The Coin Collector’s Guide: kids these days as BCH gets ready to rumble, fork imminent?

fork
08/07/2020

It’s time for your Friday coin rundown.

Here are your top ten coins.

Bitcoin

market cap $213,175,486,290

They caught the kid who hacked into twitter a few weeks back and were in the process of throwing the book at him, virtually apparently via Zoom, when the virtual proceedings were themselves hacked by other wannabe hackers from their mother’s basements, scrawling profane, racist and pornographic outbursts.

Kids these days.

The 17-year old kid has been accused of breaking into Twitter accounts of famous CEO’s and politicians like Barack Obama and Elon Musk and being doubly obnoxious because of a presumed Bitcoin-stealing scheme. Clark’s lawyer is trying to get him off on $725,000 bond and get him internet access back, but you have to wonder if maybe he’s going to have a rough time of it after all of hte kids internet buddies showed up to drop the zoombomb.

With friends like these, huh?

Source: coingecko.com

Ethereum

market cap $42,189,907,331

Coke One North America Services (CONA), which is owned by Coca Cola (KO.NYSE), has agreed to use the Baseline Protocol, a public Ethereum blockchain technology marketed to enterprise uses, on a trial basis.

Now Cona already uses Hyperledger Fabric solution together with SAP to share data, but a bottler may not always possess enough stock for delivery and another franchise might sometimes need to make up the shortfall. The process can get hairy, and that’s why the data sharing between CONA bottles and franchisees using Fabric is necessary. It clears up the inconsistencies. But now there’s a desire to use a public blockchain – so enter baseline.

“What you’re doing is injecting the hash, the state marker into an ERC 20 (token) and moving that around, which would look like nonsense to anybody other than the parties that were doing it,” said ConsenSys’ John Wolpert at the launch of Baseline in March. “So you could do invoice factoring on the main net out in the open, without your competitor knowing anything about your invoices.”

Source: coingecko.com

XRP/Ripple
market cap $13,082,141,664

Ripple, the company behind XRP, reported that they’ve sold $32.55 million XRP during Q2, 2020, and that’s a 1,760% increase over their Q1 sales figures.

Why?

XRP helps curb costs related to sending cash overseas, and can be used as an alternative to pre-funding.

It’s also benefited from increased exposure. For example, Signum Bank, the first fully regulated crypto bank, added XRP to its financial platfrom. As did Zero Hash, which added XRP to its settlement platform, giving digital asset businesses access to U.S. markets. Zero Hash is a division of Seed CX, a registered CFTC swap execution facility and holder of a New York Department of Financial Services BitLicense.

And apparently people either don’t know about, or don’t care about, Ripple’s various legal and technological issues.

No accounting for taste, I suppose.

Source: coingecko.com

Tether
market cap $11,525,106,863

The whales have resurfaced and this time in USDT, as 300 million USDT moved between July 30 and 31 in over 25 separate transactions, as seen as Whale Alert.

A report by Coin Metrics released a year ago, showed that 80% of the present supply of Tether was owned by 318 addresses. CoinMetrics displayed that these addresses owned at least $1 million in USDT, showing that just a few players determine its market liquidity and price movements.

Honestly, though, that’s decently common throughout most of the major cryptocurrencies and shouldn’t come as much of a surprise to anyone.

Source: coingecko.com

Bitcoin Cash
market cap $5,535,719,582

There’s some discontented rumblings coming from the BCH camp over the difficulty algorithm. The difficulty algo is how difficult it is to mine BCH. One group wants it adjusted and the other doesn’t, and there’s now a possibility that this may lead to one group wanting to fork the coin, taking their ball and going home.

Then Bitcoin will have another bastard.

Every six months the BCH community plans for another upgrade and every time there’s rumblings of another potential fork. The next upgrade’s in November, and a number of users are concerned about another fork.  Like clockwork. Naturally, this leads to a lot of infighting as nerds adjust pocket protectors and sharpen their pencils for a … math-off or something. Either way, one party tends to go away with hurt feelings after the fork and there’s another derivative of Bitcoin on the market.

“I hope everyone can come back together to work on the future roadmap. There are no good outcomes from forking/splitting for anyone who believes in the long-term value and usefulness of Bitcoin Cash,” tweeted Dennis Jarvis, Bitcoin.com’s CEO.

fork
Source: coingecko.com

Cardano

market cap $4,299,367,872

There’s always a moment of tension after a fork, either hard or soft, wherein programmers sit with butts a-pucker hoping that their respective communities will accept the upgrade. In this case, it’s Cardano, and the good news is that they did.

It took about five days for Cardano enthusiasts to construct around 700 staking pools after the launch of the Shelley fork, according to IOHK.

The metrics display the demand behind the rollout, and with other various implementations to be released in the coming months, this one will be one to watch.

fork
Source: coingecko.com

Bitcoin SV

market cap $4,172,647,750

The Bitcoin Association, a global industry organization working to make doing business on Bitcoin SV more palatable is having their first Chinese-lagnuage edition of their Bitcoin SV DevCon series between August 29-30, together with CSDN and nChain.

It’s a two day event hosted entirely in Chinese wherein folks from China’s technology and blockchain communities can teach lessons to educate developers interested in working with the Bitcoin fork. It’ll include everything from smart contracts, implementation of smart computing and miner fee economy.

fork
Source: coingecko.com

Chainlink

market cap $3,745,990,869

Chainlink is up 34.4% over the past seven days, and their year to date is up 304.3%, making them the best performing cryptocurrency presently on the market. They regularly bounce in and out of the top ten by market cap, as they’re regularly assailed by Binance Coin and Crypto.com coin for their position – both exchange oriented coins, which can release and burn their own supplies based on demand.

But the team at Zeus Capital still insists that they’re vaporware. Head over to their Twitter-page (at @ZeusCapitalLLP) and you can download their report. It disappeared from the web in July, but it’s back if you’re so inclined.

Still, if you’re looking for a speculative gamble, you can’t beat those numbers.

Too rich for my blood, personally.

Source: coingecko.com

Litecoin

market cap $3,728,674,617

There isn’t much going on in litecoin-land as they gear up for the advent of mimblewimble, their proposed protocol upgrade that’s expected to add more fungibility and privacy to the coin.

Except for a curious exchange between Charles Hoskinson, the CEO and creator of Cardano, and Charlie Lee, Litecoin’s creator and CEO. The exchange was about an intention to establish a cooperative venture—some variety of cross chain communication between LTC and Cardano.

@SatoshiLite it would be great to do something together. I love the idea of testing cross chain communication between Litecoin and Cardano. We got a lot of ideas and I’m sure you guys do too

Now that could be a curious interaction and definitely one to watch in the future.

Source: coingecko.com

Binance Coin

market cap $3,256,612,041

Changpeng Zhao, the CEO of Binance, indicated in July that the next Binance Launchpad team was reviewing some cryptocurrency projects to determine hwich one would be the next Initial Exchange Offering platform. Binance Coin investors have been somewhat impatient to hear from the team since then.

An IEO (or Initial Exchange Offering) is basically an ICO, except run by exchanges. Naturally, the SEC is getting on their case about this, but given that plenty of exchanges operate outside of United States jurisdiction, they’re shit out of luck.

Source: coingecko.com

—Joseph Morton

Related Posts

Latest Post

Leave a Reply

Your email address will not be published. Required fields are marked *