Cryptocurrency market cap lost ~$25B value today because of the Bitcoin Cash fork scheduled for tomorrow, but Tether might also have been the cause. Then again, market cap might not be the best measure of the asset class; alternative metrics are emerging.
When the Fork Forks: What You Need to Know as Bitcoin Cash Goes to War
"Around 16:40 UTC tomorrow, November 15, 2018, the Bitcoin Cash network is set to undergo another hard fork upgrade. But contention about this upgrade has left the Bitcoin Cash ecosystem divided, which could once again lead to a split into multiple projects and coins."
The "hashwar" summarized. 👇— Satoshi's Di-Vision (@StopAndDecrypt) November 14, 2018
1: Bitcoin Cash has been subsidized by Jihan/Bitmain since day one. Over time this subsidization grew, but the share in who subsidized it was split between Jihan and (what came to be obvious later on) Craig/Calvin/ Coingeek (and now SVPool). pic.twitter.com/qaozTY64gj
ABC vs BSV Hash War (Part III) — The war of the Hash power
"7. After the war, if one of the parties concedes defeat, the war ends and the surviving chain will become BCH. If the failing party does not concede defeat (CSW engage in Guerilla war or ABC switches to POW+POS), BCH will split into BCH and BSV."
Tether—not Bitcoin Cash—said to be source of crypto market selloff
"Essentially, this means that large traders looking to take a sizeable amount of fiat currencies out of the exchange quickly would be forced to pay 3 percent for it. But on Bitfinex, what trades at “USD” is really “USDT”—in other words, tether. As Modern Consensus reported in the past, there have been difficulties for some bigger traders to redeem substantial amounts of tether for U.S. dollars."
Crypto Market Cap: An In-Depth Review & Survey Of Emerging Alternatives
"Any full look at the concept of crypto market cap is bound to conclude that it is an imperfect measure at best, and genuinely distracting at worst. In the short term, it seems unlikely that we’ll see the industry move to an alternative. That said, the emergence of alternatives and speed with which they’re being considered and even integrated into coin ranking products is extremely promising for this young asset class."
New York Department of Financial Services Issues 14th BitLicense
"Today, November 14, 2018, the New York State Department of Financial Services (DFS) announced that it has approved the application of NYDIG Execution LLC, a subsidiary of NYDIG LLC, for a virtual currency license and a money transmission license. The approval of this so-called “BitLicense” or “Virtual Currency License” application is the 14th of its kind and is required under New York State law in order for a company to engage in “any Virtual Currency Business Activity.”"
"Going forward, we'll likely continue to see improvements to the mitigation techniques, both to improve their performance and make them more effective. It's unlikely that we've seen the last of the speculative execution attacks, but this systematic analysis should at least mean that all the low-hanging fruit has been discovered."
Delay, Deny and Deflect: How Facebook’s Leaders Fought Through Crisis
"Inside the room, they labored to prepare her for the hearing. They had assembled a binder-size briefing book, covering virtually every issue she might be questioned about, and had hired a former White House lawyer who specialized in training corporate executives. Facebook lobbyists had already worked the Intelligence Committee hard, asking that lawmakers refrain from questioning Ms. Sandberg about privacy issues, Cambridge Analytica and censorship. The argument was persuasive with Mr. Burr, who was determined to avoid a circuslike atmosphere. A day before the hearing, he issued a stern warning to all committee members to stick to the topic of election interference."