Sankalp’s Blockchain & Bitcoin Snapshot — Issue #11

Sankalp Shangari
Aug 24, 2017 · 4 min read

SegWit adds layers so people can develop all types of new protocols for updates and complex smart contracts without tampering with the foundational technology connecting the whole network. “It’s a major milestone in the bitcoin community, We’ll all be drinking champagne tonight.” — Elizabeth Stark


Your Bitcoin Wrap Up:

Continuing on mining form our last newsletter , its been again a fascinating week with BCC and BTC clashing once again. Traders and investors are now getting fed up and starting to look beyond that and the upcoming November “fork”. SegWit is now active on Bitcoin and a real than you to everyone in the community, especially the bitcoin org for developing it. What does that mean?

SegWit allows the block size to go to 4 MB and allow for large scale scaling. That means about 12 transactions from current about 6, depending on the type. New layers can be added and be scalable beyond imagination — possibly become the largest banking network, sooner than later. Visa are you listening?

I always say this — you are your own payment network, you are your own lender, you are your own Insurance issuer, you are your own BANK. This takes us all a step closer.

Now a bit on the upcoming fork in November called segwit2x that could lead to yet another split in the bitcoin blockchain this November. Hold your BTC tokens, there could be a blip, yes, and more fighting communities, but isn’t this all for the greater good of this revolutionary technology? Segwit works on old nodes as well, segwit2X doesn’t. Simple. It may or mayn’t happen at all. But never rule out the craziness in this market.

Video of the Day

Top 10 Fascinating Blockchain News

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Reputation Pays: How Blockchain Is Monetizing Human Abilitycointelegraph.com
Reputation Pays: How Blockchain Is Monetizing Human Ability

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Coi 09 01 17 opener alternate1

Bitcoin: Hacking Coinbase, Cryptocurrency’s ‘Goldman Sachs’ | Fortune.comfortune.com
As Bitcoin and Ethereum prices rise, they’ve become a target for hackers and thieves. Here’s how Coinbase and other firms are fighting back.

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Bitcoin theft 1000x600

Cybercriminals Hijack Phone Numbers | PYMNTS.comwww.pymnts.com
Fraud news: cybercriminals are stealing consumer phone numbers and using the access to reset the entirety of a consumer’s online life and to steal bitcoin.

Estonia
Estonia

Estonia’s State Funded e-Residency Proposes an Ethereum Based ICO and Tokenwww.trustnodes.com
Kaspar Korjus, Managing Director at e-Residency — developed by a state-owned foundation called Enterprise Estonia — stated they are proposing the issuing of an Initial Coin Offering (ICO) together with a token.

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2017 2f08 2f23 2f45 2f68f7c3df85b4412489c8b1991bbf7efd.4d26b

A power struggle erased billions of dollars off Bitcoin, and it’s about to get worsemashable.com
Trouble is brewing in Bitcoin land.

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170808 bitcoin delaware jhc 0955 1256bbd12e03498a821ac599224373fe.nbcnews fp 1200 800

Middle America Is Crazy in Love With Bitcoin — NBC Newswww.nbcnews.com
In May, there were more searches for Bitcoin than Beyonce. Cryptocoins are going mainstream as the middleclass wants in on the “Wild West” action.

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Mc

John McAfee Raises $2.4 Million to Expand Bitcoin Mining Operation — CoinDeskwww.coindesk.com
The financing for MGT Capital came as a result of a 10 percent convertible note issued to a firm called UAHC Ventures LLC. The funding, according to statements, will be used to expand MGT’s bitcoin mining operations in the northwest US, where plentiful hydropower has attracted more than a few miners.

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Img 3703

China’s bitcoin mining scene is catching the eye of the governmentwww.techinasia.com
As China’s large-scale bitcoin mines partner up with the government, the days for smaller players could be numbered.

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1.018 bitcoin correlation with other financial assets

What is Bitcoin’s Correlation With Other Financial Assets? — Signal Plotwww.signalplot.com
I’m strongly considering entering into a substantial investment in bitcoin as part of my passively managed, fully long portfolio. Before I do that, I decided to look into two questions regarding bitcoin’s role in a portfolio:

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Segwit acti.max 800x800

Segregated Witness Activates on Bitcoin: This is What to Expectbitcoinmagazine.com
The Segregated Witness (SegWit) soft fork has activated on the Bitcoin network.As of block height 481,824, found at 1:57 UTC by BTCC, all SegWit ready nodes …

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Sankalp Shangari

Written by

CEO & Co-Founder COSS Crypto One Stop Solution

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