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Home » Interesting » How Does Mining Develop In 2018?

Crypto Space Over The Past Week From 10 To 16 Of December, 2018

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At the end of the week, we resume everything that the crypto community talked about over the past seven days. This week young crypto millionaire Erik Finman said that Bitcoin is pretty much dead, investors continue to leave the ICO market, and the “expensive” miners are in a predicament.

Opinions

Cryptocurrecy entrepreneur, Trace Mayer, proposes to celebrate the anniversary of Bitcoin genesis block, which falls on January 3, in an original way - annually urging cryptocurrency owners to fully restore control over their private keys.

According to the ardent supporter of the digital market and investor, Mike Novogratz, Bitcoin will not collapse to zero, as the cryptocurrency industry continues to evolve.

According to co-founder of Fundstrat and ardent supporter of the cryptocurrency market, Tom Lee, the fair value of Bitcoin is much higher than what we see now. Lee said that the fair price of Bitcoin will be between $ 13,800 and $ 14,800, given the number of active wallets and factors affecting the offer.

According to co-founder of BTCC cryptocurrency exchange, Bobby Lee, by 2021 Bitcoin will be able to show a rally to $ 333,000. Bobby Lee believes that in January 2019, Bitcoin will show a fall to $ 2500, this mark will signal the bottom has been reached.

Kenneth Saul "Ken" Rogoff , a former IMF chief economist and professor of economics and public policy at Harvard, believes that Bitcoin and other cryptocurrencies are now "lottery tickets." In his opinion, a number of important questions remain unanswered - in particular, whether large economies will be able to successfully accept cryptocurrencies.

According to the top-manager of CCL Investment Management, James Bevan, in 2019, the cryptocurrency market can show explosive growth due to the increased interest of players to stablecoins.

Analysts rating agency Weiss Ratings believe that it is high time to buy Bitcoin. Agency experts published a series of tweets in which they stated that Bitcoin will not go down in history, since it is the least speculative asset.

Andreas Utermann, CEO of Allianz Global Investors, said regulators should ban cryptocurrencies.

Ratings

If during September-October, the main cryptocurrency demonstrated the most minimal volatility since the end of 2016, in November it began to grow at a rapid pace. As of early December, the Bitcoin volatility index jumped about three times in just one month. At the beginning of November, the indicator of coin volatility was 1.57%, and at the beginning of December, this indicator already reached 5.53%.

A recent study by the research company Delphi Digital has demonstrated that, to date, all the released BTC are distributed among 22.9 million addresses. Unfortunately, almost half of them contain less than 0.001 BTC. Statistics shows that only about 20% of bitcoin addresses contain more than $ 100 in cryptocurrency.

In a study published by the Cambridge Alternative Financing Center, during the first three quarters of the current year, the number of verified token holders increased from 18 million to 35 million.

According to the ASICMinerValue.com website among ASIC miners who mine bitcoin and bitcoin cash using the SHA-256, only two machines could work with at least some profit. Both devices were released in October 2018, and they showed a daily profit of $ 0.53 and $ 0.15.

According to Google Trends, in 2018 the query “What is Bitcoin?” was the most popular. If in 2017, people most often made a request with the word “Bitcoin”, now they want to find a definition of this word. Google Trends data, rather, indicate that in 2017, the most popular “bitcoin” query was associated with an increase in the price of bitcoin.

The research data of the Bad Packets company, which monitors cybercrime, suggests that the decline in the air relative to the dollar did not stop the attackers trying to steal money from miners and investors.

Altcoins

Vulnerability of many Dapps in EOS network led to the fact that hackers could steal up to $1 million since July of this year.

We will wound a new token of Bitcoin Cash SV (BSV) which appeared as a result of Bitcoin Cash hardfork recently for so called double spending attacks.

The CEO of Dash Core Group (DCG), Ryan Taylor, said that despite falling of the cryptocurrency market his team possesses sufficient means for support of solvency of Dash.

Exchanges

Poloniex warned users about suspension of the auction on December 17, 2018. In the message of the platform on Twitter it is specified that this day there will take place technical maintenance.

Kraken decided to raise money, offering the "elected" investors a stake in the company. Kraken is estimated at $4 billion, and the minimum contribution of future shareholders will make $100,000.

Coinbase was the leader among trading platforms by the number of active users. According to the last information, now the Coinbase platform has about 422,000 active traders that impresses as the cryptocurrency market continues to decrease.

Regulation

Deputies of the Russian State Duma submitted for consideration a package of the bills forbidding to publish "the unreliable information having the public importance" in media and the Internet. According to Alexander Zhuravlyov, the author of the educational program in the field of a blockchain supported by the State Duma, the bill, most likely, will cover also the cryptocurrency sphere, in particular – the fraudulent ICO projects.

The chairman of the Commission of the USA on securities and the exchanges (SEC) Jay Clayton spoke advantages of ICO to attraction of the capital though, with considerable caution. He noted that SEC and its employees "spent a significant amount of time" for a blockchain and cryptocurrency assets and that this trend will proceed next year.

Commodity Futures Trading Commission (CFTC) seeks to study more about ethereum technology and the markets that are built around this cryptocurrency. On December 11, American derivatives regulators announced that they were starting a consultation process on the use of the broadcast.

The Financial Action Task Force on Money Laundering (FATF) stated that it found a gap in the defense mechanisms of the UK, and these are cryptocurrency, more precisely, their uncertain legal status.

The research team established by the government of India concluded that all virtual currencies in the country should be outlawed. The task assigned to the employees of the group by the authorities was to create a bill regulating the circulation of cryptocurrencies.

Venezuelan President, Nicolas Maduro, announced that all Venezuelan oil will be sold abroad exclusively for Petro tokens, the national cryptocurrency on the Ethereum platform. The Russian authorities are not planning to use the Venezuelan state cryptocurrency Petro.

South Korean blockchain-startup Presto intends to file an appeal to the constitutional court of the country in connection with the current ICO ban.

The Central Bank of the Netherlands is considering options for launching a cryptocurrency licensing program.

Problems With Law

AriseBank CEO, Jared Rice, and co-founder of the company, Stanley Ford, will pay more than $ 2.5 million fine under an agreement with the SEC.

Japanese prosecutors claim 10 years in prison for Mark Karpeles, the former CEO of the Mt. bankrupt bitcoin exchange. Gox. In the Tokyo District Court, prosecutors stated that Karpeles used clients' funds for his personal purposes.

The press service of the Perm Krai Prosecutor’s Office reported the confiscation of 1 million Russian rubles in digital currency from a local drug dealer, and law enforcement officers in Naberezhnye Chelny detained an 18-year-old local woman who was cashing cryptocurrency. According to investigators, the girl was engaged in the sale of drugs.

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