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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitmain S15 Firmware “Very Buggy”, Will This Claim Affect BTC Prices?

Dalmas Ngetich
Dalmas Ngetich
1 year ago
2 mins read
technical analysis bitcoin

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  • Bitcoin prices bullish, road to $3,800
  • A Twitter user picks out a Bitmain S15 vulnerability
  • Transactional volumes low, expansion above 35 k ideal

Although Bitmain is a central player in the ASIC mining sphere, their latest firmware S15 has a weakness, a Twitter user has revealed. Luckily, BTC prices are steady, and with a combination of favorable candlestick arrangements and fundamentals, Bitcoin may end up trending above $3,800.

Bitcoin Price Analysis

Fundamentals

A Twitter user claims to have identified a possible vulnerability in Bitmain’s S15 firmware. However, he has his terms saying he will only point out the weakness once Bitmain submit and complies with GNL License.

@BITMAINtech tried and failed to lock down the S15 firmware, I identified the vulnerability and @00whiterabbit wrote/tested the attack code. Once @BITMAINtech complies with the GPL licenses for the firmware I will disclose the vulnerability to them so that they can fix it. pic.twitter.com/zwsAaPQjRL

— James Hilliard (@james_hilliard) February 12, 2019

The GNL License is a copyleft license that gives the end user the freedom to “share and change all versions of a program–to make sure it remains free software for all its users” according to the definition of the GNU Organization.

In a Reddit Post, James says Bitmain firmware is “very buggy.” He goes on to say it is essential for people to fix the bugs the Beijing based mining giant introduces in their latest S15 firmware. In high-performance mode, AntMiner S15 has a 28 TH/s hash rate with an energy consumption of 1596 W.

Candlestick Arrangements

Bitcoin

Bitmain is the leading player in ASIC mining. Obviously, this undisclosed weakness is likely to trigger other problems and even affect sales. All the same, BTC prices are steady and likely to reverse losses of the last few days.

Notice that our previous BTC/USD trade plans are valid and as long as prices trend above $3,400-500 zone—our immediate support zone, traders stand to profit once prices race above $3,800. That is to say, the level as per our previous iteration is the first minor resistance level. Once prices breach this level,  risk off traders can initiate long positions with modest targets at $4,500.

From candlestick arrangement, this projection is highly likely to be validated. Firstly, aside from prices reversing from the 78.6 percent Fibonacci retracement level, there is a double bar bull reversal pattern complete with a wide range, high volume bar of Feb 8. Everything else constant, this is very bullish. After a prolonged accumulation from early January, a fitting breakout above this congestion is on the cards.

Technical Indicators

From an effort versus result perspective, bulls are in control. The view is even stable thanks to the failure of sellers to extend their reach, reversing gains of Feb 8. A standout, therefore, is the high volumes of Feb 8. Then, volumes were at 32k exceeding those of Jan 28 and Jan 20. But, they were less than those of Jan 10—35k.

As aforementioned, we need to see prices break above this congestion and print above $3,800. Accompanying this breakout should be high volumes exceeding today’s averages of 10k and most importantly 32k.

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Dalmas Ngetich
Dalmas Ngetich

Dalmas Ngetich

Dalmas, a seasoned crypto reporter, brings a unique perspective to the industry. His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape.

Read more

His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto.
The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance.

His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry.

Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion.

Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers.

DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations.
Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language.

Dalmas is here to help make the tech easy to understand and digestible, even for beginners.
The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential.
This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting.

Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature.

When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills.
You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
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