The show known as Magical Crypto Friends recently received its latest iteration, with the parties, Charlie Lee, the creator of Litecoin [LTC]; Samson Mow, the Chief Strategy Officer at Blockstream; WhalePanda, an influencer, and Ricardo Spagni, the lead handler of Monero [XMR]’s code, speaking about one of the most controversial topics that have been occurring in recent times, the BCH hard fork.
They offered their opinions on the Bitcoin Cash [BCH] hard fork, which has since resulted in the coin splitting in two. The two tokens that are now being traded in place of BCH are Bitcoin Cash ABC, headed by Jihan Wu and Bitmain, and Bitcoin Satoshi’s Vision, headed by Coingeek, Calvin Ayre and the infamous Craig ‘Faketoshi’ Wright.
They began by speaking about the fork on the Bitcoin Cash [BCH] chain, with Lee stating:
“The thing, why is there so much drama when miners should be the ones deciding. There shouldn’t be any drama right…whoever has the most hashrate wins ”
WhalePanda responded by speculating whether Jihan Wu, the CEO of Bitmain, could dump 1 million of the Bitcoin Cash SV token on the market, or whether he would not do so due to the company’s upcoming IPO. Mow responded:
“I think Jihan could only play with his call his personal stuff now. He can’t use company resources to muck around because they’re under heavy scrutiny from the Hong Kong Stock Exchange. The question is how much money and hash rate he’s got on his own to play.”
WhalePanda also stated that Bitmain has around $500 million in debt to their chip manufacturer, in response to rumors of Taiwan Semiconductor Manufacturing Company, Bitmain’s chip supplier, terminating relationships with them owing to the same. He went on to say:
“It will be interesting to see how that turns out. At the same time Bcash is now pumping because of the upcoming fork. Maybe it’s because Coinbase and Bitcoin.com and Roger Ver of course all said that they would support Bitcoin ABC.”
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Bitcoin Cash would be a perfect global coin for daily spending, claims Chainblock’s Federico Pecoraro
Federico Pecoraro, CEO of Italy-based crypto-company, Chainblock, made waves in the cryptospace after he suggested that Italians were shifting to cryptocurrencies owing to the country’s growing economic problems. The 2008 financial crisis hit the Italian economy badly, largely due to the huge public debt accumulated after years of excessive public spending.
According to Federico Pecoraro, the state of affairs offers an opportunity for many people and businesses to benefit from using decentralized money. In what is the most newsworthy bit of his take, he said that Bitcoin Cash (BCH) could be the cryptocurrency that would fit perfectly as a real global coin for daily spending, despite the fact that Bitcoin (BTC) is more likely to emerge as a better store-of-value. He added,
“We’re proud to support it on our products. Indeed, our clients have the opportunity to buy BCH through any of our services.”
Pecoraro also spoke about how Chainblock used the crypto-winter to develop new products and expand its customer base. He revealed that by the end of 2018, Chainblock recorded a 156% increase in transactions and a 144% increase in new users. Federico Pecoraro told Bitcoin.com,
“We love small businesses that want to accept crypto payments but we want to enable as many merchants as we can with a strategic market approach. Our goal is to provide affordable and scalable solutions for both big and small shops and spread real cryptocurrency mass adoption. We plan to enable 5,000 merchants to accept Bitcoin payments.”
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