Bitcoin Cash, the brand new cryptocurrency emerged as the hard-forked version of Bitcoin, after reaching its all-time high price mark of more than $900 and being finally supported by the leading cryptocurrency exchanges, pools and wallets, now seem to be experiencing some mining troubles.
Thus, Charlie Lee, the Litecoin creator and an active Twitter user also known as one of the most honest developers in the cryptocurrency world, reports on 2.5 hours without single Bitcoin Cash block being mined and expresses his scepticism about the future success of the cryptocurrency:
2.5 hours without a Bitcoin Cash block. Tell me again how one plans to use this as cash. Meanwhile, Litecoin network is stable and strong. https://t.co/st46vIOI5R
— Charlie Lee (@SatoshiLite) 23 августа 2017 г.
It's noteworthy, that a bit earlier, on August 21st, the man shared his predictions about Bitcoin Cash mining difficulties:
Prediction: BCH will have 1 min blocks for 1.5 days. Diff retargets 4x. Miners switch to BTC. 24+ hrs with few blocks. Repeat until HF fix. https://t.co/6Wy5jGOqRi
— Charlie Lee (@SatoshiLite) 20 августа 2017 г.
Jeff Garzik, a former Bitcoin Core developer, objected that, in his opinion, "this is a short term oscillation generated by profit-switching pools; occurs w/ litecoin, dogecoin, eth/etc & others". However, the creator of Litecoin hastened to remind Garzik about the Namecoin story:
Just like what happened with Namecoin in 2011. "Those who do not learn history are doomed to repeat it."
Thus, according to Jimmy Song, one of the Bitcoin developers, new difficulty adjustment is to take place:
BCH: 24 blocks until difficulty adjustment. Last 24 blocks took 24 minutes. Should be interesting to see how much moves to BTC.
— Jimmy Song (@jimmysong) 22 августа 2017 г.
What the future has in stock for the cryptocurrency, remains to be seen. At the time of writing, Bitcoin Cash price is about $658 and it's market capitalization is almost $11 billion (however, less than the 3-rd ranked Ripple's).