On today’s episode of The Cryptoverse…
I have hand picked 5 top crypto news stories of the day, including stories on the size of the next bull run, a new crypto documentary, upgrades to the Monero network, a potential increase in centralisation of mining in China and the decentralised journalism platform Civil failing to reach its minimum fundraising target.
Table of Contents:
The Next Bull Run 1:06
Cryptopia Documentary 4:02
Monero Upgrades 5:14
Civil ICO Refund 7:26
US Tariffs On Mining 9:06
Charts Of The Day 11:16
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WHY FIDELITY JUST REMOVED A ‘HUGE OBSTACLE’ TO INVESTING IN CRYPTOCURRENCIES
https://bitcoinist.com/fidelity-nasdaq-not-alone-cryptocurrency/
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Torsten Hoffman has a new movie coming out called Cryptopia
https://www.kickstarter.com/projects/bitcointheendofmoney/cryptopia-bitcoin-blockchains-and-the-future-of-th
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Monero to Become First Billion-Dollar Crypto to Implement 'Bulletproofs'
https://www.coindesk.com/monero-to-become-first-billion-dollar-crypto-to-implement-bulletproofs-tech/
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Media Startup Civil to Issue Refunds as $8 Million Token Sale Fails
https://www.coindesk.com/media-startup-civil-to-issue-refunds-as-8-million-token-sale-fails/
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US Trade Tariffs Hit Chinese Miners
https://www.trustnodes.com/2018/10/16/trumps-tariffs-hit-chinese-miners
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Charts of the day
https://coinmarketcap.com/currencies/gemini-dollar/#charts
https
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https://www.youtube.com/watch?v=RQd9Ai92zMw
**On Today's Episode Of The Cryptoverse:**
Remittance giant Western Union has been fined $586 mln after admitting to money laundering and supporting fraudulent wire transfers. The penalty of $586 mln will be used as a refund for the victims of the crimes.
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**Sources:**
[Cryptocurrency Prices Provided by CoinMarketCap.com](http://coinmarketcap.com/)
[The Bitcoin Price Chart Provided by BitcoinWisdom.com](https://bitcoinwisdom.com/markets/bitstamp/btcusd)
[The Original Post on The Cointelegraph](https://cointelegraph.com/news/western-union-fined-586-mln-for-money-laundering-fraudulent-transfers)
Produced by Cryptoversity.com the online school for learning about Bitcoin, crypto-currencies and blockchains.
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Story - Ethereum Community Reject Hard Fork To Recover 500,000 Ether
https://themerkle.com/parity-will-not-pursue-hard-fork-to-unfreeze-500000-ether/
So just a quick back story to get everyone on the same page.
Parity technologies created a multi signature Ethereum wallet based on some code that the Ethereum foundation wrote and the community checked.
Parity made some further developments to it in their own version which turned out to have some bugs and security flaws.
As the story goes some ‘amateaur’ programmer managed to accidentally run a kill function that caused the smart contract to delete some of its own code.
Some of the code that was deleted was the feature that allows Ether to be withdrawn from these multi signature wallets.
Several ICOs including Iconomi now collectively have 500,000 Ether in these multi signature wallets with no way to withdraw or move the funds.
At today’s price of approx $800 that’s $400m.
The update today is that unlike when Ethereum hard forked to restore the funds stolen from The DAO, this time the Ethereum community has rejected the idea of doing a hard fork to forcibly re-insert the deleted withdrawal code and store the functionality to the multi sig wallet.
One of the most appealing features about a blockchain is it’s immutability, once data is saved it’s permanent and you can trust it 100%.
When Ethereum hard forked and basically re-wrote history to fix The DAO issue, it caused so much controversy that it gave birth to Ethereum Classic, which maintains the original version of history unchanged.
The bottom line is that this 500,000 Ether is still locked inside this smart contract with no way to get it out.
I’m glad that the Ethereum community has decided not to hard fork this time, however with Ethereum averaging 1m transactions per day now, it’s almost impossible to change history again.
There’s too much activity on the network now.
What do you think? How would you suggest they fix this? Is Parity Technologies even obligated to fix this? Let me know in the comments.
Story - Central Banks Will Add Bitcoin To Their Core Asset Holding In 2018
https://cointelegraph.com/news/blockchaininfo-ceo-central-banks-will-hold-crypto-in-reserve-in-2018
This is accord to PEter Smith the CEO of Blockchain.info.
He said this in an interview on CNBC.
He said that in 2018 we will see central banks starting to hold digital currencies on their balance sheet alongside existing holdings of gold and various fiat currencies.
Those purchases will no doubt be done over the counter so they won’t show up on any exchange.
Peter also said following the acquisition of Bitcoin on central banking balance sheets he expects central banks to start issuing their own digital assets.
To my mind, the only real wa
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This is part 4 of a mini series I shot with Josh Riddet from Easy Crypto Hunter https://www.easycryptohunter.co.uk the UKs premier GPU mining hardware provider. In this mini series we talk about the motivations, myths and secrets to profitable GPU mining.
Subscribe to make sure you get to see all the episodes of this mini series. Here is the playlist: https://www.youtube.com/playlist?list=PLVTvCIqoYLSI88I3JY0TnU3-jjcqBfr8g
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Here's an interview segment from the New Kids On The Blockchain show this week. Ash and I spoke about the current state of DeFi and whether this will be a boom similar to the 2016 / 2017 boom in ICOs.
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Story - BitConnect Shuts Down 0:05
https://bitconnect.co/system-news/94/changes-coming-for-the-bitconnect-system-halt-of-lending-and-exchange-platform
I have finally broken my silence on this.
For the last year I would say, tons of people have asked me about BitConnect, what I think to it and whether I would do a video on it.
I have categorically refused to talk about it at all.
When someone would ask me about it on a livestream I would just not comment positively or negatively.
Energy flows where attention goes remember and I chose not to give BitConnect any energy.
It doesn’t seem like much of a coincidence to me that on the day we had one of the biggest market corrections we’ve seen, BitConnect would bring a halt to their platform.
The reasons they give for this are:
Bad Press
Cease and Desist letters from local governments in the US
Constant DDoS attacks on their servers disrupting their service
They are closing their exchange and lending platform but keep the website up to provide wallet services, news and education.
The BitConnect coin will still exist however at time of recording:
https://coinmarketcap.com/currencies/bitconnect/
BitConnect is trading at $14.98, which is down 93% from 24 hours ago.
Despite all this, they are continuing with their bitconnectx ICO:
https://bitconnectx.co/
This is a brand new cryptocurrency, bccx. That’s ballsy, very ballsy.
Unfortunately bitconnect were targeting people who were both naive and wanted to get rich quick, which is one and the same really.
I often say “It takes 10 years to get rich quick.” Which means you spend 10 years learning, preparing and growing and then you’re able to make money fast.
But that comes from what you have become, not from some secret sauce or scheme.
You can have a million dollars in the bank, but that doesn’t make you a millionaire. A millionaire had the skills to make a million, which means if they lost it, they still possess the skills to make it again.
Story - GDAX Will Open BCH-BTC Trading Pair Today at 9 am Pacific Time 4:18
https://twitter.com/GDAX/status/951863685533741057
Then according to the official GDAX status page:
https://status.gdax.com/
This is a staggered release.
Post only means you can place an order that everyone can see, but it will not be processed.
That gives all traders time to see what the rest of the market is going to do, so they can adjust their orders. Other trades will adjust their orders in response, and back and forth.
This will all happen on paper until there’s somewhat of a consensus on what the opening price wi
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https://www.youtube.com/watch?v=Ou2cUxG87YY
What if there was a way we could create huge financial incentives for people to tell the truth?
Well, I’m going to spend the whole episode today talking about a new Ethereum based project that is going to do just that.
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https://www.youtube.com/watch?v=fbHa_NNbby8
On Today's Episode Of The Cryptoverse:
I have a chat with Jeremy Epstein from Never Stop Marketing, a blockchain marketing company assisting the likes of OpenBazaar.
Today's episode is sponsored by Vaultoro, the one of a kind online exchange where you can trade between Gold and Bitcoin. Reserves can be audited online at any time and are protected from confiscation and company failure.
[Click here to learn more](https://www.vaultoro.com/?a=100678)
**Please Support The Cryptoverse And Boost Cryptocurrency Adoption By Becoming A Cryptoversity Patron:**
Make a regular contribution and you'll help to secure Cryptoversity's future, get unlimited access to all Cryptoversity courses as well as a private Telegram chat group where you get direct access to me:
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