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Saturday, 24 February 17:34 (GMT -05:00)



Foreign exchange market

New Bitcoin Cash Instantly Enters TOP3 Cryptocurrencies in Terms of Market Cap


For those of you who don’t know, the world’s first and most popular cryptocurrency Bitcoin split in half on August 1st, 2017. Now, there are 2 versions of it – Bitcoin and Bitcoin Cash. As for, Bitcoin Cash, it instantly became among the leading cryptocurrencies in among market capitalization.
 

 

 

 

Over the last couple of months, the international community has been discussing the ways to accelerate Bitcoin transactions. The thing is that along with getting more expensive, the system slowed down. There has been no consensus between the developers so far. That’s why some of them decided to quit and start Bitcoin Cash. This is how the world’ most popular and expensive cryptocurrency was split in half.
 
What was the reason for the conflict? Back in may 2017, Bitcoin users complained that their transactions took days to be confirmed. The thing is that the speed of adding bitcoins to the block chain is one BTC per 10 minutes.  This limit was introduced in order to prevent DDoS attacks. However, as Bitcoin got more popular and liquid, this limitation turned into a major drawback for Bitcoin users.
 
The community offered 2 solutions – either canceling the 1Mb limit or letting some of data be stored outside of the block chain. The first scenario (Bitcoin Unlimited) was supported mostly by Bitcoin miners. However, the developers warned that this would require scaling up the capacities to process the increasing amount of transactions fast. This is not beneficial for small-scale miners and may result in monopolization, which contradicts the very essence of cryptocurrencies as a decentralized means of payment.  
 
As for the advocates of storing some data outside of the block chain in standalone files (this is known as Segregated Witness, or SegWit for short), they promised to reduce the load and increase the speed of processing transactions.
 

 

As the results of those talks, the advocates of Bitcoin Unlimited and SegWit compromised and created something called SegWit2x (2Mb limit with storing some data outside of the block chain). This solution is now supported by 95% of Bitcoin miners, but a group of insiders started Bitcoin Cash. The limit is 8Mb, which is basically its only difference as compared to Bitcoin.

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Most experts are now skeptical about the future of Bitcoin Cash. However, it is going to make rival to the classic version of Bitcoin. And this is happening now. After the split, Bitcoin saw a minor drawdown. At the same time, Bitcoin cash managed to gain enter the TOP3 digital currencies in terms of market capitalization with almost 8 billion dollars, which means the international community has been getting increasingly interested in Bitcoin Cash ever since it was launched on August 1st, 2017.

 

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Bitcoin Exchange Rate Drops Below $9000

Earlier today, the BTC exchange rate continued its way down to new local lows. In particular, it temporarily dove below the psychological threshold of 9000 dollars per 1 BTC. According to Coinmarketcap, the current local low is 8720 USD/BTC.

Publication date: 02 February 03:41 AM

Skeptics Predict Bitcoin Crash

As the amount of Bitcoin users is growing like never before, the amount of Bitcoin skeptics is growing as well. They are warning us that Bitcoin is doomed to crash at some point in the future. There are respected investors among them, who think that the rapid growth of Bitcoin and other altcoins is dangerous to those investing in them.

Publication date: 26 January 03:51 AM

Muslims Are Forbidden to Trade and Mine Bitcoin

The Grand Mufti of Egypt Shawki Allam is reported to have issued the so-called fatwa (which means a ban on something) against cryptocurrencies. This means that Muslims can no longer trade or invest in Bitcoin or other cryptocurrencies. To be more specific, the Mufti thinks that trading cryptocurrencies is almost the same as gambling. Yet, gabling is strictly forbidden in Islam.

Publication date: 12 January 03:19 AM

Alpari’s Mobile App Gets Over 400K Users

Over the last few years, the amount of online traders using mobile apps has increased dramatically. The stats show that most of the time mobile forex traders choose mobile trading apps by Alpari, one of the biggest brokers in the international forex industry.


Publication date: 03 January 07:06 AM

Bitcoin Harms Natural Environment

 Today, only 1% of the global population is investing in cryptocurrencies.  However, mining those cryptocurrencies is something that all of us have to pay for. This is what Deutsche Welle thinks on the matter.

Publication date: 02 January 11:43 AM

Bitcoin May Trigger Another Major Financial Crisis

 Some experts say that Bitcoin and other cryptocurrencies may trigger another major financial crisis.

Publication date: 02 January 11:42 AM

Fort Financial Services ¬– World’s Best Forex Bonus Offer 2017

Masteforex-V Academy has recently announced the results of the annual contest named «World’s Best Forex Bonus Offer 2017». Fort Financial Services won the title as the forex broker occupying the first position in the corresponding rating by Masterforex-V Academy.

Publication date: 28 December 09:28 PM

Bitcoin Exchange Rate May Drop to Zero, Morgan Stanley Experts Say

Bitcoin may drop all the way down to zero dollars. This is what Morgan Stanley analysts led by James Faucette told Business Insider. Such a gloomy forecast for the world’s first and most expensive cryptocurrency to date showed up amid another major drop in its exchange rate. The thing is that Bitcoin dropped by 40% from 19K dollars all the way down to 11,8K dollars on December 22nd. 

Publication date: 26 December 12:21 PM

Bitcoin is Yet to Win Major Investors’ Trust

The first Bitcoin futures were finally launched in the USA. However, despite the fact that cryptocurrencies have already been recognized a part of the financial world, skeptics still don’t believe in them and anticipate a cryptocurrency market crash. 

Publication date: 25 December 05:49 AM

Alpari PAMM Service Gets Its Monthly Turnover Exceed $15 Billion

Most people prefer to keep their savings in a bank. They believe that despite those tiny interest rates they get paid, storing money in a bank account is way safer than anything else. The point is, we are talking about storing money while it’s wiser to invest money so that it could make even more money. For example, Europeans like to consider investing their money in various kinds of assets. They further spend their profits on some big purchases or education for their kids.

Publication date: 21 December 03:17 AM