March 29, 2024

Censorship on YouTube, forecasts for 2020 and other events of the week in the bitcoin industry

Taking stock of the last week of 2019, we recall the unexpected blocking of content on cryptocurrencytopics on YouTube, new proposals from Ethereum and EOS developers, as well as some forecasts for 2020.

Bitcoin price

The first cryptocurrency showed sharpgrowth to marks above $ 7650 at the very beginning of the week, but by Thursday it adjusted to the area of ​​$ 7000. Nevertheless, Bitcoin completes the end of the week with growth, getting close to $ 7400. This allowed investors to take profits of over 1.50% for this segment.

Censorship on YouTube, forecasts for 2020 and other events of the week in the bitcoin industry

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Also on a positive wave completes the weekmost of the most liquid altcoins, among which are Bitcoin Cash (+ 11.32%) and Bitcoin SV (+ 10.93%). In the red at the end of the week were Tron (TRX), Stellar and Tezos.

Censorship on YouTube, forecasts for 2020 and other events of the week in the bitcoin industry

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YouTube censorship?

One of the main topics for discussion this week.the community has suddenly removed cryptocurrency videos from YouTube. At least 11 channels reported the removal of content, including Altcoin Daily, Chico Crypto, The Cryptoverse, Crypto Tips, BTC Sessions, and Chris Dunn. Their audience numbers from 31,500 to 210,000 subscribers.

YouTube also removed the creator’s videoEthereum Vitalik Buterin's “Questions and Answers on the Ethereum Roadmap” from the 2016 Coinbase Conference, marking it as containing “goods whose turnover is governed by special laws.”

A direct ban on the mention of cryptocurrencies in the rules of the platform does not appear. Only “fake currency” can be found in the clause on prohibited goods.

YouTube later explained the removalvideo about cryptocurrencies as a “mistake in moderating content” h By Friday, YouTube had completely regained access to cryptocurrency-related content, confirming that there are no innovations regarding cryptocurrencies in terms of using the service. The video hosting also promised to cancel all erroneous sanctions against the affected channels.

Still skeptical about the communitysaved. For example, CTO Block.one Dan Larimer said such locks indicate that powerful corporations are plunging the world into total censorship.

“It's time to buy paper versions againbooks, because in the digital world they are too easy to destroy. It must be taken for granted that you do not own anything and do not control anything on your phone. We are more and more on the way to ensure that the software will be available exclusively ”,&#8212; Larimer stated

He added that if today the largest video hosting service censors cryptocurrencies, then tomorrow Amazon will do the same with books.

Buterin proposed a way to accelerate the transition to Ethereum 2.0

Ethereum founder Vitalik Buterin proposeda solution that allows you to quickly get rid of the Proof-of-Work (PoW) algorithm chain and move everything in Ethereum 2.0 to Proof-of-Stake (PoS). According to him, the eth1 system can exist as a zero shard in eth2.

Validators who want to participate in eth1will be able to register as friendly. They are expected to support the full eth1 node in addition to the eth2 node. A full eth1 node will load all blocks of the zero shard and maintain the updated state of the old circuit.

Buterin believes that his proposal does not introduceno changes to the planned transition from eth1 to eth2. Only software for stateless clients and witness resizing in the eth1 protocol are required.

EOS introduced a proposal to change the model of resource allocation in the network

The company behind the development of the EOSIO blockchainBlock.one published an official proposal to change the current system for allocating CPU resources in the EOS network, according to which users will rent them for a 30-day period.

According to the new proposal, the user paysrent through a smart contract, receiving for 30 days a portion of CPU / NET of the total number of resources. After 30 days, the lease should be extended, and the price will be automatically changed using the market mechanism based on supply and demand for resources.

Representatives of Block.one says that users will still be able to stake EOS coins in the new system, but instead of resources, compensation will be in the form of commissions from auctions for the sale of EOS domain names, RAM and rental income CPU / NET.

To create a proposal based onlies the idea expressed earlier by Block.one technical director Dan Larimer, the developers were pushed by the November incident with a sharp slowdown in the EOS network and the cost of transaction processing.

Then, against the background of EIDOS airdrop, during whichusers used CPU resources to get free coins, there were problems with access to the REX CPU resources exchange. At the same time, the cost of resources soared by more than 100,000%.

Digital RMB is ready for testing

As stated by the head of the payment andsettlement decisions of the People's Bank of China Mu Changchun, the development of the national digital currency of China is at the final stage. According to him, already a system of electronic payments based on digital currency has already passed functional research and joint tests.

The next step in the project will be the launch of pilot programs, after which the digital yuan will be credited to the accounts of commercial banks of the PRC for distribution among citizens of the country.

Mu Changchun emphasized that the national digital currency will be used as a means of payment, and not for speculation.

Forecasts for 2020

The end of the year is a traditional time for various forecasts for the future, and the cryptocurrency industry is no exception.

So this week we heard

  • what will be the price of bitcoin in 2020 according to Galaxy Digital CEO Mike Novogratz
  • what future awaits most cryptocurrencies according to Ripple chapter Brad Garlinghouse
  • halving &#8212; why Bitcoin growth may not happen next year (CoinMetrics and CoinShares) and what awaits miners (TheBlock)
  • and finally, four predictions for 2020 from BitMEX researchers