Bitcoin Cash is Dying, and BSV is Worthless, Says Founder of Bitcoin.org

In a yet another controversial tweet, the creator of Bitcointalk.org and Bitcoin.org, Cobra predicted that the Bitcoin Cash is in the process of dying.

In a yet another controversial tweet, the creator of Bitcointalk.org and Bitcoin.org, Cobra predicted that the Bitcoin Cash is in the process of dying. So that you know, Bitcoin Cash is an altcoin that has been created after the Bitcoin’s fork in the year 2017. In a tweet on January 19, Cobra declared the Bitcoin Cash a dead project with no real purpose or leadership. He further went on to predict that if Bitcoin Cash continues in this manner, it will have a value of 0$ in the next few years and will be ultimately forgotten from the crypto universe, just like some other altcoins.

Controversial Predictions

The prediction of the Cobra is not something new we have witnessed in the cryptocurrency world. The history is replete with the instances where many cryptocurrencies have disappeared from the crypto horizon due to the lack of leadership and purpose – the same reasons stated by Cobra in his prediction about Bitcoin Cash. Take, for example, the cryptocurrencies like Namecoin, Feathercoin, Bitshares, or Peercoin – all of which once dominated the cryptocurrency world having the place in the list of top 10 cryptocurrencies in terms of market capitalization – that have now vanished from the market. The reason behind their demise is the lack of focus from the top management as well as the absence of the real purpose for existence.

Bitcoin and Bitcoin Cash

Cobra mentioned in his tweet that one of the most significant failures in the case of Bitcoin Cash is the lack of effective leadership. Taking the example of Bitcoin, Cobra observed that the longevity of the cryptocurrency and its long stint in the market now makes it free from hinges of the particular person or developer. However, Bitcoin Cash is relatively new and requires a strong team of developers and leaders which can lead the community in the right direction and provide it with a particular purpose for the existence. The strategy, direction, and vision for the future are some of the crucial requirements for the bright future of the Bitcoin Cash. In the cryptocurrency universe, Cobra has always come across as a controversial character that is known for voicing his opinions very bluntly and straightforwardly. In the past, he proposed that Bitcoin blockchain should implement PoS as a consensus algorithm and had also expressed his support for the Bitcoin Cash. Whatever predictions we have seen from the Cobra – no matter how controversial they are – have always been based on a solid foundation of logic and reasoning.

Opinion about BSV

On January 7, Cobra tweeted expressing his displeasure about BSV which he declared a “worthless shitcoin.” The tweet was aimed to deliver a message for all the people who consider that “BSV is real BCH.” In December last year, Cobra warned about the imminent devaluation of Bitcoin Cash and emphasized the need to change the “incompetent leaders” heading the project. Till now, no one from the leadership team of BSV or Bitcoin Cash has responded to the tweets of Cobra.

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Litecoin Foundation UFC sponsorship was about building the brand, says Charlie Lee

Litecoin [LTC], the eight largest cryptocurrency by market cap, was in the limelight because of the Litecoin Foundation’s massive sponsorship. The coin …

Litecoin [LTC], the eight largest cryptocurrency by market cap, was in the limelight because of the Litecoin Foundation’s massive sponsorship. The coin marked its first major step towards adoption as the Foundation sponsored a UFC fight, which took place in December 2018, and Litecoin turned out to be one of the highlights of the match.

In the latest episode of Magical Crypto Friends, Charlie Lee, the creator of Litecoin spoke about the UFC sponsorship and the reason for the decision. The managing director also spoke about the hate the foundation received by Bitcoin maximalist for taking this step.

Charlie started by stating that the Foundation, in the past, has sponsored several individual athletes but they don’t often sponsor an event. He stated that the Foundation took this step because “it just seems like the reach is better.” He went on to say that this sponsorship, for him, was just about building the Litecoin brand because “everyone’s heard of Bitcoin, not many people have heard of Litecoin.” Lee also stated that the idea of sponsoring the event was by the community manager, who works for the parent company.

“So it kind of wanted like build that brand and make it more more well-known and it’s really kind of helped a lot. I mean we’ve reached a lot of people, [they’ve] have reached out to us, talked about like coin just because if they heard about the UFC sponsorship yeah. I think it’s pretty cool, plus that the fight was pretty amazing”

This was followed by Lee stating that they got “a lot of hate from Bitcoin maximalist, adding that the reason could be that the coin is a scam because the Foundation sponsored for an advertisement, or maybe because the coin has become a threat to Bitcoin. Succeeding this, Riccardo Spagni, the lead developer of Monero, aka fluffy pony also elucidated on the reason. He said:

“There’s his this idea that gets bounced around and has been has been said to me that anyone that doesn’t support bitcoin and bitcoin only is inherently evil because you’re distracting people away from Bitcoin. My context of that is there are people who have heard of Bitcoin and you know they for whatever reason they have not been to certain dipping their toe in the water or playing around with it”

He went on to say:

“maybe they hear about litecoin through the UFC sponsorship and they play with Litecoin because it’s maybe just a timing thing and through that experience of using Litecoin, they encounter Bitcoin and all their counterfeit coin when they’re more ready to do so and I think it’s very unusual for people to start with an old coin and completely disregard Bitcoin.”


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Priya

Priya is a full-time member of the reporting team at AMBCrypto. She is a finance major with one year of writing experience. She has not held any value in Bitcoin or other currencies.

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Cryptocurrency Payments Platform Coingate Raises 10% Monthly Volume Via Litecoin

Coingate raises 10% of its volumes by using Lightning Network platform through Litecoin. Lightning Network platform has been useful for boosting up …

Coingate raises 10% of its volumes by using Lightning Network platform through Litecoin. Lightning Network platform has been useful for boosting up the cryptocurrency payments. Lightning support to dual directions of payments that will provide backup to Litecoin’s new testnet with ‘Ind’, that can be developed with less difficulty once Ltd has been built. The developers are working on further development of the software infrastructure built to make the earliest shifting to work successfully into Lightning Network that occupies multiple blockchains.”

Coalgate’s target mostly focused on the European market that allows to buy and sell with fiat options and different payment methods. Merchants focus on the exchanges once the transactions are completed successfully. The standard fee of 1% charged by Coingate that accepts almost all the popular cryptocurrencies payments including few of the altcoins.

According to Paul Puey, the founder of “Edge Wallet” the only digital wallet that the traders can own them and travel anywhere with the private digital key, the core intention of edge wallet that is making the key secured because the edge servers are unable to see the secured key and only except the owners of the key, only popular for the bitcoin users. Bitpay is premier Bitcoin processor for the traders.

Mishura, the marketing head of Litecoin, told CCN on one of its reports: “VPNs are, to be honest, one of the most frequently used services by crypto-enthusiasts (what we see by our data). However, due to a quite low price, it is usually a no-win to pay for it with Bitcoin or Litecoin; and that’s exactly what Lightning should solve. That’s what we are trying to showcase – paying even for low-priced products should be possible, convenient, and cheap using cryptocurrency”.

According to the Block Crypto report states that the lightning network clients are several in number but the most popular are Ind from Lightning Labs, eclair from ACINQ and c-lightning from Rusty Russel. The best part of Lightning network is the Dual funded channels for cryptocurrency payments that enables to the enroute high amount of liquid transactions and include more traders to involve in cryptocurrency exchange.

Lightning Network is one of the best processes to reduce frictions and complications, a trader who wants to try litecoin’s light network should try to use it via Surfshark.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Summary
Cryptocurrency Payments Platform Coingate Raises 10% Monthly Volume Via Litecoin
Article Name
Cryptocurrency Payments Platform Coingate Raises 10% Monthly Volume Via Litecoin
Description
Coingate raises 10% of its volumes by using Lightning Network platform through Litecoin. The platform is useful for boosting up the cryptocurrency payments.
Author
Kakoli Roy
Publisher Name
OWLT Market
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Ethereum Improvement Protocol 1283: reason for the delay of Constantinople hard fork

Ethereum [ETH], the third largest cryptocurrency and the leading smart contract, is back in the news, yet again, because of the Constantinople hard …

Ethereum [ETH], the third largest cryptocurrency and the leading smart contract, is back in the news, yet again, because of the Constantinople hard fork. This time the team has decided to postpone the hard fork as issues related to the hard fork have been brought to light by ChainSecurity, an audit platform for smart contracts, and the team is currently looking into the potential of the vulnerability of these issues.

The decision to push the hard fork forward was jointly taken by Ethereum stakeholders, security researchers, Ethereum client developer, smart contract owners and developers, wallet providers, dApp developers, Node operators and other key members of the community. The Foundation has also asked miners, exchanges and node operators to update to the new version of Parity and Geth.

Ethereum announced on official Twitter handle:

“[SECURITY ALERT] #Constantinople upgrade is temporarily postponed out of caution following a consensus decision by #Ethereum developers, security professionals and other community members. More information and instructions are below.”

The reason for the delay is a Reentrancy attack after the Constantinople hard fork, discovered by ChainSecurity as a part of the Ethereum bug bounty program. This problem was found in one of the five proposed Ethereum Improvement Protocols [EIP]s. The protocol in the spotlight here is the EIP 1283: the net gas metering for SSTORE without dirty maps. This improvement protocol was written by Wei Tang and enables new usages for contract storage and reduces gas cost for SStore operations.

Ethereum Constantinople Security Issue || Source: ChainSecurity

According to them, a smart contract is vulnerable to the attack only after the Constantinople upgrade and before it. The report further stated that the vulnerable code stimulates a secure treasury sharing service, wherein “two parties can jointly receive funds, decide on how to split them, and receive a payout if they agree*.”

Why smart contracts are vulnerable to the attack | Source: Trading View

Interestingly, the improvement protocol cannot be removed from the upgrade as it would “introduces too much complexity that cannot be tested and confidently be released within 36 hours“, said Afri Schoedon, a core developer of Ethereum Foundation. As of now, the fate of Constantinople hard fork is going to be decided during the ETH dev core meeting, which will be held towards the end of this week.

Whale Panda:

“Ethereum’s centralization (devs, infura) comes in handy when you have to make new monetary decisions, rushed hard forks, rushed upgrades, rushed downgrades and rushed patches. It’s a feature, not a bug!”

Cyrus Younessi, Director of Research and Trading at Scalar Capital:

“Having witnessed both, I feel emergency hard fork *cancellations* are much more preferable than emergency hard forks, and the market seems to agree. Congrats to the Ethereum community for (once again) swift and sensible decision making.”

Notably, this is not the first time the upgrade has been postponed. The initial launch of Constantinople was set to be in late 2018, but was pushed to early 2019 because of issues discovered in the Parity implementation of Ethereum, during the Ropsten Testnet. The reason for the initial delay was the a consensus bug and also the limitation of Parity against Geth.


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Experts Predict Bitcoin To Soar in 2019

The co-founder of Union Square Ventures, Fred Wilson believes that the bears grip on the market and the losses that many people have had is nearly …

With 2018 being less than kind to Bitcoin and the crypto markets, investors and traders alike have got their fingers crossed for 2019 to be the year that sends Bitcoin to its once all-time high of $20,000. But the thing is, we know the highs Bitcoin has potential to reach but what about the lows? Investors are still wondering where the bottom exactly is for Bitcoin.

The co-founder of Union Square Ventures, Fred Wilson believes that the bears grip on the market and the losses that many people have had is nearly over saying, “I expect we will see some bullish runs, followed by selling pressures taking us back to retest the lows.” Wilson goes on to say that the bulls will run once more in 2019 and that the end of the bear market is just around the corner saying: “I think this bottoming out process will end sometime in 2019 and we will slowly enter a new bullish phase in crypto.”

Ever since the leading cryptocurrency was created, Bitcoin has kept its value on what investors think it could potentially deliver in the future. As reported by ZyCrypto, soon after the inception of BTC, the ICO fad arrived and investors were getting excited and were picturing all of the use cases that utility tokens would deliver. Nevertheless, Wilson explains that in the end, the use of cryptocurrency will be the thing that pushes the price next time around.

“I think the catalyst for the next bullish phase will come as the result of some of the many promises made in 2017 coming to fruition in 2019.” The co-founder has also said that as the technology develops the value will become more clear. “I think we will see a number of ‘next-gen’ smart contract platforms ship and challenge Ethereum for leadership in this super important area of the crypto sector.”

In a similar sense, experts such as Paul Veradittakit (partner at crypto investment fund Pantera Capital) and Anthony Pompliano (founding partner at Morgan Creek) have made predictions on the market saying that a lot of players in the sector will fade away. They contend that cryptocurrency firms without valid use cases will struggle and entities like hedge funds will disappear as the market makes it way to the bottom.

What are your thoughts? Let us know what you think down below in the comments!

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