🗞 Daily Crypto News, October 18th 💰

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Bitcoin Millionaire Erik Finman Challenges Jamie Dimon to a Boxing Match
Bittrex Exchange Breaks Silence on Banned Accounts, Questions Remain
Dan Larimer Reportedly Working On Sub-second Latency in EOS
Former Fed Chairman Ben Bernanke Believes Bitcoin Unlikely to Succeed
Russia's Largest Bank Joins Enterprise Ethereum Alliance
JPY, USD, and KRW Accounts for Over 90% of Bitcoin Traded on Exchanges
BCH Trading Update by @cryptopassion

🗞 Bitcoin Millionaire Erik Finman Challenges Jamie Dimon to a Boxing Match

Are you still holding all those bitcoins?

Erik Finman (EF): Yeah I still have them, I sold a couple last week, but I have around 401 bitcoins which are making me pretty happy. I have some other money in crypto as well like the traditional altcoins such as ethereum, litecoin, and I have some money in some ICOs as well.

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“Even if every country bans it it can still exist because of the technology’s decentralization aspects. I’d prefer it not to be regulated but if the U.S. banned it tomorrow obviously the price would go down in the short term but the purpose of bitcoin is for it to exist in these worlds where regulation gets tighter.”

🗞 Bittrex Exchange Breaks Silence on Banned Accounts, Questions Remain

“We occasionally conduct compliance reviews and are working vigilantly to protect our service and our users from harm. As part of a compliance review, we have temporarily suspended certain accounts pending the completion of the review. The total number of suspended, closed, or banned accounts is very limited: less than 0.1% of the total accounts on Bittrex. More than 99.9% of Bittrex accounts are unaffected.”

Of course, everybody realizes that the vast majority of Bittrex’s accounts are working just fine. The problem is that thousands of accounts--the 0.1 percent--were (and still are) disabled.

🗞 Dan Larimer Reportedly Working On Sub-second Latency in EOS

Anyone who has spent the last few years following the cryptocurrency space has likely run across the name of Dan Larimer. His involvement in Bitcoin dates back to some of the earliest forum posts by Satoshi Nakamoto. Now, Dan Larimer is looking to push the boundaries of the blockchain itself. While cryptocurrencies have obviously gained a lot of traction in 2017, we have already seen the potential for transaction times to outpace the capacity of the individual blockchains in which the transactions exist. Essentially, independent blockchains result in creating this scarcity, as they are all significantly limited by their bandwidth, hardware and overall designs.

Dan’s newest project, EOS, aims to capitalize on all these technologies as well as allowing parallel execution via asynchronous communication, which is a major breakthrough of the previous rate-limiting function. Just this week, Dan announced in the official Telegram channel that EOS will be the first blockchain with sub-second block times that could be as low as 500 milliseconds. Essentially, this means that the time betweeen a user submitting a transaction and confirming a transaction could be consistently under a second, as opposed to bitcoin’s 10 minutes.

🗞 Former Fed Chairman Ben Bernanke Believes Bitcoin Unlikely to Succeed

“Bitcoin is an attempt to replace fiat currency and evade regulation and government intervention. I don’t think that’s going to be a success.”

Blockchain, not Bitcoin

Bernanke was all praise for the Blockchain. As reported by Fortune, Bernanke said:

"The Fed, the Bank of England, and Japan are very supportive of these technologies because they’ll improve payment systems."

🗞 Russia's Largest Bank Joins Enterprise Ethereum Alliance

Evgeniy Kravchenko, head of trade finance and correspondent banking at Sberbank, told CoinDesk:

"The next step for our blockchain team will be operations with foreign-based financial institutions and other banks, to do some international transactions, to see how we can increase the transparency and improve the trust between banks and corporate clients."

He concluded:

"I think blockchain may influience all the parties who are represented here, because all the banks are here, Swift is here. But the main message from my side is we need to do it together and jointly with other players."

🗞 JPY, USD, and KRW Accounts for Over 90% of Bitcoin Traded on Exchanges

CNY to bitcoin trading now accounts for approximately only 1% of all bitcoin trade occurring on exchanges, according to cryptocompare data. The Chinese cryptocurrency crackdown has drastically altered the global composition of bitcoin markets. 60% of bitcoin trading currently occurs through Japanese markets, with the U.S. and South Korean markets also comprising a significant share of the global bitcoin trade.

BCH Trading Update by @cryptopassion

This is the second time that we tested the long term resistance line in some hours and we failed again:

As I answered in a comment of one of my followers, I don't like BCH as a crypto but this is currently interesting to have a look on it for a trading point of view. It looks like really the market is trying to break that resistance so I won't be surprised that we are able to break it soon and that we have a nice break out.

As I explained you in my previous publication, if you are interested to buy some BCH, be sure to wait that we brake that line with volume.

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