Home Crypto Daily Recap Daily Crypto Roundup 11/15/2018

Daily Crypto Roundup 11/15/2018

Today was an eventful day in crypto. Bitcoin Cash hard forked, Dogecoin sees more transactions than BCH, Iranian crypto interest, and further scam reports. All while Bitcoin seems to have found a bit of price support. Catch up on today’s action.

After The Fork: How Competing Bitcoin Cash Blockchains Might Wage War

The much anticipated Bitcoin Cash hard fork took place today. The already controversial BCH has turned even more controversial as the team has split in two directions.

Roger Ver Versus Craig Wright – Bitcoin ABC versus Bitcoin SV.

CoinDesk reports on the current battle for hash power, explaining – “[b]ecause of bitcoin cash’s underlying architecture, a 51 percent dominance in hash power will allow Bitcoin SV to launch attacks against the minority chain – and Wright has suggested that such action isn’t off the table”.

Other measures have also been taken to ensure only one chain’s survival. Technically speaking, there is statedly no transaction replay protection, leading to possible loss of assets as well as hacking risks.

Read on CoinDesk 

Such Hard Fork, Much Hot Air? Dogecoin Still Used 4x More Than Bitcoin Cash

Roger Ver is famous for promoting Bitcoin Cash as a method of payment. However, despite such efforts, Bitcoin Cash reportedly still lacks usage.

According to Bitcoinist’s reference to Coinmetrics data, “Bitcoin Cash still processes less than half as many payment transactions as meme-themed DOGE”.

Read on Bitcoinist

Without SWIFT, Iran Turns To Crypto

Due to recent limitations the U.S. has put on Iran, the country now sees more difficulty with international trade. This has led popular international payments operator SWIFT to halt its services for the Iranian Central Bank.

SWIFT is often relied on for international payments.

Iran looks toward crypto as a solution. “Despite its harsh stance against bitcoin and other cryptocurrencies in the past, Tehran has announced that it will be moving forward with plans to create its own state-sponsored cryptocurrency, much like Venezuela’s el petro”, reported Crypto Insider.

Read on Crypto Insider

US: Acting AG Backed Alleged ‘Invention-Promotion Scam’ Touting ‘Time Travel’ Crypto

The scam news continues to roll in as Matthew G. Whitaker, Acting U.S. attorney general, finds himself in the midst of scam involvement accusations, according to a CoinDesk report.

The scam involves “World Patent Marketing”, a supposedly crooked operation. The operation included advertising eccentric inventions made by ambitious inventors.

One such product even included a “theoretical time travel commodity tied directly to price of Bitcoin”, as reported by motherjones.com

Read on CoinDesk

Police Arrest 8 Over Alleged $68 Million Crypto Pyramid Scheme In Japan

The scams just keep rolling in as today brings news of a foiled crypto pyramid scheme.

Japanese police took eight men into custody for running a supposed crypto pyramid operation leading to almost $69 million in swindled funds.

Said business was not filed with proper authorities.

CoinDesk reports – “The men had reportedly touted a bogus investment firm called ‘Sener’ they claimed was be based in the U.S., and collected 29 million yen (about $2,55,403) in cash from nine people, between February and May 2017, in order to purchase bitcoins on their behalf, police reportedly said”.

Read on CoinDesk

The above is to be considered opinion and not investment advice in any way, as an unbiased media, no one interferes with the Editorial content of CryptoInsider.com, writers have freedom to choose their own direction, members of Crypto Insider do not participate in trades based on content.

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BTC: 1HozPdTTJahPigLXwMShErhubZLobBhFPL
ETH: 0xDf4d2529D777a80717E85Ed2269830ad6265951B
LTC: LMT3LCbCSvActkVo4dgzbHjn1HPrCgKch2
BCH: 17sFsLgZq9jibtqi5Bo5SiUcCD4TG8RQwE

Benjamin Pirus
Benjamin Pirus
BJ is a full time writer, editor, and trader in the cryptocurrency space. He has written many professional articles for numerous ICOs, news sites, and other interested parties in the crypto space. He is also a trader, staying up to date with the crypto markets constantly, and dabbling in traditional financial market trading occasionally.

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