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Topics - cryptoupdate

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Yesterday, the Bitcoin Cash network activated its second scheduled semi-annual hard fork since the cryptocurrency split away from the original Bitcoin blockchain. Unlike the previous protocol upgrade, however, this fork was contentious, with #DevelopmentTeam s launching two competing, incompatible BCH implementations.
Background: Another Fork in the Bitcoin Cash Road

The group adhering to the “official” Bitcoin Cash roadmap was Bitcoin ABC, which had support from most node operators, as well as prominent individuals and companies such as Roger Ver (Bitcoin.com) and Jihan Wu (Bitmain).

Several months before the fork, blockchain startup nChain, which is associated with self-described Bitcoin creator Craig S. Wright, announced that it would launch a competing client, Bitcoin SV, which introduced an alternative set of consensus changes. Billionaire Calvin Ayre, the owner of CoinGeek — the largest bitcoin cash mining pool — was SV’s other major backer.

Fellow BCH development group Bitcoin Unlimited released a BCH client that followed the ABC consensus changes by default but allowed miners to manually configure support for individual features in the ABC and SV clients in an unsuccessful bid to broker a compromise and avoid a chain split.

Strictly speaking, there could have been three competing versions if any miners decided to continue mining according to the pre-fork consensus rules, but all of the hashrate migrated to one or the other of the two new rulesets, killing off the original chain.
Nov. 15: The Hash War Begins
Note: Once the dust finally settles, Bitcoin ABC is expected to retain the “Bitcoin Cash (BCH)” label. In the interim, the community has not yet reached consensus on how to refer to the competing blockchains. In the remainder of this article, to avoid confusion, we will refer to Bitcoin ABC’s chain as BCHABC (other common names include BAB and ABC) and Bitcoin SV’s chain as BSV (also known as BCHSV and SV).
Leading up to the Nov. 15 fork, the Bitcoin Cash civil war was largely framed as a contest between users (BCHABC) and miners (BSV), with the latter boasting as much as three-quarters of the hash rate in the days preceding the split and threatening to use this superior hash power to not only acquire the most accumulated Proof-of-Work (PoW) but also to attack the BCHABC chain until users capitulated and moved to BSV.
BCHABC Builds the Longer Chain

https://samcrypto.com/bitcoin-cash-where-the-4th-largest-cryptocurrency-stands-the-day-after-the-fork/

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Bitcoin Forum / Bitcoin Update: Bull and Bear Scenarios
« on: November 17, 2018, 12:00:47 AM »
To say that the last two days in crypto have been a bloodbath would be an understatement. Many altcoins have broken critical support areas. Some cryptos even registered new yearly lows. One of those is Bitcoin (BTC/USD).

Bitcoin dropped to as low as $5,188 on Coinbase and lost as much as 20% of its value within 48 hours. The move forced numerous retail traders and long term hodlers to give up their digital assets. It also reinvigorated bears who felt ecstatic that $6,000 support crumbled into pieces. Their renewed confidence gave them the voice to spread fear, uncertainty and doubt (FUD). The chatter of Bitcoin trading at $2,000 – $3,000 has been the noisiest in the last 48 hours.

If you’re an ordinary investor who believes in the revolutionary power of Bitcoin, the amount of FUD out there might shake your beliefs. However, is there a grain of truth in what bears are yapping? In this article, we reveal the possible bull and bear scenarios to prepare you for whatever comes next.
The Bullish Scenario

https://samcrypto.com/bitcoin-update-bull-and-bear-scenarios/

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Tron (TRX) saw a rapid recovery bounce of 10% following the market wide rupture of the previous few days, a figure exceeded only by XRP (XRP) and Stellar (XLM) among the major altcoins.

The recent crash wiped 15% off the value of Bitcoin, and $38 billion left the global market cap in the blink of an eye. While it seems like time stood still for the last few days, the noises coming out of Tron HQ are much the same as they were before the crash.
Tron Data Indicators

Tron founder and CEO, Justin Sun, released a community update on Friday which detailed some recent indicators of Tron’s expansion. Sun tweeted:

“In the past 46 days, #TRON has welcomed another period of rapid development. During this time, our core data indicators as well as the entire #TRON ecosystem experienced significant growth. Here is an update for all.”
The update covers some of Sun’s own personal social media data, such as the number of his Facebook followers now exceeding two million. His Twitter followers exceed half a million – a number remarkable only for the fact that the account was created just last year.

Moving into the blockchain data, Tron made news recently for exceeding 1.3 million daily transactions – a number 119% that of the EOS blockchain. Accounts created on the Tron blockchain also crossed 600,000, which is 20% more than EOS despite the TRX chain being ‘younger’.

https://samcrypto.com/tron-trx-recovers-10-data-indicators-point-to-rapid-expansion/

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U.S. stocks extended their slide on Monday, as technology companies entered their deepest correction since 2011. Crypto markets were mostly stable, though the likes of NEM and XRP outperformed.
Stock Selloff Resumes

All of Wall Street’s major opened the week in negative territory, with losses extending to most sectors. The large-cap S&P 500 Index fell 2% to 2,726.22, with ten of 11 primary sectors contributing to the declines. Technology shares were the hardest hit, falling 3.5% as a sector. A total of four sectors declined 2% or more.

https://cryptoupdate.ca/market-update-u-s-stocks-plunge-as-tech-correction-deepens-nem-leads-tepid-crypto-market-rally/

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Litecoin Forum / Litecoin: Price Analysis, Nov. 12
« on: November 13, 2018, 01:39:16 AM »
LTC/USD

Litecoin continues to slide after turning down from the downtrend line of the descending triangle. It might retest the critical support zone at $47.246–$49.466 once again. This zone has held on four previous occasions; hence, we anticipate this support to hold once again. Nevertheless, traders left with partial long positions on our recommendations can close them at $50.

https://cryptoupdate.ca/litecoin-price-analysis-nov-12

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