Posts Tagged ‘Bitcoin Cash’

How Many Bitcoin Forks Are There And Should You Care About Them

29, Aug 2019

For a lot of people there is only Bitcoin (BTC) and a couple of other popular forks for Bitcoin such as Bitcoin Cash, Bitcoin SV or Bitcoin Gold, but in reality there are much more than just these. According to a website called Forkdrop that is tracking the available Bitcoin, as well as some altcoin forks, the number is quite big already – there are 105 Bitcoin fork projects in total, though not all of them are active or operational yet. Of those 105 in total, 74 are considered active projects relevant to holders of Bitcoin (BTC) and the remaining 31 are considered historic and are no longer relevant. Furthermore of the 74 active Bitcoin fork projects 45 projects have a currently-operating blockchain network capable of transacting and 29 projects do not have a currently-operating blockchain network capable of transacting, however are considered to be still in development.

You might be interested in checking these Bitcoin forks, especially if you have held bitcoins for a long time and are in full control of your private keys/wallets as you might be able to claim some of these coins for free. With some of these Bitcoin forks you are entitled to 1:1 of the respective coins you had in BTC at the time of the fork others have provided airdrops or are still providing for the holders of coins at a specific block at which the fork occurred and a snapshot has been made. The idea is that some of these projects are more or less established and have a decent trading volume and are present on exchanges, so it could be some free money for you or an extra bag of coins to hold for a better future. Either way it is worth checking out the information provided by Forkdrop as it might be helpful and profitable.

– Check out the website Forkdrop for more information about the available Bitcoin forks…

Only BCC Payment Method Accepted for the Latest Batch of Antminer S9

1, Oct 2017

Something interesting and not so nice regarding Bitmain and their latest batch of Antminer S9 ASIC miners, it seems that although the company is listing prices in USD, BTC, BCC and LTC on their website it will only accept payment in BCC (Bitcoin Cash) for the batch of miners shipping November 21-30. As a maker and seller of these devices Bitmain of course has the right to sell them any way they want and accept the payment in the form they choose, but this way of essentially “forcing miners” to buy BCC to pay for the hardware (in case they do not have it) is probably not very “politically correct”. It is understandable that they want to support BCC, but is this the right way to do it or it will fire back with users going to alternative options for ASIC miners (not that there are many available unfortunately)…

The questionable text about BCC payment for the batch is under Payment and is quoted below:

Only BCC payment method is accepted in this batch, please use the exact amount mentioned in your order and complete the payment within one hour. After one hour, the order will expire and your payment may not be detected by the system automatically. If the payment is submitted but the receipt is delayed, we will make your payment “Valid” manually.

Bitcoin Cash (BCC/BCH) Has Forked, But Things are Moving Slow

2, Aug 2017

Bitcoin Cash (BCC or BCH depending on the exchange) has successfully forked yesterday around the planned time, but things are still moving slow. Some of the exchanges such as Bittrex and Kraken were pretty quick to respond in crediting users with BCC/BCH coins and launching trading. The increased demand and high volatility however is still causing issues for some exchanges such as Kraken that apparently is having trouble with their infrastructure handling the load. Still most if not all exchanges that started supporting Bitcoin Cash and offer trading have not yet enabled deposits from local wallets. Even if they do at the moment, it could still take a day for a transaction to be confirmed and be credited in the exchange. We still need to wait a bit more for the difficulty of BCC/BCH to adjust to the significantly lower hashrate and the blocks to start moving at a faster pace as they are currently taking a lot of time, much more than just 10 minutes per block.

The price volatility of Bitcoin Cash is very likely to continue as there is a lot of speculation and actually not that much coins in circulation in exchanges. It seems that quite a lot of people proffered to keep their BTC and get BCC/BCH with a local wallet where they have full control over the private keys and the coins inside. This means that the coins in exchanges will remain less than apparently the demand there is at the moment, but as soon as deposits to exchanges are allowed the Bitcoin Cash price may start a downward trend. This is especially true if most people do what they were planning – namely dumping the “free” BCC/BCH coins they have received for BTC or other altcoins. Still, we are yet to see what is going to happen as things may end up very different than what some people expected or planned. We are still in favor of Bitcoin (BTC) over any forks such as Bitcoin Cash (BCC/BCH), but the new fork is already getting decent support and slowly building momentum.

If you take a look at the coin market capitalization, then you might be surprised that the market cap of Bitcoin Cash (BCC/BCH) is already at almost 8 Billion USD and that is placing the currency as number 3 in terms of capitalization. BCH is just after Bitcoin (BTC) and Ethereum (ETH) in terms of market capitalization, but that is the situation at the moment and with the high price volatility things could change at any moment. Ripple (XRP) is not that far behind on the 4th place at the moment, so even a slight change in price may cause BCC/BCH to lose its 3rd place. Litecoin (LTC) is number 5 and it is with much smaller market cap in order to take one of the higher places. Anyway a significant price correction with deposits enabled on crypto exchanges and much higher trading volume of Bitcoin Cash could as well shake things up or down significantly, so be prepared for this as well.


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