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The price of Bitcoin has captured the headlines this week, once again falling to annual lows and placing the market crypted on the edge of the sinking to under $ 100 billion for the first time in 2018. However, c & # 39 it was much more than price action, and, as usual, largely involved the drama in the field of Bitcoin Cash.
The lawsuit targets Bitcoin fund proponents
Another week, another cause.
This week saw the launch of a pioneering case against the owners of Bitmain and Bitcoin.com, Jihan Wu and Roger Ver, both in the personal name and the company, as well as the Kraken exchange. A lesser known blockchain company that entered the space about a year ago believes that Roger Ver and the others named in the suit have actively worked to centralize the Bitcoin Cash network during the hard fork at the end of last month, and as such responsible for the damage done to their activity. The company, UnitedCorp, mainly deals with miners with efficient equipment. There is a follow-up history from P. H. Madore of CCN.
Obviously, from the other side of the fork, the feelings were less enthusiastic:
After being losers, Calvin and Craig are now trying to manipulate the cryptocurrency community with threats and lawsuits. Guys, you've probably chosen the worst goal in the world for that. There will not be enough popcorn available to see it go down. https://t.co/jpRh1ZQ6QL
– Olivier Janssens (@olivierjanss) December 8, 2018
Bitcoin SV Rising and Terabyting
Bitcoin SV has briefly overtaken Bitcoin Cash in terms of price and therefore market capitalization during the week, although it has quickly faltered while the market has done repeatedly on the whole. This elastic movement is often seen in the markets when people wait to download. Too good can be followed by a truck loaded with bad guys, but the price of Bitcoin SV seems to have stabilized at around $ 10 behind Bitcoin Cash ABC by the end of the work week. Crypto is trading 24 hours a day, 7 days a week, and at the time of its publication Bitcoin SV was 60 cents ahead (again with a marginal advantage).
In other news on Bitcoin SV, that if the initial indicators are a sign, there will be a lot of things as we move forward, Craig Wright seems firmly convinced that the blocks will regularly reach 1 TB. He confirmed this belief with a forecast of mining profitability much later in the week on Twitter.
All this while Bitcoin SV is one of the least profitable Bitcoin mines.
In the next 2 years, the BSV miners will earn due to taxes, such as a commodity ledger.
Not market speculation.
$ 12,000 a block plus tax
So 10 times that
Over time, a block will be only $ 500,000 in taxes
– Dr Craig S Wright (@ProfFaustus) December 7, 2018
Bitcoin's liquidity developer clashes with the Heart of Fork debate
One of our most popular and not-to-be-missed articles from last week was our coverage of Bitcoin Cash developer claims regarding the health of the Bitcoin ABC community and ecosystem. This journalist wrote:
"The anonymous contributor is sincere and dedicated to his resolute cause, the article begins by stating that he has never met any developer in person and therefore has never been influenced by anyone, he simply wants to" build what Bitcoin needs " and be judged "on what he builds".
The feelings of _unwriter seemed to arrive before the price of Bitcoin SV exceeded that of Bitcoin ABC, and at least one of the main causes was launched.
Beijing says no to the security tokens
The Beijing authorities have said that security tokens and their supply in the capital of the country with 1 billion and more will not be tolerated. Conor Maloney from CCN wrote:
"While the Chinese authorities maintain their firm position on fundraising, other governments are more open to the STO fundraising, leading to many blockchain forms to abandon the somewhat disgruntled ICO method for its legally compliant relative." With large companies like Indiegogo which hosts STO, the method is perhaps intended for greater longevity compared to the ICO approach, which has been fraught with disasters through scams, failed projects and bad press. "
Facebook wants on Blockchain
This week the speculation has arisen that Facebook is probably working on the most used blockchain application of the future. Bitcoin frequentator and professional financial analyst Anthony Pompliano said: "I bet Facebook builds the most used cryptography product".
CCN journalist David Hundeyin wrote:
"Meanwhile, Facebook has continued to recruit blockchain developers to join its growing blockchain team: David Marcus, head of Facebook's blockchain division, recently resigned from his position on the board of Coinbase, citing a new conflict of interest , fueling the speculation that the company is planning to launch a cryptocurrency project, which would have no precedents in terms of potential scale offered by access to the 2 billion + users of Facebook. Others, however, believe that Facebook you are simply joining the Silicon Valley bandwagon and do not actually have any kind of well-defined or feasible cryptic implementation project to build on. "
HTC launches the FINNEY competitor
The era of the mobile blockchain is upon us. Last week, CCN sent our assistant editor Josiah Wilmoth to Spain for the launch of the FINNEY phone, and this week HTC unveiled its competing phone, Exodus.
From our report:
"From the visual point of view, Exodus 1 is at first sight much more elegant than FINNEY, even if, unlike the Sirin Labs device, it does not seem to have a real preservation portfolio. ; Exodus 1 stores private keys in a protected enclave called Zion, which isolates them from the rest of the operating system, although perhaps less secure than cold storage, it is a significant step forward compared to software portfolios, both or unattended, where most mobile users currently store their cryptocurrency funds. "
Arise Bank CEO arrested
CCN has dug a little more into the story of Jared Rice, the CEO of Arise Bank, who was initially accused of fraud for mobilizing investors in his blockchain product range and spending the money for his personal lifestyle and personal problems, and he discovered that he had a history of fraud and domestic violence.
Bitcoin trader approached the macabre crime
A Bitcoin merchant in South Africa has discovered how much greed will drive people after he has been drugged, abducted and severely beaten. From Jimmy Aki of CCN:
"It is said that he went to the hidden residence at about 1:00 pm to conduct the presentation to a public of six people, according to him, one of these people snuck up on him from behind and stuck a cloth in his face, presumably drenched in a drug that made him unconscious, and later, after recovering from the influence of drugs, he woke up in a completely different residence, where he was surrounded by five people – two women and three men. "
Negativity of the breed of negative prices
Some anti-Bitcoin rumors emerged with some degree of clarity as the market continued to struggle over the week. Ehud Barak, former Israeli prime minister, has called him a Ponzi scheme. A former blockchain analyst became disillusioned with blockchain technology, while a finance professor said Bitcoin entered a deadly spiral.
On the Ethereum front, the billionaire investor Joseph Lubin said the price is not of great concern because adoption is growing.
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