Daily Recap: UpBit Incident caused by misunderstanding while Bitcoin transaction fees are lowest since 2011

May 12, 2018

Bitcoin has dropped to its support level, one of the strongest ones. So, if you have any money left, this is a good time to buy. There are again great news across industry, even the UpBit issue in Korea seems to be just a misunderstanding.

Korea, Upbit update: The irregularity being investigated is in regards to liquidity issue. – The issue involves sharing/ pooling liquidity with other exchanges. It seems to be that the regulators did not understand the share liquidity.
Icon / The Loop – Signs MOU with Samsung Electronics – This deal means that Dapp Chain ID will be Installed on ALL PHONES. As a quick clarification, theLoop is the company that created ICON. This is a great step forward for adoption!
MyEtherWallet integrates Kyber Network Exchange – You can now trade ERC20s/ETH directly from MEW! Makes things a lot easier for the newer users. Now once they buy eth from coinbase, instead of having to sign up to exchanges – which might close registrations, they can instead transfer to their MEW wallet. Then go and swap to another ERC20 token with ease and a friendly interface.
Bill Passes Allowing Residents to Pay Taxes in Cryptocurrency in one US state – The state is Arizona and others might follow suit as Illinois is considering a similar bill.
Bitcoin transaction fees in sat/b have not been so low since 2011 – So low since 2011, while Segwit transactions are currently covering 32.11% of whole Bitcoin network. So try to imagine how unfairly cheap BTC transactions will be when SegWit eventually reaches 100% coverage of all Bitcoin transactions.