As Bitcoin turned ten years old, its price eyed a key level and New York formed a crypto task force. HitBTC also denied association with the Proof of Keys event and an article discussed Satoshi Nakamoto’s true identity.
Catch up on the details!
At 10 Years Old, Bitcoin Is A Wunderkind Who’s Fighting For Our Freedom
Bitcoin turned ten years old today and has come a long way since its inception. Bitcoin was born in 2009 in the midst of a recession – a time when people likely saw greater reason for skepticism toward the fiat currency system.
In an article on Bitcoin’s history, Crypto Insider described Satoshi Nakamoto’s invention as “sound and uncensorable money.” The piece metaphorically described Bitcoin as a prodigy, seeing scrutiny, competitors and copycats along the way, as well as individuals who believed in an asset that fought against the economic norm.
Bitcoin Eyes Test Of Key Price Hurdle In First Since November
For the first time since November, bitcoin could visit the 50-day simple moving average (SMA) at a price of $3,940 at the time of CoinDesk’s article on the subject.
When the article was published, bitcoin was also priced at $3,840 – within $100 of the moving average.
The last time price hit the 50 SMA was on November 8, at a price of $6,450.
“[P]rice chart analysis indicates that the bulls have won control, at least for the short-term,” CoinDesk noted.
“BTC, therefore, could test and possibly break above the 50-day SMA line of $3,940 in the next day or two.”
New York Forms Blockchain Study Task Force, Hints At BitLicense Update
According to a bill signed by Governor Andrew Cuomo in December, New York State has started a task force to learn more about cryptocurrencies and blockchain. Assemblyman Clyde Vanel sponsored the bill.
“The task force will be composed of technologists, consumers, institutional and retail investors, representatives of enterprises and academics,” reported CoinDesk.
The study will be a lengthy one, as the deadline for panel reports is not until December 15, 2020. The reports will discuss optimal regulatory practices, among other important topics such as mining energy usage.
“The task force of experts will help us strike the balance between having a robust blockchain industry and cryptocurrency economic environment while at the same time protecting New York investors and consumers,” Vanel stated, as reported by CoinDesk.
HitBTC Dismisses Allegations It Froze Accounts In Response To Proof Of Keys Event
An article posted yesterday on CoinTelegraph noted a suspicious HitBTC account withdrawal freeze which occurred just a couple days prior to Trace Mayer’s Proof of Keys event. (Proof of Keys is an event scheduled for today, urging crypto users to withdraw their funds to private storage.)
According to an update report from CoinTelegraph, HitBTC has denied such alleged associations to the Proof of Keys event.
CoinTelegraph received an email today from Peter Swen of HitBTC’s marketing brass in response to CoinTelegraph’s request for comment.
“These temporary, safety-related withdrawal freezings are a direct consequence of our international KYC and AML measures. These rules exist and apply to us and everybody, 24 hours a day, 365 days of the year,” Swen said in the email to CoinTelegraph.
“Therefore, we do not turn off any security tools or checks, ever. Not on regular days, and not on special days; including events and flashmobs such as Proof of Key Day (January 3rd).”
From Dorian Nakamoto To Elon Musk: The Incomplete List Of People Speculated To Be Satoshi Nakamoto
Referencing bitcoin’s inception ten years ago, CoinTelegraph wrote a recap of several people thought to be bitcoin’s creator – Satoshi Nakamoto.
The article listed over ten suspects, including Dorian Nakamoto, Nick Szabo, Hal Finney and Elon Musk, as well as others.
The article also included conspiracy speculations that Satoshi Nakamoto could be a government agency.