Hong Kong is considering the launch of a state cryptocurrency; Ethereum developers confirmed the hard fork date; Tether commented on an updated article by American researchers.

Hong Kong is considering the launch of a state cryptocurrency; Ethereum developers confirmed the hard fork date; Tether commented on an updated article by American researchers.

1. On Friday, Bitcoin fell by a little more than 5%, reaching $ 8,800. In the previous days, quotes rose to $ 9,500, but not for long. At this time, the greed and fear index fell from 54 to 42.

Along with the decline, liquidation of long positions on the BitMEX exchange was observed. Their volume exceeded $ 57 millions.


«Everything now says that the bid book on the Bitcoin market is directed downward. However, don`t forget that the direction may change at any time» Gabor Gurbach, digital asset strategist at VanEck, said


2. The Hong Kong Money Management Authority (HKMA) is considering launching a state digital currency and the possibility of its real application in the financial sector.
A report on the results of the analysis will be published in the first quarter of next year.

According to Edmond Lau, senior executive director of HKMA, the organization is exploring the concept of digital currency based on tokens and the creation of debt securities by using blockchain technology.

 

3. Zhou Xiaochuan, Former head of the People’s Bank of China, who served there from 2002 to 2018, believes that Libra stablecoin could be perceived differently if an organization such as the IMF were involved in its creation.

«The initiative suffers from a lack of trust. The public will surely have questions regarding the motives of the Libra Association. It would be better if the initiative came from a large international organization, such as the IMF» Xiaochuan said.

 

4. According to the TokenAnalyst service, cryptocurrency exchanges Binance and Huobi are the most active in the context of moving bitcoins between trading platforms. Interestingly, they were both based in China, but then were forced to migrate to foreign jurisdictions: one moved to Malta and the other one to Singapore.

«Huobi wallets sent 259,000 BTC to Binance wallets this year. This is the biggest result. The total number of transactions is 48,000. The average transaction size is 5.4 BTC» TokenAnalyst noted.


 

In second place are the same exchanges, but in the opposite direction – from Binance to Huobi. 137,000 BTC were transferred from one exchange to another for 44,000 transactions.

Binance CEO Changpeng Zhao wrote the following comment on this subject:

«Go to daddy. China shows the activity»

 

5. Ethereum developers confirmed the previously announced activation date for Istanbul hard fork. It will be launched on December 4th. The creators of the Geth client announced the release of version 1.9.7 of their software, which will make the transition to the new network at block 9069000, as required by the hard fork procedure. Developers are asking the public to upgrade to the latest version as soon as possible.

In addition to initializing hard fork, the new software contains several additions and fixes. For example, Geth v1.9.7 integrates a new fork ordering mechanism that avoids the unplanned occurrence of new chains.

 

6. Tether gave an official response to American researchers who believe that the rapid growth of bitcoin in 2017 was triggered by one large whale operating on the Bitfinex exchange.

«This information is a weakened and defective version of the previous article. The claimed conclusions of the authors are based on a shaky foundation, where there is no complete data set. For example, the authors claim that they don`t have accurate information about the critical time of transactions or the movement of capital through various exchanges» Tether noted, adding that due to the lack of complete information, analysts cannot determine the sequence of events in detail.

The company also added that it has never used USDT tokens for manipulation of the market.

 

«All Tether tokens are backed up and issued according to market demand. USDT capitalization growth is not a tool for manipulation, but the result of efficiency».

 

7. The creator of Litecoin and the managing director of the Litecoin Foundation, Charlie Lee, believes that the destruction of 50 billion XLM provoked the centralization of the Stellar network.

«These tokens should have been distributed among a wide audience. Instead, the Stellar Development Foundation (SDF) burned only 5 billion tokens from personal reserves of 17 billion XLM.

Thus, now they don`t own 16% of the total number of coins, but 24%» Lee wrote.

Other representatives of the cryptocurrency community have a different point of view.

«It doesn`t matter where the coins were taken for destruction. The main thing is that they burned 50% of the emission. This campaign took place in public – it only increases decentralization. SDF is still a nonprofit organization» one Twitter user commented.

 

8. Bitcoin has both ardent fans and obvious critics. Among the latter, technology industry veterans often appear. So, the author of the C ++ programming language Bjarne Stroustrup criticized Bitcoin.

«When creating an instrument, you don`t always realize who and how will use it. This process cannot be controlled. I am happy and proud of some things that C ++ is used for, but at the same time I would like to limit some ways of using it. My favorite example is Bitcoin mining. It uses as much electricity as Switzerland, but at the same time it mainly serves the interests of criminals» he said.

 

9. On Tuesday, the Vietnamese cryptocurrency exchange VinDAX was hacked, as a result of which hackers managed to steal assets worth about $ 500,000.

The administration of the VinDAX Telegram channel confirmed the fact of hacking.

«The consequences of the attack were eliminated. Now the situation is under control» representatives of the exchange said. However, a source told The Block that hackers still managed to steal 23 cryptocurrencies worth about $ 500,000.

Since the beginning of the year, this is the seventh hack of the exchange. The total amount of stolen funds is more than $ 100 million, and over the entire existence of the industry, it reached $ 1.4 billion.

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1. On Friday, Bitcoin fell by a little more than 5%, reaching $ 8,800. In the previous days, quotes rose to $ 9,500, but not for long. At this time, the greed and fear index fell from 54 to 42.

Along with the decline, liquidation of long positions on the BitMEX exchange was observed. Their volume exceeded $ 57 millions.


«Everything now says that the bid book on the Bitcoin market is directed downward. However, don`t forget that the direction may change at any time» Gabor Gurbach, digital asset strategist at VanEck, said


2. The Hong Kong Money Management Authority (HKMA) is considering launching a state digital currency and the possibility of its real application in the financial sector.
A report on the results of the analysis will be published in the first quarter of next year.

According to Edmond Lau, senior executive director of HKMA, the organization is exploring the concept of digital currency based on tokens and the creation of debt securities by using blockchain technology.

 

3. Zhou Xiaochuan, Former head of the People’s Bank of China, who served there from 2002 to 2018, believes that Libra stablecoin could be perceived differently if an organization such as the IMF were involved in its creation.

«The initiative suffers from a lack of trust. The public will surely have questions regarding the motives of the Libra Association. It would be better if the initiative came from a large international organization, such as the IMF» Xiaochuan said.

 

4. According to the TokenAnalyst service, cryptocurrency exchanges Binance and Huobi are the most active in the context of moving bitcoins between trading platforms. Interestingly, they were both based in China, but then were forced to migrate to foreign jurisdictions: one moved to Malta and the other one to Singapore.

«Huobi wallets sent 259,000 BTC to Binance wallets this year. This is the biggest result. The total number of transactions is 48,000. The average transaction size is 5.4 BTC» TokenAnalyst noted.


 

In second place are the same exchanges, but in the opposite direction – from Binance to Huobi. 137,000 BTC were transferred from one exchange to another for 44,000 transactions.

Binance CEO Changpeng Zhao wrote the following comment on this subject:

«Go to daddy. China shows the activity»

 

5. Ethereum developers confirmed the previously announced activation date for Istanbul hard fork. It will be launched on December 4th. The creators of the Geth client announced the release of version 1.9.7 of their software, which will make the transition to the new network at block 9069000, as required by the hard fork procedure. Developers are asking the public to upgrade to the latest version as soon as possible.

In addition to initializing hard fork, the new software contains several additions and fixes. For example, Geth v1.9.7 integrates a new fork ordering mechanism that avoids the unplanned occurrence of new chains.

 

6. Tether gave an official response to American researchers who believe that the rapid growth of bitcoin in 2017 was triggered by one large whale operating on the Bitfinex exchange.

«This information is a weakened and defective version of the previous article. The claimed conclusions of the authors are based on a shaky foundation, where there is no complete data set. For example, the authors claim that they don`t have accurate information about the critical time of transactions or the movement of capital through various exchanges» Tether noted, adding that due to the lack of complete information, analysts cannot determine the sequence of events in detail.

The company also added that it has never used USDT tokens for manipulation of the market.

 

«All Tether tokens are backed up and issued according to market demand. USDT capitalization growth is not a tool for manipulation, but the result of efficiency».

 

7. The creator of Litecoin and the managing director of the Litecoin Foundation, Charlie Lee, believes that the destruction of 50 billion XLM provoked the centralization of the Stellar network.

«These tokens should have been distributed among a wide audience. Instead, the Stellar Development Foundation (SDF) burned only 5 billion tokens from personal reserves of 17 billion XLM.

Thus, now they don`t own 16% of the total number of coins, but 24%» Lee wrote.

Other representatives of the cryptocurrency community have a different point of view.

«It doesn`t matter where the coins were taken for destruction. The main thing is that they burned 50% of the emission. This campaign took place in public – it only increases decentralization. SDF is still a nonprofit organization» one Twitter user commented.

 

8. Bitcoin has both ardent fans and obvious critics. Among the latter, technology industry veterans often appear. So, the author of the C ++ programming language Bjarne Stroustrup criticized Bitcoin.

«When creating an instrument, you don`t always realize who and how will use it. This process cannot be controlled. I am happy and proud of some things that C ++ is used for, but at the same time I would like to limit some ways of using it. My favorite example is Bitcoin mining. It uses as much electricity as Switzerland, but at the same time it mainly serves the interests of criminals» he said.

 

9. On Tuesday, the Vietnamese cryptocurrency exchange VinDAX was hacked, as a result of which hackers managed to steal assets worth about $ 500,000.

The administration of the VinDAX Telegram channel confirmed the fact of hacking.

«The consequences of the attack were eliminated. Now the situation is under control» representatives of the exchange said. However, a source told The Block that hackers still managed to steal 23 cryptocurrencies worth about $ 500,000.

Since the beginning of the year, this is the seventh hack of the exchange. The total amount of stolen funds is more than $ 100 million, and over the entire existence of the industry, it reached $ 1.4 billion.

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