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Cryptocurrencies: Elon Musk Changes Twitter DP to ‘Triggered’ Crypto Woman

(Asian News Hub) – Elon Musk has changed his Twitter display picture (DP), otherwise known as a profile photo, a character from a Japanese site wearing a Bitcoin dress and posed on the foreground of a $BTC logo.

The character has “Triggered” eyes. Currently, there are no explanations as to why the CEO did it. Still, speculations point out to Musk targeting Bitcoin fans that blame his tweets for the leading cryptocurrency plummet.

Musk’s Tweets Causes Bitcoin Drop

Recently, Bitcoin has dropped in market price and performance despite seeing a rise in its trends, particularly as it is on the road to recovery, following the drastic changes it suffered in the past months. The drop in performance of the leading cryptocurrency was due to Elon Musk’s tweet about it, saying that Tesla has dropped Bitcoin use due to coal energy dependence.

Tesla is known to be a clean energy company, and that Musk is also an advocate for the environment, so dropping Bitcoin was a way to adhere to their beliefs and not something personal against Bitcoin. However, recent developments have pushed Bitcoin purists to think of Musk as the villain, especially with his increased support for Dogecoin.

What Does This Mean?

Musk is always fond of trolling people on the internet, and doing things without explanation even though people would either go crazy about it or have them develop theories as to his next move. However, one speculation is that the CEO was about the “triggered” Bitcoin fans who were affected by the price drop in the market, as brought by his latest tweet.

The CEO did not mean for the prices to go down, but his meme photo tweet still had a massive effect on the cryptocurrency, and in doing so, has triggered the downfall of Bitcoin in the market today.

Currently, Wazirx still lists Bitcoin as the top and leading cryptocurrency, with a $37,500 market price and a 4.33 percent downward trend in the past 24 hours.

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Bitcoin to get major facelift after four years in November

The upgrade would take about five months as it requires a lot of testing before being fully integrated into the system.

(Asian News Hub) – Bitcoin’s new upgrade ‘Taproot’ has received overwhelming support from miners around the world and is set to take effect from November, CNBC reported.

The new upgrade would mean greater transaction privacy and efficiency which would enable smart contracts, a feature of the blockchain technology which eliminates the need for middlemen.

Taproot is the first and the most anticipated update since the last one ‘Segregated Witness (SegWit)’ in 2017. While the main focus of SegWit was scaling the Bitcoin protocol, Taproot will equip Bitcoin with a new signature scheme known as Schnorr signatures.

Currently, Bitcoin uses the “Elliptic Curve Digital Signature Algorithm,” which is created from the private key that secures the Bitcoin wallet and ensures that it is only used by its owner.

On the other hand, Taproot will switch to Schnorr signatures which is multi-signature transactions unreadable, the report said citing Alejandro De La Torre, Vice President at Hong Kong-headquartered major mining pool Poolin.

“You can kind of hide who you are a little bit better, which is good,”  Brandon Arvanaghi, previously a security engineer at crypto exchange Gemini told the publication.

This would allow greater anonymity for an individual bitcoin address on the public blockchain, but it will make simple transactions indistinguishable from those that are more complex and comprised of multiple signatures, the report added.

The new upgrade will also allow smart contracts cheaper along with taking up lesser space on the blockchain.

“The most important thing for Taproot is…smart contracts,” said Fred Thiel, CEO of cryptocurrency mining specialist Marathon Digital Holdings.

“It’s already the primary driver of innovation on the ethereum network. Smart contracts essentially give you the opportunity to really build applications and businesses on the blockchain.”

The upgrade would take about five months as it requires a lot of testing before being fully integrated into the system.

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Gondola service resumes partially in Gulmarg

Services resumed on trial basis, situation being monitored closely: Dir Tourism Itoo

Jahangir Sofi

(Asian News Hub) – With the graph of Covid-19 positive cases in the valley showing the decreasing trend, the Tourism department Kashmir, has partially resumed the Gulmarg Gondola service on trial basis.

Director Tourism Kashmir, Dr. G. N. Itoo said that the Gondola services have been partially resumed as the Covid situation is evolving which is being monitored closely.

“The Gondola services will be limited only as it has been started on a trial basis. If there are more modalities to be discussed with respect to Covid situation that will be also taken care of,” Itoo said.

“We are ensuring everything is being taken care of from our side, and whenever the Government takes a call, we should be ready to welcome tourists,” he said.

After the tourism was opened in June 2020, the tourism arrival in the valley had gained a reasonably good momentum and the hoteliers and houseboat owners had pre bookings till May end of this year.

However, with the onset of the second wave of Covid-19 which also engulfed the valley along with the other parts of the country, a complete Corona lockdown was imposed in Jammu and Kashmir, resulting in the cancellation of the all the pre bookings giving a deserted look to hotels and houseboats in the valley.

KNO

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Billionaire Elon Musk trolls Bitcoin again, Markets slump

(Asian News Hub) – Elon Musk, the billionaire entrepreneur is back at what he does the best, tweeting about Bitcoin and trolling the top cryptocurrency despite knowing his tweets often impact the market. 

Musk today shared a meme which many interpreted as a hint about a possible breakup with the top cryptocurrency.

The speculation about Tesla potentially selling its $1.5 billion bitcoin purchase has been rife ever since Musk announced the electric car maker has decided against accepting Bitcoin as a payment for its cars, just weeks after opening the Bitcoin payment option for US customers.

Ever since then, Musk has gone on a wild Bitcoin trolling spree which many believed led to panic selling among amateur traders and resulted in a market crash.

The Bitcoin price crash in May left many speculating whether Tesla has dumped its share, but Musk tweeted that the company has ‘diamond hands’ a popular slang in crypto-verse that indicates holding on to one’s Bitcoin even during market turmoil. But, his latest tweet has brought back the Tesla Bitcoin dump discussion again.

Bitcoin Price Slide Below $38K

Bitcoin price reacted to Elon Musk’s tweet today and slumped by 3% over the past hour after his tweet. The price of Bitcoin slid below $38K for a brief period right after Musk’s tweet. Musk even followed his meme tweet with another meme trolling about the price crash.

After three weeks of consolidation under $40K after registering a new 3-month low in the second week of May, Bitcoin was looking well set on its path to recovery.

The price broke out of an equilateral triangle on the 1-day chart breaking $38.5K key resistance. The on-chain fundamentals had started to climb back to pre-crash levels and miners had started accumulating indicating a possible lift-off above $40K.

A recent report suggested Musk’s reputation had taken a hit post his recent attack on Bitcoin and its community.

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