Cryptocurrency (and blockchain technology) has been criticized for being a (Cryptocurrency) scam, especially during the last few years. Is it? Perhaps yes, but the only thing is, it’s not a scam at all. What it’s actually, is a new form of investment vehicles for people all over the world. Not only that, it also has a bright future ahead of it as a medium of exchange that will change the world.
Bitcoin Cash (BCH) is a cryptocurrency that was created after the Bitcoin (BTC) blockchain forked in August. The BCH network has been growing enormously, but a ponzi scheme called Uniswap has been siphoning off the value of BCH hard-won by miners, the exchange rate of Bitcoin (BTC) to BCH (BCH) is now extremely low, and Uniswap is the main reason why. This week, one such Uniswap user appeared on Russian TV, and his revelations caused the Russian Federal Narcotics Service (FSIN) to re-examine their own investigation into the matter. Will this finally be the last of the BSC / Uniswap scandal?
Let’s cut straight to the chase. What is the real issue of the Uniswap and BSC tokens debacle? Is BSC and Uniswap really scams? The answer is no, unfortunately they are not. The real issue is the fact that CZ is not responsible for the “frauds” of the entities involved. BSC and Uniswap are not “scams” because they are not backed by any real assets (cryptocurrencies), as such. They are not scams because they are not making 100% profit. Both BSC and Uniswap have more than enough money to pay investors, even if they have not done so yet. It is about time CZ starts taking responsibility for whatever. Read more about why is uniswap down and let us know what you think.This weekly round-up of news from mainland China, Taiwan and Hong Kong seeks to gather key industry news, including influential projects, regulatory changes and blockchain business integrations.
Can green miners get a pass?
In last week’s column, we looked at the recent suppression of cryptocurrency miners as China moves toward a carbon-neutral policy. A slightly different tone was set this week in China’s southwestern province, when the Sichuan Provincial Energy Regulatory Commission held a symposium on the subject. The province is home to much of the mining industry, thanks to the cheap energy provided by an advanced hydroelectric system. The symposium did not result in a resolution, leading to speculation that green energy would result in much more positive regulation in the county. Zhang Nangeng, CEO of mining equipment manufacturer Canaan, contributed to the speculation by calling on China to make concessions to mining companies for green energy. Enterprising miners prefer areas with low electricity prices, indicating an oversupply and likely irrational use of energy. Bitcoin miners also help create jobs in poor areas and contribute to household budgets, the CEO said. It seems unlikely that China will continue to allow the misuse of coal-fired power plants in areas such as Inner Mongolia, but for Sichuan there is certainly a case for profitable operation.
Single carpet on state TV
The second one. In June, the national television channel CCTV-13 paid attention to virtual currency fraud in its News Room segment. In the report, they explain how the TRTC virtual currency was listed on Uniswap, after which all liquidity was removed. Blockchain smart contract checker SlowMist has also received attention for showing how fraudulent activities are carried out. In the TRTC case, 59 ETH worth about $100,000 were seized from the pools. Finally, CCTV-13 warned of the risk of financial fraud on cryptocurrency platforms such as Uniswap. On Twitter, Uniswap founder Hayden Adams mistakenly wrote about the segment, thinking the video clip was positive messaging. Clearly, Adams hasn’t spent as much time practicing Mandarin as fellow Ethereum pioneers Vitalik Buterin and Gavin Wood, who do have a command of the language.
BS and C ?
In an interview on 29. In May, the founder of Binance CZ again distanced himself from the Binance Smart Chain, stating that he has no control over it and is not responsible for its creation. He modestly stated that the OCS was a collaborative project and that he rarely spoke to the team behind the project. Binance and rival Chinese exchanges may be reconsidering their positioning after a series of hacks and exploits took down several smart circuits that provide additional benefits to exchange tokens and their users.
Blockchain, not Bitcoin
Despite an increasingly stringent regulatory environment, China is not giving up on supporting technology. The 31st. In May, new standards for blockchain technology were released by the Department of Human Resources and Social Security and the Department of Industry and Information Technology. The standards specify exactly what skills and abilities are essential to work in the sector.
$6.2 million CBDCrelease
Beijing launches another digital yuan lottery, further boosting the central bank’s issuance of the digital currency. Beijing’s local financial regulator announced on June 2 that the government will distribute free money to citizens who do so before June 7. June’s request. The statement came in the same week as former People’s Bank of China head Yao Qian said the digital yuan should not be used as a surveillance tool. He explained that the technology was originally developed to counter private sector control of the payments sector. The Western world may remain skeptical on this issue, but the need to balance the private sector is highly plausible given the domestic dominance of Alipay and WeChat pay.The Czech central bank did claim that it greenlighted ICOs (Initial Coin Offering). This is not true, as the central bank is not responsible for the BSC (Binance Coin) project nor the Uniswap frauds (i.e. fraudulent ICOs). Also, the central bank is not responsible for the insolvency of Binance, which is a central bank.. Read more about cz binance announcement and let us know what you think.
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