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What is Bitcoin Diamond (BCD)?

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Bitcoin Diamond

Bitcoin (BTC) has been the most prevalent digital currency of its circumstances. Be that as it may, it isn’t free from its weaknesses. BTC exchanges have been setting aside famously long opportunity to process and they have gone costly after some time. This is on the grounds that BTC squares have been constrained to one megabyte in the estimate, which converts into around three exchanges for every second. BCD, or bitcoin diamond (bcd) then again, has now raised the square size breaking point to eight MB, this will enhance exchange limit and pieces will be created five times speedier. The cost of BTC exchanges has been rising, which has been throwing a shadow on its down to earth applications. BCD, then again, looks to cut down costs identified with exchanges. A BCD official was cited at a question and answer session as saying:

“Our essential target is to bring down the cost of investment limits by decreasing the exchange expenses and the cost of interest. The aggregate sum of Bitcoin precious stone is 10 fold the amount of Bitcoin, which converts into diminishment of the cost of new interest and lessening of the edges.”

At long last, right now BTC exchanges are obvious in people in general space and anybody can see information identified with how much sum is in someone else’s wallet and their directed exchanges also. BCD will encode the sum and adjust, which will bear the cost of more prominent security to clients of the new digital money.

What Does Bitcoin Diamond bring to the table?

Regardless of whether Bitcoin Diamond is a superior Bitcoin, relies upon who you inquire. As of late, there have been hard forks that have prompted the development of Bitcoin Cash, Bitcoin Gold, Bitcoin Private and Bitcoin Diamond. The thought behind a hard fork is that another chain develops, and ideally a superior one. The expressed an extreme point of Bitcoin Diamond is to wind up “the better coin” which does not experience the ill effects of an absence of security assurance, moderate exchange affirmations or a high limit for new individuals. This will enable them to give better answers for monetary organizations around the world.
The aggregate supply of Bitcoin Diamond would be 210 mln or 10 times more than that of Bitcoin. 170 mln of these coins would be available, while the rest would be held for the group in a ‘prizes pool’ for the motivations behind tributes and mining. One of the reactions that have been made about Bitcoin Diamond was that the groups behind the digital currency have stayed mysterious, yet we ought not to overlook that to date the author of Bitcoin has remained a mystery also. Obscurity ought not to come in the method for reception and by the day’s end markets will uncover if Bitcoin Diamond offers includes that they believe are justified regardless of their while. Until further notice, you can pick the Bitcoin that you like.

#Bitcoin

Happy Genesis Block Day, Bitcoin getting stronger: BTC to the moon

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January 3rd, 2009, the genesis block of bitcoin of bitcoin was launched by Satoshi Nakamoto. In that genesis block was written a very important statement.

January 3rd, 2009, the genesis block of bitcoin of bitcoin was launched by the anonymous founder Satoshi Nakamoto. In that genesis block was written a very important statement about why bitcoin was created and a sign of the times in the failure of monetary policies of central banks and governments. Bitcoin is like rat poison for all the bankers as it is designed to bring the whole system down.

Bitcoin has been declared dead hundreds of times by the media and Bitcoin has survived all kinds of FUD such as Mount Gox, China crackdown and a lot more but bitcoin keeps pressing on which shows the resilience of the community and the network together to continue in the phase of all of these different things happening. No one has been able to stop bitcoin yet and as mentioned Satoshi Nakamoto to this day remains a mystery.

 

Ross Ulbricht:

Ross Ulbricht is still in jail to this day because of his grand crime of hosting a website where people bought and sold substances that could alter their conscience personally and a lot of that was done using. The fact that he is still in jail just screams of the overall injustice of the entire system that we are facing to this day.

 

Bitcoin Forks:

The forkers in the market have gone off and forked bitcoin quite a few times but it seems that Bitcoin or BTC particularly has been decided on at this time by the market. All of the alternative visions of bitcoin particularly bitcoin cash and bitcoin satoshi vision are really struggling especially after their most recent split up. The market is choosing BTC and not Bitcoin Cash or Bitcoin Satoshi Vision.

 

Censorship Resistance

There has been a lot of interesting things happening in the bitcoin space recently. BlockStream‘s satellites, for example, are going to next level censorship, you do not need the internet to connect, you can connect directly by a small dish on your house to the satellites in space. This is a very big development as it helps reach so many people that don’t actually have regular access to the internet. Right now, BlockStream’s satellite covers almost all regions of the world.

 

Lightning Network:

Lightning Network is a second layer scaling solution and it is growing all the time. It has surpassed a 510 bitcoin capacity currently, the number of channels over the last month in December has grown by 26%. There are different companies that are working on these implementations for lightning payments and as such, it is only getting bigger all the time and the technology is only getting better. Lightning will be a serious factor in the future of bitcoin in terms of scalability.

 

Snort Signature

Snort Signatures are digital signatures scheme which at a technical level is going to give bitcoin users a new way to generate cryptographic keys, also increasing bitcoin’s privacy and scalability. So this is a very important thing. It is worked on at the moment, we don’t have that implemented yet but it is coming and when it does come it will be an important part of the technical features of bitcoin.

 

Bitcoin Side Chains:

Bitcoin Side Chains are also very important in terms of expanding the use cases and functionality of the bitcoin mainchain. RootStock, for example, will bring smart contracts to bitcoin. BlockStream’s liquid will help to ease transactions between liquid providers. So a lot of things are happening in terms of making it more usable.

The hashrate is incredibly secure and although we have seen the hashrate decline as the price of bitcoin has gone down but if you compare today’s hashrate with the hashrate a year ago, we see a significant difference. The network is more secure than it has ever been.

 

Actual Access:

In terms of actual access, that’s also growing all the time. We have more and more fiat onramps for people to be able to buy bitcoin. Even though we still have domination of US dollar and Japenese Yen, Exotic currencies are being added. For example, Binance recently debuting in Uganda and letting people invest with the local currency there. We need to see this happening in more countries so we can have more fiat onramps and make it easy for people all around the world to get into crypto. The numbers are stacking up really well for bitcoin.

In terms of brand, the brand has never been stronger for bitcoin. More people know about bitcoin today than ever and that’s something very important to keep in mind. We have had a veritable explosion of bitcoin ATM’s in 2018 making access even easier for people. Paxful is reporting that in 2018 bitcoin sales were up by 20% in Africa which is great considering the bear trend in 2018. Record transactions are happening on Localbitcoins in countries like South America, Colombia, Venezuela, and Peru. People are getting into it and its expanding. That’s a really important thing to see bitcoin expanding to the corners of the world.

 

Proof of Keys Event:

Trace Mayer has organized the Proof of Keys Event. Proof of keys is an event happening today in which you take your crypto off the exchanges especially bitcoin and hold it in a wallet which you control the keys. The idea here is that there may be a lot of exchanges which may not have as much bitcoin as they profess to have. These third-party centralized exchanges have been a real bane to the crypto scene overall. Some of them are good actors but not all of them are. We have so much volume spoofing and all these different things going on that it is incredibly problematic and some of them may not actually have as much bitcoin as they say they have. So Trace Mayer is encouraging everyone to withdraw their bitcoins from the exchanges and put it in a wallet in which they control the private keys. We as a crypto community should always stand up to take a part in these events that are actually very important for the future of bitcoin and to end decentralization.

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#Bitcoin Cash Price Analysis

Bitcoin Cash Hash Wars Over. The result and price analysis

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After many days and millions of dollars spent and wasted, the bitcoin cash hash war or ego war is finally coming to an end. Bitcoin SV is surging.

After many days and millions of dollars spent and wasted, the bitcoin cash hash war or ego war is finally coming to an end. The bloody battle between the two competing visions for bitcoin cash over the block size increase from 32 MB to 128 MB was not only a large cost to the miners but also brought the whole cryptocurrency economy down to its knees. In the end eventually, Calvin Ayre of CoinGeek took to the internet claiming that they no longer wanted the ‘bitcoin cash’ name and thus will be moving forward with an independent blockchain called Bitcoin Satoshi Vision.

 

Adoption

Key market players such as Coinbase and ledger wallet have put their weight behind bitcoin cash and not bitcoin satoshi vision. But many exchanges are listing bitcoin cash sv and as time goes on services will increase for bitcoin satoshi vision assuming the stormy characters that are backing Bitcoin Cash SV can actually keep the ship in one peice and moving in one direction.

Faketoshi’s Vision

Craig Wright the person behind Bitcoin Cash SV is commonly known as ‘Faketoshi’ by cryptocurrency community for lying about being the real Satoshi Nakamoto is being criticized by a large crypto community for going against nearly all of the principles of bitcoin and is believed to be an immensely destructive and divisive character.

Bitcoin SV Price

BCHSV USDC Weekly Chart

BCHSV USDC Weekly Chart

 

After the subsequent end of the hash wars, Bitcoin Satoshi Vision showed a bullish momentum with the price rising from $36 to a high of $116. The coin is currently trading around $103 with the major support at $90 and the resistance at $110.

 

End Result of the battle

The end result has been nothing but billions of dollars of value wiped off the face of the markets, a swell in extreme pessimism in cryptocurrency and a crisis of confidence in the cryptocurrency industry overall and in proof of work networks. Neither side of the hash wars but actually the whole cryptocurrency community lost the battle as a serious amount of damage has been done to the crypto community by this incredibly divisive fork.

 

What are your thoughts on the hash wars ending and the new bitcoin satoshi vision? Tell us in the comments section below.

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#Bitcoin SV

BCHSV is now 8th Largest Cryptocurrency

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After a few days of the Bitcoin Cash Fork, BCHSV Bitcoin SV has shown 72.2% growth in the last 24 hours, and is trading at $111 as reported by CoinGecko.

After a few days of the Bitcoin Cash Fork, BCHSV has shown 72.2% growth in the last 24 hours, and is trading at $111 as reported by CoinGecko.


Bitcoin SV is now the 8th Largest Cryptocurrency.

 

 

For the last couple of days, Craig Wright has been “hitting” on the crypto market by his threats that he will destroy Bitcoin and eventually all other cryptocurrencies.

Calvin Ayer from Coingeek recently tweeted about how BCH-ABC is making changes in the base protocol instead of focusing on Scaling issues.

 

Calvin has also been attacking Bitmain, mainly because they support the main chain and the ABC chain.

Some people argue that the Hash Wars might not be over yet as BCH ABC and Bitcoin SV both trying to get more hash power and beating each other.
According to Coin Dance, Bitcoin SV is 43.30% less profitable to mine than the BTC chain, which means all companies that are currently mining Bitcoin SV are doing it on a loss.

 

 

What do you think about Bitcoin SV and the ongoing Hash Wars? Comment below.

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