Crypto News | Bitcoin Code Changes

Things are looking up in the magical world of cryptoland! The market is well on its way towards making a full recovery, with Bitcoin in particular looking steady around $11.5 thousand. The renewed confidence may in part be due to upcoming Bitcoin code changes. The changes should in large part resolve the longstanding issue of scalability by adding a new layer to Bitcoin’s blockchain technology, making the technology both faster and cheaper. The new code will be released as 0.16.0 – Bitcoin’s 16th major release. The Bitcoin code changes will revolve around making SegWit the norm and introducing SegWit addresses as default addresses.

In a similar vein, the developers of Bitcoin are debating whether changes should be introduced to Bitcoin’s open source MIT License. Fueled by bad blood between Bitcoin and Bitcoin Cash, changes to the way the License is worded would prevent new forks, especially forks seen as opportunistic and exploitative, leeching off Bitcoin’s success. Most developers, however, are against the changes, since they view meddling with Bitcoin’s License as an even greater attack on Bitcoin.

Apart from the code improvements and the constructive debates, the upswing in the cryptocurrency market may also be due to a lot of countries looking favorably at crypto as of late. Spain, for example, is looking to attract investments from companies using blockchains. A new bill has been proposed, promising tax breaks and exemptions for companies using cryptocurrencies and blockchain technology. And it’s not just Spain. In the US, a new bill would have the state of California update its electronic record laws to legally recognize smart contracts and blockchain signatures. Similar laws have already been passed in Arizona and Florida recently.

Perhaps prompted by these good news, an anonymous buyer bought $400 million worth of Bitcoin between February 9 and Feb 12. So far, the buyer has gained more than $83 million, so def worth it!

So yeah, things are going great – and when things are going great, you know everybody wants a piece of the cake. Enter Steven Seagal, Buddhist, Zen teacher, healer, action movie star and … Bitcoiin 2nd Generation crypto currency worldwide ambassador? Not the weirdest thing Seagal has done, but it does little to bolster the new crypto’s legitimacy. Many fear that the ICO is a scam, considering how little info the White Paper has to offer and since the purpose of the coin is unclear.

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Author: Max Rothstein
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