Bitcoin may be under a possible 51% attack, which can provide attackers with the power to reverse transactions and control block production.
Understanding the basics of Nakamoto Consensus helps in comprehending the vulnerability to 51% attacks in Bitcoin and the importance of hashpower in the network.
A 51% attacker can aim to gain 100% control over block rewards by manipulating block production and slowly squeezing out other miners, posing a threat to the open nature of the network.
Eric Budish's paper highlights a potential contradiction at the core of 'proof of work' schemes supporting cryptocurrencies like Bitcoin.
The economic viability of Bitcoin in the long term is based on short-term enforcement mechanisms, which could pose challenges as Bitcoin becomes more economically significant.
The use of specialized ASIC chips for mining may increase Bitcoin's robustness against attacks, but it challenges the democratic philosophy initially associated with Bitcoin.
Bitcoin mining consumes a significant amount of energy due to the proof of work mechanism, leading to high resource costs.
The cost of running the Bitcoin network has drastically increased over time, surpassing the GDP of many countries, with no clear end in sight until around 2032 when the cap of 21 million Bitcoins is reached.
Alternative cryptocurrencies with less energy-intensive mechanisms may eventually replace Bitcoin through competition, but for now, the excessive energy consumption continues.
Money is a platform where value transmission depends on belief and agreements among people. Stability and acceptance are crucial for efficient transactions.
Bitcoin's stability as a payments platform is weak, but it offers potential benefits for wealth storage and operating outside government surveillance.
Bitcoin's innovation as a payments platform, especially its programmable nature, is significant and revolutionary in the world of monetary economics.
Bitcoin's mining difficulty has increased significantly over the past four years, making mining 5.36 times harder with an average hashrate increase from 115 EH/s to 640 EH/s.
The daily block subsidies in Bitcoin will halve from 900 BTC to 450 BTC after the upcoming halving, potentially leading to a rise in transaction fees as a percentage of block rewards.
The reshuffle of Bitcoin mining pools over the years reflects a shift from China-based pools to North American ones, indicating a consolidation and institutionalization of mining activities.
Bitcoin mining stocks saw a sharp decline of about 50% in Q3, outperforming bitcoin and Nasdaq.
Volatility in mining stocks coincided with equity financing by public mining companies to fuel growth.
Potential in mining stocks lies in choosing operations with low costs, high efficiency, a strong balance sheet, and a track record of delivering on promises.
Bitcoin miners are engaging in an efficiency race, upgrading equipment and optimizing operations in preparation for the upcoming halving in 2024.
Companies like Riot and CleanSpark are making significant investments in mining equipment to improve efficiency and stay competitive in the market.
The decrease in Bitcoin's hashprice since 2022 has created uncertainties around the next halving, putting pressure on miners to enhance efficiency and lower costs.
Bitcoin miners may face challenges with profitability if the price of BTC drops below $14,000.
The concept of Hashcost is introduced, showing the raw cost a mining fleet would incur in 24 hours to produce 1 PH/s of hashrate at different energy rates.
Public mining companies could be operating at close to zero or negative gross margins as bitcoin trades around their break-even levels.
Many mining companies sold a large amount of BTC in June but still hold significant amounts on their balance sheets.
Bitcoin's mining difficulty has decreased slightly recently, allowing existing miners to potentially earn a larger share in the upcoming weeks.
Important developments in the mining industry include companies like Core Scientific selling a substantial amount of Bitcoin, while some like Hut8 continue to hodl all mined BTC.
Bitcoin has crossed $33K, just 17 days after passing $20K, indicating a rapid increase in value.
Despite altcoins like XRP struggling, Ethereum is predicted to be accepted as digital silver by institutions, with the launch of ETH futures on CME in February.
The rise of DeFi as an alternative to ICO scams allows for borrowing and lending through smart contracts, offering opportunities for yield farming and liquidity mining.
The deadline for submitting papers to TetCon 2016 is approaching, and the committee is providing feedback to the submissions.
There are 13 submissions so far, with a mix of Vietnamese and foreign participants, but more sign-ups are needed to avoid cancelling the training program.
Attendees have the chance to learn about Bitcoin, Windows kernel reversing, and crypto at a competitive price compared to other conferences.
MicroStrategy has a unique investment strategy focused on Bitcoin, holding a huge amount of it, which makes them the largest corporate holder of Bitcoin worldwide.
They finance their Bitcoin purchases by using convertible bonds, allowing them to borrow money at low costs to buy more Bitcoin.
While their approach has been successful, it carries risks due to Bitcoin's price volatility and the high valuation of MicroStrategy's stock compared to its Bitcoin assets.
Bitcoin saw significant changes this year, especially with the launch of spot bitcoin ETFs and a major halving event, which affected miner revenues and the overall ecosystem.
Ethereum is evolving with its modular structure, increasing staking opportunities, and upgrades like Dencun, making transactions more scalable and efficient.
The stablecoin market grew tremendously, with new players entering the space, while decentralized exchanges became essential for trading and providing liquidity in the crypto landscape.
2024 was a big year for crypto, highlighted by Bitcoin ETFs launching and Bitcoin's price soaring to over $100K. It showed a strong recovery from the previous crypto winter.
Meme coins and stablecoins gained much popularity, with stablecoins being used more globally for payments and financial services. This shift indicates their growing importance in the financial system.
The U.S. presidential election boosted crypto markets due to pro-crypto policies, leading to record institutional interest and optimism for the future. Yet, some regulatory uncertainties are still present.
In the past year, Bitcoin ETFs have gathered a lot of money, reaching about $115 billion in assets. This shows strong interest from both individual and institutional investors.
BlackRock's Bitcoin ETF is leading the pack, holding around 540,000 BTC, while Grayscale has seen a drop in its holdings. This shift indicates a trend towards lower-cost investment options.
Bitcoin ETFs are changing how people invest in crypto, making it more mainstream. They also help support the demand for Bitcoin, which in turn influences its price movements.
Tokenized Bitcoin like WBTC and cbBTC makes Bitcoin useful across different blockchain networks. This helps people use Bitcoin in various ways, not just as a store of value.
WBTC is the biggest wrapped Bitcoin option, but cbBTC is quickly gaining popularity, especially on platforms like Base and Solana. Together, they have significant activity in decentralized finance (DeFi).
These tokenized Bitcoins allow users to engage in trading and lending without selling their actual Bitcoin. They open up new financial opportunities while also involving some risks related to how they are managed.