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Bitcoin Cash proponent Calvin Ayre dissing Bitmain; an insider look into the BCH meetings

Priyamvada Singh

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Bitcoin Cash proponent Calvin Ayre dissing Bitmain; an insider look into the BCH meetings
Source: Pixabay

On 1st September, Calvin Ayre, the Founder of Ayre Group and Calvin Ayre Foundation, and a Bitcoin Cash proponent released a post talking about the recent matter of the Bitcoin Cash split. In the blog post, he mentioned a brief history of the hard fork of Bitcoin. He also criticized Bitcoin ABC and its new idea of Wormhole implementation. Here, he blamed the mining company Bitmain, calling it an ally of the blockchain firm Blockstream.

Ayre stated that the model of Wormhole is economically flawed as it follows the idea of destroying BCH to create tokens, which is ‘counter-intuitive’. He wrote:

“Nobody destroys gold or silver in return for something else… rather, we sell it for something else. This economic model will cannibalize and kill Bitcoin entirely.”

In regards with the Proof-of-Stake protocol, Ayre mentioned that Bitmain could possibly use it in Wormhole to have a grip over the system and the pre-existing tokens that have already been issued by the party. Taking the allegations further, the businessman said that this plan is wrong for the miner community, hence, it will recognize the flaw in Wormhole before it is too late.

Ayre also shared his views consisting of the mining giant Bitmain being involved in shaping a conspiracy with Blockstream. Blockstream is a provider of blockchain technology that also pays attention to the areas of counterfeiting frauds, maintaining transparency, security and confidentiality in the space.



Post the quick summarization of the Bitcoin Cash history, Ayre mentioned about a meeting in Bangkok, Thailand that originated from the current complications related to the split. He stated that several meetings were dedicated to miners only, although nChain is also a developers group. nChain is a blockchain based company which is also the opponent side of the BCH split war.

Another set of meeting that happened involved Bitmain, Bitcoin Unlimited and nChain members. Ayre stated that Bitmain was the only party to refuse to side with Satoshi Vision and Miners Choice. Aiming sarcasm at Bitmain, he wrote:

“Miners Choice is bad for miners and Satoshi got this wrong. Close your eyes, pucker your lips, hum Kumbaya and release your destiny to the warm embrace of brother Jihan.”





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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

John McAfee says he will reveal Nakamoto’s identity, Coinbase expands to 11 countries, and more

Priya

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John McAfee says he will reveal Nakamoto's identity, Coinbase expands to 11 countries, and more
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Daily Crypto News – April 18

1. John McAfee on Satoshi Nakamoto: The Founder of McAfee Associates stated that he would narrow down on the identity of Satoshi Nakamoto until he reveals Satoshi himself, otherwise he would reveal his identity to the crypto community. He also spoke about how he knows about Satoshi, to read about it, click here!

2. Coinbase expands its services to more countries: The leading exchange platform announced that it expanding its services to 11 more countries, which includes India, South Korea, and New Zealand. People in these countries can avail services provided on Coinbase.com, Coinbase Pro and its app on iOS and Android.

To know more about the countries Coinbase has expanded to, click here!

3. Craig Wright says the crypto-community want to silence him: Craig Wright, the self-proclaimed Satoshi Nakamoto, stated that the majority of the community was against him as they “desire to silence” him because they see someone who would bring an end to scams and pumps and dumps.

He also spoke about the next steps he would be taking in terms of the legal action concerning his defamation case. To read about it, click here!



4. Binance “marks the birth of a new genesis block”: The largest cryptocurrency exchange in terms of trade volume announced the launch of its Decentralized Exchange, and also stated that the mainnet swap would take place on 23 April 2019.

To read more about Binance DEX, click here!





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