Author: Coindesk
Unlike traditional, or fiat, currencies, whose value has historically been eroded by inflation and government printing, bitcoin is designed to be non-inflationary with a maximum total supply of 21 million BTC in circulation. With the halvings every four years, the pace of new issuance of bitcoins reduces over time until the last one is mined, likely sometime in 2140. Read the full article here
But this time, bitcoin has already embarked on a momentous rally to record highs, rising from $15,500 in late 2022 to $73,680, helped by optimism around the approval of spot bitcoin ETFs in the U.S. and then then the ensuing enthusiasm after they began trading in January. Read the full article here
The first four awards, including Finney’s, are meant specifically to retroactively reward those who made the biggest contributions to Bitcoin within the periods between each of the first four halvings: 2009-2012 (Finney), 2012-2016, 2016-2020 and 2020-2024. After that, the prize will go to those who contribute most in the intervening four years. Read the full article here
Ultimately, the initial buzz about NFTs and blockchain’s expansion turned to fear during the 2022 crypto winter, although this wouldn’t be the end for NFTs. 2023 witnessed a revival in the blockchain enthusiasm, thanks in part to NFTs making a strong comeback, this time taking the form of Ordinals on Bitcoin. Similar to how DeFi Summer revealed new blockchain capabilities, Ordinals and BRC20 tokens showcased Bitcoin’s potential, sparking excitement about the future possibilities of blockchain technology. Read the full article here
“Brokers must report proceeds from (and in some cases, basis for) digital asset dispositions to you and the IRS on Form 1099-DA,” according to the instructions included with the form, which shows a 2025 date. “You may be required to recognize gain from these dispositions of digital assets.” Read the full article here
“While sellers on the margin appear to be derisking, there has also been opportunistic buying between $60,000-62,000 levels,” Coinbase Institutional research analyst David Han said in a Friday report. “We think this directional uncertainty speaks to our thesis of bitcoin’s divergent roles both as a risk and a safe haven asset,” he added. Read the full article here
Interest in the term has steadily ramped up since the start of 2024, alongside search interest in the phrase “Bitcoin” (which is still below its 2017 peak in terms of search interest). The surge in interest this month is notable considering bitcoin’s (BTC) recent rally has stalled out, including turbulence this week, which saw it drop from a high around $70,000 last Friday to $63,000 today. Read the full article here
Having said that, I’ve been humbled by my own business trip-ups trying to make a work-around to Bitcoin’s inbuilt limitations. After years of experimenting on Bitcoin and having to rewrite my core software due to an avalanche of tech debt trying to cross-compile with the whole Bitcoin C++ project, and many years of boom and bust, I’m finally shipping. And I’m shipping on Litecoin first. Because, hey, Litecoiners are nice people. They, like me, have been humbled by pain. Read the full article here
While Telegram’s crypto wallet supports various blockchains for deposits and withdrawals, “to encourage the adoption of TON, trading fees are substantially reduced,” Halil Mirakhmed, chief operating officer of Wallet in Telegram, told CoinDesk. “Within the Ton Space ecosystem only USDT on TON is available, streamlining the user experience for those invested in the TON ecosystem,” he added. Read the full article here
While crypto has been largely been viewed as a “risk on” asset class, Coinbase says “bitcoin’s continued resilience and the approval of spot exchange-traded funds (ETFs) has created a bifurcated pool of investors (for bitcoin in particular) – one which sees bitcoin as a purely speculative asset, and another that treats bitcoin as a ‘digital gold’ and hedge against geopolitical risk.” Read the full article here