🗞 Daily Crypto News, October 26th 💰

Everyday, I bring you the most important CryptoNews so you can stay updated with the latest developments.

• Indonesia’s Central Bank Bans Bitcoin as Method of Payment
• Bitcoin Gold Shakes Prices While Industry Ups 2x Rhetoric
• Russian Entrepreneur Files for Trademarks on Vodka Brands “Bitcoin” and “Ethereum
• Bitcoin’s Upcoming SegWit2x Hard Fork, Put in Layman’s Terms
• AMD CEO Sees 'Leveling Off' in Cryptocurrency Mining Demand
• App Maker Kakao Begins Beta Testing New Cryptocurrency Exchange
• BTC Trading Update by @cryptopassion

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🗞 Indonesia’s Central Bank Bans Bitcoin as Method of Payment

Recent reports indicate that Indonesia’s central bank has decided to crack down once again on Bitcoin, stating that it represents neither a legal nor recognized medium of exchange and payment in the country.

Back in February 2014, Reuters reported that Indonesia had decided to ban the use of digital currencies. A press statement issued by the country’s central bank at the time read: “Bitcoin and other virtual currencies are neither currency nor legal payment tools in Indonesia. People are advised to be careful about Bitcoin and other virtual currencies”.

Read more & Source: https://themerkle.com/indonesias-central-bank-bans-bitcoin-as-method-of-payment/

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🗞 Bitcoin Gold Shakes Prices While Industry Ups 2x Rhetoric

Bitcoin dipped back below $5,500 Wednesday as a three to six percent downturn hit the majority of cryptocurrency markets.

36 hours after Bitcoin Gold became the second fork of the Bitcoin network, Bitcoin prices came down from their $6,100 highs to hit a low of $5,479, according to data from Bitstamp.

$10 bln has also disappeared from Bitcoin’s market cap since hitting the highs, with market dominance remaining above 56 percent.

Electric fabric startup Loomia’s Blockchain director told the publication:

"These forks are very bad for Bitcoin. Saturating the market with different versions of Bitcoin is confusing to users, and discredits the claim that there are a limited number of Bitcoins - since you can always fork it and double the supply.”

Read more & Source: https://www.cointelegraph.com/news/bitcoin-gold-shakes-prices-while-industry-ups-2x-rhetoric

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🗞 Russian Entrepreneur Files for Trademarks on Vodka Brands “Bitcoin” and “Ethereum

Image Credit

Russian native and entrepreneur Dmitry Troitsky has plans on creating a product line of vodka named after some popular cryptocurrencies. Troitsky has filed for trademark patents in order to develop three distinct vodka brands called “Bitcoin, Ethereum, and Ethereum Classic.”

“I can not say yet how it will look and when it will be released — but I’m sure that vodka can be useful.

Image Credit

Read more & Source: https://news.bitcoin.com/russian-entrepreneur-files-for-trademarks-on-vodka-brands-bitcoin-and-ethereum/

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🗞 Bitcoin’s Upcoming SegWit2x Hard Fork, Put in Layman’s Terms

You may have noticed the increase in Segwit2x news, opinion, posts, rants, and memes circulating throughout various media sources. You may have seen some of this media and been completely lost, as if you were reading a different language.

We will call today’s version of Bitcoin “legacy Bitcoin.” Right now, there is a 1 MB limit to the size of blocks. This was done by Satoshi to keep network nodes from coming under attack when Bitcoin was very young. He picked 1 MB as the limit because blocks were 99% empty at the time, and he expected there would be plenty of time to upgrade the system later when needed.

Not everybody was happy with just implementing SegWit, and preferred to increase the maximum size of Bitcoin’s blocks as well.

One of the main concerns people have is that SegWit2x does not provide replay protection (until recently, when Jeff Garzik, the overseer of development for SegWitx, introduced an opt-in replay protection scheme).

SegWit2x is a hard fork that will occur around November 16, 2017, and as a result of the hardfork there will be two chains, one will be Bitcoin Core (legacy Bitcoin) and the other will be the SegWit2x version of Bitcoin. If the fork continues to be supported by the overwhelming majority of miners, there will be serious confusion over which chain is the “real” Bitcoin.

Read more & Source : https://www.cointelegraph.com/news/bitcoins-upcoming-segwit2x-hard-fork-put-in-laymans-terms

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🗞 AMD CEO Sees 'Leveling Off' in Cryptocurrency Mining Demand

As CEO Lisa Su said on the earning call:

"In terms of the headwinds … we're also predicting that there will be some leveling-off of some of the cryptocurrency demand."

Read more & Source : https://www.coindesk.com/amd-sees-long-term-leveling-off-cryptocurrency-mining-demand/

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🗞 App Maker Kakao Begins Beta Testing New Cryptocurrency Exchange

According to Song Chi-hyung, CEO of Dunamu, Upbit is aiming to offer services optimized to the domestic trading environment.

He said:

"With the partnership with Bittrex, we are not only able to support the largest number of digital currency trading services but also have addressed problems such as inconveniences of existing altcoin investment, time delays and complicated account management."

Read more & Source : https://www.coindesk.com/south-koreas-kakao-app-maker-is-launching-a-cryptocurrency-exchange/

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BTC Trading Update by @cryptopassion

As foreseen in my last publication, we are currently testing the resistance line of the triangle that we broke 2 days ago:

This line is very important for the future trend of the Bitcoin. If we break this resistance line, it is really a sign that the market want continue to do new highs. If we cannot break it, it should confirm that a the bearish trend is taking place.

🗞 Daily Crypto News, October 25th 💰

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​🗞 Daily Crypto News, October 21th 💰

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