Bitcoin Cash Supporters Continue to Hold on Bitcoin As BTC Shrugs Off Fork
So far, the Blockchain split between Bitcoin and Bitcoin Cash has been relatively uneventful. The Bitcoin price experienced some volatility, dropping by about 10 percent this morning, before recovering about half its losses.
Earlier today, Kraken began crediting Bitcoin Cash to holders of Bitcoin on its exchange, while simultaneously launching Bitcoin Cash trading pairs. The price of Bitcoin Cash has remained relatively stable around 0.07 BTC, or about $190.
Bitcoin seems to have stabilized around $2,750 at press time.
There had been speculation that the launch of Bitcoin Cash could result in wild market fluctuations, but that does not appear to have happened.
Full story at http://bit.ly/2tYGVSL
Source: CoinTelegraph
Bitcoin’s Civil War is Over But Bitcoin Price Set For Extreme Volatility
Bitcoin’s three-year civil war, which so thoroughly divided the community into armed camps, appeared to come to a close with the activation of BIP 91 just over a week ago.
BIP 91 is the first step in implementing the SegWit2x scalability proposal which is supported by the vast majority of economic actors and miners. There is, however, one significant wild card. It’s called ”Bitcoin Cash.”
Bitcoin Cash is supported by some notable members of the “big block” camp, such as Roger Ver, and on Aug. 1 it will hard fork from the main Bitcoin network, causing a chain split. Most people expect this to be a non-event, with Bitcoin Cash immediately being relegated to “altcoin” status. However, there is significant potential for market disruptions, and Bitcoin Cash has the potential to strongly affect Bitcoin’s value.
Bitcoin Cash presents a significant challenge in how exchanges deal with customer’s funds and margin orders.
Full story at http://bit.ly/2tWjPvK
Source: CoinTelegraph
Where to Store Your BTC to Get BCC: Wallets and Exchanges
It’s no secret in the cryptocurrency world that Bitcoin will fork, and that there will likely be the creation of Bitcoin Cash (BCC), a new altcoin built on the same platform as Bitcoin. The fork is scheduled for Aug. 1, 2017, 12:20 p.m. UTC.
Opinions are divided over whether BCC is a good or a bad thing for Bitcoin, with heated debatesacross the Internet.
However, for those who would like to stay out of the debate, but try and profit from the fork, it will be critical to have Bitcoin in a wallet or exchange that supports BCC.
Below is a list of companies that support BCC for users wanting to access their newly minted altcoins.
Full story at http://bit.ly/2tW6YK1
Source: CoinTelegraph
Bitcoin Price is Likely to Surpass $3,000 After SegWit Activation: Opinion
Although Aug. 1 is still hours away, most Bitcoin users are more confident of the community than they were a few weeks ago. As a matter of fact, some sections of the community are expecting the cryptocurrency to achieve new all-time highs in terms of price.
Due to the intensity of the scaling debate within the community, several gloomy predictions arose about the future of the cryptocurrency. In retrospect, such debates and predictions may be seen as a blessing in disguise even though it is not Uhuru yet for Bitcoin users.
The curiosity generated by the level of debate between factions of the community motivated Bitcoin users to seek knowledge of the technology as a whole.
Also, as users try to protect their digital assets, they sought clarity about the entire process and the various possible consequence of any eventual outcome.
Full story at http://bit.ly/2tWuI0O
Source: CoinTelegraph
New York City Government Punishes Employee For Mining Bitcoin at Work
The City of New York (NYC) Conflicts of Interest Board has meted a disciplinary action against Vladimir Ilyayev, an employee of the city’s Department of Education, after being caught mining the cryptocurrency Bitcoin using his work computer.
Ilyayev has already admitted that he conducted Bitcoin mining during work hours in 2014.
Based on the public records about the case, the employee has installed mining software that ran at night on his work computer and monitored its progress from his home. The document was signed by Ilyayev, NYC Education Department counsel Karen Antoine, and Conflicts of Interest Board chairperson Richard Briffault.
Full story at http://bit.ly/2tW70l7
Source: CoinTelegraph
South African Finance Minister on Bitcoin Future: Lot of Potential
The development of cryptocurrencies, especially in countries like South Africa, has seen the question on their future posed to government ministers, with Finance Minister Malusi Gigaba tackling the question positively.
Currently, cryptocurrencies are not regulated in South Africa, but a number of private businesses operate within their sphere of influence and Gigaba has said that the government is in conversation with these businesses.
Gigaba was replying to an opposition party’s question on Bitcoin when asked what the government's position on the developing market for cryptocurrencies was, and whether he intended to regulate the market.
“As noted, the relevant authorities continue to monitor and assess the use of virtual currencies and consult with private sector stakeholders in this regard. Further guidance or regulations may be issued, should the need arise,” he said.
Full story at http://bit.ly/2tVKo4x
Source: CoinTelegraph
Snubbing Bitcoin Cash Against Common Law May Lead to Legal Troubles for Coinbase
The contentious ‘hard fork’ that will see the creating of Bitcoin Cash has done more than split the digital currency, dividing allegiances between exchanges. Coinbase, one of the most popular exchanges globally, has said it will not support the fork, meaning that its users will not have access to the new version of Bitcoin.
This position is in contradiction to common law property laws which state that the product of an asset will also belong to the owner of the original asset.
Thus, with Bitcoin holders entitled to an equal amount of the breakaway currency, but being denied it as customers of Coinbase, they are being denied what is rightfully theirs.
Full story at http://bit.ly/2tVF3tQ
Source: CoinTelegraph
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