Bitcoin Cash on Threshold of Hardfork?
The Bitcoin Cash community is divided into two camps. The Australian entrepreneur and "self-proclaimed Satoshi Nakamoto" Craig Wright and the creator of CoinGeek Calvin Ayre opposed the updates on the network and offered their version of its further development.
WHY IS IT IMPORTANT?
- The Bitcoin Cash network has arisen as a result of long disputes and hardfork. It’s now been a year and all this time the members of the community have been arguing about its future development.
- In discussions, the developers remind that there are other possibilities for implementing Bitcoin Cash. The example shows Bitcoin Classic and Bitcoin Unlimited, which existed before the appearance of BCH, but later became compatible with this fork.
RBI On Crypto: One Hand Bans, Another Gives
The Reserve Bank of India, de facto the Central Bank of the country, has launched a new department to amplify its presence in the fast-evolving market of emerging technologies like cryptocurrency, blockchain and artificial intelligence. In the future, the new subdivision will also study and create possible draft rules related to these areas, as two sources familiar with the situation told IndiaTimes.
WHY IS IT IMPORTANT?
- Earlier in April, the RBI has banned crypto by barring regulated entities from providing services to any individual or business dealing in digital currencies. The weariness caused by the increasing rise of crypto fraud was the reason the ban has been upheld in the past. The Supreme Court of India has postponed giving its verdict to the crypto-ban issued by the central bank, setting the next hearing date on September 11
- In the same month of April, RBI has announced that it will launch a data sciences laboratory that will gather specialists from areas such as computer science, data analytics, statistics, economics, econometrics, and finance. The unit will focus on inflation, banking regulations, and policy enforcement and will allegedly start working at the end of 2018.
Baidu Pitches Into China's Crypto War
China launched a new wave of fighting against ICO and cryptocurrencies. Сhinese authorities spread a joint warning on the "illegal fundraising" of cryptocurrency funds under the schemes that involve the use of cryptocurrency and blockchain. The letter, published on the website of the People’s Bank of China- the state’s central bank, includes the concern of four other regulators such as the Ministry of Public Security, the Banking Regulatory Commission, the General Administration of Market Supervision, and the Central Network Information Office. During the joint work the bodies managed to eliminate the "lawless elements" who were claiming to issue cryptocurrency through ICOs.
WHY IS IT IMPORTANT?
- Last week, Tencent, which owns the largest Chinese messenger WeChat, blockedseveral cryptocurrency channels on its platform also because of information about ICO and cryptocurrency speculation.
- The WeChat ban was followed by the warning that came from the Chinese authorities, that found 124 foreign crypto exchanges providing its services to Chinese citizens.
- Later on Friday, five high-level Chinese regulatory authorities issued a warning on the "illegal fundraising" of cryptocurrency funds under the schemes that involve the use of cryptocurrency and blockchain.
Cambodia to Track Rice via Blocrice Blockchain
Rice farmers in Cambodia suffer from unfair pricing to their harvests. Oxfam, a non-profit organization, might have the solution for farmers, which is tracking harvests, prices and transportation via blockchain, the Blocrice.
WHY IS IT IMPORTANT?
- Buyers, transporters are taking advantage of farmers who are unaware of the market. The current system leaves the farmers poor, but middlemen rich. Blocrice could bring balance into this.
- With a blockchain-based system, every transport, every sale can be tracked and fair trade will be promoted.
- Expanding this system to other products and regions can result in a fairer market with potentially more realistic prices.
Maltese PM’s Instagram Faked Spreading Crypto Ponzi Scheme
Crypto fraudsters decided to take advantage of the fact that the head of the Maltese government, Joseph Muscat, is a supporter of crypto and blockchain. They created a fake account for the prime minister on Instagram and launched a fraudulent scheme in the form of a financial pyramid.
WHY IS IT IMPORTANT?
- Some photos were taken from the official account of the Prime Minister of Malta so that the fake page looks more legit. The account creators are still unidentified, as well as the Maltese politician himself did not comment on the information about using his name.
- Note that Prime Minister Muscat’s original and verified Instagram account has 15,000 followers and is run by the Labour Party.
At 19:00 (GMT+1) total cryptocurrency market capitalization stands at $218,8 billion
IOTA (+12,33%) showed the best growth in the top-100
Market Dynamics
The trading volume of cryptocurrencies for 24 hours reached $10,86 (-0,6 billion per day)
Mining Profitability
- BTC $2,5 for 10 TH/s
- ETH $0,2 for 10 MH/s
- BCH $0,28 for 1 TH/s
- LTC $3,37 for 1 GH/s
- DASH $0,1 for 1 GH/s
Ongoing ICOs:
Expected ICOs:
- 31 August BetOnChart
- 5 September Cryptocean
- 8 September AEN Token
- 15 September COTI
- 15 September GOODWORK