The Bitcoin blockchain debate and blockchain news generally dominated the headlines again this week. The media’s bias towards blockchain technology generally, over Bitcoin specifically, is becoming well established. This is leading to some interesting debates on social media.

The Bitcoin Blockchain Debate & News Round up Week 22

Bitcoin luminary Andreas Antonopoulos is an ever vocal proponent of Bitcoin technology specifically. In a recent talk he voiced his concerns over the industry trend toward private blockchains and consensus algorithms that do not involve proof-of-work mining.

The twitter-sphere was aflutter, as other industry exports weighed in.

.@VitalikButerin doesn’t quite agree with @aantonop

— U-Zyn (@uzyn) 2 June 2016

The Bitcoin Blockchain Debate & News Round up Week 22 – What is a bitcoin anyway?

Bitcoins themselves, as the native, scarce token of the bitcoin network, are difficult to classify. Sure, they have value. But what are they exactly?

Are they a commodity, a currency, a stock in the underlying technology? Perhaps they are a share of the Decentralised Autonomous Organisation that the Bitcoin eco-system has become? Maybe they are all of those things at once?

A report published by Coinbase and ARK Investment this week would indicate that, in fact, Bitcoin is an exciting new asset class all on its. We at iceCUBED tend to agree. The report makes for interesting reading. It notes some fascinating comparisons and contrasts between other asset types and classes and bitcoins.

Everyone wants a Blockchain

Blockchain is so hot right now. Well it has been for all of 2016. Everyone is getting in on the act, at a corporate and national level.

Japan’s Ministry of Trade released the results of its Blockchain technology survey. Meanwhile technology giant Intel opened its financial technology development lab in Israel. The lab will focus on Blockhain tech., amongst other cutting edge technology. Also, a new proposal from the Government authorities in Abu Dhabi indicated a desire to promote Blockchain based financial technology startups at its new free trade zone.

Bitcoin price is cooking again

Of course, as far as the mainstream news was concerned, this was of secondary concern. The Bitcoin price surge lead headlines, on the back of huge volume buying out of China. As we reported this week, the bull is back in charge. Expect a lot of volatility. Of course, if you’re a trader at ICE3X, that means a lot of profit opportunities.