August 1st: Bitcoin tops $2900 thanks to UASF

Bitcoin price rises above $2900 due to a successful UASF activation
01 August 2017   2046

The day has come. It is happening. 


Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

The Bitcoin scaling proposal UASF (BIP 148) was successfully activated on Tuesday, August 1, at block 478484. At the same time, the price of Bitcoin exceeds $2900.

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Distributed database that is used to maintain a continuously growing list of records, called blocks

There was a possibility that with the UASF activation there would appear a separation of the Bitcoin blockchain. Fortunately, this scenario was avoided due to the fact that BIP91 was activated on July 23rd.

Luke Dash Jr., Bitcoin Core developer, shared the news on Twitter:

Initially, UASF (BIP 148) was to serve as the beginning of the activation of Segregated Witness (SegWit) protocol. One of its features is that all user nodes signaling in support of UASF will start rejecting blocks that do not contain the same support at 00:00 UTC on August 1st.

As already mentioned, thanks to the activation of BIP91, this was avoided, and on August 8, the SegWit protocol is expected to be fixed.

SEC to Accuse Veritaseum ICO of Fraud

SEC believes that project's tokensale, thru which it raised $14.8M back in 2017-2018 had a signs of scam and company misled the investors
14 August 2019   182

The U.S. Securities and Exchange Commission (SEC) has sued New Yorker  and Veritaseum-related companies that have been caught by the agency in conducting an unregistered ICO with signs of fraud. It is reported by Cointelegraph.

According to documents published on the network, the SEC intends to hold Reggie Middleton accountable and immediately freeze the assets of Veritaseum Inc. and Veritaseum LLC.

The Commission claims that the defendants raised about $ 14.8 million through an initial coin offering (ICO) in 2017 - early 2018. At the same time, many investors were misled, as the company distorted information about the conditions of the token sale and deliberately hid some significant details.

The American regulator claims that the project still has about $ 8 million of illegally raised funds. According to the SEC, these assets must be frozen immediately.

Amid this news, the Veritaseum (VERI) rate has fallen by 70%. Now the coin is trading near the $ 5 mark, although at the beginning of 2018 its rate was approaching $ 500.

Veritaseum was created as a financial p2p platform, involving the movement of capital without traditional intermediaries. Also, VERI was positioned as a utility token for use in consulting services and access to various research works.

In 2017, Veritaseum blockchain startup fell victim to hackers, having lost $ 8.4 million from ICO investors.