BlockTrades Added Support for Bitcoin Cash

BlockTrades website for the exchange of cryptocurrency announced support for as for the most requested coin by users of the platfrom
15 January 2018   2120

BlockTrades website enables users to rapidly purchase cryptocurrencies without the hassles typically associated with purchasing through a centralized cryptocurrency exchange and differs from a traditional exchange as users don't need to maintain a balance on the site. 

On January 15 of 2018 BlockTrades announced launch of Bitcoin Cash, and in addition to supporting regular buying and selling of BCH, customers will also be able to purchase Steem accounts with BCH.

Moreover, BlockTrades will allow BCH to be sent using both the new BCH-specific addresses or the old-style addresses, but the deposit addresses generated for users paying with BCH will only be generated in the new format.

One useful aspect of Bitcoin Cash is that transaction fees are cheap relative to Bitcoin, and Bitcoin Cash is supported at many exchanges that support Bitcoin, making it a useful intermediate coin (like Litecoin, Ethereum, and Doge) for going to and from fiat currencies.

BlockTrades official statement

Currencies that are already listed on BlockTrades are: BitCNY, BitEUR, BitShares, BitUSD, OPEN.BTC, OPEN.DASH, OPEN.ETH, BTC, DASH, Dogecoin, ETH, LTC, Steem, Steem Dollar.

Earlier today we have reported that GDAX crypto exchange announced resuming BTC-BCH trading from January 17 after temporary suspension.

At the moment of press, these are main market parameters of Bitcoin Cash:

  • Average price: $2 477,58
  • Marketcap: $41 903 310 540
  • 24h volume: $1 367 100 000

Two Mining Pools to Gain 50% of the BCH Hashrate

Media reports that Coingeek and BMG Pool are affilated with odious Australian entrepreneur Craig Wright
18 September 2018   517

The centralization of Bitcoin Cash mining has reached a new level after only two pools - Coingeek and BMG Pool - have established control over more than 50% of the total network hash. This is reported by Trustnodes.

Bitcoin Cash Mining Pools
Bitcoin Cash Mining Pools

Earlier today, there were also reports that at some points the aggregate capacity of both pools reached 58%.

While BMG Pool directly belongs to the odious Australian entrepreneur Craig Wright, the no less scandalous Calvin Ayre, who maintains close ties with Wright, is considered the nominal owner of Coingeek.

The current situation, the media believes, does not exclude the possibility of collusion of the 51% attack on the network. In particular, in this case there is a probability of double spend of coins, which, accordingly, will force the exchange to increase the number of required transaction confirmations.

At the same time, the current situation is likely to be a demonstration of power by Craig Wright on the eve of the November upgrade of the network. As a result of disagreements between different groups of developers, it is still possible that Bitcoin Cash, which at one time split from bitcoin, will itself be split into two separate chains.

Note that the Bitcoin Cash hashrate on the whole continues to remain at a fairly low level, accounting for less than 8% of the bitcoin.