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Thread: All Information About Bitcoin
  1. #241
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    Bitcoin Cash Drops 5% as Crypto Market Retraces, Tokens Take a Hit

    After demonstrating nearly a 50 percent gain within a three-day span, Bitcoin Cash dropped five percent of its value against the US dollar.

    The volume of Bitcoin Cash, which hovered at around $1.4 billion on November 6, has since dropped to $950 million, by 32 percent. Still, on a weekly basis, the volume of Bitcoin Cash is up from $750 million from $200 million.

    Ripple (XRP), EOS, and Stellar (XLM), three major cryptocurrencies that experienced fairly large gains against both Bitcoin and the US dollar, recorded a drop in the range of 3 to 5 percent, with XRP dropping back to $0.5.

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    ‘You Are My Enemy’: Bitcoin Cash Sides Clash as Hard Fork Looms

    Ongoing drama surrounding the upcoming Bitcoin Cash (BCH) hard fork struck a personal note with the coin’s best-known figures Nov. 8, as Craig Wright evidently called Roger Ver his “enemy.”
    The hard fork, scheduled for Nov. 15, will likely see BCH split into two rival chains: Bitcoin Cash ABC, favored by Ver, and Bitcoin Cash SV, authored by Wright’s nChain.

    The split comes as a result of Ver and Wright, among other figures attached to BCH, disagreeing over the coin’s future, with those disagreements becoming increasingly public and strongly-worded in recent weeks.

    On Thursday, Nov. 8, tempers appeared to boil over, Ver releasing what appeared to be a screenshot of an email sent to him by Wright during a video about this “thoughts” on the hard fork.

    In the alleged email, Wright claims Ver “hates Bitcoin” and describes him as his “enemy,” before ending with a thinly-veiled threat.

    “I AM Satoshi,” he writes, repeating his controversial assertion about being the creator of Bitcoin itself. The letter continues dramatically:

    While Wright has yet to comment on the validity of the email, rhetoric has continued to come from his Twitter account, certain posts capturing the imagination of online commentators.

    Summarizing his feud with Ver, the analyst known as Ray highlighted further accusations by Wright that both Ver and Bitmain CEO Jihan Wu, who also supports ABC, wanted to promote child pornography.

    “This is the ONLY real use case they have and it is not happening!” Wright wrote on Twitter Thursday.

    At press time Nov. 9, the anger continued, Wright adopting a curious tone about his own BCH faction, describing it as “not tolerant” of alternative proposals.

    “ABC care about many coins and experiments. We (SV) care ONLY for the original version of Bitcoin,” he tweeted, adding:

    “We are NOT tolerant. We will not capitulate. We will not surrender. We will not negotiate. We will not end.”

    BCH/USD has dropped more in the past 24 hours than any of the top ten altcoins, losing 4.8 percent to trade around $570.

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    What Bear Market? Major Bitcoin Mining Farm Goes Live in Canada

    The bitcoin mining facility that DMG Blockchain Solutions announced it was building in British Columbia, Canada in July is now operational.

    Though the full capacity of the facility is 85 megawatts, initially only 60 megawatts will be made available at the operation that occupies 27,000 sq. ft. The power that the Mining as a Service (MaaS) operation will be using if generated purely from hydroelectricity. Besides installing a power substation purely for its needs, DMG has also had to build a road to the facility.

    Unlike other crypto mining facilities which have been accused of impacting the power needs of the local communities in the places where they set up shop, DMG’s facility in British Columbia will not disenfranchise the local community — at least according to its operators.

    “The power that DMG is bringing to its new facility is enough to power a city of 50,000 homes, but is independent from the local community grid,” said a press release from DMG Blockchain Solutions.

    The project is a few weeks late as it had been anticipated to be operational by September, CCN reported in July. At the time, the diversified crypto and blockchain firm had said that the 85MW Canadian facility would increase its capacity by over 20 times.

    Due to the abundance of cheap hydropower, Canada has become one of the most preferred locations for bitcoin mining. The low temperatures also enable miners to reduce their cooling costs.

    Earlier in the year, it was reported that crypto miners were leaving China over fears of a regulatory crackdown and heading to the North American country. Some of the Chinese cryptocurrency miners that were said to be preparing to move to Canada at the time included Bitmain, ZQMiner, and BTC.Top.

    Bitcoin mining firms have, however, not been embraced wholeheartedly in all regions in Canada. Earlier this year, Quebec placed a moratorium on cryptocurrency mining after a deluge of firms in the sector flooded into the region.

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    Cryptocurrencies have changed the way we look at fiat currencies, and the way money gets transferred today. Additionally, these digital assets have proven to be a passive income (remember Ripple’s XRP was most profitable coin last year, so it changed many lives) for many due to the enormous profits they gained. Without no doubt, most of these cryptocurrencies have to be mined before they are attained.

    When you hear of ‘Crypto-mining’, what comes to your mind will be high energy usage. Based on some factors including energy usage and how eco-friendly some might be, there is a big difference between Ripple, Bitcoin, and traditional technology Visa.

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