Where your hard-earned money comes to die. Home.
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As of 12:45 EST: Update on Bitcoin Cash:
| medicated volcanic crater | 11/12/17 |
| medicated volcanic crater | 11/12/17 |
| medicated volcanic crater | 11/12/17 |
| coiffed step-uncle's house pistol | 11/12/17 |
Poast new message in this thread
Date: November 12th, 2017 2:44 AM Author: medicated volcanic crater https://www.coindesk.com/confusion-euphoria-bitcoin-cash-30-billion-2000/
"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.
With the move, bitcoin cash is now valued at more than $30 billion, passing ethereum to move into 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 unit 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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Bitcoin is dead. Long live bitcoin cash! |
Date: November 12th, 2017 2:46 AM Author: medicated volcanic crater "BTC is going to die," Zhuoer said. (http://www.autoadmit.com/thread.php?thread_id=3794285&forum_id=7#34666486) |
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Date: November 12th, 2017 2:49 AM Author: medicated volcanic crater The real damning shit is in the comments:
-In january coinbase is releasing all of the BCC to user accounts -Huge backlog of BTC transactions (i.e. run on the bank)
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Date: November 12th, 2017 3:00 AM Author: coiffed step-uncle's house pistol Just need Bithumb to come back up to continue the run. Korea not looking like a first world country right now. (http://www.autoadmit.com/thread.php?thread_id=3794285&forum_id=7#34666511) |