Bitmain puzzler

Crypto miner questions and a siacoin quandary

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Sponsored by   August 21, 2018 WHO'S IN? Tencent Holdings and SoftBank Group have denied involvement in the widely-covered pre-IPO funding for Bitmain, the bitcoin mining giant based in China. One major company, China International Capital Corporation (CICC), hasn't denied the news -- but it hasn't confirmed its participation either. Full story  HOISTING THE OBELISK: Developers of the cryptocurrency siacoin are mulling code changes that would render specialized mining chips from companies like Bitmain and Innosilicon useless. The move turns controversial given that the main manufacturer of siacoin mining hardware is now Obelisk, founded by siacoin creator David Vorick. The company is also reportedly facing lawsuits for failing to ship its hardware to buyers. Full Story OVER IT: At least five BitTorrent employees have left the company following its aquisition by blockchain startup Tron. This includes at least two top managers, including its general manager and head of marketing. BitTorrent staffers fear that Tron's strategy will compromise the company's working culture, sources say. Full Story Knowing the current state of market volume is important, but you should always remember to ask: which kind of volume? Network volume concerns only the volume actually being recorded on the blockchain. Exchange volume, by contrast, accounts for the amount of funds being traded back and forth in crypto marketplaces.  Thus, we have two types of volumes: onchain and offchain. As a rule of thumb, more onchain volume could indicate higher network use while more offchain volume may point to increased speculation. Looking at bitcoin’s past month, we observe both convergences and divergences. August 12th saw onchain volume decrease alongside a sharp rise in offchain volume. This could signal that users are selling due to downward price pressure and abstaining from actually transacting on the network.  For more research insights check out the CoinDesk Research section here. SPONSOR SECTION   The Oxford Blockchain Strategy programme is developed for business leaders, innovators, and future thinkers with an interest in blockchain. This programme gives you a fundamental understanding of blockchain, and its implications and effects on your business strategy. Visit the programme page to learn more.   A BULL PATTERN? Bitcoin is trading at roughly $6,415 as of the time of writing, with technical charts showing the possibility of a short rally. Full Story BEST OF THE BEST THE GUARDIAN: Could blockchain help solve a refugee crisis? More than 700,000 Rohingya were exiled from Myanmar without IDs and citizenship. Muhammad Noor and his team at the Rohingya Project are exploring how the tech can help Rohingya in Malaysia, Bangladesh and Saudi Arabia access services such as banking and education, and maintain their digital identity without involving state authorities.  THE REST FORTUNE: The magazine writes about the Saturday arrest of Divyesh Darji, an alleged leader of BitConnect, a now-defunct crypto lending scheme widely characterized as a Ponzi scheme. But the arrest is only a part of the Indian police's widening investigation of a fraud and corruption network involving police and politicians, according to Fortune. ENTREPRENEUR: The Europe-focused magazine showcases how crypto and blockchain startups continue to encounter regulatory pressures -- with some looking to friendly European jurisdictions to potentially set up shop.   BBC: The global news service explains stablecoins pegged to traditional currencies, which carry the hope of using blockchain and game theory to sidestep the risks of high volatility in cryptocurrency markets.   We've launched our new podcast, Late Confirmation, which are the top stories in the blockchain world, delivered daily from the team at CoinDesk, sponsored by the Oxford Blockchain Programme.  Listen to Latest Episode and Subscribe   WHO WON #CRYPTOTWITTER   ConsenSys Jobs Blockchain Jobs Circle Jobs BitGo Jobs Copyright © 2018 CoinDesk. All rights reserved. Our mailing address is: 636 Avenue of the Americas New York, NY, 10011, US Want to change how you receive these emails? You can update your preferences or unsubscribe from this list