Amid the market carnage tied to Terra’s recent fallout, bitcoin sent to exchanges saw a brief spike on May 7, jumping more than 2% higher from 2.481 million to 2.532 million bitcoin. Despite the recent increase of bitcoin sent to trading platforms, the number of bitcoins on exchanges today remains lower than ever before. Bitcoin […]
As crypto enthusiasts worldwide celebrate Bitcoin Pizza Day, investors and traders are left feeling frantic in light of the ongoing market trend, impacting the performance of the star token with Bitcoin [BTC] registering low trade levels that lead to losses. Bitcoin can’t stop losing Although it has been over two weeks since the crash of […]
Nox Bitcoin, a cryptocurrency exchange in Brazil, has taken the unprecedented step of using its own funds to refund customers for their TerraUSD coins at the full rate. Following local media’s report on May 20, the Nox Bitcoin exchange has refunded all UST holders at a $1 rate with Tether’s USDT. The report stated that the crypto brokerage firm paid 620,000 Reais ($127,000). The exchange paid the amount to compensate all its customers who lost money due to the Terra ecosystem collapse. Related Reading | Ripple Price Falls Below $0.43 As Bears Take Control Of The Market “FatMan” of the Terra research forum commented in a tweet on May 20 that the decision might set a global precedent for other crypto exchanges. The tweet stated; This is fairly significant. A Brazilian cryptocurrency exchange has refunded all UST holders at a 1:1 rate with USDT. Likewise, this case may be used as key precedent to argue that exchanges are liable for UST losses. If tortious misrepresentations were made. UST Back At $1 For Those Lucky Ones The exchange stated that it would refund the customers the amount of the difference between the present rate for UST and the dollar peg it collapsed from. This implies that a holder of 100 UST at $0.06 will receive a refund of 94 USDT. According to Nox Bitcoin CEO Joo Paulo Oliveira, the firm is not responsible for bearing clients’ losses from investing in certain currencies on its platform. Yet, they decided to intervene to ensure their customer’s trust. He continued; Clients have trusted us with staking and we understand that their trust is much more valuable than anything else. As a result, we’re going to reimburse these users minus the expenses we’d have elsewhere, like marketing. The news came as a relief and brought positiveness to the cryptocurrency space. However, the decision by the Nox Bitcoin exchange reflects the Brazilian customer protection regulations. The exchange also offers staking services, such as Anchor Protocol, which UST heavily uses. The DeFi protocol offered up to 20% APY on UST staking and was primarily seen as being instrumental in its collapse due to these unsustainable yields. People are now waiting to see what happens next regarding listing UST and LUNA. “It is possible that this will no longer exist in the near future,” stated Oliveira before adding, “but you never know what can happen in an unpredictable crypto market.” Related Reading | Cosmos (ATOM) Skyrockets 12% Following Bitcoin And Ethereum Recovery According to Tradingview, UST is trading at $0.067 with a 1% increase at the time of writing. The “unstablecoin” has withdrawn 93% from its peg. And it is unlikely to get back to it without major intervention such as a TerraForm Labs hard fork. Also, TerraForm’s LUNA has dumped a similar amount. As a result, the coin is trading at $0.00020 with a market cap of $1.35 billion and 6.5 trillion tokens in circulation. Featured image from Flickr, and chart from Tradingview.com
The alt marketplace eased volatility within the past couple of days as most assets saw bodied candles on their respective charts. SAND, GALA, and DOGE mimicked the broad market actions as they recorded upswings from multi-yearly/monthly lows on May 12. For now, the trio battles to overcome the shackles of squeezed phases while bulls need …
China mag dan wel het land zijn van de enorme economische groei, van de Chinese muur en van lekker eten, het is ook het land van grote voedselschaarste, van de digitale firewall en stevige censuur vanuit de overheid. De Chinese bevolking is hier niet blij mee, en contentmakers hebben al
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Het is weer tijd voor een korte technische analyse update, deze bestaat uit een aantal analyses welke eerder deze week door onze analisten zijn gedeeld in onze premium omgeving voor leden. In deze update vind je recente analyses van MANA, MATIC, RSR en CRV. De markt is de afgelopen periode
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I realize that this is how Satoshi named them and there was some reasoning behind these names, but even after years of using them, I find them weird and confusing, especially when e.g. explaining them to new people.
AFAIU, we could all just pick and start using new names like "output script" and "input script", and gradually rename them in source codes of Bitcoin Core, various tools and so on.
Is this feasible? Is there any technical reason no to? Did anyone ever tried? How would I go about it? A BIP?