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The price of Bitcoin Cash surged nearly 40 percent on Friday as investors pulled money from bitcoin. In total, seven of the top 10 cryptocurrencies were down in price on Friday. Bitcoin Cash has been gaining momentum since last week when its developers announced a hard fork to optimize its mining algorithm.
The hark fork is to be implemented on Monday. Parity Technologies will not push for an immediate hard fork to recover the millions of dollars frozen after a vulnerability was triggered.
Afri Schoedon, technical communications lead at the company, said the issue may be addressed at a later date. That could include as part of the already planned ethereum upgrade Constantinople set for next year. While those involved have made it clear a hard fork is needed to free up the funds, Schoedon said Parity has "plenty of time" to find a solution that would be "backed by major parts of the community.
Treasury Secretary Steve Mnuchin said the government has formed working groups to look into stemming the use of bitcoin to illegally transfer funds. Mnuchin did not give a timeline for an official government position but said he has discussed the topic with his counterparts in other countries. Davidson analyst Tom Forte believes shares of Overstock. Forte said that Overstock indicated in an earnings call that it could sell its home e-commerce business.
Forte believes the market does not fully appreciate the value of Medici Ventures, which Overstock launched in Overstock is one of few major online retailers that accept bitcoin as payment for its goods, a move that many believe will one day push Amazon to do the same.
Bitcoin has exceeded the price project of that model in recent weeks. FundStrart believes a short-term correction is likely coming, but remains positive on the long-term future of bitcoin. He lost 40, coins when Mt.
He bought 30, more coins a few months later. Rob May's roundup of stories and commentary on Artificial Intelligence, Robotics, and Neurotechnology. Share via Tell a friend. Inside Facebook Facebook's mission is to connect the world's people. Ours is to keep an eye on them. Inside Bitcoin Tracking trends, news, and analysis around Bitcoin and cryptocurrencies.