Strike has announced its expansion into the United Kingdom. This move allows individuals and businesses in the UK to access Strike’s suite of Bitcoin and Lightning Network services. The features include buying, selling, sending, and withdrawing bitcoin, global payments, and more. The company’s founder, Jack Mallers, believes that bitcoin can solve some of the world’s […]
Bitcoin News
Ready To Strike? Bitcoin Poised For A Big Move After Major Consolidation
Bitcoin (BTC) seems poised for a major breakout, if prominent analysts are to be believed. The world’s most popular cryptocurrency has been stuck in a consolidation phase for a record-breaking 87 days, but experts say this slumbering giant might be about to awaken with a vengeance.
Charting A Course For Breakout
Faibik, a well-known crypto analyst, has identified a technical pattern on the Bitcoin daily chart that hints at a potential explosion. This pattern, known as a Descending Broadening Wedge, suggests a price squeeze that often precedes a significant breakout. Faibik believes that a surge past the crucial ,000 resistance level would be a strong bullish signal, indicating a potential reversal of the recent downtrend.
$BTC Descending Broadening Wedge formation still in Play on the Daily timeframe Chart..
Once Bitcoin bulls clinch the 71.3k Crucial Resistance, the Party will start.
Trust the Process..
#Crypto #Bitcoin #BTC pic.twitter.com/gBas14jIDo
â Captain Faibik (@CryptoFaibik) June 9, 2024
The DBW on the BTC chart is a sign that the price is getting tighter and tighter, explained Faibik in a recent post. This typically leads to a breakout in one direction or another, and based on the current market sentiment, a bullish breakout seems more likely.
A Quick Bitcoin Price Overview
Using trend lines to connect the three lower highs and three higher lows, the price of bitcoin broke out of the symmetrical triangle pattern on June 4. Nevertheless, the weekly resistance at the ,280 level refused the breakout.
At the ,500 mark, which is the upper edge of the symmetrical triangle pattern, BTC is now finding support. Bitcoin might rise 7% to reach its all-time high of ,777 if current support holds.
Will Bitcoin Emerge A Bullish Butterfly?
Mags, another popular crypto analyst, takes a slightly different approach. He views the current consolidation phase as the longest Bitcoin has ever experienced, surpassing previous periods before significant price increases.
The analyst compares this extended consolidation to a butterfly in its chrysalis, suggesting a potential transformation on the horizon.
Historically, Bitcoin has exhibited a pattern of consolidation around all-time highs, followed by a price discovery phase that precedes sharp price movements, the analyst said. The current 87-day consolidation period shatters previous records, potentially indicating a massive price move could be in the offing.
Mags highlights prior instances where similar consolidation periods preceded major bull runs. In 2017, for example, Bitcoin consolidated for 48 days before a breakout, while in 2020, the consolidation phase lasted 21 days before a significant price increase.
The .3k Resistance Level
Both Faibik and Mags agree that a breakout from the current consolidation phase could be a game-changer for Bitcoin. They advise investors to keep a close eye on the ,300 resistance level, as a surge past this point could signal the start of a bullish trend.
Featured image from Buy Sites, chart from TradingView
Bitcoin Miners Strike Gold: $107 Million Profit From Runes-Fueled Minting Spree
Bitcoin miners have struck a proverbial goldmine, reaping an astonishing 7 million in profits, according to data from Glassnode, a leading analytics platform. This unprecedented windfall, amassed on April 20th, underscores a significant shift in the revenue dynamics of Bitcoin mining operations.
The meteoric rise in transaction fees serves as a bellwether for the evolving economic landscape of Bitcoin mining. As the network adapts to new market demands and technological advancements, transaction fees have emerged as a crucial revenue stream for miners. This trend is particularly noteworthy given the scheduled reductions in block rewards, highlighting the resilience and adaptability of Bitcoin’s economic model.
According to glassnode, affected by the Runes minting activity, on April 20, Bitcoin miner revenue reached US6.7 million, of which 75.444% came from network transaction fees, both reaching record highs. https://t.co/lVSyqn1UaE pic.twitter.com/xjkkTor2I9
â Wu Blockchain (@WuBlockchain) April 21, 2024
Runes-Fueled Minting Spree Boosts Miner Revenue
Driving this surge in profitability is a recent minting spree focused on Runes, a pivotal development that has left a tangible mark on the network’s dynamics. Reports indicate that a staggering 75% of the total profits stemmed from transaction fees, marking a new pinnacle in the distribution of revenue among BTC miners.
Runes is similar to Ordinals; they both let users permanently store data directly on the Bitcoin blockchain, like an inscription etched in stone. But there’s a key distinction in what they store: Ordinals are one-of-a-kind digital collectibles, similar to fancy trading cards.
Runes, on the other hand, are designed to act more like meme coins, those widely tradable and often humorous tokens that have been a recent craze in the crypto world.
This paradigm shift in income composition underscores the growing importance of transaction fees as a vital income source, especially as block rewards face planned reductions in the context of Bitcoin’s halving system.
This financial triumph comes amidst ongoing debates surrounding the sustainability and profitability of mining activities. With escalating energy demands and mounting regulatory scrutiny, the viability of mining operations has been called into question. However, the recent data paints a reassuring picture of the economic vitality of Bitcoin mining, demonstrating its resilience in the face of external pressures.
Implications For Bitcoin’s Future
Beyond the immediate financial gains, the surge in transaction fees holds profound implications for the future trajectory of Bitcoin. The unprecedented collection of fees signifies robust network activity and user engagement, indicating strong demand and utilization of the Bitcoin blockchain.
This bodes well for the long-term sustainability and development of Bitcoin as a prominent digital currency, bolstering confidence among stakeholders and enthusiasts alike.
Featured image from VistaCreate, chart from TradingView
Global BTC Trading App Strike Launches âFirst Fully-Featured Region Outside the USâ
The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High Inflation and Costly Remittances Render Africa a Favorable Market for Strike Strike, a payments app supporting […]
Bitcoin News
Samourai Wallet, Strike and Others Ask FinCEN to Withdraw Proposed Rules Tied to Crypto Mixing
Samourai Wallet, River, Strike, Swan, and other companies in the cryptocurrency space have sent a letter to the Financial Crimes Enforcement Network (FinCEN), commenting on the proposed rules over mixing transactions introduced in October. These companies are asking FinCEN to withdraw its proposal because it considers it inadequate for many reasons, criticizing it for being “overbroad” and including lawful activities under its scope.
Samourai Wallet Blasts FinCEN Cryptocurrency Mixing Proposed Requirements
A group of 26 companies linked to the cryptocurrency industry have sent a letter to the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury, commenting on the validity of the rules the institution has proposed to apply for cryptocurrency mixing transactions in October.
The letter, produced by Samourai Wallet and Ten31 and co-signed by River, Strike, Ronindojo, Swan Bitcoin, Primal, GRIID, Zaprite, Peach, Mempool Space, Upstream Data, Stakwork, Vida Global, Voltage, Coinkite, Mutiny Wallet, Standard Bitcoin Company, Satoshi Energy, Cathedra Bitcoin, Anchorwatch, Bitnob, Oshi, Battery Finance, Fold, and Start9 asks FinCEN to withdraw the rules proposed based on several reasons, calling them overbroad and telling these would interfere with valid security practices for blockchain networks.
The co-signers of the letter state that the application of these rules would “overly burden our use of such technologies in ways that would not assist FinCEN in achieving its mandate of preventing money laundering and other illicit use of money.”
The letter also comments that the proposed rules classify the practices considered by most industry actors to be lawful as mixing, encumbering the use of these measures for privacy-related objectives. In this regard, the co-signers state:
Employing these techniques to safeguard valuable digital assets is as routine and mundane and free of illicit purpose as using two-factor authentication to secure a digital wallet.
Furthermore, it argues that FinCEN does not need to impose more reporting duties on companies already reporting flagged or suspicious transactions, with this data being available on public blockchains for the institution. “Covered financial institutions should not have to become de facto law enforcement officers to make investigations easier for FinCEN,” it concludes.
What do you think about Samourai Wallet’s take on the proposal of rulemaking for cryptocurrency mixing transactions? Tell us in the comments section below.
Crypto Snipers Strike Gold as Traders Earn Millions in SAVM Token Launch Frenzy
Based on the recent report from Arkham Intelligence, the launch of the satoshivm (SAVM) token two days ago saw three adept crypto traders, often referred to as ‘snipers,’ each earning a profit of million. Arkham’s findings revealed that the most proficient of these sniping addresses achieved a staggering gain of over a million dollars, accomplishing this feat in under 40 minutes.
Lone Sniper Hits Million Jackpot, Trio of Traders Net Million Apiece During SAVM Crypto Launch
Crypto snipers managed to make some decent profits from the recent satoshivm (SAVM) launch, Arkham Intelligence detailed. Sniping, essentially refers to the practice of executing crypto trades with exceptional speed and precision to gain a strategic advantage. The strategy involves pre-setting parameters for immediate purchasing upon a new token’s launch and leveraging automated trading bots. According to market data from coingecko.com, SAVM came out the gate with an initial price of .83 per unit and it’s currently trading for prices between .48 to .13 over the past day.
“When SAVM launched 2 days ago, over [million] of ETH attempted to snipe the token as soon as liquidity was deployed.,” Arkham wrote on X this weekend. “It was a knife fight – with the top 3 most successful snipers all making over [million] each, in under 12 hours. The largest sniping address, 0x278, bought 2 million SAVM for [3,000], selling it over the next half an hour for a total of .7 [million].” Arkham added:
They needed to pay [0,000] just in order to get their transaction into the block – but ended up making over a million dollars in barely 40 minutes.
Arkham detailed that the second-largest participant invested 0,000, placing them second in line and allowing them to acquire 450,000 SAVM tokens. This entity, however, incurred a significant expense of nearly 0,000 to pay the block builder for transaction inclusion. The blockchain intelligence firm noted that the trader made slightly over million in total profits and the account still possesses SAVM valued at 0,000.
The last of the savvy sniping traders distributed their purchases among five different accounts, Arkham explained, each buying approximately 15 ETH. In total, this strategy involved an investment of 90 ETH to secure 191,000 SAVM tokens. Over the subsequent nine hours, these tokens were progressively sold, yielding 618.4 ETH, equivalent to .5 million. Researchers from Lookonchain further disclosed that another sniper made nearly million in profit from sniping profits.
Lookonchain’s X account told the public that in a mere span of three hours, a single trader realized a staggering .77 million profit from trading SAVM. This individual leveraged the Bananagun trading bot and employed a substantial bribe fee of 141.66 ETH to secure the advantageous position of being the first purchaser of SAVM upon its opening day. The trader acquired 2.61 million SAVM, incurring a total expense of 277.66 ETH, which equates to approximately 1,000.
There’s a great deal of discussions associated with this type of trading. The debate around crypto sniping mainly stems from the employment of sniper bots in crypto trading. The utilization of these bots is contentious, sparking worries about the integrity of the market and potential manipulative practices. Sniper bots may confer unfair market benefits, potentially leading to price distortions and placing individual traders at a disadvantage, unable to match the bots’ rapidity and effectiveness.
While its a nuanced topic, supporters of sniping argue that it’s a groundbreaking approach, encompassing risks unfamiliar to many traditional traders. Bot trades might not succeed, transactions can fail, and market responses can be entirely unpredictable. It takes boldness, tactical skill, and sometimes hundreds of thousands for those who employ sophisticated tools, such as sniper bots, to secure an advantage in the intensely competitive crypto trading arena.
What do you think about the practice of crypto sniping? Let us know what you think about this subject in the comments section below.
Biden, Republicans Strike Tentative Deal to Raise US Debt Ceiling
The White House and House Republicans have reached an agreement in principle to raise the U.S. debt ceiling. Described by President Joe Biden as “good news for the American people,” the deal would open the door to avoiding a historic default by the government in Washington and averting not just a potential economic catastrophe in the United States but a global recession as well.
Joe Biden, Kevin McCarthy Announce In-Principle Agreement to Raise Debt Ceiling
After weeks of negotiations, which put an end to a months-long stalemate, the White House and the Republican leadership of the House of Representatives now have “an agreement in principle” on a deal to raise the debt ceiling in the U.S. for two years and limit budget spending.
The agreement has been reached by President Joe Biden and House Speaker Kevin McCarthy during a phone call on Saturday. Both sides are now facing the difficult task to convince the Republican-controlled House and Democrat-dominated Senate to back the deal in Congress before June 5.
On that date, the U.S. government could find itself unable to pay its bills, according to Treasury Secretary Janet Yellen, who just updated her projection on Friday. Yellen had previously estimated that the United States could default on its debt obligations as early as June 1.
“We have come to an agreement in principle. We still have a lot of work to do but I believe this is an agreement in principle that is worthy of the American people,” McCarthy told reporters, quoted by CNN. In a tweet, he accused the U.S. head of state that “he wasted time and refused to negotiate for months.”
President Biden confirmed the deal on Twitter, too. He remarked that the agreement is a compromise that would not make everyone happy but emphasized it “is good news for the American people, because it prevents what could have been a catastrophic default and would have led to an economic recession.”
Earlier this evening, Speaker McCarthy and I reached a budget agreement in principle.
It is an important step forward that reduces spending while protecting critical programs for working people and growing the economy for everyone. And, the agreement protects my and…
— President Biden (@POTUS) May 28, 2023
Deal to Cap Spending, Postpone Further Ceiling Revisions Until After 2024 Election
Joe Biden urged both chambers of Congress to “pass the agreement right away.” Negotiating teams are expected to present the finalized text of the legislation on Sunday and McCarthy said that he will likely speak with the President again in the afternoon.
If approved by lawmakers, with the House vote expected on Wednesday, the agreement would increase the limit for the U.S. government’s .4 trillion debt through January 2025, postponing future clashes over the ceiling between the Democrats and the Republicans beyond the 2024 presidential election.
It would also cap spending in the 2024 and 2025 budgets, Reuters reported. And according to a source familiar with the negotiations quoted by CNN, non-defense spending will be capped to the current levels for next year and increased by 1% in the following fiscal year.
In case Biden signs it into law before the approximate default date, Washington would avoid a potentially unprecedented crisis with unpredictable consequences for the world economy as the U.S. government has never before defaulted on its obligations.
The threat of a recession has sparked reactions across the globe. While the credit rating agency Moody’s labeled the potential U.S. default a “near-term danger to the dollar’s position,” China’s Chengxin International Credit Rating agency downgraded the United States’ credit rating this week.
Crypto markets reacted positively to the news of the deal reached in the U.S. capital, with the price of bitcoin (BTC) rising by around 2% in 24 hours to over ,000 at the time of writing and that of ether (ETH), the second-largest crypto by market cap, increasing by nearly 1% to almost ,850 per coin.
Do you expect the Congress to support the agreement to raise the U.S. debt ceiling on time? Tell us in the comments section below.
Strike Brings The Lightning Network To Every US Merchant. The Market Yawns
The Strike announcement was an atomic bomb, but the market is not impressed. Since Jack Mallers wasnât there to reveal an Apple deal as rumored, the general public was somewhat disappointed. However, the Strike CEO announced something much bigger. The company partnered with Blackhawk and NCR to bring Lightning Network transactions to Point Of Sale terminals all over the United States. Plus, with Shopify for the e-commerce equivalent.Â
The man was playing third-dimensional chess with us. Mallers titled the presentation âThe Kingâs Gambit,â an alternative to the âpawn to e4â chess opening he usually mentions. Hereâs the video:
Inside Strike âs Announcement
The presentation started with a brief history of payment networks, starting in 1949 with the invention of the Dinerâs Club card. The first revelation comes next: payment networks have not evolved or innovated in 50 years. The legacy financial system is still using this ancient technology like thereâs no tomorrow.Â
These merchants are adopting Bitcoin for payment this year. (Jack Ballers – Strike). pic.twitter.com/FF57vYF7BH
— Big Sky HODL CO Beef Initiative (@BigSky_HODL) April 7, 2022
As usual, Strikeâs Jack Mallers proposes to the world that it should join an âopen payment standard.â That it should use a âsuperior payment network.â And with these partnerships, he finally accomplishes it. Strike will use the bitcoin network as payment rails to enable Lightning Network transactions in a high percentage of merchants in the US. According to Mallers, bitcoin will finally be âembedded into our lives.â
Another interesting part of the story is Senator Cynthia Lummisâ support. According to a letter she sent to Mallers, she says âI am working to bring smart legislation to the digital assets space, so that innovations like this can be integrated into Americaâs financial services industry.â Thatâs reassuring. Because chances are legacy players will fight this.Â
thank you @jackmallers. you're an incredible inspiration.
— jack (@jack) April 7, 2022
The senator will speak tomorrow, on Bitcoin 2022âs final day of conference.Â
BTC price chart for 04/08/2022 on Oanda | Source: BTC/USD on TradingView.com
How Did The News Affect The Market?
The general public was expecting Strike to announce an Apple partnership that wouldâve made bitcoinâs price pump to infinity. It didnât get it. So, bitcoin traded around the K range the whole day and acted unaffected in front of Jack Mallersâ news. It seems like the market didnât even flinch.Â
What @jackmallers just announced is going to kick off the #Bitcoin circular economy in a massive way.
I think few understand that the inability to easily use BTC is what makes it difficult to accept as a daily driver.
Medium of exchange is here. Next stop, Unit of Account.
— Guy Swann (@TheGuySwann) April 7, 2022
More nuanced than an Apple partnership, it will take months, maybe years to see the newâs impact. On the one hand, people arenât incentivized to spend their bitcoin. As long as its price is increasing, people will want to hold the asset. On the other, this provides a non-KYC way to spend your bitcoin. A non-KYC way of paying. The Strike announcement makes bitcoin a competing Medium of Exchange and puts it into every store in the US.
Is that fact priced in?Â
What Does The Twitterati Think About Strike âs News?Â
The Guy Swann sums up the announcement by declaring itâll âkick off the Bitcoin circular economy in a massive way. I think few understand that the inability to easily use BTC is what makes it difficult to accept as a daily driver.â For his part, podcaster Anthony Pompliano said, âHundreds of millions of people can now spend bitcoin or dollars across the Lightning Network instantaneously, completely for free at every major US retailer.â
Strike CEO @jackmallers and Strike just announced partnerships with Shopify and other leading payment providers.
Hundreds of millions of people can now spend bitcoin or dollars across the Lightning Network instantaneously, completely for free at every major US retailer.
— Pomp (@APompliano) April 7, 2022
In a phenomenal thread, Economist Lyn Alden explains the implications. âThe more places that accepted BTC at point of sale (on-chain or Lightning or otherwise), the more permissionless the whole network is. This is because, if all you can do with BTC is convert it back into fiat on a major exchange, then it’s easy to isolate it, effectively blacklist addresses, etc.â
This is because, if all you can do with BTC is convert it back into fiat on a major exchange, then it's easy to isolate it, effectively blacklist addresses, etc.
But if you can directly spend it on goods and services across companies and jurisdictions, it's harder to isolate.
— Lyn Alden (@LynAldenContact) April 7, 2022
On the other hand, notorious YouTuber Bitboy Crypto misses the point completely and says. âMichael Saylor: Never Sell your Bitcoin (crowd goes WILD) Jack Mallers: Hereâs a great way to spend your Bitcoin (Crowd goes WILD) Like does no one see the disconnect here?âÂ
Michael Saylor: Never Sell your Bitcoin (crowd goes WILD)
Jack Mallers: Hereâs a great way to spend your Bitcoin (Crowd goes WILD)
Like does no one see the disconnect here?
— Ben Armstrong (@Bitboy_Crypto) April 7, 2022
Matt Ahlborg, head of research at Bitrefil, gives Bitboy the 411. âWhat Jack Mallers is really saying is that you will be soon be able to offload your Bitcoins in the real world without KYC’ing through an exchange first.â While Jack Dorsey keeps it short and sweet by saying, âthank you Jack Mallers. you’re an incredible inspiration.â
What Jack Mallers is really saying is that you will be soon be able to offload your Bitcoins in the real world without KYC'ing through an exchange first.
If this is true, it is actually an extremely substantive and important development for Bitcoin.
— Matt Ahlborg (@MattAhlborg) April 7, 2022
The whole world changed after that Strike announcement. It might feel similar, but weâre living in bitcoin world now. Make of that what you will.Â
Featured Image: Jack Mallers at Bitcoin 2022 taken from this tweet | Charts by TradingView
Bitcoinist @ Bitcoin 2022 Miami
Bitcoinist will be at Bitcoin 2022 Miami in Miami Beach, FL from April 6th through 10th reporting live from the show floor and related events. Check out exclusive coverage from the world’s largest BTC conference here.
Will Strike Announce A Partnership With Apple At Bitcoin 2022? Hereâs The 411
Is Apple ripe for bitcoin adoption? Somethingâs up with Strikeâs CEO. Through Twitter, Jack Mallers seems to be dropping clue after clue. And the Bitcoin 2022 conference is next week in Miami. Last year, in the same event, Mallers himself announced that El Salvador would make bitcoin legal tender. Definitely one of the biggest news items of 2021. What will he and other guests of honor announce this time?Â
Related Reading | Comparing Appleâs Growth With Bitcoin, Why This Expert Sets 0K As Long-Term Goal
Could bitcoin-only Strike be about to announce an Apple partnership? How would such gigantic news affect the market? Letâs analyze Mallersâ cryptic tweets and see what we come up with.
The Curious Case Of Jack Mallersâ Apple Tweets
It all started with what appears to be a teaser for Mallersâ still-untitled âAnnouncement Keynoteâ at Bitcoin 2022. âWith Bitcoin as the monetary network, the financial system will be cheaper, faster, more innovative, and more inclusive,â the Strike CEO wrote.Â
With #Bitcoin as the monetary network, the financial system will be cheaper, faster, more innovative, and more inclusive.
Two weeks #Bitcoin pic.twitter.com/9u9SkIVSdN
— Jack Mallers (@jackmallers) March 24, 2022
Ok, but what does it have to do with Apple? You saw it and you missed it. In the photo, Jack Mallersâ hat features an old-school Apple logo while heâs flipping the bird to a Chase ATM.
History rhymesâŠ#Bitcoin
pic.twitter.com/gEQzZvh6OV
— Bitcoin Archive (@BTC_Archive) March 30, 2022
Thatâs not all, is he referencing the photo of Steve Jobs flipping the bird to an IBM building? That might seem like a stretch, but thatâs only because we havenât shown you the other set of Apple-related tweets. First, the Strike CEO posted the classic Think Different, âhereâs to the crazy onesâ Apple ad.
pic.twitter.com/pG8w209uWV
— Jack Mallers (@jackmallers) March 28, 2022
The comments exploded, the adâs relationship to the hatâs logo wasnât lost on people. Everybody knows that the Bitcoin 2022 conference starts in a week or so and companies have been holding their announcements. Is there something going on with Strike and Apple?
pic.twitter.com/Y4oi5PbK1a
— Jack Mallers (@jackmallers) March 30, 2022
Then, Mallers threw us a curveball. He posted the also classic âGot Milkâ ad. Maybe Mallers has just been watching old-school advertisement.
pic.twitter.com/QTuMB9Nlth
— Jack Mallers (@jackmallers) March 30, 2022
But wait, then he tweeted a classic Steve Jobs speech in which the former Apple CEO references the âGot Milkâ ads saying:
âThe dairy industry tried for twenty years to convince you that milk was good for you. It’s a lie but they tried anyway. And the sales were going like this [signalizing downward]. And then they tried âGot Milkâ and the sales are going like this [signalizing upwards]. Got Milk doesnât even talk about the product â as a matter of fact, the focus is on the absence of the product.âÂ
And thatâs where we are with Jack Mallerâs Apple tweets.
Is Bloomberg Suggesting Something?
Does Bloomberg know something we donât? First, they published an article titled âApple Is Cryptoâs Biggest Wild Cardâ in which they quote âRic Burton, an early contributor to the Ethereum projectâ speculating:
âAs crypto assets make up a larger portion of peopleâs net worth, theyâll prioritize security and privacy,â Burton says. âCook has pushed those features from the beginning. Compared to other Big Tech players (Google, Meta), I trust Apple to do the right thing for people if it goes the crypto route.â
Yesterday, they published another article, this one titled âApple Working to Bring More Financial Services In-House.â âThe project has been dubbed âBreakoutâ internally, underscoring the idea of breaking away from the existing financial system,â the article says. It describes project breakout as:Â Â
âA multiyear plan would bring a wide range of financial tasks in-house, said the people, who asked not to be identified because the plans arenât public. That includes payment processing, risk assessment for lending, fraud analysis, credit checks and additional customer-service functions such as the handling of disputes.â
Does this point directly at Strike and Bitcoin integration? No, it doesnât. However, it shows the direction that Apple is pointing to as a company. Their ApplePay product is successful and the company is looking into financial services as a whole.
BTC price chart for 03/31/2022 on Exmo | Source: BTC/USD on TradingView.com
Other Apple-Related Strike Tweets
The Twitterati has been cautious about the possibility of an Apple and Strike partnership. The evidence is circumstantial at best and thereâs no point celebrating just yet. However, interesting information and theories are already circulating. These are some of the best ones:
Related Reading | Strike Launches New Feature To Allow Users Convert Salaries To Bitcoin
- According to Dennis Porter, Senator Cynthia Lummis mentioned a big Strike announcement for next month.Â
BREAKING: Senator Lummis says, â@jackmallers and @Strike will make an announcement next month.â On their work with the Lightning network.
— Dennis Porter (@Dennis_Porter_) March 24, 2022
- Bitcoin Magazine contributor Level39 believes that Strike will just announce theyâre integrating âApple’s upcoming Tap to Pay feature and make Bitcoin more usable and accessible for humanity.â
While it would be exciting if @Strike partners with Apple. Strike will likely integrate Apple's upcoming Tap to Pay feature and make #Bitcoin more usable and accessible for humanity.https://t.co/yixQakspxn
— Level39 (@level39) March 31, 2022
- Bitcoin Archive found some bitcoin icons for the Apple OS, but, as it turns out, theyâre at least three years old. Still, the icons exist.
Appleâs new #Bitcoin logos for their OS. Itâs probably nothingâŠ
c:@hugodouchet pic.twitter.com/eK5OIHBc8y
— Bitcoin Archive (@BTC_Archive) March 30, 2022
- Investor James Lavish asks, âSo, when Apple announces that it has integrated Bitcoin into ApplePay, are you still going to insist it is going to zero?âÂ
So, when Apple announces that it has integrated #Bitcoin into ApplePay, are you still going to insist it is going to zero?
— James Lavish (@jameslavish) March 31, 2022
And thatâs where we are with Twitter-based information and theories regarding Apple and Strike.
Featured Image: The Apple hat from this tweet| Charts by TradingView
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âBitcoin Rushâ: Small-Time Solo Miners Strike Gold With Full BTC Blocks
Small-time bitcoin miners are making headlines for essentially hitting the jackpot by mining full blocks all on their own. In what has become a modern-day âgold rushâ, bitcoin enthusiasts are now taking to booting up small USB miners will tiny hash rates to try their luck in what is eerily similar to buying lottery tickets. Among the miners who have rushed to this, a few have hit the ultimate prize.
Solo Bitcoin Miner Gets Full Block
In an unlikely event, a solo miner was able to mine a full bitcoin block with a low hash rate. This was made public by Dr. Kolivas, a software engineer that contributed to the development of the Cgminer. He revealed that the solo bitcoin miner had been able to solve a full block by themselves using only 86TH. This took place at a block height of 270,175.
Congratulations to another miner with approximately 86TH solving a solo block on https://t.co/UWgBvLkDqc ! There are a lot more miners now on the solo pool and if enough people are mining solo, someone will eventually be the lucky one as here. https://t.co/Hqte2achR4 pic.twitter.com/0ZT635LicD
— Dr. Con Kolivas (@ckpooldev) January 24, 2022
Related Reading |Â Bitcoin Leverage: Lack Of Liquidations Could Indicate Another Wave Of SellingÂ
The miner who is part of a mining pool that allows solo miners pool their hash rates together to increasing their chances of solving a block was able to get the full block reward after solving. The miner had gotten the full block reward of 6.25 BTC, netting them a total of more than 0,000 at current prices, in addition to the transaction fee paid to the block miner.
With such low computational power as the one possessed by this miner, it makes it near impossible for them to be able to mine a block by themselves. They would not be the first to get lucky.
Two weeks ago, another solo miner from the same mining pool had hit the same jackpot, mining a block and earning the full block reward plus transaction fees.
The BTC Rush
One thing about proof of work mechanisms is the high computation power required to mine bitcoin blocks. As more players enter into the mining space, armed with millions of dollars in institutional backing, being a small-time miner is nearly unprofitable. This is why mining pools like the ckpool exist.
BTC recovers above ,000 | Source: BTCUSD on TradingView.com
In these pools, solo miners are able to bring their low computational power together to increase their chances of finding a block. Dr. Kolivas explained that while this miner had fluctuated in their mining power, they were able to solve the block with only 8.3 terahashes.
Related Reading |Â Anthony Scaramucci Urges Bitcoin Holders To Think Long-Term As Downtrend Wonât Last
Laying out the math, he explained that by pooling their hashes, miners were able to increase their chances of solving a block to a 1 in 5 chance or a 20% chance. As more miners join the pool, the chances to go solve a block go up. In a reply to another user, Dr. Kolivas explains that if the current hashrate were to increase by 4, then the chances of mining a block jump to 63%.
Featured image from Pinterest, chart from TradingView.com
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