Fork Wars: Segwit Lock-In and Communication Breakdown

Segregated Witness has officially locked-in and bitcoin’s price is currently coasting along at $3430. Even though Bitcoin market prices have rallied to new all time highs after the August 1 hard fork, both Bitcoin and the newly formed network, Bitcoin Cash still have some uncertain futures ahead.   Bitcoin Cash Pushes Forward as Network Strengthens The hard fork happened, and the Bitcoin network split into two different blockchains that share a previous history. The Bitcoin Cash (BCH) network has survived an entire week, with five mining pools dedicating hashpower towards this alternative chain. Currently, the Bitcoin blockchain is still 899 blocks ahead of the new BCH chain, and it’s also 54 percent more profitable to mine BTC than BCH. However, this will change on August 8 as Bitcoin’s difficulty is going to increase approx. 7 percent while the BCH chain has been lowered to 17 percent of BTC’s current difficulty. At the moment there have been 240 BCH blocks mined since the blockchain split and an ‘unknown miner’ has processed more than… View All ….“Fork Wars: Segwit Lock-In and Communication Breakdown”

Czech National Bank: “Don’t Be Afraid of Bitcoin”

The Czech National Bank has distributed an announcement tending to bitcoin and cryptographic money on its site. The archive tends to the fame of bitcoin in Prague and the Czech Republic, talks about whether digital money represents a risk to the customary keeping money framework, and contends that fiat monetary forms include preferred monetary forms over bitcoin because of value soundness. The Czech National Bank States That There “Is No Reason for Banks to Fear” Bitcoin Czech National Bank: “Don’t Be Afraid of Bitcoin” The Czech National Bank’s announcement with respect to digital currency is titled “Don’t fear bitcoin”, and looks to address famous attestations in regards to the potential dangers that bitcoin and cryptographic money may posture to existing fiscal frameworks. The record begins by expressing that “Prague is home to a solid group of digital currency supporters and clients.” The announcement at that point quickly swings to “questions seeing whether foundations, for example, the Czech National Bank ought to fear bitcoin… . What’s more, of their influence to… View All ….“Czech National Bank: “Don’t Be Afraid of Bitcoin””

Japanese Exchanges grasping Bitcoin Cash Post-Fork

As Bitcoin Cash (BCC, BCH) pieces are being mined, all significant Japanese trades are outfitting to acknowledge their clients for the new digital money. A developing number of trades have effectively set a date to begin exchanging Bitcoin Cash, while others are still in the arranging stage. Fork Watch: Japanese Exchanges Embracing Bitcoin Cash Post-ForkFollowing the August 1 hard fork, all significant Japanese bitcoin trades declared that they will soon acknowledge their clients for Bitcoin Cash, the new cryptographic money made as Bitcoin’s blockchain wandered into two separate blockchains today. For each bitcoin held by clients at the season of the fork, a similar number of BCC will be credited to their records. In the interim, every one of them have suspended bitcoin stores and withdrawals amid the fork, and some are get ready to list BCC for exchanging the following couple of days. The following is a gathering of all significant Japanese trades that have refreshed their plans for Bitcoin Cash in the wake of the hard fork at… View All ….“Japanese Exchanges grasping Bitcoin Cash Post-Fork”

Trade sued for 3085 Bitcoins in the wake of Reversing Bitcoin-Ether Trades

A noteworthy bitcoin trade with a solid nearness in Japan, Quoine, is being sued for turning around bitcoin-ether exchanges after it supposedly experienced a framework glitch. Cryptographic money exchanges on the stage should be irreversible, so the offended party claims Quoine acted falsely and looks for the arrival of 3,085 bitcoins. Quoine Sued for Reversing Trades One of Asia’s biggest bitcoin trades, the Singapore-based Quoine, is purportedly being sued over the inversion of bitcoin-ether exchanges. This claim is the nation’s first bitcoin-particular legitimate debate, as per The Straits Times on Monday. The offended party is a market marker known as B2C2, who submitted offer requests on Quoine’s stage at the rate of 10 bitcoins for one ETH on April 19, when the market cost of one Bitcoin Exchange Sued for 3085 Bitcoins After Reversing Bitcoin-Ether TradesETH was around 0.04 bitcoin. The requests were filled and credited around the same time; B2C2 paid 309.2518 ETH and got 3092.517116 bitcoins. In any case, the following day Quoine turned around the exchanges and… View All ….“Trade sued for 3085 Bitcoins in the wake of Reversing Bitcoin-Ether Trades”

BTC-e on Refunds, the FBI and Alexander Venex

On July 31 the bitcoin exchange BTC-e sent a message over Twitter and on the forum Bitcointalk concerning the company’s recent website seizure by U.S. law enforcement. Additionally, the statement claims that Alexander Vinnik was not the head operator of BTC-e and further states the detained Russian was never an employee. BTC-e Reveals Information on FBI Takedown Bitcoin.com recently reported on the recent takedown of the exchange BTC-e and the arrest of its alleged operator Alexander Vinnik. According to U.S. law enforcement Vinnik operated the trading platform and laundered $4B worth of bitcoins tethered to illicit activities since 2011. The exchange domain was seized following the arrest of Vinnik by six law enforcement agencies working on the investigation, and now many innocent BTC-e traders are concerned about their holdings. Then on Monday someone who had access to the company’s Twitter handle and Bitcointalk account sent out a message to the public. “On July 25, FBI staff came to the data center where our server equipment was located and seized all of the equipment, the servers… View All ….“BTC-e on Refunds, the FBI and Alexander Venex”

Poloniex Quits Wasington States as new Exchange Rules Become Active

Back in April, Washington politicians finished piecing together and finalizing the regulations for bitcoin exchanges. Those guidelines and rules are now active. Lawmakers pushed Senate Bill 5031 through the House and Senate, and it was signed into existence by governor Jay Inslee.  Bill Requirements for Bitcoin Exchanges The rules declare that anyone who operates a cryptocurrency exchange within Washington must apply for a license from the State. They must also contract with a third party auditor and have their system disrobed and inspected. The bill states, “For business models that store virtual currency on behalf of others, the applicant must provide a third-party security audit of all electronic information and data systems acceptable to the director.” Lawmakers also created a rule that says exchanges have to have a bond associated with their business. The figure of the bond has to be tied to the amount of currency transacted in the previous year. Reaction From Popular Exchanges As a result of the new law, major exchanges Poloniex and Bitfinex said they would cease conducting business in the state. The… View All ….“Poloniex Quits Wasington States as new Exchange Rules Become Active”

Chinese Blockchain Association Issues Protocol to Regulate ICOs

Six Chinese blockchain organizations have discharged a joint convention intended to oversee money related dangers for beginning coin offerings (ICOs) in China.   Six Chinese blockchain organizations have discharged a joint convention intended to oversee money related dangers for starting coin offerings (ICOs) in China. The joint convention, ‘Guiyang Blockchain ICO Consensus’, was proposed by Guizhou Blockchain Industry Technology Innovation Alliance, Zhongguancun Blockchain Industry Alliance, Blockchain Finance Association, Guiyang Blockchain Innovation Research Institute and two other anonymous substances, as indicated by a report from the China Money Network. There are right now 43 stages in China that give ICOs. The most, of which, are situated in Guangdong, Shanghai and Beijing, which represent more than 60 percent of the aggregate number of stages. SEC Cracks down on ICOs Strangely, the arrival of the Chinese ICO convention comes when the U.S. Securities and Exchange Commission (SEC) declared yesterday in a report that DAO tokens are a security and that they ought to be managed. As per the report, The DAO was a… View All ….“Chinese Blockchain Association Issues Protocol to Regulate ICOs”