Wednesday morning’s dive in Bitcoin was brutal for even the digital asset’s most loyal HODLers. During the 11 o’clock hour (Eastern Time), Bitcoin plunged from $6,063.69 to $5,650.01 over the course of just 30 minutes. It then continued to fall in anticipation of the Bitcoin Cash hard fork scheduled for Thursday. The cryptocurrency hadn’t moved most of the year and crypto pioneers like Crystal Rose Pierce were starting to share excitement for Bitcoin’s stability. On Monday in San Francisco, following the EOS Global Hackathon, she told an audience of developers at their CryptoMondays meetup, “If we wrap up this year and Bitcoin hasn’t changed, or is marginally changing, that means…
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Expert trader gives the ABCs (and SVs) of the impending big Bitcoin Cash hash battle
Bitcoin Cash’s fate will be decided November 15. Here’s what that could mean
The contest to control Bitcoin Cash—essentially, two billionaires in a game of chicken—is about to come to a head. The “hash battle” will be decided on November 15, 2018. On that day, BCH will have a hard fork; the winning hash will retain the title of Bitcoin Cash while the loser—if it survives—might be forked into a brand new coin (though that’s debatable). The stakes aren’t small; Bitcoin Cash currently has a $9.4 billion market cap, making it the fourth-largest crypto. In the 10 years since Satoshi Nakamoto release the original Bitcoin white paper for “electronic cash,” many cryptocurrencies have seen “forks.” There have been coins “burned,” too. However, we…
