Bitcoin tracks $39K ahead of Europe vote on proof-of-work legality
Bitcoin price action stabilizes on the first day of a week, which should see multiple tests of traders' resolve. Bitcoin (BTC) stayed steady at $39,000 into March 14's Wall Street close as stocks took the opportunity to reclaim some losses.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBulls need "miracle" $40,600 reclaimData from Cointelegraph Markets Pro and TradingView showed BTC/USD unmoved at the opening bell on March 14.The pair had rebounded from a last-minute comedown into March 13's weekly close to avoid a deeper retracement.The week was set to bring many potential....
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The people of the United Kingdom have historically voted to leave the European Union making it the first state in the block to do so. I believe the vote to leave was more about getting out from under the dictatorship of the unelected bureaucrats in Brussels who are lording their laws across the continent with little regard for its citizens than a separation from the countries of Europe themselves. This vote has the potential to rock the European Union at its core with speculation now mounting as to which country or countries will be next. Brexit fever has spread across Europe with Italy,....
“It is crucial for me that the MiCA report is not misinterpreted as a de facto Bitcoin ban,” said Stefan Berger. The parliament of the European Union is delaying a vote on a framework aimed at regulating cryptocurrencies amid concerns over proof-of-work mining.In a Friday Twitter thread, European Parliament economics committee member Stefan Berger said the government body had canceled a vote on the Markets in Crypto Assets, or MiCA, framework scheduled to take place on Monday. Berger said parliament needed to clarify “the question of proof-of-work” in discussions with stakeholders to....
To understand Bitcoin, people need to understand Proof-Of-Work. It might be the most crucial aspect of the network. Proof-Of-Work provides security, resolves the issuance problem, and guarantees “a ledger of ownership and transactions that is beyond dispute.” And that’s just the beginning. How does Proof-Of-Work accomplish all that? That’s what this section is all about. […]
A text threatening to prohibit cryptocurrencies relying on energy-intensive proof-of-work mining has been deleted from the draft legislation aimed at regulating the European crypto space. The move comes after the controversial provision sparked objections from the crypto community. MiCA Proposal Drops Ban on Proof-of-Work Coins Wording that could have banned cryptocurrencies with proof-of-work (PoW) mining, like bitcoin, is missing in the latest version of EU’s Markets in Crypto Assets (MiCA) framework. The European Parliament (EP) was expected to approve the proposal on the last....
It is evident that proof-of-work is a pure representation of free-market forces as opposed to the control of proof-of-stake.