Welcome to the daily news of 9th November 2018. Here are the most important headlines for today:
Bitmain Layout 90,000 Mining Machines & More details about the future Bitcoin Cash Fork
The battle of billionaires is starting. Apparently, Roger Ver and Craig Wright couldn’t decide on the future of Bitcoin Cash. Therefore, on November 15th – the BCH will split into two rival chains: Bitcoin Cash ABC – Roger Ver’s side and Bitcoin Cash SV – Created by Craig Wright.
This comes as a results of Ver and Wright disagreeing over the BCH’s future.The feud caught the fans attention, and the drama started coming yesterday – when Ray [REDACTED] created a thread with everything you need to know about the future BCH fork. This ‘war’ between billionaires is mostly childish – with each other throwing insults at each other. But Bitmain’s preparing for that war by deploying 90,000 S9 mining machines in Xinjiang. Wu Jihan is one of the latest self-made billionaire thanks to Bitcoin mining.
This could have been one of the facts that brought a decrease in the Bitcoin price, as BCH lost around $2 Billions since their top value in November – funds that probably were exchanged directly to USD by BCH investors.
These news weren’t appreciated by the traders – as after a 45.91% increase from November 2nd to November 7th, the BCH/USD pair dropped more than 4.8% percent. For more details, you may check the /r/bitcoincash subreddit as well as Cointelegraph’s article.
Binance to Create a Research Wing for ‘Institutional-Grade’ Research Reports
While others fight for power, Binance is pursuing forward into being the #1 entity in the blockchain & cryptocurrency space by launching a new division. Binance Research is a service that will create institutional-grade research reports with the main purpose of increasing the transparency & improve the quality of information in the cryptocurrency space. The Binance Research was launched one day ago and may be the pillar that cryptocurrency need for institutional investors to come along.
The division already published two reports about LOOM Network (LOOM) and Gochain (GO). This is one of the best initiatives we’ve seen in the crypto space in a long time. The research done by their team is a comprehensive one with details about a cryptocurrency along with its purpose, team, trading data and many others. The future report will be one about Pundi X.
We believe this service is among the best ones in the crypto space. With a service like this, people could avoid investing into cryptocurrencies with potential but with a poor team – such as Oyster (PRL). To keep in touch with their latest reports, you may check the Binance Research Twitter.
BitTube Could Be The Bridge Between Crypto & FIAT – A user-friendly service
According to a post created by Kamillenteo on /r/cryptocurrency, BitTube will have a service that could allow people to purchase cryptocurrency with Paypal. The main issue here from what we’ve understand is that you cannot buy BTC/ETH directly, but only TUBE – that you can use using Bit Tube’s Airtime extension ( More details about that on Youtube).
BitTube doesn’t operate this on their own. So the chances of that service to be shut down are few to none. Their main partner is WireCards, which also have a partnership with Paypal, allowing users to buy TUBE tokens using PayPal for a 1-1.5% fee. Of course, the service doesn’t have an ulimited amount of crypto that you can purchase. The maximum that you can do it for now is 100 Euro.
However, that’s not what BitTube was created for. BitTube wants to reward content creators in a new way – but a bit similar to Brave Browser’s idea. According to them, you can reward your favorite content creators from any website in the same way that Twitch works – or even with a direct donation. More details on BitTube’s Medium
93% of UK Residents Heard About Bitcoin, only 4% Bought it
According to a study created by YouGov, 9 out of 10 Brits have heard about Bitcoin. From those, 4% declared that they understand Bitcoin ‘very well’, 23% stated they know it ‘fairly well’ – while the most % was on ‘Not very well’ or ‘Not at all well’.
And the statistics also show that most of the people ‘ know someone that bought bitcoin’ while they personally chose not to invest in something like this. And most of the people that bought Bitcoin are the young aged ones, between 18 to 34 years old.
We recommend you to read the full document here. Unfortunately, we don’t know how many people participated in this questionnaire to see how accurate are the details.
What can we learn from this?
- The percentage of people that declared they know bitcoin ‘very well’ is equal to the percentage of people that bought it. Therefore, most of the Brits have problems understanding Bitcoin and his use case.
- According to the questionnaire, most of the Brits don’t believe in a cryptocurrency controlled by the people using it. This can be for a variety of reasons such as :
- They didn’t understand completely what it does
- They didn’t understand how it work
- They’re not used with it and don’t see its use-case
- They’re not used with such a volatility in a currency
- 21% of Brits believe that Bitcoin and cryptocurrencies will be as used as credit cards in the future – This is actually a good thing, even if the percentage is so low. Services that are providing credit cards for crypto already appeared – and this is how adoption might start.
- People first need to learn what Bitcoin & cryptocurrencies are – We still think that a huge majority of people think cryptocurrnecies are scams and used only by drug dealers and thieves, an image commonly reported by the wide media. People need more knowledge regarding cryptocurrencies and how they work.
Other Important News
- Cryptocurrency wallet Exodus adds NEO support in newest update
- Crypto exchange PureBit steals $2.7 million USD in exit scam
- Cardano Based Crypto Exchange IronX Releases its Public Sale
- China’s Crypto Ban | Facts You Need to Know
- Ripple Effect: XRP to Serve as Collateral for $300 Million Cred USD Loan Facility
If you’ve missed yesterday’s news – you can read about them here: Daily Cryptocurrency News – 8th November 2018
Image source: Newsbtc
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