Bitcoin is in line to leave its tight range behind in the coming days — even retaking all-time highs and pushing into price discovery after several months. Key points: Bitcoin is convincing traders that an upside breakout is around the corner, with all-time highs in sight. One target demands $116,000 next week, moving BTC/USD firmly out of its narrow range. Read more
Saifedean Ammous says he would “throw in a few sats” to fund a developer dedicated to making Bitcoin spam more costly. Economist and author of The Bitcoin Standard, Saifedean Ammous, has weighed in on the ongoing debate over spam inscriptions on the Bitcoin network, suggesting he would “throw in a few sats” to fund a full-time developer focused on making Bitcoin spamming more difficult and expensive. Ammous made the remarks in response to a thread initiated by the pseudonymous developer GrassFedBitcoin, who called for Bitcoin Core to merge pull request #28408, which would enable node operators to filter inscriptions more easily. According to GrassFedBitcoin, the lack of inscription filtering tools contributes to unnecessary blockchain bloat and undermines Bitcoin (BTC)’s role as a monetary protocol. Read more
A retired fabricator was tricked into entering his seed phrase on a fake Coinbase site, losing a crypto portfolio worth $2 million. Retired artist Ed Suman lost over $2 million in cryptocurrency earlier this year after falling victim to a scam involving someone posing as a Coinbase support representative. Suman, 67, spent nearly two decades as a fabricator in the art world, helping build high-profile works such as Jeff Koons’ Balloon Dog sculptures, according to a May 17 report by Bloomberg. After retiring, he turned to cryptocurrency investing, eventually accumulating 17.5 Bitcoin (BTC) and 225 Ether (ETH) — a portfolio that comprised most of his retirement savings. Read more