Over 2600 years ago, far away inward the mist of time, inward ancient Turkey, the Lydians too the Medes had been at state of war for 5 years. According to the Greek philosopher Herodotus, inward the yr 585 BCE, inward the midst of battle, at that spot was a solar eclipse too 24-hour interval was turned into night. The Lydians too the Medes took it equally an omen that the gods wanted them to halt fighting too thence peace ensued.
Tomorrow 21 August 2017 at that spot volition live on solar eclipse over large swathe of the USA. On this 24-hour interval the Big Blockers too Small Blockers who induce got been at state of war for nearly 5 years decided to lay downwards their keyboards too peace came upon us too the community was 1 time over again united.....LOL NOT.
Back to reality
Over the terminal three days the whole of crypto too mainstream media was ablaze amongst the tidings of the nearly v crimp increase inward BCH cost to over M USD, sweeping aside all predictions of its' early on demise. Of class to those of us who are of the consider that the BCH fork was a fork dorsum to the master copy bitcoin, nosotros are non at all surprised. It was rather expected too amongst the anticipation of to a greater extent than to come, until the Cashening.
Fitting inward the pieces
Looking back, nosotros larn that 55% of the trading book over the terminal 24 hours amounting to 1.7 Billion USD, yes billion amongst a "B" was transacted on three South Korean exchanges. To position this inward context, the full worldwide 24 hr trading book for BTC was entirely 2.6 billion. More of import was that the 1.7 billion was inward fiat. Not BTC. It is clear directly that BCH explosive cost rising was a lawsuit of heavy buying from Republic of Korea amongst "new money".
So why entirely Republic of Korea too for BCH? There was no buying delineate per unit of measurement area from China or Japan. China played a huge purpose inward BTC merchandise book until the Chinese authorities clamp downwards on the exchanges. The slack was later on picked upwards past times Nippon when the Japanese Government legalise Bitcoin on 1 Apr this year. Then on 24 July Republic of Korea made bitcoin payments legal.
Republic of Korea the world's 12 largest gross domestic product too a East Asian Tiger economic scheme made its' grade inward the crypto globe amongst a huge play inward BCH. Republic of Korea the abode of Samsung amongst 17% part of the globe στοιχείο marketplace is directly officially inward the crypto business, too they selected BCH equally their vehicle.
This is meaning too grade the divergence inward philosophy too approach past times these three East Asian economical competitors. China chose to prepare their ain national digital currency. Nippon decided to popular off amongst BTC too Republic of Korea induce got chosen BCH. Who volition live on right?
Coming dorsum to the 1.7 billion USD 24 hr merchandise inward BCH. This amount of money cannot come upwards from only ordinary citizens. Large institutions too possibly fifty-fifty banks are involved. This play is non over. Not past times a long shot. Expect to come across higher too quicker cost rises inward BCH, especially when the residuum of the globe catches on to what is actually happening.
Will the existent Bitcoin delight stand upwards up.
Yesterday for the starting fourth dimension time it became to a greater extent than profitable to mine BCH than BTC. Today at block 479808 BCH had its' starting fourth dimension touchstone difficulty adjustment too is directly entirely 7% the mining difficulty of BTC. These are watershed moments too marks the signal at which miners volition select to mine the to a greater extent than profitable BCH chain, too initiating the dreaded Chain Death Spiral for BTC. So when volition BCH supersede BTC equally the existent Bitcoin?
In a Twitter post, Gavin Andresen said that he volition cite to BCH equally Bitcoin if it has the longest chain too his consider is echoed throughout the community. Over the terminal 24 hours 139 BTC blocks too 263 BCH blocks were institute respectively. This is a divergence of 124 blocks. As of directly the BCH chain is 1452 blocks behind BTC. This way that inward equally lilliputian equally eleven days too nearly in all likelihood before the BCH chain volition overtake the BTC chain to popular off the longer chain. Will nosotros too thence telephone phone BCH Bitcoin?
Another twist. Ryan Charles inward his latest Youtube post suggested that BCH should only live on called CASH. Wow. What a keen idea. H5N1 totally left champaign proffer too soundless on reflection its' simplicity is indeed powerful. BCH is just that - CASH - Spending Money.
So directly nosotros come upwards dorsum to the interrogation of between China, Nippon too South Korea, which dry soil chose correctly. My money is on South Korea. What's yours?
Related Articles
H5N1 Tale Of Two Coins - Here
Bitcoin Cash Will Regain The Mantle To Be Bitcoin - Here
Chain Death Spiral - Here
Tomorrow 21 August 2017 at that spot volition live on solar eclipse over large swathe of the USA. On this 24-hour interval the Big Blockers too Small Blockers who induce got been at state of war for nearly 5 years decided to lay downwards their keyboards too peace came upon us too the community was 1 time over again united.....LOL NOT.
Back to reality
Over the terminal three days the whole of crypto too mainstream media was ablaze amongst the tidings of the nearly v crimp increase inward BCH cost to over M USD, sweeping aside all predictions of its' early on demise. Of class to those of us who are of the consider that the BCH fork was a fork dorsum to the master copy bitcoin, nosotros are non at all surprised. It was rather expected too amongst the anticipation of to a greater extent than to come, until the Cashening.
Fitting inward the pieces
Looking back, nosotros larn that 55% of the trading book over the terminal 24 hours amounting to 1.7 Billion USD, yes billion amongst a "B" was transacted on three South Korean exchanges. To position this inward context, the full worldwide 24 hr trading book for BTC was entirely 2.6 billion. More of import was that the 1.7 billion was inward fiat. Not BTC. It is clear directly that BCH explosive cost rising was a lawsuit of heavy buying from Republic of Korea amongst "new money".
So why entirely Republic of Korea too for BCH? There was no buying delineate per unit of measurement area from China or Japan. China played a huge purpose inward BTC merchandise book until the Chinese authorities clamp downwards on the exchanges. The slack was later on picked upwards past times Nippon when the Japanese Government legalise Bitcoin on 1 Apr this year. Then on 24 July Republic of Korea made bitcoin payments legal.
Republic of Korea the world's 12 largest gross domestic product too a East Asian Tiger economic scheme made its' grade inward the crypto globe amongst a huge play inward BCH. Republic of Korea the abode of Samsung amongst 17% part of the globe στοιχείο marketplace is directly officially inward the crypto business, too they selected BCH equally their vehicle.
This is meaning too grade the divergence inward philosophy too approach past times these three East Asian economical competitors. China chose to prepare their ain national digital currency. Nippon decided to popular off amongst BTC too Republic of Korea induce got chosen BCH. Who volition live on right?
Coming dorsum to the 1.7 billion USD 24 hr merchandise inward BCH. This amount of money cannot come upwards from only ordinary citizens. Large institutions too possibly fifty-fifty banks are involved. This play is non over. Not past times a long shot. Expect to come across higher too quicker cost rises inward BCH, especially when the residuum of the globe catches on to what is actually happening.
Will the existent Bitcoin delight stand upwards up.
Yesterday for the starting fourth dimension time it became to a greater extent than profitable to mine BCH than BTC. Today at block 479808 BCH had its' starting fourth dimension touchstone difficulty adjustment too is directly entirely 7% the mining difficulty of BTC. These are watershed moments too marks the signal at which miners volition select to mine the to a greater extent than profitable BCH chain, too initiating the dreaded Chain Death Spiral for BTC. So when volition BCH supersede BTC equally the existent Bitcoin?
In a Twitter post, Gavin Andresen said that he volition cite to BCH equally Bitcoin if it has the longest chain too his consider is echoed throughout the community. Over the terminal 24 hours 139 BTC blocks too 263 BCH blocks were institute respectively. This is a divergence of 124 blocks. As of directly the BCH chain is 1452 blocks behind BTC. This way that inward equally lilliputian equally eleven days too nearly in all likelihood before the BCH chain volition overtake the BTC chain to popular off the longer chain. Will nosotros too thence telephone phone BCH Bitcoin?
Another twist. Ryan Charles inward his latest Youtube post suggested that BCH should only live on called CASH. Wow. What a keen idea. H5N1 totally left champaign proffer too soundless on reflection its' simplicity is indeed powerful. BCH is just that - CASH - Spending Money.
So directly nosotros come upwards dorsum to the interrogation of between China, Nippon too South Korea, which dry soil chose correctly. My money is on South Korea. What's yours?
Related Articles
H5N1 Tale Of Two Coins - Here
Bitcoin Cash Will Regain The Mantle To Be Bitcoin - Here
Chain Death Spiral - Here
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