Here are the most important news of 16th November 2018:
Crypto.com – Greenlight From Authorities To Launch Pre-paid Metal VISA Cards In USA
Earlier this day, Crypto.com receive approval from authorities to create & release their pre-paid metal VISA cards. The approval came earlier as expected, giving Crypto.com the opportunity to accelerate their main goal of “Cryptocurrency in Every WalletTM”. Crypto.com is not accepted yet in Europe and most of the Asian countries, but they plan to do it in the short future. The announcement was made via Twitter:
Coming to America! @cryptocom is excited to announce that our MCO Visa Card has received the green light for launch in the United States. Another step towards our mission of accelerating the world’s transition to #cryptocurrency. Find out more: https://t.co/93SDxFsI39 pic.twitter.com/eCInGKRq3r
— Crypto.com (@cryptocom) November 16, 2018
This news lead to a 10%+ surge in MCO prices, followed by a decline under the $3.80 region. Even if the price decline, its still up compare to the $3.60 region where it was before the news. And most importantly, MCO grew despite the current bear market. The news came to life thanks to Metropolitan Commercial Bank and Crypto.com ( affiliated through Foris Inc.).There isn’t a current date for the U.S. card release date, this will be announced later. More details can be found here.
Ripple (XRP) Takes #2 From Ethereum (ETH)
Even though the cryptocurrency market lost about $25 billion in value over the past 48 hours, Ripple was the least affected one. On this bear market , Ripple decreased from $0.50 to a minimum of $0.43 for a few minutes but bounced back over the $0.45 value soon. At the moment of writing, XRP have a value of $0.47 in USD and a 8417 Satoshi in BTC – a significant increase from the 7127 Satoshi value which Ripple started the month with. This might by an effect of the recent Coinbase announcement that Ripple was now a part of Coinbase Custody – which probably led investors into thinking there’s a short time until Ripple (XRP) will also be accepted on Coinbase Pro.
Moreover, as Zerocrypted reported, Ripple established a new partnership with CIMB Group – the fifth largest bank in the Southeast Asian Nations (ASEAN). CIMB is active in 15 countries, it have over 850 branches and more than 13.5 million customers. Right now, Ripple’s price is above the 50 EMA and might see a resistance level at the $0.49 value. Its nice to see that some cryptocurrencies are already decoupling themselves from Bitcoin – and have their own evolution despite Bitcoin’s up and downs. More details about Ripple can be found on Ripple Insights
The Biggest Department Store In Venezuela Is Now Accepting Cryptocurrencies
In tough times, people need to make tough decisions. As crypto was becoming more and more popular in Venezuela, TRAKI had to do something about it so they won’t lose their clients and improve the business. Therefore, the chain has decided to accept cryptocurrencies. Right now, TRAKI accepts:
- Bitcoin (BTC)
- Dash (DASH)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
The news were verified by a Reddit user called ImVito – which purchased 884 school supplies and clothing items for $260 – paid in BTC. The money were donated by the Reddit community and all the items will be helping the country’s kids in need. Venezuela is the countries that recently understood the power of cryptocurrencies, as the country is going through an inflation that will probably hit $1 million percent by the end of 2018. More details about this and how you can help Venezuelean people can be found on the ImVito’s Reddit post.
Brave Announce the Launch of SpeedReader : A Fast & Private Reader Mode for the Web
In a recent blog post, Brave launched SpeedReader – a Brave innovative approach to reader mode. Their new technology is useful on 22% of the web pages that are active right now. Moreover, its even better to use for forums and other used-shared content types of websites – such as Twitter or Reddit.
SpeedReader improve the reader more both aesthetically and by its improved performances :
- Speedups ranging between 20x to 27
- Bandwidth savings on the order of 84x
- Memory reduction of 2.4x
- Improve privacy related benefits
You can check a preview of SpeedReader and how it works on a web page below:
To check if a page can be displayed in a SpeedReader mode, Brave use a machine learning classifier. In Brave’s test, the machine learning classifier detects whether a page can or cannot be displayed in a reader mode with a 91% accuracy. More details about this can be found on Brave’s SpeedReader page.
Bitcoin Mining Profitability – It’s currently 2.34x More Profitable to Mine BTC than BCH
Apparently, the latest Bitcoin Cash Hard Fork didn’t helped the community at all. A few months ago, we could hear Roger Ver explaining how its more profitable to mine BCH instead of BTC. And he was probably right. But right now, the situation is a bit different. As Bitcoin Cash forked into two separate cryptocurrencies, there will be a fight for the one that its going to have the Bitcoin Cash name. A fight that will be paved with people paying miners for their hashrate.
The BCHABC vs BCHSV is probably the war that destroyed Bitcoin Cash as we know it. The hashrate that its currently used to keep the blockchains alive can easily be used to mine more profitable currencies or secure the BTC network even more. But this fight its not over yet. The good thing is, Bitcoin is now 2.34 times more profitable to mine than either of the forked BCH cryptocurrnecies. i0X reddit user already noticed this, and created a post on /r/cryptocurrency.
The Bitcoin mining profitability compared to the BCH one grew almost two times, compared to the 7 day average rate of 1.19x. More details about this can be found on fork.lol.
The Hashwar of Bitcoin Cash
The latest hard fork of Bitcoin Cash feels like a situation with no good ending. The Bitcoin Cash hard fork started yesterday, 15th November 2018, at 1:00 PM EST. The first block, was mined by Bitcoin.com at the block height of 556767 for the BItcoin Cash ABC blockchain. The Bitcoin Cash SV had their first block mined around 1:22 EST, mined by Mempool.
It now appears that the majority of BCH enthusiasts followed the BCH ABC blockchain, lead by Roger Ver. Right now, Bitcoin Cash ABC is 23 blocks ahead of Bitcoin Cash SV, according to Coin.dance. The situation is not perfect at all, as Craig Wright threatened to create a 51% attack on Bitcoin Cash ABC blockchain. This won’t be great news at all for the Bitcoin Cash ABC miners, as a 51% attack can result in double spending.
This war is probably the one that damaged the Bitcoin Cash & the cryptocurrency community in general. And this war will probably have no winners. The situation is perfectly explained over a tweet.
Which one will be the future Bitcoin Cash? Who’s side are you on, and why? Leave your feedback in the comments below.
Other Important News
If you’ve missed yesterday’s news, you can find them here: Daily Cryptocurrency News – 15th November 2018