Every first Thursday of the month, we publish the 10 most important news of the cryptocurrency market, in our opinion. Here are the TOP10 crypto news of November 2018
“Bitcoin looks set to end the month below a key long-term support level for the first time in three years.
The 21-month exponential moving average (EMA), which served as a price floor for five months straight, was convincingly breached on Nov. 15. As of writing, the former support-turned-resistance is located at $5,896, while BTC is changing hands at $3,650 on Bitstamp.”
Speaking in Prague on Tuesday at Devcon4, ethereum’s annual developer conference, Fabian Vogelsteller proposed a “reversible ICO,” or RICO, that would allow token investors to take back their funds at any stage in that project’s lifespan. Specifically, the concept involves the creation of a special-purpose smart contract that allows investors to “reverse their funding commitment.”
3. SEC: SECURITY EXCHANGE COMISSION CHARGES ETHERDELTA FOUNDER WITH OPERATING AN UNREGISTERED EXCHANGE
Washington D.C., Nov. 8, 2018 —
The Securities and Exchange Commission today announced settled charges against Zachary Coburn, the founder of EtherDelta, a digital “token” trading platform. This is the SEC’s first enforcement action based on findings that such a platform operated as an unregistered national securities exchange.
According to the SEC’s order, EtherDelta is an online platform for secondary market trading of ERC20 tokens, a type of blockchain-based token commonly issued in Initial Coin Offerings (ICOs). The order found that Coburn caused EtherDelta to operate as an unregistered national securities exchange.
“The latest Bitcoin Cash (BCH) network update has resulted in a complex battle, and the blockchain has been split into two: BCH ABC is in one corner, and BCH SV is in the other.
Here is what they both stand for, and who is currently winning the hash war.”
When ETH is sent to an address, that address is able to perform arbitrary computations paid for by the originator of the transaction. This is a known vector for griefing. However, in some cases, at-risk systems such as exchanges did not put proper protections in place.
“Cryptocurrency mining operations in the Chinese provinces of Xinjiang and Guizhou were suspended so the government could conduct “very strict” tax inspections and real-name registration checks.
Power to the mining farms was shut off on November 5, sources told local daily Cong News. As a result, the mines lost about 1 million yuan (or roughly $143,700) a day during the period of “rectification.””
7. COINTELEGRAPH: BEAR MARKET AND DECLINING HASHRATES MEAN MINING ETH NO LONGER PROFITABLE, ANALYSIS FINDS7. INTRODUCING WBTC: THE POWER OF BITCOIN WITH THE FLEXIBILITY OF ERC20
Mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna. CNBC reported Nov. 13 on Susquehanna’s findings, which point to the protracted slump in crypto markets and declining network hashrates as reasons for the profit decrease.
Zcash Sapling network upgrade activated today at block height 419200. Sapling introduces new shielded addresses with significantly improved performance: a time reduction of 90% for constructing transactions, and a memory reduction of over 97%. Sapling activation, occurring on the momentous occasion of the currency’s second birthday, brings us one step closer to widespread adoption of an open, permissionless and private payment system.
The second-largest stock exchange in the world is partnering with investment management firm VanEck to bring a host of new cryptocurrency financial products to market.
That partnership was officially unveiled during CoinDesk’s Consensus: Invest conference, when Gabor Gurbacs – VanEck’s director of digital asset strategy – announced the move to “bring a regulated crypto 2.0 futures-type contract” to the market.
In a declaration titled “Building consensus for fair and sustainable development,” the G20 participants committed to a number of measures to help grow the global economy. As in past meetings of group members, the document highlighted cryptocurrencies as one area in need of greater regulation.
“We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed,” the document stated.