The battle for dominance in the digital asset space just went big. And now it looks like it’ll include political might, too. According to a story in Forbes Tuesday, “Many in the bitcoin and cryptocurrency industry have expressed concern about how much control [mining concentration] gives China over bitcoin, with the Beijing-based Bitmain Technologies mining more than half the world’s bitcoins.” American crypto companies have noticed, as well. In a recent interview in Breaker, Ripple’s Chief Market Strategist Cory Johnson stated that the Trump administration was doing its “homework” regarding China’s dominance over Bitcoin, and more specifically, the mining operations that provide the necessary security for Bitcoin’s blockchain. In recent years China has become…
Must-reads for September 23, 2018: Big Bitcoin bugs, big oil, big hacks, and other big wastes of time
Here are the crypto stories you should be watching this weekend
A Major Bug In Bitcoin Software Could Have Crashed the Currency (Motherboard) “On Tuesday, the developers of Bitcoin Core—the software that effectively powers the Bitcoin blockchain—released a new version that patched a vulnerability that allowed a malicious user to crash the network, making everyone’s digital coins effectively useless. The bug has been variously described as ‘very scary,’ ‘major,’ and one of the ‘top three or four’ most serious bugs ever discovered in Bitcoin,” writes Motherboard’s Jordan Pearson. But it’s okay. Everything’s fine now. No need to ever worry about anything ever again. Now where’s our Xanax? These Oil Traders Are Trying to Overhaul the Industry With a Blockchain Venture…
China declares blockchain evidence to be legally valid
The cryptocurrency opponent still wants to harness the blockchain
The Supreme People’s Court of China has formally determined that blockchain-based evidence is legally valid and admissible in court. While its national bank is straight-up proud of its efforts to curb cryptocurrency adoption by its citizens, the country’s judicial system just came out in favor of its underlying technology. A legal spat over copyright infringement between two Chinese companies brought this issue to a head. The plaintiff found the offending material online and took action, hashing the infringement and storing it in a distributed ledger managed by blockchain evidence platform Baoquan. Storing the material in this manner proves the time and date that something happened, giving the courts a chain…
Must-reads for September 5, 2018: Goldman backs off crypto trading, Iran welcomes mining while Washington not so much, and more!
Here are the crypto stories you should be watching today
Goldman Sachs is ditching near-term plans to open a bitcoin trading desk, instead focusing on a key business for driving Wall Street investment in crypto (Business Insider) If you’re wondering why cryptos took a hit Wednesday, this is it. Remember all the hype about Goldman Sachs trading Bitcoin from HODL Bros and your brother’s friend who just seems a little off? You know what I’m talking about. “Goldman’s going to be trading it, bro! It’s going to the moon!” Yeah, well, it doesn’t look like that’s going to happen any time soon. “The bank is ditching plans to open a desk for trading cryptocurrencies in the foreseeable future, according to…
