Banned From Trading Forever
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 12 November 2018
⏱️ 7 minutes
🧾️ Download transcript
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.
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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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