Bitcoin Cash price jump

What is the reason for a huge price spike of Bitcoin Cash? 
17 October 2017   2435

Bitcoin Cash, the fork of original Bitcoin showing big price jump in recent hours.

Bitcoin Cash price chart
Bitcoin Cash price chart

As you can see on the chart above, huge jump (over 10%) happened only few hours ago (about 8.00-9.00, 17th of October, 2017). At the moment of press, Bitcoin Cash gained 11.33% in less than 24%. Marketcap is $5,813,016,133, and average price is $348.03.

Reason for a jump

So, what is the reason for this huge price spike? Well, less than a day ago, Bitcoin dot com resource released big statement called "Bitcoin Cash is Bitcoin". As a conlcusion, Bitcoin dot com team says that 

The position that Bitcoin Cash is Bitcoin is based on its adherence to the design goals and intended purpose that Bitcoin was created to fulfill.
On October 13, 2017, Bitcoin Unlimited Chief Scientist Peter Rizun announced that their Gigablock Testnet Initiative successfully mined and propagated the first ever 1GB block. Such test results demonstrate that the Bitcoin network can scale to compete directly with mainstream payment processors (10,000 transactions per second and higher vs. Visa’s average 3,000 transactions per second). Bitcoin Cash, with its more realistic approach to scaling, is well-positioned to become a worldwide peer-to-peer electronic cash system.
Based on the arguments presented above, Bitcoin Cash (BCC) is the only fork of Bitcoin that resembles a natural continuation of the original Bitcoin invention. All Segwit chains have altered so many fundamental properties of Bitcoin that it seems a stretch to refer to any of them by the Bitcoin name.
 

Bitcoin.com team statement

We will keep our eye on this situation. So, stay tuned to get the hottest news. 

Bitcoin. com to Acquire O3 Labs

O3 Labs resources will be allocated to the development of mobile app for Bitcoin.com using the Bitcoin Cash protocol
21 October 2019   78

Supported by crypto investor Roger Ver, Bitcoin.com acquired the Japanese blockchain startup O3 Labs, writes The Block. The company refused to disclose the transaction amount.

O3 Labs previously worked on creating applications for the NEO and Ontology blockchain systems. Now its resources will be allocated to the development of mobile applications for Bitcoin.com using the Bitcoin Cash protocol in order to expand support for financial services.

We look forward to accelerating services in our mobile applications serving anyone in the world with an internet connection, regardless of nationality, socioeconomic status, or access to traditional finance.
 

Stefan Rust

CEO, Bitcoin.com

Under the terms of the agreement, O3 Labs employees will join the Bitcoin.com team. What kind of financial services they will develop is unknown. Rust only noted that the firm aims to give users "the ability to manage, grow, and spend [money] ... without the need for traditional banks or financial intermediaries.”

In September, representatives of Bitcoin.com announced that they intend to seek listing of Bitcoin Cash futures on the Chicago Mercantile Exchange (CME).