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in #bitcoin7 years ago (edited)

30 October 2017 | SUBSCRIBE 

// BLOCKCHAIN WORLD SURPRISED POLITICS STILL EXIST

Bitcoin Gold, which aims to decentralise mining ability (and therefore control of the blockchain), forked Bitcoin this week as an apparent rejection of the specialisation in Bitcoin mining that has help lead to a centralisation of control over Bitcoin.

It is just another reminder that blockchains aren’t decentralised (yet), and are certainly not free of politics or governance issues; last week’s Tezos disaster is just one example of the back-room battles that are happening around the governance of every blockchain.

But it's clear that talking isn't enough - politics isn't enough - there is outright war. As our disaster of this week shows, with power and wealth at stake - much like in the world blockchains seek to replace - (digital) weapons will be deployed.

These are just manifestations of the hard lessons the libertarian crypto community is having to learn - that the politics, centralisation and control they are tasking blockchain with replacing is both very difficult to achieve - because people are still making the decisions - and most systems we have in place are good, protect people, and are, for the time being, here to stay.


Following on from my comments around Bitcoin’s market cap last week - it is exceptional that with just months of work, Bitcoin Gold currently has a ‘market cap’ of over $2 billion. The question is whether that is surprising, given it already has millions of users, and hundreds of key organisations supporting it?

// MUST READS

// PRICING SUMMARY

// DISASTER OF THE WEEK


Bitcoin Gold was attacked immediately after the fork in the Bitcoin main chain. Their website came under a sustained DDOS attack, which has impacted its early price ascendancy - futures are trading nearer $150, down from $500. These attacks involve a network of compromised computers, known as a botnet, which flood a website's servers with page view requests, leaving legitimate traffic unable to get through.

In this case, 10 million requests per minute rendered Bitcoin Gold’s site unusable.

// TRACTION

// ROAD TO REGULATION


Vladimir Putin orders to release a ICO regulatory framework by July of 2018.

The Financial Conduct Authority has accused financial institutions of withholding financial services from DLT start-ups in a detailed report on its sandbox.

// ICOS


Last week highlights:

  • Mingo raised $1.2m for a gamified cryptocurrency education platform

  • Blockv raised $21m for smart virtual goods on the blockchain

  • Unikoin Gold raised $33m for decentralized esport gaming tokens

Upcoming:

  • Cryder - Active - Decentralized taxi platform for freelance drivers

  • Dmarket - November 3, 2017 - Decentralized marketplace to turn virtual items into real commodities

  • Crypterium - October 31, 2017 - Aiming to be the leading cryptobank

  • Paycent - November 2, 2017 - Bridging the gap between fiat and cryptocurrency

  • Confideal - November 2, 2017 - A smart contract management service

// OTHER


Vitalik Buterin talks about the problem that blockchains have with privacy. Steve Wozniak's thoughts on bitcoin. Blockchain technology might solve the problem of toxicity that esports have.

// EVENTS


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as always, great stuff! Awesome newsletter, just what I need to start off the monday morning :)

thank you @blockz we appricate your support.

Great newsletter!

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