Smartcoins Podcast 🪙

2022-12-10 14:12:32 A year after Taproot, Bitcoin community works to unlock its DeFi potential

Taproot support across the industry is still crawling one year after the Bitcoin soft fork, indicating a strong potential for innovation and broader adoption of Web3 solutions to be unlocked through the world's largest cryptocurrency, sources told Cointelegraph. 

"Since early on, Satoshi predicted that layers being built on top of the Bitcoin blockchain would enable Bitcoin to move beyond being only sound money by adding programmability, which makes Bitcoin the optimal framework to build out Web3 capabilities," noted Alex Miller, CEO of the Web3 developer platform Hiro.

The Taproot upgrade took place in November 2021 and laid the foundation for accelerating decentralized financial services through the Bitcoin (BTC) network. It enables more efficient validation of multi-signature scripts, which addresses privacy issues, and improves block storage by reducing the size of complex transactions occurring on the network. Open / Comment

2022-11-27 09:06:55 Energy is the master resource but it could be Bitcoin that reigns supreme

The fight for energy has brought the E.U. to its knees as it struggles to satisfy demand with a weakened currency and rising prices. However, the aftermath of Europe's energy struggle could be beneficial to Bitcoin.

Nothing shines a light on the importance of energy as much as a fast-approaching winter. When the temperature drops, the scarcity of energy becomes obvious and global efforts to preserve it begin.

This year, the fight for energy is more aggressive than it’s ever been.
The fiscal and monetary policies set in place during the COVID-19 pandemic caused dangerous inflation in almost every country in the world.

The quantitative easing that set out to curb the consequences of the pandemic resulted in a historically unprecedented increase in the M2 money supply. This decision diluted the purchasing power and led to an increase in energy prices, sparking a crisis that is set to culminate this winter. Open / Comment

2022-09-21 13:01:37 Bitcoin Price Struggles At $19,000, Bears To Continue Dominating?

Bitcoin price plummeted consistently after it breached the $20,000 mark. Over the last 24 hours, the Bitcoin has registered very little movement.
In the past week, BTC lost close to 16% of its value. BTC quickly attempted to recover from the $19,000 price mark on its chart.

However, the bulls couldn’t defend that price mark. The closest support line for the Bitcoin price was $18,000. Bitcoin has been on a consistent downtrend over the past few months.

The technical outlook of the coin pointed towards increased bearish strength.
Selling pressure continued to exceed buying strength on the one-day chart. The $20,000 price mark will prove to be a strong resistance mark.

$20,000 is the key resistance mark for the Bitcoin price. Increased buying power may provide the coin with some temporary relief. Open / Comment