Bitcoin News: New AI-Infused Blockchain Ambient Aims to Replace Bitcoin

A new contender has emerged in the cryptocurrency space, aiming to replace the reigning champion Bitcoin. The new blockchain, called Ambient, is backed by prominent venture capital firm Andreessen Horowitz and boasts advanced artificial intelligence capabilities. Its co-founder, Travis Good, claims that Bitcoin’s encryption mechanisms are becoming outdated and could be obsolete within five years, posing a significant challenge for miners. In this article, we delve into the details of this ambitious new project and its potential impact on the cryptocurrency market.

AI-Infused Blockchain Ambient Aimed at Replacing Bitcoin

A new artificial intelligence-infused blockchain, Ambient, has been backed by Andreessen Horowitz and is ultimately designed as a replacement for Bitcoin, according to its co-founder Travis Good. Good claims that Bitcoin’s encryption mechanisms are getting stale and could be completely obsolete within five years, creating a business conundrum for miners. He believes that Ambient, with its deep capabilities in the AI space, could become a decentralized competitor to OpenAI. The network offers a solution for miners who have invested billions of dollars in hash power for securing Bitcoin’s network.

Coinbase Victim of Latest Phishing Scam, Users Lose over $46 Million

Blockchain investigator ZachXBT has reported that users of crypto exchange Coinbase have collectively lost over $46 million in the past two weeks due to suspected phishing scams. Scammers have targeted multiple Coinbase wallets this month, with a screenshot from blockchain explorer Blockchair suggesting that 400 Bitcoin (BTC), valued at $81,464 per BTC, may have been stolen.

Bitcoin Faces MVRV Death Cross Signal, More Selloff Ahead?

The world’s largest cryptocurrency, Bitcoin (BTC), is again under selling pressure as a critical on-chain indicator shows a bearish signal. CryptoQuant data reveals that the Market Value to Realized Value (MVRV) ratio has formed a death cross, often indicating a potential downside trend for BTC. With Bitcoin struggling to maintain key support levels, investors and traders are growing anxious about potential further sell-offs.

Hut 8 Mining and Eric Trump Establish American Bitcoin

Hut 8 Corp., a leading North American cryptocurrency mining company, has partnered with Eric Trump to launch American Bitcoin Corp., dedicated to large-scale Bitcoin mining and strategic reserve development. Hut 8 contributed most of its ASIC miners to American Data Centers, Inc., now rebranded as American Bitcoin Corp. Hut 8 will retain an 80% majority stake and serve as the exclusive infrastructure and operations partner. This partnership aims to generate stable, long-term revenue streams for Hut 8 through colocation and managed services agreements.

Bitcoin Accumulation Phase Signals Opportunity; 3 Presale Coins to Watch

Bitcoin recently dipped from its all-time high of $109K to $77K, triggering panic selling among retail investors. However, seasoned traders view this correction as a setup for Bitcoin’s next major rally. Historical metrics and on-chain indicators suggest an accumulation phase, hinting at a potential bullish return. As Bitcoin prepares for its next move, investors are looking beyond BTC to find the next big crypto that could deliver exponential returns. Presale-stage tokens often offer the best opportunities, and three standout projects generating serious interest are BTC Bull Token, MIND of Pepe, and BlockDAG.