The "Bitcoin Unlimited" development team will be releasing their token, $BTU, on April Fool's day of this year in what will surely be hailed as one of the most fitting release dates for a team ever. Unlimited node count dropped significantly this week after the discovery of a remote crash vulnerability. Core developer Greg Maxwell stated on reddit earlier this week that “There are vulnerabilities in Unlimited which have been privately reported to you in Unlimited by Bitcoin Core folks which you have not acted on, sadly. More severe than this one, in fact.” which should ensure a steady supply of lulz in the weeks to come.
Zcash's Zooko, deciding his coin doesn't have a scammy enough image, announced this week the formation of `The Zcash foundation` which will supposedly "promote a healthy and diverse zcash community" Zooko stated he will fund the foundation with half of his "founders reward" instamine, the total amounting to 273,000 coins currently worth $13 million USD at current trade prices. Matthew Green, assistant professor of computer science at Johns Hopkins University, is reputed to be one of the foundation members, which the group hopes will add an air of legitimacy to the scheme.
A new type of ransomware, dubbed "Kirk", has surfaced in various corners of the internet demanding payment via Monero instead of Bitcoin.
Never missing an opportunity to hard fork their flaming-tire-in-a-shitpit, the Ethereum development team announced that their latest fork, codenamed "Metropolis" is now back on their roadmap after being forced to postpone the "improvements" due to The DAO hack
Today Bitcoin mining difficulty increased ~3.24 percent from 460769358090.71423340 to 475705205061.62921143 for yet another all time high. The magnitude of increase is down slightly from the last two adjustments of ~4.535 and ~4.4 percent. US dollars continue trading under 1/1100th of a Bitcoin on fiat centered fiat/Bitcoin interfaces as fiat malaise continues.
Remington Outdoor, an American firearms manufacturer announced this week they would be laying off 120 employees. These layoffs were spurred by a precipitous drop in firearms sales related to a drop in hype after their greatest salesman Hussein Bahamas walked away from the job.
The "Bitcoin Unlimited" node count experienced a very sharp ~65% drop around 7:30 PM UTC as a remote-crash vulnerability was made public on Twitter. The node count, as reported by coin.dance, fell to 259 from a previous measurement of 764 moments earlier.
The actual vulnerability is a result of the ineptitude of the "Bitcoin Unlimited" developers to incorrectly implement the usual "monkey see, monkey do" approach to software, by messing up the copy-pasting of power-rangerolade.
Peter Todd's straight Twitter disclosure was made in a context of heightened tensions among the two main flavors of idiocy, namely the SegWit peddlers and the Roger Verified "Bitcoin Unlimited" followers.
With Trump firing Preet Bharara after the bureaucrat refused resignation, the fake news media has continued to stretch their mourning for the fake justice crusader's dead career. Preet is likely to lose his position as a focal point of mourning when Trump's budget proposal is revealed later this week.
Other USG swamp relics, this time at the Securities and Exchange commission disapproved a paper Bitcoin instrument which would have allowed certain kinds of restricted US dollars to simulate buying into Bitcoin. The agency's rationale for rejection was that the United States had failed to undermine and capture the Bitcoin market as they had gold. After a few moments of bullish volatility for the US dollar, the altcurrency fell back into it's recent stable groove of 1/1200th to 1/1300th of a Bitcoin.
This week the tracks took the Trump train into active and serious aggression against his opponents for the first time. Here's what happened.
- One week ago US President Donald Trump alleged that his Trump Tower campaign headquarters had been surveilled under his predecessors orders. This opening move threw his opponents into a tizzy and lead the fake news media to parade former Director of National Intelligence James Clapper, FBI director James Comey, and other functionaries of the Deep State to categorically reject that Trump had been surveilled or investigated for any lawful reason. Thus the fake news media refuted their past five months of drumming "Russian Collusion" over a single tweet.1
- This was followed by the serendipitous Wikileak of substantial CIA information which threatens to gut the agency's leadership and careerist ranks for cause, because accountability is a thing in the Trumpland.
- House Speaker Paul Ryan's plan to sever Obamacare was unveiled revealing priority GOP congressional targets to purge in the 2018 mid term primaries.
- The week ended with Trump requesting the resignation of numerous US attorneys appointed by Hussein Bahamas including Preet Bharara.
Bitfinex, hoping to offer it's userbase more scam tokens to choose from, added cryptocurrency Dash back to it's roster against USD and BTC trading pairs. Bitfinex added the coin in 2014, only to remove it in August of the following year due to low trade volumes. Dash rose to the #3 spot on coinmarketcap.com with a nearly $300 million USD market cap, though price was down -9.04% in the past 24 hours of trading.
BTC.com mining pool, advocates of the Bitcoin Unlimited fork, started offering a new service that allows users to "accelerate" their transactions on the network by paying a fee using a credit card. Pools mining with the Unlimited software claim that blocks are "full" and that an unsafe hard fork is necessary while consistently mining empty blocks.
A hacker known as 4lemon discovered a flaw on itBit exchange that allowed users to send funds that didn't exist from one account to another due to a rounding bug. The user demonstrated he could send 0.000000005 XBT (Less than the trade minimum of 0.00000001) without triggering any sort of error in itBit's trade engine, resulting in SFYL.
The Bitcoin network mining difficulty has risen to 460769358090.71423340 from 440779902286.58917236 in a change of ~4.535 percent. This is in line with last period's rise of ~4.4 percent. Meanwhile fiat/Bitcoin interfaces continue to steadily report record malaise on the fiat side. Reported prices continue to be near or below the 2013 MtGox record low for the US dollar.
The thrashing that fiat currencies have taken at fiat/Bitcoin interfaces so far in 2017 continues. The US dollar and the endangered Euro continue trading under 1/1000th of a Bitcoin on fiat emphasized interfaces. Further strong signal from the fiat side bearish to itself is possible after March 11th when the US Securities and Exchange Commission is likely to approve, either by action or inaction, a new "paper"1 Bitcoin linked trading vehicle.
The Haoles at Coinbase announced earlier today that they will be suspending operations in the state of Hawaii indefinitely. An email sent to customers in the Aloha state informed them that "The Hawaii Division of Financial Institutions has recently communicated regulatory policies which will render continued Coinbase operations in Hawaii impractical. " Customers are being given the usual 30 day period to either transfer "their" Bitcoin to another address, or sell for fiat using the company's exchange. No word was available if or when services would resume there in the future. Sorry for your laws