BTC PRICES ARE RISING!!
“You Have No Reason To Fear The Fork”
Last week a number of the exchanges and companies made it clear there were not in favor of Bitcoin Cash. These companies included BitMex and Coinbase. This means they can’t support the hard fork, which is lead by ViaBTC.
Coinbase said due to its contentious nature, it would not support (BCH) Bitcoin Cash. BitMex said it will probably lead to security problems. The company said it would not support the split of it, nor would it be liable if users decide to send it to them. They added that piror to the first of August is when users can withdraw from Bitmex, if they want to access types of hard-fork, including Bitcoin cash.
Digital Crypto’s Will Be Fine~
Bitmain, a well-known mining equipment manufacturer and one of the largest mining pool said they would consider of hard forking the Blockchain. This would be done with the purpose of creating BCH. However, the company did mention that the user-activated hard fork was a contingency plan for user-activated soft-fork.
Bitmain added that it doesn’t intend to execute a hard-fork if those in the industry do decide to come together and agreed on a way to activate the transactions malleability fix. This also included finding a scaling solution SegWit. In other words, if a mechanism was created and everyone agreed on it, Bitmain doesn’t have plans to purse a hard-fork.
It is worth pointing out that investors invested in these blockchain and digital assets shouldn’t fear a hard-fork of BCH. Many analysts, such as Squeeze, have mentioned how the price of Bitcoin has held up and has enjoyed momentum throughoutthe week. This is regardless of the chances of a BCH hard fork from happening.
This is because many industry leaders, traders, investors and users are going to consider using BCH as an alternative to BTC and cryptocurrency in general. Developers that get to work within an open source environment can fork off a project and go on to create their own. For example, Ethereum Classic went away from Etherum and now it’s the sixth largest currency (crypto) and Monero forked off Bytecoin and has also gone on to succeed. In fact, it’s the ninth largest on the market and Bytecoin has faded right away.
Those who invested in, should just sit tight, we will be fine!! as well as traders of the virtual cash, will end up getting credit for BCH.
Some companies will likely sell BCH and than aim to credit users with more Bitcoin. Some developers, such as Peter Todd, believes this would be a valuable option, but only time will tell whether it is or not.
Tijo-THE ARCANE BEAR