TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto update from your favorite reporter, Linzerd. The New York Times lists a blockchain related job offer. Ripple and Forte open $100 million gaming fund. LN routing problems cited by lead dev. Band of four involved on $200K double spending fraud in Canada. Bitcoin rally to end soon, according to Bloomberg, and BTC transaction of less than a dollar processed with $8K fees.
The New York Times Lists Blockchain Related Job
The New York Times posted a blockchain related job offer on a popular job platform, only to remove it moments later. The job seemed to be of a Lead position for Blockchain Exploration, and apparently would have the task of designing a blockchain based proof of concept for the news outlet. The offer is not available now, and it is listed as “expired” on Glassdoor.
Ripple and Forte Open $100 Million Dollar Fund For Blockchain Gaming
Ripple, the company that uses XRP for their products, and Forte, a blockchain based gaming tech provider, have partnered, opening a 100 million dollar fund to encourage programmers and developers to implement a blockchain platform for their gaming projects. The partnership will offer grants using Ripple’s tech to enhance their games. The partnership would be aiming to fund developers with more than 50K daily active users.
Lightning Network Routing Problems Listed By Lead Dev
Why is my node not routing?
1. You don't have inbound liquidity
2. Low uptime
3. Capital is committed to competitive destinations
4. Capital committed to destinations no one wants to send to
5. Fees are too high
6. Your inbound liquidity doesn't have good inbound liquidity itself
— Alex Bosworth ☇ (@alexbosworth) March 12, 2019
Alex Bosworth, a lead developer at Lightning Labs, the company behind development of the Lightning Network, has published a tweet where he lists the 6 most probable problems that cause LN nodes to not route payments. Lightning Network has faced heat due to its convoluted system of payment, and always under construction routing system it uses. It has been called out for not scaling well by knowledgeable crypto scientists like Peter Rizun. Despite listing the problems, Bosworth did not offer possible solutions.
Band of Four Responsible for $200K+ Double Spends in Canada
Four men are wanted for the theft of more than $200K in cryptocurrency from bitcoin ATM’s. These men allegedly used a feature designed to unstick pending transactions from the mempool called “Replace by Fee” to make double spends within the Bitcoin network. The subjects are reportedly responsible for more than 110 fraudulent transactions in six different cities in Canada.
Bitcoin Winning Rally to End, Bloomberg States
An article published by Bloomberg declares the winning rally Bitcoin has enjoyed this last month might be about to end really fast. According to sources, technical indicators are showing buying pressure long term is decreasing, something that could be the start of a selloff, causing a sharp decline in prices within the whole crypto market. Bitcoin had its first winning month this February, after a seven-month slump.
Bitcoin Transaction Of 0.0002 BTC Pays Almost 2 BTC in Transaction Fees
A Bitcoin transaction of less than one dollar was processed with an almost $8k transaction fee this Monday, an error that has been attributed to a “fat finger” mistake. This means the same sender made a mistake by inputting the wrong amount as a fee for the transaction. This kind of mistake encourages a better design for GUIs in wallet implementations to confirm transactions, especially when outrageous fees are possible.
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