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| June 26, 2019

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Japan Battles North Korean Squid Poachers

June 18, 2019 |

The Japanese coast guard says its patrol boats have been pushing back hundreds of North Korean boats trying to poach in fishing grounds rich with squid off Japan’s northern coast. Coast Guard officials say they have forced more than 300 North Korean boats out of Japan’s exclusive economic zone near…
Newser

Walmart offers next-day shipping, speeding deliveries as it battles Amazon

May 15, 2019 |

Walmart is rolling out free next-day delivery on its most popular items, increasing the stakes in the retail shipping wars with Amazon.com.

Walmart Inc., the nation’s largest retailer, said Tuesday that it has been building a network of more efficient e-commerce distribution centers to make that…


L.A. Times – Business

Battles erupt over warehouse jobs as the Legislature moves to curb subsidies

May 13, 2019 |

Hundreds of residents packed a church hall in San Bernardino a few weeks ago to hear community leaders rail against a huge new logistics center planned for the town’s airport.

The $ 200-million air cargo facility, the size of 11 football fields, could eventually generate some 3,800 jobs, garnering…


L.A. Times – Business

CNN

Malaysia’s racial divide exposed in ugly political battles

February 18, 2019 |

In a swanky shopping mall underneath Kuala Lumpur’s iconic Petronas Towers, a traditional Chinese lion dance is attracting a crowd of delighted shoppers.
CNN.com – RSS Channel – World

Hash Wars: BCH Proponents Face a New Dawn in the Battle’s Aftermath

December 20, 2018 |

Hash Wars: BCH Proponents Face a New Dawn Following the Aftermath of War

It’s been a little over a month since the Bitcoin Cash (BCH) network fork which resulted in a blockchain split. Besides the severed chain, the hash war was quite damaging to say the least, leaving BCH supporters to steadily pick up the pieces in order to bring the world a pure peer-to-peer version of electronic cash.

Also read: How to Spend and Give Bitcoin Cash Over the Holidays

 One Month Later

35 days later after the fork, Bitcoin Cash supporters are working towards moving past the hash war that took place a little after the scheduled BCH upgrade on Nov. 15. Now both networks are operating and the Bitcoin Satoshi’s Vision (BSV) coin has its own price ticker and market capitalization listed on data sites like Coinmarketcap and Satoshi Pulse. A portion of crypto-trading platforms have now listed BSV as a separate currency and the entire ecosystem of exchanges, payment processors and a great majority of wallets have awarded the ABC side of the chain the BCH ticker. At the time of writing, the global average price for BCH is $ 144 after markets jumped 47 percent on Dec. 19. BSV spiked 18 percent this Tuesday and each coin is currently trading for $ 92 per token.

Hash Wars: BCH Proponents Face a New Dawn in the Battle's Aftermath
BCH trade volume has spiked considerably by over $ 300 million in the last two days and gained 47% today.

Since the fork, the BCH network hashrate has dropped considerably, even more so than the 50 percent loss BTC suffered this past month. Average hashrates for a great number of SHA-256 algorithm coins have endured deep drops in processing power according to global statistics. The Bitcoin Cash hashrate used to command a rough average of 5 exahash per second (EH/s), but now only captures 1 EH/s to 850 petahash per second (PH/s) on a daily basis throughout this month.

Hash Wars: BCH Proponents Face a New Dawn in the Battle's Aftermath
The Bitcoin Cash network has lost a considerable amount of hashrate as it’s been averaging roughly 1 exahash per second over the last two weeks. With the price increase over the last two days, the hashrate will likely follow. 

On the bright side, the BCH network has been 5-8 percent more profitable to mine than BTC over the last two days. Further, BCH has amassed a large swathe of different mining pools that are processing BCH blocks on a regular basis. This includes Viabtc, Btc.com, Antpool, Multipool, Bitcoin.com, Btc.top, Waterhole, Copernicus, P2pool, Ckpool, and some other unknown mining entities as well.

Hash Wars: BCH Proponents Face a New Dawn in the Battle's Aftermath
All the mining pools processing Bitcoin Cash blocks on Dec. 19, 2018.

BCH Transactions and Volume Flattened After the Fork But Have Started Climbing Again

Another BCH metric that has halved since the fork on Nov. 15 is the cryptocurrency’s daily transaction rate over the last month. Before, bitcoin cash transactions per day were about 20,000-25,000, whereas today that number stands at roughly 9,750 over the course of the last 24 hours. Over the last three weeks, the BCH daily transaction rate has been averaging 10k per day, with a few instances of 15k-22k spikes here and there. There has been a steady increase in daily transactions week after week, and with 99 percent of BCH infrastructure back in order, this should continue.

Hash Wars: BCH Proponents Face a New Dawn in the Battle's Aftermath
Daily transactions (tx) have dropped by 50% since the fork but have been slowly ascending back to 20-25,000 tx per day. Today the network has processed 9,759 confirmed transactions so far. 

A good example of this behavior is the increase in BCH price and trade volume on exchanges over the last few weeks. Pre-fork BCH trade volumes captured anywhere between $ 400-900 million worth of global trades every day. After the fork, this statistic dropped to around $ 50-100 million daily on global exchanges. This was because some cryptocurrency trading platforms with a ton of bitcoin cash liquidity had paused BCH transactions and some exchanges halted trading. Week after week, however, global BCH trade volume has been steadily increasing on exchanges like Upbit, Binance, Huobi, Lbank, and Coinbase Pro. With the 40 percent increase over the last 24 hours, BCH trade volume has jumped to over $ 400 million in global trades on Dec. 19. At the time of publication, this makes BCH the seventh most traded digital asset out of the entire crypto economy.

Hash Wars: BCH Proponents Face a New Dawn in the Battle's Aftermath
Bitcoin cash markets have regained the 4th largest market cap position today on Dec. 19 after climbing more than 40% during the course of the early afternoon trading sessions.

Bitcoin Cash Moves Back to the Fourth Largest Cryptocurrency Capitalization

The Bitcoin Cash community had also suffered from daily battles on Reddit’s r/btc forum and social media platforms like Twitter. A good portion of the trolling and infighting seems to have quietened down, and most BCH supporters are just trying to move forward. There’s been plenty of developments since the fork, with projects like Electron Cash, Honest Cash, Cash Shuffle, and Openswap adding more utility to the BCH network. Furthermore, BCH enthusiasts look forward to the upcoming BCH upgrades that are under discussion and they can track the code’s development too. For now, BCH supporters are extremely pleased that the fork is behind them and are thrilled to reclaim fourth position among all cryptocurrency market capitalizations.

What do you think about the last few weeks for Bitcoin Cash after the fork and subsequent blockchain split? Let us know what you think about this subject in the comments section below.


Images via Shutterstock, Pixabay, Fork.lol, Satoshi Pulse, Bitinfocharts.com, and Coin Dance.


Want to create your own secure cold storage paper wallet? Check our tools section.

The post Hash Wars: BCH Proponents Face a New Dawn in the Battle’s Aftermath appeared first on Bitcoin News.

Bitcoin News

Trump’s hardball tactics may win trade battles while losing the loyalty of allies

October 11, 2018 |

Shortly after Canada agreed to new terms for the North American Free Trade Agreement, the Trump administration held up the deal as vindication of the president’s bare-knuckles negotiating style.

And the administration was certainly right about the tactics: During 13 months of talks, Trump imposed…


L.A. Times – Business

Quadrigacx Battles Bank Over $21.6M in Frozen Funds

October 10, 2018 |

Quadrigaxc Battles Bank Over $  21.6m in Frozen Funds

Cryptocurrency exchange Quadrigacx has blamed an ongoing legal dispute over $ 21.6 million worth of funds that were frozen by the Canadian Imperial Bank of Commerce (CIBC) in January for delays experienced by some of its customers when requesting fiat currency withdrawals.

Also Read: Japanese Internet Giant GMO to Launch Yen-Pegged Cryptocurrency

Quadrigacx Blames Court Dispute With
Bank for Fiat Withdrawal Delays

The Vancouver-based exchange has blamed a legal dispute between it and CIBC as the reason for delays experienced by some of its customers when trying to withdraw fiat currency.

The Globe and Mail reports that court documents show Quadrigacx has been unable to access 28 million Canadian dollars (approximately $ 21.6 million) since January after CIBC froze multiple bank accounts owned by Quadrigacx’s payment processor, Costodian Inc., and its owner, Jose Reyes.

CIBC Asks Court to Determine
Rightful Owner of Frozen Funds

While CIBC has declined requests for comment from the media, a factum filed with the Ontario Superior Court of Justice states that the bank froze the accounts after it was unable to identify the owner of the funds held in the accounts.

CIBC is requesting that the court take possession of the funds in question and determine whether the money is owned by Costodian, Quadrigacx or the 388 people who directly deposited the funds into the accounts for the purpose of cryptocurrency investment.

Quadrigacx Claims Unfair Treatment

Quadrigaxc Battles Bank Over $  21.6m in Frozen FundsQuadrigacx, on the other hand, claims that the bank was wrong to freeze the money, and argues that it is the undisputed owner of the majority of the funds, excluding one wire recall of 99,985 Canadian dollars. Quadrigacx’s factum also states that the exchange had already credited the accounts of the depositors with virtual currency, and that Quadrigacx believes that it is being unfairly targeted due to the mainstream stigma associated with cryptocurrency.

“This court should not succumb to the bank’s unsubstantiated and highly offensive speculation that there must be shady dealings afoot because Quadrigacx’s business is a trading platform for individuals trading in cryptocurrencies,” the court filing reads. “CIBC ‘has been holding the respondents’ funds hostage since Jan. 8, 2018, while it hopelessly attempts to find an ex-post facto justification for wrongfully freezing and continuing to freeze the accounts in the first place.”

Quadrigacx’s lawyer, Margaret Waddell, has indicated that the court heard the case during the summer, and that the judge has reserved decision.

What is your reaction to the ongoing dispute between Quadrigaxc and CIBC? Share your thoughts in the comments section below!


Images courtesy of Shutterstock


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Quadrigacx Battles Bank Over $ 21.6M in Frozen Funds appeared first on Bitcoin News.

Bitcoin News

TMZ

Abby Lee Miller Seen Outside Her Rehab Center as She Battles Cancer

August 1, 2018 |

Abby Lee Miller’s not letting her battle with cancer slow her down … or keep her cooped up inside. The “Dance Moms” star got some fresh air outside her rehabilitation center on a hot summer day in L.A. Tuesday. She recently completed her fifth…

TMZ.com

More Marital Battles, More Health Problems for Men

July 18, 2018 |

Disagreeing too often with your spouse could be bad for your health—a finding that might be used to sway arguments in favor of women, as it especially applies to men. It comes from a 16-year study of 373 heterosexual married couples in the US, presented at a recent meeting…
Newser

Times Columnist Battles Fears He’ll Go Blind

February 25, 2018 |

New York Times columnist Frank Bruni has penned a first-hand account of how it feels to be confronted with the possibility of going blind. Bruni’s weekend op-ed details his recent experience with what is known in layman’s terms as a “stroke of the eye.” Bruni writes that the brief lack…
Newser