From next week I am switching to doing this digest 3 days a week on Monday, Wednesday and Friday. There will be 6 news items in each daily post.
(Tip: To open the tweet in a new window 'Right-Click' the 'Tweet This Story' text and 'Open link in new tab')
Bitcoin Unlimited Derivative Introduced Ahead of Possible Hard Fork
Cryptocurrency exchange Hitbtc.com has announced the launch of Bitcoin Unlimited (BTU) balances and trading pairs, betting on the possibility of a BU hard fork.
In its announcement, HitBTC claims that a Bitcoin Unlimited hard fork, followed by a network split, is “one of the possible outcomes,” due to the high congestion that the Bitcoin network has been experiencing over the past months.
Ahead of the possible network split, the exchange wants to “provide [its users] with the tools for avoiding any risk.”
All users who have had Bitcoins deposited to their accounts, as well as all new depositors, are given a BTU balance, credited with an equivalent amount of BTU coins. BTC/BTU pair is already available for trading on the exchange.
Full story at http://bit.ly/2n5Xqc6
Forking is Easy, Maintaining Bitcoin Unlimited is Hard: Andreas Antonopoulos
Bitcoin and security expert Andreas Antonopoulos noted that the execution of a hard fork solution like Bitcoin Unlimited isn’t necessarily the difficult stage of development. The challenging task is maintaining and running the software without coming across major security threats and internal bugs.
Over the past few weeks, an increasing number of miners in China have begun to show their support toward Bitcoin Unlimited. Most notably, Bitmain’s Jihan Wu, who operates the largest mining pool in terms of hashrate, switched to Bitcoin Unlimited and led various controversial discussions over the Bitcoin Core development team’s Segregated Witness and the impact of off-chain transactions on miner profitability.
Chandler Guo, another key figure in the Chinese mining scene, announced his support for Bitcoin Unlimited and told the community that he will personally try to convince other miners within the region including BW and XBTC to join the Bitcoin Unlimited family.
The move of miners in China toward Bitcoin Unlimited and their opposition to Core’s cautious approach toward bitcoin development is separating the industry and community into two.
Full story at http://bit.ly/2n6gmHV
How Bitcoin Exchange Market is Preparing for Hard Fork
Bitcoin exchanges are preparing for a potential hard fork execution of Bitcoin Unlimited. While most major Bitcoin exchanges including BTCC, Bitstamp and Bitfinex have clarified their stance on the hard fork contingency, some regional exchanges such as Korbit and HitBTC haven’t come to a consensus in regards to hard fork support.
On March 24, Cointelegraph spoke to HitBTC about their questionable statement released to their users about the Bitcoin Unlimited hard fork.
In their statement, HitBTC wrote:
“Bitcoin Unlimited has been listed on the platform and is available for trading from March 24. The exact date of the hard fork is currently unknown and BTC and BTU withdrawals are temporarily locked due to the probable replay attack which may occur after the split. Withdrawals will be unlocked soon after the hard fork is complete.”
Full story at http://bit.ly/2n63yRQ
Markets Update: Bitcoin’s Price and Market Share Dominance Declines
If one were to ignore the scaling debate this week and focus the attention entirely on cryptocurrency markets, one would notice last week’s bitcoin price movements were just as hectic. Currently, the price per bitcoin is US$990, after losing roughly $70 dollars in value over the past 24 hours. Just one week ago, on March 16, bitcoin’s price was coasting along at $1,215-1,235 per BTC – but it took a significant dive the following day. The bearish downturn continued until March 18, hitting a low of $950 per BTC, which turned out to be the week’s price floor so far.
After the dip, the price started to ascend upwards once again, climbing above the 4-digit range. On March 21 bitcoin’s rising price reached $1,115 but subsequently took another downturn over the course of the next few days. At present technical indicators are showing sellers are in control of the market. The price is moving down to support lines as the psychological 4-digit range seems to be broken leading to the current bear market. The support line is strong in the $870-890 range, and its likely buyers are waiting for this position. The 100 Simple Moving Average (SMA) is lower than the 200 SMA showing the seller’s market may continue until a new price floor is found.
Full story at http://bit.ly/2n6i2AS
Prepared by @SydesJokes
Original post from: http://CrowdifyClub.com/SydesJokes