BitMEX To Compete With Bitcoin Core

CrowdConscious

Published in

The Cryptoverse

6 min readOct 22, 2018

Chris Coney’s ‘The Cryptoverse’ crypto podcast curation by CrowdConscious.

On Today’s Episode of The Cryptoverse…

I have hand picked another 5 top crypto news stories for the day as well as one chart of the day which will be XRP. Stories today include

The all new Brave browser ready for download
BitMEX to create a new software client to compete with Bitcoin Core
My first Augur prediction market is now live
The Hungarian central bank just increased its Gold reserves by 1,000%
And the Monero upgrade to Bulletproofs has been completed successfully

Watch the episode right here in the article!

Episode Transcript, Notes & Links

The All New Brave Browser Has Launched

https://brave.com/new-brave-browser-release-available-for-general-download/

22% faster than the previous version this was previously the experimental developer version that I spoke about which is now available for regular users.

When I downloaded it I got 25 BAT deposited into the browser wallet so I could immediately begin rewarding sites that were having their ads blocked.

If you decide to download it let me know in the comments if you got the tokens as well. You can then donate them to me if you like :).

Unfortunately, after playing with it for a while, I still can’t make it my default browser because I use the TTS Reader extension and while the free version is available in the app store, and it works, I have the premium version which Brave won’t let me access so far.

Sponsorship Slot

If you would like to earn crypto rewards for watching Chris’ videos then visit TheCryptoverse.show and then click on the “Get Paid To Watch” button, then there’s a 2 minute video that explains how it works.

Continuing With The Show!

BitMEX Research To Create A Client To Compete With Bitcoin Core

https://blog.bitmex.com/bitcoin-cores-competition/

Now it says complete but I don’t believe they are intending to be contentious.

For example they say here:

“We also explain that if the Bitcoin Core repository becomes hijacked by nefarious actors or deleted, Bitcoin should be largely unaffected.”

This misconception is that Bitcoin Core have a stranglehold on Bitcoin’s development and are a central point of failure. BitMEX intend to challenge that belief.

If you are on the BitMEX mailing list you will have no doubt experienced their very high quality research which they provide periodically. This article is no exception.

I invite you to read this yourself because it’s not like a regular news story where the headline tells you 80% of what you need to know, this is a much deeper issue.

The bottom line is that BitMEX are doing this to overcome the criticisms of people outside the crypto space, rather than trying to take control of territory inside the crypto space.

They say explicitly that what they are embarking on “is for illustrative purposes only”.

This will ultimately reduce anxiety levels in the Bitcoin space, especially any that comes from the concern as to what would happen if someone hacked into the GitHub account of Bitcoin Core and deleted all the code.

BitMEX intend to demonstrate that Bitcoin just doesn’t work like that.

My First Augur Prediction Market Is Now Live

https://127.0.0.1:8443/?augur_node=ws%3A%2F%2F127.0.0.1%3A9001&ethereum_node_http=https%3A%2F%2Fgethnode.com%2Fhttp&ethereum_node_ws=wss%3A%2F%2Fgethnode.com%2Fws#/market?id=0x66dca43960afabdde807176ce7aae51e99dd8127

I finally got my Augur software synced and created this market.

You may notice the address looks a bit funny because my browser is referencing the Augur node running on my local computer.

However there is a site that allows you to browser Augur on the web…

https://predictions.global/augur-markets/will-conor-mcgregor-and-khabib-nurmagomedov-fight-again-in-an-official-ufc-match-before-00-00-01-on-1st-january-2019-0x66dca43960afabdde807176ce7aae51e99dd8127

Unfortunately…

https://dappradar.com/dapps?search=augur

Augur ranks number 76 on Dapp radar with just 27 users in the last 24 hours.

That does not bode well for my prediction market being successful.

The experiment cost me about $100 to do, but I’m happy I did it because I feel the most confident reporting to you when I’ve actually got a direct experience of something.

At this point I can’t see Augur taking off within the next year. So if you are invested in the REP token you might want to do this same experiment and decide if you want to HODL.

I’m just gagging for someone to duplicate Augur on the eosio blockchain, but you probably knew that already.

Hungarian Central Bank Announces 10-Fold Jump In Gold Reserves

https://www.zerohedge.com/news/2018-10-16/hungarian-central-bank-stuns-announces-10-fold-jump-gold-reserves

Hungary is not the first to begin building up it’s Gold reserves, however I would say they are the first to do it so overtly, usually countries do it as secretly as possible.

I mean they even bothered to publish a press release about this so they definitely want everyone to know about it.

The Hungarian central bank had not altered it’s Gold reserves since 1986.

Up until recently they had 3.1 tonnes of Gold, that’s now increased to 31.5 tonnes and they have taken physical delivery of it.

This is the most Gold Hungary has held in 70 years.

Here is my favourite part of their press release though:

“Gold is still considered to be one of the world’s safest assets, whose characteristics can be attributed to gold’s unique properties such as finite supply of physical gold, and lack of credit and counterparty risk given that gold is not a claim against a specific partner or country.”

Ding, ding, ding, no counterparty risk.

What’s the only other asset class with this characteristic? Cryptocurrency.

According To Everything I’ve Seen The Monero Hard Fork Went Flawlessly

https://oracletimes.com/monero-becomes-the-first-billion-dollar-coin-with-bulletproof-technology-for-reduced-costs-and-80-smaller-transaction-size/

I mentioned recently that the Monero developers were about to upgrade Monero to use bulletproofs and that has now happened.

As a result transaction fees have dropped dramatically.

Also, one thing that seems to have slipped by me is that the Ledger hardware wallet does now support Monero.

If you download the Monero core software, one of the setup options is to create a new wallet using a hardware wallet.

If you browser the Ledger manager software you’ll see there is a Monero app you can install on the Ledger device. I’m now in the process of setting that up.

I’ve been saying for the last year that as soon as Ledger supports Monero I’ll start increasing my Monero holdings, which is now what I intend to do.

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