There have been a plethora of $BTC forks to solve the scalability issue, the vast majority of these alt coins have attempted to do it either by 1) increasing the block size or; 2) reduce average block creation time. Way too contentious a subject to get into, but the lightning network- the OGs solution that was slammed by so many (because if $BTC solves it, what use does the altcoins created because of this issue?)- is getting adopted slowly, but surely.
Meanwhile $BCH will be implementing their hard fork next Tuesday (15th) to quadruple current block size to 32MB and allow developers to create smart contracts on the network. The thing is though, it is completely unnecessary.
Absolutely no need.
If you are however an EOS HODLer, I suggest you register through EOS.IO and redeem your Evolution tokens because there is absolutely no guarantee the exchanges will honor the airdrop.
Fundstrat’s Tom Lee also reckons a pumpening is around the corner ahead of Consensus next week (please view yesterday’s wrap OSL-SJO-09MAY18-HOAX for details) and sees a good chance $BTC punchees through $15,000. This is the guy that first brought up the unprecedented tax bills Uncle Sam was making Americans to fork up this year that caused the 45% dip into the mid-April deadline. Glad we’re on the same page =)
Pump and dumps… an easy way to make a quick buck but if you miss your stop on the pop, good luck exiting. $IOTA’s debut on Huobi caused the counter to pop nine-fold, only to come right back down. The explosion in volume consequently had other exchanges briefly suspending withdrawals of the token… Will hold my tongue here.
Separately, more progressive comments on the asset class. Timur Khromaev, Ukranian National Securities and Stock Market Commission’s (SSMCS) chief acknowledged the maturation of the industry to the extent that it has become an “integral part of economic and financial relations. Erkki Liikanen, Finland’s governor of Finland’s Central Bank and ECB committee member reckons bitcoin have fully laid the cornerstones in establishing itself as a high-risk asset class albeit not fulfilling Satoshi’s vision as a method of payment.
And the efforts to further the adoption, expand the vested parties continue, Michael Novogratz’s Galaxy Digital Capital Management LP being the latest in launching their cryptocurrency Benchmark Index in collaboration with Bloomberg. Interestingly, they’ve given $ETH the same weighting as $BTC despite the former’s network value being around half of that of the latter. Wonder what their holdings weightings look like.
May trend be your friend… Happy trading