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Homepage / News November 19, 2017 148 views

This Week in Bitcoin: Failed Forks, Atomic Swaps, and a Little Problems in Massive China

This Week in Bitcoin: Failed Forks, Atomic Swaps, and a Tiny Problems in Large China

This Week in Bitcoin: Failed Forks, Atomic Swaps, and a Little Trouble in Big China


In the very first of a new series, we recap the juiciest stories from the previous seven days. Although trolls have trolled trolls and forkers have forked forks, we’ve bypassed the bitcoin bickering to focus on the news that matters. So nestle up close to your solo mining rig for warmth and get comfy as we reheat the finest morsels from this week in Bitcoin.

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Low Power and High Drama

Monday got off to a glitch-cost-free start as Bitcoin Money forked smoother than a fresh jar of Skippy. In the wake of the previous week’s popcorn-fueled Segwit2x drama and BCH rally, there was a momentary lull. Whilst the mempool cleared, we filed a silly story about astrology that sent the comments section into a frenzy.

Fortunately, we didn’t have extended to wait until the BTC newswires went into overdrive as soon as a lot more. On Tuesday, word broke of an power-company-led crackdown on cryptocurrency mining in China, which coincided with Russia revealing its greatest areas for mining digital currencies. Could mining’s very personal “flippening” be on the cards, with the world’s hashpower migrating from east to west?

Fool’s Gold

On Wednesday we revealed tough-coded costs hidden inside the bitcoin gold mining code and Zimbabweans paying over the odds for bitcoin amidst a complete-blown military coup. This was followed, days later, with a piece on hyperbitcoinization – the notion that bitcoin adoption could trigger radical demonetization as fiat currencies lose their worth.

This Week in Bitcoin: Failed Forks, Atomic Swaps, and a Little Trouble in Big ChinaMeanwhile, bitcoin flirted with $8,000, buoyed by financial app Square adding BTC as a purchase selection. Bitcoin futures and investment funding was the talk of the town, with each CEO and their secretary weighing in. On, Satoshi Nakamoto Institute’s Daniel Krawisz filed an erudite piece on bitcoin leaders, we deduced the accurate energy expense of a bitcoin transaction and welcomed reporter Cindy Wang into the fold.

Cindy will be delivering invaluable insights on all the exchange, mining, and ICO news emanating from China in the months to come. Super Bitcoin was the subject of her maiden piece and forked coins had been to turn into a recurring motif as the week created.

Bitcoin Goes Boom

Whilst Russia was rebranding its mooted digital currency as the “cyber-ruble”, history was being made as trialed one particular of the world’s very first atomic swaps, exchanging BTC for LTC at the push of a button. But as the weekend neared, it wasn’t just atomic swaps that were blowing up – so have been Segwit2x developer Jeff Garzik’s Twitter mentions. Coinbase halted bitcoin withdrawals as the Segwit 2x fork loomed on the off-opportunity that any wantaway miners decided to press ahead.

This Week in Bitcoin: Failed Forks, Atomic Swaps, and a Little Trouble in Big China

In the finish, the occasion was a damp squib, but not before buggy code had been revealed in the aborted fork had Segwit 2x occurred, bitcoin could have gotten REKT, with the blame lumped squarely on the plate of 2x dev Garzik. Seems we all dodged a bullet there.

The Name’s Clashic – Bitcoin Clashic

To round off one more entertaining, educational, and innovative week in bitcoin, we finished This Week in Bitcoin: Failed Forks, Atomic Swaps, and a Little Trouble in Big Chinaas we began: with a silly story, this time about Bitcoin Clashic, the umpteenth fork to surface which, like many of its predecessors, is probably an elaborate hoax. Forked coins are the new airdrops are the new ICOs. We’re tiring of them in other words and would dearly enjoy to be able to speak about one thing else next week.

And that is all we’ve got time for. We didn’t even get a opportunity to reprise Mimblewimble, Coinbase Custody, attacks on the bitcoin network, or the nations where bitcoin is illegal. If, like Steven Tyler, you don’t want to miss a thing, follow on Twitter or Telegram for vital stories as they break. See you next week for more highlights from the greatest show on earth.

What was your favored story from this week? Let us know in the comments section under.

Photos courtesy of Shutterstock, and Twitter.

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Published at Sun, 19 Nov 2017 10:55:33 +0000