwert immer noch weit von den Wochenendhochs über $40.000 entfernt.

Einige Händler, obwohl, haben den Kauf Jan. 29 Ablauf Call-Optionen bei der $52,000, $64,000, und $72,000 Ausübungspreise auf der Deribit Austausch.

Eine Call-Option gibt dem Käufer das Recht, aber nicht die Verpflichtung, den zugrunde liegenden Vermögenswert zu einem vorher festgelegten Preis an oder vor einem bestimmten Datum zu kaufen. Eine Call-Option ist eine bullische Wette, während eine Put-Option eine bearische Wette ist.

Bitcoin Optionsgeschäfte auf Deribit

Insgesamt wurden in den letzten 24 Stunden 4.000 Kontrakte zum $52.000 Strike gekauft, so die Daten der in der Schweiz ansässigen Datenanalyseplattform Laevitas. Die $64,000 und $72,000 Strike Call-Optionen zeigen ein Kaufvolumen von 3,250 und 2,000, beziehungsweise.

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Theoretisch ist der Kauf des $52,000 Strike Calls eine Wette, dass Bitcoin am oder vor dem 29. Januar über dieses Niveau steigen würde, was die Option „in-the-money“ macht.

Derzeit sind die drei Kontrakte out-of-the-money (OTM), mit dem Kassakurs weit unter diesen Ausübungspreisen, und werden bei 0,045 bitcoin, 0,0260 bitcoin, und 0,0190 BTC gehandelt, beziehungsweise.

Die tiefen OTM-Optionen sind relativ billig und neigen dazu, einen bedeutenden Wert zu gewinnen, wenn die Preisrallye zustande kommt, was große Renditen auf kleine Investitionen bringt. Als solche kaufen erfahrene Händler mit zinsbullischen Preiserwartungen oft Call-Optionen zu höheren Ausübungspreisen.

Daher deuten die jüngsten Käufe von Call-Optionen bei den Strikes von $52.000, $64.000 und $72.000 auf eine bullische Marktstimmung hin. Andere Optionsmarkt-Indikatoren geben einen ähnlichen Hinweis.

Der ein-, drei- und sechsmonatige Put-Call-Skew, der die Kosten von Puts im Verhältnis zu Calls misst, bleibt im negativen Bereich verankert. Das ist ein Zeichen dafür, dass Call-Optionen, oder bullische Wetten, eine höhere Nachfrage als Puts anziehen.

Laut Analysten bleiben die Fundamentaldaten der Kette stark und der Weg des geringsten Widerstands führt auf die höhere Seite. „Lassen Sie sich nicht von der kurzfristigen $BTC-Preis-Aktion ablenken. Die Fundamentaldaten sind stark, das Netzwerk ist gesund. Zoom out and HODL“, tweetete Rafael Schultze-Kraft, CTO bei der Blockchain-Analysefirma Glassnode.

Allerdings kann die Kryptowährung eine harte Zeit Charting eine schnelle Bewegung zu neuen Rekordhöhen über dem Höchststand von $41,962 am Samstag erreicht haben, angesichts der US-Dollars Index erlebt eine Erholung Rallye, Schwächung bitcoin und Gold Attraktivität in den Märkten.

It is now possible to buy wine and champagne in Bitcoin (BTC)

IN BRIEF

  • The online site Vin Malin proposes 1000 references of wines and champagnes.
  • Vin Malin has chosen to work with Lunu to accept payments in cryptomoney.

The French site Vin Malin offers the purchase of wine and champagne in Bitcoin (BTC) and Ether (ETH).

Buy wine in BTC

Launched in 2007, Vin Malin proposes one of the most complete offers of the wine web from Bordeaux to Burgundy through the great foreign wines, all the greatest appellations are represented.

The company has a warehouse located in Meursault in Burgundy and offers delivery anywhere in France within 48 hours.

Jean-Christophe Gallois, director of operations at Vin Malin, said :

There will be no minimum order amount, the Bitcoin system works from a few bottles. We are really happy with this innovation, which goes in the direction of a 5-star service!

About Lunu

Payments in cryptomoney are possible thanks to the technology developed by Lunu. The German startup has created electronic payment terminals (Eftpos terminals) and a widget to facilitate in-store and online payments.

Lunu does not impose its own exchange rate for converting cryptomoney into foreign currency. The retailer receives funds in euros on his bank account and the customer pays Lunu a 1% commission for the transaction.

Bitcoin Cash Price Up 15% Desde o garfo duro

As coisas estão indo muito melhor do que estavam depois do garfo duro anterior.

  • O preço do Bitcoin Cash é atualmente de $290.
  • Isso aumentou 15% desde um garfo duro de 15 de novembro.
  • É mais ou menos o mesmo preço de dois anos atrás, quando a cadeia se dividiu em BCH e BSV.

A Bitcoin Cash foi dividida em duas partes

Faz hoje um mês, a Bitcoin Cash foi dividida em duas partes. Embora os garfos sejam suficientes para deixar qualquer investidor nervoso, até agora os retornos têm sido sólidos, especialmente em comparação com a negociação após o garfo duro Bitcoin SV.

O preço da Bitcoin Cash subiu 15% no último mês – e mais de 4% nas últimas 24 horas – para chegar a US$290.

Bitcoin Cash dividido em duas cadeias em 15 de novembro – Bitcoin Cash Node (BCHN) e Bitcoin Cash ABC (BCHA). Em virtude de ter o maior poder de hash, a BCHN assumiu desde então o título de BCH. (A BCHA negocia por cerca de 22 dólares no momento, de acordo com dados da Nomics).

Exatamente dois anos antes, em 15 de novembro de 2018, a cadeia de blocos Bitcoin Cash se dividiu em Bitcoin Cash e Bitcoin SV, como resultado de um desacordo sobre o tamanho dos blocos – e, portanto, quantas transações eles poderiam acomodar.

Embora a Bitcoin SV tenha surgido como a cadeia menor em termos de poder de hash, ela se envolveu primeiro em uma guerra de hash arriscada e vencedora com a BCH, com grupos mineradores realocando recursos de outras cadeias de bloqueio para seu lado preferido. A Bitcoin SV finalmente capitulou e concordou em coexistir ao lado da BCH.

A negociação da BCH nesse período foi muito mais instável

Como resultado, porém, a negociação da BCH nesse período foi muito mais instável. Em 5 de novembro de 2018, a BCH valia $627,70. Em seguida, caiu para $293,19 (quase seu preço atual) no dia da cisão, e um mês depois ficou em $79,90. Por sua vez, a Bitcoin SV está sendo negociada atualmente por $169.

A recente série de bons números indica que o último garfo duro pode ter sido apenas um pequeno sinal sonoro. Entretanto, ao contrário da Bitcoin, a BCH permanece longe de seu máximo histórico de 3.719 dólares, que atingiu em 19 de dezembro de 2017, apenas alguns meses depois de ter se separado da Bitcoin. Além disso, a Bitcoin está crescendo a um ritmo mais rápido; seu preço aumentou 20% no último mês.

Em outras palavras, no longo prazo, a BCH está pisando água.

Com três garfos duros nos últimos três anos e meio, os desenvolvedores, mineiros e usuários da Bitcoin Cash podem precisar praticar o compromisso para continuar nadando na direção certa.

Guru of „The Big Bet“ compares bitcoin with Tesla: „bubble

Tesla’s market value of $555.24 is equivalent to 250 times its expected profit this year. Bitcoin is called bubble since 2010.

Michael Burry – the famous investor played by Christian Bale in the movie „The Big Bet“ – compared Tesla to Bitcoin Billionaire calling them both bubbles. Asked his more than 130,000 followers what Tesla investors had in common with bitcoin investors, he suggested that the answer is a bubble.

Michael is one of the investors who predicted the 2008 real estate collapse, since then his comments have been closely followed.

The investor manages about $340 million in Scion Asset Management. He achieved fame after betting against mortgage bonds before the 2008 crisis. Burry was featured in Michael Lewis‘ book „The Big Short“ and the Oscar-winning film of the same name.

„Tesla at ~65% of the value of all other automotive companies in the world combined, and the addition to the S&P500 on December 21 puts the top in motion.

What do Tesla and Bitcoin game-option dealers have in common? „Bubble“.

Tesla is Bubble?

Tesla has become the 6th most valuable American company in the US stock market. It has surpassed the market capitalization of Warren Buffet’s Berkshire Hathaway, Inc. Tesla’s market capitalization reached $55.24 billion and lags behind Apple, Microsoft, Amazon, Alphabet and Facebook alone.

Tesla’s value alone is greater than all the other automakers put together, and the company’s continued appreciation is a cause of concern for the famous investor.

Since it was announced that Tesla would be added to the S&P 500 index, the company’s market capitalization has valued $168 billion. Tesla has not only survived the pandemic but has also prospered during it. Its market capitalization is greater than that of Toyota, Ford, VW, BMW, Fiat and GM combined.

Tesla’s market value of $555.24 is equivalent to 250 times its expected profit this year. The revolution that Tesla brings is the end of combustion engines. From a climate point of view, investors are allocating capital to this idea. Still, the forecasts seem bubbling.

Tesla’s potential for disappointment is enormous, especially since many automakers have not yet started producing electric cars.

Like all financial bubbles, this one is driven by dreams of enormous wealth. Elon Musk has surpassed Bill Gates as the second richest person in the world this week. A big Tesla test will come when they burn all the money and need to ask investors for more.

In a way, the supposed Tesla bubble has more to do with investors and our economic environment than with the company. Faith in market efficiency, a focus on being „green,“ fear of losing, and the growing power of storytelling by famous leaders have created a fertile ground on which the Tesla bubble has taken root and grown.

And according to some investors it is about to explode.

As for bitcoin, for over 11 years it has been called the bubble, not the first time that digital currency has been criticized. Before, all the critics compared bitcoin with the tulip bubble, but it doesn’t seem to have glued much.

Monero (XMR) comes under attack aimed at unmasking users

The anonymous payment network Monero (XMR) has suffered an attack in recent days. It was aimed at unmasking users and revealing details about their transactions.

Monero (XMR) victim of attack

It was one of the main developers of the project, Riccardo Spagni alias „FluffyPony“, who reported this attack on a Twitter thread published yesterday . He explains that it was a „Sybil“ attack, which aims specifically to unmask people using a P2P network . As Spagni points out, this attack could have been carried out on almost any cryptocurrency, but Monero is a prime target due to the anonymity it affords to its users. More specifically, it was about “ correlating transactions to the IP addresses of the nodes that transmit them“ .

The developer qualifies the attack as “ clumsy“ because it had no effect on the privacy mechanisms specific to Bitcoin Trend app, ie ring signatures, masked addresses, etc. The developers of Monero had however expected a possible attack, which is why protection mechanisms have been put in place, such as the use of Tor and i2p, or Dandelion:

“Without going into technical considerations, Dandelion works by randomly“ broadcasting ”transactions. This means that for a Sybil attack to [work], it must be intercepted from the first node. “

Monero Network Attack Failed (XMR)

What failed in the attack on Monero was the scale. Spagni explains that the attacker couldn’t deploy a strategy big enough to really threaten the network . Also, it could not have targeted users who manage a node behind a VPN, or who use Tor / i2p with their nodes.

User funds were therefore not put at risk. It is not yet known who carried out this attack. The „de-anonymization“ of Monero is a hot topic, however. Last September, we learned that the US tax service had offered a reward of $ 625,000 to anyone who managed to update transactions in XMR.

The analysis firm Ciphertrace had also announced that it could track Monero transactions during the same period. For the moment, the community is rather dubious on this subject, Ciphertrace having so far not shown a convincing concrete example. Still, the noose is tightening around Monero. Altcoin has become the flagship of anonymous cryptocurrencies , in the face of regulators who view the development of non-traceable payment networks with a dim view.