Welcome to the Daily Cryptocurrency News Roundup 12th Nov, 2017 edition.
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#1 Cryptocoinsnews – $700 Million Stuck in 115,000 Unconfirmed Bitcoin Transactions
- The bitcoin dominance index dropped from over 62 percent to 53.4 percent following the “death” of the SegWit2x hard fork.
- Whenever bitcoin’s mempool is filled with unconfirmed transactions, mining software picks the transactions that paid the highest fees. This means that users who want to send important Bitcoin transactions are currently advised to attach higher fees to them in order to get them through.
- BCH’s surge seems to be inorganic, as a large part of the market is currently concentrated in South Korea.
- The recent increase in the number of unconfirmed transactions may be justified with a surge in the cryptocurrency’s trading volume, partly triggered by its recent price surge, and subsequent decline following the SegWit2x cancellation.
#2 Coindesk – Confusion and Euphoria As Bitcoin Cash Surges Past $30 Billion
- After hitting a record high above $800 on Friday, the price of bitcoin cash, the alternative cryptocurrency forked from the bitcoin blockchain in August, has doubled within 24 hours, hitting a high of $1,856 according to figures from data provider CoinMarketCap. At that price, bitcoin cash is now valued at more than $30 billion, passing ethereum for second-place standing in the market.
- According to data from Fork.lol, at roughly 4:30 UTC on Sunday the total amount of mining power backing the bitcoin cash blockchain surpassed that of the bitcoin blockchain.
#3 The Cointelegraph – Bitcoin Cash Pump Stalls, Stabilizes Near $1500
- The price has moved in huge swings, often as much as $500 in a matter of a few hours. As volatility increases and the market continues to correct and swing, prices will continue to move back and forth between the two contentious forks. Both have their followers, and the winning coin will have a sizable following after the dust settles.
#4 NEWSBTC – MONERO AND DASH benefit as BTC alternatives
- Monero and DASH are pumped following BTC scaling problems. As cryptocurrency users seek alternatives, Monero and DASH will continue to appreciate. Meanwhile, NEM and NEO are trading lower within a bear break out strategy while IOTA bulls are rejuvenated and testing highs of $0.61.
#5 Bitcoin.com – Bitcoin-Based Ethereum Rival RSK Set to Launch Next Month
- The long-awaited smart contract solution for Bitcoin’s blockchain that offers additional scaling improvements, RSK, is preparing to launch.
- Open-source smart contract platform RSK is a Bitcoin sidechain with a 2-way peg and merged mining to reward bitcoin miners for securing the RSK network. “RSK enables smart-contracts, near instant payments and higher-scalability,” its website describes.
- The Lumino network “is a Lightning-style network,” which Lerner described as “a Bitcoin soft-fork.” The network uses its own compression protocol, referred to as the Lumino Transaction Compression Protocol (LTCP), according to its whitepaper. Lerner told news.Bitcoin.com in a previous interview that “LTCP scales Bitcoin 8.3 times, while Segwit only 1.8 times,” and he estimated that “the Lumino/LTCP/RSK/Bitcoin combo can serve 1 billion users.”
#6 Bitcoin.com – Sberbank Apologizes for Buying Nearly All Graphics Cards on the Russian Market
- Sberbank, the largest bank in Russia and third largest in Europe, is majority-owned by the Russian government. According to senior vice president, Alexander Vedyakhin, the bank’s research lab was behind the dry spell. Ria Novosti reported on Saturday:
The reason for the deficit in the video card market was Sberbank, buying up video cards for its laboratory of artificial intelligence.
#7 Coindesk – Bitcoin Gold Goes Live After Bumpy Blockchain Launch
- Developers for the project, dubbed bitcoin gold, published software for the breakaway cryptocurrency today, releasing the code on GitHub as well. Aimed at blocking the use of specialized chips for mining, the project revealed last week it was eyeing a formal launch on Sunday, weeks after it first initiated a split from the main bitcoin blockchain.
- Currently, BTG futures are trading between roughly $260 and $290, according to CoinMarketCap – a decline of over 30 percent in the past 24 hours.
#8 Bitcoinist – Are millennials beginning to prefer bitcoin over stocks?
- According to a recent survey by Blockchain Capital, 1 out 3 Millennials would rather invest in Bitcoin than traditional stocks.
- A security called Bitcoin Investment Fund, that is tracking the bitcoin price, has already risen this year by as much as 661%. Experts believe that as Bitcoin ETFs officially become available, more and more people will start investing in the digital currency.
Disclaimer: This is not “investment advice.” Coin Frog does not bear any kind of liability. Moreover, always do your due diligence and form your own opinions.