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Bitcoin News

Today Is Bitcoin’s Birthday: Turning 9 Years Old At $6k+

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Today is the mark of nine years since Bitcoin exists. Nine years after Satoshi Nakamoto announced the creation of the ‘peer to peer electronic cash system’, we can’t say much but thank Nakamoto and the idea of a decentralized network that became increasingly popular over the past few years.

There is even a Bitcoin whitepaper available for everyone who wants to read on the same Bitcoin.org domain which offers a fascinating view into the project which as of October this year (2017) has a market cap of over $100 billion.

Nine Years Later And $100Bn Later

The idea of the Bitcoin originally was as an established peer to peer network that allows online payments to be sent directly from one party to another without the presence of a centralized authority or institution. This idea has grown a lot over time and is now entirely possible, thanks to digital signatures that provide part of the solution as well as third-parties that are exchanging payments between them in a revolutionary way.

According to facts, there are currently more than 3 million daily users of cryptocurrencies – a number which is expected to exceed 200 million by 2024. At its birthday, Bitcoin is proud to have crossed the $6k mark and had even reached an all-time high of $6300 last week.

Other Important Considerations

October 31st is also a date significant for other reasons. This year, it is the deadline by which China’s domestic market exchange must cease providing Bitcoin-to-fiat trading. This will eventually set the trajectory of Bitcoin for the future and prove that it is here to stay as a result of competition from its copies such as Bitcoin Cash, Bitcoin Silver and Bitcoin Gold, as well as SegWit2x.

What do you think about Bitcoin – nine years later? Are you satisfied from its presence – and willign to say ‘happy birthday Bitcoin’?

Let us know in the comments!

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

Phillip is the Chief Editor of DC Forecasts. Reviewing and managing our Author/Journalist team. Meet the rest of our team: https://www.dcforecasts.com/team/

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Bitcoin News

The Number Of Crypto And Blockchain Jobs Have Increased By 300% From Last Year: Report

In the latest daily cryptocurrency news, we are focusing on the popularity of crypto and blockchain as industries which constantly attract new talent. Despite the slump in the prices of cryptocurrencies led by Bitcoin, it seems that the crypto and blockchain industries are attracting more specialists well-versed in these cryptocurrencies. According to a new report by Glassdoor, the US job postings with keywords related to blockchain, Bitcoin (BTC), as well as cryptocurrencies, rose by even 300%. The company took into account all of the blockchain-related terms and excluded jobs from third-party recruiting firms. From the 446 job openings reported in 2017, we now have 1,775 unique blockchain-related job openings in the US since August 2018, proving that the popularity of these jobs is high. Speaking of heights, the highest proportion of job openings within the US is concentrated in 15 cities, including the New York City and San Francisco, both having a 24% and 21% share of the total job ads, respectively. The most demanded blockchain roles are mainly technical and engineering - and the most popular job is "software engineer" holding 19% of the total job openings. However, there are many other aspiring roles including the role of an analyst relations manager, product manager, risk analyst, and marketing manager roles.
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Analysis

(Lost) Bitcoins Have A 20% Recovery Rate: Survey

In the latest Bitcoin news, we have a piece of analysis by Reuters that focuses on the retrieval rate of lost Bitcoins. If you own a Bitcoin and fall a victim of a theft, there is a little chance that you will ever see your crypto assets again, in fact, a 20% chance according to the analysis. According to the security experts, only a fraction of these cases ever get reported as victims believe that they are not likely to retrieve stolen cryptocurrency. Reuters also reported that the unique nature of cryptocurrencies has created a double-edged sword where investors don't expect criminals to be caught after the successful crypto heists. The report also showed that cybercriminals are turning to crypto more and more, mostly because of the popularity of the assets. According to Patric Wyman who is a supervisory special agent of the anti-money laundering unit at FBI:
“A decentralized currency system like bitcoin or another form of virtual currency is not governed by any entity, suspicious reporting activity, and any anti-money laundering compliance.”
David Jevans, a CEO of the California-based CipherTrace, was also quoted in the Reuters report, showing that about 20% of stolen crypto ever is recovered, even when trading platforms or exchanges are hacked. One financial research firm called Autonomous NEXT, in partnership with another one called Crypto Aware, estimated that around $1.7 billion worth of cryptocurrencies were stolen between 2012 and the first half of 2018. The data also revealed that over $800 million has already been stolen this year - and 85% of the total crimes are never even reported.    
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Altcoin News

Cobo: The Long-Awaited Chinese Wallet Raises $13 Million In Series A Funding

Meet Cobo, the new wallet service from China and a startup that is in the focus of the news on our DC Forecasts crypto news site this Saturday. According to recent reports, the startup has managed to raise $13 million in a Series A round and now expects global expansion. What's interesting is that Cobo already launched earlier this year - and since then managed to gain more than half a million users interested in Bitcoin and altcoin storage. Based in Beijing, China, Cobo is a wallet startup that wants to expand to the United States as well as Southeast Asia - particularly in Indonesia and Vietnam. The Series A round was successful for Cobo, as the startup was led by the Chinese family office Wu Capital and DHVC throughout the round. With the new $13 million in their bank, Cobo is now worth $20 million since its foundation in 2017, according to one press release. There are two flagship products that this Chinese crypto startup holds right now - a cryptocurrency hardware wallet known as the Cobo Vault - as well as a multi-asset cryptocurrency software named Cobo Wallet. What's special about the Cobo Wallet, according to many, is the Proof of Stake mining rewards system that allows users to grow their digital assets, supporting PoS cryptocurrencies such as VeChain, Tron, Zcoin, Dash, LiteBitcoin, Decred and Ontology. As the Managing Director of DHVC (who led the funding round), Judy Yan said:
“Cobo’s unique approach redefines the concept of crypto asset management and creates new opportunities for investors. The team leverages their extensive blockchain experience to help safeguard users’ assets while also generating returns for their benefit. We believe Cobo will lead an entirely new user experience for PoS coin holders.”
The Cobo Wallet also supports a couple of Proof-of-Work and Delegated-Proof-of-State coins and about 500 tokens. As such, it is proof that despite last year's ban on cryptocurrency trading in China, it did not fail to introduce the domestic (and foreign) markets with a completely new wallet service.
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Bitcoin News

New Research Shows That Bitcoin’s Price Is Not Linked To BTC Futures And Expiration Dates

The price of Bitcoin is apparently not related to the Bitcoin futures trading, according to a new study that was published by Cindicator. The actual report makes today's headlines on our DC Forecasts Bitcoin news site - and focuses on the price of Bitcoin and all of the factors affecting it. With a title Bitcoin Futures: Market Evolution, the report also studied the volume of Bitcoin on futures and spotted cryptocurrency exchanges to get an idea about the liquidity and development of the holistic trading market. Some of the findings included the presence of institutional investors in the future markets as well as their past positions on the futures, comparing them to the Bitcoin price movements before the future expired. Basically, the report centers around the theory that future markets, and their comparatively lower volume than the spot market, are right now insufficient catalysts when it comes to predicting Bitcoin spot prices. The researchers at Cindicator also noted:
“This is partly because of arbitrageurs trying to gain from differences between futures and spot prices that can be produced by lower liquidity and/or differing demand-supply dynamics of futures and spot investors in the short term,”
The report also pointed out to the Bitcoin price pattern before the first future contract expiry, noting:
“Probably because it was the first expiry, the CBOE futures experienced a spike in intraday hourly return volatilities on expiry,”
As the report found, the popular correlation of Bitcoin's price and Bitcoin futures could not sustain the mainstream fundamental factors that belittled futures market relevance in defining the Bitcoin price movements.
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