Bitcoin, the world’s most popular cryptocurrency, experienced a fork on 24th October 2017 and is heading for another in mid-November. At eToro, we only support a fork if we feel it has a clear direction and purpose. The safety of our customers’ funds is paramount, and we have maintained this position whenever we have added new instruments to our platform. Based on our assessment of the upcoming forks, and their potential impact on our business and customers, we are releasing the following statement: What is a hard fork? A hard fork occurs when a software update is introduced to the existing blockchain, which isn’t compatible with the existing blockchain software. This forces the blockchain to split in two. One blockchain will follow the new set of rules, while the other continues to follow the original set. Forks are commonplace within the industry and they act to update the relevant blockchain. If there is consensus within the community one chain will survive. If no consensus is reached, then both chains remain and a new crypto coin (asset) is created as was the case with Ethereum and Ethereum Classic and Bitcoin and Bitcoin Cash. The Bitcoin2X (B2X) fork – also known as SegWit2X At eToro, our first priority is to our customers and the security and stability of our platform. During hard forks, there may be periods when the Bitcoin network is unstable. For example, in the case of the upcoming Bitcoin2X fork, there is no Replay Protection, which may lead to transaction errors and double spending. With this in mind and taking into account available information, eToro will halt trading prior to the fork – further details will be provided via email, closer to the date. Furthermore, all short positions (manual and copied) will also be closed automatically, prior to the fork. Subject to the fork occurring as planned and the new B2X coins being issued to all BTC holders, eToro among them, eToro customers holding a non-leveraged long position will be credited on a 1:1 basis with B2X. This will be in accordance with their open BTC positions at the time of the Bitcoin fork and until the credit date. Please note that it might take sometime before the B2X coins are credited to your account and is highly dependant upon several external factors, such as the stability of the network. eToro will refer to the Bitcoin Core coin as BTC and the newly created coin as Bitcoin2X (B2X) Additional information including how to redeem your coins will be provided nearer to the date. Bitcoin Gold Fork eToro will not be supporting the Bitcoin Gold fork. There is little clarity on this fork from the development community, and there are currently no major exchanges nor wallets or mining pools supporting this fork. If this changes significantly in the future, eToro may review its decision. If you have any further questions, please contact your account manager, or come chat to us via our platform. All trading involves risk. Only risk capital you’re prepared to lose. The information above is not investment advice.
Btcu is a new bitcoin fork created with the participation of the developers are working on improving the Btc blockchain. The Bitcoin Ultimatum blockchain provides smart contracts in the blockchain protocol as one of the important functions for the execution of transactions.
Hello OB, we have created a new BlockStamp Search that we hope you will enjoy. It's a very fast one and prone to censorship, allows vendors to promote their products with use of BST (our native cryptocurrency) We would love you to try it out: https://bazaar.blockstamp.market/ If you wish to promote your product follow the steps https://bazaar.blockstamp.market/about or just create a BlockStamp wallet at https://wallet.blockstamp.info/ and click promote next to your product at BlockStamp engine! Add it to your search at OB app you have to click "+" sing at the enter: https://bazaar.blockstamp.market/api/search Test it and let us know what you think! TODO: - we will add a negative fee of -0.00000001 BST to the promotion fee for all products that are "reported" (for each submitting ip). - we will add a secure blockchain-based communicator to exchange private messages between blockstamp nodes. About BlockStamp: BlockStamp is a multipurpose Bitcoin blockchain fork developed to promote liberty, transparency, and sovereignty in areas of the digital economy where these fundamental values are most at risk. BlockStamp hosts a radically fair gambling platform, a digital tool for transparently sealing data, a censorship-proof internet Domain Naming System, and the BST crypto coin. Facebook Twitter Reddit LinkedIn GitHub
On the new batch of comments to the SEC about the SolidX ETF, some honorable mentions, and some negative comments
The SEC just posted a new batch of 286 comments on the SolidX ETF, bringing the total to 1147. I am skimming through them and posted some of the best already to this sub. The vast majority are short comments, obviously submitted in response to some mail-in campaign. The names sound very much like the invented ones of spam emails that I have been receiving for years. A telling detail is the lack of a middle initial. They also mostly repeat the same arguments, and many are obviously written by people who don't understand what is the ETF, only that if that SEC thing approves it then the bitcoin price will go to the moon. I have just seen a dozen that start with the same phrase "I hearby[sic] state my acceptance and full support..." Some are so sloppy that they submit with one name but sign with a different name. Here are some honorable mentions:
Secured by math: "Please allow Bitcoin ETF as Bitcoin is an implementation of the perfect math and therefore based on the truth. Math has brought prosperity for mankind"
The New Age approach: [In Spanish] "Cordial salute. The new age of aquarius, which is the age of conscience and light, brings with it bread under the arm, in the second world war when the enigma code was deciphered to end the devastating war, we were at the door of the new age, and cryptography was making its first redeeming steps. Why resist what is good and favorable, when thanks to cryptography the second world war ended, and now it gives us again the hand, to an anti-corrupted technology, which wants to end a war disguised as crime, drug traffic, and political corruption, war that is carried out in silence and keeps obstaclizing the good development of mankind. Blockchain the technology of the new age of aquarius. Approved."
Johnny I: "an asset as it sits on the highly volatile market where distribution of coins are unevenly formed by small number of holders across the world (1% of addresses own 80-90% mined coins) who could manipulate prices effortlessly over the fake news. Also, sky-rocketing mining cost and inevitable hike of transfer fee (soon it will be only source of revenue for miners) will cast doubt to sustainability for a public investment tool. Bitcoin ETF would only serve as investing fads."
Mark Szyszkowski, CCRCP.org: "[...] Where is the intrinsic value derived from? What is the backing of Bitcoin? What is the definition of purely cyber infrastructure? Who runs it? How is expansion allocated and its technology upgraded? What inherent technological security risks does it have? [...]"
D. B.: "The Proposed Rule Change does not appear to detail the policy and procedure in event of a bitcoin blockchain fork. "
William Morrison: "The abundance of comments submitted on subject of this ETF speaks clearly: there is a mass of unsophisticated retail investors---most with no previous investing experience---looking to get rich quick or make back losses from the Bitcoin market plunge over the last half year. And of course the many savvy retail and institutional investors more than happy to take advantage of them. [...] For all the comments urging the importance of the United States being at forefront of blockchain or distributed ledger technology and innovation by allowing a Bitcoin ETF, few if any are able to explain why it is hinged on expansion on the wholly speculative nature of this asset class. [...] it is telling that the mention-able examples of companies succeeding in this sector are mining equipment manufacturers (https://www.cnbc.com/2018/02/23/secretive-chinese-bitcoin-mining-company-may-have-made-as-much-money-as-nvidia-last-year.html) and online cryptocurrency exchanges (https://www.businessinsider.com/binance-cryptocurrency-exchange-profit-prediction-2018-7). In other words, casinos are the biggest profit-makers in the market of gamblers."
Ken I Maher: "[...] There is improvement from 2 years ago when 96% of volume occurred unregulated in China but this leaves 86% of market activity still under no official established regulation against fraudulent trading activity or manipulation. US bitcoin exchanges still blindly and automatedly follow the dominant unregulated markets due to their own thinness of volume and liquidity. [...] More incredible is the emergence of USDT (Tether) a cryptocurrency token issued by a single exchange that claims to be 'pegged' to USD value and unprovenly to be backed by USD reserve. It now commands over 130% of global trading volume compared to all fiat pairs. [...]"
Kash Ranks: "In a world where making a daily living is hard enough, how can you in good conscience, allow a speculative/scam instrument like Bitcoin to exist let alone approve an ETF. Blockchain has its merits but Coins are nothing more than a digital scam which is robbing people of their hard earned money and enabling speculative fervor."
Ran Lagil: "[...] can one claim that the price action of the bitcoin spot market in the unregulated exchanges, which holds the vast majority of volume, as acknowledged by the SEC, doesn’t affect the XBT future market? Of course not. In any financial market where arbitrage is available, the price change in one source will affect the rest of the market. [...] Please find the bellow image which demonstrate the volume manipulation in the ETCBTC market in the world largest Crypto Exchange - Binance. [...]"
Peter Quinn: "Bitcoin is a pure speculation vehicle with no traditional value or commercial/industrial use. It has no fundamentals, is exceptionally volatile and is easily manipulated due to poor market liquidity and no market regulation. A CBOE listed ETF that is proposing to be a passive Bitcoin holding vehicle is nothing more than trying to get a broader pool of investors involved in something that would never be allowed for listing on a regulated stock exchange if it was a company. [...] Additionally, much of the purported size of Bitcoin is an illusion, with "market cap" as reported on private websites such as Coinmarketcap.com taking all coins ever in existence multiplied by an average of the last traded price in dollars. Volume is commonly reported as all Bitcoins traded in dollar value even if, as is the case, most of them did not trade against hard currency at all, instead trading against other cryptocurrencies or Tether, a purported 1:1: USD backed cryptocurrency that has been used to artificially pump the price and is more comparable to counterfeit money. [...]"
Sam Ahn: "I am opposed to the whole idea of bitcoin, because bitcoin does not have intrinsic value and SEC was created to prevent sale of pieces of the blue sky. [...] Bitcoin is a commodity money, which cannot be a store of value without having its own value established before becoming money. "
Playing devil's advocate- "Why Bitcoin will crash to $0", by a Bitcoin supporter.
OK, let me start by saying that I think the general idea of a cryptographic currency is a brilliant one. I can definitely see Bitcoin establishing itself as a major world currency, and basically doing to fiat currencies what email did to the postal system. However, whenever I mention Bitcoin to anyone, I strongly encourage them not to invest more than they are prepared to lose. I myself only own 10 BTC. Why? Because Bitcoin has flaws, and it has potential enemies, and I think there's a very good chance that the currency could be basically destroyed overnight. THE PROBLEMS:
The code. Bitcoin is not a magic black box. It's a complicated piece of open-source software, written by a community of volunteers and hobbyists with various degrees of ability. IT CONTAINS BUGS. What these bugs are and how serious their symptoms will be remains to be seen, but we have already had a few serious problems (such as the 0.7/0.8 fork) and it's likely there will be more to come.
The value of exploits. With the soaring value of Bitcoins, it is likely that it will increasingly become a target for attack. If someone can find and exploit a flaw, they can make a fortune. Due to the nature of Bitcoin, it would be almost impossible to discover the culprit or recover any losses. This was already happening when there was almost nothing to gain from it!
Government intervention. Currency manipulation is one of the core economic controls of government. Mass adoption of Bitcoin would render this tool ineffective, or even unusable. It's certainly conceivable that the US or EU could implement a blanket ban on Bitcoin trades, which would utterly cripple the currency's expansion. As we're now hitting the point where large-scale funds are buying into Bitcoin, such a move would cause a rapid exodus of significant funds, by a few small high-worth individuals over a very short timescale. This, combined with the effect of legislation, would almost inevitably trigger a large-scale panic sell-off, and there would be no market remaining to allow for the currency's revival.
Corporate sabotage. Moneygram, Western Union, Paypal. Just three examples of multi-billion dollar multinationals with business models which would be rendered obsolete should Bitcoin achieve widespread adoption. Bitcoin, despite its rapid expansion and long-term potential, is tiny compared to many large organisations which have a vested interest in seeing the currency fail. At its current size, the Bitcoin economy could be toppled for a handful of million dollars- enough to buy and sell large volumes specifically to cause huge price swings, to undermine confidence with smear campaigns, or to directly attack flaws in the software or the network that underpins it.
Fundamental flaws. The design of Bitcoin is not perfect. We're already seeing the blockchain becoming bloated by the micro-transactions of SatoshiDice. What if the volume of these were to rise a thousandfold, through deliberate flooding or simply through the natural expansion of the currency? We're already worried about mining guilds which have control of too much computing power. 51% is quoted as the minimum level required in order to subvert the Bitcoin transaction system successfully. This is not strictly true- 51% is simply the point at which an attack becomes more likely to succeed than to fail. It's perfectly possible that an entity with a significant non-majority of mining power could succeed in poisoning the blockchain with dishonest blocks. This can be attempted over and over again by a motivated group or individual, and it only needs to succeed once to cause irreparable damage to Bitcoin's credibility.
With the current public interest in the currency, the media spotlight focused on it, and the fledgling involvement of high-value investors likely to abandon Bitcoin forcefully if they foresee any potential losses, I believe that Bitcoin is extremely vulnerable at present. Any one of the problems listed could trigger a panic which would crash the currency overnight, and in a way that it wouldn't likely recover from. So, whilst I'm not concerned about the effects of speculative bubbles, and I do believe Bitcoin is destined for long-term success, I urge caution. Please, don't invest more than you can afford to lose.
The most extensive Bitcoin Fork and Bitcoin Hard Fork list. With Fork Dates, Coin distribution information, How to claim guides, and more! ... Fork Name Fork Symbol Blockchain Fork Date Fork Block Coin Distribution Status; Bitcoin Post-Quantum (BPQ) BPQ: Bitcoin: Saturday, December 22, 2018: 555000: 1:1: Forked: Bitcoin Zero: BZX: Bitcoin : Sunday, September 30, 2018: 0: 1 HXX : 1 BTC = 1 BZX ... How Does the Blockchain Fork? This discussion has been a topic mostly for the core developers for a very long time. They contribute and volunteer time to work on the Bitcoin core code, but Bitcoin is not under their control, and neither under the control of miners. There are smart minds on either side of the debate. However, the blockchain is apathetic to opinions. The new software allows for ... Eine Blockchain Fork (englisch für Gabelung) beschreibt im Bereich der Kryptowährungen das Projekt, durch Modifizieren des Quellcodes eine neue Blockchain von der ursprünglichen abzuspalten. So handelt es sich beispielsweise bei der Kryptowährung Litecoin um eine Abspaltung der Kryptowährung Bitcoin , da dessen Entwickler Bitcoins Quellcode kopiert und durch diverse Änderungen ergänzt ... Blockchain Forks 101. A blockchain fork is essentially a collectively agreed upon software update. Blockchains depend on decentralized groups of computers all working collaboratively. Each ... And that you can do so without causing the blockchain to fork? Last year Bitcoin has experienced two successful hard forks that split the blockchain into three distinct cryptocurrencies—Bitcoin, Bitcoin Cash and Bitcoin Gold. The two forks in August and November happened because people designed versions of the Core software that were incompatible with the original one they wanted to replace ...
BitcoinABC, BitcoinCash, UAHF, Bitmain, Fork - Was ist das?
Recently we’ve heard about a Bitcoin hard fork. But what is a hard ford? What’s the impact on a cryptocurrency and why are they created? In this video I'll e... Bitcoin split in two in August when the digital currency officially forked creating Bitcoin Cash. Bitcoin gold was created when bitcoin forked again in Octob... Today I want to talk about the importance of this upcoming Bitcoin Hard fork that's going to talk place on the blockchain causing 2 different types of Bitcon. BTC (Bitcoin) and BCH (Bitcoin Cash ... Is Bitcoin Dead? The Bitcoin Fork http://www.Ameerrosic.com You'll receive $10 in free bitcoin by signing up with this link http://bit.ly/2oesV41 Book Recomm... The Bitcoin blockchain is doing a hard fork and splitting on the 1st August 2017 into Bitcoin (BTC) and Bitcoin Cash (BCC/BCH). Make sure you have your priva...