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Petition for updating Bitcoin Cash [BCH] circulation on CoinMarketCap has been filed on Change.org

Joel Mathew

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Change.org - petition for updating BTC circulation on coinmarketcap
Source: Max Pixel

A petition has been put up on Change.org asking CoinMarketCap to display accurate information regarding the circulation supply of Bitcoin Cash [BCH]. The recent reports confirmed by Bitmain, world’s largest mining company, stated that it is burning BCH to create more demand.

The company has been burning down the BCH fees for mining BCH. This has brought in a FUD in the market after the coins were burnt by Antpool, a Bitmain technology. Subsequently, CoinMarketCap is not able to account the burnt-lost BCH while displaying the circulating supply.

Bitmain was founded in 2013 and is known for developing powerful ASIC chip technology. The ASIC [application-specific integrated circuit] is a specialized computer used for mining cryptocurrency. It has developed the world’s most power-efficient cryptocurrency miner, Antiminer S9.

The company is the prominent leader in mining Bitcoin around the world. Recently, it was reported that the company is burning away 12% of its BCH revenues. The critics believe it to be a small amount but crypto-maniacs around the world have become restless even for a fractional difference.

Bitcoin Cash [BCH] is currently trading at a price of $1,312 and with a market capitalization of $22 billion it is dominating the market. BCH is gaining a lot of attention after the burning reports been out. On CoinMarketCap it depicts a circulating supply of 17 million coins, which, according to critics is wrong and further misleading investors.

Change.org is a social activist online forum which provides space for people with common interest and issues to sign a petition for change. This NGO works for the betterment of the society and aims to bring justice for the people’s rights.

Samakt on Reddit says:



“Haha, that is a funny thing to do. No one will force them to do anything. They even promoted bitconnect scam so much when everyone was saying it’s a scam.”

Seisure, a crypto-critic says:

“The act of burning money is ridiculous. I never thought mining companies would go to such far lengths to burn their own mined currency. This is a powerful manipulation of circulation supply.”

Hefsardo, on a social media forum, says:

“Decentralization is a joke. And how can you expect coinmarketcap to calculate the burnt money? Is this the formula- total circulation supply- total burnt money= available tokens”





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Joel Mathew is a full-time creative content writer for AMB Crypto. He's an English honors graduate from Christ University. He's skilled in research analyses and produces valuable content in the field of blockchain and cryptocurrency.

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Bitcoin

Bitcoin Cash’s [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite ‘cheating’

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Bitcoin Cash's [BCH] Roger Ver accuses Tone Vays of losing BCH vs BTC bet despite "cheating"
Source: Pixabay

Bitcoin [BTC] has often been reprimanded by the Bitcoin fork coin maximalist due to its scalability, block size, and mining fees, among other things. The debate surrounding the digital coins at the joint edition of CC Forum and Malta AI & Blockchain Summit witnessed an argument between BCH’s Roger Ver and Bitcoin maximalist Tone Vays.

The fork coin enthusiast and the CEO of Bitcoin.com, Roger Ver, argued that the transaction fee in case of BTC was $3, which made it extremely expensive. However, Tone Vays, a Bitcoin core personality, said that he used the king coin frequently and had never paid more than $1 as fees to settle payments. This led to the CEO asking Vays to pull out his wallet and send him $5 worth of BTC. Subsequently, Ver placed a bet of $10,000 for any charity of Vays’s choice if the latter was able to send $5 with a transaction fee of 5 cents in 24 hours.



Tone made a transaction on-stage and later posted a victory tweet:

Responding to the above tweet, the CEO accused Vays of cheating and losing the bet in a new video. Firstly, Ver noted that the transaction did not clear within the day and added that it took ten hours to get included in the block. Secondly, he explained that Tone’s transaction was the “highest priority” [higher the transaction fee, higher the priority] in the entire ecosystem and was prompted by Slush Pool’s insertion. He said,

“I don’t know if Tone asked Slush, I don’t know if somebody else asked Slush, I don’t know if Slush did on its own. Maybe slush has a transaction accelerator thing where you can pay with a credit card to include your Bitcoin transactions in the block but anyhow Tone is the highest priority transaction in the entire block.”





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