Tag: return

Debt: Bitcoin Is Not A Return To Stateless Money, It Is the First

coiner

I have just finished reading Debt: The First 5000 Years by anthropologist David Graeber. The book takes a look at the history of money, debt, and how they relate to societal structures from a lens that departs heavily from the conventional wisdom of economic thinking. Conventional wisdom paints a picture of people inefficiently bartering goods and services directly for each other, and money naturally arising as a result of the problems inherent in this. Graeber eviscerates this narrative looking at anthropological history. Primitive communities simply shared their resources freely with…

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Is crypto market past ‘point of no return?’

coiner

Bitcoin and the broader crypto market have been gleefully declared dead more than a few times during bear markets, but some experts say it would take a genuinely extreme set of events for it to truly die. According to 99Bitcoins — a website that, among other things, tracks how many times Bitcoin (BTC) has been declared dead by mainstream media outlets — the largest crypto by market cap has died 474 times since 2010. Often, the proclamation is met with cheering by crypto skeptics as evidence that BTC is not…

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Bitcoin volume hits lowest since early 2021 amid fear $25K may return

coiner

Bitcoin (BTC) stayed static at the July 31 Wall Street open as analysis warned that the net was closing in for bulls. BTC/USD 1-hour chart. Source: TradingView $28,300 “last line of defence” for BTC price Data from Cointelegraph Markets Pro and TradingView followed the BTC price as it greeted the last trading day of July with more sideways behavior. Much like the weekend and the week prior, nothing seemed able to effect a major trend change, while a brief spurt above $29,500 after the weekly close provided the most interesting…

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Celo blockchain proposes return to Ethereum ecosystem, transition to L2

coiner

CLabs, the organization responsible for developing the Celo blockchain, is seeking to return to the Ethereum ecosystem by transitioning from an independent EVM-compatible layer-1 blockchain to an Ethereum layer-2 solution.  According to a proposal discussion on Celo’s governance forum, the transition would include leveraging OP Stack as the architecture to become an Ethereum L2 blockchain, eliminating the need to monitor tooling and libraries composability through upgrades, thus “making it easy for Celo developers to utilize the full gambit of Ethereum tooling/libraries.” Other key differentiating factors would include an off-chain data…

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Arcadia Finance hacker used reentrancy exploit, team demands return of funds

coiner

The Arcadia Finance attacker used a reentrancy exploit to drain $455,000 from the decentralized finance (DeFi) protocol, according to a July 10 post-mortem report issued by the app’s development team. A “reentrancy exploit” is a bug that allows an attacker to “reenter” a contract or interrupt it during a multi-step process, preventing the process from being completed correctly. The team has sent a message to the attacker demanding the return of funds within 24 hours and threatening police action if the hacker fails to comply. Post Mortem of ongoing situation,…

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