Bitcoin Price Could Hit $15,000 This Year

Christopher Matta, Goldman Sachs

According to my estimates, the recent tx spam on the ETH network cost up to ~$15m USD

Vitalik Buterin

Tehran Circumvents US Sanctions Using Cryptocurrency

Experts of the Financial Crimes Enforcement Network identified global threats to the payment system. One of the risk factors they consider “malicious” actions of Iran residents.
the Financial Crimes Enforcement Network (FinCEN) presented new recommendations. Among other things, the document says that the Iranian government endangers the global financial system using virtual money. According to researchers, every year residents of Iran make transactions for “malicious purposes” using bitcoin for a total of 3.8 million dollars. In addition, virtual means of payment help Tehran to bypass economic restrictions.
The regulator recommends that American business companies, including crypto-currency platforms, analyze the registers of blockchains to find the activity coming from Iran. FinCEN emphasizes that despite the attempts of the Iranian Central Bank to protect local financial institutions from trading cryptocurrencies, companies and legal entities of the country have unhindered access to American trading platforms and p2p-exchangers. With this in mind, the regulator recalls the importance of using enhanced measures to comply with sanctions requirements.
In July, it was reported that the department of science and technology under the Iranian government plans to begin the development of the national cryptocurrency. According to Tehran’s plans, the country will be able to bypass American sanctions with the help of digital coins. On the other hand, the Chinese government may put an end to Tehran’s plans. According to analysts, the Chinese government has enough tools and resources to significantly change or even destroy bitcoin.
As long as the threat from the Chinese leadership remains potential, miners continue to make money. In the first six months of this year, the income of bitcoin miners reached a record high of 4.7 billion dollars. Over time, the ever-growing competition and complexity of computing make the “production” of the most popular cryptocurrency less profitable. Small players often lose.