First National Cryptocurrency / ETH Hardfork Next Week

in cryptocurrency •  13 days ago


On today’s episode of The Cryptoverse…
Here are the top 7 crypto news stories for today in the quick fire roundup format.
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The Poloniex Crypto Exchange Have Announced They Are Going To Remove Lending And Margin Trading For US Customers
https://blog.circle.com/2018/10/03/poloniex-to-remove-margin-and-lending-products-for-us-based-customers/

Bitcoin Startup Acinq Raises $1.7 Million to Double Down on Lightning Network Development
https://www.coindesk.com/bitcoin-acinq-raises-1-7-million-lightning/

Venezuela Makes History As President Maduro goes on TV and announces that the Petro Is To Official Become A National Currency
https://news.bitcoin.com/venezuela-petro-new-whitepaper/

Gemini Exchange Secures Insurance Coverage for Digital Assets
https://bitsonline.com/gemini-exchange-secures-insurance/

A Quick Reminder That Ethereum’s Constantinople Hard Fork Hits the Testnet Next Week
https://nulltx.com/ethereums-constantinople-hard-fork-hits-the-testnet-next-week/

Despite The Ongoing Bear Market Coinbase Continues To Add 25,000 New Customers Per Day
https://bitsonline.com/coinbase-25-million-users/


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The news on the insurance for Gemini accounts is actually a good sign as it should add more interest from institutions as it could be a good development in the custodial concerns they have had for a while.

Great idea on providing accounts for your Patreons! The new account creation system definitely provides great flexibility and opportunity to grow the community. Thanks!

My only problem with the petro is that it is backed by an unaudited asset. What's to stop them minting substantially more petro than they have backed. Centralised crypto raises the same concerns as FIAT imo.

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Exactly. It isn't audited and even then I wouldn't trust the government to get an independent auditor.

The new version (1.3 maybe after all the changes) of Petro's white paper is a cheap copy of Dash's white paper...Venezuelan Government has to take into consideration in order to have all the masternodes online they need stable electricity and internet connections...things that right now in the chaotic country is hard to get.

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LOL very good point

Three things about the petro.

1.- It was first launched on march. The president Nicolás Maduro said in that occasion that was a success, but anybody in Venezuela had seen the money neither the petro. Maduro government is characterized for lying.

2.- Poor people in Venezuela is suffering because the hyperinflation. Petro don't solve it.

3.- Maduro's government is one of most corrupt in the world (Don't belive me see Transparency International index) https://www.transparency.org/news/feature/corruption_perceptions_index_2017#regional
)

Bonus: Maduro said that the petro is already in "the six most important exchanges in the word". Have you see it in any of them?

I think it's great the Venezuela government is using "Petro" crypto to make life better and I think it's funny that they copied off of Dash. They are using the same mining algorithm, and parts of its whitepaper are exactly the same.
Merchants and residents have already been using the real Dash out there to trade for goods. Venezuelans really love Dash... LOL! Thanks for the info!!!

It's a good thing that ordinary people of Venezuela can use Petro too. But I'm still sceptical about the whole concept of a centralised state-controlled cryptocurrency.

Thank you for covering this news, Chris!

I wonder how much bitcoin the average or median customer on coinbase holds. Is there some metric for this somewhere?

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Good question, I don't know where to get that kind of data

Very much looking forward to the ETH fork exciting times in crypto

The Crypto Peso is so much faster with its use of the EOS network. Can't wait to interview their team.

petro ! the name of crypto based on petrol, in a economy starting to get rid of petrol.

I'm so not surprised that they copied Dash. Might be a strategy to confuse users into thinking they are Dash when sending/receiving payments. Or maybe they were just lazy and want to make a quick buck $$.