Bitcoin’s Lightning Network Is Shriveling Due to Terrible Incentives

By CCN Markets: Usage of Bitcoin’s Lightning Network underwent a sizeable decline in 2019. According to data from BitcoinVisuals, 23% of Lightning Network payment channels closed down in the past five months alone. Meanwhile, the amount of Bitcoin locked up on the network for use in making payments fell 22% in the same time period. […]

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Craig Wright Scolds Bitcoin Privacy Geeks in Wake of Equifax Scandal

On Bitcoin Cash’s second birthday Thursday, Craig Wright penned a brief article entitled “PII in the Bitcoin World.” The subject of personally identifiable information (PII) is massive right now due to the Equifax data breach scandal. I think the C-suite of Equifax should be required to take their entire compensation for the next 10 years […]

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Cypherpunks Taiwan Successfully Erects Another Bitcoin Satellite Receiver

According to a report out of Blocktempo, Cypherpunks Taiwan has successfully erected another Bitcoin satellite receiver. The island nation is apparently only the second country in Asia to do so after Japan pipped it to the post last year. This setup takes advantage of the controversial Blockstream satellite project that CCN previously reported on. Even […]

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Bulls**t Gold Asteroid is #FakeNews Created to Pump Bitcoin, Rips Skeptic

Goldbug and bitcoin skeptic Peter Schiff has cast doubt on reports that the massive 16 Psyche asteroid contains abundant amounts of gold. According to the CEO of investment advisory firm Euro Pacific Capital, the report is ‘just nonsense’ being propagated by the Bitcoin community in order to make the cryptocurrency more popular. WTF – you’re […]

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Six Years Later, the Number of Bitcoin ATMs Just Crossed 5,000 Globally

Nearly six years after the first Bitcoin ATM was installed in Vancouver, Canada the number of the cryptocurrency-dispensing machines across the world has risen to 5,006, according to Coin ATM Radar. In the last 60 days, an average of just under 6 Bitcoin ATMs were installed per day. Has the US bitcoin ATM market reached saturation point? Unsurprisingly, the U.S. leads in the number of crypto vending machines with over 3200 Bitcoin ATM locations. This is around 64 percent of the world’s total. Canada, which hosted the world’s first ever cryptocurrency dispensing machine, was second with over 680 locations. In

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CCN is Shutting Down after Google’s June 2019 Core Update

Dear readers, Let’s get straight to it. Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight.   As data from SEO analyzer Sistrix shows, our visibility on Google dropped from 1.2 to less than 0.6. You might say we ought not to face any issues since we’ve been at those levels and lower, in the past. What you need to realize is that we have added more people to the team, both full-timers and part-timers. We do not want to downsize the team, we do

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Billionaire Investor Blows Cold on Donald Trump 2020 Win and Bitcoin

By CCN: Nothing will get billionaire investor Stan Druckenmiller interested in bitcoin. Specifically, Druckenmiller is not sold on the cryptocurrency being a store of value, according to Bloomberg. In his view, however, this stance on Bitcoin does not make him a technophobe: I don’t think I’m a neanderthal, which is what I’ve been called when I’ve said I didn’t want to own Bitcoin. Interestingly, at a time when speculation was rife that last month’s Bitcoin rally was to some extent being caused by the U.S.-China trade war, Druckenmiller was then piling into U.S. treasuries. After U.S. president Donald Trump declared

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Apple Publishes Bitcoin Icons & ‘CryptoKit’; iPhone Crypto Wallet Coming?

By CCN: Apple’s Worldwide Developer Conference (WWDC) is underway, and while most of the focus is on iOS3, Apple quietly revealed a new upgrade for developers called CryptoKit. Apple also released its new icon set for designers which feature four bitcoin logos. It begs the question, what are Apple’s plans for cryptocurrency integration? Apple CryptoKit: a path to a hardware wallet? CryptoKit provides developers with a new toolkit for cryptographic functionality. It means app developers can integrate operations like hashing, key generation, and encryption. In particular, CryptoKit will facilitate the use of public and private key management. “Use public-key cryptography to

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Bitcoin Is Weirdly Similar to an Oil Tanker – Expert Explains Why

By CCN: Adamant Capital’s Tuur Demeester, an outspoken crypto analyst and proponent of Bitcoin, said on Twitter that using the flagship cryptocurrency’s blockchain will eventually be as expensive – and rare – as chartering an oil tanker. Even the simple act of opening a Lightning Network channel will be cost-prohibitive and potentially slow once the network user base climbs into the billions. Bitcoin’s Blockchain Is Like an Oil Tanker – You Won’t Use Either of Them At full maturity, using the Bitcoin blockchain will be as rare and specialized as chartering an oil tanker. https://t.co/lu1ORzrTjF — Tuur Demeester (@TuurDemeester) May

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Bitcoin Developers Propose Stronger, Faster Blockchain Network Via ‘Erlay’

By CCN: Bitcoin core dev Gregory Maxwell left Blockstream last January to focus on “deep protocol work,” and now he and a few other developers have surfaced with something called “Erlay.” So That’s What Greg Maxwell Has Been up To Erlay was announced over the last 24 hours in a post to the Bitcoin Core development mailing list by University of British Columbia’s Gleb Naumenko. Naumenko described it in the following terms: “The main idea is that instead of announcing every transaction to every peer, announcements are only sent directly over a small number of connections (only 8 outgoing ones).

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