Connect with us

Bitcoin

Bitcoin Cash [BCH] hard fork sees another spat; Faketoshi sends bitter regards to Roger Ver

Published

on

On November 8, two proponents of the Bitcoin Cash [BCH] community were found having a serious battle when one of them, Roger Ver, revealed an email that he received from Craig Wright this week. The message was apparently of an unprofessional nature wherein Wright aka Faketoshi displayed much hostility and outrightly bad-mouthed Ver. Some of the content from the email read:

“Bitcoin will die before ABC shits on it. I will see BCH trade at 0 for a few hours. Will you? Side with ABC, you hate Bitcoin, you are my enemy. You have fucking no idea what that means.”

Craig Wright's email | Source: Roger Ver

Craig Wright’s email | Source: Roger Ver

Next, Ver mentioned an email he received from Calvin Ayre, where he described the message as mature and civil. Ayre sent Veran an email at the onset of the November BCH hard fork and asked the Bitoin.com CEO to “rejoin the camp that supports economic freedom”. To this, Ver stated:

“Maybe Calvin and I have a little bit of a difference of agreement as to what the best tools are to achieve more freedom for the world but that’s fine you know different people can have different opinions.”

Roger Ver also spoke about the dilemma of splitting the coins. He cited the case of Ethereum and Ethereum Classic and mentioned that not splitting the coins became a problem during the hard fork as the customers of ETH were depositing ETH and receiving mixed coins from the exchanges. He added:

“They say you can’t split the coins at all because people are going to lose coins, but I think they have it backwards and we have the empirical evidence from the last time when Ethereum split into ETH and ETC, a number of exchanges did not implement replay protection and as a result tons and tons of customer money was lost on these exchanges”

Earlier this week, another Bitcoin Cash proponent and CEO of Money Button, Ryan Charles, had opined that the hard fork of the coin does not necessarily need replay protection. A replay attack is is an attack where valid data transmission is repeated or delayed.

Source:newsbtc

Advertisement

Bitcoin

New Diar Study: “Ethereum Touched Record Highs for It’s On-Chain Transaction Volume During December 2018”

Published

on

According to a report released by analytics firm Diar yesterday, the total number of Ethereum on-chain transactions hit an all-time high last month (December 2018). To be a bit more specific, we can see that the number of tx’s scaled up to a mammoth 115 million by the end of December 2018.

On the above-stated matter, the folks over at Dair were quoted as saying:

“In terms of transaction count on-chain, the ‘supercomputer’ has found stability since October bobbing between 16–17 million monthly transactions.”

More On The Matter

At press time, it is worth mentioning that the number of on-chain ETH transactionsassociated with the United States dollar is currently at a 22-month low. For those who may not be aware, the U.S. dollar’s on-chain value last year lay around the $815 million marks (a figure that was pegged to be $1.1 billion in 2017).

In its report, a researcher for Diar further noted:

“A 97 percent drop in on chain transaction value from the peak in January versus December 2018 was, by and large, the cause of an 80 percent drop in Ethereum’s price.”

U.S. dollar value of on-chain transactions

Chart Showcasing the Monthly ETH On-Chain Transaction Volume (Source: Diar)

Other Information Worth Considering

  • Processing charges associated with the ETH network are unlikely to interfere with the ecosystem’s growth because the network currently offers users with some of the lowest fees for on-chain transactions.
  • The recent ETH Constantinople hard fork was delayed due to the discovery of a security vulnerability (that could have potentially allowed for the occurrence of a ‘reentrancy attack’).For those of our readers who may not be aware of what a reentrancy attack is, it is essentially a vulnerability that allows potential hackers to steal altcoins from a particular smart contract by repeatedly requesting funds from the network (all while feeding the system wrong information about the miscreant’s real ETH balance).
  • Final Take

In rounding off this article, it is worth remembering that once the Constantinople upgrade goes live, it will be able to introduce cheaper gas costs (transaction fees) for some of the central operations (primarily storage) that can be carried out within the Ethereum network.

Continue Reading

Bitcoin

China’s Tsinghua University Partners with Ripple to Create Blockchain Research Scholarship Program

Published

on

From the moment that Ripple first launched its platform, it has been looking for ways to spread cryptocurrency and their own products throughout the industry.

They have even managed to cross a major milestone as they established over 200 partnerships involving 40 separate countries. One of their most recent partnerships involves Tsinghua University, in an effort to launch a new scholarship program that will educate students in China.

While China has held a strict anti-crypto stance, the same has not been true of blockchain technology.

The program, which will be called the Blockchain Technology Research Scholarship program, is the combined venture of Ripple and the Tsinghua University Institute of Financial Technology (THUIFR). This university is one of the top schools in all of China, though THUIFTR was not started until 2017. It has been a collaborative effort between Institute for Interdisciplinary Information Sciences, PBC School of Finance, School of Software and Law School at Tsinghua University.

As students participate in the program, they will learn about the ins and outs of blockchain technology. On Twitter, THUIFR claims to have already hosted a seminar, titled “Innovation and Development of Digital Currency and its Regulatory Path.”

The partnership with Ripple will allow the program to launch in China, focusing clearly on the international regulations that govern the blockchain. Ivy Gao, the Director of International Cooperation and Development for THUIFR, said,

“Most importantly, I believe, this program will greatly help with their future research or career in the field of blockchain technology.”

The SVP of Global Operation at Ripple, Eric van Miltenburg, said,

“The program’s goal – to provide students with opportunities in blockchain research – closely aligns with that of Ripple’s University Blockchain Research Initiative. We’re thrilled to support THUIFR in this endeavor and look forward to its launch.”

Ripple has created an impressive reputation for itself as a major player in the fintech world. There are multiple banks using its xRapid product as their own blockchain solution, with more being added as the word spreads. However, it is perhaps the unique philosophy of Ripple’s platform and products that appeals to China, considering the substantial difference from that of Bitcoin’s ideology.

Their token has become the second-most valuable crypto asset, which could be due to the pattern of collaboration between financial institutions, governments, and universities.

According to the most recent data provided by CoinMarketCap, Ripple is presently being traded at $0.3175, ranking second by market capitalization.

Continue Reading

Bitcoin

Was November the Last Big Bitcoin Sell-Off? Trader Expects Slow Grind in 2019

Published

on

By CCN.com: According to a trader and crypto technical analyst, November 2018 may have been the last sell-off of Bitcoin and a long consolidation period is expected throughout 2019.

Since experiencing a steep 13 percent drop on January 10 from $4,036 to $3,502, the Bitcoin price has been relatively stable in a tight range in mid-$3,000.

Chart from TradingView

What Does Low Volatility Mean For Bitcoin?

While it seems as if the price of Bitcoin has been volatile throughout the past two weeks, the volatility of the dominant cryptocurrency occurred in a tight range between $3,500 to $4,000.

No major movements below or above key support and resistance levels were recorded, preventing any meaningful short-term price movement.

One trader said that if the trend of relatively low volatility in a tight low price range continues, the sideways action of Bitcoin will extend throughout the year, resulting in a long consolidation period.

“The longer this sideways action takes place the more I think the bottom is in. November was one of the worst monthly candles in history. It’s very possible that was the last of the major selling and now we’ll have a consolidation period that lasts most of 2019,” the trader said.

bitcoin price
The trader is predicting bitcoin to trade sideways through much of 2019. Pic: Shutterstock.

On Sunday, Bitcoin recorded a six percent drop against the U.S. dollar in a 24-hour period from $3,700 to $3,470. The asset has since recovered above the $3,500 mark and based on the performance of the asset in the last 48 hours, Bitcoin is expected to demonstrate stability throughout the week.

Hsaka, a cryptocurrency analyst, said:

Inside Bar; Low that was taken out (3480) holding as support; Continue leaning neutral here, can’t short HTF support, will wait for a break (even moreso when confluent with that CME gap).

A slow grind upwards in the first two quarters of 2019 could allow Bitcoin to establish a proper bottom and a mid-term trend reversal. If the price of asset recovers quickly in a short time period, as seen in the major sell-off of cryptocurrencies in November 2018, it can leave the asset class vulnerable to a large short-term correction.

With events that are considered as catalysts to fuel the momentum of Bitcoin in the first two quarters of this year including Bakkt and Bitcoin exchange-traded fund (ETF) far from being materialized due to the shutdown of the U.S. government, it has become more likely for the cryptocurrency market to demonstrate a low level of volatility in the upcoming months.

How About Alternative Crypto Assets?

Historically, alternative crypto assets, especially low market cap cryptocurrencies, have tended to perform strongly against Bitcoin when the asset is in a sideways market.

However, as seen in the performance of tokens and other major crypto assets in the past 48 hours, the stability in Bitcoin is unlikely to trigger short-term rallies for assets with lower volumes and valuations due to the current conditions of the market.

Some analysts believe November to have been the last sell-off for Bitcoin and expect a several-month-long consolidation period to occur.

Continue Reading
Advertisement
Advertisement
Open

Close