John Lennon’s Son Says Bitcoin Empowers People, Gives Him Optimism in Ocean of Destruction

Sean Ono Lennon, the son of the Beatles’ John Lennon, says bitcoin gives him optimism amid the “ocean of destruction” this year. He believes that the cryptocurrency empowers individuals the way they have never been empowered before. Bitcoin Gives Sean Lennon Optimism Sean Ono Lennon is the son of the Beatles’ lead vocalist, John Lennon, and Japanese singer Yoko Ono. Sean talked about bitcoin with Max Keiser and Stacy Herbert on the Orange Pill podcast published Sunday. After discussing several aspects of bitcoin and many events that happened this year,…

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Hackers Paradise: Yet Another Defi Protocol Exploited for Nearly $20 Million in DAI

Decentralized finance (defi) protocol Pickle Finance was hacked for $19.7 million of the stablecoin DAI over the weekend, as the defi industry appears to be turning into a hackers paradise. Pickle’s native token (PICKLE) plunged 62% on the news, falling from $23.27 to $8.70 when the hack was first reported on Nov. 21. At the time of writing, the token has since rebound 29% in 24 hours to $18.51, according to Coingecko data. This is the fourth hack to hit the defi space in just two weeks. Akropolis, Value Defi…

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Ethereum 2.0 Deposit Threshold Met: Proof-of-Stake ‘Beacon’ Chain Starts in 7 Days

The Ethereum network’s ETH 2.0 contract has crossed the threshold needed to initiate the upcoming upgrade. Currently, there’s more 694,368 ether worth over $422 million resting in the contract, as developers hope the proof-of-stake launch will begin on December 1. At the end of the first week of November, the Ethereum Foundation initiated the first process of the highly anticipated Ethereum 2.0 (ETH 2.0) upgrade specifications, which detailed the initial rules of the genesis phase 0. The genesis phase 0 contract specification noted that there needed to be approximately 524,288…

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Video: Coordinating Bitcoin Upgrades With Poolin’s Alejandro De La Torre

Listen To This Episode: Apple Spotify Google Libsyn The guest for this episode of Bitcoin In Asia is Alejandro De La Torre, vice president at Poolin. De La Torre and Poolin have launched taprootactivation.com to improve on the communication and transparency of the Taproot activation process. Bitcoin Magazine’s Aaron van Wirdum covered the initiative here, and in this Interview, De La Torre and host John Riggins explored additional context around it.  De La Torre has been in the Bitcoin data and mining space since 2014 when he founded SendChat, later…

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Video: Securing Bitcoin With Zach Herbert Of Foundation Devices

Listen To This Episode: Apple Spotify Google Libsyn Overcast On this episode of the Bitcoin Magazine Podcast, host Christian Keroles and Zach Herbert, the CEO and co-founder of Foundation Devices, sit down to discuss the company’s launch and its first product, the Passport hardware wallet. During the conversation, Keroles and Herbert dive into the design editions for the Passport as well as Herbert’s ideas about multisig, hardware wallets in general, Bitcoin mass adoption, user safety and more. Topics discussed in this episode include: Foundation devices’ outlook The timeline for Passport…

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XRP Price Climbed 123% in 30 Days, Spark Token Airdrop Pushes Value Higher

During the course of the week digital currency markets have seen colossal gains and one crypto asset, in particular, XRP, has jumped significantly in value over the last seven days. The distributed ledger token XRP climbed 25% upwards on Tuesday alone, and seven-day price stats show the coin has gained 123% as well. At the time of publication, XRP is currently swapping for $0.677 per coin as it gained more than 25% during the early morning (ET) trading sessions on Tuesday. The coin holds the third-largest market valuation today with…

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The Virtuous Cycle of Bitcoin Giving

Higher Prices Mean More Giving. More Giving Means More Adoption Bitcoin has left every other asset class in the dust. And that outperformance didn’t just take place this year — it’s outperformed every asset over the last five-year and 10-year periods. As we approach a new all time high, 99 percent of bitcoin owners are in profit. Given how rapidly bitcoin has appreciated, it shouldn’t be surprising to hear that price rallies lead to significant bitcoin donations.  The last time Bitcoin hit $20,000, we saw over $100 million worth of…

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HASHR8 Assesses The World Of Bitcoin Mining With Launch Of Index Reports

Bitcoin mining-focused media company HASHR8 has launched the first report in its “Bitcoin Mining Index,” a planned series on the world’s prominent mining regions that offers detail on how the practice is taking shape and where opportunity lies around the globe. “Bitcoin mining is truly a global game,” Whit Gibbs, CEO of HASHR8, told Bitcoin Magazine. “Each country has its own unique pros and cons for mining. We are focused on country-level distinction because much of this information is opaque, including regulations, business practices, climate and of course, electricity prices.”…

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Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank money. The Eurosystem will always be able to generate additional liquidity as needed. Bankruptcy Rules Not Applicable to ECB The ECB leader made her remarks while responding to a question from an Italian member of…

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John Newbery’s New Nonprofit Brink Will Train And Support Bitcoin Developers

How do we fund Bitcoin developers, and how do we ensure there are enough of them in the first place?  Former Chaincode Labs developer John Newbery and Blockstream alumnus Mike Schmidt are launching a nonprofit to help answer both of these questions. The new organization is called Brink (a nod to the newspaper headline embedded in Bitcoin’s genesis block), a new London-based, independent nonprofit to support open-source development for Bitcoin and related technologies. Through Brink, Newbery and Schmidt — who also collaborate on the Bitcoin Optech project — will issue…

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