As the dust settles from yesterday’s Bitcoin Cash fork, EOS sees decentralization issues, a possible bounce for Bitcoin, big inflatable Bitcoin rat protesting, further SEC ICO rulings, and the use of cryptocurrencies in Venezuela. Catch up on today’s news details.
EOS Stolen Funds Arbitration Ruling Scoffs At Decentralization
EOS has seen significant attention during many points this year. EOS looked to provide a decentralized scalable option. Although EOS’ true decentralization has been up for debate.
The project has recently received attention for EOS arbitration.
“At the discretion of an entity known as the EOSIS Core Arbitration Forum (ECAF), transactions can be reversed on the chain, and accounts can be forcibly confiscated if wrongdoing or unethical behavior is determined to have taken place”, explained Crypto Insider.
Events have recently taken place regarding this arbitration, leading to questions about the EOS system’s effectiveness. Arguments against EOS include censorship and absence of immutability.
Bitcoin Charts Suggest Price Bounce May Be Coming
Bitcoin has dropped significantly over the past few days. CoinDesk reports Bitcoin at a price of $5,188 on Thursday, followed by a slight bounce to $5,580.
CoinDesk mentions the presence of a long-tailed doji daily candle, indicating market uncertainty. This particular candle’s occurrence after such a sell-off could show sellers losing strength.
The Giant Bitcoin Rat Is Back And This Time It’s After Alan Greenspan
Nelson Saiers, artist and former hedge fund manager, intends to set up his massive inflatable Bitcoin rat again, in another effort of protest.
In the next several days, Saiers looks to place his rodent in Washington DC, a few blocks from the Eccles Building near Capitol Hill.
CoinDesk explains the reason for the location. It’s close to “where Alan Greenspan, the Federal Reserve chairman from 1987 to 2006, testified in 2008 that during his time at the central bank he had made a “mistake”.
US SEC Levies ‘First’ Civil Penalties Against Two ICOs For ‘Unregistered’ Securities
The ICO regulatory clarity and news continues. News recently came in about two ICOs seeing heat because they didn’t register their asset sales – even after last years SEC warnings on such matters in July.
The SEC recently came to terms with Paragon Coin Inc., and CarrierEQ Inc. (Airfox).
Penalties mentioned refer to “$250,000 penalties against each company and include undertakings to compensate harmed investors who purchased tokens in the illegal offerings” as well as a few other required actions, according to the SEC press release.
The ‘Wal-Mart Of Venezuela Has Started Accepting Bitcoin
Venezuela has seen numerous headlines this year from its shockingly high inflation. This predicament has led to an increased interest in cryptocurrency options.
Bitcoinist recently reported the acceptance of Bitcoin at one of Venezuela’s department stores.
TRAKI is the name of said store, which allegedly accepts Bitcoin, Litecoin, Ethereum, DASH, and Bitcoin Cash.