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August 4th, 2017- In This Issue:

The Birth of Bitcoin cash ((CRASH))

On August 1st, at exactly 6:12 pm GMT, the first Bitcoin Cash block (block no. 478559) was mined by Viabtc's miners, announcing the birth of Bitcoin Cash, the first ever cryptocurrency to be created by hard forking bitcoin's blockchain. 

The main issue with Bitcoin Cash is the relatively limited size of the network and the community providing the blockchain's hash rate. Right now, there are 747 Bitcoin ABC nodes. Bitcoin ABC is a software implementation of Bitcoin Cash's hard fork. This represents around 7.98% of the total number of bitcoin nodes which is currently estimated by around 9,357 nodes. Currently, the main hash rate supporting Bitcoin Cash's network is provided by 2 pools; ViatBTC's pool and bitcoin.com's pool. The total hash rate provided by both pools is estimated by around 245 PH/s, which is around 3.9% of the total hash rate supporting bitcoin's blockchain (6,414 PH/s).
What to expect in the coming weeks

The price of Bitcoin Cash has dropped to almost 50% of the high it recorded 24 hours following the birth of the coin. The blockchain is currently operating at a relatively slow speed. A total of 41 Bitcoin Cash blocks were mined since the hard fork took place. At a hash power of around 4% of bitcoin's blockchain, transaction confirmation times along Bitcoin Cash's blockchain often reach hours. This theoretically is expected to improve over time, due to the fact Bitcoin Cash's protocol presents a novel difficulty algorithm that is designed to adjust according to the network's hash rate. Nevertheless, it might need weeks before adjustment is completed and blocks are created at the expected 10 minute block intervals.

Bitcoin Cash is in its early days and needs many things if it is to survive and continue to hold its current value or even rise more;

1- The network's hash rate has to rise. If a large proportion of bitcoin miners decide to start mining blocks on Bitcoin Cash's blockchain, this will boost the network's hash rate, shortening the confirmation times of transactions. The value of Bitcoin Cash as a new altcoin largely depends on the hash rate of the network.

2- More exchanges have to start listing Bitcoin Cash BCC. Currently, BCC is only available for trading, deposits and withdrawals on a handful of exchanges namely Bitfinex, Kraken, ViaBTC, HitBTC and Bittrex.

3- Bitcoin Cash has to prove that it can successfully mitigate the scalability problems of bitcoin, or else it would be nothing more but a new altcoin that did nothing but split bitcoin's blockchain.

We don't have any intentions to mine BCH we feel strongly that this new altcoin will be renamed BITCOIN CRASH as 14.5 million newly created coins go rushing for the exit door the moment there is liquidity and an exchange to sell them. 

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Bitcoin Price Eyes $2,900, Bitcoin Cash Crashes Towards All-Time Lows
Bitcoin Cash (BCH) continues to fall for a second day as Bitcoin (BTC) posts gains and other cryptocurrencies remain stable.

Cross-exchange data from  Coinmarketcap shows BCH is still the fourth-largest cryptocoin by market cap, despite falling 35 percent in the past 24 hours.

Bitcoin Futures, Options to Appear On Chicago Exchange

In a groundbreaking agreement the stage is set to give traders access to Bitcoin through a traditional and well- regulated  market. The CBOE and Gemini plan to allow more sophisticated options to traders as soon as later this year.


Bitcoin Price Will Hit $250,000 by 2020 If Seven-Year Trend Continues

BitGo Software Engineer Jameson Lopp revealed that if the seven-year trend of Bitcoin price continues, Bitcoin will be valued at around $250,000 by 2020.

Lopp calculated the seven-year trend of Bitcoin price based on daily value change. With the exception of 2014, which was affected by the downfall of now-defunct Mt. Gox, Bitcoin has continuously recorded positive daily value change since 2010.

Grandpa Had a Pension. This Generation Has Cryptocurrency.
Most readers have probably heard of Bitcoin, the digital coin that dominates the cryptocurrency market. It has gained notice both because of its skyrocketing value (from less than a cent in early 2010 to around $2,600 currently) and because it is frequently a key player in hacking- and black-market-related stories, from the looting of nearly half a billion dollars in coins from the  Mt. Gox exchange  in 2014 to the recent demand for payment in Bitcoin in the WannaCry ransomware attack.


One of the biggest exchange groups in the world has partnered with the Winklevoss twins' bitcoin startup

As more and more investors seek exposure to digital assets, exchanges are racing to catch up.

CBOE Holdings announced Wednesday a partnership to use trading data from Gemini Trust, the virtual-currency exchange founded by Cameron and Tyler Winklevoss, to power bitcoin derivatives and indices.

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