Martes, 16 Octubre, 2018

Bitcoin Pares Gains After Surge to Record Highs on Split Rumours

Bitcoin strives to hit $10000 Bitcoin Pares Gains After Surge to Record Highs on Split Rumours
Frascuelo Febo | Noviembre 19, 2017, 18:28

The latest surge in bitcoin comes on the back of reports that å small group of Bitcoin miners -users who help maintain the system by validating transactions stored in "blocks" on the network - are planning to initiate the SegWit2x upgrade of the underlying software supporting bitcoin despite the developers behind Segwit2x suspending the upgrade last week. While trolls have trolled trolls and forkers have forked forks, we've bypassed the bitcoin bickering to focus on the news that matters.

Subsequently, after Segwit2x did not succeed, Coinbase re-enabled all Bitcoin services at 06:17 PST.

Payments company Square started to allow customers to buy and sell Bitcoin earlier this week and the Chicago Mercantile Exchange said it would offer Bitcoin futures by the end of the year, a move that could open the currency to a host of institutional investors. There has already been one hard fork. The update is expected to activate on Friday.

Following the Segwit2x cancellation, Bitcoin Classic shut down, and Bitcoin Gold was launched. Bitcoin futures and investment funding was the talk of the town, with every CEO and their secretary weighing in.

It's difficult to say whether the recent downturn in bitcoin's price was correlated with the surge in bitcoin cash value. But as the weekend neared, it wasn't just atomic swaps that were blowing up - so were Segwit2x developer Jeff Garzik's Twitter mentions. The potential also exists for another type of cryptocurrencies such as Ethereum or Litecoin to take over the dominating part of the market, but this has yet to happen in the market.

The cryptocurrency exchange CoinBase said a large number of bitcoin "miners" people who provide the computational power that underpins bitcoin in exchange for the chance of financial reward could now go ahead with their own upgrade, setting of speculation that this could trigger a fork. Forked coins are the new airdrops are the new ICOs. Custody could change that dynamic for good.