Crypto News | Segwit2x Caught With Fake Nodes, Parity Wallet Hack = Lost Funds, Bitcoin Uncertainty

you hello and welcome to Berlin bear cryptocurrency analysis news and education my name is James Gore and this is going to be a bit of a market update and diving into news for the 7th of November 2017 so just taking a look at pointed a we can see Bitcoin is hovering around $7,000 approximately seven thousand forty seven to be precise that's six hundred to five hundred dollar drop off since reaching new all-time highs this last week with the run-up to Segway it's 2x hard fork there's been a lot of optimistic news regarding Bitcoin lately with simi futures announcing it will be jumping into the Bitcoin markets and a bunch of other things which has been propping up the pipe price lately and of course with a Segway 2×4 people are looking to get free coin getting that air drop of Segway 2x a lot of people have been of course buying Bitcoin as well a theorem is down at three point four six percent set $291 Bitcoin cash 612 and litecoin is up 6.4% their $59 we'll go to an article later regarding why that is and if I just quickly type in Bitcoin cold oh right yes good dear still not oh well anyway I have to stop taking the piss off Bitcoin cord anyway moving on to the actual chart think I have it open here yep so Bitcoin if we go to our early charts we can see there was a slight head shoulders pattern forming like so it looks like it's for the bearish break today so the British traders will have to sort of day traders will have to work with more bearish market but if we go to daily timeframe well because a year insane run-up we can see that I've had a really strong run up the last couple of days but of a bearish break of people selling off their Bitcoin a bit of uncertainty from reached out resistance level of 2500 US dollars and dropping down seven thousand in that dissipation of psychic 2x we can see that from the RSI Bitcoin has actually been a bit overboard and a bit overextended since the start of Aden of November so we could have expected a sell-off and to be honest I was expecting it around here the RSI was 75 where was it 75 but actually sort of a tea and if you look in past timeframes it's around 70 to 80 that Bitcoin seems to a bit of a set-off but we have a bullish candle you get confirmation of that we may see Bitcoin prices rising up $100 or so in the next couple of days we go to the four hour time frame and again Bitcoin is generally trending upwards although we could see a tiny bit of a head and shoulders passing for me unlikely though seems like it four hour time frame is it a bit of bearish action right there we have an engulfing candle right there bullish and golf with an O we'll see we'll see anyway on to the news on to litecoin good news for litecoin south korea exchange coin 1 adds light coin to its platform which is good news for light coin which is why we can see there's been a bit of a bump I believe it says how much has been traded through put 2 million dollars worth of like what in the first 24 hours of trading like corn on this new South Korean exchange that is absolutely fantastic news for litecoin people holding like own like Quinn in general very good news very very good news very positive I'm going to move on and try and keep it short and sweet as I've record this video many times if audio issues Google knows more people search by Bitcoin my gold so it's a statistically speaking people are searching more to buy gold rather than sorry buy Bitcoin relevant buy gold that's to be expected actually I mean there's been a lot of news with guarding Bitcoin this year it's reached new all-time highs repeatedly this yes we've been a crazy brought up so of course the general populations penetrating their sphere of awareness has been much more much greater this year with cause the people calling Bitcoin a fraud create a Ponzi scheme and fake with banning in China lots of new surrounding bitcoins been coming up and also it's been on mainstream media now I live in London UK and you can see adverts and posters on the news and actually in the real world out and about for example on the London Underground to the Train Network here to buy and trade Bitcoin physical posters which is insane considering last year it wasn't really on anyone's radar but moving on in the article from Queen Telegraph basically demonstrating or examining bitcoins performance this year comparatively to other means of investment so it compares to Apple stock the Nasdaq Dow Jones gold SNP and of course the US dollar bitcoins been up six hundred and sixty three percent now what this doesn't take into account is absolute for the Atilla tea and corrections we've faced this year yes it's been a great run up since January from a thousand 675 thousand dollars however there have been Corrections of thirty to forty percent on numerous occasions and smaller ones as well so that doesn't take this into account however if you were to invest in Bitcoin of this year you possibly would've made quite a significant profit a year it's not over yet however one that line I did like from this article was in fact bitcoiners had better years 22:6 2016-2017 sort of digital currency grow two thousand eight hundred percent but this year there is no competition so generally speaking returns of the general the stock market seeing five to ten percent how a 10% return the stock market that would be amazing seeing a five to seven percent return on stock market would be basically being in a good place and bitcoin is offering much more than that much much more that more news with because the Bitcoin and we get to the main stories from today Bitcoin is ranked 32nd global currency by physical money supplies so because a Chatwood Jameson lop the lead developer of bigger blockchain security company has worked out that if you were to compare bitcoins all the currencies in the world it would have ranked 32nd just putting ahead of Singapore and South Africa and just behind Finland and the United Arab Emirates now what I really found interesting with this article is what will it take for Bitcoin to be in the top ten it's be within the top of ten assets and I was basically saying that there are predictions that the cryptocurrency market could cross one trillion dollars in 2018 that's not far away that's just one year and because of dominance of Bitcoin a lot of that push will be from the original currency additionally many believe that bitcoins rapid market cap growth is impressive going from other twenty billion in January all the way to 201 billion on them member v but only once one trillion is reached will it be a major player a one trillion dollar mark half a Bitcoin would rank it constantly in eighth ahead of Spain and just on Italy the lowest ranked country with one a trillion in our own money so Bitcoin still has a way to go to be up there in competing with some of the leaders in terms of mices Y however the rapid rate of adoption and growth this year is indicative of just how much potential there is a member to grow still now we're gonna go into the juicy news so as we know as you may not know there is a hard walk approaching us as cigarettes 2x if you don't know what hard fork is it's a bit technical to go into now but essentially there's a contention amongst the Bitcoin community as whether what's the best approach to scale Bitcoin out and some people are proposed to increase the amount of transactions that can happen in a block now if you don't know what block is again it's not super technical but be a bit long to explain but just there's people that want to upgrade Bitcoin and there's people that don't not with this method not with what these people are proposing and there's been a lot of controversy with this sacred 2x upgrade because one if it does go forward it shifts power from the core team and core developers of Bitcoin current States and concentrates it in the bunch of CEOs and essentially bankers hands people that kind of we don't really want to be influencing how Bitcoin is produced health how its mind and it's just general direction obviously there are some issues with regards to scalability with Bitcoin but increasing the block size I personally don't from one bigger bit to megabit isn't really a long-term solution and we can obviously do better as a community now a good old chap here on reddit slash Bitcoin called loser kids here at a PHP script to analyze all the segue to X nodes and identifying compare them to Amazon AWS IP range and what this meant was he was detecting whether or not these are genuine nodes or if they're fake and if they've been created to muster up false consensus and full supports and basically just tack on this network if it fails or if it struggles to get started and lo and behold a great 90% he found 90% of the sedgwick 2x nodes which have been popping up miraculously in organically recently which has been very suspicious and suspect turns out they are AWS instances which basically means they are nodes they're not they're doing the job but likely likely that they've been created by the people are proposing segue to X rather than the people that mind Bitcoin people that do provide nodes a Bitcoin shifting over to Segway to NEX and showing support so what does this mean this means again this is further supporting that little shamey practices regards to say go to X and that people are trying to fight for control for the future of Bitcoin and as a community I believe we should really fight against this as much as possible say get to X is not a long-term solution to the scalability problem and there are solutions on the horizon coming to a core bit Bitcoin big or Bitcoin legacy or rod just Bitcoin as it should be called and there's a lot of issues with sector X so it's interesting there has been caught out so we'll move on and this ties in to my last point you may have heard that CME Group announces the launch of Bitcoin futures which is absolutely fantastic for the future of Bitcoin it does mean that the prices go up doesn't mean that institutional money is coming and mainstream adoption is coming however if you read their article they do not say that they are providing segue to X futures or Bitcoin gold futures providing purely Bitcoin futures Bitcoin futures which kind of solidifies in in a Minds like that segue to X I'm sure it's going to be around till the coins going to be around which was going to be support some support for it however I don't think it's going to be a Bitcoin killer I don't believe it's gonna take of a Bitcoin I believe if even if they get hashing power to kind of support their network over time is it's not going to it walk and test with Bitcoin but it's not a really honest approach to serving the community and doing what's best for Bitcoin at the end the day and Forks like this are actually an attack on Bitcoin and what and just a vie for control anyway enough politics moving on sadly those of a parrot parity multisig wallet has been another critical bug and it essentially means that if you had a multi single wallet made post July 20th due to user finding exploiter intentionally or unintentionally with the library contract now you have zero access to your funds which basically means you've lost all your money now parity is obviously I'm aware of the situation and they are going to follow up with details shortly but it seems that as far as we can tell if you've been keeping your coin in a parity multi-sig wall that you've lost everything absolutely everything which is quite insane considering it's a second bug from its from parity with God slowly which is its killer it was killer it's not it's not doing it's not a good sign of doesn't doesn't really invoke trust in parity does it so my suggestion to you is keep your coins in cold storage keep your coins in a paper a little hard or or a hardware wallet keep your coins of exchanges even with the run-up to segue to X I mean how important is it to get your secret to X corn there's going to be other ways to get your to X coin if it's really that important to you I'm really considered how much coin how much is your 2x going to be worth came up with this walk compared to what you could be doing with the rest of your bitcoins be investing in it all coins you could be keeping it safe and called storage or you could just be continually investing in Bitcoin that's it for the news today I would like to hear from you guys what you think when you today what do you think of segue to X there's a lot of politics going around perhaps you support it perhaps I'm not seeing something about it that I as I should you know maybe something is missing or I don't know it's hard for me to kind of find the moral support and justification for say with 2x in all honesty especially with Bitcoin cash existing I mean there's another option anyway maybe that's enough for today I hope you found use informative please do like comment and subscribe to the channel for new news daily news coming at you every single day and there'll be more than just news content along the way and I wish you all the best and are you feeling bullish or bearish with the markets there speak to you soon see in the next video hey it's James here just wanted to say thank you very much watching that video hope it was educational and informative just like to say if you could please don't forget to subscribe to this channel like and comment below and most importantly share this video with someone that you may think it would be beneficial to as well as that you can support a channel in various ways posting social media and also of course by patreon or donating a Bitcoin etherium like coin or – or the best I'll see you in the next one

Leave a Reply

Your email address will not be published. Required fields are marked *