Russian Crypto Plot, China Mining U-Turn, Lottery Winner’s BTC Gamble: Hodler’s Digest, Nov. 4–10

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Russia: New law would let police confiscate Bitcoin from 2021 We begin in Russia, where the government is pursuing a seemingly impossible law that would allow it to confiscate Bitcoin (BTC). Reports suggest that the plans, which target “digital assets,” could become law in 2021.…

IDEX Claims Creation of ‘Infinite Scaling Solution for Ethereum’

IDEX, the decentralized exchange (DEX) responsible for over 40% of all DEX transactions, claims to have created an “infinite scaling solution” for the Ethereum network. 1,000 times faster In an email sent to Cointelegraph, IDEX claims that its system, dubbed Optimized Optimistic Rollups (O2Rs), reaches block finality in 10 minutes. The company also says that this is about 1,000 times faster than the Optimistic Rollups (ORs) developed by Ethereum scalability development organization Plasma Group — which achieves block finality in two weeks. Rollup solutions scale by moving computation off-chain and…

Scale of OneCoin Scam Unravels Amid Ongoing Court Hearings

With each passing day, the financial nitty-gritty associated with the cryptocurrency-related OneCoin Ponzi scheme continues to become of increasing interest to members of the global crypto community.  The U.S. government’s previous estimate of the scam that raked in a total of $4 billion seems to be well off the mark, as the figure could be more than three to four times the official estimate — this is according to Jamie Bartlett, the person responsible for the BBC’s podcast series The Missing Cryptoqueen.  As part of the show, Bartlett and his…

EIDOS Airdrop 95% of Transfers

The EOS blockchain is congested by the EIDOS token airdrop, cryptocurrency exchange Coinbase reports on Nov. 9. In a post on its blog, Coinbase claims that it had trouble in processing its clients’ transactions due to EOS network congestion caused by the EIDOS token airdrop. The exchange has since solved the issue by increasing the amount of staked CPU, securing a sufficient portion of the CPU time remaining on the network to process its transactions. Interestingly, the incident also caused the price of CPU time on the network to increase…

Why Bitcoin’s Next ‘Halving’ May Not Pump the Price Like Last Time

Noelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. To find out more about crypto valuation metrics, download our free report here. Whether you call it the “halving” or the “halvening,” one of the few things we can be sure of in crypto is that the conversation around bitcoin’s upcoming reduction in…

Hopefully We Can Interoperate With China’s Crypto

Ethereum co-founder and founder of Consensys, Joseph Lubin, said that he hopes China’s Central Bank Digital Currency (CBDC) will allow for interoperability with public permissionless blockchains, including Ethereum. Ethereum is “a very positive virus” Lubin made his remarks during an interview with Forbes published on Nov. 9. He explained: “I assume it is going to be exactly what Chinese leadership thinks is most beneficial to Chinese leadership. Hopefully that’s also open and we can interoperate with it, but I don’t know.” Furthermore, Lubin added that he would like to see…

$500K Bitcoin Price ‘Flippening’ of Gold Will Come by 2028

Bitcoin (BTC) will surpass the market cap of gold and could ultimately be worth $1 million, well-known industry figure Bobby Lee has said.  In a series of tweets on Nov. 10, Lee, who co-founded Chinese cryptocurrency exchange BTCC and now runs a Bitcoin wallet startup, became the latest voice in the expanding debate on Bitcoin versus gold.  Lee: BTC market cap to hit $8 trillion Gold’s market cap is $8 trillion, while Bitcoin’s is just $160 billion. While around fifty times lower at present, Lee thinks a reversal could come…

Ethereum Price Weekly Forecast: ETH Holding Uptrend Support

ETH price declined recently below the $188 and $186 support levels against the US Dollar. The price is still trading above the key $180 and $178 support levels. There is a crucial bullish trend line forming with support near $180 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase as long as there is no daily close below the $178 support. Ethereum price is currently holding a significant support against the US Dollar, while bitcoin is declining. ETH price is likely to…