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Bitcoin News Summary – December 9, 2019

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Ethereum successfully upgraded to its latest version, dubbed “Istanbul” over the weekend. The update contains numerous improvements that address Ethereum’s security against DDoS and spam attacks, gas usage costs, and smart contract flexibility. Istanbul also makes Ethereum interoperable with Zcash. While the fork was highly anticipated, the effect on the price of ETH has thus far proven mild.

$8.9 billion was moved over Bitcoin’s blockchain within the span of one hour, setting a new hourly record in terms of value transferred. The amount was moved by the Bittrex exchange between its cold wallets and consisted of 21 transactions of roughly 56,000 BTC each. The total fees were less than $15.

Privacy-oriented blockchain web browser Brave has seen the number of its monthly active users almost double from 5 to 10 million in one year. At the same time, the firm announced that the number of Brave’s daily active users has tripled over the past year to reach 3.3 million.  The Brave browser combines privacy with a blockchain-based digital advertising platform, offers 3 to 6 times faster browsing than other browsers while giving the masses absolute control over online activities.

The South African Reserve Bank announced plans to implement new rules for crypto to prevent the evasion of capital controls. The new rules are expected in the first quarter of 2020. Crypto demand and search interest are persistently high in South Africa, due to tight capital controls and a slowing economy.

Before we conclude, this week’s “Bitcoin quick question”: Can Bitcoin survive without the Internet?

Well, Bitcoin isn’t completely dependent on the Internet. Alternative methods for transferring transaction information such as radio waves, cellular networks or even innovative methods like Tx-tenna have been successfully used to broadcast Bitcoin transactions. Additionally, The Blockstream Satellite network broadcasts the Bitcoin blockchain around the world 24/7 for free, protecting against network interruptions. If you want to read more about this topic just visit this page.

That’s what’s happened this week in Bitcoin. See you next week.

 

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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2 comments on “Bitcoin News Summary – December 9, 2019”

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  1. I need help with bitcoin an online casino loaded bitcoin in blockchain wallet , I have the wallet id but don’t know how to get the bitcoin from wallet to my bank account also am confused as to what is private key….I apologize for lack of knowledge but do need help ,Tjanks

    1. Hi Bill,

      OK, well if you can access the blockchain wallet – which I assume is a wallet on blockchain.info or .com (they’re the same site) – then you can sell it by sending the coins to an exchange.

      You will first need to sign up with an exchange. See our exchange reviews section up top for help on choosing one that’s suitable for your location and preferences. Once signed up, you send the BTC from your Blockchain.com/info wallet to an address contained by your new exchange wallet. Once your coins arrive on the exchange, you trade them for fiat which you can withdraw to your bank account.

      Check the help and support pages or Blockchain and the exchange for more specific help in managing this process.

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