*By Carlo Versano*
There's a civil war underway in cryptocurrency ー and it's shaking investor confidence in the very foundation of the blockchain.
Bitcoin, down 25 percent in a week and over 75 percent since its highs of a year ago, is suffering at least in part from the latest "hard fork" split of the two versions of Bitcoin Cash (BCH) into ABC and SV ー which themselves are just second-rate copies of the original Bitcoin currency, according to Merlin Rothfeld, a crypto investor and strategist with the Online Trading Academy.
Rothfeld predicted the volatility in Bitcoin will be a good thing in the long term, as it "shakes out" the vulnerabilities in the relationship between crypto and blockchain.
All of the things that have consistently appealed to Bitcoin investors ー the decentralization, transparency, chain of record ー are still intact, Rothfeld said. "That's very appealing to have this kind of autonomy."
Some investors worry that miners are mining "empty blocks" that would modify, and thus interfere with, the older version of the blockchain of a specific currency ー and that shakes the confidence of the entire market that relies on "proof of work" algorithms to record transactions, according to Rothfeld.
Once investors better understand how those vulnerabilities are being exploited, they can be patched, Rothfeld said. But until then, we should expect the volatility to continue and Bitcoin demand to wane. "I don't see it stopping anytime soon," he said.
For full interview [click here](https://cheddar.com/videos/whats-next-for-the-bitcoin-slump).
Connected cars software development platform Smartcar announced this week it has raised $24 million in a Series B round led by Energize Ventures. Smartcar's software can be integrated into mobile and web apps from mobility businesses. It allows users to do things like locate and unlock a vehicle, as well as check its mileage, fuel level, and battery if the vehicle is electric. Smartcar's technology is compatible with 22 different vehicle brands in 31 different countries. Smartcar co-founder and CEO Sahas Katta joined Cheddar News' Closing Bell to discuss.
If some members of Congress have their way, there might finally be a 'TLDR' on sites' terms of service, introduced by the terms-of-service labeling, design, and readability act – or TLDR for short. With this act, users will actually understand what they're agreeing to or the many ways in which their data is being used before pressing 'accept.' J.D. sat down with co-sponsor of the bill and Senator Bill Cassidy, to discuss.
On this episode of Cheddar Innovates: Vrai CEO discusses the process of creating lab grown diamonds, Entrupy CEO breaks down how the app uses artificial intelligence to analyze authenticity for luxury goods and sneakers; A look at Curiosity Stream's 'Red Elvis.'
Vidyuth Srinivasan, CEO and Co-Founder of Entrupy, joins Cheddar Innovates to discuss how this app uses artificial intelligence to analyze authenticity for luxury goods and sneakers, and why this is so critical as the secondary and resale retail markets are on the rise.
Mona Akhavi, CEO of Vrai, joins Cheddar Innovates to discuss the process of creating lab grown diamonds, why this industry is growing, and the latest trends in the jewelry and engagement ring space.
