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Crypto Space Over The Past Week From 5 To 11 March, 2018

Bitcoin Transaction Fees decreased

At the end of the week, we resume everything that the crypto community talked about over the past seven days. This week bitcoin lose $ 1000 per hour, managing funds Mt. Gox sold the  about $ 400 million in cryptocurrency, and the primary address of the ethereum has erroneously sent $ 500 million.

Bitcoin Decrease

On Tuesday, March 6, the bitcoin rate began a sharp decline, which reached its apogee in the second half of the Wednesday. Exchange rate dropped $ 1,000 per hour, and altcoins also decreased. During this hour, there were rumors about the breaking of the Binance exchange, which remained rumors, as well as the critical statement of the SEC regarding crypto currency exchanges and the order of the Japanese regulator to close two small trading platforms - FSHO and Bit Station. Each time, to some extent, tried to explain the fall, but, as we know, the real reasons for the course jumps most often remain behind the scenes.

Also on this day, has published a report that Nobuaki Kobayashi sold 35,841 bitcoins for $ 362 million and 34,008 BCH for $ 45 million. This caused a wave of indignation among traders and investors, because such a large number of bitcoins was sold when the exchange rate began to fall, and the sale on the exchange exerted even greater pressure on the price.

Tech Development

Bitcoin wallet Electrum developers have released its new version 3.1. They reported about the release on Twitter.

Another project that offers a ethereum scaling solution launches a test network. Liquidity.Network, which announced on March 2, along with Raiden Network will be a new project, allowing users to display transactions from the blockchain ethereum in the payment channels. In the end, this may allow the network to become more widely distributed.

The PayPal payment system is also looking for opportunities to increase the speed of transactions, as indicated by the patent application that the company recently filed. An application for an "accelerated virtual currency transaction system" published on March 1. The document describes a method by which a buyer and seller exchange private keys for cryptocurrency transactions.

The oldest bitcoin pool, Slush Pool, announced the support of AsicBoost. Users of Slush Pool, who have the technology built into the asik, will be able to more efficiently mine in the pool, which means they will get more profit.

Crypto Industry News

Following Venezuela, Cambodia may introduce its own national cryptocurrency, and the US dollar has another "replacement token" - TrueUSD, which already competes with Tether on one of the largest exchanges of Bittrex.

The TOP 10 cryptocurrency exchanges earn on commissions at least $ 3 million a day, that is, they receive a revenue of $ 1 billion a year. The Binance and OKEx exchanges handle the largest volume of trades, approximately $ 1.7 billion a day. Judging by the size of the Binance commissions for the most active traders at a rate of 0.2% (0.07% higher than OKEx), the exchange probably receives the largest daily profit among all such sites.

The Gemini Exchange, which accounts for 1.2% of all bitcoin trading, intends to add Bitcoin Cash and Litecoin this year. The Cboe exchange for bitcoins futures uses Gemini quotes. There are also rumors about the addition of new altcoins by the Kraken exchange.

The United Statements Federal Marshals Service reported that it will auction about 2,170 bitcoins, which are scheduled for sale on March 19. Bidders have to make a deposit of $ 200,000 and complete the registration before March 14.

Kenneth Rogoff, a leading IMF economist, told CNBC in an interview that "bitcoin is finding very limited use as a transaction mechanism." Assessing the prospects for the main cryptocurrency, Rogoff noted that in ten years the price of bitcoin would be a tiny fraction of its present value. He believes that a level of $ 100 is much more likely than $ 100,000.

The Dark Side of CryptoSpace

In Iceland, the largest theft in the history of the country occurred: thieves stole 600 asics from the data center. Three episodes occurred in December, the fourth - in January. The total cost of stolen equipment is $ 2 million. During the investigation, 11 people were detained, one of them was a security guard. Two by decision of the court remain in custody.

Github, a web service for hosting IT projects and their joint development, reflected the largest ever DDoS attack. It has implemented at a speed of 1.35 TB of data per second (this is a lot). In one such episode, the attackers demanded to pay a ransom of 50 XMR (Monero), which is approximately $ 16,000, then the address of the cryptocurrency wallet in the form of a long line of letters and numbers was indicated.

Researchers on cybersecurity from Palo Alto Networks have discovered a new malicious program called ComboJack, which steals bitcoins, litecoins, Monero due to replacing the destination address for the cryptocurrency transaction with the wallet address. Because ComboJack relies on the use of the vulnerability, which has fixed by Microsoft in September 2017, one of the possible ways to protect against malware is to update the operating system.

In the publication of Quartz, journalist Joon Yang Wong described his experience of communicating with cryptoscammers on Twitter and how social network and community react to them.

Well, the winner of the week among the scam projects was the cryptocurrency startup, which, presumably, collected almost a million dollars during the ICO without real photos of the team members. So, instead of photo "experienced graphic designer" Kevin Belandzhera, there are a picture of the Hollywood actor Ryan Gosling on website.