🗞 Daily Crypto News, February, 2nd💰

in #bitcoin • 5 years ago

  • Seed Phrase and Wallet Recovery Still Isn't Idiot-Proof;
  • Analysts Optimistic as Bitcoin Price Breaks Key Long-Term Barrier;
  • Zcash’s Funding Vote and the Woes of Decentralized Governance;
  • ‘Litecoin Leads Bitcoin’ — LTC 65% Gains Echo Start of 2019 Bull Run;
  • 9 Ks, 12.5 Percents, 51 Attacks and 20 Crypto Jokes;
  • 🗞 Daily Crypto Calendar, February, 2nd 💰

Welcome to the Daily Crypto News: A complete Press Review, Coin Calendar and Trading Analysis. Enjoy!

🗞 Seed Phrase and Wallet Recovery Still Isn't Idiot-Proof

"It's really hard to make something stupid, once you get your seed phrase and backup you can always restore or reinstall it."

"It can be challenging to restore or fix a wallet even when one has a backup file or the seed words saved."

Prominent gold bug and Bitcoin skeptic Peter Schiff is a genius. Okay, he isn't, but the apparent loss of his bitcoin (BTC) holdings has helpfully raised the topic of crypto-wallet security.

Yes, your holdings will most likely remain safe so long as you follow best practices, but the frequency with which people report lost crypto has revealed that things aren't as simple as they can be. And if crypto is to become mainstream, then holding onto your private keys, seed phrases and funds really should be idiot-proof.

🗞 Analysts Optimistic as Bitcoin Price Breaks Key Long-Term Barrier

After the price of bitcoin (BTC) crossed the technically important 200-day moving average line earlier this week, some analysts have come out with bullish calls for the number one digital asset.

Tom Lee of Fundstrat Global Advisors wrote in a private note to clients that the break of the 200-day moving average line means that bitcoin now is “back in a bull market.” He also added that the price has historically rallied by a larger percentage in the next six months whenever it breaks above the 200-day moving average line, than when it breaks below it, Yahoo Finance reported.

Lee also shared some highlights from his analysis on Twitter, where he said that 2020 is “shaping up to be [a] great year for BTC.”

https://twitter.com/fundstrat/status/1222566246455160832?s=20

🗞 Zcash’s Funding Vote and the Woes of Decentralized Governance

The zcash community has agreed to continue funding the development of its privacy coin, ZEC, as spearheaded by the Electric Coin Company (ECC) and the Zcash Foundation, according to voting results published by the foundation Thursday.

The decision marks the end of a months-long – and often contentious – campaign to address imminent funding losses for both organizations.

For the ECC and Zcash Foundation to continue developing zcash, particularly as its use case faces increased scrutiny from international regulators grappling with the implications of privacy coins, the funding is a lifeline for hiring top talent.

🗞 ‘Litecoin Leads Bitcoin’ — LTC 65% Gains Echo Start of 2019 Bull Run

Litecoin (LTC) hit $70 for the first time since September 2019 this weekend, fuelling speculation it will induce a Bitcoin (BTC) bull run.

Data from Cointelegraph Markets and Coin360 showed LTC/USD passing the notable $70 barrier on Feb. 1, going on to claim local highs of $71.50.

LTC seals 65% monthly returns

As with many major altcoins, the achievement caps a highly successful month for Litecoin, which on Jan. 1 traded at just $43.

🗞 9 Ks, 12.5 Percents, 51 Attacks and 20 Crypto Jokes

This crypto week, we watched Bitcoin play with USD 9K while coronavirus fears weighed on stocks, saw BTC usage rising on darknet markets, found a clear indication of healthy BTC adoption, and discovered that the 51% attack on BTC is pricier and on ETH cheaper. Speaking of ETH, a USD 1.57 million bet was placed in hopes that ETH will exceed USD 600 before the end of March. Speaking of attacks, Bitcoin Gold suffered two 51% attacks.

And while two former BitTorrent employees are suing Tron, a pool of anonymous Bitcoin Cash miners decided not to start a competing pool for now, but the 12.5% dev tax might still be implemented. Meanwhile Zcash community voted to change mining rewards. While Line is about to bring its token to 82 million users, former Google VP of Product joined Coinbase.

🗞 Daily Crypto News, February, 2nd💰

  • Callisto Network (CLO)

AMA from 19:00 to 20:00 (UTC+0) on Callisto's main Telegram channel.

  • WaykiChain (WICC)

"... The holiday time of WaykiChain team has been extended to Feb 2ed in accordance to China’s corresponding policy."

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5 years ago in #bitcoin by
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