Bitcoin News News

The Hash war is Not Over! Says ‘Craig Wright’ Backer of Bitcoin (BTC)

CNBC Crypto trader host Ran Neuner interviews Bitcoin Cash supporter ‘Roger Ver’ and Bitcoin backer ‘Dr Craig Wright’ – Asking them both if the hash war is actually over?

Roger Ver thinks the Hash war is all done and dusted! And Craig Wright says it’s still going! Here is what they both had to say..

Ver – Right from the opening bell the Bitcoin ABC implementation of bitcoin cash had substantially more hash rate than the Bitcoin SV (Satoshi’s Vision) implementation of bitcoin cash, and its been that way the entire way through

Roger then continued with..

There is already waaaaaay more proof of work that’s been done on top of the Bitcoin ABC version of Bitcoin Cash than the Bitcoin SV version, so its done no good from my point of view

Crypto Trader Ran Neuner then says to Craig;

There were disagreements between the two camps which couldn’t be reconciled and forced a chain spilt! Then there was going to be a hash war.. or was there a war?

Craig replies with..

There still is a hash war! We are doing something known as persistence hunting.. It’s a technique where, we’re doing an endurance attack – were going to support the original chain, but we are not going to waste a lot of money doing it, so we will move mining equipment back and forwards between BTC and Bitcoin, and as we are doing that we will earn money on BTC which we will sell, which pays for our electricity.. and at any point no one knows whether we are moving hast rate over to BTC, or … we are seeking to re-org the chain. so, what you will find is whenever we remove some of our hash rate and start earning money, then.. the other side throws a whole lot of hash rate off BTC, costing them money at the ABC Chain, and they burn a lot of money as we earn.

CNBC Crypto Trader Ran continues to question Craig asking;

So let me get his straight!..  What you’re saying is, for you this is not an ego war? (Craig confirms it is not an ego war).. but you are playing this to actually make money.. at what point do we declare that either Bitcoin ABC or Bitcoin SV is the new BCH?

Craig quickly replies with..

Errrm, well I still call it bitcoin! We are following the original bitcoin as of the white paper, we are actually going to return it more and more to there, we don’t have people in the way blocking is anyone! So we are going to return it to bitcoin 0.1, we are going to fulfil the original version of bitcoin. We are going to get rid of a lot of the silly additional ideas, were people thought it was really about drug trades, and privacy and anarchy.. and we are going to make it cash, cash my grandmother would be able to use, cash i would be happy to give my children to use in a tuck shop

Craig then tells the CNCB host – That despite the hash war which is still going on, his entire corporate team ‘globally’ are still working harder than ever on the future development of Bitcoin (BTC), stating..

at the peak we achieved 1500 transactions per second on our testing last night – We had the biggest block on any public blockchain ever achieved – So we are happy to keep scaling that! We done 64, we are now going 128 megs, then in the next 6 months we’ll be opening up to a whole 512 or half gigabyte blocks, and scaling from there. Our aim is within 2 years we’ll be at a level which will take every single blockchain, globally – and have a bigger volume. We’ll be able to take every transaction Ethereum has ever done, every transaction BTC, Paypal ‘which isn’t even a blockchain’ and throw them all together, and ‘without a blink’ process them.

The hash wars are not bringing down the market, it’s bringing down the casino!

 

TELL US WHAT YOU THINK ABOUT THE HASH WAR..?
BY POSTING YOUR COMMENTS BELOW

Cryptotelegraph hand

You may also like

News

Bitcoin’s 3 Day Price Charts Point to an Impending ‘Golden Cross’

single-image

A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market.

The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle MA in the next few days.

That would be the first golden crossover on the three-day chart since early February 2016. CoinDesk reported on a golden cross for bitcoin’s daily chart back in April.

Seasoned traders often refer to that long-term bull market signal as a lagging indicator. After all, the MA studies are based on historical data and tend to lag prices, which also means they have limited predictive abilities at best.

While that is true for most crossovers, the one that is about to happen on the three-day chart has proved its mettle as a reliable bull market indicator in the past.

3 day chart (2016-2017)

View More Article
Bitcoin News News

Garrick Hileman Explains Why Bitcoin (BTC) is on The Rise This Year!

single-image

Garrick Hileman, head of research at Blockchain, explains what’s behind the cryptocurrency’s near-200% year-to-date rally (watch the interview above)

 

Dr Garrick Hileman is head of research at Blockchain and research associate at the London School of Economics

Garrick is best known for his research on monetary and distributed systems innovation, particularly cryptocurrencies and blockchain technology.

Hileman Garrick was ranked as one of the 100 most influential economists in the UK & Ireland. He is regularly invited to speak and share his research and perspective with public sector institutions, including the CIA, US Army and Naval War Colleges, Federal Reserve, Bank of England, Bank of International Settlements, and the Financial Stability Board, as well as media, including the BBCCNBCFTWSJ, and NPR.

View More Article
Bitcoin News News

Bitcoin Price Passes $10,000 as Cryptocurrency’s Spectacular Recovery Continues

single-image

The price of bitcoin has broken above $10,000 (£7,855) for the first time since March 2018, as the cryptocurrency’s remarkable surge in value continues.

Bitcoin passed the milestone after experiencing gains of more than 10 per cent over the last 24 hours.

The price jump saw the world’s largest cryptocurrency reach as high as $10,831, according to the CoinMarketCap price index, taking its overall market capitalisation close to $200 billion.

Bitcoin’s most recent run of good form began in early February, when it was trading at well below $4,000.

It had reached this price after more than a year of steady declines saw its price withdraw dramatically from its late 2017 peak of close to $20,000.

Bitcoin’s recent run has drawn comparisons from some with bitcoin’s run in 2017, with some hoping it can go beyond its previous record high.

“This really is amazing,” one crypto enthusiast wrote on Twitter. “It has 2017 written…

View More Article
Blockchain News Press Releases

Satoshi Studio Launches First Ever Blockchain-Certified Sneakers

single-image

Paris, 30th of May 2019. French brand Satoshi Studio announces the launch of their first sneakers. The Satoshi_one is the first pair of shoes certified on the Ethereum blockchain. More high-end products will come from Satoshi Studio thanks to their innovative financing campaigns.

Satoshi Studio was founded in 2018. The Parisian brand is influenced by the Tech industry and Crypto culture. It aims to create a place for itself as a reasonably priced high-end brand. To reach that goal, it will not use traditional channels of communication, striving instead to connect directly with its young and tech-focused community.

To be able to regularly offer new products and avoid traditional seasonality, the brand will launch several crowdfunding campaigns per year. Satoshi Studio believes in responsible shopping habits: they will only produce the right amount, no more, no less. The sneakers will be offered at a reasonable price, without compromising on quality.

Authors Name
Lucas Goldlust
Company Name
Satoshi Studio
View More Article
Bitcoin News News

Why We Could See The Price of Bitcoin Quadruple Within Just a Few Months

single-image

Bitcoin is ballooning to new highs… but can it last?

Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin.

We’ve seen the “fear of missing out” contribute to a nosebleed rise in the price of bitcoin BTCUSD, before, and Fundstrat’s Thomas Lee believes we’re about to see it play out again — but even more pronounced.

The outspoken bitcoin backer told clients this week the world’s top cryptocurrency could ride a wave of FOMO all the way up to $40,000 “within a few months,” thanks to better transparency and a breach of the psychological $10,000 barrier.

He pointed to Grayscale Bitcoin Trust GBTC, as a great way to partake in a rally that would be most welcomed by the crypto bulls who had to suffer through a 74% drop in the price of bitcoin last year.

“Bottom line: Crypto winter looks over,” Lee said….

View More Article
Bitcoin News News

Bitcoin (BTC) Price Eyes Chart Pattern That Kicked Off Bull Market in 2015

single-image

View

  • Bitcoin’s 50- and 100-candle moving averages on the three-day chart look set to produce a bullish crossover – a sign of bull market momentum. Back in October 2015, the same cross marked the start of a long-term bull market.
  • This time, BTC has already rallied more than 180 percent ahead of the bull cross. As a result, we may not see a big move to the higher side immediately following the confirmation of the bull cross.
  • Prices could rise to $8,400 in the next 24 hours, having witnessed a bearish channel breakout on Wednesday. A break below key 4-hour chart support at $7,910 would weaken the case for a rise to $8,400.

A long-term bitcoin (BTC) price indicator is about to turn bullish for the first time in nearly four years.

The 50-candle moving average (MA) on the three-day chart is trending north and could soon cross above the 100-candle,…

View More Article