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Bitcoin Cash [BCH] pumps after Bitcoin.com announces privacy focused P2P exchange, Local Bitcoin Cash

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Bitcoin Cash [BCH] pumps after the announcement of the privacy focussed BCH P2P exchange, Local Bitcoin Cash
Source: Pixabay

Bitcoin Cash, the sixth largest cryptocurrency in the world, surged after Bitcoin.com announced the introduction of a new peer-to-peer exchange, Local Bitcoin Cash.

Unlike most cryptocurrencies, Bitcoin Cash was not exhibiting sideways movement. The bull rally for Bitcoin Cash started in March 2019, when the price was $125 and the market cap was $2.27 billion.

Source: TradingView

The price rose by approximately 31% between 12 and 23 March, 2019, a massive pump considering the bear market and the performance of other altcoins. The price pumped by approximately 9.24% after the announcement of the P2P exchange.

At press time, the cryptocurrency was priced at $164.50, and the market cap was $2.94 billion. P2PB2B contributed a whopping $36 million in 24-hour trading volume via the trading pair BCH/BTC and $23 million via BCH/USD.



With the launch of the new exchange, users will be able to directly exchange BCH in a private manner. According to Bitcoin.com, the exchange will have three important features that will set itself apart from other crypto exchanges. The article stated,

“Firstly, privacy will be of utmost importance for Local Bitcoin Cash users. Secondly, the platform will provide end-to-end user side encryption; a system of communication where only users can read and decrypt their messages. Finally, just like our popular noncustodial Bitcoin.com Wallet, the peer-to-peer Local Bitcoin Cash exchange will be secure as the service never touches your funds.”

Further, the exchange will also allow a multitude of payment options, allowing users the option to see who is buying or selling so that “offers” can be considered.





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin Cash

Bitcoin Cash [BCH] network is ‘inflated centralized garbage’, tweets Bitrefill’s John Carvalho

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Bitcoin Cash [BCH] network is "inflated centralized garbage", tweets Bitrefill's John Carvalho
Source: Pixabay

John Carvalho, the CCO of Bitrefill and a Bitcoin enthusiast has never shied away from expressing his disapproval of Bitcoin hard fork coins. In his most recent Twitter attack, Carvalho said that BCH was a “counterfeit” of BTC, calling the former’s network “inflated centralized garbage”. He tweeted,

“Bcashers argue against BTC scaling with a punchline of “buy more BCH!” Kinda embarrassing, but they chose a future of begging for liquidity.”

The response followed a recent thread by Peter R Rizun, the Chief Scientist at Bitcoin Unlimited, who stated that the second-layer solution, Lightning Network [LN], could not solve the issue of scalability and high fees plaguing the Bitcoin network.

He opined that once bigger blocks came into the picture, BCH would benefit more as the fork coin’s roadmap was far superior than that of Bitcoin [BTC]. He tweeted,

“This will kick off two competing dynamics within BTC: voice and exit. Some will voice the need for a block size limit increase, while others will exit to BCH as the path of least resistance. Whether BCH flippens BTC at this point will depend on which dynamic is stronger.”

The Chief Scientist added that BCH had more positive aspects and that the “uncertainty” factor would help the fork coin post gains higher than BTC.



Following BitcoinErrorLog’s response to the original tweet, many BTC maximalists expressed a similar sentiment. One of them, Gru, joined in and stated that BCH was cheaper because it was “inherently less valuable”.

Carvalho has been quite vocal about Bitcoin’s scalability solutions, even terming the LN as a trailblazer. This is also not the first time the CCO has called out BTC’s fork coins. Previously, he had criticized all fork coins, calling them a scam and a huge waste of both time and money.





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