BTC Review: BCH hardfork Coinbase Visa status Man loses $65m BTC

Fibo Quantum

Here are the major events happening in the crypto-verse, the news you should be aware of: price action, Binance denied by Malta, more trouble for Bitcoin Cash, MT. Gox victims get new offer, and much more. Read on to find the latest and don’t lose track of this ultra fast-moving industry.

Bitcoin, Ethereum price action

This past week, Bitcoin maintained the status quo. It traded horizontally in a band between $10,000-ish and $9,500-ish for most of the time and went above $10,000 for 24 hours on February 19. 

Daily trading volume is climbing higher and ‘experts’ say the coin is building momentum for a massive bull run. 

These experts are always positive. Only time will tell.

Ethereum keeps consolidating on previous gains, hitting a high of $280 on the 19th of the month. It started the week at $250 and is ending it at $270. 

That’s progress.

BCH faces potential hardfork over tax issue

The proposed Bitcoin Cash mining tax, which a lot of miners are against, could cause a chain split. 

The 5% tax is set to come into effect in May but faces oppositionfrom Bitcoin Unlimited, a client whose ‘Chief Scientist’ gets paid$100,000 a year to “write articles to explain BU technology and initiatives, collaborate with other developers, carry out experiments, and organize workshops.”

Bitcoin Cash Unlimited? 

Mt.

Gox victims get new compensation offer 

Fortress, the New York firm handling the Mt. Gox mess, has upped its compensation price for those who lost their coins in the 2014 hack. 

Fortress is now offering creditors $1,300for every Bitcoin, an 88% increase from the $755 offered in December, on a ‘first come first serve basis’. Last March, the offer was $600.

Bitcoin is worth around $10,000 today.  

Binance denied by Malta government

Binance, the world’s largest crypto exchange, doesn’t have the license or permission to operate in Malta, the Malta government has announced

This is contrary to popular belief that Binance is based in Malta. 

Binance announced in 2018 that it was moving to Malta after clashing with regulators in Japan.

Read more here

Decentraland is live on Ethereum

Decentraland, a 2017 24m ICO is finally live on Ethereum.

Users can now visit the blockchain-backed ‘meta life’, an online universe. You need crypto to own land or claim an avatar but exploration is free. 

Coinbase acquires Visa Principal Membership status

Coinbase can now issue Bitcoin credit cards directly after gaining principal membership statusfrom Visa. 

Bitcoin credit cards companies usually get shut down after a few months. This development reduces the likelihood of that happening for Coinbase. It also means Coinbase’s crypto-enabled cards will involve better customer experience, “making it easier to spend cryptocurrency in everyday situations.” 

Good news for crypto adoption. Right? Not everyone agrees. 

Man loses $65m BTC to carelessness 

This jailed Irish drug lord reportedly lost access to $65 millionworth of crypto. He divided the money into 12 places (wrote the private keys on paper) and kept it inside the aluminum cap of the case containing his rod.  He was jailed in 2017 and when he returned the item was nowhere to be found. 

I don’t know how to feel about this one.

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