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BCH vs BSV: One Month After The Hash Wars Ended

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BCH vs BSV
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While most cryptocurrencies experienced massive losses throughout 2018, no one will soon forget the mid-November hard fork of BCH, which has given birth to BSV and has also pushed the entire crypto market into a completely new nosedive and created a BCH vs BSV rivalry. Now, over a month after the event, the market is still suffering consequences. However, many are interested in what did the hard fork manage to achieve, as well as what might await these coins in the future.

BCH vs BSV: A quick recap

As many already know, Bitcoin Cash (BCH), which itself came to be as a fork of Bitcoin, was scheduled to have a hard fork on November 15th. This was one of two hard forks that BCH is expected to have annually so that it can implement necessary upgrades and improve the blockchain. However, due to the difference in opinion within the BCH community, two sides eventually formed.

One was led by Bitcoin ABC, which wanted to bring its version of upgrades to BCH. The other was led by nChain’s Craig Wright, who believed that implementing said upgrades would change BCH and that it would no longer be what Bitcoin’s creator, Satoshi Nakamoto, envisioned when he created BTC a decade ago.

After months of debating, the two sides were unable to come to a consensus, and the hard fork resulted in the creation of two coins. Another problem was that both of them wanted to be considered the real BCH, which is why they entered a hash war. After more than a week of excessive block mining, Bitcoin ABC got its version of BCH to be considered the real BCH. As for Wright’s coin, it came to be known as Bitcoin SV (BSV).

BCH and BSV in a post-war market

As mentioned, the hash wars of these two coins started a downward spiral that has affected Bitcoin’s entire ecosystem, and the entire crypto market followed. Within only days, Bitcoin lost nearly half of its value, and the same is true for the crypto market as a whole. After the hash wars died down, the BSV representative, Calvin Ayre, stated that the community is ready to move on from the conflict. Their coin was doing well even without the BCH as their name, and they have decided that they do not want it anymore.

The entire situation has proven that the community believes that BSV should exist, and this fact alone is enough for the coin’s developers. Despite the fact that they have lost the name Bitcoin Cash, they consider BSV’s very existence to be their victory. At first, it appeared like BSV might disappear, and join Litecoin Cash, Bitcoin Diamond, and Bitcoin Gold. However, the coin soon started gaining value, especially in early December, when it started seeing massive gains in the middle of a crashing market.

BSV started advancing rapidly, in terms of price and market cap, and it quickly moved past several of the top 10 coins. The progression soon stopped, and dropped to 9th position, with a current price of $105.77. As for Bitcoin Cash, it also appeared like it might lose its position permanently, but it soon returned to the 4th spot, where it currently resides.

Right now, it appears like the market is trying to find a way to reach stability. After almost a week of growth, a lot of coins are currently seeing a slight correction. Investors have already given up on their dreams of a bull run, but many still hope that the market will successfully find balance in the last days of 2018.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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TokenRoll
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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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