Posts about Bitcoin Cash
*disclaimer I don't own any BCH (unfortunately).
A new cryptocurrency exchange backed by giants of the traditional financial market announced, on Tuesday (20), the start of its operations with the trading of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
EDX Markets, as it is called, was already operating discreetly for a few days, as reported by the Wall Street Journal (WSJ), but announced the launch only on Tuesday. The institutional exchange is controlled by Wall Street giants Citadel Securities, Fidelity and Schwab Starts Operations.
The company's plan is to offer centralized exchange services to institutions and therefore will not serve retail or individual investors.
With the selected list of cryptocurrencies by EDX Markets, the major financial market institutions send a message about which crypto assets they are willing to trade, positively impacting investors' perception of each one of them, which may have caused the price increase.
Bitcoin Cash (BCH) is up 112% from $90.77 → $192.80 in a 13 days period.
https://i.redd.it/w78xw085ns7b1.pngBitcoin Cash is a cryptocurrency, the result of the division of the Bitcoin network in 2017, which resulted in two different currencies, with their own networks. BTC and BCH.
The division occurred, among several reasons, over the decision to increase the maximum capacity of transaction blocks, limited to 4 megabytes in Bitcoin (BTC).
Bitcoin Cash supporters increased the block limit, under the premise of allowing greater scalability, transaction capacity per second and lower network fees for using the blockchain created by Satoshi Nakamoto.
While opponents kept the block sizes as per the initial schedule, under the premise that the increase could harm the ability of 'node' operators to be able to store all transaction history in a network that would become too cumbersome.
In October 2010, Satoshi Nakamoto had already commented on the possibility of increasing the size of the blocks, in case the demand for the network increased in the future.
https://i.redd.it/horvllfuns7b1.png
The Celsius Bankruptcy Team just tweeted that last week they accidently started converting their Alts to Bitcoin Cash instead of Bitcoin.
https://i.redd.it/6ylgxl5i2f9b1.pngWith Bitcoin Cash up over 52% in the last seven days the Celsius Estate isn't planning on taking the profit from the mistake. Instead they are going to hold onto BCH thinking they will actually be able to pay everyone back once people start learning about "Decentralized and Low Fee Bitcoin Cash"
https://i.redd.it/29kxfqfo0f9b1.pngJack Dorsey the biggest Bitcoin Maxi was quick to respond saying,
If this is Real and not a hack, I understand why you went bankrupt.
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So... I guess this explains why BCH is up so much over the last week. I fear the Celsius Estate is going to have to relearn what Liquidity means when they actually go to sell their recently acquired BCH.
