“Bitcoin is Punk Rock. You can’t stop it,” says Andreas M. Antonopoulos, the protagonist in ‘Bitcoin: The End of Money As We Know It’. However, the Indian government, unwilling to learn and enact a cryptocurrency bill, has made sure that it is not ‘on the rocks’ in India. In Cryptocurrency this week, while RBI Executive Director S Ganesh clarified that Bitcoin will not be used against payments and settlements, the most debated Segwit2x hard-fork of Bitcoin blockchain was finally averted, thanks to the lobbying effort by Bitcoin.org. From an all-time high peak $7,721 to currently trading at $6,652, the SegWit2x fiasco has momentarily paused the Bitcoin price rise.
As reported last week, the dark web of Bitcoin and other cryptocurrencies is becoming stronger amid Bitcoin’s reckoning, owing to the lack of regulations worldwide.
In other news, Hive Blockchain Technologies, a Canadian Firm is on a dream run. The company’s shares are up by 3,690%. However, Nvidia’s cryptocurrency revenue has dropped by more than half from the prior quarter.
Let’s take a look at the recent developments in the world of Cryptocurrency!
The SegWit2x Saga: The Hard-Fork That Was Not!
The chief architect of SegWit2x hard-fork, Mike Belshe has announced the suspension of SegWit2x (Bitcoin2x or B2X) hard-fork scheduled on November 16, 2017, giving much-needed relief to the Bitcoin enthusiasts. The decision was taken after NYA signatories who had earlier vouched for the SegWit2x hard-fork pulled back their support, and the largest Bitcoin exchange Bitfinex also decided not to use Bitgo as their core wallet.