Today in crypto heard rumors of Satoshi’s return, saw capitulation talk, Bitcoin ETF pitches/appeals, an Intel patent for Bitcoin mining, and further negativity from mainstream influencers. Read up on the details.
Satoshi Nakamoto’s Profile Updated 2018!
Bitcoin creator Satoshi Nakamoto is famous for his anonymity and general disappearance. However, an update to Nakamoto’s P2P account just surfaced.
Someone posted the word “nour”, complete with quotation marks.
“Back in 2014, his email that was associated with Satoshi’s P2P profile was compromised. This could be a continuation of that potential hack, or perhaps it is something else”, Crypto Insider reported today.
Capitulation? Bitcoin’s Price Dropped 36% In November
The latter half of this year has seen significant talk of capitulation for crypto markets. Some arguments might say capitulation happened this month.
Bitcoin started November off around $6318. Today, the last day of November, has Bitcoin trading around the $4k range. That’s roughly a 36% drawdown in price for the month.
“That drop marks the biggest monthly loss of the year so far”, reported CoinDesk. Starting off the month in the $6k range for BTC already showed about a 70% drop from all-time highs.
Bitcoin ETF Seekers Met With SEC Monday In Latest Pitch For Approval
Cboe’s BZX Exchange, SolidX, and VanEck conducted a meeting with the SEC Monday. They aimed to present swaying information regarding their case for a Bitcoin ETF approval.
The entities aimed to show Bitcoin’s market as sufficiently developed and able to handle the ETF. They also lobbied the Bitcoin market to be more resilient to manipulation, when compared to other commodity markets with ETFs.
American Tech Giant Intel Files New Patent For Energy-Efficient Bitcoin Mining
Intel filed an interesting patent on Tuesday, which might hopefully help in solving the problem of energy used for Bitcoin mining.
The patent describes an – “[o]ptimized SHA-256 datapath for energy-efficient high-performance Bitcoin mining”. The technology could allow for 15% less energy use.
UBS Executive Paul Donovan Blasts Bitcoin Again, States Cryptos Are ‘Fatally Flawed’
More negative comments from the mainstream world. Paul Donovan, Wealth Management Global Chief Economist for the Union Bank of Switzerland, labeled Bitcoin as fundamentally flawed yesterday.
An interview with CNBC saw Donovan state – “[t]o be perfectly honest, I think anyone with a high school education in economics has been a Bitcoin skeptic right from the start. These things were never going to be currencies, they’re not going to be currencies at any point in the future, they’re fatally flawed”.