Breaking: Bitcoin split on 478558

Bitcoin hard fork activated: the split happens on 478558 height
01 August 2017   1907
Blockchain

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

The Bitcoin blockchain hard fork finally happens: SegWit opponents launch a user-activated hard fork (UAHF) to create Bitcoin Cash, a cryptocurrency competing with Bitcoin. 

Bitcoin

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

Reports on the fork happened began to come immediately:

Bitcoin split on reddit.com Bitcoin split on reddit.com

Bitcoin split on reddit.com Bitcoin split on reddit.com

The cryptocurrency exchanges' reaction was not long on coming as well:

However, at press time, the Bitcoin blockchain is six blocks ahead of the Bitcoin Cash blockchain. Jameson Lopp, BitGo engineer and CoinDesk contributor, tweeted:

It's likely going to take at least several hours.
 

Jameson Lopp
BitGo engineer and CoinDesk contributor

Yet the split is far from complete.

Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

Since Bitcoin Cash has about 1% of the computing power that the main bitcoin network has, it might even take 24 hours to mine a new block, argues Jeff Garzik, a former contributor to Bitcoin Core:

Thus, the key question from Tone Vays, a consultant in the realm of Economics, Finance, Blockchain and Bitcoin, remains:

How long do you continue mining Bitcoin Cash without collecting rewards?
 

Tone Vays
Consultant in the realm of Economics, Finance, Blockchain and Bitcoin

The Bitcoin Cash network now has more than a thousand nodes, with the chain-split seemingly going through smoothly at this stage. What the future has in stock for it, remains to be seen.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.