Crypto-News

Hard Fork, Take Two: SegWit2x Will Return Dec. 28, Says Founder

Hard Fork, Take Two: SegWit2x Will Return Dec. 28, Says Founder

The controversial SegWit2x Bitcoin (BTC) hard fork will go ahead on Dec. 28, according to the project’s official website.

The SegWit2x project, which caused months of debate and infighting among the Bitcoin community prior to its last-minute cancellation in November, now says it will fork off at block 501451, due in around two days’ time. The project’s Founder and Lead Developer, Jaap Terlouw, stated on their site that the fork aims to address issues of “commission and transaction speed within the Bitcoin network,” adding that currently, Bitcoin is “almost impossible to use as a means of payment.” Confirmation that the hard fork will, in fact, take place is indicated both in the roadmap on the project’s site, as well as in a direct quote from Terlouw:
“Our team will carry out the Bitcoin hard fork, which was planned for mid-November.”
The founder also promised that in addition to the common practice of crediting BTC holders with equivalent balances of the new coin (B2X), they would also receive “a proportional number of Satoshi Nakamoto’s Bitcoins as a reward for their commitment to progress.” In total, eight exchanges are listed as official supporters of the fork. The project’s roadmap includes features such as Lightning Network support, smart contracts and, ultimately, anonymous transactions.

Forking season

In the past six weeks, Bitcoin Cash, another Bitcoin hard fork formed in August, has become the central talking point of the industry, as it sees remarkable growth and sparks shifts in mining and investment behavior, affecting Bitcoin’s price. The latest incarnation of SegWit2x has so far received comparatively little publicity. However, the website copy conspicuously name-dropped one particular exchange, HitBTC. Speaking about existing SegWit2x futures, Terlouw is quoted on the site as saying:
“At the same time, trading of its [SegWit2x] futures has been carried out on some exchanges for a long time. HitBTC is among them.”

When the project first saw hints of a comeback on Dec. 19, futures prices of B2X coins saw an uptick from under $200 to almost $600, a trend which has remained steady prior to the launch.

Meanwhile, on Christmas Day, a Blockchain Angel Investor debuted his own ‘version’ of Bitcoin, Bitcoin God (GOD), while several other forks are due to join the ecosystem in the coming weeks. For BTC investors, a key appeal of new Bitcoin ‘versions’ or hard forks  is the duplication of their BTC holdings in the new coin at the time of each snapshot, which essentially provides them with a supply of “free money.”  

Support our course:

Donate Bitcoins (BTC): 1MLHUgQcJfjHkmvBMNVCe2yMJdschX3u6E

Donate Ethereum(ETH): 0x8B65c06138b8f77DB56b834C1F9228613acf1650

Donate Electroneum (ETN): etnkDsxGLf1Vb5YLRNAjnEKx4Q3XHX3tJGcNDXaQAP14RrD5qdwJBagcLGCDLvMQLKCZt3id1D2XHHQv8tj9WHZG7myEYBRJD2

 
Please follow and like us:
Bitcoin-Only Charity Fund Donates $1 Mln To Internet Archive

Bitcoin-Only Charity Fund Donates $1 Mln To Internet Archive

Pineapple Fund has donated $1 mln in Bitcoins to the Internet Archive this Saturday. Pineapple is a Bitcoin-only charity established in early December 2017, whose ultimate goal is to give $86 mln worth of Bitcoin to various nonprofit organizations.

For early adopters, Bitcoin’s massive rise in value has been a remarkable ride from rags to riches, and some are now deciding to give back. The Pineapple Fund has been launched by an anonymous person who goes by the username /u/PineappleFund on Reddit.

The donor has created a website to issue reports as to which organizations have been given Bitcoin donations so far. It also includes a form for those nonprofits who would like to apply for future donations.

To date, the charity has given 657 BTC - approximately $8.5 mln - to 13 organizations, which focus on specific areas, such as providing clean water to sub-Saharan Africa, building technology for universal healthcare and improving the treatment of age-related diseases.

The fund’s homepage claims:

“Our main themes are supporting medical research, gender equality and taking innovative approaches to do good in this world.”

The motive for the donation is explicit on the site as well:

“Donating $86 mln of Bitcoins to charity. Because once you have enough money, money doesn’t matter.”

Many early adopters of Bitcoin have been in the news recently. For example, the Winklevoss brothers purchased approximately one percent of the outstanding supply of BTC in 2013 - an investment which has resulted in them becoming the first Bitcoin billionaires.
 

Support our course:

Donate Bitcoins (BTC): 1MLHUgQcJfjHkmvBMNVCe2yMJdschX3u6E

Donate Ethereum(ETH): 0x8B65c06138b8f77DB56b834C1F9228613acf1650

Donate Electroneum (ETN): etnkDsxGLf1Vb5YLRNAjnEKx4Q3XHX3tJGcNDXaQAP14RrD5qdwJBagcLGCDLvMQLKCZt3id1D2XHHQv8tj9WHZG7myEYBRJD2

 
Please follow and like us:

Israel Government Considering National Cryptocurrency

Following in the footsteps of Russia and DubaiIsrael is considering offering a national cryptocurrency - a digital shekel - which would correspond in value to physical shekels.

According to the sources close to the Finance Ministry, Israel’s black market is approximately 22 percent of the country’s gross domestic product. A digital currency, registered with the government of Israel, would make black market transactions less possible.

Additionally, per the news source, the government is considering legislation that would substantially reduce the amount of physical cash in the economy. For example, one suggestion would be a law against paying wages in cash.

The process for the creation of the digital shekel is just getting underway, however. The government has offered the ‘Economic Arrangements Bill,’ which, if passed would create a separate panel for the Bank of Israel to consider creating the digital shekel.

The addition of the physical cash laws is the result of a failure by the Knesset to pass legislation of the same ilk two years ago. The pressure for digital currency adoption is high, as recent comments from the Israeli Prime Minister indicate.

Colu, an Israel-based Blockchain wallet application, has been part of the conversation with the Israeli government in pursuing a digital currency. Mark Smargon, VP Blockchain Colu told Cointelegraph:

"The Israeli regulators have been looking into digital currencies for a while, we were even part of this conversation. If this initiative becomes a reality, Colu will be happy to collaborate...as we believe digital currencies are the future of money."

Support our course:

Donate Bitcoins (BTC): 1MLHUgQcJfjHkmvBMNVCe2yMJdschX3u6E

Donate Ethereum(ETH): 0x8B65c06138b8f77DB56b834C1F9228613acf1650

Donate Electroneum (ETN): etnkDsxGLf1Vb5YLRNAjnEKx4Q3XHX3tJGcNDXaQAP14RrD5qdwJBagcLGCDLvMQLKCZt3id1D2XHHQv8tj9WHZG7myEYBRJD2

 
Please follow and like us:
Cryptocurrency Market Recovering After Massive Correction

Cryptocurrency Market Recovering After Massive Correction

The cryptocurrency market is getting back on its feet after a brutal day yesterday. The majority of coins have risen by 10-20% over the last 24 hours after more than a 30% fall on Friday, Dec.22.

The total digital currency market capitalization went from $650 bln to $430 bln yesterday and has now rebounded to $585 bln.

Total market

Bitcoin went from the all time high of over $20,000 to as low as $11, 970 in just a matter of days. By press time it has partially retraced its losses and is now traded at around $15,500.

Bitcoin Charts

Ethereum, the second largest cryptocurrency, lost almost $30 bln in market cap yesterday, but has largely recovered. Its market capitalization is now $72 bln. It now trades for around $720 on European exchanges and as high as $906 on South Korean markets. Ethereum Charts

Bitcoin Cash experienced the greatest price volatility of all major digital currencies over the last 48 hours. The price fell from $3,909 to $1,970 but at press time is back to $3,400.

Bitcoin Cash Charts

The extreme market turbulence came days after the alleged insider trading at Coinbase, one of the biggest cryptocurrency exchanges.

Good news vs. bad news

It’s been an extremely volatile week for the entire digital currency industry. Following CBOE’s Bitcoin futures trading start on Dec. 10, the CME group launched a futures product of its own. Trading at CME opened Dec.17, roughly when Bitcoin’s volatility began to increase. On Dec. 20 Litecoin creator Charlie Lee sold or donated all his Litecoins, ostensibly to avoid “conflict of interest.” However, some have questioned his motives, since just a week earlier he predicted a multi-year bear market which would see the price of Litecoin drop as low as $20. Litecoin Charts Joining major institutions like CBOE and CME in their Bitcoin agenda, Goldman Sachs announced its plans to set up a cryptocurrency trading desk on December 21. It will be opened by the end of June 2018. What prompted the latest dip in the entire market is yet unknown. Charlie Shrem, a founding member of Bitcoin Foundation, believes that the market has already seen similar price movements and there is no reason to panic.
View image on Twitter
View image on Twitter

Support our course:

Donate Bitcoins (BTC): 1MLHUgQcJfjHkmvBMNVCe2yMJdschX3u6E

Donate Ethereum(ETH): 0x8B65c06138b8f77DB56b834C1F9228613acf1650

Donate Electroneum (ETN): etnkDsxGLf1Vb5YLRNAjnEKx4Q3XHX3tJGcNDXaQAP14RrD5qdwJBagcLGCDLvMQLKCZt3id1D2XHHQv8tj9WHZG7myEYBRJD2

 
Please follow and like us:
Bitcoin Question’ Should Be At G20, Says France Finance Minister

Bitcoin Question’ Should Be At G20, Says France Finance Minister

France’s finance minister has called for a public debate on Bitcoin at next year’s G20 Summit in Buenos Aires.

Speaking on French news channel LCI and quoted by Reuters, Le Maire said that the Bitcoin “question” should form a topic for the international government forum, specifically with regard to regulation:
“I am going to propose to the next G20 president, Argentina, that at the G20 summit in April we have a discussion all together on the question of Bitcoin. There is evidently a risk of speculation. We need to consider and examine this and see how... with all the other G20 members we can regulate Bitcoin.”
Bitcoin’s notable price rise this year has been attracting more and more attention not only in mainstream media but from governmental authorities throughout the world. However, individual governments globally are approaching cryptocurrency, and Blockchain technology more broadly, differently. Some of the countries already regulating cryptocurrency include the US and Japan. So far, only a few countries have instituted a full crypto ban, including Morocco and Bolivia. South Korea may follow suit. Last week, Bank of Canada Governor Stephen S. Poloz described how the “noise” around cryptocurrency “keeps him awake at night,” while a US regulator conversely said the “impact” of Bitcoin on global economic policy was barely perceptible. Underscoring the lack of consensus globally on cryptocurrency, the Bank of France Governor, Francois Villeroy de Galhau, countered the notion that Bitcoin is even a currency, and that it should not be treated as one. At a conference in Beijing last month he reportedly told attendees:
“We need to be clear: Bitcoin is in no way a currency, or even a cryptocurrency is a speculative asset. Its value and extreme volatility have no economic basis, and they are nobody’s responsibility.”
     

Support our course:

Donate Bitcoins (BTC): 1MLHUgQcJfjHkmvBMNVCe2yMJdschX3u6E

Donate Ethereum(ETH): 0x8B65c06138b8f77DB56b834C1F9228613acf1650

Donate Electroneum (ETN): etnkDsxGLf1Vb5YLRNAjnEKx4Q3XHX3tJGcNDXaQAP14RrD5qdwJBagcLGCDLvMQLKCZt3id1D2XHHQv8tj9WHZG7myEYBRJD2

 
Please follow and like us:

Is it Ever Too Late to Buy Bitcoin? $100 Then and Now

One of the reasons that Bitcoin is capturing the hearts and minds of individuals is the stories of instant millionaires who have made their fortune from being an early adopter. People who were mining the coin or accumulating it by the hundred, and were smart enough to hold onto it today are experiencing unprecedented profit.

With the monumental price gain, however, people are starting to wonder where the ceiling is, and if it is not fast approaching. To this end, there is a section of the population who are wondering: ‘is it too late to get into Bitcoin?’ However, this is not a new question, it is a question that was asked when Bitcoin was at $10, $100, $1,000 all the way up to over $17,000 where it sits today. There is, of course, no doubting that those who were really early to the party are the biggest profiteers, and for envy’s sake, it is worth looking at what has been achieved in just seven years.

What would $100 of Bitcoin be worth today?

Had you put $100 into Bitcoin starting back in 2010, and going through the years, you would have made massive profits along the way. July 28, 2010: $100 back in 2010 - baring in mind this is a full two years after Satoshi Nakamoto put out his whitepaper on Bitcoin - would net you at today’s value a whopping $28,341,266. One Bitcoin back then was worth just $0.06 Dec. 12, 2011: Within 18 months, there would have been plenty time to get involved in Bitcoin, but by this time the price was up over 3,000 percent, and people were already asking, ‘is it too late?’. Bitcoin was worth $3.19 and $100 back then would net you over half a million dollars ($533,065) Dec. 10, 2012: A year later, and Bitcoin was still climbing high, now breaking into the teens sitting at $13.54, a gain of 300 percent. $100 would have turned to $125. Still remarkably impressive in terms of gains, but slowing somewhat from 18 months earlier - Does that mean its rise is coming to an end perhaps? Dec. 16, 2013: Hindsight is, of course, a fantastic thing as the next year the price of Bitcoin was up to $638 and thus doubling as an investment. So, $100 worth back then would be pocket change right? Well, it would be worth $2,665 today. Dec. 8, 2014: Bitcoin was starting to be heard in whispers around the dinner table about now, but people also heard that there were black markets, hacks, and other nefarious uses, yet $100 worth back then would be worth $4,859 today. Dec. 12, 2016: Through the harder years from 2014 and the slowed growth, Bitcoin would not have been that attractive, but really, it would have been a perfect time to buy. The explosion was just about to happen. Bitcoin was trading for $780. Had you put $100 into it, that investment would have increased by more than 2,000 percent to $2,180. June 12, 2017: Six months ago, no one thought Bitcoin could go much higher than the $2,500 it stood at. But of course, it was about to take off again. Dec. 5, 2017: This week alone has seen some crazy movement. Had you bought $100 worth of Bitcoin just a few days ago, you could sell it today for $145. Dec. 10, 2017: – If you had bought at the low on Sunday’s slump (when prices fell to $13,160), that $100 would be worth $129.

What the future holds

No one knows what will come next, but it could be safe to say that pretty much anyone who bought Bitcoin more than a week ago is profiting already. They may still be classified as early investors, or they may not, and although they may not experience gains of 3,000 percent, the feeling is Bitcoin has a long way to grow. Ronnie Moas, a famed stock picker has put forward an argument that Bitcoin is highly undervalued even at today’s prices. Moas said:
“We currently have $200 tln in the world tied up in cash, stocks, bonds and gold alone and all four of those, in my opinion, are overvalued. If 1/2 of one percent of that 200 tln dollars ends up in Bitcoin, you are looking at a one tln dollar valuation that would be above where Apple Computers, the most valuable company in the World, is today.”
   

Support our course:

Donate Bitcoins (BTC): 1MLHUgQcJfjHkmvBMNVCe2yMJdschX3u6E

Donate Ethereum(ETH): 0x8B65c06138b8f77DB56b834C1F9228613acf1650

Donate Electroneum (ETN): etnkDsxGLf1Vb5YLRNAjnEKx4Q3XHX3tJGcNDXaQAP14RrD5qdwJBagcLGCDLvMQLKCZt3id1D2XHHQv8tj9WHZG7myEYBRJD2

Please follow and like us:

Load More

error

Enjoy this post? Please spread the word :)

Follow by Email
Facebook250
Google+150
Twitter220
INSTAGRAM100
WhatsApp For Quick Response!

WhatsApp Us