The index of dominance of bitcoin rose to 66.7% of

Despite the fact that in recent weeks, bitcoin is not very confident with the price point of view, its predominance over the rest of the cryptocurrency market continues to grow.

Thus, according to CoinMarketCap, on Tuesday, July 16, the index of dominance bitcoin rose to 66.7%. This was the highest figure since April 24, 2017, when this value was 66,55%.

Data: CoinMarketCap

The last peak index of the dominance of the first cryptocurrency was recorded 8 Dec 2017 year and was 66,52%.

Also note that on the second capitalization cryptocurrency Ethereum now accounts for 8.43 percent of the market, occupying the third place in ranking CoinMarketCap token XRP – 4,63%. The total market capitalization of crypto-currencies — $286,65 billion.

We will remind, last week, renowned investor and founder of Capital Partners Mobius mark Mobius, who previously held a rather skeptical stance on the cryptocurrency, said that if the growth of bitcoin will continue, it may in the end to invest in it.

At the time of writing the first cryptocurrency was trading around $10 780 up for the last day in price by 4.5%.



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SEO Ripple believes that cryptocurrencies will not be able to crush the US dollar

The head of the Californian FINTECH start-up Ripple brad Garlinghouse agreed with the Secretary of the Treasury Stephen Mochina that cryptocurrencies will not replace Fiat money, but also said that the Finance Minister consulted with him on questions of regulation of kryptonyte. He said this in one of the last entries on Twitter.

So, yesterday Stephen Mnuchin held a press conference during which he stated that US authorities are «very serious doubts» in relation to Libra digital currency, and bitcoin and other cryptocurrencies in General.

SEO Ripple convinced that digital assets will not be able to «crush the dollar or other currencies the G20 in our time». Arlinghaus stressed that it is impossible to cut all kryptonyte with the same brush, as it has come a long way since the Silk Road.

«Our industry was successful, we need to work with regulators and within the established framework… If we want to achieve maximum progress, we need to work together with the existing financial system, not against it», — said the head of the Ripple.

He also raised a sensational recent cryptocurrency project Libra from Facebook, stressing that the new coin «must meet the same standards as other regulated financial institutions.»

It should be noted, about Libra spoke, and the Chancellor of the exchequer of great Britain Philip Hammond. So, in a conversation with CNBC, he said that the British authorities do not intend to interfere with or stop the project Facebook.

Moreover, Hammond is sure that politicians and legislators should not do to develop control measures for Libra, as it is entirely the task of the regulators.

«We are not going to abandon this [of Libra] or try to stop. We are going to interact with her and to work with others to ensure its effective regulation,» — said the politician.

However, he noted that he sees a difference in management structure between bitcoin and Libra.

Note, in the coming days, on 16 and 17 July, will hold hearings on Libra in the Banking Committee of the Senate and the Committee on financial services of the house of representatives, respectively. Earlier Calibra CEO David Marcus published a written version of their upcoming performances in the U.S. Congress.



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CoinMarketCap changed the mechanism for calculating emissions Binance Coin. BNB capitalization fell by $1.5 billion

Analytical service CoinMarketCap has made adjustments to the mechanism for calculating emissions BNB, the native token of the leading cryptocurrency exchanges Binance. It happened a few days after Binance reported on developments in its program for burning token BNB.

So, last week, the exchange burned 808 888 BNB for a total of $23,838 million As then said Chanpen Zhao, for the development of the ecosystem Binance his team in General does not use those coins which were initially distributed on its needs (40% of total emissions).

«CMC just «vows» BNB for 80 million Principles calculation of outstanding tokens on CMC only work for coins mined by means of mining. They do not work for projects with burning, unlocked the allocations of commands and other things. Well, nothing, BNB has room to grow», — I wrote to the CEO of Binance Chanpen Zhao to Twitter on Tuesday morning, July 16.

As a result, market capitalization of the BNB declined by more than $1.5 billion (from $to 4.59 billion to $billion to 3.08), and the token in CoinMarketCap ranking fell from sixth place to eighth.

As expected, the exchange will continue to burn coins as long as the issue will not reach 100 million BNB. Currently this value is around 109,1 mln BNB.

We will remind, last week Binance launched to all of its users a platform for margin trading.


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Platform NovaChain suspect to exit same: the project was closed the website and social networks

Team NovaChain cryptocurrency platform that offer passive income from trading bots, could disappear along with their customers. So, at some point all of a sudden stopped working NovaChain website and social media accounts. It is reported The Coins Post.

A year ago NovaChain used quite actively promote bloggers wrote about how to quickly and easily make with the help of platforms and social networks you can find a lot of positive feedback about the project.

Recently, however, the website NovaChain suddenly stopped working, and the social media accounts were deleted.

Many people immediately started talking about the exit same platform, and the network began to appear a lot of negative feedback from disappointed investors. One of them said that the total damage from the actions NovaChain is about $4 million

However, some do not lose hope: in one of the Telegram channels of the project was allegedly issued a warning about the need to close all services to «conduct a full restore from backup» after hacking platform.

We will remind, last month the leadership of the cryptocurrency exchanges Bitsane disappeared with funds of nearly 250 thousand users.


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Opinion: Attack trump for money could push BTC to $40,000

Social media users continue to discuss a recent tweet by us President Donald trump, in which he made unflattering remarks about bitcoin and other cryptocurrencies.

Many analysts and traders believe that the statement of the head of the White house will have a positive impact on the rate of BTC. For example, this view is shared by analyst company Mogran Creek Jason Williams.

He tweeted that trump’s attack on bitcoin will trigger a spurt of coins due to a sharp increase in investor interest in the digital asset.

The expert said:

Attack trump for money could push bitcoin to $40 000 by the end of the year.

Williams noted that after the appearance of the President of the United States the number of search queries on the Internet on the topic of bitcoin has increased dramatically. Trump has reignited interest in coin, so soon we will see a new surge in its value. Moreover, the rally will be much more aggressive in previous races, said the representative of Morgan Creek.

On Tuesday, July 16, bitcoin could do to win back the positions lost the day before. The coin went up to $10 815, its market capitalization now exceeds $192,508 billion.

Analyst Fundstrat Tom Lee also believes that the statement of trump overall positive impact on the cryptocurrency industry. In one of his last posts on Twitter, the expert noted that in the near future we will witness the explosive growth of bitcoin. One of the drivers dash coins will be the launch of cryptocurrency platform Bakkt.



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CoinFLEX launches initial offer futures tokens Polkadot project

Exchange of cryptocurrency futures CoinFLEX announced the holding of the initial offering of futures (IFO), it is noteworthy that the campaign will be aimed at not-yet-existing token Polkadot project. It is reported by CoinDesk.

«The first time we are launching the futures market for the coin that does not yet exist. Actually, we set the price of the asset before its appearance», said CEO CoinFLEX mark lamb.

IFO Polkadot kicks off on Wednesday, July 17, and will be the first campaign, for participation in which the users will have to buy native token CoinFLEX. This model resembles the mechanism used in the conduct of tomenselo on Binance. Under the terms of the proposal, the users will be 300 tokens FLEX, will be given a discount on the contracts at a price of $75 for a single token DOT.

The publication quotes one of the traders, who on condition of anonymity, said that this price is generally consistent with the DOT quotes on the OTC markets. At the same time, in order to achieve the stated capitalization of the project at $ 1.2 billion, the price of a token to exceed $100, he said.

Web3 Foundation and founder of the project Polkadot Gavin wood declined to comment.

Mark lamb, meanwhile, did not specify which firms act as market-makers for futures contracts, tokens. DOT, saying only that they include Asian investors potentially willing to offer «millions of dollars».

«To participate in the presale, users must have one thousand token FLEX», said lamb, adding that the contracts will expire four weeks after the DOT token will be officially launched in the core network. When exactly this will happen is still, however, unclear.

Like BNB, token FLEX can be used for the payment of fees for trading and access to exclusive offers, such as, for example, the upcoming IFO Polkadot. Also, according to lamb, this summer, the platform plans to add futures on the BNB and Tron.

We will remind, a platform for trading in deliverable futures on bitcoin, Cash Bitcoin and Ethereum CoinFLEX launched in February of this year.

In June Web3 Foundation announced the successful completion of private licensee, the purpose of which was to raise funds for the development of a Protocol Polkadot. According to the statement of a Swiss-based non-profit organization, then in total it sold 500 thousand tokens, DOT (5% of the total emission), then the capitalization of the project rose to $1.2 billion.


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Network Binance Chain successfully carried out the planned Galileo hardwork

In the core network Binance Chain was held on the previously announced update Galileo. Now on the exchange Binance DEX appeared the possibility of delisting of the trading pairs, and implemented the concept of maker and teyker.

In particular, a new option of delisting can be realized by the community if the trading pairs for long time will have low trading volumes, the community can make the decision to remove them from the auction.

The exchange also added to the engine mapping applications the concept of maker and teyker and improved the synchronization of the blockchain.

In addition, along with updating based on Binance Chain projects were able to block a certain number of its own tokens with the condition subsequent unlock.

We will remind, recently Binance launched a platform for margin trading for all users.


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How to destroy bitcoin?

Fearless honey badger, known for the ability to survive the bites of poisonous snakes, no wonder has become a living mascot of bitcoin — during the years of its history the first cryptocurrency has experienced so many hacking attempts, internal conflicts and the attacks of the critics that has earned the reputation’s antifragile system. This term was invented by the economist Nassim Taleb, using it to describe phenomena that adverse conditions benefit:

«There are things and phenomena that shake-up is good; they blossom and develop in the face of variability, randomness, disorder, stressors, feelings of love, risk and uncertainty. Anthropole — not the same as elasticity, flexibility or invulnerability. Flexible or elastic confronts adversity and remains the same; antichrome, passing through trials, it only gets better.»

Thus, perhaps the most reliable way to kill bitcoin is to cease to doubt him. But in our world the furious competition of currencies traditional currencies, other cryptocurrencies, precious metals — is very unlikely, and we are likely to see many attacks on bitcoin and claims that «bitcoin is dead».

If you think that you can destroy the first cryptocurrency, it is possible to allocate three groups of attacks:

  1. Designed to slow the spread of bitcoin;
  2. Aimed at the destruction of the infrastructure of bitcoin;
  3. Aimed at slowing the development of bitcoin.

Here are eight ways to kill bitcoin, slowing down its spread.

1. Regulation

When the authorities restrict bitcoin the law, they punish users. In many small countries, the bitcoin was banned (Afghanistan, Algeria, Bangladesh, Bolivia, Ecuador, Morocco, Macedonia, Vanuatu and Vietnam), but outside of these States it is almost anything is not affected.

Another thing a ban in one country first row (USA, EU, China), but this has not yet occurred; perhaps we will see something similar in Russia, where the legal status of cryptocurrencies is in question.

We have seen that the rumors about bans in large countries, particularly China and South Korea, cause price reductions, sometimes significant, but it stimulates the market development in other countries. Yes, a price decrease leads to loss of the owners of the cryptocurrency, but encourages others to use it. Please note — the price of bitcoin fell, but it is fully functional.

2. The ban of bitcoin

We can point to pursue the known users of cryptocurrencies, but not allow anyone to use the system is technically impossible. Blockstream satellites now broadcast a signal to America, Africa and Western Europe, and soon the coverage will be global, so that inexpensive satellite dish will allow you to communicate with the blockchain, even if such traffic is prohibited in one country or another.

In addition, there are methods of masking the blockchain messages through Tor, SMS, encrypted emails or any text messages, you can also use steganography, hiding the desired sequence into a harmless graphic image.

According to renowned entrepreneur and preacher of cryptovirology Andreas Antonopoulos, these kittens 550 thousand encoded bitcoin transaction

Thus, the ban of bitcoin — a losing game for the government, because the code changes much faster than laws. Even the attack on bitcoin at the UN and WTO will probably only lead to going underground, and at the same time provokes development of new methods for hidden information transfer. This will increase the value of the cryptocurrency, as happens with other forbidden things, like drugs.

With regard to the prosecution of dealers or other players, this is definitely happening: we can recall sitting in jail Ross Ulbricht, accused of creating a trade darknet site silk road, and Charlie Srama, who was charged with illegal transportation of money.

Nevertheless, we see that, despite the sad fate of Ulbricht and Crema, and decentralized exchange, and underground trading platform live and thrive. It seems that these legal risks do not stop users, and only encourage them to develop more sophisticated technical tools.

3. Cyberwar

Usually this term refers to hacker attacks and manipulation of public opinion in social networks in the performance of the actors relevant to the state. But we’ll talk about the hacks in General, whoever they may be doing individual, group, or governmental structure.

Until now, bitcoin has proven resistant to such interventions, despite the huge financial incentive on the side of the attackers because of its decentralized nature and the system proof of performance.

If a hacker tries to run a transaction changed AT the bitcoin code, such records will be immediately rejected by the network, and the more the network of independent nodes (over 12 thousand), the less likely it is that such an attack would work.

To modify a record in the blockchain, you need to control more computational power than all bona fide miners. And even in this case you can change the algorithm proof of performance in response to the attack, thus devalued a huge investment in equipment.

Unfortunately, all of the above applies only to the bitcoin, but not serving its services or its users.

4. Cyber attacks slowing the spread of cryptocurrencies

For many years we have read of periodic break-ins of major cryptocurrency exchanges, including Mt.Gox and Bitfinex — in amount at different times it was stolen more than 1 million bitcoins. Of course, these hacks affect the popularity of the system, because, once lost money, people may not want to risk again.

The situation is compounded by the fact that the media does not specialize in technology often increases the damage to the reputation of crypto currency without sharing the hacking of a company working, for example, with bitcoin, and bitcoin itself, which, of course, generates in society skepticism about the security of cryptocurrency.

5. State hunting users ‘ personal data

States are increasing pressure on business, causing the services to give out personal user data required to identify them — this is done to combat money laundering. However, it is difficult to say how these measures affect the popularity of bitcoin as ways to buy and sell it anonymously still.

It is important to keep in mind that telling your personal information to service users risk — if the merchant’s site is hacked, their information can be stolen, and this, in turn, could lead to a massive attack (online or offline) to bitcoin users. In addition, customer information may require the tax authorities, as recently happened to Coinbase.

6. PR-attack

Public opinion habitually associates bitcoin with crime, and this card again and again cast as the leading media and policy. In 2017, a survey was conducted, which showed that the majority believes that bitcoin is more often used for crime than for legitimate purposes. Actually it is not, and probably legitimate transactions is significantly prevail in the system.

If you think it is easy to understand that the traditional currency to a much greater extent involved in illegal turnover — studies show that in darknet mainly sell soft drugs, i.e. marijuana and ecstasy, and a recent report by Europol did not provide any evidence of the use bitcoin to Finance terrorism.

7. Financial attack

This category can be attributed, in particular, the creation of a competing cryptocurrency controlled by the state — an example is the recently established Venezuelan El Petro. Although, perhaps, the competition in this particular case, can not speak, because while the new currency did not gain popularity and has no economic value.

If you can imagine a cryptocurrency, backed by a more powerful country with developed Finance and advocacy opportunities, the results can be quite different. Moreover, such a cryptocurrency will probably be centralized, in contrast to bitcoin, but however that will partially displace it from the market.

8. Parasitism in the title

There is at least one striking example of alternative cryptocurrencies, confusing users — breakaway bitcoin Bitcoin Cash. This is the most coherent and well-funded attack of this kind, consisting of the following elements:

  • Pumping means competing centralized cryptocurrency (Bitcoin Cash Melnitsa almost exclusively by Bitmain) that it has surpassed the original in terms of capitalization.
  • Large-scale market manipulations designed to spread fear and uncertainty in bitcoin (many against bitcoin articles in the section /btc on Reddit).
  • The artificial creation of public and political opposition to bitcoin. It is argued that a Bitcoin Cash — this is the «real bitcoin» because it satisfies some perverse interpretation of the ideas of Satoshi Nakamoto. The bitcoin, they are often referred to as Bitcoin Core.
  • The fragmentation of a large user community — section /btc on Reddit was separated from bitcoin under the pretext of censorship after the failed attempts to hold the various options for partitioning the network.
  • Control of a large community of users. Unfortunately, the supporters of Bitcoin Cash control account #Bitcoin on Twitter, and domain Bitcoin.com and these seemingly official sources of information to confuse newbies.

Yes, for some users this «evil twin» successfully misled, but probably shortly after the beginning of operation of the system Lightning, technical and economic merits of bitcoin will become so obvious that doubts will come to naught.

A cyber attack on the network

If a spam attack, that is, to create a large flow of transactions, it would slow down the network and cause the increase of payment for the transaction — and such attacks were carried out several times. Most of them win fans altcoins, and in particular, currencies that broke away from bitcoin. Their supporters are referred to as the main reasons for creating separate projects, the high cost of using bitcoin.

Thus, organizing spam attacks on the Bitcoin network, direct competitors, for example Bcash, explain the need for its currency. Often these attacks occur in parallel with a PR attack in a traditional and not quite traditional media and in social networks.

Spam attacks are easily detected by a sharp increase in the number of transactions

If this happens in a period of high demand, for example, sharp fluctuations in prices, users are very unhappy. The cost and difficulty of organizing such attacks increases due to network upgrades — SegWit before and Lightning Network in the near future. Scales better than bitcoin, the more expensive a similar attack — with one exception…

If the spam attack conspired to commit the miners, they can recover a substantial portion of the increased commissions, as paid-they are in this case themselves. While for other users the Board will rise and the miners will receive additional income from the increased prices.

However, it is known as the attack 51%, contrary to the long-term economic incentives of miners, since such action could scare away users, to reduce the activity of the bitcoin network and the value of the cryptocurrency, which compensates for momentary received earnings.

Such economic incentives prevent many other possible attacks on the part of the miners. However, against the centralization of bitcoin mining and production of equipment for him, the Chinese company Bitmain, a fear of attack from the funded States miners.

The dominance of the dollar as the global reserve currency is likely over, and some believe that bitcoin can, at least partially, to replace him in this capacity. Such events could induce the Chinese government to force their miners to act for political purposes and against their commercial interests. However, given the fact that the people’s Bank of China reduces the supply of miners and scatters them around the country, they don’t seem to materialize this scenario in the near future.

There are several known types of attacks, which can cause failures in the network: this is Sybil (about the signature when interacting nodes), tailgating (manipulation of the timestamp of the transaction) and DoS (denial of service). These attacks require large amounts of computing resources, but their effects are not very large: most users of bitcoin are banned automatically correctly behaving nodes.

Given that now in the network there are about 12 thousand active nodes to have a noticeable effect, the attack must be very expensive and expertly organized.

A high-level cyber attacks

In August 2010, was used the so-called zero-day vulnerability, that is, previously unknown, associated with the overflow values was then created 184 billion bitcoins superfluous. The mistake was corrected five hours, the blockchain was forked, and incorrect transaction is destroyed.

The consequences of the incident were small only because at the time bitcoins were used by few people — now, this incident would have turned into chaos, major loss and blow to the reputation of cryptocurrencies.

If it has found a vulnerability in one of the cryptographic algorithms used in the network, for example, SHA-256 (used in the implementation of the algorithm proof of performance) or ECDSA secp256k1 (used in the mechanism of public and private keys) — it will be a disaster, requiring immediate updates, and the problem will affect not only bitcoin.

Some security experts predict that within 10 years quantum computing will be able to break the encryption of bitcoin, but if this prospect becomes real, the network is likely to switch to stronger algorithms.

There are other attacks that, if you believe Edward Snowden can be quite a force government agencies like the American NSA. For example, they can force a major supplier of equipment to embed a particular vulnerability in the processor or the OS — it is known that all the major tech companies in Silicon valley, including Microsoft, Apple, Google and Facebook, for years cooperated with the secret services.

Newly discovered vulnerabilities Meltdown and the Spectre in modern processors can be used to compute the private keys of Bitcoin even on a secure system with open source. This can be prevented using a hardware wallet, but the security services can be persuaded to cooperate and major provider of the software or hardware for bitcoin wallets.

It is known that in the past these agencies were implemented in various systems carefully hidden vulnerability, and concern about this increased after 2011, when a former kernel developer IN the bitcoin Gavin Andresen called for the CIA. However, given the number of experts, analyzing the code of bitcoin, hide in it something like that it would be extremely difficult.

So: we realized that the rich and the competent authority may cause significant harm to bitcoin. However, since it would reveal their capabilities and methods are likely for such an attack needs a strong political motivation.

How to slow down the development of bitcoin

A good example of attempts to prevent the necessary update can be considered a story with Bitmain. This company tried to block softpark SegWit because the update would result in the inability to further exploit latent vulnerability Mining AsicBoost. Ultimately, despite the financial resources Bitmain and their near-monopoly on mining, the other participants managed to cope with them.

Forum /btc on Reddit often attacked by someone from the bitcoin developers — most of Greg Maxwell’s or Luke Dasra, but usually it has no consequences, except messages in social networks or notes on Bitcoin.com.

Although the loss of leading developers, no doubt, would stagnate the development of the network in the worst case it would mean stop, not a setback. A much more dangerous scenario is if the attacker get direct control over one of the most influential developers, who will receive a development dead-end road.

Bitcoin is invulnerable?

It seems that bitcoin is ready to rise indefinitely, but let’s not be too optimistic. You can destroy everything, including bitcoin. Fortunately, given its architecture, already passed the test and the current macroeconomic situation, it is extremely unlikely.

A real stress test may be the next financial crisis.



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Service CoinMarketCap has made adjustments to the display capitalization of Binance Coin

A popular service for tracking movements of the cryptocurrency market CoinMarketCap changed the calculation principles are issuing their own token exchange Binance.

Until recently, for the total amount Binance Coin (BNB) service took a value 189 175 490 for trial 141 175 490. According to the updated data, both values are 109 175 490.

Adjustments were made after Binance announced a change burning program tokens BNB. Now for these purposes it will use 80 million tokens allocated to her team, who were taken into account CoinMarketCap as unavailable to the market in the latest update.

The result is displayed capitalization BNB simultaneously dropped by more than $900 million or almost a quarter. Along with this token exchange Binance dropped from sixth position to eighth in the list of the largest assets on the version of CoinMarketCap.

«CMC just doing BNB for 80 million Methods of calculation of the working capital amount on the CMC only work for coins on the basis of mining. They do not work for projects with burning, unlocked teams, allocations and the like, – I wrote to the CEO of the Binance Changban Zhao in Twitter. Okay, BNB has room to grow».

In the beginning of last year CoinMarketCap has caused panic-sell XRP on the market, without any warning excluding from the calculation the data of stock exchanges of South Korea, the price of which was significantly different from the average.



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Treasury Secretary: cryptocurrency is a matter of national security

In anticipation of Tuesday’s speech the head of the blockchain division Facebook David Marcus in Congress, the US Treasury Secretary Steven Mnuchin held a press conference at which he announced that the administration trump has «very serious doubts» in relation to Libra digital currency, and bitcoin and other cryptocurrencies in General. It is reported Bloomberg.

In particular, Mnuchin said that digital currencies can facilitate money laundering and other illegal activities, and promised that the U.S. Treasury will make every effort to counter the offenders of the law.

«It’s really a matter of national security. We will not allow providers of services in the field of digital currencies to operate in the shadows,» he said.

Any specific measures that intends to take the Ministry, the Minister is not named, but many of his words sounded in unison with the statements made last week by US President Donald trump.

«Bitcoin is characterized by high volatility, he has not provided. We are concerned about its speculative nature and will do everything necessary to protect the US financial system from fraud,» said Mnuchin.

He also added that he plans to discuss this «problem» at the summit «the Big seven» which will be held this week in France, stressing that extensive discussions are already underway with fed Chairman Jerome Powell.

Earlier on Monday David Marcus published a written version of their upcoming performances in the U.S. Congress. In particular, he stressed that the activities of the consortium Libra Association will be governed by the Swiss service for supervision of financial markets (FINMA), and the launch of the project Libra will be only after I dispelled the doubts of the regulators.


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