XECTA (OP)
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Activity: 12
Merit: 0
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November 12, 2017, 01:26:07 PM |
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"BITCOIN CASH IS BITCOIN NOW."
Issued by Li Ang, head of China-based bitcoin mining outfit Canoe Pool, the proclamation may not be distinguishable from typical cryptocurrency banter. However, the difference this time around is the context.
No idle statement, Ang's comment comes amid what can only be characterized as one of the biggest migrations of capital yet seen in the nascent asset class. Billions are on the move in the crypto markets, and it's plainly observable where the funds are headed.
After hitting a record high above $800 on Friday, the price of bitcoin cash, the alternative cryptocurrency forked from the bitcoin blockchain in August, has doubled within 24 hours, hitting a high of $1,856 according to figures from data firm CoinMarketCap. At that price, bitcoin cash is now valued at more than $30 billion, passing ethereum for second-place standing in the market.
The move follows the sudden decision this week by a group of businesses and mining pools to suspend an effort to change the rules of the bitcoin software. Called Segwit2x, or simply '2x' by some, the effort would have increased bitcoin's block size – one way by which its transaction capacity can be measured.
But while bitcoin's developers and technologists lauded the move, miners and entrepreneurs lamented what they described to CoinDesk as a decision that would inspire others to migrate to blockchains more accommodating to their ideas and ideals. And if it was unclear at the time which alternatives would benefit, bitcoin cash is already proving the primary beneficiary.
Early and active in migrating support appears to be bitcoin's miners.
According to data from Fork.lol, at roughly 4:30 UTC on Sunday the total amount of mining power backing the bitcoin cash blockchain surpassed that of the bitcoin blockchain.
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AGD
Legendary
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Activity: 2069
Merit: 1164
Keeper of the Private Key
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November 12, 2017, 01:41:43 PM |
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No. It's not. It's Bitcoin Cash.
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Denker
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Activity: 1442
Merit: 1014
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November 12, 2017, 01:45:01 PM |
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OP please put this in the news section next time.
And link the source!
You could have at least mentioned that this is a article from coindesk!
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leps
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November 12, 2017, 01:46:12 PM
Last edit: November 12, 2017, 02:13:40 PM by leps |
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Bitcoin Cash is going back to the $500 level because this was nothing but a pump and dump. Of course Bitcoin Cash is an awesome coin to make money because the guys behind it have a lot of money to pump it so you guys just have to be smart and ride these pumps on Bitcoin Cash. Wait for the bottom and buy it again for the next pump.
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rainbow169
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November 12, 2017, 01:53:32 PM |
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Let's see what will happen in 7 hours time when BCH adjusts its difficulty and BTC become 2x more profitable to mine, will the miners follow the money and will the price follow hash power? The BCH dump will probably happen before that.
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coinycoiny
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Activity: 273
Merit: 18
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November 12, 2017, 02:03:04 PM |
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I don't understand why people are so negative about BTH.
Everyone got the same amount when it split.
Transactions are quicker and cheaper.
What's the fuss. I think the only people moaning are the ones that sold up and now regret it.
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Youngsta
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Activity: 98
Merit: 10
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November 12, 2017, 02:08:07 PM |
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BITCOIN CASH is bitcoin trash
Totally organic growth. Not coincidence at all this happens during the weekend.
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1NV3ST0NM3
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November 12, 2017, 02:11:04 PM |
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Its too early to say this. Yes BCH has some tremendous platform improvements and its value has gained some momentum after the cancellation of fork but we have most of the core miners still attached to bitcoin can't say that bch will become the new bitcoin anytime soon.
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alan2here
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November 12, 2017, 02:13:25 PM |
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It is still too early to say this but 70% of experts predict that BCH may be the second BTC in the future and many new features will be well developed. If this happens then we will have a look better on the BCH in the future
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howtobuy
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Activity: 107
Merit: 100
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November 12, 2017, 02:15:46 PM |
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Bitcoin Cash has several advantages, however, its still a spin-off. So I think BTC will keep the first position.
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NeonXL
Full Member
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Activity: 322
Merit: 103
OPEN GAMING PLATFORM
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November 12, 2017, 02:18:52 PM |
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BITCOIN CASH is bitcoin trash
Totally organic growth. Not coincidence at all this happens during the weekend.
It`s just pump |
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coinycoiny
Member
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Activity: 273
Merit: 18
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November 12, 2017, 02:19:10 PM |
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Bitcoin Cash has several advantages, however, its still a spin-off. So I think BTC will keep the first position.
But so was etheruim and look what happened there. It seems to be going that way and it works better than btc so why not? |
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gentlemand
Legendary
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Activity: 2590
Merit: 3013
Welt Am Draht
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November 12, 2017, 02:21:20 PM |
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I don't understand why people are so negative about BTH.
Everyone got the same amount when it split.
Transactions are quicker and cheaper.
What's the fuss. I think the only people moaning are the ones that sold up and now regret it.
Everyone who joined after August 1st, which is probably now hundreds of thousands of people, will have their money erased. If you don't think that's a problem, both for them and the perception of Bitcoin and all crypto, then it's time for you to go into the wilderness and find your spirit animal before it's too late. |
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seekoin
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November 12, 2017, 02:22:13 PM |
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LOL, let's compare BTC and BCH infrastructure, eco-system and history :
How many merchands are using BCH ?
How year old is BCH ?
How many ICO are lauched using BCH ?
How many Exchanger are handling BCH ?
How many BCH wallets ?
How many BCH websites ?
How many BCH apps ?
Just cool down, cowboy: your time may come but not today !
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frankbitcoin
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November 12, 2017, 02:23:31 PM |
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I don't understand why people are so negative about BTH.
Everyone got the same amount when it split.
Transactions are quicker and cheaper.
What's the fuss. I think the only people moaning are the ones that sold up and now regret it.
Everyone who joined after August 1st, which is probably now hundreds of thousands of people, will have their money erased. If you don't think that's a problem, both for them and the perception of Bitcoin and all crypto, then it's time for you to go into the wilderness and find your spirit animal before it's too late. what do you mean? please explain. |
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bitcoincollector03
Member
Offline
Activity: 98
Merit: 10
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November 12, 2017, 02:23:38 PM |
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"BITCOIN CASH IS BITCOIN NOW."
Issued by Li Ang, head of China-based bitcoin mining outfit Canoe Pool, the proclamation may not be distinguishable from typical cryptocurrency banter. However, the difference this time around is the context.
No idle statement, Ang's comment comes amid what can only be characterized as one of the biggest migrations of capital yet seen in the nascent asset class. Billions are on the move in the crypto markets, and it's plainly observable where the funds are headed.
After hitting a record high above $800 on Friday, the price of bitcoin cash, the alternative cryptocurrency forked from the bitcoin blockchain in August, has doubled within 24 hours, hitting a high of $1,856 according to figures from data firm CoinMarketCap. At that price, bitcoin cash is now valued at more than $30 billion, passing ethereum for second-place standing in the market.
The move follows the sudden decision this week by a group of businesses and mining pools to suspend an effort to change the rules of the bitcoin software. Called Segwit2x, or simply '2x' by some, the effort would have increased bitcoin's block size – one way by which its transaction capacity can be measured.
But while bitcoin's developers and technologists lauded the move, miners and entrepreneurs lamented what they described to CoinDesk as a decision that would inspire others to migrate to blockchains more accommodating to their ideas and ideals. And if it was unclear at the time which alternatives would benefit, bitcoin cash is already proving the primary beneficiary.
Early and active in migrating support appears to be bitcoin's miners.
According to data from Fork.lol, at roughly 4:30 UTC on Sunday the total amount of mining power backing the bitcoin cash blockchain surpassed that of the bitcoin blockchain.
Where did you get this golden shit? we need to be alert, coz it might be true as btc unconfirmed transaction is keep on growing! |
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gentlemand
Legendary
Offline
Activity: 2590
Merit: 3013
Welt Am Draht
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November 12, 2017, 02:26:55 PM |
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what do you mean? please explain.
You had to own Bitcoin on August 1st and have control over the private keys, or be with a service that credited you, to get Bitcoin Cash. Bitcoin Cash fans seem to think no one loses if Bitcoin Cash destroys Bitcoin because everyone has equal amounts of BCH and BTC. This seems to give them the moral justification to go forward in setting everything on fire. Anyone who came along after August 1st has no free BCH and more than likely won't understand why their Bitcoin is dwindling to nothing. Reflect on what they themselves will feel and how the media and the rest of the world is going to regard how that looks from the outside. |
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evoqon
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Activity: 27
Merit: 0
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November 12, 2017, 02:29:35 PM |
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I think the main reason why Li Ang said that because he mined Bitcoin Cash instead of Bitcoin...
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seekoin
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November 12, 2017, 02:30:11 PM |
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Where did you get this golden shit? we need to be alert, coz it might be true as btc unconfirmed transaction is keep on growing!
In less that 5 hours, the BCH difficulty will increase to 400%. Let's see what miners are going to do  |
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worldofcoins
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November 12, 2017, 02:32:04 PM |
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Where did you get this golden shit? we need to be alert, coz it might be true as btc unconfirmed transaction is keep on growing!
In less that 5 hours, the BCH difficulty will increase to 400%. Let's see what miners are going to do In the end its all about the money but bitcoin is holding its resistance standing strong against the miners and there goons of greed. someone needs to pump btc up now so they can lose out and they would had made nothing from it |
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