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.
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