Bitcoin is unstoppable. This week its price surged to $5800. Billionaire and Wall Street giant Mike Novogratz estimates that the price will hit $10,000 in next few months. With over 17 Mn Bitcoins mined so far, leading cryptocurrency Bitcoin-wealth has grown to $88 Bn worldwide, and is beyond the powers of regulators and governments. As can be seen in China, the ban on Bitcoin will only encourage underground economy; but, the trading will hardly stop. Similar is the case with Ethereum. Despite the upcoming hard-fork, the price is surging to an all-time high.\r\n\r\nLet\u2019s take a look at the recent developments from the world of cryptocurrency!\r\nVizag Blockchain Conference: Australia-based Startups Coinlancer And ABCDe One Coin Launch New Cryptocurrencies\r\nDeveloped on Ethereum platform, Coinlancer provides pre-mined tokens to help freelancers and clients connect remotely through smart contracts. The platform connects freelancers and clients; however, unlike other platforms which charge 10-20% of every freelancing assignments, the platform charges one time 3% fee for all future jobs.\r\n\r\nThe infamous One Coin is back. Australian cryptocurrency startup ABCDe has relaunched One Coins. Speaking to Inc42, ABCDe President Nuri Amir said, \u201cThe new One Coins are very much based on decentralized blockchain platform unlike the previous One Coins.\u201d Speaking about the how different One Coin is, she said, \u201cOne Coins are significantly different from Bitcoins at three parameters. We have decreased the block confirmation time from 10 minutes to one minute. The block size has also been increased from 1MB (Bitcoin block size) to 9 MB. In case of One Coins, we have employed both Proof-Of-Work (POW) and Proof-Of-Stake algorithms along with CPU and GPU mining platforms to ensure everyone can mine profit from One Coin.\u201d\r\n\r\nOn April 30, 2017, Navi Mumbai Police had arrested 18 people trading One Coins through Ponzi schemes. The police also freezed $3 Mn from their accounts.\r\n\r\nIn a separate news, web daily Coindesk reports the launch of another cryptocurrency called Basecoin. Backed by big investors like Bain Capital Ventures, Digital Currency Group, MetaStable Capital, Pantera Capital and PolyChain Capital, Basecoin developers hail its blockchain as a blockchain with the built-in \u2018brains\u2019 to manage monetary policy.\r\nEthereum Blockchain Hard Fork\r\nThe Ethereum foundation upgraded Ethereum Miner Software under the name Metropolis. Metropolis aims to address Ethereum\u2019s scalability, privacy and safety issues. The upgrade has been split into two parts named Byzantium and Constantinople. As Byzantium which is scheduled to be introduced on October 17, the upgrade will reduce block mining rewards from the current 5 ETH to 3 ETH. Ahead of the hard fork, Ethereum price surges by 23%. The details and updates regarding their blockchain hard-fork are available here.\r\nNexon acquires cryptocurrency exchange Korbit at $80 Mn\r\nSouth Korea-based gaming company Nexon has acquired local cryptocurrency startup Korbit. Founded in 2013, Korbit is currently one of the three-major cryptocurrency exchanges in Korea. Nexon has purchased 125K shares of Korbit at $80 Mn. With this purchase, Nexon holds 65.19% of Korbit shares.\r\nLoanBit Introduces Online Bitcoin Lending Platform\r\nAn Australia-based cryptocurrency startup LoanBit has launched LoanBit.Net platform to enable SMEs access to Bitcoin capital at affordable rates from private lenders. The platform is designed on blockchain that helps ensure the security of the system and also, makes borrowers and lenders immune to the instability of the market.\r\nThe Bitcoin \u2018Fever\u2019\r\n\r\n\r\nIn Netherlands, a man named Didi Taihuttu has sold everything, his house, car, motorbike and other pre-owned consumables; and turned a minimalist for Bitcoins. The family hopes for a Bitcoin \u2018boom\u2019 by 2020. It is speculated by the Bitcoin Community that the price will surge four times by then.\r\nCryptocurrency: What Is Cooking In Russia?\r\nRussia wants to block all websites giving access to cryptocurrency trading. As reported by Inc42, Russian Central Bank is not in favour of legalising Bitcoins. This week, according to Reuters, Central Bank First Deputy Governor Sergey Shvetsov told a conference in Moscow that the currencies were \u201cdubious\u201d and investors needed to be protected. \u201cWe cannot stand apart. We cannot give direct and easy access to such dubious instruments for retail (investors),\u201d Shvetsov said.\r\n\r\nIt is worth noting that the BRICS countries (Brazil, Russia, India, China and South Africa), in their last meet, have recognised cryptocurrency as an alternate payment tool mechanism and Group is now considering to float its own cryptocurrency. However, Sergey stated, \u201cIt is a tool without a legal definition, which has an ambiguous economic nature and does not allow regulators to protect investors.\u201d\r\n\r\nPresident Putin while speaking to reporters, said, \u201cThe usage of cryptocurrencies carries serious risks. I know the central bank\u2019s position on that.\u201d\r\nWho Said What\r\nWorld Bank President Jim Yong Kim has compared cryptocurrencies unfavourably to payment systems like those operated by Chinese ecommerce giant Alibaba, according to leading cryptocurrency webdaily\u00a0Coindesk. While speaking about the World Bank established blockchain Development Laboratory, Kim said, \u201cIt takes three seconds, three seconds, to transfer as much as $160,000 to anybody who\u2019s part of the Alibaba network, because they can assess creditworthiness in three seconds."\r\n\r\nHowever, economist and former IMF chief Kenneth Rogoff said, \u201cIt is folly to think that bitcoin will ever be allowed to supplant central-bank-issued money.\u201d He further added that if countries decide to draft and enforce new legislations or if banks are successful in their attempts to create alternative cryptocurrencies, Bitcoin\u2019s value would suffer.\r\n\r\nAmidst the news of ban coming from regulators and governments from across the world, cryptocurrencies like Bitcoin and Ethereum are still setting all-time high records. This reflects the faith of investors, developers and miners faith in cryptocurrencies despite unfavourable rules and regulations. The drive is largely being backed by Japanese and South Korean markets.