Dennis Payne

An Apollo Guidance Computer, which helped in guiding Man to take his first steps onto the moon 50 years ago may come in handy once again! The working AGC has been repaired and restored to its former glory by Ken Shirrif and his team, and is now ready to work as a mining rig for Bitcoin!

The restored AGC could previously perform only 40,000 operations every second, but its speed was not more important than its ability to be useful and an abundance of IO which is needed when a crewed spacecraft is being guided. The success of the Apollo missions relied on it but turning it into a rig for bitcoin may still prove a task.

While overviewing the mining of Bitcoin, with one of the best explanations of the hashtag algorithm, the AGC may be repurposed. Limitations persist regarding the memory addressing scheme of the contraption, and machine instructions which would translate the commands to the machine. However, with some coaxing, the machine seems to have begun its work, and now mines 10.3 seconds per every Bitcoin hash. Ken has estimated that within 400 zettaseconds, one Bitcoin may be mined which is a billion times older than the universe. With 12 quadrillion years to the mining of the very first Bitcoin, interested customers will be able to analyze the situation and educate themselves about it very soon.

This, it seems is not the first time that an attempt has been made to mine Bitcoin to almost no avail. The Xerox Alto mine was considered faster than the AGC. But, the IBM mainframe and punchcards are yet to be beaten!

The blockchain platform for booking hotels, Travala, on July 10th published the results of the previous month. As per the reports, in Thailand and USA housing is more frequently booking by using the cryptocurrency.

As per the information was given by Travala, the previous month the home reservation for cryptocurrency took place in the United States and Thailand. There was 701 numbers of reserved rooms for crypto-assets which is 17.4% more as compared to the month of May. The standard room rate per night in the dollar is equal to $ 147.

In June, 22% of all bookings were made on the AVA native token. 20% ahead of BTC, this makes it the most favored crypto-payment alternative. There were 294 294 people as participants in the SMART-program which is 18.5% more as compared to the month of May. As per the rating, most of the hotels were booked in the United States and Thailand. They are followed by Australia, Italy, Germany, Singapore, Canada and Spain. 

Thailand and the United States are leading in booking hotels for cryptocurrency. A discount of 27% discount was offered on rental housing in Berlin for contestants of the blockchain forum.

According to a South Korean financial regulator, recently, Facebook’s unveiled project of Libra cryptocurrency threatens the stability of economic systems.

It was reported that the FSC (Financial Services Commission) of the nation looks at what can occur ‘if 4 billion Facebook users all over the world transfer one tenth of their deposits to Libra.’

Should that situation come about, banks’ solvency would reduce, as would their loan reserves, representing a risk to budding markets from the transfer of the capital out of those nations.

More concerns raised by FSC that bank runs can occur during economic or foreign exchange crises, as many people move their national fiat money to Libra. Libra can be extensively used for money laundering without proper bank-like controls. It added that ‘a big economical institution, like JPMorgan or Goldman Sachs, had refused to take part in Libra’.

As per the report, to the traditional banking industry, the project is a main threat. If a company like Facebook buys a bond as a substitute for making a bank deposit with patron funds, the economic condition of the bank may be worsened. And if Libra permits virtually free overseas payments, the banks of South Korea trillion of won in revenues from remittances would be considerably reduced.

The probability of successful flourishing commercialization of Libra is higher than for other cryptocurrencies. Providing financial services through its social media services like WhatsApp, Facebook and Instagram, with their billions of customers, the firm without any difficulty guarantees convenience as well as price competitiveness.

Moreover, the FSC said that the report is to make possible the understanding of the press and other media on abroad trends and not its official judgment on Libra.

SFOX, a cryptocurrency insight and analysis company has released a report which says that bitcoin prices could be fluctuating with the holiday season.

This report says that the largest bull run encountered by bitcoin was last seen in 2017. This was most likely caused due to people discovering bitcoin at Thanksgiving dinner. The report says that most family members who enquired about Bitcoin were likely to ask about where to acquire it.

The holiday season may not be the only factor pushing sales of bitcoin on the increase, but it is one of the essential factors. Traders are cautioned to pay close attention to the expanding retail interest as that may be the key to raising prices of bitcoin.

This report also refers to Thanksgiving along with the Spring Festival held in China, both of which have nudged bitcoin markets to soar. SFOX says that since bitcoin is now out of the bear market, western holidays which are about to begin could be the catalyst it needs to be dinner table conversation again.

Top 20 digital currencies are in the red zone while only Chainlink(LINK) is showing gains daily.

Bitcoin (BTC) has been trading from $ 11,701 to $ 10,751 during the day. There has been a price drop of 2.73{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}, in its weekly performance.

The average correlation between bitcoin and all other major cryptographic assets was reduced to 0.61 from 0.73 in the first quarter of 2019.

Ethereum (ETH) has recorded smaller losses on the day, as there was a drop of 1.89{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}. It is trading at around $287.31. Its weekly chart shows that the ETH fell as low as $ 274.62 on July 2, while its highest point was $ 321.68 on June 30.

Previously, Justin Drake, a researcher at Ethereum 2.0 at the Ethereum Foundation stated that the ethereal could reduce emission tenfold by 2021.

Data from Coin360 indicate that Ripple (XRP) has fallen 3.15{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} on the day to trade at around $ 0.381 at the time of printing. The weekly performance of altcoin shows that it has lost almost 9{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}, comparing it with the last month, the drop was of 4.84{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee}.

The only LINK is reporting profits, with more than 6{dd299c883823a46beb0705d70a03c819bede140f906792bc593d52b8d4c5e8ee} on the day. The currency is quoted at around $ 3.62.

The total market capitalization of all digital currencies is over $ 320 billion at the time of publication, above its historical low of around $ 290.5 billion on July 2. The daily volume of all currencies is currently around $ 74.8 billion.

The price of bitcoin has tripled approximately since the beginning of the year, and most people have associated price movements with advertising about the next Libra cryptocurrency on Facebook, although Libra is very different from Bitcoin.

While Bitcoin has been in a tear this year, almost all major altcoins have not been able to keep up with the world’s first, largest and most popular cryptocurrency. In fact, Bitcoin SV (BSV) and Chainlink (LINK) are the only two alternative chips to face Bitcoin in the last three months, according to Longhash.

BSV is backed mainly by a personality cult of someone who has claimed to be the creator of Bitcoin Satoshi Nakamoto, but has never been able to prove it. In fact, many in the space of cryptography have referred to him as a complete scammer or swindler.

On the other hand, LINK is the token associated with a project that attempts to solve Ethereum’s oracle problem. LINK would not have been considered an important encryption asset at the beginning of the year, but the token has risen 839% against the US dollar so far, according to OpenMarketCap.

CHAINLINK AS A SOLUTION

Oracle’s problem is basically that intelligent hiring platforms like Ethereum have no knowledge of real-world data.

Chainlink’s solution to the Oracle problem involves the use of a decentralized network of oracles to reduce the risks associated with trust in a single third party.

It is possible that something like Augur or Bitcoin Hivemind is necessary to provide a sufficiently decentralized network of oracles.

ABOUT THE LINK TOKEN

The LINK token is used in the Chainlink network for activities such as paying for the data and putting in additional material. This economic model attempts to create the right incentives for the value of LINK to increase as more entities enter the network to provide Oracle services.

While this model seems to make sense at first glance, it is not clear if the additional LINK tab is necessary.

While LINK has been the cryptographic asset market favorite in 2019, it is important to remember that these types of currencies can fall as fast as they rise, especially when they rise as fast as LINK this year.
LINK price speculation existed months before the main Chainlink subreddit was created, which means that the effects of the network are probably also at stake there.

Buying this coin today may not be very different from playing slots in a casino. Anyone who decides to speculate about LINK should only do so with money that they can afford to lose.

Four other US lawmakers are making a formal call to Facebook to stop all development of their Libra cryptocurrency. This through a new letter sent to the executive partners of the giant in social networks.

This Tuesday, the Democrats of the House of Representatives of the United States, addressed an open letter to Facebook, calling for a moratorium on all development of Libra. Meanwhile, the Financial Services Committee and affiliated subcommittees held hearings to determine how it will work and what protections will be implemented to protect the user’s privacy.

Libra was unveiled in June, although it was rumoured that the social networking giant had been developing the project for months. The company joined 27 partners for its launch, including the Coinbase exchange house. In addition, it intends to have at least 100 members for the Libra Association, who will act as a governing council for the cryptocurrency, once the token is activated.

The first public hearing to examine Libra, by the Committee of Domestic Financial Services, has already been scheduled for July 17. Just one day after the hearing of the Senate Banking Committee on this same topic is maintained.

Since the formal announcement of this project, regulators and government entities worldwide have expressed caution or alarm. Members of the G7 have formed a working committee to investigate the project and several ministries have called on Facebook to share more details, or otherwise cease their developments.

The US-based Binance Crypto Exchange operator appointed the former Ripple executive as its new CEO which was announced on July 2.
BAM Trading Services (BAM), the operator of the Binance US has hired Catherine Coley, a former liquidity management expert at Ripple.

Coley served as Director of XRP Institutional Liquidity, her most recent position before Binance in the United States her experience includes experience in foreign exchange. Five years in the financial services company Morgan Stanley with one year in the commercial bank Silicon Valley Bank Binance, currently the largest encryption exchange per adjusted daily trading volume, has officially announced the launch of Binance US in partnership with BAM on June 13. After the launch, Binance subsequently restricted services to US-based customers, in the recently updated conditions of use of June 14.

On June 6, Binance confirmed reports that the exchange plans to launch its own stable soon.

Ripple is a major cryptocurrency company that backs XRP, the third largest currency by market capitalization to date. Recently, Ripple CEO Brad Garlinghouse declared that bitcoin (BTC) and XRP are not competitors, arguing that bitcoin is a store of value or “digital gold”. On the other hand, XRP provides an efficient solution to Fiduciary transfers.

Twitch is slowly starting to tolerate Bitcoins as a way to make transactions again, as per reports from Blockonomi. The huge video-game streaming platform had recently enabled clients to pay for memberships by using the prominent digital currency of Bitcoins. However, that component was scrapped from the platform not long ago at the beginning of this year. Presently, it appears, the capacity to make payments with Bitcoin has been enabled – at the very least in a portion of Twitch’s marketplace.

BitPay, a transaction processor that changes over the digital crypto currency into fiat cash, is supposedly preparing to handle the Bitcoin transactions, as indicated by Blockonomi. So in spite of the fact that Twitch is probably not going to get real Bitcoins, a standout amongst the most prominent gaming stages on the planet is empowering Bitcoin-based transactions. This is another noteworthy advance toward regularisation of acceptance for crypto currencies.

What makes this more exciting is the fact that the owners of Twitch are Amazon.com, the e-commerce giant. This raises the possibility that perhaps over time Amazon would accept Bitcoins too. Such an event is an exciting development for supporters of crypto currencies as a giant like Amazon can make other companies be more willing to join the group of companies which are slowly opening up to Bitcoins.

A few big money value bitcoin (BTC) exchanges were incorporated into a solitary block on the 30th of June. A Twitter account committed to revealing noteworthy bitcoin (BTC) exchanges, going by the name Bitcoin Block Bot, announced that 25 bitcoin exchanges worth six billion dollars were incorporated into the block 583,139 on June 30.

Digital money news outlet going by the name AmbCrypto detailed that every one of the exchanges shaped a greater, linear exchange. the first wallet started the exchange by sending 24,392.93062596 BTC to wallet 2, and 300 BTC to wallet 3. This last location got a sum of 5,800 BTC, and was a wallet who received BTC from some other wallets in every in every one of the 25 exchanges.

The second wallet additionally moved 300 BTC to the third wallet as well as 24,092.93013651 to a fourth wallet in a chain that proceeded for 23 exchanges. Inquisitively, one exchange, originating from vanity address 1BUYBTC1oYQtAjktSRZUtjkeBJ15ABc5bb, contained the accompanying message in its yield contents which said “We’ll buy your Bitcoins. sell.buy.bitcoin@protonmail.com”.

When the press reported the news, the third wallet had performed 440,505 exchanges and collected an aggregate of 5,959.532 BTC and held an amount of about 6445 BTC, which equates to $ 72.5 million.