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Single Address Responsible for more than 50% Bitcoin Cash Transactions

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Cryptocurrency enthusiasts are spreading the word that a single address has been accountable for more than 50 percent of the Bitcoin Cash transactions.

Cryptocurrency enthusiasts such as @IamNomad are spreading the word that a single address has been accountable for more than 50 percent of the Bitcoin Cash transactions in the last one month.

 

The address that people are talking about has made more than 600,000 transactions in just the previous one month which account for more than 50% o the total bitcoin cash transactions that amount to around 1.2 million. The amounts that are being transacted out of the address are fractional and occur in an interval of some seconds.

 


People are also suggesting that the account might belong to an upcoming gaming or gambling website which is putting in cryptocurrency in preparation of the platform.

 

People are also making jokes out of the situation, also bringing in Roger Ver, the founder of Bitcoin Cash and even Alibaba.

 

#Bitcoin Cash

A new logo for Bitcoin Cash? BCH supporters show anger.

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Poloniex cryptocurrency exchange which is funded by the Goldman Sachs recently posted a tweet with their own designed logo for BCH and BSV.

Poloniex cryptocurrency exchange which is funded by the Goldman Sachs recently posted a tweet with their own designed logo for BCH and BSV stating that Bitcoin Cash and Bitcoin SV are available for trading on the exchange.


A lot of bitcoin cash supporters are showing their anger on different social media platforms such as Twitter and Reddit over the changed logo.

Poloniex Exchange:

Poloniex exchange was quite famous in the early days of cryptocurrency when it was the only method of buying Ethereum. However, after the rise of other large cryptocurrency exchanges such as Binance and Kraken, the volumes on Poloniex started to fall down. Later, the exchange was acquired by Circle in 2018 when they mentioned that they are now backed by large venture capital firms including Goldman Sachs.

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In Depth: How is Bitcoin Cash different from Bitcoin?

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Bitcoin ( BTC ) supporters accused Bitcoin Cash ( BCH ) of attempting to hijack the original view of Satoshi's real decentralized currency.

Bitcoin Cash is the hardfork of Bitcoin, which was created by a minority group of influential miners, developers, investors and users who opposed the agreed SegWit implementation of the scale.
Bitcoin Cash is a continuation of the Bitcoin project as a digital Cash peer-to-peer. Bitcoin lives on the original Satoshi code of 1 MB and at the same time explores new possibilities for scalability solutions outside the network.

When Bitcoin was divided into Bitcoin and Bitcoin Cash, someone who had 10 BTC automatically received a certain number of BCH (10) equal to the value of their 10 BTC.

Because bitcoin cash shares the same story with bitcoin, its applications are virtually the same. You can accept bitcoin cash as a payment or as part of the mines, but the easiest way to get bitcoin cash is to buy it from cryptocurrency brokers and exchanges.

Why Fork Bitcoin?

Bitcoin was divided to create Bitcoin Cash because some Bitcoin developers wanted to make important changes and upgrades which they saw as a drawback. Bitcoin cash was created by miners and developers equally interested in the future of cryptocurrency and its ability to scale effectively.

If bitcoin really undermines the decentralized nature of the network and the democratic possibilities of blockchain technology, people can look elsewhere for cryptocurrency with more exciting potential. Bitcoin cash was created by miners and developers who claimed to be interested in the future of Bitcoin and its ability to scale effectively.

 

Bitcoin vs Bitcoin Cash

The 8 – MB block limit for Bitcoin Cash is eight times the size of the 1 MB block for Bitcoin.

While Bitcoin’s Cash followers will be happy to identify larger blocks with cheaper and faster transactions, Bitcoin camp sees solutions as a better method of scale. It is very similar in many ways to Bitcoin ( BTC ), but Bitcoin Cash has some technical differences, which have a significant influence. Bitcoin and Bitcoin Cash are two completely separate cryptocurrencies, although both are based on the same open-source Bitcoin code.

Bitcoin Cash has a lower transfer fee ( approximately 0. 20 per transaction ), so doing business in BCH saves more money than using BTC. If the BTC is primarily used as a storage value – or as a tool for speculation – then the smaller mempool and lower transaction costs would not be a compelling reason to switch from BTC to BCH.
Note that atypical peaks in the BCH hash rate at the end of 2017 are similar to the times when BCH mining was disproportionately more profitable than BTC mining.

 

Supporters:

Bitcoin ( BTC ) supporters accused Bitcoin Cash ( BCH ) of attempting to hijack the original view of Satoshi’s real decentralized currency.

In turn, Bitcoin’s supporters accused Bitcoin developers of allowing BTC to become useless as a digital currency.
Bitcoin Cash has managed to carve out a niche in the cryptocurrency market and is currently ranked the sixth cryptocurrency in terms of market capitalization. Earlier, it was ranked number three after bitcoin and ethereum.

Although BCH remains relatively new, companies such as Bitpay see market value in Bitcoin Cash because of the ease of transaction usage.

Many speculate that Bitcoin Cash could absorb a large part of the market share of Bitcoin, making it the new dominant crypt in the industry. It’s because Bitcoin Cash has solved the scaling problems that Bitcoin has, allowing more people to use it with ease and lower costs. Many beginner investors see Bitcoin Cash as a cheaper Bitcoin with a lower entry point in the market. However, Bitcoin supporters see Bitcoin Cash as a no-value asset and a centralized cryptocurrency.

 

Bitcoin Cash Hardfork: Bitcoin ABC & Bitcoin SV

Bitcoin Cash went through a hard fork last year which gradually split the cryptocurrency into two: Bitcoin ABC and Bitcoin SV. Under the leadership of Amaury Sechet, and with close ( although unofficial ) ties with the major mining equipment manufacturer Bitmain, Bitcoin ABC has a hard-hitting policy about once every six months to upgrade the protocol. With Bitcoin ABC and Bitcoin SV as two leading rival factions, most of the Bitcoin’s Cash ecosystem has so far chosen a side in the dispute.

Most of the “big name” Bitcoin supporters seem to support ABC’s hard fork – or at least reject Craig Wright (Faketoshi) and Bitcoin SV.

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Is Bitcoin.com misleading people to buy BCH instead of Bitcoin?

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Roger Ver is misleading people to buy BCH rather than BTC for his own profit. We also get to know how bitcoin.om is selling false bitcoin.

Let us start this article with the innovation of a cryptocurrency which shaken the world with its value. It was named as bitcoin. The value of this cryptocurrency reached an unexpected, nothing less than a miraculous height in the year 2017. In the same year, no of expected transactions for this digital currency started to be very high. However, bitcoin has very low scalability. While Visa is capable of doing around 24000 transactions in a second, bitcoin is capable of doing only 7!

Soon, the bitcoin community started two argue for its scalability. It divided the community into two groups. While one group was admired that scalability should be increased, the other was focussed that bitcoin was not born for high scalability. This conflict in ideas gave the rise of BCH i.e. Bitcoin Cash in August 2017.

So, basically, bitcoin.com diverged into two cryptocurrencies: BTC (Bitcoin) and BCH(BItcoin Cash). It should be noted that both bitcoin and bitcoin cash are completely two different cryptocurrencies. If you buy BCH and transact it in the misconception of BTC, you might lose all of your money. It is common doubt that both BTC and BCH are common but always keep in mind, this two although resembles same but is two completely different digital assets. In simple words, these two assets are as different as US Dollar and Euro!

 

How bitcoin.com is misleading people?

As stated above bitcoin and bitcoin cash are two different assets. They resemble and pronounce similarly, hence most of the people are in the misconception that both are same. Bitcoin.com is taking advantage of this confusion among the people. It is selling fake bitcoin. It is also misleading people to buy BCH instead of the original bitcoin. It is using various false and irrelevant information in media through various medium to appreciate bitcoin cash and attract people to buy it in assumption as they are the real bitcoin. But this is completely wrong. If a person is buying a BCH, he/she is definitely not buying the original bitcoin. Bitcoin is taking advantage of the similar names of the two crypto assets and misleading the consumers to buy BCH instead of the original bitcoin.

The reason for this misleading information is quite simple. The value of BTC on February 2, 2019, is around  $3434.40 whereas the value of BCH on the same date is around $ 117.99. Clearly, Bitcoin is having a higher value than the BCH. So, bitcoin.com is trying to sell as much as BCH it can. It will lead to more economic benefit for the company. This is the reason, it is misleading to buy BCH instead of BTC.

Let us look at the misleading facts spread by bitoin.com using Roger Ver.

 

Roger Ver making people fool to buy BCH:

Before, how this person is making fool to inspire to buy BCH rather than BTC, we must know who he is.

Roger Ver is a famous personality in the crypto space. He is one the early supporter of bitcoin. He aimed that it could be an economic lifeline currency. He is the owner of bitcoin.com and he was the leading face for gaining the support of people for buying bitcoin. He is also known as ‘Bitcoin Jesus’ due to his contribution to bitcoin during the initial innovation of bitcoin. But nowadays, he is promoting BCH (Bitcoin Cash) rather than BTC. He is misleading people to buy the BCH and making them fool by convincing them to trust on BCH more than BTC. No one has ever expected such a misleading contribution by the person, they treat as the Jesus of Bitcoin. Let us have a small fact supporting us.

We will be concentrating with two of statements of Roger Ver

  1. “I bought thousands of BCC with my BTC so far, how about you?”. Date of statement: 10 August 2018
  2. “I haven’t sold a single Bitcoin for Bitcoin Cash up until yesterday and I sold about a dozen Bitcoins for Bitcoin Cash”. Date of statement: 25 August 2018.

Wait, did you get confused? You would have surely in disbelief after reading the above statements. I first statement given by Roger Ver on 10 August 2018, he said that he had bought 1000 of bitcoin cash with his bitcoin and asked to have others did so? In the next statement made by him on 15 days later, he refused that he hadn’t sold any of his BTC for BCH till 24 August and he had bought BCH only worthy on 12 BTC. Well, this is completely misleading. This is completely a false move done by the owner of bitcoin.com in perspective for the business’s own profit by misleading people. This is surely not expected from a person like Roger Ver

 

In this article, we got to know how Roger Ver is misleading people to buy BCH rather than BTC for his own profit. We also get to know how bitcoin.om is selling false bitcoin. So, before buying bitcoin from the bitcoin.com, make sure that you are buying original bitcoin, not BCH i.e. Bitcoin Cash otherwise, you could lose all of your money. Be aware of Roger Ver and bitcin.com as for them, it is only the profit of business matters and for this, they could misguide their customers.

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