Economy

Bitcoin split on the horizon

Bitcoin split on the horizon

What makes them interesting is that they can be both secure and anonymous. "Provided that unforeseen circumstances do not make it prohibitively unsafe or hard for us to do so, Kraken will support Bitcoin Cash".

No, these aren't blocks on the blockchain, but computer units like this can mine them!

Because control of the system is decentralized, it prevents manipulation of the currency's value by the powerful. Supporters say their project is necessary because planned changes that could expand bitcoin's capacity are not sufficient. While that was happening, the value of the currency dropped 36%.

Bitcoin data website btcforkmonitor.info also confirmed the split. In 2010, about four hours of time for a single Intel G4 processor was required to generate a single coin. More than five hours later, that hash rate increased to more than 200. This will slow down the bitcoin blockchain significantly. The agreement dealt with expanding the bitcoin trading network in order to help process transactions quickly and efficiently, an issue known as "scalability". For larger, less frequent transactions it's not a big deal, but the infrastructure hasn't scaled with the volume, and something has to give. Ethereum, Bitcoin's main rival by market capitalization, has already had its own hard fork moment, while Litecoin now has faster transaction times than bitcoin and is looking to launch a "lightning network" making it more scalable. The argument was contentious, and it came down to a deadline last night, where the second group emerged victorious.

The creation of Bitcoin Cash, announced only about a week ago, results from controversial plans aimed at speeding up Bitcoin transaction times.

More news: Bristol police to host National Night Out events

Though Business Insider reports that only a minority of exchanges support the new currency, those who do will have an equivalent amount of Bitcoin Cash added to their virtual wallet, with value subject to rise and fall with the stock market. A group of miners, developers, investors, and bitcoin users will upgrade the Bitcoin protocol as specified by the User Activated Hard Fork (UAHF). Right now it's up to the miners - if they find they can generate new blocks profitably, the cryptocurrency will thrive.

Ultimately, he encourages investors to give cryptocurrencies a try: "I think investors should take a shot on this and hold for a few years". In life, you miss every shot that you do not take. But if you've considered investing in Bitcoin - or a competing currency like Etherium - you're coming into a market that's as unpredictable as it's ever been.

Putting to rest speculations that Coinbase will keep BCC for itself, David Farmer, Director of Biz Ops at Coinbase, said that they are not intending to interact with the Bitcoin Cash blockchain, or to access bitcoin cash (BCC).

Kraken said that it's working on crediting accounts with bitcoin cash, and that its site's login function is down due to heavy traffic. But today's split is a great illustration that the technology still has a long way to go before it replaces the old-fashioned dollar.

Now you know how it is different from Bitcoin.


  • 90% chance temperatures will increase by two to 4.9 Celsius by 2100

    90% chance temperatures will increase by two to 4.9 Celsius by 2100

    This would put the world in the mid-range warming scenarios mapped out by the UN's Intergovernmental Panel on Climate Change . If carbon emissions continue unabated then we will face warming of up to 2 degrees by the end of this century.
    Pokémon Go Fest attendees are suing Niantic

    Pokémon Go Fest attendees are suing Niantic

    Eventually, players attending the event were promised a refund of their tickets, $ 100 in bonus in game and an Artikodin. Also, a new " Pokemon GO " patch just went live yesterday announcing the return of Team Instinct's Spark .
    Each Team's Best Potential Offer For A Kyrie Irving Trade, Ranked

    Each Team's Best Potential Offer For A Kyrie Irving Trade, Ranked

    So the Knicks most likely would have to offer a package that includes multiple first round picks and new arrival Frank Ntilikina. The Timberwolves appear to be on the rise and recently added Irving's good friend and workout partner Jimmy Butler .
  • EC seeks report from Gujarat govt over Congress' allegation of poaching

    EC seeks report from Gujarat govt over Congress' allegation of poaching

    Congress has re-nominated Patel, political secretary to party chief Sonia Gandhi , to the Upper House of Parliament from Gujarat. The BJP has fielded party president Amit Shah, Union minister Smriti Irani and former Congress MLA Balwantsinh Rajput.
    Rays get lefty slugger Lucas Duda in trade with Mets

    Rays get lefty slugger Lucas Duda in trade with Mets

    All in all, Duda proved to be a valuable asset for the Mets when healthy. "And I'm going to be very proud to be a Tampa Bay Ray ". Smith started the year in Single-A ball and was pitching for Triple-A Durham at the time of the trade .
    Love Island's Olivia Attwood finally visits Chris's farm

    Love Island's Olivia Attwood finally visits Chris's farm

    He took to his account to screenshot the achievement, writing: "1 mil club" alongside the kissing emoji. Before Mike was dumped from Love Island , he warned Chris to be careful of Olivia and not to trust her.
  • Some 500 suspects on trial in Turkey's biggest coup case

    Some 500 suspects on trial in Turkey's biggest coup case

    Turkish President Recep Tayyip Erdogan and other senior political figures are among the plaintiffs. The failed coup killed some 249 civilians and the government declared a state of emergency.
    Apple removes foreign VPN apps from Chinese app store

    Apple removes foreign VPN apps from Chinese app store

    Most of the most popular foreign VPNs in China were no longer accessible in the App Store on July 29. Golden Frog president Sunday Yokubaitis can not hide his dismay over Apple's decision.
    Mehbooba's Article 35-A Rant: Cracks appear in PDP-BJP alliance

    Mehbooba's Article 35-A Rant: Cracks appear in PDP-BJP alliance

    Referring to the failure of New Delhi in implementing Prime Minister's Working Group recommendations, she said, "We don't need to reinvent the wheel". "Our hopes are pinned on him to work together and bring Kashmir out of the mess".
  • Trump names John Kelly new White House chief

    Kelly is a retired four-star Marine general . "I think he was right to hit the reset button", he said. Elaine Duke, the deputy secretary of Homeland security will become the acting head of the department.
    LaVar Ball Says He & LaMelo Could Beat LeBron & Jordan

    LaVar Ball Says He & LaMelo Could Beat LeBron & Jordan

    After the technical foul in the first half, Ball pointed to the official and yelled, "We need to get someone else in here". The game eventually ended early when Ball received his second technical foul and was ejected.
    Major power outage on Outer Banks; 9000 homes impacted

    Major power outage on Outer Banks; 9000 homes impacted

    On Ocracoke , Tideland Electric tried to operate the island generator but said it was damaged in the process. As crews worked to restore the outage, all non-residents have been mandated to evacuate Ocracoke Island.