Friday, November 10, 2017

CryptoCurrency News: Bitcoin Price Decline Continues As Markets Drop Below $6,500

The price of bitcoin is down more than 9 percent after falling below the $6,500 level.

via CoinDesk

CryptoCurrency News: Cryptocurrency Mining Sales Cool in Q3, Says Nvidia

Nvidia said that it will remain "nimble" in its approach to the cryptocurrency market, even as it reports a decline in revenue for related products.

via CoinDesk

CryptoCurrency News: US Customs and Border Patrol Advisors Form Blockchain Research Effort

An advisory committee to the U.S. Customs and Border Patrol is gearing up to research the application of blockchain to the agency's trade functions.

via CoinDesk

CryptoCurrency News: '2x' Boost? Bitcoin Cash Closes on Record High

Bitcoin cash rose to a three-month high of $872.24 today, two days after a controversial hard fork of the bitcoin blockchain was suspended.

via CoinDesk

CryptoCurrency News: Singapore Central Banker: Regulators Have 'Duty' to Learn from ICOs

An executive Singapore's central bank has said that developments around initial coin offerings and cryptocurrencies can offer lessons for regulators.

via CoinDesk

CryptoCurrency News: Bitcoin Isn't 'Too Expensive,' Says BTCC Boss Bobby Lee

Bobby Lee, CEO of cryptocurrency exchange BTCC, spoke about buying bitcoin and China's regulatory crackdown in a speech last weekend.

via CoinDesk

[FOREX NEWS] The USD is having a bad ending to the week – data isn’t helping

The US dollar is not having a happy Friday. The greenback is not collapsing, but just retreating across the board, leaning lower. The biggest issue is tax reform. High hopes for getting a deal hit political reality. There are differences between the House and Senate bills. The latter one will reportedly include a delay of [...]

The post The USD is having a bad ending to the week – data isn’t helping appeared first on Forex Crunch.

via Forex Crunch

CryptoCurrency News: Bull Grip Weakens As Bitcoin Price Breaks Below $7,000

After setting a new record high of $7,879 Wednesday, bitcoin's price has dropped below $6,800 today.

via CoinDesk

CryptoCurrency News: US Treasury Secretary: We're Looking 'Carefully' at Illicit Uses of Bitcoin

The U.S. Secretary of the Treasury, Steven Mnuchin, has said his department is looking into the illegal uses of cryptocurrencies such as bitcoin.

via CoinDesk

[FOREX NEWS] USD/CAD heading down? Two opinions

The Canadian dollar has been suffering quite a bit after the dovish stance from the BOC. However, the tables may now turn in favor of the loonie. Here are two opinions, one focusing on the fundamentals and one about the technical charts. Here is their view, courtesy of eFXnews: USD/CAD: A MACD Sell Signal On [...]

The post USD/CAD heading down? Two opinions appeared first on Forex Crunch.

via Forex Crunch

Bitcoin Classic Announces Closure In Wake of Segwit2x Suspension

A group of developers coding under the banner "Bitcoin Classic," which makes up less than 1% of bitcoin nodes, will no longer provide support for the alternative software, claiming another protocol is achieving what they set out to do.

Speaking in a blog post, release manager for Bitcoin Classic, Tom Zander, said today that, given the suspension of the Segwit2x hard fork this week, he believes bitcoin's scaling problem will continue, and that the functionality of bitcoin cash will likely surpass that of bitcoin.

Zander wrote:
"In at most six months I'm sure we'll just drop the 'Cash' and call it 'Bitcoin'."

Initiated in 2016, Bitcoin Classic's stated goal was to increase bitcoin's transaction capacity by raising the block size from 1MB to 2MB, however, it failed to gain traction among the cryptocurrency's global software users. While at one point, more than 2,000 Bitcoin Classic nodes comprised nearly one-third of the network, today less than 1 percent of network users run the software.

Now, through bitcoin cash, which allows for adjustable block sizes and a default of 8MB, "Classic has fulfilled its promise," the post states.

Earlier this week, the team behind controversial scaling proposal Segwit2x said it will not proceed due to a lack of consensus surrounding the hard fork.

Due to this decision, Zander wrote that the those behind the so-called "legacy chain" (his term for the bitcoin blockchain), "would rather go down with their ship" than upgrade the software to keep up with the rising numbers of transactions.

As such, he said, Classic will cease operations "in a matter of days or weeks," urging all miners and nodes currently supporting the network to immediately migrate to an alternative.

Earlier this year, bitcoin activated a scaling solution called SegWit, which increases transaction quantity without raising the block size, and paves the way for future off-chain scaling solutions. However, the impact this has had on the network has so far been minimal, leading some to criticize the software.

While this has been attributed to a lack of adoption in the industry, Zander states that bitcoin's failure to increase the block size limit merely "confirms the Cash chain's viability." With this perspective, Zander joins others in predicting that bitcoin cash will flourish following the Segwit2x cancellation.

He concluded that regarding the future of bitcoin, "the market will decide."

Source CoinDesk

CryptoCurrency News: Stratumn, Deloitte Trial Blockchain Platform with 14 European Insurers

Blockchain startup Stratumn has announced the completion of a France-based proof-of-concept trial involving 14 insurance companies.

via CoinDesk

[FOREX NEWS] Will forex volatility ever return? This is frustrating

The movements in foreign exchange markets have become slow, very slow. There is a dearth of volatility that is becoming worse. Surprisingly enough, volatility was somewhat higher in August than in September and October. And the month of November is one of the worst, despite top tier events. Some currency pairs are better than others. [...]

The post Will forex volatility ever return? This is frustrating appeared first on Forex Crunch.

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CryptoCurrency News: Ethereum to ICOs: You're Doing It Wrong

Ethereum devs have harsh words for many ICO launches, but outline the steps issuers can take to make their projects less sketchy.

via CoinDesk

[FOREX NEWS] UK trade balance, manufacturing beat expectations – GBP rises

Better than expected numbers on all fronts. The UK trade balance deficit squeezes to 11.253 from a downward revised 12.35 billion. Manufacturing production is up 0.7% m/m and 2.7% y/y. Industrial output is also up 0.7% m/m on top of an upwards revision and 2.5% y/y. GBP/USD, which was sleepy ahead of the publication, is [...]

The post UK trade balance, manufacturing beat expectations – GBP rises appeared first on Forex Crunch.

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