FCC wants to repeal net neutrality. Is Tether price manipulation affecting other crypto prices? Vitalik talks up plan to scale Ethereum via quadratic sharding. Taiwan follows Singapore’s lead on crypto regulation. Price spikes and panic selling.
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|Traditional Financial Markets||Cryptocurrency Markets|
|Gold $1,286||SegWit (SW) $9,822|
|Silver $16.50||Ethereum (ETH) $433|
|Oil $57.43||DASH $710|
|Dow Jones 23,940 points||Litecoin (LTC) $85.90|
|30Y UST Yield 2.824%||Bitcoin Cash (BCC) $1348|
Another show begins with discussion of Tether — this time, Darren expresses concerns about how Tether price manipulation may be affecting the reported prices on Coin Market Cap, etc.
The Federal Communications Commission announced this past holiday weekend that they would be voting to repeal Net Neutrality protections on December 15th. Net Neutrality is fundamental to a free and open internet. This could have major implications for all aspects of the internet.
The hosts discuss the pros and cons of Net Neutrality and how this change could impact cryptocurrencies.
On November 25th at BeyondBlock in Taipei, Vitalik discussed the plan to reach Visa level scalability within the next 3.5 years. Wearing a Byzantium T-shirt, he began the talk with saying, “The Ethereum killer is Ethereum, the Ethereum of China is Ethereum, the Ethereum of Taiwan is Ethereum 2.0”.
While off chain solutions like Plasma or Raiden can increase scalability, Vitalik discussed how Ethereum plans to scale on-chain to thousands of transactions without masternodes, consortium nodes, or any other centralizing aspects by using Sharding.
Vitalik described how a blockchain can have a validator manager contract which maintains a Proof Of Stake system and this validator also keeps track of a set of shares, each with it’s own address space. Each shard has blocks and transactions that are not on the main chain. Groups of transactions would be collated and have a PoS signed block header and these headers would be pushed to the validator contract.
As Vitalk explained it, this blockchain example would have two worlds: an old world that operates at the current level of scalability replicated by each node, and a new world that has nodes that validate certain shards and act as light clients for other shards. New shards create new address space so it does not affect transactions on the current network.
Ethnews.com reports that “Taiwanese financial regulators are taking a page from the book of their Singaporean counterparts.”
On November 24, 2017, Wellington Koo, the chairman of Taiwan’s Financial Supervisory Commission, explained that on cryptocurrency matters, the agency will follow the lead of Singaporean regulators.
Koo also explained Friday that Taiwan will send an FSC official to discuss financial supervisory issues at a private-sector meeting in China. Financial regulators from Taiwan and China last met in 2015. While Taiwan appears relatively friendly toward blockchain and cryptocurrency development, China has notoriously forbidden token offerings (ICOs) and stymied cryptocurrency exchanges.
This appears to be good news. Singapore has been crypto friendly and Taiwan having similar policies is good for the cryptocurrency space in Asia and possibly could have positive influence for China.
Price Spikes and Panic Selling
Segwit briefly topped $11,000 in a week that has been strong for crypto markets across the board. DASH and other currencies are also performing well. What to make of all this volatility? Listen to the episode and hear what the hosts have to say.
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We would like to remind you that any content on the Neocash Radio podcast and/or website should not be regarded as financial or legal advice. Please be mindful of any and all regulations regarding cryptocurrency in your particular jurisdiction. Never invest/gamble more than you are willing to lose and always safeguard any digital currencies you own by keeping them in a wallet whose private keys you control.
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BTC Address: 1MmFwDeZPgxJ4GyzbfmZVLJv3aZcpxSfR5
ETH Address: 0xe4689EF88F239C6eed1Ff262876e2499495c1617
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