November 10th, 2017
In my humble opinion...
it's the beauty of decentralized democracy.
We have all noticed that crypto seems to evolve faster than ANYTHING we have seen before. This is because we have combined an open source ethos & capitalist incentive model. Time is not wasted redeveloping the same things; everyone gets to build on top of the latest & greatest.
— Tushar Jain (@tjain251) November 9, 2017
Coin of the Day
Get the money back to musicians.
Deutsche Bank is keeping it real, and keeps reminding the public that paper money is slowly dying. Millennials agree.
Even though Deutsche Bank has been having a rough year financially, they've been preaching a relatively progressive view on crypto. In July, they said that "the start to the end of fiat" is near (bold). Now, DB is worried about the high inflation risk that's becoming an acute problem, and the German bank is looking for an alternative that can act as a sort of substitute for state-back currency (*cough cough crypto*).
The millennials have spoken. They're beginning to prefer crypto to fiat, and the trend is increasing. 1 in 3 millennials would rather own Bitcoin than stock (especially after the Snap debacle), which is unsurprising given the general rising culture of distrust in the current money system and government. Yeah, we're loving this movement. There has been study after study proving that those in their 20s and 30s are quickly losing faith in stocks and bonds in general, which obviously bodes well for Bitcoin, blockchain, and altcoins.
There are three Bitcoin forks coming up in the next month (yes, three). Here's what you need to know.
In light of SegWit2X's cancellation, sources have begun popping up saying that the fork is not completely called off, but merely paused. Believe it or not, there are two more forks in question:
SegWit2X: AKA Segregated Witness 2. Though the developers released an official statement on Wednesday that said the 2x team would be, "suspending [their] plans for the upcoming 2MB upgrade," it's unclear as to whether or not this suspension is temporary or permanent. SegWit2x futures price surprisingly rose around 60% this morning, showing that there's still hope that the project will be reactivated in the future.
Bitcoin Gold: AKA BTG. Yesterday, it was announced that this hard fork would take place on Sunday, 7PM UTC. It's an "airdrop" currency, which means that anyone who owns Bitcoin at the time of the fork will automatically receive Bitcoin Gold. The project has gotten some pretty intense backlash regarding the openness of the project, developers involved, mining changes, and the fact that the leaders premined 8,000 blocks (yikes).
Bitcoin Silver: AKA BTSI. The Bitcoin fork you haven't heard about. Planned to drop in December, BTSI will airdrop in the same way as BTG. The premise behind Bitcoin Silver is to allow people to mine the digital currency using widely-available equipment, like the processor your computer already has, versus a custom-made mining machine. It's more decentralized, and somewhat the opposite of Bitcoin Gold in that it expands the role of mining in the crypto community – as opposed to reducing it.
Bad news for Parity users: Vitalik hinted that an ETH fork probably won't happen, which means the frozen crypto will sit there for a while longer. Hang tight.
Bitcoin Jesus has spoken: Bitcoin.com is now adopting Bitcoin Cash as the main currency on their wallet. (BTC is now BCH.)
Want to sound informed on the next big thing? Check out the argument for lightning networks in blockchain.
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