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The Ethereum network returns to normal by increasing capacity to 10 million gas units. The change is within miners’ authority and has given some breathing space to the congested environment. Pending transactions went from 120,000 to about 70,000 with no increase in the total number of daily transactions, 60% of which is absorbed by one gambling Dapp. Ethereum remains the primary choice for developing distributed applications with 5 times more activity than its competitor EOS. The third competitor, TRON, announced a new plan for its proof of stake mechanism. The objective is to distribute revenues and increase engagement in the community.
Flash Purchase Of Bitcoin From Lightning Network Now Possible. Saving On Cryptotaxes By Moving To Puerto Rico & MoreCryptoEnsemble Crypto Reports
The creators of the ZAP Bitcoin wallet have built a new tool for instantly purchasing Bitcoin and charging it to your bank account without leaving the Lightning Network. The instant delivery allows micro-purchases in Bitcoin to happen within seconds and with little expense. You won’t have to go through an exchange and KYC (Know Yor Customer) regulation procedures are kept to a minimum. More crypto-investors are moving to Puerto Rico to avoid or reduce tax consequences. In this article, you get all the pros and cons, plus the way to go about it.
NBA champion Spencer Dinwiddie plans to convert his $34 million contract into digital tokens. He will receive a lump sum payment while investors will be able to invest in the contract by purchasing the digital asset. This trend will probably be followed by other athletes and opens the door to better financial management for them. Statistics show that 60% of NBA players end in financial distress within five years of leaving the league. And 78% of NFL players go broke two years after their final contract has expired. By building a tokenization strategy based on a Smart Contract, athletes could get periodic payments of their money which could last for many years after their career is over.
Step Back For Bitcoin And Institutional Investors. Yet Likely To Increase In Value With New Quantitative Easing By The Fed.CryptoEnsemble Crypto Reports
Solid X and VanEck have withdrawn a proposal for a Bitcoin Exchange Traded Fund (ETF). The SEC was expected to decide on the matter by October 18. The effort of creating a Bitcoin ETF has been going on since 2013. An approved exchange of this sort would provide a convenient environment to invest in Bitcoin for institutional players. At the same, the projected $75 Billion liquidity pump announced by the Fed is likely to boost Bitcoin’s value.
Wells Fargo joins the bandwagon of banks issuing their digital cash. Other recent examples have been UBS and JP Morgan. Bitcoin’s value has been fairly stable recently to the point that traders are getting “bored”, but this is a good sign for long term investors which increasingly trust the major cryptocurrency. Ethereum is recovering in value, although it is still well below the level of a few weeks ago. It is definitely attracting more attention from day traders.
XRP Fork Attempt Will Likely Fail. Ripple-backed Startup To Give Away $ 100 M To Content Creators & MoreCryptoEnsemble Crypto Reports
A forking of XRP, the third cryptocurrency by market capitalization, would likely struggle to gain traction. An influencer is trying to mobilize his 102,000 followers into splitting from the primary asset because of disagreements with Ripple’s management. Ripple is the company now managing XRP and which is promoting its presence on exchanges and banks. Even if a fork were technically possible, it would be challenging to administer it and get it accepted by exchanges and institutions. In the meantime, Ripple is offering $ 100,000,000 through one of its connected startups to content creators that can help involve XRP in Web monetization projects.
Bitcoin Is The Most Extraordinary Bubble. Central Banks Meet With Libra Founders In Switzerland & MoreCryptoEnsemble Crypto Reports
Bitcoin bubble formula is unique: every new growth cycle has a much broader expansion than the previous one. The percentage change in value keeps multiplying from one cycle to the next. People are tired of predictions and hearing that Bitcoin or any other cryptocurrencies are going to increase in value. Day to day speculation is becoming less popular, but historical trends are quite positive. People investing in Bitcoin long term have a much better chance of getting positive results. In the meantime, the Libra Consortium is trying to establish a safe environment in Europe, by meeting with officials from the European Central Bank and of other 25 global central banks.
Square Crypto, the cryptocurrency division of the mobile payment company Square, has created a grant to promote Bitcoin. The BTCPay Foundation got $ 100,000. It will use them to develop open-source software which will improve the security, scalability, and fungibility of Bitcoin. The objective is to transform Bitcoin into an everyday currency. Chainlink plummeted after ascending very quickly in the previous months. Analytics company finds signs of a pump and dump scheme. The usefulness of the service itself is in question.
Bitcoin Hashrate 8 Times Since $ 20k Peak. Buterin Supports Activist Crypto. XRP Fork Discussions & MoreCryptoEnsemble Crypto Reports
Bitcoin hashrate keeps climbing thanks to higher efficiency mining equipment and lower electricity costs. It measures the computing power required to validate blocks and secure the network. The current value is 98 exahash, which means billions of billions of mathematical computations. All miners are competing to secure as many Bitcoins as possible before the halving in mid-2020. By then, the reward for mining one block will be halved, and miners appear confident the value of Bitcoin will increase before we get there. Some miners claim they have already sold enough Bitcoins to pay for operations up to that date. Now they are just competing with one another. Buterin supports a new cryptocurrency called Sparkle created by social activist Micah White, one of the co-founders of Occupy Wall Street. It is claimed to be the first redistributive currency, and it tackles the same problem that Occupy Wall Street tried to solve by using Ethereum. When someone rich spends Sparkle, the poor receive their share. After warning Ripple to stop selling XRP and dumping its value, the crypto influencer Crypto Bitlord is starting a forking project for XRP.
Ethereum Classic Hard Fork Successful But Little Gain. Mixed Signals For Bitcoins And Altcoins. Binance Coin Tumbles & MoreCryptoEnsemble Crypto Reports
Ethereum Classic managed to execute its Atlantis hard fork within the scheduled time. The value gains very little despite the expectations. The Ethereum network is flooded with low-value transactions that clog it. Bitcoin’s value is hovering around $ 10 K with limited volatility. Litecoin hashrate has dropped 40% following a reduction in block rewards. The halvening happened on August 5th produced an inverse price action, surprising most investors. The Binance Coin (BNB) is one of the most obvious losers in the last ninety days.
Bitcoin loses volatility while mining difficulty metric is through the roof. International trading impacted by the new Financial Action Task Force guidelines. Tether clogs the Ethereum network with 100,000 transactions in 7 hours, forcing other transactions to remain stuck for hours or even days. Users are calling for block size and gas fee increases. Facebook applies for payments license in Switzerland, but Libra doesn’t cut it. The controversial stablecoin will have to meet additional requirements.
Sudden resurgence of activity on the Ethereum front. Microsoft announces it will use hubii scaling solution for its Azure platform. At the same time, official Ethereum developers announce that the development of version 2.0 is moving faster. Interoperability is proven between clients written in different programming languages. Finally, the cryptocurrency exchange OKEx has announced support for the coming Atlantis hard fork of Ethereum Classic. Its will ensure compatibility with Ethereum and improve functionality and stability.
We have already mentioned the fact that people’s trust in crypto companies investments has markedly declined. Unfortunately, the ICO scam era of 2017 has left many victims. And some of the shady practices are still continuing today in IEOs. The phenomenon is so great that it has been even publicly mocked in a web site offering a totally useless Ethereum token and making money in the process. So we offer some basic and simple advice on how to avoid bad choices and invest only in those projects and companies which have a bona fide purpose and a workable team.
XRP investors grow more concerned about the excessive control exercised by Ripple. One petition with 3,500 signatures urges the company to stop selling its tokens. A “Stop Ripple Dumping” campaign has gone viral on Twitter. David Schwartz, Ripple chief technology officer, replies telling that investors will be massively disappointed if they believe the company will pull back. Ripple owns 60% of the total supply of XRP, and every month it sells a sizeable portion of them, preventing the price from rising. Private investors are getting incensed.
Initial Exchange Offerings were expected to replace Initial Coin Offerings by providing a more reliable platform for investors. ICO offerings have been the rage of the crypto market in 2017 and some of 2018. Investor abandoned them because they were full of fraud and worthless projects. IEOs were supposed to breathe new life into the private crypto investment market in 2019. But, after a quick start, they have fizzled in the second quarter. The three main problems appear to be: many investors don’t believe anymore in the value of projects based on utility tokens. They have already lost plenty of money on the ICO wave of 2017-18 and are still losing. Regulatory uncertainty enters very high liabilities in the field. No reliable data are available on the actual amount of money invested in IEOs.