- Bitcoin shot to just shy of $7,900 (£6,000) after a controversial proposal that could have split the cryptocurrency was called off.
- The currency had been scheduled to undergo a so-called “hard fork”, a change to bitcoin’s code that would have created an offshoot cryptocurrency, and which developers argued was necessary to keep up with the pace of its growth.
- On Wednesday, proposals to implement the changes were suspended over fears they could divide bitcoin irreparably and damage the cryptocurrency’s growth.
- Members of leading bitcoin exchanges supporting the “SegWit2x” proposals have signed a letter calling off the upgrade.
- SegWit2x would have doubled the size of the bitcoin “blocks” on the blockchain, the record of bitcoin transactions, essentially making it easier to process more trades as more people join and trade bitcoin.
Bitcoin shot to just shy of $7,900 (£6,000) after a controversial proposal that could have split the cryptocurrency was called off.
Continue reading “Bitcoin hits all time high as controversial ‘hard fork’ called off”
- Bitcoin surged by 10 per cent on Wednesday to hit an all-time high just shy of $8,000 US after online reports that an upgrade to the cryptocurrency’s software planned for next Thursday had been suspended.
- Bitcoin experts cited a statement on the Linux Foundation website, signed by several high-profile bitcoin entrepreneurs and developers who had backed the plan, that said the “Segwit2x” upgrade would be scrapped for now as it could “divide the community”.
- The upgrade would have changed bitcoin’s rules in a so-called “fork”, effectively cloning the existing bitcoin to create another cryptocurrency.
- “Our goal has always been a smooth upgrade for Bitcoin,” the statement, authored by Mike Belshe, CEO of blockchain security firm BitGo, said.
- Bitcoin surged from just below $7,500 US to a new record high of $7,888 US on the Luxembourg-based Bitstamp exchange in the 20 minutes that followed the statement’s release.
Bitcoin surged by 10 per cent on Wednesday to hit an all-time high just shy of $8,000 US after online reports that an upgrade to the cryptocurrency’s software planned for next Thursday had been suspended.
Continue reading “Bitcoin surges to new high on reports software ‘fork’ suspended”
- Instead I will make a few observations about how an investor might think about the impact of ICOs / token launches on the venture capital industry, in particular, and some of the downstream ramifications that need to wrestled with.
- The ICO generates excitement and valuable incentives to contribute to the ecosystem which accelerates its growth and, as the ecosystem grows, the company has a cash flow formula that allows value to accrue to the equity holders of the corporation not just the tokens.
- If a portfolio company can raise money in an ICO and retain tokens that then rise in value, it dramatically reduces the company’s incentive to seek an exit.
- If the management team and employees receive tokens as part of their compensation plan and those tokens are highly liquid — as they should be after an ICO thanks to the meteoric rise of exchanges and crypto hedge funds — then the value of their compensation may be more through token value than equity value.
- Are investors and management as aligned as they are in a company that does not raise money in an ICO or do token sales create more opportunities for misalignment—which gets back to the issue of governance.
Goldman Sachs and CB Insights recently reported that startups have raised over $1 billion in Initial Coin Offerings (ICOs) this summer — more than the to…
Continue reading “The Summer of ICOs”
- The CNY exchange will be based in China and provide no margins or futures, but the USD exchange will be based offshore and will provide margins and futures as permitted by relevant regulations, according to Sara Ouyang, Chief Operating Officer at ViaBTC.
- Financing from Bitmain or any other company in the future will help us grow even bigger.
- The bitcoin exchanges market appears competitive, but the industry is sorely lacking margins or futures in a regulated exchange.
- Then there is OKCoin’s offshore exchange which continues to provide 3x margins as well as 20x futures, but, again, they are unregulated.
- Until then, new exchanges that provide margins or futures at a significant level can only improve the overall trading situation.
One of the biggest bitcoin mining pools, ViaBTC, is to open a CNY/BTC exchange in around two months with a USD/BTC exchange to follow. The CNY exchan
Continue reading “ViaBTC to Open Bitcoin Exchange After Raising $200,000 in Funding Led by Bitmain ⋆ Epeak . Independent news and blogs”
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Equibit Development Corporation, creator of the Equibit blockchain and blockchain applications for the global securities industry, opened its initial coin offering on February 1st, selling $250,000 worth in equibits on the sale’s first day. The sale will run for 59 days to March 31 and is being
Continue reading “Equibit blockchain ICO sells $250K on first day”
- Uber CEO Travis Kalanick Stepping Down From Trump Economic Advisory Council
- Uber CEO Travis Kalanick is resigning from President Donald Trump’s economic advisory council, according to the company.
- The taxi drivers were striking in solidarity with the thousands of protesters gathered there to demonstrate against Trump’s immigration ban.
- “Immigration and openness to refugees is an important part of our country’s success and quite honestly to Uber’s,” he said. “
- Inside Out – The implicit assumption that Uber (or I) was somehow endorsing the Administration’s agenda has created a perception-reality gap between who people think we are, and who we actually are.
In a memo to employees, Kalanick said he didn’t want his presence to be seen as endorsing the president or his agenda.
Continue reading “Uber CEO Travis Kalanick Stepping Down From Trump Economic Advisory Council”