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Crypto Space Over The Past Week From 20 to 26 Of August, 2018

At the end of the week, we resume everything that the cryptocommunity talked about over the past seven days. This week SEC refused bitcoins-ETFs again, Binance Exchange launched a trading platform for European investors, and the World Bank collected $ 81 million for bond on blockchain.


According to CNBC interviews, ten influential cryptomarket players, are trying to predict bitcoin price in the coming months and years. Barry Silbert, Tom Lee, Jeremy Alleyer, Arthur Hayes and others talk about Bitcoin-ETF, similarities and differences in digital currencies with gold and much more.

According to skeptical economist Paul Krugman, bitcoin has more advantages in use than gold. However, to the end in the details of the work of this digital asset Krugman never figured out. His concern is the fact that mining bitcoin requires a lot of energy. At the same time, the number one cryptocurrency has a huge potential in the market.

Max Keiser said that the Dash is ori "Satoshi's vision" into reality. The influential leader has compared scenarios of Bitcoin and Dash use and has noted that Dash wallet "is created for people", as it gains popularity quickly.

Vitalik Buterin shared his thoughts on blockchain future, the state of the ethereum and many other things during a private event that took place recently in San Francisco. He also published a research paper Consensus Guidelines with 99 percent Resilience, which provides simplified information about the design and implementation of an algorithm for blockchain that is resistant to inexplicable errors.

According to Chainalysis Bitcoin Cash is not required for commercial transactions. The supporter of Bitcoin Cash, Roger Ver, urged not to pay attention to this report. He pointed to a sufficient number of transactions in August and called the price of a coin in the long run "a function of utility as a currency." Also in an interview with Korea Economic Daily, he talked about the prospects of blockchain real estate.

The head of Coinbase, Brian Armstrong, believes that his company is not financial and not technological, but a cryptocurrency. According to Armstrong, the company is a combination of technology and finance.

Steve Wozniak announced that he plans to participate in blockchain project. According to Apple co-founder, this is his first experience of this kind.


China published another digital currencies rating, the third place in which suddenly took Komodo. As in the previous "World Index of the evaluation of blockchain technologies," strong positions are assigned to such digital assets as EOS, Ethereum, NEO and Stellar. They got the first, second, fifth and sixth places on the list, respectively.

BitMEX researchers decided to test the theory of a million bitcoins, which Satoshi Nakamoto allegedly blamed soon after the launch of the network. The conclusions they came to make us doubt that Satoshi is rightly considered the owner of the coveted million, even if he did not lose access to the wallet.

Capitalization of the global blockchain market in the automotive industry could reach $ 1.6 billion by 2026. Such an assessment is presented in the report of Business Intelligence and Strategy Research. According to the report, from 2018 to 2026, the market for such blockchains will grow by approximately 65.80% according to the aggregate average annual growth rate (CAGR), reaching $ 1,575 million in 2026.

In a survey conducted by Deloitte, just over 70% of executives from various companies admitted that they know quite a lot about blockchain technologies. The survey involved 1053 company executives with annual revenues of $ 500 million in seven countries - China, Germany, France, Mexico, the United States, Britain and Canada.

A new bitcoin forecast suggests that the rate may continue to fall over the next two years. Such a prediction takes into account the next decrease in the commission for the mining of blocks in 2020. But bitcoin optimist Tom Lee believes that the price of the first cryptocurrency at $ 20,000 is still possible by the end of 2018.


In August, Tether's crypto currency company generated a token issue of up to $ 415 million. After that, the digital asset was able to take the eighth place in the cryptocurrency rating of market capitalization. Last week, the Tether team issued coins of up to $ 200 million, in the following days the "printing press" continued to work. According to some experts, these infusions are the main cause of price jumps in bitcoin.

Liechtenstein Union Bank has declared determination to develop and bring own cryptocurrency to the market. The digital asset will be provided with fiat money, the press service of credit institution reports. It is about the steyblkoyena, provided with Swiss franc.

EOS team introduced a new blockchain platform. The website will allow them to share various information with each other and launch joint projects. Within the framework of this ecosystem, EOS team intends to broadcast for users of the blockchain network in English, Chinese and Korean.


Bminer, previously introduced in version 10.0.0, updated to version 10.1.0 with fixes that relate to the Bytom (BTM) mining. The update eliminates the problem of gradual performance degradation, which was observed during BTM mining. However, unfortunately, it has limited support for pools, and it can not be used in all known and large pools, which limits usability of this software.

The new Holic H22 promises to provide a hashrate of 22 TH/s at 1600 watts. ASIC-chips are based on the technology of 10 nm from Samsung. New ASIC-miners are developed by the Greek company for own mining farms, but pre-orders are now available to external interested customers.

American company DPW Holdings has completed work on reorienting the dam in the state of New York, which will form the basis for a mining farm. The dam is located in the area of ​​the village of Valati, famous for its picturesque waterfalls. The farm, for which the dam will become a source of electricity, will be launched at the end of 2018.

Cryptocurrency Exchanges

The world's largest cryptocurrency exchange Binance has started trading floor for the European investors. The project has been realized in partnership with the Liechtenstein exchange LCX. The new Binance LCX platform will serve operations with euro and Swiss franc with the main cryptocurrencies. All trade operations have to be approved by the European regulators. The platform will work in jurisdiction of Liechtenstein.

Despite the recent attack to Bithumb, the cryptocurrency exchange promptly develops, contrary to expectations. The Yonhap agency has analysed the report of the company for half a year according to which in the first half of 2018 the exchange has managed to get a profit of about 39,34 billion wons ($35,3 million).

Coinbase exchange has applied to the US Patent and Trademark Office (USPTO) to register a new technology for protecting user accounts of digital wallet. Its goal is to ensure the security of payments in bitcoins and other cryptocurrencies.

On Thursday, August 23, Canadian cryptocurrency exchange Coinsquare announced its intention to enter the European market. To do this, the trading platform plans until the end of the fourth quarter of this year.

Bitcoin Mercantile Exchange, or the Bitmex exchange, received huge profits from futures contracts for large crypto-currencies such as bitcoin and EOS. And it seems that BitMEX has big plans to use its solid revenue: the company decided to settle in the center of Hong Kong in the office, the rental cost of which becomes $ 5 million per year.


US company United Parcel Service (UPS), working in the field of logistics and express delivery, is exploring the possibility of using blockchain technology in the work of its global system. The US Patent and Trademark Office (USPTO) published documents last week, from which it follows that UPS can start using blockchain technology and cryptocurrency (bitcoin, ethereum, ripple and dogecoin) to improve the efficiency of its services and in real time track complex procedures.

Japanese company Softbank, the largest shareholder of the Uber service, has denied its participation in financing of the mining giant Bitmain. Earlier it was reported that Softbank purchased Bitmain shares, which allowed the Chinese company to increase its value to $ 15 billion. A similar refutation was made by Tencent corporation. Bitmain itself in connection with the upcoming IPO announced that it is introducing the policy of KYC.


SEC refused to launch two bitcoins-ETF again. At the same time, the SEC promised to reconsider the decision to refuse the launch of nine ETFs targeting the cryptocurrency market.

At a meeting on the possible cancellation of the ICO ban in the country, South Korean lawmakers again began discussing cryptocurrencies. Interested parties are also promoting the theme of creating "own blockade island in South Korea." The plans to create a "special zone for world blockchain projects and cryptocurrencies" on the resort island of Jeju are in part the same kind of favorable policy towards innovation technologies that Malta has been conducting in recent months.

The Japanese authorities promise "not to crush" the cryptocurrency industry. A head of Financial Services Agency (FSA), said that the FSA is trying to promote technological innovation while taking care of consumer protection.

The popular Chinese messenger WeChat, owned by Tencent, blocks the media blockchain and cryptocurrency accounts. The reason may be new regulations recently adopted by the Chinese government. The government of the country took two additional measures, namely, it forbade 124 foreign cryptoexchange exchanges to work in the PRC, and all commercial establishments in the Chaoyang district of the capital - hold any events dedicated to cryptocurrencies.

The central bank of Thailand plans to issue its own digital currency. To this end, the regulator will cooperate with eight partner banks, CCN reported citing the statement of the press service of the Central Bank of the country.

The World Bank raised $ 81 million during the bond issue on the blockchain, $ 8 million more than planned. The organizer of the issue was the Australian Bank of the British Commonwealth (CommBank).


The People's Bank of China together with other government agencies on August 24 published a warning about criminal activities related to the blockchain and cryptocurrency projects, especially those that "remind the ICO". In a statement, the central bank said that fraudsters "operate under blockchain, digital currency and financial innovation signs."

A mining farm near Norway's capital Oslo can be closed due to a conflict with local regulators. The farm belongs to the Norwegian company Kryptovault, whose enterprises were threatened to explode, as its activities are hindering the population of the city of Honefoss.

An entrepreneur from South Korea wanted to exchange his digital assets for fiat money, but became a victim of scammers and lost $ 2.3 million. The buyer transferred 2 million euros to the coin holder, gaining access to digital assets in return. Soon after the transaction, the victim found out that all the money bills - fakes, copied from the original banknotes.

Chinese police detained three cybercriminals who were engaged in the abduction of cryptocurrency. According to preliminary information, hackers stole bitcoins and other digital assets for up to 800 million yuan ($ 87 million). As local mass media noted with reference to state security agencies, criminals hacked computers of private users and companies. After that they got access to the digital wallets of victims and kidnapped cryptocoins.