Bitcoin Gold: new Bitcoin fork?

A new "golden" cryptocurrency may fork from Bitcoin in October
29 September 2017   3139

Following the events of this summer, which were connected with the appearance of Bitcoin Cash and information about a possible new SegWit2x hardfork, another project with Chinese roots appears. As reported by coindesk.com, the project named "Bitcoin Gold" aims to follow a similar launch plan as Bitcoin Cash, i.e. to split from Bitcoin main chain.

As detailed, the Bitcoin Gold separation from the original Bitcoin chain is scheduled for October 25th. It is believed that the new tokens are to be traded on the exchanges on November 1st. The projct is to be led by Jack Liao, CEO of Hong Kong mining firm LightningASIC.

In particular, the developers hope to open up mining to more participants by replacing Bitcoin's mining algorithm with one that will enable it to be mined with graphics cards. The idea is to make big miners less relevant.

Bitcoin gold will implement a proof-of-work change from bitcoin's SHA256 to Equihash, a memory-hard algorithm that is ASIC-resistant and optimized for GPU mining.
 

"The Sorrow"
Bitcoin Gold developer

Bitcoin Gold has its own website, however visiting it is unlikely to shed additional light on the project.

The project has already faced some criticism. Thus, Zhao Dong, a cryptocurrency trader and investor argues that "GPU mining can't prevent centralization as GPU are controlled by Nvidia and AMD". 

 Bitcoin price chart on coinmarketcap.com Bitcoin price chart on coinmarketcap.com

What the future has in stock for Bitcoin and Bitcoin Gold, remains to be seen. Meanwhile, the top cryptocurrency price is about $4173.97, it's market capitalization is $69,257,899,504.

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   197

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.