Genesis Mining implements payments by BCH

Genesis Mining added the option to pay for cloud mining contract with Bitcoin Cash
17 January 2018   1220

Genesis Mining right now is a controversial company. On one hand, you should consider the hurdles they faced with their users, but those were just a representation of cryptocurrencies volatile nature. On the other hand, the stable and reliable cloud mining providers are scarce, to be frank. So, the addition of new payment options weren't that far off either way, and now we have it – the ability to pay for the contract with BCH is now open. Is it a test, or a permanent option – it remains to be seen, but just the fact itself is very promising.

Bitcoin Cash network, it seems, is a more reliable and faster way for the big mining outsource company to receive payments from the clients, than the original Bitcoin with its high transaction fees and slow confirmation.

The only problem is that Genesis Mining right now is out of hashpower to sell to the customers. But fear not, they should be launching new hardware soon, if the rumors are to be believed, so the cryptocurrency hype wouldn't leave them behind.

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   489

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.