NFT News Official TheBitTimes.com

Peter Schiff, the Chief Market Strategist at Euro Pacific Asset Management, is one of the most respected people in finance. He has been right on so many things in the past, including the pace of interest rates, US government debt, and the ongoing risks in the market. I share most of his concerns. One area I disagree with Schiff is on his  Bitcoin outlook. For a long time, Schiff has advocated against Bitcoin, which he believes that has no value. Instead, Schiff, who also runs a gold company called Schiff Gold, has advocated for gold. Finally @novogratz got something right about #Bitcoin. He admitted that it's not bought, but sold. No one needs Bitcoin. So people only buy it after someone else talks them into doing so. Then once they buy, they immediately try to convince others to buy too. It's like a cult. — Peter Schiff (@PeterSchiff) October 18, 2023 Gold has done well over years. It has moved from $35 in 1970s to almost $2,000 today and he ex...

The potential for a Bitcoin Exchange-Trust Fund ( ETF ) getting the green light this year took a hit with revelations that the U.S. Securities and Exchange Commission ( SEC ) might abstain from such endorsements. In a recent post, Bloomberg’s seasoned analyst, James Seffyat, shed light on this. He emphasized that recent SEC activities hint at no forthcoming ETF approvals 2023. Particularly concerning to observers was the SEC’s decision to bypass pending second deadlines and postpone the ARK 21Shares ETF filing. This move, Seffyat speculates, signals the likelihood of the SEC stalling all forthcoming filings. Major ETF filings from BlackRock, Bitwise, VanEck, Invesco, Wisdomtree, Fidelity, and Valkyrie are slated for October deliberation. Pondering the reasoning behind the SEC ’s early delay, Seffyat posits two possibilities. The impending U.S. Federal Government shutdown might prompt the SEC to clear its slate. With an anticipated furlough affecting 90% of the SE...

Bitcoin Mining Network Hits New Record Hash Rate According to Bitcoin mining data tracking website MiningPoolStats, Bitcoin’s hash rate hit a new record high earlier this week. According to the website, the network reached the milestone of computing three hundred quintillion (300,000,000,000,000,000,000) hashes per second (300 EH/s). Bitcoin’s hash rate is viewed as a proxy of the processing power allocated to securing the Bitcoin network by its army of miners. A rising hash rate is viewed as a sign of network adoption, as well as that the network is growing more secure. The achievement was separately confirmed by Bitcoin mining company Braiins. They defined the real-time network hash rate as “the estimated total network hash rate based on API-reported hash rate values for all mining pools and estimated hash rate values based on blocks found for miners and pools who are not reporting their real-time hash rate”. One Twitter user responded with ...