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Showing posts with label bitcoin cash. Show all posts
Showing posts with label bitcoin cash. Show all posts

Bitcoin Cash Network Update and its After Effects


So finally, the split has taken shape, wherein as it was predicted there would be a split between Bitcoin ABC as well as Bitcoin Unlimited. There were some predictions to connect Bitcoin Cash Network Update and some of them have securely found their place in a ‘hard fork’.
Moreover, BCH Network Update was began on the 15th of November! The time this update began, Bitcoin ABC and Bitcoin Unlimited were leading Bitcoin SV. As per sources, these calculations were made based on hash rate beside number of nodes.

Rules of Bitcoin Cash Network Update
Rules are part and parcel of life; hence, it would not be wrong to say that this update brought about a shift in aspects wherein Cryptocurrency Exchanges have started to suspend BCH Trading including Withdrawals.

Know This
What is Bitcoin ABC?
Protocol Update News sent about differences flying in the air and hence there is a disparity clearly seen as already two camps have been set up. One of these camps is for implementation of Bitcoin Cash Network in Bitcoin ABC while the other is Bitcoin SV or Satoshi’s Vision.
For now, though, our focus shall be on Bitcoin ABC and what does it stand for?
Well, for the beginners, ABC in Bitcoin ABC is essentially an abbreviated form of ‘Adjustable Blocksize Cap’. According to the supporters of this structure, ABC does not require major modifications as it is complete in itself. At the max, there may be ‘removal of software bottlenecks’ apart from ‘change block size limit’ ability given to ‘node operators’.
When these changes are made then there would not be further requirements making the platform run smoothly without any sort of fluctuations. It is also to be noted that Roger Ver, a Crypto Evangelist supports Bitcoin ABC!

Bitcoin SV is also Not Far Behind
Yes, it is correct, Bitcoin SV, another camp that roots for implementation of Bitcoin Cash Network Update has some of the bright minds on the block. One may also be surprised to know that Bitcoin SV is led by none other than Craig Wright, who also claims to be Bitcoin Inventor (who went earlier by Satoshi Nakamoto!).
Change is the order of the day and so does Wright and rest of SV camp thinks because they are confident enough to say: a few rectifications here and there shall make the whole process great! They have hence put forth the idea of changing BCH Structure available at present. Plans are also under way to ensure that Block Size increases from 32 MB to 128 MB; would not that be great?
Bitcoin SV camp has made a decision to overwrite ‘Network Scripts of crypto Bitcoin ABC’ as well. With such and many other similar changes, there is certainly going to be a ‘clash of titans’ kind of a competition.

This shall certainly impact Crypto Market in the longer run (could be); another reason for such a statement is the fact that utilization of ‘hard fork’ resulted in the split of Bitcoin Cash thus, it would as a matter of fact be having its effects on the network!
What do you think about this?
Post your comments and let us hear it out.
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Bitcoin Crypto Basket ETP Has $400,000 in First Week’s Trading at SIX Swiss Exchange
Amun had recently launched Bitcoin ETP or the Bitcoin Exchange Traded Product on SIX Swiss Exchange, which is based in Zurich, Switzerland. For your information, SIX Swiss Exchange is one of the leading Swiss Stock Exchange for Trading of not only shares but also bonds, investment funds and exchange traded funds apart from similar other stuff.

$400,000 Collected from Trading Bitcoin ETP
Of course, in a week’s time from the minute Bitcoin ETP began its trade on SIX Swiss Exchange, it has amassed about $400,000 in trading. All this could happen post launch of it by Amun. It comes as a surprise because the collection as per reports has crossed even the turnover that usually comes from gold, oil or silver!
But one cannot be assured of the fact that this turnover would remain the same or no in the longer run. This Exchange Traded Product available at Swiss Exchange has Bitcoin, Ethereum, Ripple and Litecoin. Bitcoin Cash could not make it there due to Bitcoin’s hard fork that affected almost whole of cryptocurrency world out there making investors go berserk to a certain extent regarding what would be the next step.

Other Aspects to be Known about ETP or Exchange Traded Product
It was Amun AG’s idea to bring Exchange Traded Product aka ETP in to focus however, this is not the only aspect that has seen the daylight as there are other things as well which will be going to be a part of the whole set up soon.
One of them being ‘blockchain technology’; as Amun plans to have blockchain technique fit in with the backend processes. In addition to this, Swiss Exchange Traded Product is different from that of ETF seen in cryptocurrency. (Remember ETF in cryptocurrency is nothing but Exchange Traded Funds).

What is Swiss ETP?
ETP, like earlier stated is short form for Exchange Traded Product, it does not depend on futures.
In Hany Rashwan, CEO and Co-Founder of Amun AG words: “Whenever any investor is going to purchase it then corresponding amount of actual crypto assets is purchased besides being stored with qualified custodian.”

World’s First Multi Crypto Based ETP at Swiss Exchange!
Yes, it is going to be first of its kind in the world to have ETP/ Exchange Traded Product on SIX Swiss Exchange, again principal Stock Exchange in Switzerland! Interestingly this ETP is nothing short of a multi-crypto ETP at the global level and shall be listed under the Index HODL.

As reported earlier, there were five of the major cryptocurrencies listed here, namely: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) [already removed post hard fork], Litecoin (LTC) and Ripple (XRP).
And within a short span of time, ‘Bitcoin Crypto Basket ETP’ has already seen a surge of $400,000 in trading! When such a figure is indicated in the first week itself then it is to see what would happen in near future especially when Bitcoin ETP is in question.
A wait and watch policy, may be?!?

Bitcoin has dropped to an all-time low for the first time in 13 months and this is what has got every one sit up and take a note of. It indeed came as a surprise because some sections of the society still believed that there would be a rise as there had been a continuous fall of Bitcoins along with a few other cryptocurrencies.


12% drop of Bitcoins

Bitcoin has held the title of being ‘the Largest Cryptocurrency in the World’ since its inception, however, it has over time been stumbling down with the passing days. Though a little while ago, there had been a time when the price of Bitcoin remained steady but it was not long before Bitcoin prices started to decrease.

Why did Bitcoin Prices Go Down?

This has been one of the questions that some of us ask and the reason what we get is that: ‘a civil war lead to the downfall of Bitcoins, the biggest Cryptocurrency ever in the market’!

Rise in Bitcoin Prices: Bitcoin has generally maintained its position at $5,000 and usually it even touched and crossed $6,000 for the most part of 2018. While many of the crypto enthusiasts felt that Bitcoins would never fall below $5,000 ever again. But things did not work in this way as there has been a strong reason for this set back which many believe in.

Split in Bitcoin: Reasons for Bitcoin Price Drop: Many believe that this split in Bitcoins termed to be ‘hard fork’ which we had reported earlier as well, is one the major reasons for Bitcoins to take a dip in its pricing. There has been a case of enthusiasts stating that this division of Bitcoins could certainly affect pricing of Bitcoin in a negative way; this prophesy seems to hold ground here.

Roger Ver versus Craig Wright: Thoughts would Clash

A clash between Roger Ver, (strong supporter and an early investor to the Bitcoin family) apart from taking lead to Bitcoin Cash ABC and Craig Wright (an Australian Computer Scientist) who also claims to be Satoshi Nakamoto, mysterious inventor of Bitcoins led to the downfall of Bitcoins.
Hard fork, as this split was referred is stated to be the reason because many believed that such a division might in all probability ‘destabilize the market’. And this has what has happened today!




Other Reasons for Downfall of Bitcoin Pricing

Some experts think that there would be other reasons as well because only one reason could not lead to such drastic change in Bitcoin pricing.

If you remember, SEC made an announcement that a few operators from Initial Coin Offerings have broken the law and must pay for it.

Regulatory Space does not spare anyone so how could some one run away by breaking rules and not be booked for them? Upon reading this news, crypto investors had to take a decision.
While it is time that would say what would happen next, there is nothing permanent and there have been many incidents to say so due to the fact that a few experts think it is time for a change to come about pretty soon.