Flooding on mining farms, new laws for ICO and Nakamoto's autobiography

Flooding on mining farms, new laws for ICO and Nakamoto's autobiography

This week, the blockchain community discusses the mysterious fall of the bitcoin network hash rate, new ICO laws in Thailand and the autobiography of Satoshi Nakamoto. Learn more about the hot news of the week in our digest.

Satoshi Nakamoto will reveal himself?

Nakamotofamilyfoundation.org published information on the upcoming publication of a book about the legendary creator of bitcoin. The publication says that the book, authored by Nakamoto himself, will reveal the secret of his personality and tell about those who stayed behind the development of the first cryptocurrency.

The first chapter of the autobiography has already appeared on the net. On behalf of Satoshi, it tells his thoughts during the creation of the cryptocurrency; reveals researchers and developers, on whose works the blockchain system is based; narrates about the enthusiasm of the main hero, which preceded the blockchain launch.

Crypto community has reacted to the book ambiguously. Some users noted that it doesn’t look like the Bitcoin’s White Paper.

The largest bitcoin farms suffered from flooding

There were reports that a flood in the province of Sichuan destroyed several bitcoins farms. In particular, it was written on Twitter by Eric Meltzer, partner of the blockchain fund INBlockchain, and bitcoin evangelist Stepan Gershuni. Official sources, including the China News Service (ECNS), reported on the floods in several provinces of the country. It is said that the disaster was caused by heavy rains in Anhui, Jiangsu, Sichuan, Shandong and Jilin.

According to Blockchain.info, on Wednesday, there was a drop in the bitcoin hash rate by approximately 30%. However, this is much more than the productivity of all farms in Sichuan.

Former DPR militant will buy a crypto exchange

Dmitriy Khavchenko, ex-militant of the Donetsk People’s Republic, known as “Moryachok”, intends to conclude a deal with the CEO of the WEX crypto exchange, Dmitriy Vasiliev. The subject of the agreement is the WEX exchange, the former BTC-e, and the agreement price may amount to several million dollars. RBC has conducted its own investigation on the issue.

According to the publication, the agreement on intentions was signed by the parties in April. Dmitriy Vasiliev confirms the fact of negotiations, and Dmitriy Khavchenko confirms his intention to buy the stock exchange. The latter claims that he will make a purchase at its own expense.

In the summer 2017, the accounts and servers of the exchange were arrested. Later on, the platform was purchased by new owners, and it was renamed as WEX.

SEC of Thailand will ban ‘disapproved’ ICO

Since July 16 in Thailand, new laws on the ICO come into force. According to them, the release of tokens is allowed only to companies registered under the laws of Thailand and approved by the SEC. One of the mandatory rules: the minimum authorized capital should be 5 million baht (about $150 thousand).

Under the new rules, companies will have to register on a special portal. The commission will monitor the financial reports of the ICO, the structure of project management and compliance with the roadmap. The regulator also plans to check the source code of the information being checked.

It is interesting that the new law also specifies ‘approved’ cryptocurrencies, in which ICOs can accept investments, and there are only seven of them: Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin, Ripple and Stella. None of their ‘anonymous’ currencies were included in the list. ICO initiators can also accept investments in baht.

Prices for video cards will go down

The fall of the cryptocurrency market, which we see today, will lead to a decrease in the demand for video cards and miners, analysts say. According to a forecast, the decline will occur in July and amount to 20%.

The decline in sales affects the profits of companies such as Asic, Nvidia, AMD. It is supposed that Nvidia postpones the release of next-generation video cards, and AMD may face a fall in the share price, due to the current situation on the market.

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