Top news and views about Bitcoin and Cryptocurrency for 14 Mar 2017
BitClub is Accused By Bitcoin Unlimited Supporters In Performing Malleability Attack on Network
BitClub, a Bitcoin mining pool, is accused of launching a transaction malleability attack on the Bitcoin network, the effect of which confuses wallets or businesses with financial transactions getting canceled and bringing a halt to Blockchain.info.
In a post from Bither, a Bitcoin wallet, it shows that the malleability attack transaction is mined in block 456545 and 456552 and that all transactions in this block may be malleability attack transactions.
Malleability is a problem that Bitcoin has dealt with for many years. However, it’s a problem that has yet to be fixed. Some say that given the fact that you need special software to change transactions while still making them valid, makes this attack politically-motivated.
With the nerves of the Bitcoin community tense on the eve of the Bitcoin ETF decision, the public space is ripe with accusations and conspiracy theories.
Full story at http://bit.ly/2mTqDKe
Bitcoin Price Can Climb Far Above Clif High’s Estimate of $13,000: Factors & Trends
Clif High’s estimation that three ounces of gold would be equal to a Bitcoin in price by this time next year remains a bizarre proposition that is not impossible to achieve.
In a way, a predicted Bitcoin price rise from a meager $1180 to more than $13,000 seems attractive and the technicality of how that would be the case defies common understanding of the law of demand and supply. It could be a repeat of the 1979/1980 scenario.
This link to a historical event particularly fits in with the fact that High’s data sets have been proven accurate in other instances and his latest estimate show that Bitcoin price would be hinged on the rising price of gold - from $1206 today to about $4,800 by March next year, about a 300 percent increase.
Full story at http://bit.ly/2mTjY2n
Why Bitcoin Didn't Need an ETF to Begin With
The Bitcoin community doesn’t seem to be bothered by the US Security Exchange Commission’s decision to disapprove the Winklevoss twins’ Bitcoin ETF COIN like many analysts expected. The market’s stability after the denial of the COIN ETF led to discussions on why Bitcoin didn’t need an ETF to begin with.
Bitcoin is one of the only currencies or networks in existence which facilitates payments between two users with the absence of a mediator or a network administrator. Within Bitcoin, regulations are non-existent and manipulation-free transactions can be made, regardless of the amount or the size of the transaction.
While Bitcoin wasn’t necessarily designed to replace fiat money, it was introduced in 2009 to serve as an alternative to the global financial structure and ecosystem. Satoshi Nakamoto, the creator of Bitcoin, wanted to present a cash-like settlement network in which users aren’t required to undergo impractical and inefficient settlement processes in order to send and receive money from one another.
Over time, Bitcoin as a decentralized technology evolved, with the work of the Bitcoin Core development team as well as Bitcoin’s global and open source development team of contributors. The Bitcoin network’s hash power began to secure the network from external attacks and welcome tens of millions of new users into the network.
Full story at http://bit.ly/2mTk0av
Prepared by @SydesJokes
Original post from: http://CrowdifyClub.com/SydesJokes
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