Bitcoin Cash Network hardfork implemented

Own Bitcoin Cash hardfork will not release new tokens; it is aimed to provide a new complexity recalculation algorithm
14 November 2017   2535

The Bitcoin Cash hardfork was held, as planned, on Monday, November 13, at block 504031, however, this event occurred a few hours after the previously announced time.

This fork is aimed at improving the existing complexity algorithm and assumes, among other things, a predictable time for confirming transactions on the network. According to the idea of ​​the developers, this parameter will be 10 minutes.

In addition, new features should help to avoid sudden changes in complexity with a relatively stable hash and perform a quick recalculation of the complexity with its rapid change. It is also expected that after the fork, the Bcash network will become resistant to certain attacks, for example, by manipulating timestamps.

It should be noted that by the moment of fork the profitability of BTC mining was 3 times higher than the similar indicator of BCH. This index is calculated on the basis of such factors as the amount of commissions, the market rate and the complexity of mining. At the moment of press this index reduced to 1.26.

Mining profitability
Mining profitability

On the eve of today's event, the price of Bitcoin Cash, having demonstrated unparalleled growth over the weekend, updated the historic high ($ 2477.65 on Coinmarketcap).

Bitcoin Cash price chart
Bitcoin Cash price chart

This was followed by an equally impressive fall: at some point on Monday the price of the coin fell to $ 1043. By the time of the fork, the BCH rate had risen to $ 1,436. At the moment of press, average BCH price is $1254.69.

Dutch Authorities to Shut Down Bestmixer

The service is accused of launder over $200M worth crypto with coin "mixing" - spliting the amount and mixing it with other coins from different sources
23 May 2019   411

The Bitcoin mixing service Bestmixer was forced to cease operations after a nearly one-year investigation of money laundering charges. It is reported by Bleeping Computer.

Like other similar services, Bestmixer.io split the amount in bitcoins into smaller transactions and mixed them with transactions from other sources in order to hide their origin, and then transfers the entire amount minus the commission to the final address.

It also offered similar services with Litecoin and Bitcoin Cash.

The investigation believes that service customers could launder money through cryptocurrency.

Bestmixer offered a very clear page on why someone should mix their cryptocurrency. On this page Bestmixer described the current anti-money laundering policies and how its service could help evade these policies by making funds anonymous and untraceable. Offering such a service is considered illegal in many countries.
 

John Fokker

Head of Cyber Investigations, McAfee

Bestmixer was opened in May 2018. For the year of its existence, its turnover amounted to about 27,000 BTC (approximately $ 200 million). Fiscal Information and Investigation Service claims that a significant part of the funds passed through the mixer was obtained as a result of conducting illegal activities or was used to finance criminal gangs.

Policemen confiscated a domain and six servers in Luxembourg and the Netherlands. In addition, they got access to all transactions carried out using the service, cryptocurrency and IP-addresses, as well as messages from the chat. This information is currently transmitted to Europol.