November 21st, 2017
In my humble opinion...
creating drama is easy as 1,2,3...
Step 1: fork Bitcoin blockchain Step 2: copy all Litecoin software features Step 3: airdrop "BitLite" onto Bitcoin hodlers Step 4: fork Litecoin blockchain Step 5: copy all Bitcoin features Step 6: airdrop "LiteBit" onto litecoin holders Step 7: 🍿
— Francis Pouliot (@francispouliot_) November 20, 2017
Coin of the Day The environmentally friendly blockchain
(CRYPTO: EARTH) If you believe climate change is real, or you're looking for ways to preserve the Earth's natural resources, Earth Token is the coin for you. Earth Token connects buyers and sellers in the natural resources market through the blockchain, which allows for efficient transactions, eliminates third-party registries, and provides a democratic way to invest in natural resources. It also enables everyone to invest in natural asset projects with sustainable and long-term returns. The current corporate environment is shifting towards a more eco-friendly mindset, but it's inefficient and costly. Earth Token has plans for application in various activities, one of which is lodging in hotels, where guests would be incentivized to mitigate negative environmental effects during their stay.
So, a mere 24 hours after reporting on Bitfinex's potential Tether problem...Tether gets hacked.
On Sunday, the Tether Treasury wallet on the exchange Bitfinex had $30 million worth of Tether stollen. This came fewer than 24 hours after major concerns were raised about a few key issues Tether's been having, primarily concerning security and liquidation. The Tether team released a statement that explained the situation, as well as a "temporary hard fork" that will ensue in order to freeze the money currently being transferred to the hacker's wallet. It's all very complicated and dramatic, but it unfortunately supports the crypto community's general complaints about the Tether system: it needs some work, stat.
The Tether team also caught some serious flack for not announcing the hack until almost a full day later, and some serious questions were raised. Some online users claim that the Tether treasury wallet was created the same day of the hack, that the exchange withdrawal limits would have prevented the attack, while others just straight up declared that the hack was an inside job. There were a lot of emotions floating around Twitter last night.
Tether quietly did a hard fork to blacklist a specific address and freeze funds.
Three questions: 1. Who controls the Omni ledger and who can perform these kinds of operations? 2. Why was this address blacklisted? 3. Which other addresses are next in line? https://t.co/V13170NXae
— Emin Gün Sirer (@el33th4xor) November 21, 2017
To create a market disruption event. 1. Pump the hell out of tether FUD on social media channels 2. Execute the hack 3. Load up on short positions 4. Wait for hack to be announced 5. Profit!
— windsok (@windsok) November 21, 2017
So, Bitcoin Cash has been all over the place recently, and Roger Ver's campaign to convert everyone into a BCash (Bitcoin Cash) user could get ugly.
Crypto's most passionate advocate for Bitcoin Cash (BCH), Roger Ver (AKA, Bitcoin Jesus) has been on a crusade to replace Bitcoin (BTC) with Bitcoin Cash (BCH). What does this involve? Well, first things first, Ver has been adamantly trying to convince crypto users to refer to Bitcoin Cash as "Bitcoin" for a long time, and he shows no signs of stopping. We have to give it to him: he's consistent. Ver's crypto wallet company, Bitcoin.com, now defers to Bitcoin Cash instead of Bitcoin, which will probably result in a user experience nightmare (i.e., the screen will display "Bitcoin", but will functionally be Bitcoin Cash). If you're confused, you're not alone. Anyone starting out in crypto is likely to deal with some problems differentiating the two currencies, their technical pros and cons, as well as trading between wallets and exchanges that have different screen names for BCash.
Don't get us wrong, we're not anti-Bitcoin Cash. There are some serious benefits to BCH and its functionality is arguably better than Bitcoin. But for adoption's sake, we're not quite sure we're with Ver on this one. BCH is also in the running to outpace BTC in market cap, which would prompt the question: what will it take for Bitcoin Cash to become more used than Bitcoin? Or is it just inevitable?
Good news everyone! Only 39% of respondents of a recent survey think Bitcoin is a bubble – that's lower than previous responses, so we'll take it.
Bounties: you keep hearing the word, but you don't really know what it means. Take five minutes to learn what they are.
If you saw a launch date for CME Bitoin futures, know this: it was wrong (sorry). There was an error, prompting Reuters to incorrectly report a specific date of release.
Hot 'n cold: Russia can't make up its damn mind about crypto, and it's driving people crazy.
Coin to Watch
Despite what your friends as the office are saying, no, it's not too late to get into Bitcoin (BTC) – the upside is arguably massive, so why don't you consider checking the chart out and deciding for yourself?
When you sell and it pumps right after pic.twitter.com/q6mC4HiSNX
— Crypto de' Medici (@cryptodemedici) November 20, 2017