BitMEX Research reported finding two obsolete blocks in Bitcoin, and we’re telling you what that means for the crypto community!
BitMEX Research found two obsolete blocks in the Bitcoin Blockchain. What does this mean?
Obsolete blocks, a danger for Bitcoin?
First, the obsolete blocks, or Stale Block, are blocks that are no longer part of the current Blockchain because they were overridden by a longer string. Remember that the Bitcoin System is combined under the underlying rule that the longer chain wins.
The obsolete blocks in the Blockchain itself indicate poor network propagation. As BitMEX Research explained to Decrypt, they result in wasted work, less test work, which can make the network cheaper to attack.
Thus, yesterday BitMEX Research reported on Twitter that two obsolete blocks were found at a height of 650,473 and 650,491, respectively. However, BitMEX reported no double spending.
This doesn’t always happen; the last time two obsolete blocks were found in the Bitcoin Blockchain in August and another one in July. So, although it’s not necessarily dangerous, it can affect the network.
Grayscale holds 2.4% of the total Bitcoin supply
IRS quickly invests in your project to end Monero
As you may recall, earlier this month the U.S. Internal Revenue Service (IRS) offered incentives for projects focused on ending crypto privacy in Monero (XMR).
And, without wasting a second, it announced that two companies have already been chosen for the project and they are none other than Chainalysis and Integra FEC.
The IRS will go to great lengths to end privacy on Monero
Crypto problems in Ethereum 2.0
Yesterday Spadina, the Ethereum 2.0 testnet, was launched and immediately encountered some problems. Specifically, Danny Ryan, lead developer of the project, pointed out that more than a general crypto test will be needed.
Basically, the developers of Ethereum 2.0 have already had to program another dress rehearsal, called Zinken, which will take place at the end of next week.
Ethereum beats Bitcoin for the first time, by what?
YouTube once again attacks the crypto community
Yesterday YouTube decided to permanently ban Davinci Jeremie, a Bitcoin youtuber with 82,000 followers, from the platform for not complying with its Community Guidelines and Terms of Service.
It’s not the first time YouTube has turned its back on the crypto community, however, the latest action seems to be definitive.
Jeremie reported the situation via Twitter and claimed to have tried to appeal YouTube’s decision but has been unsuccessful. Clearly dissatisfied with the email, Jeremie added, „I only hit you in the head with guidelines and I don’t show you how he violated them because I don’t want to be sued.
YouTube scams are worse than Twitter attacks, according to Changpeng Zhao
Terror debate in the United States, how did the crypto community react?
Yesterday there was a heated debate between Donald Trump and Joe Biden that left much to be desired and the world made it known through social networks; especially Twitter.
For his part, Anthony Pompliano, co-founder of Morgan Creek Digital, published his disappointment on Twitter: „It’s pretty crazy that these are the two best people our country could find to be president.
Thus, the U.S. elections have caused a significant increase in volatility in markets around the world, but what about crypto?
Well, Bitcoin, in particular, has once proven to be an attractive investment. In fact, as a curious fact, the last time there was a presidential debate in the United States, 2016, Bitcoin was valued at $630.
Thus, crypto Twitter pointed out that it’s better to spend time buying Bitcoin than voting for either candidate.