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Bitcoin Cash (BCH) cryptocurrency, which can be used on the Internet or converted to your local money.
The first halving took place on the Bitcoin SV cryptocurrency network
A year and a half after the creation of the Bitcoin SV cryptocurrency that night, the first halving took place on its network. Block 630000, which activated the reward reduction from 12.5 BSV to 6.25 BSV, was mined by the mining pool of the Japanese financial holding SBI Group on April 10 at 03:48 Moscow time.
During the last day, the price of BSV fell by more than 10% and at the time of publication is $ 196.53. The price of Bitcoin Cash, halving of which took place two days earlier, fell from $ 265 to $ 240. Over the same period, most altcoins lost about 5%.
The amount of computing power in the BSV network decreased by 25% from a peak of about 4 EH / s in early February. Then the cryptocurrency was trading at $ 370, later reaching a local minimum of $ 110.
Bitcoin SV appeared on November 15, 2018 and is a hard fork of the Bitcoin Cash chain, which, in turn, separated from the Bitcoin blockchain. Both forks share the emission limit of 21 million coins with the parent cryptocurrency and have many other similar characteristics, including halving laid down at the protocol level.
Mastercard, Sony and other corporations patent blockchain technology in China
By the end of the first quarter of 2020, 35 foreign companies had filed applications for registering blockchain-related patents in China. According to the Chinese newspaper Global Times, companies, including Mastercard, Sony, Intel, Microsoft, Oracle, Nokia and others, have registered a total of 212 patents.
In most cases, foreign companies register patents in China, because this contributes to their development in the local market. However, none of these organizations conducts blockchain-related business in China. Most companies explain the filing of applications by the desire to accumulate an extensive technological base, but perhaps there is another reason.
The People's Bank of China (PBoC) - a structure that performs the functions of a central bank in the country - has been developing its own cryptocurrency (CBDC) since 2014. The regulator has already created a working prototype of CBDC and even started testing the electronic payment system in digital currency. In parallel, PBoC resolves issues related to the distribution of CBDC, and prepares the necessary bills for its launch.
Distribution of CBDC in China is supposedly engaged in WeChat and Alipay. The latter has already registered a series of patents related to equipment necessary for the implementation of CBDC transactions, control of digital currency accounts, anonymous transaction processing system and so on.
Bitcoin volatility reaches six-month high in March and now October we are expecting such history repeating higher
According to the results of March 2020, the indicator of bitcoin volatility soared to 167.2%, which became the highest indicator since January 2014.
The 60-day volatility of the first cryptocurrency jumped to 122.9%, according to a study by analysts at Blockforce Capital. The last time such a high range of valuable BTC fluctuations was observed in February 2014.
Recall that in mid-March, the cryptocurrency market survived the so-called “Black Thursday”. In just a few days, Bitcoin crashed to an annual low (from $ 9,200 to $ 3,867).
Then the first cryptocurrency regained its position in early April and even approached $ 8,000. However, at the end of this week, the rollback resumed, and BTC began testing values below $ 7000.
Gold, which many analysts often compare with bitcoin, also depreciated in March, but its losses were less.
NEM Ventures analyst Nicholas Pelekanos emphasized:
From the beginning of February until mid-March, we observed one of the most severe falls in the history of stock markets, commodities, fiat currencies and digital assets.
According to Binance US CEO Catherine Coley, like other Bitcoin assets, she was shocked by a coronavirus pandemic.
All markets felt the negative impact of COVID-19, as business activity was at a minimum, which led to the collapse of stock indicators and a drop in the value of cryptocurrencies.
An economist at Monash University spoke about the immediate prospects for bitcoin
According to academician of Monash University John Waz, the future of bitcoin depends on the reaction of the governments of developed countries to the current economic crisis.
The analyst believes that the massive introduction of BTC and other cryptocurrencies is possible if these assets begin to be perceived as full-fledged payment instruments.
The March drop in bitcoin was the result of a liquidity crisis in all traditional markets. Affected by the dependence of the cryptosphere on the dynamics of the leading indicators of business activity. In March, the correlation of BTC prices with US stock indices peaked.
John Waz stressed that when all markets began to fall, only an asset such as gold was perceived as the safest instrument. That is why the precious metal suffered much smaller losses compared to the traditional and cryptocurrency markets.
According to him, the main advantage of BTC is the fact that no one controls this asset. Cryptocurrency does not have banks and governments, and therefore, in the near future, this tool will be the most attractive alternative to the form of money for people.
If the authorities continue to ignore the cryptosphere, then this industry will not only compete with fiat money, but will also force this tool out of the market.