The price of Tezos derivatives has crashed on multiple exchanges following the revelation of infighting between the platform’s developers and the independently-operated Tezos Foundation.
Infighting at Tezos
Initial coin offerings (ICOs) have exploded in 2017, and the Tezos ICO rode that wave to a then-record $232 million ICO in July.
BitMEX, a cryptocurrency exchange, has clarified its position on hard forks considering the pending SegWit2x hard fork in November. The SegWit2x hard fork is intended to provide a minimal patch to resolve the conflict over activating SegWit and increase the block size to allow faster transactions on the bitcoin blockchain.
In the interest of protecting customer assets, BitMEX noted in a blog that it requires the following measures of hard forks:
Strong two-way transaction replay protection, enabled by default, so that transactions on each chain remain valid on one another.
Earlier today, on October 20, the Bitcoin price achieved a new all-time high at $6,054, for the third time in the past 20 days.
Within the past 24 hours, the price of Bitcoin has surged from $5,600 to $6,054, by over $400 in a single day.
There is another major development in the world of driverless cars on the horizon. A recent announcement by Intel will not go over well with the general public, though; that much is a foregone conclusion. The company claims to have developed a system which ensures that self-driving vehicles can’t cause accidents. That’s a very bold claim that will need some solid evidence to be backed up. Making autonomous vehicles blameless is not necessarily the right option to pursue right now.
Driverless Cars Can’t be Blameless
Everyone who has ever worked with a computer program or piece of electronics will know there is no such thing as “blameless” in the world of technology.
We have seen the arrests of multiple cryptocurrency exchange operators over the past few years. In particular, people who run such businesses without the proper licenses find themselves in a world of trouble sooner or later. In Japan, the police have arrested one individual who allegedly ran a Ripple-related exchange business. He scammed at least one investor out of a deposit, which made him a person of interest to the police.
Former XPR Exchange Operator Gets Arrested
This entire story is worth taking note of, especially when considering that the same individual defrauded at least a dozen investors across different schemes.
It’s obvious that cryptocurrency investing is often intimidating and complex for newcomers to the space. This complexity has been one of the largest factors limiting the speed of mass adoption. Without user-friendly tools, even if new investors and traders are sure of what they want to purchase, they may often be unsure of how best to manage and analyze their assets. This is what makes the projects being led by Rublix some of the most promising currently underway, and has the potential to change how users interact with their investments.
Gary Shilling, a prominent and highly regarded Wall Street financial analyst, recently said in an interview that he doesn’t understand Bitcoin and do not intend to invest in “things that are not transparent.”
While his statement was factually inaccurate, as Bitcoin is the most transparent financial network in existence due to its decentralized blockchain network, it is optimistic to see investors acknowledge their lack of knowledge in Bitcoin, rather than simply calling out Bitcoin as a “bubble” or a “fraud,” as figures such as JPMorgan CEO Jamie Dimon did in the past.
Bitcoin price hit a new all-time high on Friday, making a run and breaking beyond the significant milestone of $6,000.
USD bitcoin prices found support near $5,700 throughout most of the day before trading took a turn and went stratospheric at midday (UTC).
At 13:30, bitcoin was trading to the dollar at $5,650 on Bitfinex before shooting up to $6,054.9 at 15:00, a new record high for the world’s most prominent cryptocurrency.
At press time, data from CoinmarketCap pegs bitcoin’s value at $5,943.
The bitcoin price soared to a new all-time high of $6,054 on Friday, punching through the $6,000 barrier for the first time.
Bitcoin Price Storms Past $6,000
After a week of volatility, the bitcoin price had appeared to settle down to a stable level on Friday. That, however, was just the calm before the storm. After consolidating support at the $5,650 mark, the bitcoin price began to soar, crossing the $5,700, $5,800, and $5,900 checkpoints in quick succession
At 15:00 UTC, Bitfinex experienced an explosion in trading volume, carrying the bitcoin price over the $6,000 to set a new all-time high of $6,054.
Tezos is one of the cryptocurrency ICOs which has received a lot of attention of late. After raising around US$232 million in short order, there are plenty of people with incredibly high expectations for this project. So far, it seems things are not exactly going according to plan, as an internal power struggle is diminishing the project’s chances of success. It was only a matter of time until something like this happened, to say the very least.
Tezos Power Struggle is Problematic
No one can deny any cryptocurrency ICO raising over US$200 million is bound to run into some trouble sooner or later.
There are so many blockchain projects out there, one is almost at a loss when trying to keep tabs on everything. That in itself is no real surprise, as information about most of these initiatives is incredibly difficult to come by. Bank of Canada, one of the more transparent entities in this regard, has announced it will commence the third phase of Project Jasper very soon.
Project Jasper Matters to Bank of Canada and TMX
It has to be said, Project Jasper is one of the more intriguing finance-oriented blockchain ventures in the world right now.
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Blockchain and tokenization are bringing to reality things that were never thought to be possible just a few years ago.
The idea of breaking down assets into little digital units that can be traded with market liquidity and deliver ultimate value to all parties involved is an innovation that is set to disrupt the real estate and physical asset market effectively.
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One of the most influential tech investors, Marc Andreesen, once opined that “software is eating the world“, but even he could not have anticipated the breakneck speed at which blockchain solutions would proliferate in 2017 to solve persistent consumer and business problems that previously seemed intractable.
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Do you remember that feeling when you read about a brand new company conquering the market, and one disturbing thought crossed your mind: why didn’t I invest in that? Truthfully, if you could go back in time, you’d have to dig through thousands of ICO whitelists and reviews to find and identify this dark horse.
This is a submitted sponsored story penned by Anton Dzyatkovsky, co-founder of MicroMoney.
The catch-22 is a paradoxical situation from which an individual cannot escape because of contradictory rules. The catch-22 of modern banking is that if you need a credit, you need a credit score, and to get a credit score you need a credit. Logically enough, banks have to spend hundreds of dollars to scrutinize potential client’s creditworthiness.
Traders restored a bit of stability to the crypto markets on Friday following a day of sideways trading. The bitcoin price and ethereum price each declined a bit less than 1% for the day, and most major altcoins experienced similar minor declines. However, no top 10 cryptocurrency moved more than 3%, providing the market with one of its calmer day-over-day performances in recent memory.
Chart from CoinMarketCap
Altogether, the cryptocurrency market cap shed about $1.
A Swedish government agency tasked for debt collection has successfully completed a bitcoin auction at above market rates.
First announced last week by the Kronofogden, Sweden’s ‘Enforcement Authority’, the Swedish government revealed its intent to sell 0.6 BTC, approx. 23,000 kroner ($3,200) at the time. The authority did not reveal the source of its bitcoin but local reports claimed that the Kronofogden obtained the cryptocurrency in assessing a debt against a company.
According to TheNational.ae, bitcoin adoption in Zimbabwe is seemingly skyrocketing as the country’s economic situation looks bleak. So much so, that one bitcoin is trading at nearly $10,000 on the Golix.io exchange, while the global average is, at press time, of $5,642.
Everybody who surfs the web loves videos. With just a click of the mouse, we can watch anything from profound lectures by world famous academics to a cat playing the keyboard. The distribution and consumption of video streaming is the main driver of internet traffic, accounting for a full 70% currently and expected to reach over 80% in a few years. Yet the platforms for social video networks have become stale and outmoded, which has led to a rise of new applications that look to change the landscape: View.
Not much is happening with the Bitcoin price right now. More specifically, we are seeing some sideways trading again, which is not entirely uncommon right before a weekend. That doesn’t mean we won’t see more Bitcoin price action over the next 48 to 72 hours, but it is doubtful the bulls will show up. For the time being, reaching US$5,700 remains out of reach for Bitcoin.
Sideways Bitcoin price Action is Boring
With virtually all cryptocurrencies remaining pretty flat right now, it is evident there is nothing to be terribly excited about whatsoever.
Most people are well aware of the proliferation of malicious Monero mining software and plugins. In most cases, such tools are embedded on various websites. The Pirate Bay, for instance, is doing exactly that. So far, the overall concept of in-browser Monero mining has garnered a very bad reputation. It turns out there is now a new type of malware which attempts to achieve a similar goal. WaterMiner is a pretty worrisome threat, to say the least.
WaterMiner Continues the Malicious Monero Mining Trend
In a way, no one should be surprised to find out there are many different projects focusing on mining Monero illegally.
Earlier today, on October 20, the Bitcoin price slightly declined from $5,720 to $5,650. But, within the past 48 hours, the Bitcoin price has surged significantly, as the market gained confidence over Bitcoin’s mid-term rally.
On October 18, the Bitcoin price plunged from above $5,500 to $5,120, as the entire cryptocurrency market endured a major correction.
As Russia prepares regulation for cryptocurrencies, one Russian official has said investments in bitcoin is worse than playing casinos.
Last week, an elite meeting of Russian financial officials and regulators convened with Russian president Vladimir Putin to discuss cryptocurrencies as financial instruments in the country. Putin acknowledged “cryptocurrencies are becoming or have already become a full-fledged means of payment, as well as a means of instrument” in several countries around the world.
As major banks reject the notion of bitcoin, many are turning their attention to the use of the blockchain.
According to an investment banker from European bank Credit Suisse, the ‘sky’s the limit’ for the technology.
James Disney, Credit Suisse’s global head of software investment banking, said that it takes 20 to 30 days to close and settle private equity transactions. Yet, with the blockchain this could be reduced to minutes.
Speaking with CNBC’s ‘Fast Money,’ Disney said:
If you add up all of our volume over the quarter, that’s hundreds of billions of dollars we’re able to free up and take out of the system to use for other purposes.
Whether you know it or not, unless you are using a VPN, almost every action you make online is recorded digitally. Facebook, Yahoo, CNN, Youtube and Amazon –to name a few– are all using algorithms to track users’ online behaviour, and using this data themselves, or selling it on to third parties, like advertising agencies.