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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 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.






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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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