March 28, 2024

Bitcoin Cash and Bitcoin SV halvings, Bisq hacking and other events of the week in the bitcoin industry

Summing up the week, we recall the past Bitcoin Cash and Bitcoin SV halvings, the launch of the first Bitcoin fund on a largestock exchange, the theft of $250,000 from the Bisq p2p exchange and other important events of the week.

Bitcoin price

During this week, the first cryptocurrency demonstrated the usual ups and downs, completing this one nonetheless on a positive wave with an increase of about 2%.

At the beginning of the week, investors were optimistichow the charts rose to levels just below $ 7,500, which surely inspired many in the hope of starting a new bulran. Bitcoin was able to hold out at these levels, however, only a few days: already on Thursday, April 10, the price went down sharply, falling in the moment close to $ 6750.

However, already in the afternoon of Sunday, the first cryptocurrency again went up, having once again managed to break through the psychological barrier of $ 7000.

Bitcoin Cash and Bitcoin SV halvings, Bisq hacking and other events of the week in the bitcoin industry

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The total market capitalization at the moment is $ 200 billion, of which 64% falls to the share of bitcoin.

Among the other largest cryptocurrencies, we note the good growth rates of Tezos and Ethereum.

Bitcoin Cash and Bitcoin SV halvings, Bisq hacking and other events of the week in the bitcoin industry

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The first Bitcoin Cash and Bitcoin SV halvings

This week, the first haulings - the programmed double reduction of rewards to miners - took place on the Bitcoin Cash and Bitcoin SV networks.

The Bitcoin Cash halving, as a result of which the reward for miners for the mined block decreased from 12.5 BCH to 6.25 BCH, took place on April 8, this event took place in the Bitcoin SV network two days later, on April 10.

In both cases, immediately after halvings it was possiblewatch as miners began to switch power to Bitcoin mining. This was especially noticeable in the example of Bitcoin Cash &#8212; in just two days, the network hashrate dropped by 73%, and the cost of a potential 51% attack on the fifth largest cryptocurrency by capitalization immediately dropped to $4,250 per hour.

Bitcoin Cash and Bitcoin SV halvings, Bisq hacking and other events of the week in the bitcoin industry

Data: bitinfocharts

Nevertheless, mining profitability charts show an extremely unstable picture: as you can see, at certain times the production of BCH and BSV in the past few days has been more profitable.

Bitcoin Cash and Bitcoin SV halvings, Bisq hacking and other events of the week in the bitcoin industry

Data: bitinfocharts

Also, BCH and BSV coins showed dynamics similar to BTC throughout the week with a certain advantage of BSC and on the evening of Sunday trading around $ 239 and $ 194, respectively.

Bitcoin Cash and Bitcoin SV halvings, Bisq hacking and other events of the week in the bitcoin industry

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Toronto Stock Exchange Launches First Bitcoin Fund In History

For the first time in the history of the cryptocurrency industry,A major stock exchange launched the first public fund based on Bitcoin. So named &#8212; The Bitcoin Fund, it began trading on the Toronto Stock Exchange. The fund is managed by asset manager 3iQ, and the Winklevoss brothers' company Gemini is the custodial partner.

The Bitcoin Fund is a type of exchange-traded product (ETP), tracking the price of bitcoin using an index from MV Index Solutions (a division of VanEck Europe) and CryptoCompare.

The fund issued two types of shares: Class A for all investors and Class F for institutional. At TSX, only Class A shares were listed for a total value of $ 14 million.

Canaan Creative reported $ 148 million in losses for 2019

Chinese miner manufacturer Canaan Creative reported a net loss of $ 148.6 million in 2019. In 2018, the company received $ 122.4 million in profit.

Canaan realized totalcomputing power of 10.5 million TH / s (47.1% more than in 2018). Revenues amounted to $ 204.3 million - a two-year increase year on year. Most of the loss, $ 114.7 million, Canaan recorded in the last quarter of the year.

The company also noted that the outbreak of coronavirus had a negative impact on the business of the enterprise, because of which expectations regarding the results of 2020 were lowered.

Critical vulnerability allowed to steal $ 250,000 from Bisq users

On April 7, Bisq P2P Exchange announced the suspensiontrading operations due to identified critical vulnerability. Bisq officials later said hackers successfully exploited a security vulnerability and stole about $ 250,000 in BTC and XMR. In total, seven traders who were actively engaged in trade suffered. Bisq promised to recover their losses from its own funds.

The very next day, the exchange introducedAn update that addresses the vulnerability by recommending that all users upgrade to the latest version. Representatives of Bisq also emphasized that this incident is not like the usual hacking of exchanges, since the exchange does not hold user funds. Instead, the attackers, taking advantage of the vulnerability, attacked individual accounts of traders.

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Bitfinex Exchange Added Staking Opportunity

Bitfinex Cryptocurrency Exchange Announces Launchpassive earnings programs on staking. At this stage, EOS, Atom from Cosmos and VSYS, a token of the V Systems platform are available for staking, and in May Tezos will join this list.

There are no rewards for earning usersthe need to perform any additional actions: the coins located on their user wallets will be used in staking. The Bitfinex exchange will ensure their storage using its own custodial solution.

Poloniex has acquired a platform for launching tokens

Poloniex Exchange Introduces Launch Sitetokens called LaunchBase. The first LaunchBase project will be the JST token of the decentralized lending platform JUST based on the Tron blockchain. Its users can generate a USDJ-linked stablecoin with Tron (TRX) coins. JST is designed to pay interest, pay for platform services and other operations on the blockchain.

Besides the ability to buy and sell tokens,LaunchBase will offer community members “professional advice and guidance.” The site will serve users on the principle of a live queue, the only means of settlement will be TRX.

Regulation

New regulations for cryptocurrencies in Japandue to “unexpected delays”, they will take effect on May 1, and not from April, as previously planned. We are talking about amendments to the Law on Financial Settlements and the Law on Financial Instruments and Exchanges. The changes in them concern both changes in the basic terminology, for example, “cryptoactive” instead of “virtual currency”, and the direct regulation of the cryptocurrency industry.

In particular, the amendments suggest that exchanges share their own and user funds through a third-party company that will use “reliable methods” like cold wallets.

In the event that users insist on hot wallets, platforms are required to have an appropriate amount of assets, so that in case of hacking and theft of funds, they will compensate for losses immediately.

Meanwhile, in Europe, regulation of the cryptocurrency industry may be expanded. At the very least, the need for this in a new report said the expert group of the European Commission.

The document says that the current regulationIt does not cover some participants in the cryptocurrency industry, including exchanges that do not support fiat currencies. Such enterprises, the authors of the report say, must also comply with AML (anti-money laundering) requirements. Additionally, the report draws attention to persons involved in cryptocurrency mining.

The publication of the report coincided in timewith a statement by the French Financial Markets Authority (AMF), in which it clarified to the European Commission its position regarding crypto assets. In particular, the French regulator sees the need for a clear distinction between digital assets that qualify as financial instruments and electronic money. AMF is also concerned about the spread of stablecoins, noting that authorities may ban them if necessary.

Digital middle ages

On Saturday, April 11th, ForkLog Live hostedlarge-scale online conference "Digital Middle Ages" dedicated to the main challenges for the cryptocurrency and blockchain industry in the context of the financial crisis and the coronavirus pandemic.

For 8 hours, 22 speakers discussed suchglobal topics such as running a business under quarantine and self-isolation, personal data security and information protection against the backdrop of global total control and intensification of cybercrime, the problems that the mining sector is facing, as well as the digital revolution and the role of distributed systems in it.

Digital Medieval Online Conference / April 11, 10:00 Moscow time (Updated)