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BTC at $97,237.67 (+0.68%), consolidating near resistance; potential slight upward move or stagnation.
#BTCOutlook $BTC
#BTCOutlook $BTC
Bitcoin (BTC) is currently priced at $97,816.75, showing a 4.66% increase amidst market pullback. $BTC #MarketPullback
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Binance Academy
--
What Is Bitcoin and How Does It Work?
Key Takeaways
Bitcoin is the first cryptocurrency to be ever created. It was created in 2008 and launched in 2009 by pseudonymous Satoshi Nakamoto.
Bitcoin runs on blockchain technology, which works like a public ledger. All Bitcoin transactions are verified by a network of nodes spread around the world.
Bitcoin is decentralized, transparent, and open source, making it a popular alternative to traditional financial systems.
What Is Bitcoin?
Bitcoin is essentially digital money. It is the first cryptocurrency ever created, announced in 2008 (and launched in 2009). Bitcoin allows users to send and receive digital money called bitcoins (with a lowercase b, or BTC for short).
Unlike traditional fiat currencies issued by governments (like dollars or euros), Bitcoin is decentralized, meaning no single institution, government, or entity controls it. Transactions are conducted peer-to-peer, removing the need for banks or financial institutions to act as intermediaries.
What makes Bitcoin highly appealing is its inherent resistance to censorship, the impossibility of double-spending funds, and the ability to conduct transactions anytime and anywhere.
How Does Bitcoin Work?
Bitcoin operates on blockchain technology, a public ledger that records all transactions. This means every Bitcoin transaction is transparent, verifiable, and secure.
Imagine blockchain as a chain of blocks, where each block holds information about transactions. Every time someone uses Bitcoin, their transaction is added to the blockchain, and this record is stored across a global network of computers (called nodes).
This distributed network ensures that no single party can manipulate the data. Anyone can participate in the ecosystem by downloading Bitcoin's open-source software.
Decentralization: Bitcoin's blockchain is maintained by a distributed network of computers, ensuring no central authority controls the ledger.
Immutability: Once a transaction is added to the blockchain, it cannot be altered or deleted.
Security: Transactions are encrypted using cryptography, and verifying each block requires solving complex mathematical puzzles, a process known as mining.
BTC transaction example
When Alice sends a BTC transaction to Bob, the blockchain database updates their balances (e.g., removing 1 BTC from Alice and adding 1 BTC to Bob’s balance). It's like Alice is writing on a piece of paper (that everyone can see) that she's giving Bob 1 BTC.
When Bob goes to send the same funds to Carol, the network can easily check if he has enough BTC balance. The blockchain acts like a digital ledger that tracks all Bitcoin transactions and keeps the users’ balances up-to-date.
Since the network is decentralized, all participants (nodes) have an identical copy of the database (blockchain ledger) stored on their devices. So, they have to communicate constantly to synchronize new information.
Bitcoin mining
Bitcoin mining is the process that secures the Bitcoin network and confirms transactions. When a user makes a BTC transaction, they broadcast it to the network, where it is verified by other nodes known as "miners".
In other words, mining refers to the process of verifying transactions and recording them into the blockchain database (ledger). To do so, miners compete to solve a complex math problem, which requires a lot of computing power.
The first miner to solve the puzzle gets to add a new block of transactions to the blockchain. In return, they are rewarded with new bitcoins. The high cost of mining is one of the things that keep the network secure, and the block rewards given to miners are the only source of “fresh” bitcoins. Each block mined adds a certain amount of coins to the total supply.
Proof of Work (PoW)
To maintain the security and integrity of the blockchain, Bitcoin uses a consensus mechanism known as Proof of Work (PoW). It’s an essential part of the mining process described above.
PoW is a mechanism created along with Bitcoin to prevent double-spending in digital payment systems. Besides Bitcoin, many cryptocurrencies use PoW as a method for securing their blockchain network.
When we talk about a “complex math problem” that miners have to solve, we are basically talking about PoW. It was designed to make it expensive to create a block, but cheap to verify that it's valid. Suppose someone tries to cheat with an invalid block. In that case, the network immediately rejects it and the miner is unable to recoup the cost of mining.
What Is Bitcoin Used For?
Bitcoin is primarily used as a digital currency and store of value. It can be used to make purchases online or in person, similar to traditional currencies. More and more businesses are accepting Bitcoin as a payment method. From online retailers to brick-and-mortar stores.
You can also use Bitcoin to send money to anyone across the globe quickly and with relatively low transaction fees compared to traditional banks and remittance services.
As an investment, many people buy Bitcoin, hoping its value will continue to rise. While the price of BTC can be volatile, some investors see it as a way to diversify their portfolios and hedge against inflation in the long term.
Who Created Bitcoin?
Bitcoin was first introduced in 2008 when Satoshi Nakamoto published a whitepaper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System". This paper introduced a new digital currency that would operate on a decentralized system without relying on governments or the banking system.
In January 2009, the Bitcoin protocol was released, and the first bitcoin transaction took place between Satoshi Nakamoto and a programmer named Hal Finney. The transaction involved sending ten bitcoins from Nakamoto to Finney.
After the first transaction, more people began to discover Bitcoin and join the network. The digital currency gained popularity among a small community of tech enthusiasts by demonstrating that Bitcoin could function without a central authority or intermediary.
Bitcoin Pizza is another important milestone in the history of Bitcoin, as it marked the first time bitcoins were used as a medium of exchange for a real-world transaction. On May 22, 2010, a programmer named Laszlo Hanyecz made history by using 10,000 bitcoins to buy two pizzas. The transaction became known as "Bitcoin Pizza Day" and is now commemorated every year on May 22.
Who Is Satoshi Nakamoto?
Satoshi Nakamoto's identity remains a mystery. Satoshi could be a person or a group of developers anywhere in the world. The name is of Japanese origin, but Satoshi's mastery of English has led many to believe that he or she is from an English-speaking country.
Did Satoshi invent blockchain technology?
Bitcoin combines a number of existing technologies that have been around for a long time, and this includes blockchain technology. The use of such immutable data structures can be traced back to the early 1990s when Stuart Haber and W. Scott Stornetta proposed a system for time-stamping documents. Much like today's blockchains, it relied on cryptographic techniques to secure data and prevent it from being tampered with. But Bitcoin was revolutionary in solving the double-spending issue that plagued other digital payment systems at the time.
How Many Bitcoins Are There?
The protocol sets the maximum supply of bitcoins at 21 million coins. As of September 2024, just over 94% of these have been mined, but it will take over a hundred years to produce the rest. This is due to periodic events known as Bitcoin halving, which reduce the mining rewards roughly every four years.
What Is Bitcoin Halving?
Bitcoin halving refers to the periodic halving events that reduce the block rewards offered to miners. The next Bitcoin halving is expected to happen in 2028, roughly four years after the last halving, which took place on April 19, 2024.
Bitcoin halving is at the core of its economic model as it ensures that coins are issued at a steady pace, getting increasingly difficult at a predictable rate. Such a controlled rate of monetary inflation is one of the key differences between Bitcoin and traditional fiat currencies, which have an essentially infinite supply.
Is Bitcoin Safe?
One of the main risks associated with Bitcoin is the potential for hacking and theft. For example, in phishing scams, hackers use social engineering techniques to trick users into revealing their login credentials or private keys. Once the hacker has access to the user's account or crypto wallet, they can transfer the victim's bitcoins to their own wallet.
Another way hackers can steal bitcoins is through malware or ransomware attacks. Hackers can infect a user's computer or mobile device with malware that allows them to access the user's Bitcoin wallet. In some cases, hackers can also use ransomware to encrypt a user's files and demand payment in bitcoins to unlock them.
Because bitcoin transactions are irreversible and not insured by any government agency, users must take precautions to protect their bitcoin holdings. This includes using strong passwords, two-factor authentication, and storing bitcoins in a secure crypto wallet that is inaccessible to hackers. It's also important to only download Bitcoin-related software from trusted sources.
Another risk associated with bitcoin is price volatility. The value of bitcoin can fluctuate highly over short periods of time, making it a risky investment for those who are not prepared for the price fluctuations and potential losses.
Closing Thoughts
Bitcoin has come a long way from its humble beginnings, growing into a globally recognized cryptocurrency with numerous use cases. Whether you’re considering using Bitcoin for everyday transactions, investing for the future, or simply interested in the technology behind it, understanding how Bitcoin works is essential.
The future of Bitcoin is still being written, but it’s clear that it’s here to stay. With more companies accepting it and more people using it for investment, Bitcoin continues to revolutionize the way people think about money.
Further Reading
What Is Blockchain and How Does It Work?
What Is Proof of Work (PoW)?
What Is Cryptocurrency Mining and How Does It Work?
Who Is Satoshi Nakamoto?
Disclaimer and Risk Warning: This content is presented to you for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
Bitcoin is the first cryptocurrency to be ever created. It was created in 2008 and launched in 2009 by pseudonymous Satoshi Nakamoto.
Bitcoin runs on blockchain technology, which works like a public ledger. All Bitcoin transactions are verified by a network of nodes spread around the world.
Bitcoin is decentralized, transparent, and open source, making it a popular alternative to traditional financial systems.
What Is Bitcoin?
Bitcoin is essentially digital money. It is the first cryptocurrency ever created, announced in 2008 (and launched in 2009). Bitcoin allows users to send and receive digital money called bitcoins (with a lowercase b, or BTC for short).
Unlike traditional fiat currencies issued by governments (like dollars or euros), Bitcoin is decentralized, meaning no single institution, government, or entity controls it. Transactions are conducted peer-to-peer, removing the need for banks or financial institutions to act as intermediaries.
What makes Bitcoin highly appealing is its inherent resistance to censorship, the impossibility of double-spending funds, and the ability to conduct transactions anytime and anywhere.
How Does Bitcoin Work?
Bitcoin operates on blockchain technology, a public ledger that records all transactions. This means every Bitcoin transaction is transparent, verifiable, and secure.
Imagine blockchain as a chain of blocks, where each block holds information about transactions. Every time someone uses Bitcoin, their transaction is added to the blockchain, and this record is stored across a global network of computers (called nodes).
This distributed network ensures that no single party can manipulate the data. Anyone can participate in the ecosystem by downloading Bitcoin's open-source software.
Decentralization: Bitcoin's blockchain is maintained by a distributed network of computers, ensuring no central authority controls the ledger.
Immutability: Once a transaction is added to the blockchain, it cannot be altered or deleted.
Security: Transactions are encrypted using cryptography, and verifying each block requires solving complex mathematical puzzles, a process known as mining.
BTC transaction example
When Alice sends a BTC transaction to Bob, the blockchain database updates their balances (e.g., removing 1 BTC from Alice and adding 1 BTC to Bob’s balance). It's like Alice is writing on a piece of paper (that everyone can see) that she's giving Bob 1 BTC.
When Bob goes to send the same funds to Carol, the network can easily check if he has enough BTC balance. The blockchain acts like a digital ledger that tracks all Bitcoin transactions and keeps the users’ balances up-to-date.
Since the network is decentralized, all participants (nodes) have an identical copy of the database (blockchain ledger) stored on their devices. So, they have to communicate constantly to synchronize new information.
Bitcoin mining
Bitcoin mining is the process that secures the Bitcoin network and confirms transactions. When a user makes a BTC transaction, they broadcast it to the network, where it is verified by other nodes known as "miners".
In other words, mining refers to the process of verifying transactions and recording them into the blockchain database (ledger). To do so, miners compete to solve a complex math problem, which requires a lot of computing power.
The first miner to solve the puzzle gets to add a new block of transactions to the blockchain. In return, they are rewarded with new bitcoins. The high cost of mining is one of the things that keep the network secure, and the block rewards given to miners are the only source of “fresh” bitcoins. Each block mined adds a certain amount of coins to the total supply.
Proof of Work (PoW)
To maintain the security and integrity of the blockchain, Bitcoin uses a consensus mechanism known as Proof of Work (PoW). It’s an essential part of the mining process described above.
PoW is a mechanism created along with Bitcoin to prevent double-spending in digital payment systems. Besides Bitcoin, many cryptocurrencies use PoW as a method for securing their blockchain network.
When we talk about a “complex math problem” that miners have to solve, we are basically talking about PoW. It was designed to make it expensive to create a block, but cheap to verify that it's valid. Suppose someone tries to cheat with an invalid block. In that case, the network immediately rejects it and the miner is unable to recoup the cost of mining.
What Is Bitcoin Used For?
Bitcoin is primarily used as a digital currency and store of value. It can be used to make purchases online or in person, similar to traditional currencies. More and more businesses are accepting Bitcoin as a payment method. From online retailers to brick-and-mortar stores.
You can also use Bitcoin to send money to anyone across the globe quickly and with relatively low transaction fees compared to traditional banks and remittance services.
As an investment, many people buy Bitcoin, hoping its value will continue to rise. While the price of BTC can be volatile, some investors see it as a way to diversify their portfolios and hedge against inflation in the long term.
Who Created Bitcoin?
Bitcoin was first introduced in 2008 when Satoshi Nakamoto published a whitepaper entitled "Bitcoin: A Peer-to-Peer Electronic Cash System". This paper introduced a new digital currency that would operate on a decentralized system without relying on governments or the banking system.
In January 2009, the Bitcoin protocol was released, and the first bitcoin transaction took place between Satoshi Nakamoto and a programmer named Hal Finney. The transaction involved sending ten bitcoins from Nakamoto to Finney.
After the first transaction, more people began to discover Bitcoin and join the network. The digital currency gained popularity among a small community of tech enthusiasts by demonstrating that Bitcoin could function without a central authority or intermediary.
Bitcoin Pizza is another important milestone in the history of Bitcoin, as it marked the first time bitcoins were used as a medium of exchange for a real-world transaction. On May 22, 2010, a programmer named Laszlo Hanyecz made history by using 10,000 bitcoins to buy two pizzas. The transaction became known as "Bitcoin Pizza Day" and is now commemorated every year on May 22.
Who Is Satoshi Nakamoto?
Satoshi Nakamoto's identity remains a mystery. Satoshi could be a person or a group of developers anywhere in the world. The name is of Japanese origin, but Satoshi's mastery of English has led many to believe that he or she is from an English-speaking country.
Did Satoshi invent blockchain technology?
Bitcoin combines a number of existing technologies that have been around for a long time, and this includes blockchain technology. The use of such immutable data structures can be traced back to the early 1990s when Stuart Haber and W. Scott Stornetta proposed a system for time-stamping documents. Much like today's blockchains, it relied on cryptographic techniques to secure data and prevent it from being tampered with. But Bitcoin was revolutionary in solving the double-spending issue that plagued other digital payment systems at the time.
How Many Bitcoins Are There?
The protocol sets the maximum supply of bitcoins at 21 million coins. As of September 2024, just over 94% of these have been mined, but it will take over a hundred years to produce the rest. This is due to periodic events known as Bitcoin halving, which reduce the mining rewards roughly every four years.
What Is Bitcoin Halving?
Bitcoin halving refers to the periodic halving events that reduce the block rewards offered to miners. The next Bitcoin halving is expected to happen in 2028, roughly four years after the last halving, which took place on April 19, 2024.
Bitcoin halving is at the core of its economic model as it ensures that coins are issued at a steady pace, getting increasingly difficult at a predictable rate. Such a controlled rate of monetary inflation is one of the key differences between Bitcoin and traditional fiat currencies, which have an essentially infinite supply.
Is Bitcoin Safe?
One of the main risks associated with Bitcoin is the potential for hacking and theft. For example, in phishing scams, hackers use social engineering techniques to trick users into revealing their login credentials or private keys. Once the hacker has access to the user's account or crypto wallet, they can transfer the victim's bitcoins to their own wallet.
Another way hackers can steal bitcoins is through malware or ransomware attacks. Hackers can infect a user's computer or mobile device with malware that allows them to access the user's Bitcoin wallet. In some cases, hackers can also use ransomware to encrypt a user's files and demand payment in bitcoins to unlock them.
Because bitcoin transactions are irreversible and not insured by any government agency, users must take precautions to protect their bitcoin holdings. This includes using strong passwords, two-factor authentication, and storing bitcoins in a secure crypto wallet that is inaccessible to hackers. It's also important to only download Bitcoin-related software from trusted sources.
Another risk associated with bitcoin is price volatility. The value of bitcoin can fluctuate highly over short periods of time, making it a risky investment for those who are not prepared for the price fluctuations and potential losses.
Closing Thoughts
Bitcoin has come a long way from its humble beginnings, growing into a globally recognized cryptocurrency with numerous use cases. Whether you’re considering using Bitcoin for everyday transactions, investing for the future, or simply interested in the technology behind it, understanding how Bitcoin works is essential.
The future of Bitcoin is still being written, but it’s clear that it’s here to stay. With more companies accepting it and more people using it for investment, Bitcoin continues to revolutionize the way people think about money.
Further Reading
What Is Blockchain and How Does It Work?
What Is Proof of Work (PoW)?
What Is Cryptocurrency Mining and How Does It Work?
Who Is Satoshi Nakamoto?
Disclaimer and Risk Warning: This content is presented to you for general information and educational purposes only, without representation or warranty of any kind. It should not be construed as financial, legal or other professional advice, nor is it intended to recommend the purchase of any specific product or service. You should seek your own advice from appropriate professional advisors. Where the article is contributed by a third party contributor, please note that those views expressed belong to the third party contributor, and do not necessarily reflect those of Binance Academy. Please read our full disclaimer here for further details. Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance Academy is not liable for any losses you may incur. This material should not be construed as financial, legal or other professional advice. For more information, see our Terms of Use and Risk Warning.
As I said rebound to $96,000 👽
$BTC
$BTC
BTC may consolidate near $94,000 or retest $92,000 support before attempting a rebound to $96,000.
$BTC
#BTCNextMove
Thoughts on this ?💭 🤔
$BTC
#BTCNextMove
Thoughts on this ?💭 🤔
see ya at the gym 😁😂
🚨 Costly Mistake: Someone Paid 8.18 BTC in Fees! 😬
A recent transaction reveals an accidental fee payment of 8.18 $BTC likely intended to be around ($0.66). The transaction appears to be an attempted Thorchain swap of #ETH for #USDT
The transaction includes 8 inputs but seems to have been designed for just 1 input. The additional inputs appear to have been consolidated without updating the change output, resulting in a massive fee overpayment. The output values sum to exactly 2,416 sats less than the first input value, which would have been a sensible fee for an 11.25 sats/vB rate.
The OP_RETURN content, a standard #Thorchain protocol format, indicates an ETH-format address with prior Thorchain activity. This suggests the issue may have originated in Thorchain wallet software or from manual transaction editing.
Possible Causes:
1. Wallet Software Bug: A flaw in Thorchain wallet software might have caused unnecessary inputs to be included without recalculating the change.
2. Manual Error: A poorly executed attempt to edit an existing transaction (e.g., to adjust fees) could have led to this.
3. Improper #UTXO Selection: Additional inputs were likely added without properly balancing the transaction.
Can This Be Recovered?
Unfortunately, recovery is difficult:
Miner Goodwill: If the miner hasn’t claimed the fee, they might refund it. However, this is rare since most miners prioritize processing fees automatically.
Thorchain Support: If it’s a wallet issue, contacting Thorchain developers or wallet providers could help, but compensation isn’t guaranteed.
Community Awareness: Publicizing the error might encourage the involved parties to assist.
This incident highlights how important it is to have robust wallet software and user awareness in the crypto space. If Thorchain or wallet software is at fault, they may need to investigate and implement safeguards to prevent similar issues in the future.
Have you experienced or seen anything similar?
$BTC
A recent transaction reveals an accidental fee payment of 8.18 $BTC likely intended to be around ($0.66). The transaction appears to be an attempted Thorchain swap of #ETH for #USDT
The transaction includes 8 inputs but seems to have been designed for just 1 input. The additional inputs appear to have been consolidated without updating the change output, resulting in a massive fee overpayment. The output values sum to exactly 2,416 sats less than the first input value, which would have been a sensible fee for an 11.25 sats/vB rate.
The OP_RETURN content, a standard #Thorchain protocol format, indicates an ETH-format address with prior Thorchain activity. This suggests the issue may have originated in Thorchain wallet software or from manual transaction editing.
Possible Causes:
1. Wallet Software Bug: A flaw in Thorchain wallet software might have caused unnecessary inputs to be included without recalculating the change.
2. Manual Error: A poorly executed attempt to edit an existing transaction (e.g., to adjust fees) could have led to this.
3. Improper #UTXO Selection: Additional inputs were likely added without properly balancing the transaction.
Can This Be Recovered?
Unfortunately, recovery is difficult:
Miner Goodwill: If the miner hasn’t claimed the fee, they might refund it. However, this is rare since most miners prioritize processing fees automatically.
Thorchain Support: If it’s a wallet issue, contacting Thorchain developers or wallet providers could help, but compensation isn’t guaranteed.
Community Awareness: Publicizing the error might encourage the involved parties to assist.
This incident highlights how important it is to have robust wallet software and user awareness in the crypto space. If Thorchain or wallet software is at fault, they may need to investigate and implement safeguards to prevent similar issues in the future.
Have you experienced or seen anything similar?
$BTC
Damn 😩
🚨 Costly Mistake: Someone Paid 8.18 BTC in Fees! 😬
A recent transaction reveals an accidental fee payment of 8.18 $BTC likely intended to be around ($0.66). The transaction appears to be an attempted Thorchain swap of #ETH for #USDT
The transaction includes 8 inputs but seems to have been designed for just 1 input. The additional inputs appear to have been consolidated without updating the change output, resulting in a massive fee overpayment. The output values sum to exactly 2,416 sats less than the first input value, which would have been a sensible fee for an 11.25 sats/vB rate.
The OP_RETURN content, a standard #Thorchain protocol format, indicates an ETH-format address with prior Thorchain activity. This suggests the issue may have originated in Thorchain wallet software or from manual transaction editing.
Possible Causes:
1. Wallet Software Bug: A flaw in Thorchain wallet software might have caused unnecessary inputs to be included without recalculating the change.
2. Manual Error: A poorly executed attempt to edit an existing transaction (e.g., to adjust fees) could have led to this.
3. Improper #UTXO Selection: Additional inputs were likely added without properly balancing the transaction.
Can This Be Recovered?
Unfortunately, recovery is difficult:
Miner Goodwill: If the miner hasn’t claimed the fee, they might refund it. However, this is rare since most miners prioritize processing fees automatically.
Thorchain Support: If it’s a wallet issue, contacting Thorchain developers or wallet providers could help, but compensation isn’t guaranteed.
Community Awareness: Publicizing the error might encourage the involved parties to assist.
This incident highlights how important it is to have robust wallet software and user awareness in the crypto space. If Thorchain or wallet software is at fault, they may need to investigate and implement safeguards to prevent similar issues in the future.
Have you experienced or seen anything similar?
$BTC
A recent transaction reveals an accidental fee payment of 8.18 $BTC likely intended to be around ($0.66). The transaction appears to be an attempted Thorchain swap of #ETH for #USDT
The transaction includes 8 inputs but seems to have been designed for just 1 input. The additional inputs appear to have been consolidated without updating the change output, resulting in a massive fee overpayment. The output values sum to exactly 2,416 sats less than the first input value, which would have been a sensible fee for an 11.25 sats/vB rate.
The OP_RETURN content, a standard #Thorchain protocol format, indicates an ETH-format address with prior Thorchain activity. This suggests the issue may have originated in Thorchain wallet software or from manual transaction editing.
Possible Causes:
1. Wallet Software Bug: A flaw in Thorchain wallet software might have caused unnecessary inputs to be included without recalculating the change.
2. Manual Error: A poorly executed attempt to edit an existing transaction (e.g., to adjust fees) could have led to this.
3. Improper #UTXO Selection: Additional inputs were likely added without properly balancing the transaction.
Can This Be Recovered?
Unfortunately, recovery is difficult:
Miner Goodwill: If the miner hasn’t claimed the fee, they might refund it. However, this is rare since most miners prioritize processing fees automatically.
Thorchain Support: If it’s a wallet issue, contacting Thorchain developers or wallet providers could help, but compensation isn’t guaranteed.
Community Awareness: Publicizing the error might encourage the involved parties to assist.
This incident highlights how important it is to have robust wallet software and user awareness in the crypto space. If Thorchain or wallet software is at fault, they may need to investigate and implement safeguards to prevent similar issues in the future.
Have you experienced or seen anything similar?
$BTC
BTC may consolidate near $94,000 or retest $92,000 support before attempting a rebound to $96,000.
$BTC
#BTCNextMove
Thoughts on this ?💭 🤔
$BTC
#BTCNextMove
Thoughts on this ?💭 🤔
Buy
64%
Sell
36%
396 votos • Votación cerrada
BNB at $674.25, down 3.75%. Short-term bearish trend with resistance at $705 and support at $648. $BNB
#MarketCorrectionBuyOrHODL #WeAreAllSatoshi #buy
#MarketCorrectionBuyOrHODL #WeAreAllSatoshi #buy
BTC is at $102,124, down 2.05%. Watch for resistance at $105K and support around $98.8K. Stay alert! $BTC
cool
LIVE
Binance Square Official
--
Binance Square is pleased to introduce the launch of a new campaign on the Task Center on the Binance App. Users can complete simple tasks daily to unlock a share of $5,000 in USDC token rewards and earn Binance Points.
Activity Period: 2024-12-19 06:00 (UTC) to 2024-12-25 06:00 (UTC)
All eligible users can complete each of the following tasks once every day during the Activity Period.
Tasks:
1. Check in to Binance Square daily.*
2. Create a post with at least 100 characters using the limited-time hashtag (e.g., $BTC) OR selected trading pair.
3. For new Square users who have never posted on Square before the Activity Period, their first post will count as double (i.e., 2 participations).
Notes:
Limited-time hashtag and selected trading pair will be refreshed daily at 06:00 (UTC) and will run for 24 hours.
Completion of check-in AND creation of post (either with the hashtag OR the trading pair) counts as 1 participation. Users will need to complete both tasks within the 24-hour window for it to be counted as a valid entry.
Reward per Eligible Participant = Number of Tasks Completed / Total Number of Tasks Completed by All Participants * Reward Pool, capped at $10 per participant.
Terms & Conditions
This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for their entries to be counted as valid.
Users will receive a share of the reward pool and Binance Points upon completion of tasks and will be able to redeem their voucher and Points via Profile > Rewards Hub.
Token vouchers will be distributed within 21 working days after the campaign ends and expire 14 days after distribution. Points will expire on the last day of the same month a year later on a first-in, first-out basis.
Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards.
Activity Period: 2024-12-19 06:00 (UTC) to 2024-12-25 06:00 (UTC)
All eligible users can complete each of the following tasks once every day during the Activity Period.
Tasks:
1. Check in to Binance Square daily.*
2. Create a post with at least 100 characters using the limited-time hashtag (e.g., $BTC) OR selected trading pair.
3. For new Square users who have never posted on Square before the Activity Period, their first post will count as double (i.e., 2 participations).
Notes:
Limited-time hashtag and selected trading pair will be refreshed daily at 06:00 (UTC) and will run for 24 hours.
Completion of check-in AND creation of post (either with the hashtag OR the trading pair) counts as 1 participation. Users will need to complete both tasks within the 24-hour window for it to be counted as a valid entry.
Reward per Eligible Participant = Number of Tasks Completed / Total Number of Tasks Completed by All Participants * Reward Pool, capped at $10 per participant.
Terms & Conditions
This Activity may not be available in your region. Eligible users must be logged in to their verified Binance accounts whilst completing tasks during the Activity Period in order for their entries to be counted as valid.
Users will receive a share of the reward pool and Binance Points upon completion of tasks and will be able to redeem their voucher and Points via Profile > Rewards Hub.
Token vouchers will be distributed within 21 working days after the campaign ends and expire 14 days after distribution. Points will expire on the last day of the same month a year later on a first-in, first-out basis.
Illegally bulk registered accounts or sub-accounts shall not be eligible to participate or receive any rewards.
#RideTheKaiaWave
@Kaia Chain
Mini dApps on LINE revolutionizing daily interactions—like a decentralized ride-sharing platform where users can book rides and pay in $KAIA, fostering peer-to-peer connections. Or a gamified carbon footprint tracker rewarding users for eco-friendly actions, seamlessly integrating sustainability with Web3. Picture a blockchain-based education hub, offering courses and certifications directly on LINE, with smart contracts verifying achievements. There could also be a loyalty rewards system for LINE merchants, allowing users to earn and redeem points in crypto. These innovations would make Web3 a natural extension of everyday life.
$KAIA
@Kaia Chain
Mini dApps on LINE revolutionizing daily interactions—like a decentralized ride-sharing platform where users can book rides and pay in $KAIA, fostering peer-to-peer connections. Or a gamified carbon footprint tracker rewarding users for eco-friendly actions, seamlessly integrating sustainability with Web3. Picture a blockchain-based education hub, offering courses and certifications directly on LINE, with smart contracts verifying achievements. There could also be a loyalty rewards system for LINE merchants, allowing users to earn and redeem points in crypto. These innovations would make Web3 a natural extension of everyday life.
$KAIA
Mini DApps can bring creators and developers closer by offering a platform for collaboration. They could instant collaboration on creative projects like music or art. With real-time editing, token rewards, an open, fair, and community-driven creative space for content creator. Also giving open invite to developers to come and test their mini Dapps
#RideTheKaiaWave @Kaia Chain
#RideTheKaiaWave @Kaia Chain
cold
Hold or close, I don't know what to do
best of luck
Se eliminó el contenido citado
really sad to see this
Im done 👍 , bye binance
#MyFirstSquarePost New to Binance Square, thrilled to share and connect with everyone here!
LIVE
Binance South Asia
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Unlock Up to 50 USDT in Rewards!
Have you started earning from the exclusive “Share to Win” campaign on Binance Square? Verified users can earn over 50 USDT in rewards by simply sharing Binance Square links with friends. Both you and your friends can win USDT Red Packets! Earn even more when you share with friends who are new to Binance!
Join Now! https://www.binance.com/en/square/share-to-win
Activity Period: 2024-10-16 9:00 (UTC) to 2024-11-06 9:00 (UTC)
How to Participate:
Activity 1: Share Binance Square Links
1. Share Links: Log in to your Binance account and share any Binance Square link with friends.
2. Unlock Rewards: When your friends open the link, both of you can win Crypto Red Packets worth up to 1 USDT each.
3. Maximize Your Earnings: You can claim up to 50 Red Packets (50 USDT) during the campaign!
Activity 2: New User Bonus
1. Sign Up: New users who sign up via the Activity page can earn extra rewards.
2. Complete Tasks: Finish simple tasks to earn up to 2.5 USDT in rewards.
Terms & Conditions
This Activity may not be available in your region. The rewards for both Activities are distributed on a first come, first-served basis, with limited redemptions available.Users may qualify for rewards from both Activities where applicable. The rewards for both Activities are not mutually exclusive.There will be caps imposed on the amount of rewards available to eligible users per country/region.Users must be logged in to their verified Binance accounts while completing tasks during the Activity Period in order to qualify for any rewards from Activity 1 and/or Activity 2.Activity 1:Users may only receive a maximum of one Crypto Red Packet reward from each unique referral. Please note that users may redeem multiple Crypto Red Packet rewards from different unique referrals within the same day.Crypto Red Packets will be distributed to eligible users immediately upon meeting the necessary requirement(s). Users should redeem the Crypto Red Packets to their Funding Wallets via the Binance App before the Activity ends. Please note that all unclaimed Crypto Red Packets will be forfeited after the Activity ends. Activity 2:Only new users who register with Binance via this activity page will be eligible to participate in Activity 2. Rewards for Task 1 will be distributed in the form of Crypto Red Packets to eligible users immediately upon meeting the necessary requirement(s). Users should redeem the Crypto Red Packets to their Funding Wallets via the Binance App before the Activity ends. Please note that all unclaimed Crypto Red Packets will be forfeited after the Activity ends. Rewards for Task 2 will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Learn how to redeem a voucher.Illegally bulk-registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.
Join Now! https://www.binance.com/en/square/share-to-win
Activity Period: 2024-10-16 9:00 (UTC) to 2024-11-06 9:00 (UTC)
How to Participate:
Activity 1: Share Binance Square Links
1. Share Links: Log in to your Binance account and share any Binance Square link with friends.
2. Unlock Rewards: When your friends open the link, both of you can win Crypto Red Packets worth up to 1 USDT each.
3. Maximize Your Earnings: You can claim up to 50 Red Packets (50 USDT) during the campaign!
Activity 2: New User Bonus
1. Sign Up: New users who sign up via the Activity page can earn extra rewards.
2. Complete Tasks: Finish simple tasks to earn up to 2.5 USDT in rewards.
Terms & Conditions
This Activity may not be available in your region. The rewards for both Activities are distributed on a first come, first-served basis, with limited redemptions available.Users may qualify for rewards from both Activities where applicable. The rewards for both Activities are not mutually exclusive.There will be caps imposed on the amount of rewards available to eligible users per country/region.Users must be logged in to their verified Binance accounts while completing tasks during the Activity Period in order to qualify for any rewards from Activity 1 and/or Activity 2.Activity 1:Users may only receive a maximum of one Crypto Red Packet reward from each unique referral. Please note that users may redeem multiple Crypto Red Packet rewards from different unique referrals within the same day.Crypto Red Packets will be distributed to eligible users immediately upon meeting the necessary requirement(s). Users should redeem the Crypto Red Packets to their Funding Wallets via the Binance App before the Activity ends. Please note that all unclaimed Crypto Red Packets will be forfeited after the Activity ends. Activity 2:Only new users who register with Binance via this activity page will be eligible to participate in Activity 2. Rewards for Task 1 will be distributed in the form of Crypto Red Packets to eligible users immediately upon meeting the necessary requirement(s). Users should redeem the Crypto Red Packets to their Funding Wallets via the Binance App before the Activity ends. Please note that all unclaimed Crypto Red Packets will be forfeited after the Activity ends. Rewards for Task 2 will be distributed in the form of token vouchers to eligible users within 14 working days after the Activity ends. Users will be able to log in and redeem their voucher rewards via Profile > Rewards Hub. Learn how to redeem a voucher.Illegally bulk-registered accounts or sub-accounts shall not be eligible to participate or receive any rewards. Binance reserves the right to cancel a user’s eligibility in this activity if the account is involved in any behavior that breaches the Binance Square Community Management Guidelines or Binance Square Community Platform Terms and Conditions.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating or suspending this activity, the eligibility terms and criteria, the selection and number of winners, and the timing of any act to be done, and all participants shall be bound by these amendments.Binance reserves the right of final interpretation of this activity.There may be discrepancies in the translated version of this original article in English. Please reference this original version for the latest or most accurate information where any discrepancies may arise.