Squire Mining Aims to Aquire Coingeek.com to Form the Largest Mining Company
The mining hardware producer Squire Mining has signed a letter of intent to acquire Coingeek.com along with 1 million terahash/s of computing power. The letter is not binding and the managements of both companies are still in negotiations. A premature announcement from Coingeek.com yesterday suggested that the acquisition process had already been completed yesterday. However, the announcement was taken down yesterday. In its press release, Squire Mining declares that the new company “CoinGeek Technologies Ltd.” would be the largest public crypto mining company if the acquisition is successful.
SEC Now Targets Social Media Influencers Who Promote Cryptocurrency ICOs
The United States Securities and Exchange Commission (SEC) has been actively championing for regulation of cryptocurrencies. In a new drive of enforcement, the financial regulator targets social media influencers who promote cryptocurrency ICOs (initial coin offerings).
G20 Countries Agree on Intention to Common Regulation of Crypto
The G20 countries showed in their recent summit that they are willing to regulate the crypto sector. The summit ended on Saturday and took place in Buenos Aires. Countries like Japan, France, and Germany have been pushing for this since the beginning of this year. The common declaration states that they intend to apply according AML and CFTC regulations to the crypto sector and if need be further regulations. The country leaders, however, did not yet agree on an official agenda or a time frame for this intention.
Bitcoin Cash Developer with Strong Accusations Against Bitcoin Cash ABC
The anonymous developer _unwriter has published an article that received much attention on the blogging platform medium.com. The writer started his article “The resolution of the Bitcoin Cash experiment” stating that “Bitcoin Cash is too precious to throw away”. However, he has strong accusations against the developer team “as a group” as he writes.
He says that Bitcoin Cash has become everything that it criticized about fiat money or that the community declared as mandatory about Bitcoin. According to _unwriter, this can be summed up in 5 points. Bitcoin Cash has become censorable, centralized and unstable. Furthermore, it led to the death of “Permissionless Innovation” and anti Bitcoin maximalist. The anonymous developer explained that the Bitcoin Cash implemented the code that allowed for this due to the Bitcoin ABC team being “so afraid of an imaginary attack from SV that they made all kinds of mistakes”.