With two new
Total crypto currency market capitalization has crossed over $200 billion, and bitcoin is dominating 61.4% of this wider market. This is a substantial increase from the June low, when the first crypto currency briefly hovered around a 37.81% market dominance.
The main reason why people are buying Bitcoin is the rising price, not the cryptocurrency benefits. This cannot last forever. Sorry
— Michael Jordaan (@MichaelJordaan) November 3, 2017
Damn, who are these guys paying $7400 for Each Bitcoin.
Can't even imagine myself being one of them.— Anondran (@anondran) November 3, 2017
MIT Technology Review just released an interesting article on the bitcoin community, drawing parallels and commenting on how it somewhat relates to a religious experience for many of its users.
"In Zeroes & Ones We Trust?: Money, Religion & #Bitcoin" #ACR2017 pic.twitter.com/YZKZCS9rrr
— Mariam Humayun (@MariamHu) October 29, 2017
The State Bank of Vietnam, Vietnam’s central bank, has completely banned and deemed the use of crypto currencies illegal. This was preceded by the Indonesian Central Bank outlawing bitcoin just a few days earlier. However, so far both of these developments do not seem to be affecting the price of bitcoin as of yet.
Coinbase added 100,000 users in the past 24hrs
Data: https://t.co/R9B63J2d6Q#bitcoin— Alistair Milne (@alistairmilne) November 2, 2017
Some confusion has surfaced regarding the ensuing forks and auxiliary events. But for today, we only need to watch out for the OKEX BCH futures listing. OKEX has been quite active with recent coin releases, and there are many other interesting crypto currency derivatives, that seem to have taken the center stage with the site’s rather diverse user base. BitPay has also been rumored to be adding bitcoin cash in the near future.
Would #bitcoincash hit $700 soon? https://t.co/EBkpRSyL7Y
— OKEx (@OKEx_) November 3, 2017
Furthermore, November 13 is determined as the juncture of the BCH hard fork, and should be marked down as an important date as well. The rise of the bitcoin cash price was the main catalyst for this radical move. The primary focus will be on repairing the presently broken difficulty adjustment, that is causing a plethora of problems for miners.
The SegWit2x bitcoin fork is estimated to occur before November 15, and apart from the bicoin silver December fork (which some in the crypto community are technically calling an airdrop), there is the impending Coinbase release of bitcoin cash, support for the currency is expected no sooner than January 1.
Wouldn't it be ironic that if the 2X HF gets called off because no one supports it, #Bitcoin price dumps because no free airdrop.
— WhalePanda (@WhalePanda) November 3, 2017
What software will be considered #Bitcoin on December 1st?
— Bryce Weiner (@BryceWeiner) November 1, 2017
The Bitcoin Investment Trust (GBTC) is garnering a lot of attention these last few days too, with stellar price performance being fueled by bitcoin’s explosive growth and speculation, in addition to the expansive mainstream media coverage on all things crypto.
$GBTC pic.twitter.com/WXhRczFklv
— daleschreiner (@DaleSchreiner) November 1, 2017
Bitcoin Investment Trust to sell all Bitcoin Cash and distribute proceeds to shareholders. $GBTC. https://t.co/rXwEAqUUKK
— BambouClub (@BambouClub) October 28, 2017
Bitcoin began trading from the $6,337.1 daily low on November 1 (GMT 04:00). After a stellar
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