What’s Up: Friday, November 16, 2018

3 min


All is quiet – up to now – on the Bitcoin Money entrance, nVidia’s wager on crypto goes bitter, SEC places Voorhees below the microscope, and Microsoft will get within the sport.

Right here is a few of what’s taking place, for Friday, November 16, 2018:

Bitcoin Money Cut up Accomplished, No Indicators of Sabotage But

The Bitcoin Money blockchain cut up at 18:02 UTC yesterday, and but, the prophesized “hash warfare” has but to materialize. On November 6, Craig Wright, the proponent of the brand new Bitcoin SV chain, suggested by tweet that SV miners might doubtlessly assault and “kill” off a rival chain, main the group to take a position on the ramifications of a full “hash warfare.”

Thus far, the 2 claimants to the mantle of bitcoin cash are behaving. This doesn’t imply, nevertheless, that hostility is off the desk. As the 2 chains – whereas separate networks – are forks from the identical grasp chain, Bitcoin SV might theoretically launch a 51 % assault in opposition to its sister chain, Bitcoin ABC, if it ought to ever achieve dominance.

Bitcoin SV – which claims to signify “Satoshi Imaginative and prescient” or the unique mannequin Bitcoin creator Satoshello Nakamoto was thought to have imagined for his coin – has made it clear that it intends to emerge as the first Bitcoin Money implementation. “Not like different competing BCH implementations which search to make pointless adjustments to Bitcoin, Bitcoin SV’s roadmap is to revive the unique Satoshi protocol, maintain it secure, allow it to massively scale, and permit main companies to confidently construct on high of BCH,” a nChain press release reads.

As of the writing of this report, Bitcoin ABC is 32 blocks forward of Bitcoin SV.

Bitcoin SV, an implementation designed to make Bitcoin Money extra palatable for company customers, elevated the block dimension from 32 megabytes to a most of 128 megabytes. Bitcoin ABC, which seeks to emulate Ethereum’s and EOS’ scripting capacity, add helps for EDCCs (aka smart contracts) and for oracles.

ShapeShift CEO Faces SEC Scrutiny

The Wall Street Journal is reporting that the US Securities and Change Fee (SEC) is investigating Salt Lending Holdings, Inc., a cryptocurrency-collateral lending platform affiliated with crypto alternate ShapeShift AG CEO Erik Voorhees.

In query are if Salt Lending Holdings’ token sale ought to have been registered as a securities providing, how the token sale’s proceeds had been used, how the tokens had been issued, and if Voorhees violated a 2014 SEC settlement that banned him from collaborating in token gross sales and ICOs. ShapeShift has been accused of permitting suspected criminals to effectively launder monies by changing bitcoin to Monero, which is nearly untraceable.

Voorhees entered a SEC settlement in 2014 following accusations that he performed an unlawful public providing for an web playing firm. He agreed to pay $50,000 in fines and to neither elevate funds in non-public markets nor function an officer in a agency that fundraises on this method.

Voorhees is not any stranger to controversy. He has mentioned that exchanges like his would not have to stick to know-your-customer and anti-money laundering protections (KYC/AML), regardless of this being the usual for many nationwide securities regulators. “I do not assume individuals ought to have their id recorded to catch an occasional prison,” Voorhees mentioned in a Could interview, per WSJ.

Whereas the SEC refused to remark, the SEC grievance was confirmed by a Salt Lending Holdings government that famous that Voorhees was an “early contributor” to the corporate, however now not serves in any formal position.

nVidia Sees Shares Value Fall with Wilting Cryptocurrency Mining Demand

Staying with WSJ, chip producer nVidia forecasted fourth-quarter gross sales Thursday beneath Wall Road expectations. The California-based firm is putting the blame on unsold chips following a cryptocurrency mining downturn.

Current reports have indicated that GPU-powered proof-of-work mining is now not worthwhile attributable to lagging crypto costs, the price of electrical energy, and the dominance of ASICs (application-specific built-in circuits) out there.

Whereas the corporate reported that third-quarter earnings rose 47 % and income rose 21 %, this got here in wanting expectations. Nvidia inventory costs dropped 18 % to $165 after hours from an in depth of $202.39.

Microsoft Launches Growth Equipment for Blockchain

American software program big Microsoft jumps into the blockchain-as-a-platform market with the launch of its Azure-powered blockchain improvement equipment. Microsoft is getting into a crowded market the place IBM, Google, and Amazon have already launched related improvement kits.

Microsoft has indicated that the equipment will present SMS and voice interfaces for monitoring options, integration with Web of Issues (IoT) units, and Android and iOS help. Microsoft can also be suggesting that its providing will probably be suitable with completely different blockchain encryption strategies, akin to Ethereum and Bitcoin.

Be quick, be intelligent, be sensible. Most significantly, be right here Monday to your Every day Byte.

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Rebecca

Rebecca has been actively following cryptocurrency since he was introduced to Bitcoin in August of 2013. Since then, she has spent much of his time participating in the community, trading altcoins, and freelance writing within the cryptocurrency field. She is currently an undergraduate student pursuing a double major in Economics and Computer Science, which he plans to use towards a career in the blockchain industry after graduation.

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