Spoken News: 16 September
Bitcoin Cash’s Roger Ver: Use LTC instead of BTC
Bitcoin Cash, community member Roger Very has once again criticised Bitcoin and said people should use Litecoin, instead of Bitcoin.
Speaking at Coinsbank Blockchain Cruise, Ver said Bitcoin was not a peer to peer network during 2018 and excessive transaction fees were harming their overall brand. Ver added Bitcoin was dead back in 2011 and continued:
“Can you believe it? The BTC core developers totally forgot what the original Bitcoin stood for. Last year the transactions on the blockchain had an average transaction fee of $50. That is crazy!”
Ver also said there’s a reason why Litecoin is getting a lot of praise recently and said they are the better money in terms of as a medium of exchange than Bitcoin and people should use Litecoin instead of Bitcoin.
65 Cases: Blockchain Going Strong
World Economic Forum Foundation has outlined more than 60 Blockchain use cases to solve the ongoing and most depressing environmental issues.
Their report titled Building Blockchains for a Better Planet, and they went onto say that Blockchain could help them to solve ongoing environmental issues such as new supply chains, decentralized energy and clean water.
WEF also added that completely new Blockchain products could also be used in the future as they described the future productions as game changers.
WEF also outlined their thoughts about Blockchain and said the technology is a little bit hyped due to excessive demands of cryptocurrency community. They said the people need to ask three questions when evaluating technologies. The first of them is can the technology solve a specific problem, the second is, can the risks of unintended consequences can be managed acceptably, and the thirds is whether a functioning system available to achieve that.
Binance to Open Exchange in Singapore
The world’s biggest cryptocurrency exchange Binance, set to launch a new exchange in Singapur, Binance CEO Changpeng Zhao confirms.
Zhao was at Singapur for Blockchain conference and after that, he tweeted:
I just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days. Invitation only first. Exciting!
Exchange set to open in two days but the beta platform will only be available to those who earned a special invite. Although the reports still unconfirmed, the sources stating that Singapur Dollar will be available at the exchange as Binance continues to launch more and more fiat trading options to its clients.
T-Hub CEO Got it Wrong, Said Bitcoin Transaction Fees $20 Right Now
The CEO is of India’s biggest startup incubator, T-Hub said Bitcoin failed due to high transactions fees. T-Hub CEO Jay Krishnan has spoken in the local event and said:
“The fallacy of Bitcoin as a currency is its transaction fee which is typically above $20. The transaction fee is paid to ensure convenience and security in the exchange. This is not only higher than the transaction fee paid for regulated currency but is also an indication of the security risk it holds”
But in fact, the Bitcoin transaction fees are considerably lower than what he thinks and this false statements understandably created an anger in the Bitcoin community. If you look at the charts, you can see the average price of a Bitcoin transaction is lower than $0.2 and this figure is almost 100 times lower than what Krishnan thinks.