Day: October 11, 2017

A first-of-its-kind investment product focused on the cryptocurrency ether is set to make its debut on the Nasdaq Stockholm exchange.

In an attempt to support the development of a blockchain-based global solution for financial freedom, Bonpay has decided to raise funds via an ICO. The UK-based FinTech service, which focuses on promoting cryptocurrency dissemination and usage, stated in its latest press release that it will embark on its crowdsale campaign by mid-October 2017. It also … Continue reading Blockchain Company Bonpay Announces Token Sale for Global Finance Platform

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BitJob, the first global marketplace for student employment to be built on the blockchain, has announced a new collaboration with Canadian bitcoin brokerage Bitcoin Brains. The partnership will leverage the student community, which BitJob aims to engage in cryptocurrency-related employment, to expand the country’s network of bitcoin ATMs and introduce a new generation of people … Continue reading BitJob Partners with Bitcoin Brains for ATM Access

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This week two more bitcoin-based businesses announced their company’s stance towards the upcoming 2MB hard fork this November. The fork will be implemented by the Segwit2x (BTC1) working group roughly around Saturday, November 18, 2017. The two firms Xapo and Surbtc explained to their customers how they would handle the consensus change that’s just a few weeks away.

Also read: Porn Star Tempts Russian Prime Minister to Legalize Cryptocurrencies in a Video Message

Xapo Will Follow the Chain With the Most Accumulated Difficulty

Bitcoiners have been waiting for the official announcements from companies who signed this summer’s New York Agreement (NYA) to increase the block size, because Core developers want nothing to do with the change. Last week the companies, Coinbase and Bitfinex gave details on how they would handle the fork. Now two more bitcoin-centric startups, Xapo and Surbtc have come forward to disclose what their plans for the fork are.

The bitcoin financial services provider Xapo on October 9 told their customers how they would handle the fork. Xapo explains that when miners process block number 494784 a block between 1-2MB will be generated. The company wants its customers to know that just like when the bitcoin cash fork took place; Xapo users don’t have to do anything. As far as the startup’s policy with forks and defining the ‘real bitcoin’ it will let the hashrate decide.

“Xapo’s policy in regards to forks is that, when there is a fork, we always follow the chain with the most accumulated difficulty and we make the minority chain available to our customers for them to sell or withdraw from Xapo,” explains the company’s most recent statement.

We are going to call the chain with the most accumulated difficulty Bitcoin or BTC. If the minority chain is the one with 1MB blocks we are going to call it BC1 and if the minority chain is the one with 2MB blocks we are going to call it BC2.

Of course, the statements made by Xapo became a controversial subject because of how they will choose to name the ‘real bitcoin.’ The startup also adds that as soon as the minority chain is deemed safe, they will make it available for withdrawal. “If you want to trust Xapo with the security of your bitcoins and access your minority chain coins there is no action needed on your part,” the startup concludes.

Latin American Exchange Surbtc Will List Both Assets as BTC and B2X if the Fork is Contentious

The Chilean Bitcoin trading platform, Surbtc, on October 10 announced its stance towards the Segwit2x hard fork. Like Xapo, the exchange Surbtc is also an NYA signer, and explains they are pleased with this summers Segwit activation and would love to see “a small increment (2mb) in the size of a block.” However, the company believes wholeheartedly in the expertise of the bitcoin Core software developers.

“Even though we would be happy to have moderately larger blocks to accommodate growing demand, we feel that Bitcoin needs (at least a majority) of bitcoin’s core developers’ support in order to do this responsibly,” explains the Surbtc executive Agustin Feuerhake. “We haven’t seen this support, and we don’t like what we currently see on the BTC1 code repository in terms of technical considerations and open source collaboration.”

All things said, if a contentious hard fork does happen, Surbtc could eventually list both assets but will allow for sure its users to at least be to withdraw both. Due to practical reasons, we will continue to list BTC, and we will incorporate B2X (or the names that catch on among the industry) later.

So far there have only been a few bitcoin-based companies that have come forward with their plans. However, this time around startups are starting to announce these plans a bit earlier than last time, as they gained some experience since the previous fork on August 1. News.bitcoin.com will be sure to keep our readers informed every step of the way before, during, and after the upcoming November hard fork.

What do you think about Xapo’s and Surbtc’s statements about the Segwit2x fork? Let us know in the comments below.

Images via Shutterstock, Xapo, and Surbtc.

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We have seen quite a few different Bitcoin price projections as of late. Some people feel Bitcoin is a bubble waiting to burst any time now. Others see the price skyrocket in the coming few months to a new all-time high. Former Fortress hedge fund manager Michael Novogratz claims Bitcoin will reach $10,000 by Mid-2018. … Continue reading Michael Novogratz Projects a Bitcoin Price of $10,000 by Mid-2018

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Genesis Vision is the first private trust management platform based on blockchain technology and smart contracts. The platform will unite the exchanges, brokers, traders, and investors into a decentralized, open and transparent network, and create an automated ecosystem for investments and profit distribution. The main idea of the project is that every trader can be … Continue reading Genesis Vision Will Make the Financial Market a Global One

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Financial forecaster Gary Shilling has said in an interview that he does not understand bitcoin and has no plans to invest in it.

Japanese IT giant Fujitsu and three major banks have announced plans to pilot a peer-to-peer money transfer system built with blockchain technology.

Mike Novogratz, the hedge fund legend and former executive at Fortress, have stated in an interview with CNBC that the Bitcoin price is heading towards $25,000. Rise in Demand For Bitcoin From Institutional Investors Novogratz emphasized that the demand for Bitcoin and the cryptocurrency in general from large-scale retail traders and institutional investors is rising … Continue reading Billionaire Hedge Fund Legend Novogratz: Bitcoin Price En Route to $25,000

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Bitcoin Cash has been struggling quite a bit over the past week. Despite several attempts at reaching a higher value, things continue to head south fro BCH these days. Right now, the Bitcoin Cash price hovers near the $320 mark, which is a lot lower compared to what people would like to see. Then again, it remains to be seen how much of a factor BCH will be when SegWit2x happens in a few weeks from now.

Bitcoin Cash Price Struggle is Very Real

Gloating is a very real part of the cryptocurrency industry, but no one should take any pleasure in seeing specific currencies struggle for an extended period of time. Unfortunately for BCH supporters, the Bitcoin Cash price is going through a very difficult phase right now. The currency has fallen deep compared to its all-time high of over $800 not too long ago. Right now, the goal is to remain above $300, which is pretty difficult.

It has to be said, things have not fallen into place for Bitcoin Cash either as of late. Despite best efforts by the community and service providers, the demand for this currency seemingly isn’t there. Granted, speculators are banking big on the Bitcoin Cash price, but there is still a lot of work to be done in regards to this specific altcoin.Very few people are spending BCH for purchases of any kind so far, and that situation will not be turned around overnight.

To put this into perspective, the Bitcoin Cash price chart for the past seven days doesn’t look attractive in the least. With the price going from nearly $400 all the way down to sub-$300 earlier this week, there is a lot of pressure on the market, to say the least. Although this new value seems to be a small rebound, it still represents a 3.98% loss in USD value. Additionally, BCH lost 4.31% against Bitcoin, which indicates a lot more price declines may be on their way as we speak.

It is evident there is plenty of speculation regarding the Bitcoin Cash price, even though that is not necessarily a good thing whatsoever. With $226.285m in 24-hour trading volume, all BCH markets look rather healthy, even though the price continues to decline in the foreseeable future. It will be interesting to see how this trend evolves in the coming days, although going below $300 again is a very likely outcome for Bitcoin Cash right now.

Speaking of the BCH trading volume, HitBTC is still the largest exchange by volume right now. It has a small lead over Bithumb, which generates three times the volume of Bitfinex. It is pretty interesting to see HitBTC and Bitfinex switch positions where BCH is concerned compared to their position on the Bitcoin exchange list. People use similar platforms for very different purposes and no one company dominates all of trading right now. A positive sign, mind you.

For the time being, no one knows for sure what will happen to the Bitcoin Cash price in the coming hours and days. Right now, things are not looking great, but things can always change when we least expect it. If Bitcoin Cash wants to get back to $800 or more, there is a long way to go. For the time being, this currency is nothing more than a struggling altcoin, as its market cap is heading below $5bn as well.

Bitcoin startup Ripio has raised $31 million as part of a token presale ahead of a new credit network launch.

Mike Novogratz has added his voice to the bullish Bitcoin crowd while saying Ethereum could be crypto’s ultimate “public utility.”