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Upcoming Bitcoin Forks In 2018 Heres What To Watch For

Upcoming Bitcoin Forks In 2018 Heres What To Watch For

Last updated on March 26th, 2018 at 10:57 am Back in August 2017, the first coin created from a Bitcoin fork came into existence: Bitcoin Cash . However, since then, two other coins have also been forked from Bitcoin: Bitcoin Gold (October 2017) and Bitcoin Diamond (November 2017). Most people are still wondering what these forks are, how they happen, and how one can profit from them. Heres my take on all of this. We discussed Bitcoin forks back when Bitcoin Cash was just coming out. If you want the full explanation, you can read the original post. If you want the quick and dirty explanation,keep on reading this post. A fork is basically an alteration of the current Bitcoin code (or protocol). It means someone is changing the rules. Imagine youre playing a game with thousands of people from all around the world and then someone says, Lets change the rules. Normally, for the game to work properly, everyone needs to agree on the rules being changed. If that happens, then the change is implemented and everything continues as normal. If there isnt a large consensusabout the change, two versions of the game will be created (one with the old rules and one with the new rules)in other words, there will be a fork in the game. The same can happen with Bitcoins code. Generally speaking, when a fork happens, youll have an original Bitcoin and a new Bitcoin. For example, Bitcoin Cash changed the block size from 1 MB to 8 MB so more transactions could be processed with each block. There were those who supported this change and switched to a new coin called Bitcoin Cash (or Bcash), and there were those who decided to stay with the original rules and keep using the original Bitcoin. Of course, this is a very simplified explanation of forksnot all forks are created equal. There are sof Continue reading >>

Fork Fail: Us Government Institute Claims Bitcoin Cash Is Original Bitcoin

Fork Fail: Us Government Institute Claims Bitcoin Cash Is Original Bitcoin

Fork Fail: US Government Institute Claims Bitcoin Cash Is Original Bitcoin The US government has become an unlikely if accidental Bitcoin Cash proponent after a report claims Bitcoin itself is a fork. A US government institute has claimed Bitcoin Cash (BCH) is the original Bitcoin while Bitcoin itself (BTC) is a fork in a surprising official research into cryptocurrency. In a document titled Blockchain Technology Overview from the National Institute of Standards and Technology under the US Department of Commerce, authors Dylan Yaga, Peter Mell, Nik Roby and Karen Scarfone claim that technically, the perception that BTC is the genuine version of Bitcoin is incorrect. When SegWit was activated, it caused a hard fork, and all the mining nodes and users who did not want to change started calling the original Bitcoin blockchain Bitcoin Cash (BCC), they write. Technically, Bitcoin is a fork and Bitcoin Cash is the original blockchain. When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash. The document makes for curious reading at a time when the cryptocurrency industry remains awash with propaganda and marketing activities from BCH and BTC representatives alike. Confusion for new users in Bitcoin has increased following Julys hard fork due to some major resources in the industry, notably Roger Vers Bitcoin.com , controversially allying with BCH. More recently, two scandals involving BCH, mainstream news outlet CNBC and major US exchange Coinbase further dented BCHs reputation. The US government document nonetheless appears unfazed by both the events and the nature of Bitcoins hard fork itself, continuing on to provide descriptions of other cryptocurrencies. Litecoin, authors say, is a complement to Bitcoin, while Ethereum Clas Continue reading >>

Coinbase Bug Made It Possible To Reward Yourself With Unlimited Ethereum

Coinbase Bug Made It Possible To Reward Yourself With Unlimited Ethereum

Coinbase bug made it possible to reward yourself with unlimited Ethereum You might have missed a one-off opportunity to become a cryptocurrency multi-billionaire. It appears popular exchange desk Coinbase suffered from a flaw in its Ethereum smart contract setup, which made it possible to reward yourself with a virtually infinite sum of ETH, according to newly surfaced vulnerability report . The jarring vulnerability was discovered by Dutch fintech firm VI Company, which reported the issue to Coinbase back in late December last year. The exchange desk fixed the issue a month later in January and has since rewarded the Dutch company with a $10,000 bounty. By using a smart contract to distribute [ETH] over a set of wallets you can manipulate the account balance of your Coinbase account, the researchers wrote in a HackerOne report submitted to the exchange desk. If [one] wallets transaction in the smart contract fails all transactions before that will be reversed, VI Company explained. But on Coinbase these transactions will not be reversed, meaning a person could add as much Ethereum to their balance as they want. This practically meant that anyone could have abused this glitch to credit their wallets with infinite amounts of Ethereum. The researchers have provided screenshots proving they were able to successfully exploit the glitch. They have also linked to the faulty transaction on Etherscan . VI Company has also since detailed the steps it took to exploit the bug: Setup a smart contract with a few valid Coinbase wallets and [one] final faulty wallet Transfer appropriate funds to smart contract Execute smart contract adding the set amount of ether to the Coinbase wallets without ever actually leaving the smart contract wallet because the complete transaction fails at Continue reading >>

Coinbase Busy Adding Bitcoin Cash And Ethereum Classic Support?

Coinbase Busy Adding Bitcoin Cash And Ethereum Classic Support?

Coinbase Busy Adding Bitcoin Cash and Ethereum Classic Support? Coinbase appears to be adding support for new cryptocurrencies like Bitcoin Cash (BCH) and Ethereum Classic (ETC) to its API list giving their followers hope full support is coming soon. Inclusion for storage or full trading on the worlds most popular cryptocurrency platform would be a huge boost to either token. Join the Bitsonline Telegram channel to get the latest Bitcoin, cryptocurrency, and tech news updates: Coinbase Hints but No Official Support Yet To date, Coinbase hasnt announced any definite support for BCH or ETC, both of which resulted from blockchain forks in more popular cryptocurrencies the company already trades. Recently, however, Coinbase said it would allow users to separate and hold BCH balances if they held bitcoin (BTC) at the time of the hard fork August 1st 2017. Just a few days ago, the companys new president Asiff Hirji hinted at BCH support in a televised interview with CNBC. Bitsonline has also reached out to Coinbase to inquire about new currencies, though to date has not received any response. Coinbase operates in 32 countries and claims to have over 10 million users worldwide. Its the most popular cryptocurrency management and exchange platform in the U.S. Both the images presented below are unconfirmed, and note there has been debate on chat platforms over whether theyre (a) genuine, or (b) new. We tested the settings on one of our own accounts, but could only confirm options for the standard BTC, ETH, and LTC. Eagle-eyed Coinbase users first noticed the Bitcoin Cash (BCH) wallet addition a couple of hours ago. The following image circulated widely on social media: Soon after, a second image appeared this time showing the addition of ETC and suggesting the changes were very Continue reading >>

Ethereum ($eth) - Etherzero Hard Fork - Coin Calendar

Ethereum ($eth) - Etherzero Hard Fork - Coin Calendar

Fork height: 4936270 - Block time: Jan 19th 2018 GMT 19:00-21:00 Fork height: 4936270 Block time: Jan 19th 2018 GMT 19:00-21:00 I have my ETH on a Nano s, so how do I collect the ETZ tokens? Amazingly there appears to be little info available on this. Hello ! if I have eth in Jaxx wllet, its ok to get ETZ. do I have to do something else or will they automatically enter? If I bought the ETZ, the ones I bought the spoils went in automatically? How much ETZ will I get for an ETH. Thanks in advance Hello ! if I have eth in Jaxx wllet, its ok to get ETZ. Do I have to do something else or will they automatically enter? If I bought the ETZ, the ones I bought the spoils went in automatically? How much ETZ will I get for an ETH. Thanks in advance You need to have the ETH on a personal wallet (Ledger Nano, Trezor, KeepKey, MyEtherWallet etc.) otherwise the exchange will receive the ETZ. You can do this temporary and then receive the ETZ on the ETZ blockchain/or wallet. Also dont keep your crypto on an exchange for a long period of time. First of all, no white paper (link says coming soon, been like that forever). Why are you buying something you have no clue. Second of all, its unclear if this is an ICO with new tokens being issued (there is a link to buy into it) or if its a fork (you get ethzero for eth 1:1) or both. If its both, then people buying in get 200 ethzero for 1 eth. People not buying in get 1:1 for their eth. 200 times more for buying it? Smells like scam. Buying in was to enforce support to integrate the ETZ to exchanges. Exchanges ask money and tokens to be placed. Therefor funds need to be collected. So far 500k has been raised. There are no new tokens since its just a copy of the ETH blockchain, so on the new blockchain the main token is ETZ instead of ETH. How Continue reading >>

Now Official: Bitcoin Cash Listed On Coinbase, Price Skyrockets!

Now Official: Bitcoin Cash Listed On Coinbase, Price Skyrockets!

Now Official: Bitcoin Cash Listed on Coinbase, Price Skyrockets! Were excited to announce that customers will be able to buy, sell, send and receive Bitcoin Cash on Coinbase. You can read more about Bitcoin Cash on Coinbase FAQ page . Sends and receives are available immediately.Buys and sells will be available to all customers once there is sufficient liquidity on GDAX . We anticipate that this will take a few hours. Coinbase operates by the principle that our customers should benefit to the greatest extent possible from forks or other networks events. This is essential in our mission to make Coinbase the most trusted, safe, and easy-to-use digital currency exchange. Bitcoin Cash was created by a fork on August 1st, 2017. All customers who held a Bitcoin balance on Coinbase at the time of the fork will now see an equal balance of Bitcoin Cash available in their Coinbase account. Your Bitcoin Cash balance will reflect your Bitcoin balance at the time of the Bitcoin Cash Fork, which occurred at 13:20 UTC, August 1, 2017. You can read more about what a bitcoin fork is here and our previous update on Bitcoin Cash here . We have been monitoring the Bitcoin Cash network over the last few months and have decided to enable full support including the ability to buy, sell, send and receive. Factors we considered include developer and community support, security, stability, market price and trading volume. We will abbreviate Bitcoin Cash as BCH on our platform. Customers will be able to buy and sell Bitcoin Cash using all of our supported fiat currencies: USD, EUR, GBP, CAD, AUD and SGD. You can learn more about Bitcoin Cash here . Continue reading >>

2018 To Have More Hard Forks Than Ever Before What To Expect

2018 To Have More Hard Forks Than Ever Before What To Expect

Depending on where you stand when it comes to potentially contentious hard forks, and also what currencies you hold, hard forks can be either a blessing or a curse. Anyone who held bitcoin in early 2017 ended up with an equal amount of bitcoin cash which has proven to be quite valuable. They would have also become holders of bitcoin gold , bitcoin diamond , bitcoin clashic, and several other bitcoin forks that occurred in 2017. While this may seem like free money, it can also potentially create an unwanted tax liability. With 2018 now upon us, there are already dozens of forks that are set to occur and create additional blockchain assets. Whether we want them or not. Some forks dont intend to create new currency, but instead are intended to resolve issues or to implement updates.One such update is the impending Ethereum Casper , which will transition Ethereum from purely proof of work to proof of stake. Another point of difficulty with hard forks is how are the newly created assets claimed by someone who owned equivalent assets on the original chain? This has caused a large amount of confusion, and has even resulted in the loss of assets due to people not understanding how to get their forked assets. For example, a not insignificant number of people were scammed for theirprivate keys when visiting a phishing site that claimed to allow them to check on the balance of, or get access to, their bitcoin gold. Therefore it is highly recommended that those wishing to access their forked assets do so in a manner that is in accordance with a well respected and recommended guide. They should also know that under no circumstances should they give out their private keys. Contentious Bitcoin Cash Fork. Image via Fotolia The superstar fork of 2017 was undoubtedly bitcoin cash . Prom Continue reading >>

Ask Hn: I Have Bitcoin In Coinbase, What Should I Do Before The Forks? | Hacker News

Ask Hn: I Have Bitcoin In Coinbase, What Should I Do Before The Forks? | Hacker News

Ask HN: I have Bitcoin in Coinbase, what should I do before the forks? You don't have bitcoin on Coinbase you have an entry in a database that says Coinbase owes you X amount of bitcoins. Yes it's a little more complicated than that but the analogy still stands. Coinbase is a hosted wallet with no key control meaning that you do not have any control over the transactions of that wallet. The other aspect of Coinbase is a nice interface for the GDAX exchange with about double the fees. In either case if you care about the security of your investment create an wallet transfer the bitcoin into it and keep it offline. For the fork you would like to use a node that is compatible with the proposal you support, if you have no opinions I suggest just accept the current leading consensus and be done with it. What is a good way to create a personal bitcoin wallet? p.s. I studied computer science, am reasonably fluent in computer security, but not a crypto or bitcoin expert. I cannot find it on-line - but I have received a following message from Coinbase (): The User Activated Hard Fork (UAHF) is a proposal to increase the Bitcoin block size scheduled to activate on August 1. The UAHF is incompatible with the current Bitcoin ruleset and will create a separate blockchain. Should UAHF activate on August 1, Coinbase will not support the new blockchain or its associated coin. The User Activated Soft Fork (UASF) is a proposal to adopt Segregated Witness on the Bitcoin blockchain and could result in network instability. It is scheduled to activate at the same time as the UAHF. To ensure the safety of customers funds, we will temporarily suspend bitcoin deposits, withdrawals, and buy/sell starting approximately 4 hours before activation of either fork. If you curre Continue reading >>

Exclusive: How Coinbase And Other Exchanges Will Handle The Segwit2x Hardfork

Exclusive: How Coinbase And Other Exchanges Will Handle The Segwit2x Hardfork

An exclusive with Charlie Lee, creator of Litecoin By Aziz, Founder of Master the Crypto No responses This is an exclusive opinion editorial from Charlie Lee, the creator of Litecoin and a prominent figure in the cryptocurrency community, on the possible actions that will be undertaken by Coinbase and various exchanges with regards to the Segwit2x Hardfork in November. Ive been asked multiple times how I think Coinbase (and other exchanges ) will handle the Segwit2x hardfork in November. For background, although Im no longer working at Coinbase, I was previously Director of Engineer at Coinbase and led the GDAX team, and I still give Coinbase advice. This is how I think this 2x hardfork will play out. (See also: Guide to Forks: Everything You Need to Know About Forks, Hard Fork and Soft Fork ) With the ETC and BCH hardforks, it was clear that those 2 coins will be the minority fork, so it was safe to use a wait-and-see approach. So Coinbase didnt support those forks initially. And only if there was traction on those forks, would Coinbase spend the time and resources to support those forks and let people access their coins on the minority chain. That is what Coinbase did with both ETC and BCH hard forks. (See also: Whats the Difference Between Ethereum and Ethereum Classic? and Bitcoins Civil War: How and Why?) For the 2x hardfork, things are a bit more tricky. 2x is supposed to be an upgrade to the Bitcoin protocol. What that means is that ideally, everyone should upgrade to the 2x code before the hardfork and the hardfork will just happen and everyone would just switch to the new chain and no one would be on the old chain. This only works ifeveryonedid this. Because this is a hardfork, if not everyone upgrades, then there will be 2 chains. The supporters of 2x and the Continue reading >>

How To Buy Bitcoin, Ethereum At Their Current Lows On Your Iphone With Coinbase

How To Buy Bitcoin, Ethereum At Their Current Lows On Your Iphone With Coinbase

How to buy Bitcoin, Ethereum at their current lows on your iPhone with Coinbase Wednesday, January 17, 2018, 12:13 pm PT (03:13 pm ET) Cryptocurrency volatility has generated sensationalized headlines over the past year, with cyclical valuation drops and surges that make even Apple's stock price look relaxed in comparison. Here's a look at how cryptocurrencies such as Bitcoin and Ethereum's "Ether" work, and how you can get involved in trading them at their current lows with Coinbase, a popular and easy-to-use iOS app. The concept of cryptocurrencies is relatively simple: rather than being a fiat currency tied to the monetary policy of a central bank of the country that issues it (like the EU Euro or US Dollar), a cryptocurrency such as Bitcoin or Ether is decentralized, and its valuation comes from whatever the market is willing to pay for it. There is no intermediary bank in crypto transactions; instead, transactions that involve buying or selling crypto in exchange for another currency or for goods and services occur directly between users and are recorded in a "blockchain," a public ledger that exists as a distributed database. Essentially, a crypto "coin" or (fraction of a coin) is a number sent to the anonymous address of a user. Transactions are effectively an encrypted message that delivers the identifying number of the coin encrypted using the public key of the buyer and a secret random private key of the transaction. This transaction is recorded in the blockchain, allowing the buyer to later sell their received crypto by using the correct private key (encryption secret) and using it to transfer the crypto to a new buyer using that buyer's public key. Coinbase recently peaked as the most popular app in the iOS App Store Algorithms can verify that the coin hasn Continue reading >>

Bitcoin: Coinbase Users Get 'cash' Windfall

Bitcoin: Coinbase Users Get 'cash' Windfall

Coinbase, the most popular U.S. cryptocurrency exchange, released Bitcoin Casha new currency created this summer and currently worth around $3,000into many customer accounts on Tuesday evening. The decision came as a surprise since Coinbase had previously said it would deliver the Bitcoin Cash, which is owed to anyone who held bitcoin on or before August, early in 2018. Bitcoin Cash becomes the fourth cryptocurrency available to trade on Coinbase, along with Bitcoin, Ethereum, and Litecoin . The move caused the price of bitcoin, which started the day around $19,000, to drop sharply. Shortly after Coinbase announced the news, the price fell below $16,000 but has since risen closer to $17,000 according to Coindesk . Bitcoin Cash, meanwhile, has soared nearly 50% in the last 24 hours, from around $2,100 to a brief high of around $3,600, and is now the third most valuable digital currency after bitcoin and Ethereum. Here is what the announcement looked like on Coinbase: While the arrival of Bitcoin Cash amounts to a windfall for Coinbase customer, it also has the potential to create a nightmare when it comes to dealing with the IRS. As Fortune explained last month, some lawyers think Bitcoin Cash could amount to a taxable event like a dividend while others believe the tax obligation will only arise when they sell it. The creation of Bitcoin Cash took place this summer following a bitter schism between bitcoin insiders. Its essentially a clone of the original currency, which was created in 2009, but with blocks that are twice are as big. (Blocks are the units that make up a blockchain, a type of software that contain a permanent ledger of transactions). When it arrived, Bitcoin Cash replicated every record found on the original bitcoin blockchain including the existing dist Continue reading >>

How To Receive Additional Coins When Ethereum Forks Next Month

How To Receive Additional Coins When Ethereum Forks Next Month

It is unlikely that Ethereum will have two valid chains, as the community is waiting for those updates and there is not much opposition to this proposed hard fork. This means that we might have a hard fork to which all nodes within the network switches and we will avoid chain split. Most likely this is what will happen as Metropolis update was planned from the beginning and there is no reasons not to switch to. Also, there is a huge drawback to stay on the old chain: if a miner stays on the old chain, the Ice Age (built in block mining time increase) will force the node owner to switch and start using new software anyway because block times become way too long to be useful. There were similar rumours with Bitcoin, but now we have Bitcoin cash. Therefore, it is hard to predict what will actually happen. Firstly a hard fork is a software upgrade that introduces a new rule to the network that isn't compatible with the older software, so miners will need to switch over to the new upgraded version of Ethereum, a hard fork does not guarantee a brand new currency unless a substantial amount of miners continue to mine the old blockchain. There's already been a couple of hard-forks within Ethereum. When a hard fork happens, there's always the possibility of a new currency emerging if the chain splits due to disputes like the emergence of ETC and Bitcoin Cash with the Bitcoin blockchain. From what I understand, it's fairly certain that this fork will not result in a third Ethereum currency. Metropolis has been planned and there's no big controversy around it, not enough for miners to keep mining the old chain and split from the Ethereum blockchain. However if there was to be any major disagreements in the future causing a chain split then the only way you can receive the new coi Continue reading >>

Coinbase Halts Bitcoin Cash Transactions Amidst Accusations Of Insider Trading

Coinbase Halts Bitcoin Cash Transactions Amidst Accusations Of Insider Trading

Coinbase halts Bitcoin Cash transactions amidst accusations of insider trading Coinbase has launched an internal probe to identify whether its employees engaged in insider trading of Bitcoin Cash shortly before the cryptocurrency was officially introduced to the exchange yesterday. Increased trading led to a spike in Bitcoin Cashs valuation, and just four hours after its introduction, Coinbase suspended trading of the digital currency. Coinbases ethics policy prevents employees from trading on material non-public information, such as when a new asset will be added to our platform, wrote Coinbase CEO Brian Armstrong in a Medium post today. That includes sharing that information with friends and family. In the hours before Coinbase added Bitcoin Cash to its exchange, the price of the cryptocurrency had already begun to rise. The price for a single Bitcoin Cash coin soared past $8,000, or more than double its price a day earlier. Coinbase maintains a strict trading policy and internal guidelines for employees. Coinbase employees have been prohibited from trading in Bitcoin Cash for several weeks. Armstrong warned, If we find evidence of any employee or contractor violating our policies directly or indirectly I will not hesitate to terminate the employee immediately and take appropriate legal action. Coinbases swift shutdown of Bitcoin Cash support came in the midst of many on Twitter raising suspicions last night about the unusual spike of Bitcoin Cash prices. I dont care how you slice it, this is INSIDER TRADING! Someone with alot of Bitcoin knew @coinbase would add Bitcoin Cash BCH and took one BIG chunk of profit from the #flippening . Whoever you are you are your making crypto look like wall st. Shame on you. pic.twitter.com/g9YU9jGm0T Whalepool (@whalepool) December Continue reading >>

Coinbase | Eth Byzantium Fork Faq

Coinbase | Eth Byzantium Fork Faq

This is a planned upgrade to the Ethereum network. We do not expect any impact to customers. The upgrade to the Ethereum network --codenamed Metropolis--is split into two stages. These two stages will be released one after the other: Byzantium and Constantinople. Byzantium will be released with block # 4,370,000, which is estimated to occur between 5:00 a.m. and 6:00 a.m. PT on Monday, October 16, 2017. What technical changes are included in Byzantium? Improvements to blockchain logic for security (uncle blocks) Additional command options for smart contracts As the Ethereum network grows, the development team periodically adds new features that make the underlying technology more secure and useful. These upgrades happen through the process of whats called a "software fork. Computers running the Ethereum software update their copy of the software to the new version in order to take advantage of the new features. The Byzantium release is part of a schedule of updates that have been planned for a long time. How will this affect me as a Coinbase/GDAX customer? The day before the fork and for a short time after, we will temporarily increase the number of confirmations required for incoming ETH transactions. Incoming ETH transactions will remain pending longer than normal before they become available in your account. Outgoing ETH transactions will not be affected. Continue reading >>

Should You Leave Coinbase? Some Bitcoiners Say Yes

Should You Leave Coinbase? Some Bitcoiners Say Yes

Should You Leave Coinbase? Some Bitcoiners Say Yes By Joe Liebkind | Updated February 16, 2018 10:20 AM EST Bitcoin was originally conceived as a decentralized form of currency and a way to reduce the need for trust in transactions.However, as Haseeb Qureshi eloquentlysaid, The key innovation of cryptocurrencies is that they decentralize trust.They do not eliminate it. Trust extends well past the coin itself, and the young cryptocurrency environment is fraught with many challenges that complicate the issue. Foremost amongthese thorny issues is the role that exchanges play in the process.For thosewho are actively buying, selling, and speculating in cryptocurrency, trust is paramount.However, high-profile hacks and frequent exchange outages make thisa difficult task, so much so that some of the biggest names in crypto face a huge credibility problem. Coinbase, one of the largest wallet and exchange platforms for cryptocurrency, currently finds itself in the eye of storm. On February 15, 2018, Coinbase confirmed in a statement on their Medium blog that it had massively overcharged the accounts of some users after complaints began to pour in on Reddit, Twitter, and other online forums. The platform said the issue was related to a recent change in the way credit cards code purchases of digital currency andthat all accidental charges would be refunded. Coinbase faced the same issue in May of 2016. Recent events like these,combined with the relative infancy of this new trading paradigm,have quickly soured sentiment amongmany bitcoin loyalists. Although a popular destination for newer entrants and investors, the more tightly knit community of active traders is spurning the brand after several more notable debacles. Apart from a recently opened investigation into insider tradin Continue reading >>

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