If you check online for a review of all payments worldwide received by the top 20 crypto exchanges, you can see that Bitcoin Cash use in commerce has decreased dramatically.
BCH payments dropped below $3.8 million just a few months ago from a stunning $10.5 million in March. Some say that the reason behind is that there are fewer users of Bitcoin Cash and also fewer holders. The BCH price decreased by 75 percent during this summer and the reason for the low adoption rate is probably the concentrated ownership. Almost 56% of the cryptocurrency is controlled by 67 wallets.
This means that there are somewhere between 10.000 and 100.000 BCH in just two wallets! Bitcoin Cash appeared just a year later after a hard fork from the BTC blockchain. The BCH launch caused a lot of controversy at that time but others urged to explain the importance of the fork. BTC.com vice president said in an interview for Cointelegraph that ‘’The ability to make forks while keeping the community aligned was a great achievement. By providing much greater bandwidth per block by first increasing to 8 MB and then again to 32 MB’’.
Bitcoin Cash is still among the top 10 largest cryptocurrencies. Bitcoin Cash is not as dominant on the market as well and it did take a large hit in terms of the market cap where it has lost nearly 90% of its market cap. Also, further bad news such as consensus vulnerability in the BCH code led to more damage to the BCH blockchain.
Where Does Bitcoin Cash (BCH) Stand The Day After The Fork?
“Even if the SV mining collation do catch up with ABC or if they manage to do hostile chain re-orgs, its highly unlikely BCash ABC users & investors will ever switch to follow SV. ABC users just need to be patient & wait it out. @CalvinAyre & the SV miners will eventually give up,” BitMEX wrote on Twitter, doubling down on Jonathan Bier’s pre-fork prediction that miners would ultimately abandon the BSV fork.Currently, people are wondering how does the BCH hard fork affect other projects such as Bitcoin. The good news here is that the fork has no effect on BTC other than making it even less likely that Bitcoin Cash (BCH) will overtake Bitcoin (BTC) and claim its mantle.
A New $4 Billion Drop Sees Bitcoin Cash – And The Entire Market – Falling
‘Time May Be Right’ For Home Crypto Mining: Coinbase CTO
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine.”This is a notable perspective mostly because Srinivasan previously founded 21.co which was a startup that emerged from stealth in 2015 and had an ambitious plan to embed Bitcoin miners in everyday devices- which was then backed by Coinbase Ventures. Following the Coinmine announcement, Srinivasan wrote:
“The big difference with decentralized mining in 2018 is that there are now so many different coins and tokens out there that it’s almost certainly possible to make a profit – or at least mine a decent amount of some crypto – via a decentralized home mining device like Coinmine."As we can see from the above stated, the CTO of Coinbase seems optimistic about Coinmine's ability to add even more coins later, foreseeing a future where the company could play a key role in the launch of new tokens.
“I believe that decentralized mining is an important idea and worth trying again. It’s mining as Satoshi intended: many devices around the world with no single point of failure." Srinivasan concluded.
Crypto Exchange OKCoin Expands To Latin America, Launching A Fiat Market
"We’re aiming to grow throughout the region by bringing institutional and retail traders there an array of trusted trading options so they can buy and sell with confidence,” Buyn said following the official announcement.He also pointed that the Latin American market is extremely important for the exchange as it is for many crypto and blockchain industries.
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