Bitcoin Cash will be Hardforked Whether we Want it or not
Or so is the plan of a group of Bitcoin enthusiasts called BitPico.
They want to seize control over the entire network by implementing a 51% attack in the coming
months. It appears the group has some personal score to settle with the chief BCash proponent
Roger Ver who’s convinced that Lightning will not help the original Bitcoin network as a
solution to the scalability problem.
BitPico has been pretty active on Twitter this month, and they use the platform to coordinate
Will this stress test threaten the very existence of BCash? We’ll find that out very soon.
U.S. Law Enforcers Have Busted a Money Laundering Scheme they
Heads will roll now that a year-long effort to combat money laundering by several U.S.
government agencies has paid off. A complex net of illegal vendors on the Darknet was brought
to justice thanks to collaboration between the Secret Service, the Department of Homeland
Security and a few other interested parties. Such businesses are one of the major threats to the
country’s financial infrastructure, because they were operating with virtual currency, says U.S.
Secret Service Assistant Director Jenkins.
Multiple arrests were followed by the seizure of goods worth over $23 million. These included
all kinds of illegal substances, firearms, mining hardware and nearly 2,000 bitcoin.
Institutional Capital Keeps Moving into the Crypto Industry
For Cirlce, the company running the Circle Trade platform, this bearish market hasn’t been that
bad. In fact, things are going so well that this May the profits were up by 30% due to institutional
The platform is evolving towards more automation, so the costumers can place high frequency
orders without interacting with an actual human broker. For example, until this week, Circle
employees had to manually quote a price over a messaging platform, then authorize trades that
are over $100,000. Now the platform is ready to handle this challenge.
Some crypto enthusiasts have argued that more buy-in from the institutional investors would
help the crypto asset recover, thus reviving the market. But will it happen, if more big players
come into play? This is something everyone wants to be the case.
Blacklisting Spree of EOS Block Producers Might be Coming to an End
Since its launch earlier this month, the EOS network has been actively picked on by all sorts of
critics inside as well outside of its community.
And it’s no wonder – the history of the EOS mainnet began with an unfortunate system failure
that caused the network to pause for several hours. Then another major problem came up – the
chosen governance model of the net gives too much authority to the block producers. This model
is outlined in a document called “Constitution” and it’s been getting a lot of controversy recently,
because it justifies the block producers banning everyone, if they think they’re acting strangely.
As a consequence, the price of the token has been dropping methodically ever since.
Eventually the network’s architect Daniel Larimer has proposed a new Constitution that he
believes will suit everyone. His announcement posted on Telegram has given an impulse to the
token’s price, so it bounced up about 8% yesterday night and is now trading at $7.84.
The Tension around Binance Maintenance is finally over
One of the leading exchanges Binance was unavailable for traders on June 26 due to a system
upgrade that was supposed to take 4 hours to complete. However, the maintenance team had to
extend the process and this delay brought more anxiety to the users. In the end, the lockdown
lasted for more than a couple of days, which is understandable, since no exchange would want to
compromise their funds’ safety. This is their number one priority and even more so after the
recent hacks of several South Korean exchanges.
We know that Binance is currently handles around $1 billion in daily trade volume, so in the
worst case scenario it would make a pretty headline.
Luckily for all of us Binance went live again yesterday, so deposits, withdrawals and trading
have been resumed.