Not long ago, Bitcoin Cash forked, and the newly created blockchains are already facing potential problems. Shortly after the BSV blockchain (Bitcoin Cash fork from nChain) suffered a bug that split the network in two, the developers of BAB (BitcoinABC) released an update that puts the entire network at risk of a 51% attack.
Mikhail Mishustin, head of the Federal Tax Service of Russia, believes that cryptocurrency makes it possible to evade taxes, cash out funds and deceive the state.
Bitcoin was trading more than 1,000% higher in 2017, with many investors and institutional firms pouring heavily into the new digital gold. Now Bitcoin has lost more than 80% of its value, and many of the hedge funds that invested in Bitcoin are now closed, and some are going out of business.
The price decline continues, with the price of most altcoins falling below key support levels. XMR is trading below $80.
Yesterday's sideways trend may end today and the market will continue to decline.
Crypto millionaire Dmitry Golubov is suspected by the National Agency of Ukraine for the Prevention of Corruption (NACP) of illegal enrichment and concealment of income using cryptocurrency.
Recently, the largest US mining company filed for bankruptcy, admitting its inability to pay its debts. According to court documents, Giga Watt's assets are valued at $50,000, its debts are nearly $50 million, and it has more than 50 creditors awaiting payment of numerous debts.
Coinbase continues to keep investor funds still locked up as it waits for "stability" on the BCH network and prices continue to spike, bankrupting traders.
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