LATEST: Bitcoin Gaining Ground Over Gold, Could Replace Bullion

In a recent post, Bloomberg Intelligence’s Chief Commodity Strategist, Mike McGlone, highlighted Bitcoin’s growing superiority over gold. McGlone suggested that Bitcoin’s potential to replace gold bullion is increasing, citing the rising expectations for Bitcoin spot ETFs and the decline in holdings of gold-based exchange-traded funds. However, he noted that Bloomberg Intelligence remains bullish on gold, particularly in the event of a U.S. recession. McGlone emphasized that Bitcoin’s recent strength compared to stocks and bonds demonstrates its maturation and diversification as an asset.

Hold onto your hats! MicroStrategy stock has increased a whopping 28% in just past 5 days

“MicroStrategy Incorporated (MSTR) on NASDAQ is making notable strides in the financial realm. With their stock price at a commendable $432.39 USD, they’ve achieved a 1.77% increase today and a whopping 28.22% over the last five days. This trajectory speaks volumes about the company’s potential in the stock market. A significant factor driving this momentum could be their proactive Bitcoin strategy, positioning them at the forefront of businesses leveraging bitcoin for growth.”

Researchers in China developed a hallucination correction engine for AI models

A team of scientists from the University of Science and Technology of China and Tencent’s YouTu Lab have developed a tool to combat “hallucination” by artificial intelligence (AI) models. 

Hallucination is the tendency for an AI model to generate outputs with a high level of confidence that don’t appear based on information present in its training data. This problem permeates large language model (LLM) research. Its effects can be seen in models such as OpenAI’s ChatGPT and Anthropic’s Claude.

The USTC/Tencent team developed a tool called “Woodpecker” that they claim is capable of correcting hallucinations in multi-modal large language models (MLLMs).

This subset of AI…

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NFT market remains sluggish despite crypto’s rise

Despite a broad-based rally that has pushed digital asset prices to levels not seen in years, the NFT market remains stubbornly mired in a bear. 

In the past week, large caps such as bitcoin have surged as much as 22%, climbing from $28,000 to a peak of $35,000 on Monday. Bitcoin in turn dragged much of the industry higher, with only two assets – Huobi’s HT and Trust Wallet’s TWT – among the top 100 by market capitalization in the red on a 7-day basis, per CoinGecko. 

Despite the broad-based rally, however, the NFT sector has largely failed to rise. 

According to data from Nansen, floor prices – the lowest price at which a single NFT for a given collection can be purchased…

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WhiteList Zone partners with Cointelegraph Accelerator

In the Web3 space, one of the key challenges for new projects and products is to get a motivated audience and for crypto-enthusiasts and investors — to find the most promising projects and get in earlier than others. This is where whitelists step in, addressing several critical aspects.

A whitelist is a curated list of addresses or users with authorized access to specific privileges. It grants entry to activities like presales, token sales, initial coin offerings (ICOs), nonfungible token (NFT) minting, or access to various events. It works as an exclusive guest list, allowing only approved participants to join the party while keeping others out.

Why whitelists are important

For…

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Arbitrum Orbit integrates Celestia for data availability

Developers who are building their networks using Arbitrum Orbit will now have the option to use Celestia for data availability.

Arbitrum is an Ethereum scaling solution and is one of the largest chains by total value locked (TVL) today. According to information on DeFiLlama, Arbitrum currently has a TVL of $1.82 billion and has an estimated 470 dapps deployed on its network. 

Arbitrum Orbit is a tool that enables its users to build layer-3 blockchains that settle onto one of Arbitrum’s layer-2 chains: Arbitrum One or Arbitrum Nova. 

Celestia is a modular data availability layer. Now that it will be integrated with Arbitrum’s Nitro stack, projects that have been built using…

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Bitcoin Now Up Over 110% This Year In Anticipation of Spot ETF Approval And Halving

Bitcoin has risen over 110% in 2023 at the time of writing, where the price of the asset started the year off at $16,677 on January 1, has now pumped to above $35,000 only 10 months later. With more room to run this year as hype builds in the market around the potential approval of a spot Bitcoin ETF by the SEC and the upcoming halving event, many are now questioning if this is the end of this cycle’s eventful bear market.

Since the few disastrous incidents that happened in the bear market causing the price drop, things are now looking more optimistic. As some of the worlds largest asset managers, including Fidelity, VanEck and WisdomTree, have filed in hopes to be the first in the United…

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Payment Splitting And Switching: Improving Privacy And Payment Success Simultaneously

One of the fundamental limitations of the Lightning protocol is how payment routing is handled and accomplished. It is entirely source routed, meaning that the sender of a payment is the one who constructs the entire route from themselves to the receiver in order to facilitate the payment. This presents an issue when it comes to the changing balances of channels over time as they are routing payments between numerous different users across the network, once a sender “locks in” and decides on a specific route, that route cannot be changed until a failure message makes it way back to the sender, allowing them to construct an entirely new route going around the point where the initial…

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Friend.tech sees record outflows as top user jumps ship

As much of crypto enjoys a week in the green, Friend.tech seems to be losing steam.

The SocialFi app saw $5.81 million leave the platform on Oct. 23, the largest daily outflow since Friend.tech’s launch, according to DeFiLlama. The next day with available data, Oct. 25, saw Friend.tech’s second-largest daily outflow, with another $3.21 million heading for the exits. 

The downturn was perhaps accelerated when the platform’s most valuable creator, a profile known as ‘Vombatus,’ sold 176 of their own keys, worth around $1.5 million. Vombatus’ key price fell from around 8.3 $ETH to 1.671 ether (ETH) after the sale.

“At least i got people to talk and use FT for the first time…

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