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Zclassic (ZCL) Explodes Due to Bitcoin Private (BTCP) Hard Fork

Zclassic Fork to Bitcoin Private (BTCP)

Zclassic (ZCL) is forking into Bitcoin Private (BTCP) in late January causing a huge spike in ZCL price.  Fork block is still TBD.

South Korea Crypto Regulations Leaked

Leaked Cryptocurrency Regulations for South Korea

The South Korean Government’s crypto regulations have leaked.  Will these regulations bring down crypto prices?

Bittrex Finally Responds To Identity Verification Delays

Bittrex Identity Verification Delays Official Response

I received an email last night from Bittrex in response to the identity verification delay problem.  Bittrex wrote:


Over the past couple of months, Bittrex has been in the process of improving its identity verification procedures.  There are a number of reasons to improve our processes, including that improved identity procedures help protect Bittrex users from theft and fraud, and prevent abuse of the Bittrex platform.  In addition, Bittrex must comply with the Bank Secrecy Act, U.S. economic sanctions laws, and other legal and regulatory requirements.  Bittrex takes these compliance obligations seriously.  We are committed to making sure our services are not used to launder money, support terrorism, commit fraud or other illegal activities.
We understand that our verification process can be frustrating or a hassle.  We have heard your complaints and are working promptly to address each individual support ticket in our system.  But, we cannot do this without the help of our customers.  We have provided below a list of common mistakes or issues that arise during our improved identity verification process that tends to increase the delay in completing the process successfully:
  1. Creating multiple accounts associated with a single individual or entity:  Unless you have received prior approval from Bittrex, our system will disable all additional accounts associated with a single individual or entity.  This issue needs to be resolved manually by our support staff.  Given the necessity of manual intervention and the number of tickets we have received lately, there have been significant delays in resolving these issues.  Please do not create multiple accounts.
  2. Name mismatch: If your government issued ID has a different name than the one you provided to Bittrex, your account will not be able to withdraw funds until we resolve the name mismatch.  This issue needs to be resolved manually by our support staff.  Given the necessity of manual intervention and the number of tickets we have received lately, there have been significant delays in resolving these issues.
  3. Unreadable IDs: If your ID is not readable or otherwise unable to be verified as a legitimately issued government ID, we will not allow you to proceed with our improved identity verification process.  Please ensure that the picture of your government issued ID is clear.
  4. Non-Latin characters on the Government IDs:  There are some countries where government IDs do not support the Latin character set.  For these IDs, there are additional steps that Bittrex will need to take to verify the information on the ID, often including manual intervention.  Given the number of tickets we have received lately, there have been significant delays in resolving these issues.  Using international passports generally makes the process move more smoothly as these passports support Latin characters.
  5. Opening multiple support tickets: We have noticed that users are opening multiple tickets with regards to the same issue.  While we understand that the delay can be frustrating, please do not open multiple tickets for the same issue as this will cause your support request to be delayed.
Although this is not an exhaustive list, we wanted to provide some context for the delay in responding to individual support tickets.  We trust that you understand Bittrex is committed to following the law and ensuring that it has a robust compliance program.  We ask for your patience and cooperation throughout this process.
The Bittrex Team

Super Bitcoin (SBTC) Hard Fork: Happening Around Dec. 17, 2017

Super Bitcoin Fork Happening Soon

Super Bitcoin (SBTC) is set to hard fork from Bitcoin (BTC) at block 498,888 which will happen around December 17, 2017. Super bitcoin plans to implement smart contracts, lightening network, zero-knowledge proof, and an 8MB block size, making it super smart Bitcoin.

TechCrunch Founder All In on Cryptos

TechCrunch founder, Michael Arrington, is all in on cryptos.

Arrington said “In the last several months, I’ve gone from crypto enthusiast to 100 percent crypto. I’ve only been looking at crypto deals. This is what I think I’ll be doing the rest of my career.” Arrington thinks the $300 billion crypto market is only the beginning stating, “I seriously think that we’ll be in the trillions next year, and that we’ll start to see institutional money,” he continued. “I think next year you’ll see significant gains.”

Bitcoin Diamond Fork Successful

Bitcoin Diamond (BCD) Forks From Bitcoin

The Bitcoin Diamond fork occurred at block 495866. For every 1 BTC held at supported wallets or exchanges, you will receive 10 BCD.

Bitcoin Cash (BCH) is Hard Forking in November 2017

Bitcoin Cash Hard Fork

Bitcoin Cash is set to be hard forked in November 2017.  The BCH hard fork will attempt to reverse the emergency difficulty adjustment (EDA) rule which was used to attract miners to the Bitcoin Cash network.  A new algorithm would be put in its place that would adjust every 600 seconds, based on the amount of computing power that was provided to the network over the previous 144 blocks.  Check out the video to learn more.

Bitcoin Silver (BTSI): Another Bitcoin Hard Fork

Bitcoin Silver Hard Fork

Bitcoin Silver (BTSI) is another proposed hard fork of Bitcoin. Bitcoin Silver implements a new PoW algorithm, Equihash, with a 30 second block time. The fork is planned for some time in December. Bitcoin Silver is very similar to Bitcoin Gold with a change in block time to 30 seconds.

Bitcoin Gold Under Attack

Bitcoin Gold Website Down

The official Bitcoin Gold website is down due to a DDOS attack.  The BTG team says the website is receiving 10M requests per minute and says they are working to get the website back up.

Bitcoin Gold Problems

Problems with Bitcoin Gold (BTG)

Bittrex will not initially be opening a trade market because of the issues Bitcoin Gold has.  Bittrex says

“At this time, the information and codebase presented by the Bitcoin Gold team is not in a functional state and Bittrex will not commit to opening a Bitcoin Gold trading market.

Bitcoin Gold intends to perform a wallet balance snapshot at Bitcoin block 491,407 but the actual Bitcoin Gold network will launch publicly at a later undetermined date and time (the only guidance is the statement “after the launch on Nov 1”).

Bitcoin Gold does not currently have:

  • Fully formed consensus code
  • Implemented replay protection
  • Adequate code for testing and auditing
  • Publicly known code developers

Bitcoin Gold codebase also contains a private premine of 8,000 blocks (100,000 BTG). Please be aware that if a market does open there is a possibility of the developers selling their premined BTG on the open market.

When considering adding tokens to Bittrex exchange we look at the risks involved. Bitcoin Gold does not satisfy our criteria for safety for our users. Taking a snapshot of the Bittrex exchange Bitcoin wallet is also a large disruptive undertaking that requires over 24 hours of preparation (Bitcoin deposits and withdrawals are also suspended during this time) and should not be taken lightly.

Bittrex will close deposits and withdrawals of Bitcoin 24 hours prior at block 491,263 to the BTG snapshot block 491,407 occurring approximately on October 23, 11pm PT (6am UTC). If any BTC deposits you had sent to Bittrex are not settled (e.g. marked as pending) by block 491,263 you may not be credited with BTG. The wallet will remain closed until the on-exchange snapshot is complete. Trading will remain active during this time.

Bittrex will make all reasonable attempts to credit our users BTG but until we have a fully supported wallet, we can neither guarantee tokens or consider creating a market. We will continue to monitor the state of the codebase and network. We’d also like to encourage the BTG development team to reach out to us.”

Ledger Nano S - The secure hardware wallet