PoW Bitcoin – 7/27/2017

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Sources: PricesLocalBitcoinsBlockchain VolumeDifficulty, Mempool, Gold, DXYSPX500

SEC Says Blockchain Tokens May Be Securities

Here the SEC announces that they are looking to ICOs and that some may be considered securities. I don’t like this, but it was extremely easy to predict. This is a problem with a blockchain all the things model. Most things will need to be centralized (and then why use a blockchain!!!!!!). Centralized services are vulnerable to regulatory attack.

The bigger part of this announcement is that exchanges are going to have to decide if they carry these things. Even Ethereum isn’t safe. Investors aren’t supposed to resell these tokens either. So whales might be vulnerable, they definitely will think twice before buying any more securities like this. Shapeshift’s offerings were drastically cut after this.

“Satoshi Vision” Cultists

I’m noticing a huge push by the cultists that have been trying to hold back bitcoin and segwit. They constantly use the phrase “Satoshi’s vision” or “bitcoin as originally designed”. They are cultists, with a good vs evil paradigm. They are trying to tell you that bitcoin was created perfectly, by an unerring God. Any attempt to use science to better bitcoin is futile and against God’s will. Of course, out of the other side of their mouth they’ll tell you a hard fork is what we should do. They are interpreting things the way they want to.

BTC-e Troubles

BTC-e has always been run very well. It’s one of the oldest exchanges and has one of the best services records in the industry, despite being run by anonymous people. That’s why it was such a big deal when it went offline two days ago.

Then yesterday WizSec, a group investigating the MtGox hack posted an update, saying their chief suspect in the MtGox case was arrested in Greece. They broke down the connect between this guy and all sorts of major hacks of exchanges over the past few years. Saying that BTC-e played a large role in laundering the funds after the hacks.



Music by Joakim Karud

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