Banned From Trading Forever

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4.7 • 698 Ratings

🗓️ 12 November 2018

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ironic? A fractious divide in the Bitcoin Cash community has raised fears that the cryptocurrency – the fourth largest by market cap – could split into two. The Monetary Authority of Singapore (MAS) and the country's stock exchange, Singapore Exchange (SGX), have developed a settlement system for tokenized assets that can work across different blockchains. Global professional services giant Accenture has rolled out a new software license management application built with tech from distributed ledger startup Digital Asset. The U.S. Commodity Futures Trading Commission (CFTC) has jailed a bitcoin trader and fined him over $1 million for running a fraudulent bitcoin and litecoin scheme. Late Confirmation is a CoinDesk production. For more information, visit www.CoinDesk.com See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	Bitcoin Cash is headed for a hard fork with potentially huge implications for one of the world's most popular cryptocurrencies.
0:08.0	Good evening. I'm Mark Hoxstein, and this is late confirmation from CoinDesk, bringing you the top stories for Monday, November 12th.
0:20.0	Also on today's show, Singapore's central bank
0:24.2	has unveiled new information about its blockchain development efforts, and the CFTC has handed down
0:31.5	a more than $1 million fine in a crypto fraud-related case. Stay tuned for more on these stories on today's show.
0:41.5	Bitcoin Cash's upcoming network update, or hard fork, is coming on Thursday, November 15th.
0:49.5	But a fractious divide between competing stakeholders has raised the specter that the fourth largest
0:55.6	crypto by market cap, which broke off from Bitcoin in the heat of the scaling debate last year,
1:01.5	could itself split into two. In the run-up to the event, pre-fork trading of Bitcoin cash
1:08.0	continues apace on Poloniacs. And while trading preference is tilting toward
1:12.9	Bitcoin ABC, a majority of the hash power currently on the network appears to be in favor of another
1:19.8	implementation known as Bitcoin SV. That stands for Satoshi's vision. Data from Coin Dance indicates that Bitcoin SV, the implementation advanced by cryptocurrency
1:32.7	firm N-Chain and its controversial chief scientist Craig Wright, has accrued the most
1:38.5	hashing power ahead of the fork date.
1:41.1	CoinDance estimates at least 63% of Bitcoin cash miners are supporting SV,
1:47.7	compared to at least 18% for Bitcoin ABC. These figures aside, the hash power support levels
1:54.5	remain estimates. The data itself is based on which mining pools have indicated support for each of the resulting
2:02.0	coins after Bitcoin Cash hard forks on November 15.
2:07.0	Based on public statements, CoinGeek, SV pool, BMG pool, OKminer, and Mempool, which
2:14.2	have all indicated support for Bitcoin SV, control a total of at least 73% of the
2:20.2	network hash rate as it exists as of press time, according to Coin Dance.
2:27.1	The monetary authority of Singapore and the country's stock exchange, the Singapore Exchange,
	...

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