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On the evening of October 12th, local time, Wilders, leader of the far-right Dutch Freedom Party, posted on social media that the Dutch National Intelligence Service had officially informed him that he was being targeted by a terrorist organization. As a result, he had decided to suspend all campaign activities. The Netherlands is set to hold parliamentary elections on October 29th, and Wilderss far-right Freedom Party is currently leading in opinion polls. According to multiple European media reports, the terrorist organization also orchestrated the recent attack on Belgian Prime Minister Thomas de Weve. The Belgian government has arrested two suspects in connection with the case.On October 12, according to the Russian Satellite News Agency, the Afghan Ministry of Defense issued a statement saying that in response to repeated Pakistani airspace incursions and airstrikes, Afghanistan had carried out retaliatory operations against Pakistani security forces along the border. The statement said, "The operation successfully concluded at midnight." The report also warned that "if Pakistan violates Afghan airspace again, the Afghan armed forces will resolutely retaliate to defend the border." Reports indicate that Afghanistan began striking Pakistan on the evening of October 11 in response to attacks in Kabul and Paktika Province in the early morning hours of the 10th. According to Afghanistans Dawn News Network, the conflict between Afghanistan and Pakistan has resulted in the deaths of 12 Pakistani soldiers. Reuters also reported that Pakistani security officials alleged that the Afghan side launched unprovoked attacks, with the two sides exchanging fire at more than six locations along the border.On October 12th, local time, senior Hamas official Osama Hamdan announced that 48 Israeli detainees in the Gaza Strip would begin to be released on the morning of the 13th. According to the first phase of the Gaza ceasefire agreement, within 72 hours of the Israeli withdrawal, Hamas must release all Israeli detainees in the Gaza Strip and return the remains of those who died. Israel will also release approximately 1,900 Palestinian detainees. Hamas had previously stated that it might be difficult to recover the remains of some of the detainees within the 72-hour deadline, a fact Israel is aware of. It is understood that 20 Israeli detainees remain alive in Gaza, while another 28 have died.On October 11th, Canadian Imperial Bank of Commerce Capital Markets analyst Anita Soni predicted in her latest forecast that gold prices will rise to $4,500 per ounce in 2026 and 2027, before falling back to $4,250 in 2028 and $4,000 in 2029. The analyst stated that she still expects gold to face a positive macroeconomic environment. Uncertainty regarding tariffs will persist, and the negative impact of tariffs implemented to date and those expected to be implemented on consumer purchasing power has yet to fully manifest in the US economy. Meanwhile, the Federal Reserve succumbed to Trumps calls for rate cuts earlier than Soni had anticipated. Soni believes that while the rise in gold prices earlier this year was related to rate cuts, the recent parabolic surge stems from concerns about long-term inflation and wealth preservation, as the Feds monetary policy has not specifically focused on long-term inflation.Ukrainian President Zelensky: Thank you for the United States willingness to provide support and discussed strengthening air defense capabilities.

Cryptoverse: Electric ether leaps on verge of Merge

Jimmy Khan

Aug 16, 2022 14:40

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The "Merge" is very probable to occur in September after years of delays, with the blockchain's underlying encryption undergoing a major change to a system where the production of new ether tokens becomes far less energy-intensive.


The ethereum ecosystem is experiencing exciting times, according to Omar Syed, co-founder of the smart contract platform Shardeum. Although I anticipate some controversy around the Merge, I don't anticipate any technical difficulties.


According to investors, ether is outperforming big brother bitcoin.


Even though it's far off its November 2021 record of $4,868.79, Ether has witnessed increases for six straight weeks, taking it up from a 1-1/2-year low of $880 in mid-June to values around $2,000 at this point.


Comparatively speaking, Bitcoin has been insignificant, rising 37% from its June low to $24,116.


Ether is eroding giant bitcoin's market share: according to CoinMarketCap, it now represents almost a fifth, or 19.7%, of the overall cryptocurrency market value of $1.14 trillion, up from less than 14.9% two months ago. The percentage of bitcoin has decreased during the same time period, from 44.9% to 40.2%.


According to Alex Miller, CEO of Hiro, which develops developer tools to create apps for bitcoin, "Crypto is still extremely closely tied, and I believe when the Merge successfully completes it might push up the price of bitcoin as well."


If Ethereum's developers are successful, as is widely anticipated, it might revolutionize the blockchain by making it easier to use and more affordable to mine for fintech and other cryptocurrency businesses.


Of course, there are many uncertainties surrounding the illusive shift, which has been postponed multiple times. Most recently, engineers abandoned plans to activate the switch in June, which alarmed investors who started to worry that it would never happen.


The Merge is also risky, and should it fail, the fate of the about 122 million ether in circulation, valued at nearly $232 billion, might be at jeopardy.


According to Miller of Hiro, if the update fails, it would "reset the whole crypto industry back five or ten years."

Intricate bomb

The proof-of-work (PoW) technique of verifying blocks is presently used by the Ethereum blockchain. Miners employ enormous amounts of power to swiftly solve challenging computational challenges in order to earn freshly generated currency.


A proof-of-stake (PoS) system, which only needs miners to "stake" their currencies to confirm transactions and produce new blocks, has been tested by Ethereum on a separate chain. It guarantees a 99.99% decrease in the energy used by the blockchain and primes it for quicker transactions.


The impending merging of the two networks hasn't gone down well with everyone, especially ether miners whose pricey mining equipment will become outdated and useless for mining bitcoin.


Mining ether has historically been more lucrative than mining bitcoin. According to Arcane Research, ethereum miners earned $18 billion in 2021 compared to bitcoin miners' $17 billion.


Some miners have made the decision to switch to mining the tokens ethereum classic or ravencoin, which are currently the best alternative.


The possibility that some individuals would continue to operate the PoW chain after the merging in order to compete with the upgraded blockchain is raised by the announcement by at least one miner that they want to resist and continue mining Ethereum.


That choice, however, has drawbacks.


The "difficulty bomb" that Ethereum's developers have created would dramatically raise mining difficulty, discouraging the PoW parallel chain after the Merge.


The chance of a greater acceptance of the parallel PoW chain is further decreased since the two biggest stablecoins, Tether and USDC, have backed the Merge.

Bubble futures

According to Alex Thorn, head of firmwide research at Galaxy Digital, "the chances of Ethereum experiencing a long-lasting chain split after the Merge remain remote."


However, positioning in the futures market suggests that at least some investors are planning for a hard fork or a rival PoW chain.


According to Matthew Sigel, head of digital assets research at investment firm VanEck, ether futures were also trading at a premium of $1,905 on the CME platform, "indicating predictions about a proof of work fork."


He said, "But that disparity is not so great as to suggest there is tremendous froth.