Cryptocurrency Highlights Of The Week

SegWit2x is nearing completion, and Poland is cracking down on OneCoin. Here are the cryptocurrency highlights of week 34:

  • The code for the controversial bitcoin scaling proposal Segwit2x is nearing completion. At least, that’s what BitGo CEO and project leader Mike Belshe has claimed in new a mailing list update. Segwit2x, which aims to initiate a hard fork as part of a bid to increase capacity, has released several code iterations since it launched in May, but software version 1.14.5, the group says, may be close to what is ultimately released and is now being called the “production release.” “The software is working as intended and there have been no bugs or faults,” Belshe wrote. Further evidence of the software’s stability, he claimed, is that it survived through both BIP 91 and SegWit activations, two of bitcoin’s biggest and most-watched upgrades in recent months.

  • BitGo is starting to roll out SegWit to all BitGo wallets. BitGo announced the plan to immediately launch with a few select customers to observe production operation, shortly after SegWit was finally activated this week. If this works out well “for a few days” BitGo will begin rollout of SegWit to all BitGo wallets. BitGo also adds that this has two immediate advantages: BitGo’s multi-signature transactions costing about half the fee that they used to cost prior to SegWit, and reducing the transactional weight of transactions on the blockchain.

  • Police in Finland have launched an investigation into OneCoin, a digital currency scheme widely considered to be fraudulent. Local reports indicate that Finnish authorities are currently looking into the firm, with Antti Perälä, an official leading the investigation, stating that criminal reports against the operation are being filed by both private individuals and tax authorities. The scheme has been on Finland’s radar since 2015. One report indicated that as many as 20,000 citizens had invested “tens of millions of euros” in the scheme, per conservative estimates. The case is ultimately expected to reach the prosecutorial level, suggesting that Finland’s government may pursue court action against promoters in the country, as well as others involved with the scheme.

  • It’s about time for the annual Satoshi Nakamoto reveal. This time, several news outlets received an email from someone claiming to be Satoshi Nakamoto, the mysterious inventor of bitcoin. The email received was brief and to the point: “I met with the SEC yesterday. I am ready to talk.” The individual declined to give his legal name, but said recent leaks had forced him to speak to the press, even as he intended to remain anonymous. At the same time, he claimed that various agencies in the government, including the SEC, IRS, and FBI were aware of his true identity. But in the emails and conversations that followed, it became clear that the would-be Satoshi’s primary purpose was to promote a new blockchain. It therefore seems like a very poor attempt at claiming the Satoshi Nakamoto title.

  • Compared to the previous week the price of Bitcoin has increased by around six percent, with the exchange rate currently at about $4,334 per BTC. The price of Ethereum increased by almost 15 percent over the same period, taking Ether up to a rate of $333 per ETH. Ethereum Classic gained about ten percent, with the price increasing to $15.31 per ETC. Zcash gained 40 percent. One ZEC is now trading at roughly $276 per coin.
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Comments (2)

  1. fireboy and watergirl June 8, 2020
  2. Rose Stanley June 5, 2022