Bitcoin
HRF Grants 10 BTC To Worldwide Projects Advancing Bitcoin
Published
4 weeks agoon
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adminToday, the Human Rights Foundation (HRF) announced its most recent round of Bitcoin Development Fund grants at the Oslo Freedom Forum, per a press release sent to Bitcoin Magazine.
10 bitcoin, currently worth $704,740 at the time of writing, is being granted across 13 different projects around the world. The funds will be used to advance education for people living under authoritarian regimes, privacy and Lightning Network development, decentralized communications, and providing nonprofits and human rights groups with easier onramps to financial freedom tools, according to the release.
The HRF’s main areas of focus with this round of grants is countries and regions in Latin America, the Middle East, Asia, and Africa.
This announcement comes only a few months after the HRF’s last round of grants in March, where it donated $500,000 to 14 worldwide Bitcoin projects. While the HRF did not disclose exactly how much money each project is receiving, the following 13 projects are the recipients of today’s round of grants worth 10 BTC in total:
- RoboSats, a Tor-only, KYC-free platform enabling the exchange of Bitcoin for national currencies in a peer-to-peer fashion via the Lightning Network. As an open-source and privacy-first project, Robosats is a significant platform for individuals living under authoritarian regimes. Funding will support its ongoing development (including Android app development), enhancing the RoboSats node, and boosting its social media presence.
- Bitshala Internship Program, a grassroots, Bitcoin educational initiative from India offering mentorship, resources, and opportunities to aspiring Bitcoin developers. Amid India’s increasing financial repression, Bitcoin development is crucial for helping citizens remain financially free. The program enables students to contribute to vital free and open-source Bitcoin projects such as Bitcoin Core, coin selection, and more. Funding will support these internships and help Bitshala establish a hackerspace and community center in Bangalore inspired by Bitcoin Park and Chaincode Labs.
- Building Bridges to Bitcoin (BBB), an educational initiative in the Middle East and North Africa region by Ideas Beyond Borders (IBB). By providing educational material in Arabic, the project empowers local youth to combat tyranny with Bitcoin, secure their financial autonomy, protect their human rights, and transform their region. Funding will support the translation, publishing of educational resources, and management costs.
- Flash, a Nostr-enabled Lightning wallet designed to connect island economies in the Caribbean with Bitcoin. Founded by Dread, Flash aims to provide this historically-underbanked and politically-repressed region with access to global online marketplaces and physical Bitcoin on and off ramps. Funding will support Flash’s development, educational materials, local businesses onboarding, and a Caribbean-wide adoption campaign.
- Bitcoin Seoul, a Bitcoin conference in Seoul, Korea, dedicated to broadening the understanding and adoption of Bitcoin. The event will convene industry experts, local policymakers, diverse speakers, and attendees to explore Bitcoin from both general and technical perspectives. Funding will support open-source initiatives as well as help create spaces for North Korean defectors to meet Bitcoin developers to collaborate on human rights work in North Korea.
- Margot Paez’s research examining the relationship between Bitcoin mining, human rights, and sovereignty. Her study will explore how Bitcoin mining can reduce corruption and waste in energy systems, and expand power and electricity for people who lack it, given that without electric power, people cannot easily realize civil liberties. She will also examine how certain trends in Bitcoin mining can lead to overall network decentralization, making the software a more censorship-resistant tool for the world’s most vulnerable populations. This funding will help Margot’s graduate research.
- Validating Lightning Signer (VLS), an open-source project enhancing the Lightning Network’s security by separating private keys from a Lightning Node. VLS adds an extra layer of protection for Bitcoin users and lowers barriers to running a Lightning node. This enables more users to enforce their own financial autonomy. The allocated funding will be used to hire a full-time Rust developer to fix bugs and address feature requests.
- OpenSats, a 501(c)(3) public charity funding free and open-source projects, education, and research. With most OpenSats donations going directly and 100% to open-source contributors, this funding will support OpenSats core operational expenses, and will allow them to scale their operations and grow their team.
- The Core, a non-profit Bitcoin educational platform in Kenya founded by Felix Mukungu. The East African initiative aims to increase the financial freedom of Kenyans and others in the wider Great Lakes region through education, entertainment, and engaging content. Funding will support in-person meetups, course creation, salaries, and rewarding students upon course completion.
- Terry Yiu, a software engineer working on three Nostr-related projects: the Nostr SDK, helping developers create Nostr-based apps for Apple devices; Comingle, a conference app; and Damus, a decentralized social platform. The grant will support Terry’s continued development of these projects, helping strengthen freedom of speech and censorship-resistant communications for people worldwide.
- Paulo Sacramento, a Bitcoin-focused UX designer and researcher. He is studying the successful adoption of Brazil’s Pix digital payment system to derive lessons for broader Bitcoin adoption, especially for unbanked and underprivileged communities. There are big lessons here when it comes to the choice of citizens between CBDC-like platforms and open-source options like Bitcoin. The grant will help serve as support for the research endeavors carried out over the last two years.
- Blockchain Commons, a nonprofit supporting the continued development of FROST, a next-generation security protocol to improve the resilience and security of private keys. This is a crucial building block for allowing users to control their identities and Bitcoin in a self-sovereign way. For example, FROST can help make “multi-sig” solutions (appealing to human rights activists) much more flexible and robust. Funding will support the organization of two FROST roundtable meetings among members of the FROST ecosystem.
- Summer of Bitcoin, a global internship program enabling university students to contribute to Bitcoin open-source development and design. Students gain valuable experience and potential career opportunities while earning Bitcoin stipends. This grant will support student stipends, mentor compensation, and program operations. This program attracts thousands of applications from more than 50 countries each year, and helps promising individuals from all over, especially from authoritarian regimes, find roles in the Bitcoin community.
The HRF is a nonpartisan, nonprofit 501(c)(3) organization that promotes and protects human rights globally, with a focus on closed societies. The HRF continues to raise support for the Bitcoin Development Fund, and interested donors can find more info on how to donate bitcoin here. Applications for grant support by the HRF can be submitted here.
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Here Are Price Targets for Bitcoin, Solana, and Render, According to Analyst Jason Pizzino
Published
12 hours agoon
July 5, 2024By
adminA closely followed crypto strategist and trader is revealing his price targets for Bitcoin (BTC) and two altcoin projects.
In a new strategy session, analyst Jason Pizzino tells his 329,000 YouTube subscribers that based on the average true range (ATR) indicator Bitcoin could soon break through key price target resistance levels.
The ATR indicator measures volatility by showing an asset’s trading range over a specified period.
“You can see the dying off here of the average true range of the bar. Previous cycles, look what happened. Average true range picks up, dies off, dies off, dies off, and then you start to get a higher low form and by that stage, you’re really a decent way from the stealth zone.”
According to the analyst, Bitcoin has historically made “stealth moves” to the upside when the ATR indicator reaches a local low and price continues to consolidate or puts in higher lows.
The analyst’s key price targets to the upside include $63,300 on the daily chart, $65,200 on the weekly chart and $72,000 on the monthly chart.
Bitcoin is trading for $60,176 at time of writing, down nearly 3% in the last 24 hours.
Next up, the analyst believes that Ethereum (ETH) competitor Solana (SOL) will move toward its current cycle top.
“With the higher lows and now trying to push higher above the 50% at $137. Next target on the weekly chart is $165. And then we go towards $190, $210. So $190 is above these tops. Then $210 is the current top for Solana. So it’s on its way. It hasn’t got those longer-term time frames confirmed yet, and those longer terms are the weeklies.”
Solana is trading for $141 at time of writing, down more than 8% in the last 24 hours.
Lastly, the analyst predicts that Render (RNDR), the graphics processing unit (GPU) rendering blockchain, will reclaim a double-digit value.
“Now, what do we need to see until it gets there? Obviously higher lows, and that would happen throughout this next couple of months, maybe even up to four months as we get to that [US presidential] election… If I keep seeing higher lows, it’s not going to stop me from getting into the market if it breaks out through that period.”
Render is trading for $7.04 at time of writing, down 7.7% in the last 24 hours.
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Bitcoin
Bitcoin price plunges below $55k as Mt. Gox announces repayments
Published
12 hours agoon
July 5, 2024By
adminThe price of Bitcoin has continued its descending movement, sliding under the $55,000 threshold, returning back to levels last seen in February.
Bitcoin’s (BTC) sell-off has intensified amid reports that the collapsed crypto exchange Mt. Gox moved over 47,000 BTC (worth around $2.6 billion) to a new wallet ahead of its $9 billion payout. At the time of writing, the price of Bitcoin is $54,561, a mark last witnessed in February, when the largest by market capitalization cryptocurrency was surging to a new all-time high.
Following the transaction, Mt. Gox trustee officially confirmed on Jul. 5 during Friday’s Asian trading hours that the collapsed exchange “made repayments in Bitcoin and Bitcoin Cash to some of the rehabilitation creditors.” The trustee didn’t specify though the amount of BTCs sent to creditors.
The crypto market has faced significant pressure recently, affecting both investor sentiment and miner operations following the April halving, which reduced mining rewards from 6.25 BTC to 3.125 BTC. At Bitcoin’s current price, only five ASIC rigs from Avalon and Antminer remain profitable, according to f2pool’s X post.
The rapid drop below $55,000 has pressured speculators, resulting in $682 million in liquidations of both long and short positions across multiple exchanges, according to Coinglass.
Over the past 24 hours, more than 235,000 traders were liquidated, with the largest single liquidation order on Binance’s ETH/USDT trading pair valued at over $18.4 million. According to CoinGecko, the total crypto market capitalization dropped by over 8% to $2 trillion, increasing sell-offs among speculators.
As crypto.news reported earlier, TRON founder Justin Sun offered to help the industry by teasing his “willingness” to buy confiscated Bitcoins from the German government over-the-counter. It’s unclear when these negotiations will begin, but with the recent movement of Bitcoins to centralized exchanges from Germany-labeled addresses, Mt. Gox’s repayments have seemingly become the primary concern among traders.
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Bitcoin
Bitcoin’s quick dip below $57k forces beginners to capitulate, CryptoQuant says
Published
18 hours agoon
July 5, 2024By
adminAs Bitcoin plunged below the $57,000 mark, concerns surged among investors about potential market volatility and its impact on miners.
On Thursday morning, speculators continued their selling pressure, forcing Bitcoin (BTC) to dip below $57,000 for the first time since February. As of press time, Bitcoin rebounded above the $57,000 mark, but its previous quick plunge might signal weakness, potentially impacting sentiment among retail traders.
Blockchain research firm CryptoQuant noted that crypto beginners — who bought BTC over the past six to three months — have started moving their coins amid the plunge and “increasing selling pressure.” According to the platform’s data, approximately $2.4 billion worth of BTC controlled by crypto beginners began moving, likely signaling their intention to sell at current market prices.
The market turbulence might also be worsened by miners, who are facing a rapid drop in hashprice, a metric representing miner revenue per terahash. Crypto mining analytics firm Hashrate Index noted that the hashprice mark amid Bitcoin’s plunge is “scratching its all-time low,” a level last seen during the bear market. As of press time, hashprice is at $44.69, potentially pushing some miners to liquidate their reserves to sustain operational expenses.
In a May exclusive interview with crypto.news, CryptoQuant head of research Julio Moreno noted that the market is “likely to see a miner capitulation if prices don’t recover significantly during the summer,” adding that the hashprice (average miner revenue per hash) is repeatedly “making new lows” following the latest halving. At the time of writing, Bitcoin is trading at $57,336, according to data from crypto.news.
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