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Bitcoin Cash [BCH] takes a massive hike of close to 10% as it nears the hard fork

Priyamvada Singh

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Bitcoin Cash [BCH] takes a massive hike of close to 10% as it nears the hard fork
Source: Pixabay

While the cryptocurrency market continues to linger sideways, the fourth largest cryptocurrency and Bitcoin [BTC] hard fork, Bitcoin Cash [BCH] has taken off to another dimension of a successful price trend. At the time of writing, the token was showing a stark hike of 9.61%, trading at $464.33 with a market cap of over $8 billion. Its 24-hour trading volume was observed at $467.2 million.

BCH 1-hour candlesticks | Source: tradingview

BCH 1-hour candlesticks | Source: tradingview

Binance, the biggest cryptocurrency exchange in the world made an announcement today, where the platform declared its support for the upcoming hard fork of Bitcoin Cash. Here, Binance also gave instructions to its users who hold funds in BCH and warned them to be cautious and leave sufficient time for the deposits to be processed at the onset of the hard fork. It also added:

“Binance would like to confirm support for the upcoming Bitcoin Cash hard fork. We will take a snapshot of all Bitcoin Cash balances at UNIX time 1542300000, 2018/11/15 4:40:00 PM (UTC). Deposits and withdrawals of Bitcoin Cash will be suspended starting from 2018/11/15 3:00:00 PM (UTC). “

The history of BCH hard fork originates from the clash of interest among the community members of the community. While one side wants to carry out the nChain implementation of Craig Wright, the other side has decided to develop on the Wormhole protocol developed by the Bitmain team.



However, this is not the only issue surrounding the Bitcoin Cash ecosystem. The dispute that the ecosystem is centralized has also been raised by many in the past on several occasions.

Earlier this year, Jimmy Song, a popular Bitcoin influencer took a dig at Bitcoin Cash, calling it centralized and hence, a fiat currency. At a cryptocurrency blockchain cruise this year, Song stated the incident of the BCH split to be a fight for power and control over the ecosystem between Jihan Wu of Bitmain and Craig Wright, the self-proclaimed Satoshi.





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Priyamvada is a full-time journalist at AMBCrypto. A graduate in Journalism & Communication from Manipal University, she believes blockchain technology to be a revolutionary tool in advancing the future. Currently, she holds no value in cryptocurrencies.

Bitcoin Cash

Bitcoin Cash’s [BCH] Roger Ver: Kudos to those who hijacked original BTC and made it expensive, complicated

Akash Anand

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Bitcoin Cash's [BCH] Roger Ver: Kudos to those who hijacked original BTC and made it expensive, complicated
Source: Pixabay

Proponents in the cryptocurrency space have made it a point to push for the mainstream adoption of digital assets. One such proponent is Bitcoin.com’s Chief Executive Officer Roger Ver. In a recent podcast, Ver touched upon the reasons why Bitcoin Cash [BCH] was better than the current version of Bitcoin [BTC], while at the same time elucidated on the obstacles in the industry.

The BCH bull stated that,

“The key to being an investor is to invest in a good product before anyone else and that is what I did with Bitcoin all those years back. I got into Bitcoin because I knew that it would be useful in the future while at the same time bringing financial freedom to the entire world. Those are the same features that Bitcoin Cash has right now and many are saying that BCash is a scam and all that, to them I say that name calling is not an argument.”

Ver further spoke about the government clamp on Bitcoin and other cryptocurrencies, claiming that the lockdown that regulatory bodies have over user’s money is actually a ‘hindrance to our progress as a species.’



According to Roger Ver, Bitcoin is a tool to separate the control of money from the state. He was also asked whether anyone could stop Bitcoin and its effects, to which Ver had his own suggestions. He said that if anyone wanted to hinder the world’s largest cryptocurrency, then the best way is to make it too expensive or too complicated to use. In his words,

“Becoming too expensive or too complicated to use is what has happened to the current version of BTC and is something that BCash is trying to move far from. I want to say kudos to the people who hijacked the original BTC product and the thing is a vast majority of the people do not realize what actually happened.”

Ver was in the news recently after he attacked the BTC camp, stating that it is toxic and full of censorship, trolling behaviour.





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