End Of The Week Report, 29th June 2018

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Thank the crypto gods, the weekend is nigh upon us! Praised be Satoshi, Bitcoin and Holy Hashrate!

This means it is that special time of the week. Time to review the news and happening that spiked our heart-rates, price charts or generated a heated discussion. Without further ado, let’s begin.

Monday 25th
Controversial Tether Releases $250 Mln in USDT, Twitter Awaits Bitcoin Price Jump

I personally see very little point in the so-called “stablecoins”, but there are plenty of people out there who think a cryptocurrency backed by a FIAT currency is a fantastic idea. Even if said stablecoin is refusing to provide proof to their claim that every single tether coin is backed by a US dollar, supposedly stored in their reserves. Not even trying to pretend they are anything other than Crypto-FIAT, they have released(printed) another $250M worth of Tether. Yay. I guess.
Controversial Tether Releases $250 Mln in USDT, Twitter Awaits Bitcoin Price Jump

 

Tuesday 26th
“Roger Ver Will Now Cry”: Stress Testers Start Attack On Bitcoin Cash

An interesting turn of events is unfolding in the BCash camp this week. A mysterious person who calls himself Bitpico has been “attacking” the BCash network to allegedly stress-test its capabilities and claims of decentralization. Bitcoin underwent similar types of attacks when it still had a lot to prove to the world. Needless to say, Bitcoin network survived these “stress-tests” and came out better for it. Bitpico claims, that if BCash network is truly decentralized and secure, then it has nothing to worry about as the intensity of this attack is slowly ramping up.
“Roger Ver Will Now Cry”: Stress Testers Start Attack On Bitcoin Cash

 

Wednesday 27th
Sacramento Kings Will Mine Cryptocurrency To Support Good Causes

Basketball team “Sacramento Kings” is allegedly the first team to mine cryptocurrency. I personally disagree with that statement. Not entirely sure what does them being a basketball team have to do with anything, but anyone that has ever collaborated with another person to mine cryptocurrency has beaten Sacramento Kings to the punch in being “a team of miners”. Seems these days anyone wants a piece of the crypto drama pie. Think I might open a barber shop and make headlines by being the first ever barber to mine crypto. None of this puts crypto in good light, in my opinion.
Sacramento Kings will mine cryptocurrency to support good causes

 

Thursday 28th
‘Whale’ Moves 48,000 Bitcoin for 4 Cents in Fees As Scaling Solutions Develop

Continuing with ACTUAL crypto news, Bitcoin scaling problems may be a thing of the past as insane amounts of Bitcoin can be sent for under 5 cents in transaction fees. Gone are the days when Bitcoin network would charge up to $50 in transaction fees, rejoice!
‘Whale’ Moves 48,000 Bitcoin for 4 Cents in Fees As Scaling Solutions Develop

 

Friday 29th
Regulator Survey Prompts Concerns Over Public Knowledge of Crypto

While the crypto boom has quieted down, evidently due to a drastic drop in price, the need for education has never been greater. Now that the masses have put out their torches, they have very little clue what it really means to own and use cryptocurrency.
Regulator Survey Prompts Concerns Over Public Knowledge of Crypto

 

And with that our Embily end of the week news overview has run out of gas. I’m going to park it until next Monday when Loy will take over the gauntlet and catch you up on news that will have happened over the weekend. Until then, be sure to check out his personal musings and pearls of wisdom at his embilyblogloy.wordpress.com page.

Cover illustration artist SuicidalLemming-ox, DeviantArt

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Justs Matuzevics

Justs is a strange and very rare creature of Latvian origin. He is a jack of all trades, yet master of none. He hopes to change that around by mastering all things Crypto. In his own highly opinionated and rant fuelled way. Have no fear, Justs is here.