Weekend, June 2-3, ’18

What’s new? Vitalik Buterin promises a bright future with infinite scalability for Ethereum and doesn’t believe in the financial power of Rothschilds, Visa network halted all transactions, more and more wealthy people invest in crypto, and new crypto doom predictions.

  • A recent survey indicates that more than 35% of wealthy people have already invested or have plans to invest in crypto. This survey was conducted by DeVere Group, a financial consulting company. Its CEO tells that the interest among investors is steadily rising, despite the markets being in bear mode.
  • Visa's payment network failed on June 1. All payments were suppended across EU, US and Ireland. People were unable to withdraw their money or even pay for a coffee. The official version is that there was some 'system failure', but the details remain unexplained. Now it’s all up and running. It’s worth mentioning, meanwhile, that Bitcoin network has never seen a downtime since its first block.
  • Joost van der Burgt from the Federal Reserve Bank of San Francisco declares Bitcoin a bubble. According to van der Burgt, it follows a classical chart of bubbles, now we’re still at an early stage and the major profit-taking is yet to happen.
  • A Japanese financial firm Abic Corporation offers a new crypto-backed loan program. Anyone can use their crypto as a collateral and receive a loan in Japanese yen.
  • Bitcoin is going to be accepted by many merchants in Russia. The 2018 FIFA World Cup is soon to begin, and paying in crypto can be a handy option for tourists who otherwise should exchange their national currencies to roubles.
  • Lisk blockchain was freezed for a few hours by failsafe system. It was triggered by a fake transaction with incorrect timestamp. Lisk team was able to quickly locate the vulnerability and fix it.
  • Baidu presented its Super Chain. This protocol has the capabilities to control the consumption of energy. Also it can be integrated with Bitcoin and Ethereum.
  • Ethereum Network will be capable of handling millions of transactions per second, as was stated by Vitalik Buterin. The key to this speed is sharding and plasma.
  • Vitalik Buterin doesn't believe that Rothschilds will be able to control crypto market. He said that their influence won’t affect the market and that they can release any currencies they want.

Lisk

LSK
Price
1.48 USD -2.85%
0.00037100 BTC -2.85%
Volume, 24h
2,154,064 USD
-1.61%
Marketcap
172,746,376 USD
0.12%
Emission

Related news

Alleged Bitcoin Fraudster Alexander Vinnik Appeals for Extradition to Russia

Alleged Bitcoin Fraudster Alexander Vinnik Appeals for Extradition to Russia Former operator of now-shuttered crypto exchange BTC-e, Russian national Alexander Vinnik, has appealed with a Greek court for his release or extradition to Russia, local media outlet Kathimerini reported on March 21. Vinnik — who is accused of fraud and laundering as much as $4 […] Cet article Alleged Bitcoin Fraudster Alexander Vinnik Appeals for Extradition to Russia est apparu en premier sur Bitcoin Central.
Bitcoin Central

Vitalik Buterin: High Ethereum (ETH) Prices are Good For Development

Vitalik Buterin, co-founder for Ethereum, has an interesting view on the price development of ETH. While current investors would be happy to see the price of Ethereum return to its all time high of $1432 in the early days of Jan. 2018, Buterin believes that a high ETH price is healthy for both network security and ecosystem development. Buterin made his comments in a crypto-focused interview held by Laura Shin at the Columbia Graduate School of Journalism on Mar. 20, which was live-streamed for outside viewers. Shin asked the ETH co-founder whether project leads and designers–such as Buterin–should be focused on the price of cryptocurrency, particularly in light of the high volatility and the current “crypto winter” market conditions. In response, Buterin pointed to what he called “earlier rhetoric” for ETH which downplayed the importance of cryptocurrency valuation in light of industry growth in development. In particular, Buterin explained that efforts to downplay price talk were both a way to distinguish ETH from other crypto pump and dump schemes, while also keeping the currency from treading in murky legal territory. Buterin told Shin, “In part, it was counter-signaling to distinguish ourselves [Ethereum] from other crypto projects that do pumping and lambo-ing way too much. But it was also about minimizing legal risk by basically trying to make the project seem more distant from something that would be covered by financial regulation.” Since the release of Ethereum in July 2015, Buterin reports that the landscape of cryptocurrency has shifted dramatically. As opposed to earlier perceptions and conversations surrounding crypto, which hinged upon illicit use and other miscreant behaviors, regulators in today’s context are much more open to digital assets and blockchain projects. However, these regulators are unlikely to ignore coin projects just because developers claim they have no interest in the market price, with Buterin explaining, “Even if people try to claim the price doesn’t matter at all, they are totally going to see through that.” The cryptocurrency co-founder went on to share his view of ETH’s price, and how increased valuation would benefit the project as a whole instead of just pumping investor wallets, “I can tell you what things are clearly important about why the price being higher rather than lower is good. One of them is obviously security. If the price is zero, then the network can’t be secure. That’s true in proof-of-work and proof-of-stake.” Finally, Buterin outlined the value of incentives in cryptocurrency adoption and development, specifically claiming that coin developers and community members are better positioned both in terms of resources and rewards if the currency’s price can continue to grow higher. The interview concluded with the audience being poised the question “Are Ethereum developers focused enough on the price of Ethereum?,” to which 21 percent reported “yes” with the largest pool of respondents at 38 percent responding “don’t care.” The post Vitalik Buterin: High Ethereum (ETH) Prices are Good For Development appeared first on Ethereum World News.
Ethereum World News

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.