Category Archives: Bitcoin Cash (BCH)

A Bitcoin User’s Guide on Upcoming Forked Coins

Like it or not, forking bitcoin has become an efficient approach for blockchain teams to receive quick money.

How many forks will we have? Are there services support them?

A Glimpse at Forked Coins Already Existing

Bitcoin Cash (BCH), the first bitcoin fork, was only listed on Viabtc when it first came out. Most of the bitcoin community, if not all of them, thought it was just a joke at first. The emergency difficulty adjustment (EDA) mechanism BCH adopted led to unstable block times, but since the November 13 upgrade and recent price spikes, it is safe to say that BCH has survived and is enjoying more support from exchanges and wallets.

Bitcoin Cash (Image: M. Verch/Flickr)
Bitcoin Cash (Image: M. Verch/Flickr)

Ordinary wallets supporting BCH include: Bitcoin.com, Electron Cash, Coinomi, Webmoney, Strongcoin, Stash, Jaxx, Bitpay, BTC.com. Hardware wallets: Ledger, Trezor, Keepkey. Paper wallets: Cashaddress, Walletgenerator. Mobile wallets apps: Bitcoinindia, Mobi and more. Official BCH wallets: Bitcoin ABC, Bitcoin Unlimited, XT, Parity, and Bitprim.

Bitcoin Gold (BTG), the GPU-friendly forked coin based off of bitcoin, was created on October 25 to compete with BCH and to fight mining centralization, according to its creator Jack Liao.

Ordinary wallets supporting BTG: Coinomi, Bitpie, Guarda, Freewallet. Official BTG wallet: BTGWallet.online. Hardware wallets: Trezor, and Ledger. News.Bitcoin.com spoke with Ledger’s Vanessa Rabesandratana who shared how to claim BTG at Ledger.

Read more: News.Bitcoin

Cash, Gold, 2X — What the fork!

Repost from HackerNoon

After all, what was going on with Bitcoin in the last few months?

It looks like, in the last few months, Bitcoin has made friends with forking. When I wrote about Bitcoin forking the last time, I didn’t expect there would be this many so soon. But hey, here we are, trying to make sense of what the hell is happening in the crypto world.

Bitcoin fork pen and bitcoin keychains (Image: BTC Keychain/Flickr)
Bitcoin fork pen and bitcoin keychains (Image: BTC Keychain/Flickr)

With this article, I try to put everything that has happened since Bitcoin Cash in a proper order that would become anyone’s go-to article for learning about Bitcoin forks between August 2017 and November 2017.

🍴 But first, what is a fork?

“You don’t need a silver fork to eat good food.” — Paul Prudhomme

You can think of blockchain ledger as a stack of pages. Every full node in the network keep a copy of this stack of pages with themselves. Everyone’s copy of the ledger is exactly the same because everyone followed the same set of rules to build it.

So, if there are ten people in the network, each of them will have a copy of the ledger that would look something like this:

Read more: HackerNoon

Bitcoin Cash Skyrockets, Bitcoin Price Drops As Civil War Continues

Well, get your popcorn after all.

Earlier this week, a planned hard fork on the Bitcoin blockchain that threatened to create two new coins, causing disruptions on exchanges and potential losses for users on both sides — but also possibly one of the most exciting chapters in Bitcoin’s history — was called off.

Bitcoin Cash (Image: M. Verch/Flickr)
Bitcoin Cash (Image: M. Verch/Flickr)

But in the last few days, a previous fork of Bitcoin (BTC) called Bitcoin Cash (BCH) that was launched in August and immediately dismissed by many Bitcoiners and the wider crypto world alike, has skyrocketed in value. After languishing in the $300 range for a while and jumping up to the $600 range in November, it has now nearly quadrupled to around $2,500 a coin as of press time — it had traded as low as $650 on Friday.

Meanwhile, Bitcoin, which was trading at an all-time high of around $7,800 on Wednesday, is now down to around $6,000 as of press time but had dipped as low as about $5,500.

Read more: Forbes

Bitcoin Price Decline Continues As Markets Drop Below $6,500 (£4950)

The price of bitcoin is down more than 8 percent, continuing losses that began after the cryptocurrency slipped below the $7,000 mark.

Markets have fallen to as low as $6,475.40, according to the CoinDesk Bitcoin Price Index (BPI), the lowest level reported since Nov. 1, when markets traded between $6,357 and $6,750.17. Markets slid below $7,000 earlier today in a reversal of the bullish market moves seen earlier this week that pushed the price of bitcoin close to $7,900.

Bitcoin price chart (Image: geralt/Pixabay)
Bitcoin price chart (Image: geralt/Pixabay)

Earlier in the day’s trading, the price had climbed as high as $7,330.06, with today’s fall marking a more than $600 decline since that level.

At press time, bitcoin is trading at $6,572.24.

The price decline is in contrast with the gains seen today in the market for bitcoin cash, which according to CoinMarketCap is up more than 43% in the past 24 hours.

At press time, Bitcoin cash is trading at roughly $882 on Bithumb, the largest exchange by trade volume for that cryptocurrency.

Source: CoinDesk

Stuck in Limbo? Bitcoin Cash Price Clocks 9-Day High

Bitcoin cash price caught a fresh bid wave today, reaching a nine-day high of $373.

At press time, the bitcoin cash-U.S. dollar (BCH/USD) exchange rate is trading at $346 levels. The relatively new cryptocurrency has gained 4.12 percent in the last 24 hours, as per CoinMarketCap.

Bitcoin Cash (Image: M. Verch/Flickr)
Bitcoin Cash (Image: M. Verch/Flickr)

Still, the cryptocurrency has been restricted to a narrow range around $330 in the last two weeks, with only occasional spikes above $350. Meanwhile, the downside was capped below $300 levels.

However, today’s price gains look sustainable as trading volumes are on the rise. Notably, the rally to $350 levels on Thursday was backed by a 54 percent boost in volume, according to CoinMarketCap data.

Once again, it seems gains are being fueled by a surge in South Korean trading – volumes on Bithumb (which offers a BCH/KRW pair) are up 42 percent.

Read more: CoinDesk