Sankalp’s Blockchain & Bitcoin Snapshot — Issue #11
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
Reputation Pays: How Blockchain Is Monetizing Human Ability — cointelegraph.com
Reputation Pays: How Blockchain Is Monetizing Human Ability
Bitcoin: Hacking Coinbase, Cryptocurrency’s ‘Goldman Sachs’ | Fortune.com — fortune.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.
Cybercriminals Hijack Phone Numbers | PYMNTS.com — www.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’s State Funded e-Residency Proposes an Ethereum Based ICO and Token — www.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.
A power struggle erased billions of dollars off Bitcoin, and it’s about to get worse — mashable.com
Trouble is brewing in Bitcoin land.
Middle America Is Crazy in Love With Bitcoin — NBC News — www.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.
John McAfee Raises $2.4 Million to Expand Bitcoin Mining Operation — CoinDesk — www.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.
China’s bitcoin mining scene is catching the eye of the government — www.techinasia.com
As China’s large-scale bitcoin mines partner up with the government, the days for smaller players could be numbered.
What is Bitcoin’s Correlation With Other Financial Assets? — Signal Plot — www.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:
Segregated Witness Activates on Bitcoin: This is What to Expect — bitcoinmagazine.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 …
