Cryptocurrencies: Did Venezuela Just Hardfork Petro To Challenge Bitcoin Dominance?

Cointelegraph is reporting that Venezuela’s government might have performed a hardfork on its cryptocurrency the Petro, in order to make it more attractive to Venezuelans who massively depend on rival cryptocurrency Bitcoin.

Source:

https://cointelegraph.com/news/venezuela-appears-to-have-hard-forked-the-petro

A hardfork is a blockchain programming process that often creates a new cryptocurrency.

For instance, the Bitcoin Cash is the result of a hardfork of Bitcoin by cryptocurrency progammers.

And the Hive blockchain is the result of a hardfork of Steem by dissatisfied community members of the Steem blockchain in reaction to the takeover by Tron’s Justin Sun.

A word of warning: Their are still so many tricksters in the cryptocurrency sector. If you must invest, it is advisable to invest only money you can afford to lose.

STEEM Community Old Guard To Begin Great Trek From Steemit.com To Hive.io

The old guard of the STEEM community opposed to the new order of Justin Sun of Tron are preparing for a Great Trek away from Steemit to Hive.io, their new home. Community sources confirm there will be a hard fork away from Steemit on Friday.

Hive.io comes with its own blockchain, the Hive. Snapshots of loyal Steemian accounts have been scheduled. Honey 🍯 drops will be airdropped into such accounts, while accounts of pro Sun Steemians are not likely to get honey.

This reminds me of the Afrikaanar Great Trek to Transvaal after the Afrikaanar defeat in the hands of he British Huitlanders. It also reminds me of the Maoist Long March in China after a major defeat in the hands of Chiang Kai Chek’s Nationalists.

It also reminds me of the May Flower, the Pilgrim Fathers leaving England to settle in America after disagreements with the English monarchy.

I will be watching to see if the special relationship between England and America is replicated between the STEEM and Hive communities. Over and out.

Steemit’s Old Guard Recpature Concensus Network As Tron’s Sun Losses Exchange Support

Yesterday, we brought you news that forces aligned with Tron Network’s Justin Sun in a surprise move, took over the Consensus Network of the Steem blockchain, dislodging the top 20 witnesses that lead the online crypto community.

Well, since then there has been a reverse, as 2 of the 3 big exchanges that enabled Sun take over withdrew their critical support.

Binance and Huobi withdrew support, while Poloniex which is more linked to Sun maintained its support for the crypto warrior.

In a Tweet Binance’s CEO, Changpeng Zhao explained that the exchange isn’t really interested in blockchain governance.

This enabled the Steem Old Guard to quickly reelect enough witnesses to nullify Sun’s ⛅ move.

Peace talks, called a virtual townhall meeting, will be held on Friday.

See more details of what went down.

Background

Tron Newtork’s Justin Sun bought crypto site Steemit.com from Ned Scott. But members of the community who hold Steem are resisting the people from Tron in what they see as a hostile takeover or invasion.

These dramatic actions may be delaying the launch of Smart Media Tokens which have the power to bring cryptocurrencies and the media together.

Despite Opposition From Governments, Facebook Goes Ahead With Libra Cryptocurrency

Despite massive opposition from Western Governments like France and the US Congress, Facebook has announced plans to go ahead with a new version of its planned cryptocurrency the Libra, reports the BBC.

Will Libra Make Bitcoin A Small Part Of An Expanding Pie?

Continue reading “Will Libra Make Bitcoin A Small Part Of An Expanding Pie?”