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Friday, October 27, 2017

Cryptocurrency News for 27 Oct 2017

 

More Rumors Amazon Could Accept Bitcoin as All Eyes on Conference Call

More Rumors Amazon Could Accept Bitcoin as All Eyes on Conference Call

 

Further rumors are surfacing that Amazon will announce a Bitcoin-related innovation Thursday, as a German newspaper fuels speculation.

In an article Tuesday, Die Welt reported that fintech sources in Silicon Valley were echoing previous hints from investor James Altucher that the global giant could soon integrate Bitcoin as a payment option.

Altucher made the comments in a report last month, citing Thursday’s conference call as a D-Day moment for Amazon and Bitcoin.

Ahead of the call, which anyone can listen to, momentum that the rumors actually hold substance are mounting.


Full story at http://bit.ly/2i942Fm


Source: CoinTelegraph


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Coinbase Plans to Call the Fork With the Most Accumulated Difficulty “Bitcoin”

Coinbase Plans to Call the Fork With the Most Accumulated Difficulty “Bitcoin”

 

The bitcoin network may fork in a few weeks on or around November 16 at block height 494784. Many bitcoin-based businesses have been revealing their plans for the upcoming Segwit2x fork, detailing how they will handle a possible split, and how they will determine the name of each token. The San Francisco-based company Coinbase is a business everyone is watching closely, because it has millions of users and processes a lot of bitcoin transactions. On October 23, the exchange revealed how it would proceed with the blockchain labeling, on its frequently asked questions (FAQ) section.

“Following the fork, we will continue referring to the current bitcoin blockchain as Bitcoin with the symbol ‘BTC’,” explains Coinbase. “We will refer to the new blockchain resulting from the fork as Bitcoin2x with the symbol ‘B2X’. If the Segwit2x change is accepted by most users, we may choose to rename these blockchains at a later date.”

However, the FAQ section has since been edited, and there is a new clarification written. Now the company’s Segwit2x guidelines explain the labeling a touch differently as the FAQ states;    

"[EDIT] At the time of the fork, the existing chain will be called Bitcoin and the Segwit2x for will be called Bitcoin2x. Ultimately, we will call the fork with the most accumulated difficulty Bitcoin. We will wait for a period of time after the fork, before finalizing the naming."


Full story at http://bit.ly/2i7U9aZ


Source: Bitcoin News


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Back Above $5,500: Bitcoin Shrugs Off Fork with Price Rebound

Back Above $5,500: Bitcoin Shrugs Off Fork with Price Rebound

 

At press time, the bitcoin-US dollar (BTC/USD) exchange rate is $5,540, up 3 percent from the intraday low of $5,376, but still down 2 percent on a daily basis. Week-on-week, BTC is trading largely unchanged, while on a monthly basis, it is up 41 percent.

But, it's perhaps the daily recovery that is most notable. While slight, it can be read as encouraging as it follows the news that bitcoin gold, a new publicly traded copy of the bitcoin network was made available to investors on exchanges yesterday. While the asset is not yet issued by developers, many exchanges made IOU versions of BTG available, putting sell pressure on the market and spurring buying elsewhere.

Yet, it does not seem that new bitcoin buyers are in a rush to exchange these phantom BTG tokens for fiat currency, and the recovery suggests more new money could be entering the BTC market at a price they feel is attractive.

So, is bitcoin heading back towards record highs?


Full story at http://bit.ly/2i9CU9d


Source: CoinDesk


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Distributed Denial of Service Attack Greets Forked Bitcoin Gold on First Day

Distributed Denial of Service Attack Greets Forked Bitcoin Gold on First Day

 

Bitcoin block height 491,407 was reached 23 October, more than a day earlier than anticipated, triggering the so called Bitcoin Gold hard fork. It is the second such fork of its kind since August, and another is predicted mid-November, Segwit2x, at block 494,784.

Not long after celebrating block height 491,407, the Bitcoin Gold (BTG) team noticed 10 million hits per minute clogging up its web traffic requests. BTG’s Slack channel later attributed most of the hits to internet protocol (IP) addresses routed through China.

It was a clear a DDoS campaign was used against the site, which rendered it essentially unavailable for four hours, causing numerous reports about either the team’s inability to insure against such basic attacks or the team’s lack of knowledge in critical areas of website security.

DDoS attacks are fairly routine, and many markets exist to facilitate those who wish to disrupt a company or group’s online activities. For under 200 USD, robot networks (botnets) can be had in the service of DDoS attacks. Smaller organizations are especially vulnerable.


Full story at http://bit.ly/2i9CRKz


Source: Bitcoin News


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2017 Will Be Remembered As The Year Of Bitcoin

2017 Will Be Remembered As The Year Of Bitcoin

 

In January 2016, an anonymous user posted the following question on Quora: Does it still make any sense to buy Bitcoin in 2016? The price of Bitcoin then was below $400.

My answer then was yes, but it wasn’t that I was religious about Bitcoin or had tools to analyze it quantitatively. To me, Bitcoin was just a very promising early stage startup.

All VC investors know that it’s the early stage where the big multiples are (alongside the high risk, of course). No matter how bullish you are about Facebook’s future today- you can never hope to match the 800x return of Accel Partners who invested in Facebook’s series A.

Back then, I theorized that Bitcoin was likely to disappear or lose value over time. But I thought it made a fantastic investment for the small chance it would ever reach the financial mainstream. Real estate investors hardly relate to this “funny math”, but for venture capitalists it’s the bread and butter.


Full story at http://bit.ly/2i9bJLG


Source: Forbes


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Tezos Derivatives Crashes Amid Management Infighting after $232 Million ICO

Tezos Derivatives Crashes Amid Management Infighting after $232 Million ICO

 

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.

Initial coin offerings (ICOs) have exploded in 2017, and the Tezos ICO rode that wave to a then-record $232 million ICO in July. According to some estimates, that stockpile has appreciated to $400 million as a result of the crypto market’s rising tide, meaning that Tezos should be positioned to devote unprecedented resources to the development of its “self-amending cryptographic ledger”.

However, as an investigation by Reuters reveals, this mammoth crypto war chest could not prevent management infighting from derailing the project — and it may have even contributed to the problem.

According to Reuters, Tezos management is rife with infighting. The platform’s inventors, Arthur and Kathleen Breitman, founded a company that develops — and owns — the Tezos code, as well as all associated intellectual property. However, they set up an independent Swiss foundation to manage the ICO and maintain the funds, the plan being that the foundation would eventually purchase the company from the Breitmans and their other shareholder — venture capitalist Tim Draper — for approximately $20 million. This is in addition to the 10% stake the shareholders will receive from the total supply of “tezzies”.


Full story at http://bit.ly/2i8szum


Source: CryptoCoinsNews


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