Bitcoin CashBitcoinBitcoin GoldBlockchain

Bitcoin Cash gained over 30% in less than 24h

Huge price jump of one of the Bitcoin's hardfork brothers; what's the reasons? 
10 November 2017   3589

Bitcoin Cash' price gained more than 30% in less than 24 hours. At the moment of press, 15 UTC, November 10, 2017, it's $829.10 with $13 822 501 360 marketcap and $3 104 290 000 24h volume.

Bitcoin Cash Price Chart
Bitcoin Cash Price Chart

The rapid increase in the price of Bcash can be attributed to a number of factors, including the latest announcement of the founder of the Pirate Party, Rick Falkvinge, that he is redirecting all available resources to the BTH.

Under the "latest developments" Rick Falquinge is referring to the statement of the supporters of SegWit2x about the refusal of the planned for the middle of November hardfork.

Another important reason for the increase in Bcash's price can also be considered the approaching hardfork of this network: as previously confirmed by the developers, it will happen on November 13. This fork is planned and is aimed at changing the existing consensus rules in the Bcash network.

We can not, however, exclude another version, which co-founder of Bitcoin.org Cobra recently expressed.

Also, among the latest developments in the Bitcoin Cash ecosystem, we can point out the Bitcoin. com almost stopped BTC mining and now is focused on Bitcoin Cash. At the moment, the Bitcoin.com share in the total hashte Bitcoin Cash is about 18%.

Bitcoin Cash last blocks
Bitcoin Cash last blocks

ViaBTC, which owns one of the largest mining pool in the Bitcoin Cash ecosystem and the Exchange of the same name, circulated a statement that it is taking a community decision and disclaims the BCC ticker in favor of BCH.

In late October, the Bitcoin Investment Trust, announced the sale of 1,688,700 shares denominated in Bitcoin Cash and the further distribution of the funds received to the company's shareholders.

This news looks interesting on the background of Bitcoin price rapid fall.

ExchangesKrakenBitmainBitcoin CashBlockchain

Court to Dismiss BCH 'Hijack' Lawsuit

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, which are Kraken, Bitmain and Roger Ver
06 February 2020   577

The court dismissed the lawsuit of the mining company United American Corp. against the Kraken exchange, its founder Jesse Powell, Bitmain, its co-founder Jihan Wu and Roger Ver, who accused them of manipulating the Bitcoin Cash market and claimed $ 4 billion in compensation. As a reason for refusal, the court pointed to the lack of jurisdiction of the case and insufficient grounds.

UnitedCorp claimed that it incurred significant losses due to the actions of the defendants, who, after the emergence of Bitcoin SV in 2018, organized the so-called “hash war” and competed for 11 days to form the longest chain. The role of the Kraken exchange in these events was due to the fact that it was the first to decide to award a ticker for the BCH chain, also called Bitcoin ABC.

The simultaneous decrease in the price of Bitcoin Cash from $ 400 to $ 200 led to a significant drop in mining revenue of UnitedCorp. The firm claimed that the defendants violated the Sherman Act (the first US antitrust law proclaiming a crime to impede free trade by creating a trust and conspiring for such a purpose), Clayton's law, which also regulates the activities of trusts, demonstrated negligence, unintentional misrepresentation, improper enrichment and treatment property in their favor.

During hash wars, the amount of computing power in the Bitcoin Cash network reached 7.88 EH / s, whereas now it is 3.99 EH / s. Due to the actions of other miners, UnitedCorp could receive a significant part of the awards it had hoped for before, and the depreciation only worsened its position.

The court dismissed the claim without further restrictions. Thus, UnitedCorp is allowed to submit its revised version again until February 28th.