Bitcoin price continues to flirt with $2500 mark. Nearly a week after the fork there are no major issues coming up with the Bitcoin network. It is safe to say the fork was a success. Now that SegWit is locked-in, it will only further increase the number of transactions in the coming weeks.
The BTC price continues to hover under $3400, while BCH is down 15% at $287.
Top Stories from the Cryto World
1. SegWit locked-in. Activation two weeks away
Bitcoin’s three year long civil war has come to an end. SegWit has finally locked-in. 2016 blocks (or two weeks) after lock-in, SegWit will activate. That means all full nodes running SegWit-aware code will begin requiring miners to enforce the new Segwit consensus rules.
Although we are still unsure about the pending blocksize increase this fall. Once SegWit is activated, more transactions will be able to fit into each 1 MB block, and congestion on the network will drop. Enhancements such as the lightning network will be able to move forward.
2. BTC-e could issue tokens in a bid to relaunch
According to a Bitcointalk account associated with BTC-e, the exchange will return under a new name and issue a token in order to refund users. Remaining staff at BTC-e have pledged to return despite the crackdown. According to a Bitcointalk account associated with BTC-e, the exchange will return under a new name and issue a token in order to refund users. Remaining staff at BTC-e have pledged to return despite the crackdown.
Notably, in the previous statements from the same account BTC-e managed to get 55% of the funds back. The exchange said the rebranding would begin at the end of August.
The exchange’s staff explained (in a translated statement):
“All liabilities for fiat (USD, EUR, RUR) will be transferred to BTE tokens (1 BTE is 1 USD) at the exchange rate on the date of conversion. Probably, for more operative closing of promissory notes, ICO will be held on BTE tokens. If you have on the balance the amount in [coin], then you will be written off 45% of the balance of coins and credited with 45% of BTE (1 BTE is 1 USD). At the exchange rate on the day of conversion.”
3. Lawmakers want to see Bitcoin become an official currency in Australia
Two Australian senators have moved to ask the country’s central bank to adopt Bitcoin in a “revolutionary leap.” Two senators Jane Hume and Sam Dastyari are leading the effort to make sure Australia is more proactive about both cryptocurrencies and blockchain.
“This will be a revolutionary leap for the Reserve Bank and for Australian financial institutions,” Dastyari said quoted by local news source the Sydney Morning Herald.
“What we want to do here in Parliament is to create the political environment to allow that leap to occur.”