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Kraken Expands its Margin Trading to Include XRP and Bitcoin Cash (BCH)

As 2018 comes to an end, the crypto exchange of Kraken has launched margin trading for Bitcoin Cash (BCH) and XRP on its platform. This expansion brings the total of digital assets with margin trading to eight. The other six digital assets include Bitcoin (XBT), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR) and Tether (USDT).

XRP and BCH Leverages

The team at Kraken went on to specify the following leverage amounts for each new trading pairs.

Bitcoin Cash
BCH/XBT – 2x
BCH/USD – 2x, 3x
BCH/EUR – 2x, 3x

XRP
XRP/XBT – 2x, 3x
XRP/USD – 2x, 3x, 4x, 5x
XRP/EUR – 2x, 3x, 4x, 5x

Borrow Limits

With respect to borrow limits, Kraken provided the following tiers depending on the verification level of the user account.

Bitcoin Cash
Tier 1: 1 BCH
Tier 2: 5 BCH
Tier 3: 50 BCH
Tier 4: 500 BCH

XRP
Tier 1: 5,000 XRP
Tier 2: 25,000 XRP
Tier 3: 250,000 XRP
Tier 4: 2,500,000 XRP

Margin Fees

The exchange will charge 0.02% as opening fee for margin trading and a similar percentage as rollover fee per 4 hours.

What Exactly is Margin Trading and Leverage? 

Margin trading is the practice of using borrowed funds from an exchange or broker to trade a preferred asset in the markets which forms the collateral for the loan from the broker. Margin refers to the amount of funds the trader must put up from his or her own resources. Leverage is the ability to use the margin amount to control a bigger trade. The amount of leverage (as seen above) is determined by the tier level of account verification.

In the case of Kraken, the collateral held or margin currency, does not have to match the margin pair the trader plans to trade since the leverage is placed on the value of the entire trade. Traders can hold the following as collateral currencies on Kraken.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • EURO
  • US Dollar (USD)
  • Canadian Dollar (CAD)
  • Japanese Yen (JPY)

Risks of Margin Trading

As much as there is potential to make massive profits, margin trading can also lead to greater losses. Also, if the losses are large enough, the trader’s margin positions can be forcibly closed (liquidated) by the exchange to protect the funds borrowed to open the trading position.

What are your thoughts on Kraken expanding its margin trading to include XRP and Bitcoin Cash (BCH)? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Kraken Expands its Margin Trading to Include XRP and Bitcoin Cash (BCH) appeared first on Ethereum World News.

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Rumor: Jihan Wu and the Jenke Group to Retire as CEOs of Bitmain

With the New Year only hours away, news reaching Ethereum World News indicate that the giant Bitcoin mining and ASIC manufacturing company of Bitmain might be undergoing some radical top management changes. According to reports by both Cointelegraph and Odaily, Jihan Wu and the Jenke Group will soon be retiring as CEOs of the company.

Odaily went to name a single successor with a surname of Wang. The report went on to state that Bitmain is in a transitory period as the changes are implemented.

Earlier Reports of Jihan Wu Losing Executive Power at Bitmain

The unconfirmed reports of major changes at the top leadership at Bitmain come a month after similar rumors surfaced that Bitmain had undergone a massive board reshuffle. In the restructuring, Jihan Wu had lost his seat as the board’s executive director and was now serving as a supervisor. His position at Bitmain had been replaced by Zhan Ketuan.

Possible Shut Down of Mining Operations at the Mining Giant

Odaily went on to add that the firm could also wind down all mining operations carried out by Bitmain. In addition, the firm will sell all its currently operational Antminer S9s. Once again, we would like to remind our readers that this are unconfirmed reports.

Layoffs Already Underway

Only one week ago, Ethereum World News had indicated that Bitmain was laying off up to 50% of its staff as part of streamlining operations due to the cryptocurrency bear market. With a staff count of over 2,000, the Bitmain layoffs might shake the crypto-verse further if they are accompanied by the aforementioned ceasing of mining activities. Such an event would shift the balance of mining operations and open the doors for a reentry of small scale miners into the BTC network.

A Continual Domino Effect

Earlier on in the month, we had analyzed why the Bitmain IPO would probably not be approved by the Hong Kong Stock Exchange (HKEX). A summary as to why the HKEX would be reluctant to list Bitmain is as follows.

  • $740 Million in Q3 losses excluding cost of financing Hash Wars
  • $10 Million in combined costs from both BCH camps for financing the hash wars
  • Bitmain allegedly liquidating its stash of BCH to pay off supplier debts
  • Lawsuit against Bitmain and BCHABC supporters for allegedly hijacking the BCH blockchain
  • Earlier rumors of Jihan Wu losing Executive powers at Bitmain

Conclusion

Summing it up, the rumors indicating that Bitmain might be in financial trouble have continued to pile up from around the third quarter of 2018. What remains, is official confirmation from Bitmain that all is not well at the ASIC (Application Specific Integrated Circuit) chip manufacturer and crypto mining company.

What are your thoughts on the unconfirmed reports that Jihan Wu and the Jenke Group will be resigning as Bitmain’s COEs? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Rumor: Jihan Wu and the Jenke Group to Retire as CEOs of Bitmain appeared first on Ethereum World News.

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Is Bitcoin Cash (BCH) Losing Value Due to Bitmain’s Alleged Financial Woes?

The crypto community breathed a sigh of relief after the Bitcoin Cash (BCH) hash wars reportedly ended on the 23rd of November. The Hash Wars that had officially started on the 14th of the same month, were due to two factions of the BCH community not agreeing on which upgrade to implement. This then led to a bitter battle between one camp led by Craig Wright (Bitcoin SV) and another by Roger Ver and Jihan Wu. The two camps eventually settled to fork the BCH blockchain.

Mr. Wu is the current CEO of Bitmain which is a company that specializes in designing ASIC chips for Bitcoin mining. The company also operates two of the largest Bitcoin mining pools: BTC.com and Antpool.

Signs of Trouble at Bitmain

The initial signs of trouble at Bitmain started right before the Hash Wars when it was reported that Jihan Wu had lost his seat as the company’s board executive director after a board reshuffle. Jihun was reportedly replaced by Zhan Ketuan. The reason for the reshuffle was not explained but on the same day, 90,000 miners were hurriedly deployed in China’s far-western region of Xinjiang to mine Bitcoin Cash ABC – the current BCH.

After the Hash Wars were over, it was rumored that the Q3 financials of Bitmain indicated that the company had made losses amounting to $740 Million. This amount excluded the cost of financing the hash wars. The unconfirmed losses by the company has led many to speculate that the pending IPO is an exit strategy by execs at Bitmain.

According to research by a team at Bitmex, the joint loss by both camps due to the BCH hash wars could well have exceeded $10 Million. Bitmain has also closed down its Israeli Blockchain development center, citing crypto market conditions.

Pending Law Suit Against Bitmain

Soon after the hash wars, UnitedCorp launched a suit against Bitmain, Bitcoin.com, Roger Ver, Kraken Bitcoin Exchange and others, claiming they had hijacked the Bitcoin Cash Network after the November 15th hard-fork.

Rumors that Bitmain is Liquidating its BCH

Additional rumors circulating on Crypto Twitter indicate that Bitmain might be liquidating its BCH stash to pay off supplier debts totaling $600 Million. One such tweet can be found below.

The same twitter user was the one who informed the crypto community about the potential $740 Million in Q3 losses made by Bitmain. The user also had this to say in a recent tweet.

PREDICTION: Bitmain will finish the year with NEGATIVE $1,2-$1,5 BLN NET INCOME and cement its place as most money losing company in the industry #BitmainIPO @HKEXGroup

If the reports of Bitmain’s financial woes turn out to be true, it explains why Bitcoin Cash has continually fallen from the number 4 spot on coinmarketcap.com, to its current number 7 ranking. Before the hash wars, BCH was trading at around $500. The digital asset is now valued at $86 indicating a 83% drop in value in a period of one month. 

What are your thoughts on the drop in value of BCH? Could it be linked to the ‘troubles’ Bitmain is facing? Please let us know in the comment section below. 

[Image courtesy of stuff.co.nz]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Is Bitcoin Cash (BCH) Losing Value Due to Bitmain’s Alleged Financial Woes? appeared first on Ethereum World News.

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Bitcoin SV Flips Bitcoin Cash (BCH) Amidst Market Rout

Bitcoin Cash (BCH), Bitcoin SV (BSV), Cryptocurrency–In a turn of events that could have ramifications for the broader market, Bitcoin SV, the fork of Bitcoin Cash that ultimately conceded the name to split currency Bitcoin ABC, has overtaken its rival to claim the fifth largest spot by capitalization.

While every crypto in the top 20, including the number one currency Bitcoin is experiencing double digit losses on the day, Bitcoin SV has managed to climb over 28 percent. The most recent price movement for the coin has led to a “flippening” in investor expectations and market valuation, with SV leaping ahead of its competitor in what has been a contentious split. As previously reported by EWN, the Bitcoin Cash hard fork, which resulted in rival currencies Bitcoin ABC and SV, instigated a “hash war” that nearly destroyed the entire the industry in the fallout.

The two competing forks, led by their respective mining pools and representatives, waged a hash rate war to decide which currency would be most deserving of receiving the original mantle of Bitcoin Cash and carrying on the coin’s branding. On Nov. 23, after two weeks of back and forth banter and plummeting crypto prices, the team behind SV capitulated to their competing rival, and conceded the title of Bitcoin Cash. Speaking at the time, billionaire SV representative Calvin Ayre claimed that his community was prepared to move forward from the conflict created with Bitcoin ABC, and that the mining group and investors “no longer [wanted] the name Bitcoin Cash”–a move that is being proven prescient with the precipitous drop in BCH value as SV continues to climb.

Ayre continued in an interview with Coingeek,

“We have a clearly defined path and this is now ready for implementation. Our definition of winning is SV existing, which was not what ABC wanted, and we are already moving on to grow the ecosystem.”

At the time it seemed like the move meant Bitcoin SV was destined to join the likes of other high profile coins relegated to obscurity (with BCH being a rare exception as a fork of the original Bitcoin), such as Bitcoin Gold, Bitcoin Diamond and Litecoin Cash. Indeed, the price of Bitcoin SV followed suite initially, with the value of the coin slipping relative to the market. But this week SV made a significant turn, and on Dec. 6 was the only coin to post green in a sea of deepening red.

While it’s unlikely that SV will challenge the market capitalization of Bitcoin (BTC) anytime soon, with the original cryptocurrency commanding $58 billion to SV’s $1.9 billion, BSV does a realistic chance of flipping Stellar in the next 24 hours if the trend continues. Following a brief reprieve of falling prices, as Bitcoin climbed above $4000 to reach a relative high in the $4300 range, the last two days have renewed the bearish trend, with prices now hitting their lowest point of the year.

For BSV investors and those savvy enough to purchase Bitcoin Cash ahead of the fork, the recent price movement is a welcome sight as cryptocurrency continues to plummet. However, the coin was not without its controversies leading to this point, including a number of members within cryptocurrency pointing the finger at the vitriol surrounding the BCH fork which kicked off November’s severe decrease in market valuation.

The post Bitcoin SV Flips Bitcoin Cash (BCH) Amidst Market Rout appeared first on Ethereum World News.

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Bitcoin SV Flips Bitcoin Cash (BCH) Amidst Market Rout

Bitcoin Cash (BCH), Bitcoin SV (BSV), Cryptocurrency–In a turn of events that could have ramifications for the broader market, Bitcoin SV, the fork of Bitcoin Cash that ultimately conceded the name to split currency Bitcoin ABC, has overtaken its rival to claim the fifth largest spot by capitalization.

While every crypto in the top 20, including the number one currency Bitcoin is experiencing double digit losses on the day, Bitcoin SV has managed to climb over 28 percent. The most recent price movement for the coin has led to a “flippening” in investor expectations and market valuation, with SV leaping ahead of its competitor in what has been a contentious split. As previously reported by EWN, the Bitcoin Cash hard fork, which resulted in rival currencies Bitcoin ABC and SV, instigated a “hash war” that nearly destroyed the entire the industry in the fallout.

The two competing forks, led by their respective mining pools and representatives, waged a hash rate war to decide which currency would be most deserving of receiving the original mantle of Bitcoin Cash and carrying on the coin’s branding. On Nov. 23, after two weeks of back and forth banter and plummeting crypto prices, the team behind SV capitulated to their competing rival, and conceded the title of Bitcoin Cash. Speaking at the time, billionaire SV representative Calvin Ayre claimed that his community was prepared to move forward from the conflict created with Bitcoin ABC, and that the mining group and investors “no longer [wanted] the name Bitcoin Cash”–a move that is being proven prescient with the precipitous drop in BCH value as SV continues to climb.

Ayre continued in an interview with Coingeek,

“We have a clearly defined path and this is now ready for implementation. Our definition of winning is SV existing, which was not what ABC wanted, and we are already moving on to grow the ecosystem.”

At the time it seemed like the move meant Bitcoin SV was destined to join the likes of other high profile coins relegated to obscurity (with BCH being a rare exception as a fork of the original Bitcoin), such as Bitcoin Gold, Bitcoin Diamond and Litecoin Cash. Indeed, the price of Bitcoin SV followed suite initially, with the value of the coin slipping relative to the market. But this week SV made a significant turn, and on Dec. 6 was the only coin to post green in a sea of deepening red.

While it’s unlikely that SV will challenge the market capitalization of Bitcoin (BTC) anytime soon, with the original cryptocurrency commanding $58 billion to SV’s $1.9 billion, BSV does a realistic chance of flipping Stellar in the next 24 hours if the trend continues. Following a brief reprieve of falling prices, as Bitcoin climbed above $4000 to reach a relative high in the $4300 range, the last two days have renewed the bearish trend, with prices now hitting their lowest point of the year.

For BSV investors and those savvy enough to purchase Bitcoin Cash ahead of the fork, the recent price movement is a welcome sight as cryptocurrency continues to plummet. However, the coin was not without its controversies leading to this point, including a number of members within cryptocurrency pointing the finger at the vitriol surrounding the BCH fork which kicked off November’s severe decrease in market valuation.

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Rumor: Bitmain Financials Indicate $740 Million In Q3 Losses Excluding Cost of Bitcoin Cash (BCH) Hash War

Since the hard fork of Bitcoin Cash that resulted in the ABC camp claiming the ticker for BCH, the value of the digital asset has dropped from around $500 on the day before the event (November 14th) to current levels of $115. This is a drop in value of 77% in a period of less than a month. Some crypto enthusiasts and analysts have concluded that BCH has entered what is known as a Downward Spiral. This has been explained as the situation where it might not be profitable to mine the digital asset.

Recap of Hash Wars

The Bitcoin Cash hash wars involved two camps. There was Craig Wright who supported the Satoshi Vision upgrade of BCH or simply BSV. Then there was Roger Ver and Jihan Wu (CEO of Bitmain) who were for the ABC version of the coin’s upgrade.

Bitmain Rumored to Have Made $740 Million In Loses in Q3, 2018

According to the Bitcoinist, unconfirmed leaked information indicate that Bitmain has lost $740 Million in Q3 of 2018 excluding the costs to financing the Hash Wars. The Bitcoinist cites a twitter account with the username of @BTCKING555 who revealed the information as follows.

We got leak of Bitmain Q3 numbers! COMPLETE DISASTER. The company lost $740 Million including losses on inventory and bitcoin cash! And this is not accounting for hash war costs! #bitmainipo @HKEXGroup

The full tweet can be found below.

Concerns that the Anticipated Bitmain IPO Might Not Be As It Seems

If the reported losses of $740 Million turn out to be true, and without factoring in the costs of the Hash Wars, investors might begin to assume that the anticipated public offering of Bitmain worth $18 Billion might be a way of passing over ‘the bag’ of a failing venture.

It was also revealed that Bitmain decreased its holdings of Bitcoin in preference for Bitcoin Cash around March this year.

One Medium blog summarized the scenario of passing the bag through an IPO as follows:

You have a persisting bear market.

How do you realize the value of this monolith crypto business and your holdings?

You IPO and pass the bag on in one huge lumped stock offering and hope investors don’t realize all of your current assets are very, very illiquid.

UnitedCorp Files Suit Against Bitmain, Roger Ver and Others

In addition to the aforementioned concerns, UnitedCorp has launched a suit against Bitmain, Bitcoin.com, Roger Ver, Kraken Bitcoin Exchange and others. The suit claims that they hijacked the Bitcoin Cash Network after the November 15th hard-fork. UnitedCorp filed its suit in the US District Court for the Southern District of Florida.

What are your thoughts on the possible losses at the Bitmain cryptocurrency mining company? Do you think that the cost of Hash Wars could increase the rumored figure of $740 Million significantly? Please let us know in the comment section below. 

[Image courtesy of AngelBroking.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Rumor: Bitmain Financials Indicate $740 Million In Q3 Losses Excluding Cost of Bitcoin Cash (BCH) Hash War appeared first on Ethereum World News.

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Rumor: Bitmain Financials Indicate $740 Million In Q3 Losses Excluding Cost of Bitcoin Cash (BCH) Hash War

Since the hard fork of Bitcoin Cash that resulted in the ABC camp claiming the ticker for BCH, the value of the digital asset has dropped from around $500 on the day before the event (November 14th) to current levels of $115. This is a drop in value of 77% in a period of less than a month. Some crypto enthusiasts and analysts have concluded that BCH has entered what is known as a Downward Spiral. This has been explained as the situation where it might not be profitable to mine the digital asset.

Recap of Hash Wars

The Bitcoin Cash hash wars involved two camps. There was Craig Wright who supported the Satoshi Vision upgrade of BCH or simply BSV. Then there was Roger Ver and Jihan Wu (CEO of Bitmain) who were for the ABC version of the coin’s upgrade.

Bitmain Rumored to Have Made $740 Million In Loses in Q3, 2018

According to the Bitcoinist, unconfirmed leaked information indicate that Bitmain has lost $740 Million in Q3 of 2018 excluding the costs to financing the Hash Wars. The Bitcoinist cites a twitter account with the username of @BTCKING555 who revealed the information as follows.

We got leak of Bitmain Q3 numbers! COMPLETE DISASTER. The company lost $740 Million including losses on inventory and bitcoin cash! And this is not accounting for hash war costs! #bitmainipo @HKEXGroup

The full tweet can be found below.

Concerns that the Anticipated Bitmain IPO Might Not Be As It Seems

If the reported losses of $740 Million turn out to be true, and without factoring in the costs of the Hash Wars, investors might begin to assume that the anticipated public offering of Bitmain worth $18 Billion might be a way of passing over ‘the bag’ of a failing venture.

It was also revealed that Bitmain decreased its holdings of Bitcoin in preference for Bitcoin Cash around March this year.

One Medium blog summarized the scenario of passing the bag through an IPO as follows:

You have a persisting bear market.

How do you realize the value of this monolith crypto business and your holdings?

You IPO and pass the bag on in one huge lumped stock offering and hope investors don’t realize all of your current assets are very, very illiquid.

UnitedCorp Files Suit Against Bitmain, Roger Ver and Others

In addition to the aforementioned concerns, UnitedCorp has launched a suit against Bitmain, Bitcoin.com, Roger Ver, Kraken Bitcoin Exchange and others. The suit claims that they hijacked the Bitcoin Cash Network after the November 15th hard-fork. UnitedCorp filed its suit in the US District Court for the Southern District of Florida.

What are your thoughts on the possible losses at the Bitmain cryptocurrency mining company? Do you think that the cost of Hash Wars could increase the rumored figure of $740 Million significantly? Please let us know in the comment section below. 

[Image courtesy of AngelBroking.com]

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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BCH Chain Splits Almost Inminent: Craig Wright Abandons Bitcoin Cash Summit. Roger Ver Speaks Out

The Bitcoin Cash community has had a hectic week, and the gap between two large factions seems to have reached a point where the differences are irreconcilable. This seems to be the only conclusion one can draw after hearing the statements of the most important figures within the Bitcoin Cash ecosystem, especially after the Bangkok Miners Summit of 2018.

The critical event had the purpose of contrasting views on both sides and determining which changes are necessary and safe for the blockchain, as well as which changes should be avoided. Of course, both supporters of the Bitcoin ABC proposal and supporters of the Bitcoin SV proposal were invited.

However, shortly after the debate began, Craig Wright, one of the most critical Bitcoin SV advocates left the meeting, leaving many without the opportunity to argue the merits or disadvantages of Bitcoin SV.

Craig Wright Leaves the Bitcoin Cash Miners Meeting

After leaving what he called a “bullshit” meeting, Craig Wright had an interview with Hayden Otto, anchorman of YouTube’s Crypto Strategies channel, with whom he talked about several points, including various controversial aspects that have caused division within the community.

In short, some proposals for change seem to be seeking the profit and control of certain power groups. He compared Bitcoin ABC’s refusal to push a 128MB block to Bitcoin’s (BTC) “philosophy” of not increasing the blocksize and relying on layer-twoo solutions.

He sharply criticized Jihan Wu for his damaging actions and took the opportunity to promote the advantages of joining the pool he is developing for Bitcoin SV, as it prevents a chain split, has a better profit distribution, and costs are meager.

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Roger Ver Speaks Out

Roger Ver also raised his voice in this regard. He was a little disappointed by the lack of consensus and the attitude of Craig Wright, but he considers that the ability to “fork off” that a person has when they disagree with a change proposed by the majorities is precisely what gave birth to BCH.

On “Wormhole,” the initiative proposed by Bitmain, Roger Ver considers that a token burn is a good thing because it increases the ratio of demanders concerning the offer; however, he refrained from issuing more comments, claiming he did not fully understand the issue.

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So far the supporters of each proposal seem adamant about not getting a common point, even though Mr. Ver considers that there is a large area of agreement. Bitcoin Cash remains relatively stable at around $600

Bitcoin Cash Daily PriceGraph: Tradingview

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Bitcoin SV Alpha Launched Claiming to Follow the Real Satoshi’s Vision about Bitcoin

Craig Wright stays determined to pursue his view of what Bitcoin Cash should be, promoting what he believes is Satoshi Nakamoto’s true vision. The BCH client known as Bitcoin SV has generated mixed opinions, however, its development does not stop and every day seems to gain more followers.

In a dark episode for the Bitcoin Cash community and after a series of verbal an written confrontations in which even Vitalik Buterin himself issued opinions on what he considers best for the BCH community, the alternative proposed by nChain to achieve a better blockchain seemed to emerge unscathed from the bad propaganda.

In an announcement made by Mr. Wright, the first pool with the capacity to mine the Bitcoin SV blocks was made public. This move seems to be a direct response to the predisposition of Bitmain and its pools to withdraw any support for Bitcoin Sv

Screenshot of the new Bitcoin SV Pool’s Website

An Inminent Chain Split

It is also important to note that the Bitcoin Cash community seems to be facing a split in the blockchain given the conflict between the configurations and philosophies of the Bitcoin ABC and Bitcoin SV groups.

While Bitcoin ABC follows the more traditional rules of the BCH community and is compatible with other proposals made by groups such as Bitcoin Unlimited, Bitcoin SV is not. And in case the Bitmain-dominated group of miners does not provide the necessary support, Bitcoin SV already has a prepared defense as Calvin Ayre, and CoinGeek have stated that they have a number of ASICs specially designed to mine Bitcoin SV which will be available to combat the Bitmain monopoly:

“CoinGeek also wants to announce that we have designed a super energy efficient, next generation ASIC chip design that will be released later this year. This Chip will be optimized for Enterprise level mining on Bitcoin using the original Satoshi Protocol. We will have a booth demonstrating this at the CoinGeek Week Conference last week of November in London and invite all miners to join us in planning for the future of this industry at this event.”

Welcome Bitcoin SV Alpha

The Bitcoin SV project had planned to launch a beta in September, however, due to the community’s insistence on evaluating the project, the development team decided to publish an Alpha release. It does not propose an immediate implementation but instead seeks to generate debate on its characteristics, errors, potential, etc.

“This is an Alpha release, the purpose of which is to provide a preview of the code in response to requests from miners and pool operators. This is not intended to be a release candidate. Work is still in progress targeting a beta release for 1st week of September in line with the initial Bitcoin SV announcement.”

So far, despite the controversy, Bitcoin SV seems to be on a roll, gaining support over time:

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New Chapter on BCH “Twitter Wars”: Bans, Blocks, Insults, and 3 Proposals Claiming to be “The Real Bitcoin”

The Bitcoin Cash (BCH) community is witnessing a war between its most important figures, who seem to disagree in the future that this controversial altcoin will pursue after some modifications were proposed, causing a strong debate that seems to be worsening every day.

Ever since Amaury Sechet, one of Bitcoin Cash’s leading developers proposed a change known as pre-consensus, the split of opinions and controversy began to create a strong sense of division in the community.

Amaury’s expulsion from the BCH Slack group was the start of a recent wave of controversy in which intolerance led the “leaders” behind the popular altcoin to bans, blockades, insults and discredits, weakening the image of solidity they sought to build since BCH was officially born as an altcoin forked out of the original BTC’s blockchain.

When Bitcoin Cash was born, one of the most significant premises was to create a blockchain with a higher level of scalability by increasing block size. The proposal was supported by a group of miners with strong hashing power.

Craig WrightCraig Wright

Let The BCH Games Begin

However, after Craig Wright, a well-known BCH advocate famous for his claims to be Satoshi Nakamoto — a statement that earned him the nickname of Faketoshi within the community of cryptocurreny users — proposed a fork and spoke against Jihan Wu, accusing him of leading the whole blockchain to a centralized state; users split into 2 groups. But it was the way of “debating” what has generated another black chapter within the community:

One of the characters who posted some controversial tweets was Cobra, bitcoin.org admin. In one of his controversial statements, Cobra says that his own  “Cobra-Client”, a BCH UANF (Bitcoin Cash User Activated No Fork) implementation, follows the true philosophy of the original Bitcoin, and is the best way to avoid a split in the chain. He commented that Bitcoin ABC (actual client) and nChain’s proposals are simply “scams.”

Likewise, in a previous tweet, he criticized the hypocrisy behind those who advertise BCH as “Bitcoin” while promoting a series of changes in the BCH blockchain; a scenario which precisely led to the BTC fork that gave birth to BCH

Craig Wright: Jihan Wu Will destroy Bitcoin Cash (BCH)

A few days later, Craig Wright also tweeted that Wormhole, a proposal backed by Jihan Wu, is an implementation that would likely destroy Bitcoin Cash:

Jihan Wu: Craig Wright is “a liar, fraud, plagiarist and an imbecile”.

For his part, Jihan Wu posted a tweet attacking Craig Wright for his positions. In the same post, he attached an article in which they refer to Craig Wright as “Faketoshi.”

He also retweeted a comment referring to Craig Wright as “a liar, fraud, plagiarist and an imbecile.”

Cobra: Jihan Wu and Roger Ver are Bad Leaders

Although Roger Ver has not spoken out, his traditional stance makes Cobra suspect of an “alliance” between him and Craig Wright, so he tweeted blaming him in part for the community’s bad times. He also said, this whole “mess” is a consequence of Jihan and Ver’s actions:

After this soap opera, Jihan Wu unfollowed Cobra and blocked Craig Wright.

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