"There is no such thing as consensus on the Lightning Network; instead, we have compatibility. That means you can literally break the rules of the majority, as long as there are other people that have an incentive to break the rules with you. "
The Financial Crimes Enforcement Network has issued new “interpretive guidance” about how its regulations apply to businesses that conduct money transmissions in virtual currencies. What do you need to know?
Bitcoin can be quite useful for criminals, much like physical cash. However, the permissionless nature of Bitcoin also enables other valuable use cases for this new technology.
In early March 2019, Coinberry provided the technology, infrastructure and implementation for the town of Innisfil, a government municipality in Canada, to start accepting tax payments in bitcoin. What's next for governments?
Craig Wright insists that he's Satoshi Nakamoto, the pseudonymous inventor of Bitcoin - but the evidence doesn't seem to line up. Jameson Lopp breaks down the arguments against Wright's claim in this feature op ed.
This is still a long way away, but there is even a possibility that bitcoin will test the $5,000 range as this is the price target for the macro symmetrical triangle consolidation.
The question here is whether bitcoin mining is a single point of failure. Could a government or other authority control Bitcoin through controlling a single entity in mining? What would it actually take to “take over”?
"If we don’t finish freeing ourselves with the open, permissionless, decentralized blockchain, they are going to imprison us with the closed, permissioned, centralized blockchain," says Nick Spanos.
Tax accountants and firms that specialize in cryptocurrency will emerge to capture and service this market. The first movers will be the ones who stand to capture the oversized profits.
