Coinbase Is Not Able to Manage Transaction Volume 386

Jameson Lopp, leading engineer and software architect at BitGo, expressed his negative opinion about the largest virtual currency platform Coinbase.

The expert criticized the fact that the platform does not use Segregated Witness (SegWit) and batch processing of cryptocurrency transactions.

Lopp listed some large cryptocurrency exchanges that use batch processing IIRC and SegWit to lower the commission fees and network loading. He mentioned Bitstamp, HitBTC, Kraken, LocalBitcoins and QuadrigaCX, that use both SegWit and IIRC.

Other famous digital currency experts also criticize large companies, such as Coinbase and Blockchain, because they do not implement SegWit and batch processing of transactions to decrease commission fees for their clients and improve the overall transaction capacity of the bitcoin network.

According to them, big platforms like Coinbase process more transactions than 70% of companies working in this branche. So Coinbase has a really significant influence on bitcoin operations.

Coinbase president Brian Armstrong replied that that the company will add SegWith, batch processing of transactions and other innovative solutions to improve the situation with  the low speed processing of bitcoin transactions. In his Twitter he says:

Anyway the time will show whether the implementation of SegWit and batch processing of transactions really improves bitcoin scaling and lowers the network loading.

 

Buterin, Winklevoss and Others: The Future of the Digital Currency World According to Major Crypto Personalities 798

experts opinions on crypto

The crypto world has entered the new stage of its development, it has always been volatile, but these couple of weeks have been absolutely crazy: coins are jumping up and down, Bitcoin ETF is on its way, blockchain is taking over the world.

No doubt, crypto specialists and financial experts have a lot to say. Today we came up with a compilation of sayings from the stars of the cryptocurrency universe that we found particularly interesting and important.

The CEO of the crypto exchange Gemini, Tyler Winklevoss believes that the acceptance of cryptocurrency in the world as a means of payment equal to fiat will not happen in the next couple of years:

The vast majority of Wall Street firms are still not participating in the cryptocurrency market, which remains primarily a retail-driven market. This will change over time, but it will take time.

Pantera Capital’s CEO is way more optimistic on this issue. He sees great potential in the blockchain technology, and digital coins, according to him, are “superior form of currency.

Ethereum’s founder Vitalik Buterin wants cryptocurrencies to become more user-friendly and common in the everyday life. He also thinks it may become possible only in case the proper regulatory framework for crypto is developed by the state governments.

I want to be able to walk into a convenience store, get a card and pay a small fee to start using Bitcoin Cash,” he said.

The last, but certainly not least, is the CEO of BitMEX, Arthur Hayes, who has some serious doubts concerning Ethereum. According to his calculations, the price of the world’s #2 coin will drop lower than $100.

It is this moment,” he added, “that Ether goes from a 3-digit to a 2-digit shitcoin.

Although we are sure that experts know what they are talking about, the crypto world is way too unpredictable. We can only wait and see whether the abovementioned predictions turn out to be true or not.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Andreas Antonopoulos Criticized Bitcoin ETF 627

opinion on bitcoin etf

The well-known author of books about Bitcoin and the founder of his own Bitcoin-business Andreas Antonopoulos published a Youtube video where he expressed his opinion about Bitcoin ETF and explained why they cause so much sensation.

I’m going to burst your bubble. I know a lot of people really want to see an ETF happen because ‘too the moon’ and ‘lambos’ and all that. I think it’s a terrible idea. I still think it’s going to happen… I’m actually against ETFs,” he said.

Antonopoulos explained that he understands why many people are so impressed by the idea of Bitcoin ETF:

Everybody’s so excited about ETFs because what we’ve seen in other markets is that when an ETF becomes available—as we saw in gold—the price really increases dramatically as suddenly that commodity becomes available to a lot more investors and these investors pile on. But the other side of it is that there’s always these claims that the commodities markets are heavily manipulated and opening up these exchange-traded instruments only increases the ability of institutional investors to manipulate—especially [in the case of] large market makers—the prices of commodities, not just in the markets where it’s traded as an ETF but more broadly,” he clarified.


We remind you that the SEC postponed the decision upon Bitcoin ETF until September.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

The Former CEO of Paypal: Bitcoin Is Eventually Going to Go A Whole Lot Closer to Zero 700

bitcoin's future is not bright

The ex director of Paypal Bill Harris is known for his scepticism and harsh comments aimed at Bitcoin. He even called it “the greatest scam in the history”. This time CNBC interviewed Harris to find out whether his opinion on the world’s #1 digital coin has changed.

According to the businessman, Bitcoin is supposed to be “instant, free, scalable, efficient, secure, globally accepted and useful”, and it fails to fulfill all of those characteristics. Harris believes that there is “no value” in BTC.

He has also mentioned that there is no need in solving the problem of Bitcoin scalability, because we don’t need Bitcoin at all.

Look how difficult it is to get money from one country across the border to another. It’s slow, it’s expensive, it’s all those things. Agree. You don’t need Bitcoin, you don’t need XRP, you don’t need any of that to solve that problem. What you need is faster networks.

Unlike many of his colleagues, Bill Harris has way more trust in conventional fiat currencies due to their relative stability which cannot be said about Bitcoin.

In conclusion he summed up his thoughts by saying:

Bitcoin makes no revenue, no profitability.

Frankly speaking, the current CEO of Paypal Dan Schulman agrees with Harris on this issue, although Paypal might change its opinion on BTC if it becomes more stable.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Forbes Published 5 Main Blockchain Tendencies for 2018 782

blockchain trends

Blockchain is one of the most rapidly developing technologies of all times. Its main features (speed and transparency) earned recognition and approval from businesses and companies from all over the world.

Forbes has conducted a research and established 5 major paths that the blockchain is likely to follow this year.

1. Companies actively implement blockchain. For example, we have recently reported about the pilot version of election in Ukraine conducted on blockchain.

2. Implementation of this technology follows a thorough research. With blockchain being fairly new, the more conventional fields that are not related to digital technologies or computer sciences treat it very carefully. For example, the Stanford University created a research center for possible introduction of blockchain in the future.

3. The hype is going to fade. Blockchain has been marketed as a panacea for quite a while. Many people were sure it would help to solve major world problems. However, the results coming from this technology, though being mostly beneficial, are not as phenomenal as everyone thought they would be.

4. New and smaller projects are more likely to implement blockchain since they are more adaptable to changes and upgrades. Huge companies like Amazon find it way more difficult.

5. The personal information on people and other important data will be secured a lot better with the help of blockchain. Scammers never rest, however, blockchain will ensure that they have the hardest time ever hacking and stealing.

Thus, we can definitely see a lot of potential for blockchain. More and more companies choose to implement it. Hopefully, this technology will keep flourishing and bring benefits to those using it.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

Marvel Is Not Happy About the Cryptocurrency Startup Using the Name Mentioned in One of Its Movies 631

marvel's trademark was used by crypto startup

Numerous startups try to create the hype using the names of famous people, companies, movies etc. The project Wacoinda was no exception. Its name is particularly similar to the word Wakanda which is a made-up African country in the Marvel movie “Black Panther”.

Wacoinda is a crypto startup aimed at providing financial education for African-Americans. By the way, this is not the first time a project used the concept of “Black Panther”. The famous rapper Akon launched his own digital coin and had plans of creating a crypto city in Africa similar to Wakanda.

Nevertheless, the representatives of Marvel did not quite support the endeavour of Wacoinda. They filed a lawsuit to the US Patent and Trademark Office asking to give them more time to decide whether they want to sue Wacoinda or not. The decision will be taken on the 14th of November.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/

A Review of the Odyssey Project or How to Transfer the Sharing Economy into Blockchain? 917

According to many experts, in the next couple of decades humanity will switch to the economy of general use (or sharing). This will concern many things that are accepted today (car, real estate, etc.). Within the framework of this article, we will tell you how this, not yet implemented common-use economy can be transferred to the blockchain. So, the review of the Odyssey cryptocurrency.

Contents:
(please, click the topic to scroll down to it)

  1. What is the Odyssey cryptocurrency?
  2. Odyssey in figures
  3. Forecasts
  4. Conclusion

1. What is the Odyssey cryptocurrency?

The main mission of the project is to combat the centralized sharing economy. In the near future, as the developers themselves assure, joint use will be quite ordinary, and personal possession, on the contrary, will become an unacceptable luxury. That is, within the framework of this economic model, You will not personally have anything, but You will be able to use what you want. Such an approach should lead mankind away from the consumer society and substantially raise the overall level of well-being.

This project comes from Singapore; its main idea is the creation of a decentralized version of the economy of the future, which will be oriented towards the common use of various things. The developers want to significantly reduce costs and increase the efficiency of marketplace applications, as well as create their own Odyssey system.

The main consultant of the project is the general director of TRON Justin Sun. Major Odyssey investors are:

  • Eddie Wu, Alibaba’s co-founder;
  • investment trust Vision Plus Capital;
  • TRON Foundation, etc.

The main principles of Odyssey:

  • everything can be combined and shared;
  • everyone has the right to possess information;
  • all participants in the system can count on income, which will depend on their initial contribution;
  • there should not be a monopoly in the sharing economy;
  • the new economic model will be effective only if it becomes autonomous.

Summarizing, we can say that the Odyssey system is a kind of marketplace for sharing, based on blockchain technology.

2. Odyssey in figures

This coin appeared relatively recently, only in early 2018. If you look at the chart, you can see that Odyssey’s currency exchange rate has significantly decreased from $0.09 to today’s $0.003.

The total issue is 10 billion tokens, now 4.75 billion are issued. Market capitalization as of mid-August 2018 is slightly more than $17 million. The coin takes the 244th place in the global rating of CoinMarketCap.

3. Forecasts

The Odyssey (ocn) cryptocurrency is now showing a negative yield, it is, to a large extent, related to the general trend in the market. It is rather difficult to predict the price of cryptocurrency in such conditions. Nevertheless, this project is potentially promising for the following reasons:

  • developers follow the schedule written in the project road map;
  • in the future, it is planned to create its own stock exchange;
  • the team actively works on the project, periodically consults the community through polls, voting, etc .;
  • the Odyssey project is closely connected with TRON, which ranks 12th in the rating of all cryptocoins;
  • economy of common use is the vector where the movement of mankind has already begun.

4. Conclusion

If you plan to invest in Odyssey, you should count on a long time, because the project is still too young and for its development there is still a lot to do. The sharing economy is also not tomorrow and not even in a year will become the norm, so that the global Xs in the near future should not be waited for. Also do not forget about diversification of your investment portfolio, this will significantly reduce the risks of a complete loss of capital. The Coin Shark continues to monitor the news of the cryptocurrencies and look for new promising projects.

Subscribe to The Coin Shark news in Facebook: https://www.facebook.com/coinshark/