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Ethereum blockchain is almost full. Any new user added to the environment causes a decrease in performance and an increase in transaction costs. Scalability is an issue, and it won’t be solved until next year, maybe, with the release of Ethereum 2.0. In the meantime, some companies which were launched in 2017 through Ethereum ICO’s are folding. The latest appearance of yet another “Satoshi” impersonator is spurring some worry in the Bitcoin field. Some go to the extreme of asking for the destruction of the Bitcoin stash owned by Bitcoin’s founder. It is almost $ 10 billion and it a weak spot for the whole coin. If those Bitcoins were to be sold altogether, they would make the market collapse.
The second “reveal” of the new “Satoshi Nakamoto” was a total disaster. It wasn’t even a PR stunt. The result was so miserable and embarrassing that the PR agency involved is probably going to be ridiculed for a while. Look at it if you want a good laugh, but it gives an idea of how desperate some people become to get attention. So we can archive yet another fake Satoshi and move on. Bitcoin in the meantime is recovering after the announcement that Bakkt will be able to offer derivatives.
Yesterday we were part of the “first reveal” of a new candidate at the official role of “Satoshi Nakamoto,” the inventor of Bitcoin. We have published our own analysis of the event and below you can see the more skeptical views of other media outlets. Today the second part of the reveal is expected at 4:00 EDT on the web site of Satoshi Nakamoto Renaissance Holdings.
Go to this web site today if you want to witness a three days revelation series which promises to reveal everything you want to know about Satoshi Nakamoto. A press release distributed on Friday by a company named Satoshi Nakamoto Renaissance Holdings, promises the real deal and not just another PR stunt. But many remain skeptical considering the great number of fake “Satoshi” which revealed themselves in the past years.
Investment institutions are pouring from $ 200 millions to $ 400 millions into crypto every week. Savvy investors pay a premium for virgin Bitcoins that have never been exchanged before. They are new and trendy. They are also rare and have never been used for illegal activities. Bakkt ready to launch Bitcoin futures trading which will be liquidated with actual Bitcoins and not cash. It signals a further commitment to crypto from the same company which runs the New York Stock Exchange.
One of the most promising and ripe blockchain markets is online gaming. Already accustomed to using virtual currencies within existing environments, gamers understand cryptocurrencies very well. Blockchain can solve many of the critical issues that trouble online gaming today, like the cost of micropayments, the protection and the exchange of virtual assets. Ethereum was initially born to address these issues. And the first killer app on Ethereum was a game. New protocols and new cryptocurrencies promise even better functionality and scalability. Bitcoin is resisting market fluctuations and has repositioned itself above $10K.
Job openings for blockchain experts remain very high in the US and growing compared to 2018. As of the end of July, 16,668 job offers have been posted on LinkedIn. Pension funds are headed for a major crisis. Blockchain and crypto analyst Adam Cochran shows analysis on how Bitcoin could fix it. Millennials are already buying crypto as a shelter for their retirement. Crypto-IRA funds already exist. Crypto markets go down a little now that the crypto war between the US and China has eased off.
Recent research by PwC shows that 84% of organizations are experimenting with blockchain technology. 52% of them are in the research and development stage. Governments are still lagging, but are catching up. Areas, where blockchain adoption makes sense, include data sharing and updating by multiple parties, customers verification/authentication; third-party integration; time-sensitive interactions and transactions. China projected to be the leader in the field between 2021 and 2023.
Research by Venture capitalist Tomasz Tunguz shows that Blockchain is the hottest investment field ever. Seed funding in the area has been growing exponentially in the last few years, and there is no end in sight. It beats even Artificial Intelligence and Big Data. Brave Browser and its attention token marketing are gaining traction. In the last twelve months, the number of registered publishers has grown 1,200%. Goldman Sachs predicts Bitcoin will reach the value of $ 13,971. Current Tether supply suggests Bitcoin is c
The People’s Bank of China (PBOC) is ready to launch its digital currency by the end of 2019. It has been under development for five years. It has been developed with a blockchain backend. But initially, it will not use a pure blockchain ledger to allow scalability. The project will be “ledger agnostic.” Litecoin’s development is moving much more slowly than expected. Charlie Lee, the founder of Litecoin, is absent from direct development and sold most of his coins at the end of 2017 when they had their highest value. There is little interest in the development community to contribute to the project. Litecoin is one of the oldest Bitcoin clones. Its main strength has a name which is very similar to Bitcoin. The two can be easily confused. Such confusion was exploited in 2017 by several scams and pyramid schemes in China. It contributed t to inflating its value at the time. The recent halving of the mining reward was expected to increase the value markedly, but it practically flopped.
Bitcoin Hash Rate Goes Parabolic – Sec Commissioner Wants the US to Be Best Place for Blockchain & MoreCryptoEnsemble Crypto Reports
Hester Peirce, US SEC Commissioner, tells that her agency is working hard to clarify regulations. They want to make the US the best place for blockchain and crypto. They are aware that companies are currently leaving the United States because of regulatory uncertainties. But things will improve. On the other hand, the SEC will still fight frauds and unregistered offerings. Bitcoin hash rate reaches incredible heights indicating that miners strongly believe in future growth in value.
Leading market research company IDC estimates an 80% growth of spending on blockchain technologies in 2019. The cumulative growth in the next five years will be over 60%. IT and business services are at the center of implementation — banks and manufacturing at the forefront. Blockchain has become a permanent feature of future developments both in the US, as well as Europe and China.
Bitcoin was born just ten years ago from a 9-page anonymous whitepaper. Today has accumulated enough value to be the 11th money source in the world. It is a vast and powerful grassroots movement that developed by itself without the need of corporations, marketing budgets, and management. The network activity around this dominating cryptocurrency has reached its highest value of 80 quintillions (billions or billions) hashes. It is the amount of computing power used to validate a Bitcoin transaction. A hacker would need to wield an incredible amount of power to hack such a network. Investors throughout the world are increasingly considering it a safe haven to hedge against the uncertainties of trade wars and currency manipulation. Ethereum, the second-best cryptocurrency up to last year, doesn’t keep up leaving Bitcoin to dominate the field.
China and Russia are leveraging Bitcoin as a way to avoid US sanctions. Chinese government hackers are explicitly targeting crypto companies in France, India, Italy, Japan, Myanmar, the Netherlands, Singapore, South Korea, South Africa, Switzerland, Thailand, Turkey, the United Kingdom, the United States, and Hong Kong. In the meantime, law enforcement efforts are stepping up in the US, targeting ICO’s frauds and violations. 130 new investigations have started since the beginning of 2019.
Bitcoin has increased its dominance on the market to a percentage which is consistently above 65%, and some say it is even 75%. The value of BTC now hovers around $ 12,000, and the current US-China trade was is likely to facilitate further increases. Big Tech companies have left a lot of money on the table in the stock exchange, while Bitcoin is rising as the alternative against trade and political turmoil. Many Altcoins are likely to disappear before the end of the year, but Ethereum appears to stand its ground. It has built a following and a market of its own separate from the Altcoin mix.