Bitfinex launches BCH trading

Bitfinex cryptocurrency exchange launches Bitcoin Cash trading
02 August 2017   2816
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Bitcoin Cash, a new cryptocurrency competing with Bitcoin, has emerged as a result of the Bitcoin blockchain hard fork. 

The community's attitude to BCH remains a bit diverse. Thus, while some exchanges (like Coinbase) are not going to rush to add BCH trading to their lists, the others give a warm welcome to BCH tokens. 

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Thus, the fifth wolrd's digital currency exchange Bitfinex added BCH/USD, BCH/BTC and BCH/ETH traiding pairs. 

Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

When the BCH tokens were distributed, instead of the ratio of 1: 1 there was a 0.8539 coefficient. It means that if a Bitfinex user has 1 BTC, then 0.8539 BCH is charged to him. As explained by the representatives of Bitfinex, this calculation methodology takes into account the aggregate of open long and short marginal positions on the exchange. 

Users Suspected RusGas of Scam

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol
07 December 2018   97

The RusGas cryptocurrency project (RGS) demonstrates disturbing signs and releases new tokens in excess of the pre-set emission limit, Cryptovest reports. With an aggregate capitalization of $ 117, RGS trading volume for the last few days is $ 35,000. Events unfold against the backdrop of promises made by the project organizers about the upcoming restart.

Most of the RGS trade is focused on the Crex24 exchange, which has a daily  of $ 700,000. RusGas had a daily volume of several million dollars in its best days, which already then caused questions about the authenticity of this value.

According to CoinMarketCap, RGS emissions are limited to 10 billion tokens, but Etherscan indicates that currently 298 addresses contain 860 billion RGS. The rapid growth of emissions was recorded in recent days and hours. The largest wallet contains 99% of all tokens, which is probably the crex24 wallet. The developers themselves explain these movements to the next restart.

Reddit users have already accused RusGas of exit scam, since its behavior is much like  recent scam project Oyster Protocol(PRL), when the additional issue feature was used in a smart contract.

The likelihood of such an outcome is a characteristic feature of projects based on the Ethereum protocol, which allows additional emission of tokens through a smart contract at the discretion of its owner, not to mention other vulnerabilities that cost investors a lot of money.

RusGas is based on the idea of ​​using tokens and blockchains to optimize the Russian gas industry. Despite the dubiousness of the project’s mission, the data on the network indicates that in April of this year he managed to raise $ 2.2 million for ICO.