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Today at laBITconf, Julian Dragonosh taught us how to assemble a Bitcoin node and gave us reasons why we should do it.

The end of BITconf is approaching. Important topics are still being discussed there, such as the one we are covering in this article. Below we summarize what Julian Dragonosh said in his panel about installing a Bitcoin node and why it’s worth doing.

To start with his presentation, Julian tells us that a node is each of the parts that make up the blockchain network, interconnected by working in an equivalent way and sharing information with each other.

The nodes work simultaneously and run the software that makes the crypto currency work.
Julian Dragonosh performing his panel where he talked about how to install a Bitcoin node. Source: laBITconf. Julian Dragonosh performing his panel where he talked about how to install a Bitcoin node. Source: laBITconf.
How to mount your Bitcoin node

After a brief introduction, the speaker goes into a technical tutorial for the installation of a Bitcoin node, telling us that the basic requirements are currently:

• 250 GB of free space on the hard disk
• Computer with a recent version of Windows, Mac OS or Linux
• 2gb RAM memory
• Internet connection with speed of at least 50 kilobytes per second

Procedure

Open the wallet and wait for the Bitcoin network blocks to be downloaded and checked. This is a long process, because currently the total weight of the BTC blockchain is over 175 GB.

Download and run a Bitcoin client.

Direct your router’s port 8333 to the computer’s IP. To do this, access your router’s configuration by entering 192.68.1.1 or 192.168.0.1 in your browser. Go to the section “Port Forwarding“ or similar depending on your router. This may be the most complicated step, but don’t worry, this will not affect your browsing speed or anything else.

Finish by restarting your router and Bitcoin client.

Wait a couple of minutes when you turn everything back on, and verify that all the lines in the signal indicator of the wallet, located at the bottom, are active.

Mining Bitcoin with CPU, why is that a bad idea?

The good thing about having your own node

Sovereignty stands out as the main advantage of running your own Bitcoin node, since it’s possible to connect it to your own wallet, giving you the key to the network. Nobody has to tell you if what you did got to where you sent it, you can verify and validate it yourself, assures the panel speaker.

In addition, you avoid giving information to third parties which increases your privacy. Not depending on anyone is the vision of Bitcoin.

When you enter this ecosystem trying to escape the habit of having to depend on institutions that give you access to the system, it wouldn’t make sense to use third-party cryptographic services that run a node for you.

Bitcoin (BTC) and the new generations

Basic commands to execute in your node

To finish with the panel, Julián shared with us some basic commands that you can run in Bitcoin Core.

The node protocol offers an interface through which you can execute commands, useful to perform validations, operations or any other type of administrative nature. They can be executed from the Bitcoin console, or from the command terminal on your computer.

Recently, Bayer announced that it has launched a new network together with BlockApps, a provider of block chain platforms. The network is designed to change the way agricultural products are managed.

On November 18, Bayer published a report on the collaboration. The new platform called „TraceHarvest Network“ offers users the possibility to track the complete supply chain of agricultural products in real-time. The aim of the block chain-based platform is to optimise processes and thus create access to new markets.

Blockchain technology is already revolutionising Immediate Edge agriculture and we are leading the way thanks to our partnership with Bayer’s Crop Science Division, which has taken this concept from idea to reality.

said Kieren James-Lubin, President and CEO of BlockApps. In this context he spoke of new standards that would shape the future of the industry. Another advantage of the platform, he said, was that it could also be used for consumer protection because of its transparency. Sascha Israel, Bayer Crop Science CIO and Head of Digital Transformation, said the following:

By providing traceability of products throughout the food supply chain, TraceHarvest provides a basis for new solutions and services on food quality and transparency issues of paramount importance to farmers and consumers.

Bayer has already been using BlockApps‘ network for two years to track agriculture in different countries. According to BlockApps, the company’s Blockchain would have revolutionised the agricultural industry by now. However, it is also stressed that this was only possible with the support of Bayer.

Translated with www.DeepL.com/Translator (free version)

Despite its own record run, gold is losing ground to Bitcoin and has dropped to a year-long low in comparison.

Bitcoin ( BTC ) has risen to a price of 7 ounces of gold for the first time in more than a year after the precious metal began to plummet again.

As data from CoinGecko for BTC / XAU, i.e. the currency pair consisting of Bitcoin and gold, show, the important 7 ounce mark was reached again for the first time on October 25. At the time of going to press, the Bitcoin Fortune price, measured in gold, could even advance to 7.02 ounces.

Gold is losing to BTC

Although Bitcoin is currently on the downside again after the $ 14,000 mark was scratched, things continue to look good for the market-leading crypto currency compared to the precious metal, as the latter has lost again due to the returning uncertainty of the corona crisis .

The last time the sound barrier of 7 ounces was broken was in September 2019.

Crypto-analyst PlanB , who is known for using the popular stock-to-flow forecast model on Bitcoin, emphasizes the importance of this development and calls it „significant“.

„It looks like #Bitcoin is getting ready to cut a bigger slice of the market capitalization pie of gold,“ crypto expert Ecoinometrics replied. So he then formulates a downright challenge to the crypto currency:

“Right now #BTC is only 2.4% of the market capitalization of gold. So this is just the beginning. „

The assessments of the two experts coincide with the latest thesis by Real Vision CEO Raoul Pal , who is convinced that gold is losing more and more to Bitcoin . So he writes:

“As expected, gold is losing to Bitcoin. Next, I expect Bitcoin to be able to outperform the US dollar and the stock market as well … let’s wait and see. #Bitcoin “

Ship renews criticism

Gold advocate and Bitcoin critic Peter Schiff sees the soaring of the cryptocurrency meanwhile as an occasion to strike against it again. Although the previous record high of 20,000 US dollars is still a long way off, Schiff once again describes Bitcoin as a „speculative bubble“.

„If you compare the size of a speculative bubble with the confidence of investors in their investment, #Bitcoin is the largest speculative bubble I’ve ever seen,“ he wrote accordingly on Twitter . And further:

„Bitcoin investors are more convinced that they are right and cannot lose than investors in the dot-com bubble or before the financial crisis.“

I funzionari cinesi stanno prendendo provvedimenti contro i traffici di cavi. La borsa dei futures bitcoin dell’ECM si sta riscaldando, segnalando l’interesse istituzionale.

E il gettone di parentela di Kik continuerà a svilupparsi dopo un accordo con la SEC da 5 milioni di dollari.
Lo scaffale più alto

Ondulazione, dall’altra parte dello stagno

Il CEO di Ripple, Brad Garlinghouse, ha fornito maggiori informazioni sul possibile allontanamento dell’azienda dagli Stati Uniti, affermando che lo status legale della crittovaluta XRP è fondamentale. Parlando con la CNBC Friday, Garlinghouse ha detto che la sua società di infrastrutture per i pagamenti a catena di blocco potrebbe potenzialmente trasferirsi a Londra, dove il regolatore della nazione ha „chiarito“ che l’XRP non è una sicurezza ed è usato come valuta. Ripple è attualmente impegnata in una controversia legale con gli investitori statunitensi che sostengono che l’XRP è un titolo emesso illegalmente. La Securities and Exchange Commission non è stata chiara sulla questione. Anche la Svizzera, Singapore, il Giappone e gli Emirati Arabi Uniti sono sul tavolo per potenziali sedi centrali.

La repressione dei vincoli
Le autorità cinesi, compresa la banca centrale della nazione, hanno arrestato 77 sospetti e chiuso tre siti di gioco d’azzardo che si dice abbiano „imbiancato“ fondi illeciti usando lo stablecoin tether (USDT). Annunciato su WeChat, l’ufficio di Huizhou della PBoC ha detto che i sospetti hanno riciclato 120 milioni di yuan (17,95 milioni di dollari) ottenuti attraverso l’attività illegale di gioco d’azzardo online, in parte attraverso l’USDT. A luglio, diversi trader di crypto over-the-counter (OTC) sono stati arrestati al fine di assistere gli sforzi investigativi dello stato che coinvolgono attività economiche illegali. È „illegale aprire casinò e partecipare al gioco d’azzardo online“, ha detto il PBoC. „Non siate curiosi e fortunati. Qualsiasi „travestimento“ non può sfuggire alla supervisione ad alta pressione“.
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Interesse istituzionale
Il Chicago Mercantile Exchange (CME) è diventato la seconda piattaforma di bitcoin futures per numero di contratti aperti, segnalando un interesse istituzionale. A partire da giovedì, i contratti bitcoin futures del valore di 790 milioni di dollari sono stati aperti sulla CME, secondo la fonte dati Skew, superando il 15% dell’interesse totale globale aperto. „L’ascesa del CME è guidata principalmente dalla partecipazione istituzionale, poiché alla maggior parte dei partecipanti di quel segmento è proibito negoziare derivati non regolamentati quotati su piattaforme al dettaglio come BitMEX e Binance“, ha detto Matthew Dibb, co-fondatore di Stack Funds. Questo accade quando lo scambio di opzioni rivali BitMEX si rivolge a quotazioni di futures focalizzate su DeFi, incluso yearn.finance (YFI).

Whopping buy
Grayscale Investments ha aggiunto al suo bilancio 300 milioni di dollari in un solo giorno, l’amministratore delegato Barry Silbert ha twittato su Twitter giovedì sera. La somma aggiuntiva porta il totale tenuto in gestione a 7,3 miliardi di dollari. „La mossa arriva in un momento in cui l’ondata di pressioni che circonda l’incursione di PayPal nei mercati delle valute criptate ha attirato ulteriore attenzione da parte di grandi investitori, tra cui Paul Tudor Jones II“, riferisce Sebastian Sinclair di CoinDesk, e segue i migliori risultati trimestrali del digital asset manager annunciati la scorsa settimana. (Grayscale è la società sorella di CoinDesk, entrambe di proprietà di Digital Currency Group, di cui Silbert è uno dei fondatori).

Un ritorno a galla?

Il regolamento della Securities and Exchange Commission da 5 milioni di dollari di Kik non ucciderà i parenti, il no-profit dietro il gettone annunciato. La „nuvola di incertezza si è dissipata“, ha affermato la Kin Foundation in un post sul blog. Con il tesoro rimanente di Kik e le riserve di Kin, i leader del progetto intendono continuare lo „sviluppo attivo“ dell’open-source Kin SDK, il nuovo portafoglio Code e il passaggio alla catena di blocco Solana. La fondazione ha anche sostenuto che la SEC non considera Kin una sicurezza e il giudice non ha trovato il gettone in violazione delle leggi sui titoli. Pertanto, Kin „dovrebbe essere libera di commerciare in borsa“.

The U.S. presidential election is just around the corner. Under this scenario, it is expected that the reaction to the crypto-currency and Bitcoin will be very strong.

This November 3 is the date of the presidential elections in the United States. Donald Trump, the current president and the Republican Party candidate, is facing Joe Biden, the Democratic Party candidate, mainly known for being Barack Obama’s vice president from 2008 to 2016. The voters in the United States will decide whether Donald Trump stays in the White House for four more years or not. What does a possible re-election of Donald Trump mean for the economy, and what does it mean for the crypto coins and Bitcoin?

Although crypto currencies were created to separate themselves from the financial system, Bitcoin and the rest of the digital assets do not move outside the economic system of the dominant countries. In the sphere of cryptomonies and blockchain, it is difficult to get rid of politicians and vice versa.

The economic events are not only affecting traditional economies and all eyes are on the US presidential elections in 2020. But despite the immense benefits of blockchain and digital currencies, not everyone is prepared to make use of them or believe in their potential.

The decentralized nature of crypto and blockchain has always been a hard pill to swallow for most governments, and the United States is no exception.

Donald Trump crypt coins and Bitcoin What to expect?

The 45th President of the United States is well aware of Bitcoin and doesn’t like it. In July 2019, Trump unleashed a scathing attack on the leading crypto currency in a tweet that came days after the launch of Facebook’s Libra crypto currency project. He stated categorically that he was not a Bitcoin fanatic, that crypto currencies are not money and that their value is very volatile.

The Trump administration has failed to create a clear regulatory framework on digital coins and blockchain. However, in March, the Office of the Comptroller of the Currency announced the appointment of Bitcoin’s Brian Brooks as its chief operating officer. The appointment was seen as an endorsement of blockchain technology by the Trump administration.

Joe Biden

However, the former US vice president and the only Democrat competing for a presidential post after Bernie Sanders retired is presumed to be a Bitcoin supporter. In one article, Joe Biden was portrayed as „the Bitcoin candidate“.

While he has not gone public to support cryptosystems, Biden is a strong supporter of technology and innovation. In 2011, he commented on the internet and called it a neutral source: „The internet itself is not inherently a force for democracy or oppression, for war or peace. Like any public square or any trading platform, the internet is neutral.

In addition, the Political Action Committee, which was campaigning for Biden’s presidential candidacy, began accepting donations from Bitcoin in 2016. According to the CAP director at the time, the move was in line with Biden’s „support for technology and innovation throughout his career“.

But how do the two candidates influence cryptomoney and Bitcoin?

Kryptomone macro-analyst Alex Krüger fears that the election of Joe Biden could lead to higher taxes and more regulation. Both factors could increase pressure on the economy and the stock market.

In addition, Biden, together with the US Federal Reserve, could continue to pursue a flexible monetary policy and thus send the US dollar lower. This could benefit precious and base metals and Bitcoin in particular, which are valued against the dollar, Krüger said.

On the other hand, a re-election of Donald Trump could mean a different, although more optimistic, scenario. According to Kruger, a Trump victory „would require some adjustments, but would lead to an even stronger bullfight. Everybody wins“. A senior executive at Credit Suisse shares Krüger’s opinion.

According to Suresh Tantia, the stock market could experience a 5% decline after the elections. He also stressed that the Fed’s fiscal policy has not had any noticeable effect, either on the stock market or on the dollar. The continued downward trend of the dollar and the stagnation of the stock market could boost sentiment around Bitcoin and gold in the long term.

The future of the crypt coins in your hands

However, as Krüger also pointed out, a new economic stimulus package could have an even greater impact on the price of Bitcoin. According to the expert, it is rather unlikely that another package will be approved before the elections. Instead, he expects it to be approved in the first half of 2021.

According to Krüger, this could have an even greater macroeconomic impact on Bitcoin and gold. A second stimulus package would relieve the considerable pressure on all asset classes and have a positive impact on Bitcoin.

As the crypt coin market continues its highs, the Bitcoin world is looking very closely at what will happen next November. Without intending to, Trump and Biden have the future of the assets in their hands.

The BitMEX founders were previously charged for failing to stop money laundering and illegally operating an unregistered trading platform in the United States.

The operator of the crypto derivatives exchange BitMEX 100x Group has hired the experienced anti-money laundering specialist Malcolm Wright to head the compliance department

In an October 12 announcement , 100x Group praised Wrights as the current chairman of the advisory board and AML working group at Global Digital Finance and a speaker on key topics, including the recommendations of the Financial Action Task Force for virtual asset service providers.

The 100X Group had redesigned its top management last week, removing BitMEX co-founders Arthur Hayes, Samuel Reed and Ben Delo from management positions. Hayes, Reed and Delo were all indicted in a civil lawsuit by the US regulatory agency, the CFTC, for operating an unregistered trading platform in the US and for violating anti-money laundering regulations.

In parallel, the Justice Department has indicted the co-founders and Geoff Dwyer . He was subsequently on leave from his position as head of economic development

Without addressing these recent allegations directly, 100x Group has officially stated, „The appointment of Malcolm is a remarkable milestone for us as we complete our user review program and further strengthen our compliance efforts.“

Wright’s LinkedIn profile states that he spent nearly two and a half years at Global Finance. He was also a member of the advisory board for London-based Commercial Passport KYC and an associate partner at the Royal United Services Institute, which contributes to political debates on white-collar crime. He is also the founder of the Financial Crime Compliance consulting firm and the former head of compliance at Diginex and EQUOS.

The 100x Group is facing the great challenge of washing the stock exchange’s image clean again. In comments, it said the allegations against the BitMEX team have harmed the entire industry and could spark a regulatory backlash against the entire crypto space.

Keith McCullough, CEO da Hedgeye, disse que o mercado de criptomoedas de hoje decidiu vender todos os Bitcoins que possui. A decisão partiu de sua análise de como o mercado está em um período de desaceleração.

Em 6 de outubro, o CEO da Hedgeye, uma empresa de gestão de risco, fez um post no Twitter em que afirmava sua venda

Alguns dias depois, McCullough acompanhou seu Tweet, onde afirmou que defendeu sua decisão sobre a venda já que, de acordo com sua análise, o Bitcoin Pro tem que ultrapassar seu preço médio de venda. Para isso, o Bitcoin teria que ultrapassar $ 11K

Aumento do preço do Bitcoin: a recuperação de Trump do COVID influenciou isso?

Previsão de preço do Bitcoin – BTC / USD atinge $ 11.500 enquanto touros olham para o próximo penhasco de $ 12.000

Ele também explicou o que fez em um post no site oficial de Hedgeye. Aqui ele afirma que não tomou sua decisão pessoalmente, mas queria maximizar o retorno do capital investido. McCullough deu a entender que há uma probabilidade crescente de # Quad4 no quarto trimestre. Keith McCullough acredita que há uma desaceleração da inflação e do crescimento monetário.

O CEO prevê em outras declarações que o fortalecimento do dólar nesta semana pode reverter o valor do Bitcoin. Notavelmente, o Bitcoin neste fim de semana subiu para $ 11.300

Seus 190 mil seguidores receberam a notícia chocante no Twitter. A Hedgeye Risk Management oferece aos seus clientes a melhor ferramenta para a gestão de riscos.

Hedgeye fornece serviços de consultoria para empresas com mais de US $ um trilhão em ativos. Esta empresa oferece consultoria financeira e conteúdo em seu canal do YouTube “Hedgeye TV”. Keith McCullough oferece conselhos econômicos neste canal, entre outras coisas, para seus 42 mil seguidores.

Em um vídeo do Youtube, o CEO disse que o Bitcoin parecia otimista. Ele também disse que há uma correlação inversa, a uma taxa crescente, com o índice do dólar.

Keith McCullough falou formalmente sobre o Bitcoin em dezembro de 2017. Naquele ano, o Bitcoin atingiu US $ 20.000. Desde então, McCullough falou sobre a moeda.