Alternative mining protocol: is there any control over miners?

Alternative mining protocol: is there any control over miners?

Block.one has no more ETH left, Ethereum slowing down under a heavy burden of transactions, the new creative ways to secretly mine Monero and a new decentralized Bitcoin pool — all this in today's weekly digest

  • All ETH addresses, that belonged to EOS project, are now finally empty. The coins were moved to exchanges and it's highly probable that they were sold. The total amount of ETH raised during their ICO is more than 3 million. They have been selling it all year.
  • Ethereum Network was congested again due to high fees. The fees skyrocketed because of a new exchange FCoin that decided to implement a new voting system. To vote for a new token to be listed, users must send these tokens to an exchange, which resulted in enormous rise of a GAS price. Many small projects tried to win in this competition, thus heavily clogging the network in the process.
  • In the Philippines, crypto exchanges are more popular than traditional financial platforms in 2018. They have more active users, and the trading volumes are higher. A special economic zone with soft regulations and small taxes is ready to embrace 25 new crypto exchanges in the country. They have to comply with certain requirements, for example, they must be able to invest $1 million within the zone, and should build their headquarters somewhere in the area.
  • The ban on Indian crypto exchanges is going to stay, the supreme court decided. Despite all efforts, the lawsuit from exchanges against the Reserve Bank of India had no effect. It could change very soon, as the Indian government works on defining the regulatory laws for cryptocurrencies in the country.
  • Pirate Bay, the most popular torrent site in the world, now contains a crypto miner. Coinhive, a script that mines Monero while user keeps the site tab open, starts without asking any permission, heavily loading user's CPU in the process. Given that Pirate Bay has more than one million page views per day, it generates a $50 daily revenue for its owners.
  • Another way to use malicious script miners is found. Now it can be hidden within a short link, made by using a special service called url shortener. The script can be injected into a legitimate link, and still lead to a correct destination, but it starts executing as soon as the user clicks this link.
  • Binance was forced to halt all trading activities due to a hack of Syscoin’s total supply. The amount of 1 billion new Syscoins was generated out of thin air and sent to Binance, where it was sold. The price of SYS climbed to 96 BTC per one coin. Then all BTC were withdrawn, thus making it necessary to shut down all operations and to reset all API keys. Now the exchange has resumed its activities.
  • Matt Corallo, Bitcoin Core developer, launches a new mining pool with the aim to decentralize Bitcoin mining. This pool lets its users choose between their own block templates or use the templates of the pool's owner. All existing large pools don't give their participants any choice, thus taking the control over the contents of mined blocks out of their hands. Matt thinks that will restore the initial meaning of being the miner.
  • A 24-year old man was sentenced for crypto jacking in Japan. The one-year sentence was suspended for three years. The convict used the Coinhive Monero miner script embedded in a cheating tool for a popular online game, and those who were using it became unsuspicious Monero miners.
  • A new lawsuit is filed against Ripple. Now the accusations are more than severe: security fraud and market price manipulation. The claimant is a private investor from California, and that's the third lawsuit in three months. Ripple Labs publicly responded to the charges with the statement that it's up to SEC to decide whether XRP should be classified as security or not.
  • A new survey shows that nearly 9% of Ontarians had or still have crypto investments. 40% of them already sold, and 60% still hold their crypto assets. However, most of them spent only small sums, less than $1000, for buying it.
  • Bank of Finland bashes crypto, calling it ‘an accounting system for non-existent assets’. In the report, blockchain is described as the centralized ledger with multiple copies that are scattered across the network. The author of the report also expresses the opinion that the only reason for buying crypto is for criminal activities, and it’s useless for a bank to issue a cryptocurrency as it would be a centralized database.
  • A new PC, designed both for gamer and miners, hit markets in Russia. The vendor promises that it will be able to generate a profit of 0,5 ETH per month. It costs $2,200 and has a 3-year warranty.
  • Bitcoin Cash community prepares for a major stress test for the network. A group of enthusiasts wants to process millions of transactions with minimum fees in one day. The goal is to see how a network which declares itself being designed especially for transactions can handle such a high load. The group also released a tool for stress testing so anyone interested can also participate.
  • The number of venture capital investments in crypto in the first half of 2018 surpassed the total amount of investments in 2017. It’s becoming the fastest growing segment in hedge funds. So far this year venture funds have invested more than $630 million versus $490 million last year.
  • Coinbase announces the opening of a new service, aimed at institutional investors. The service offers a secure cold storage of BTC, ETH, LTC, and BCH for institutions from the US and Europe, also it's highly probable that it will be expanded to Asia later this year.

BTC

3,911 USD
-1.71%

ETH

133.29 USD
-1.87%

BCH

157.45 USD
-5.14%

XRP

0.3001 USD
-2.42%

XMR

50.94 USD
-3.76%

SYS

0.06187 USD
2.68%

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Yahoo! Japan Enters Crypto Despite Bear Market, Plans May 2019 Launch of Bitcoin Exchange

Taotao, a crypto exchange based in Japan, is planning to launch in May with the approval of Japanese authorities. According to a CNBC report in April 2018, Yahoo! Japan said that it will acquire a 40 percent stake in BitARG Exchange Tokyo, which has since reportedly been rebranded to Taotao. “Yahoo Japan Corp said on Friday it would buy a minority stake in a Tokyo-based cryptocurrency exchange, becoming the latest major Japanese financial services provider to shrug off security concerns and join the digital money industry,” the report read. Prior to that, in March 2018, CCN reported that Yahoo! Japan The post Yahoo! Japan Enters Crypto Despite Bear Market, Plans May 2019 Launch of Bitcoin Exchange appeared first on CCN
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Bitcoin Price Analysis: Bulls Must Defend $3800 By The Monthly Close

Bitcoin price has got off to a lackluster start, finding weekly lows of $3850, down from $3980 after finishing the week on a fifth consecutive green candle. Let’s take a closer look at the BTC price action to look what may be in store for the final week of March. 4-HOUR CHART Looking at the 4-hour chart, we can see that Bitcoin price has been in a downward trajectory almost immediately since Monday morning. The relatively high volume sell-off found lows of $3850, from which it bounced to $3940 but was subsequently rejected. Price action has since been tightening up around $3900 but continues to threaten more downside action as a bearish pennant is forming. This would imply a potential downside risk of new weekly lows around $3800. The MACD supports this scenario as it continues its downward trajectory and the histogram printing new lows. In other words, the bears are in control. 1-DAY CHART Looking at the 1-Day Bitcoin Chart, the market remains in a bottoming pattern, which requires completion. This will only occur if bitcoin price can close with a higher high above $4250 on the daily chart. The monthly open of $3780 can be seen to be at the 50 and 100-day moving averages. The bearish momentum currently shows an initial target on the 4-hour chart at around $3800. Meanwhile, the 50 and 100-day moving averages on the daily chart are potentially acting as support where the bulls generally need to defend the monthly open. This implies that the slow the bleed to the downside may meet some resistance at around $3800. Volume in the BTC market remains to be slowly in decline, which is implicit of a bigger move being in the works. The MACD on the daily remains above zero, but is slowly trending downwards and there it crossed bearish with its signal line. MONTHLY CHART With five days remaining before bitcoin price closes the month, the weekly chart shows that BTC/USD is on course for a second consecutive monthly green candle for the first time in this bear market. Price continues to be supported by the 50-Month moving average, which is currently at the lows of $3185 seen in December 2018. The MACD line is threatening to pull up before crossing into bearish territory, which can be seen by a second consecutive higher low on the histogram. Therefore, the levels mentioned earlier will be critical for the bulls. If the market can flush down to $3800 and bounce back up to around $4000, the monthly close will look very positive for the bulls. However, if the bulls can only produce a disappointing $3800 doji candle, or worse, the bears will be in position to capitalize in April. So these final few days of March will be pivotal as we slide back to $3800 on Tuesday. In summary: bulls have some work to do to end March on a positive note, with $3800 being the critical battle ground. Trade Bitcoin (BTC), Litecoin (LTC) and other cryptocurrencies on online Bitcoin forex broker platform evolve.markets.  To get receive updates for the writer you can follow on Twitter (@filbfilb) and TradingView. The views and opinions of the writer should not be misconstrued as financial advice.  For disclosure, the writer holds Bitcoin at the time of writing. Images courtesy of Shutterstock, Tradingview.com The post Bitcoin Price Analysis: Bulls Must Defend $3800 By The Monthly Close appeared first on Bitcoinist.com.
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