Bitcoin cash (BCH) entered the cryptocurrency market in strong fashion, becoming one of the most valuable tokens on its very first day of existence. The new cryptocurrency was trading at $690.38 at 2.20pm today, up from $222.71 at 7.59pm last night, according to CoinMarketCap. Bitcoin cash’s current market capitalisation is also estimated to be a staggering $10 billion, placing it just under and Ethereum. The new token has already traded over $266 thousand in the past 24 hours.

Related articles • • It seems as if people over-estimated the mining power, or the support from miners, hence it took far longer than most expected Iqbal V. Gandham, eToro managing director The hike shows growing support for bitcoin cash which was created when a group of miners ‘forked’ from the main bitcoin blockchain.

But experts believe that proper price discovery has not occurred yet because a large number of users are not able to trade it yet. Bitcoin is continuing to reel in the aftermath of the fork, opening today at $2,735.59 – down from Tuesday’s high of $2,901.65, according to CoinDesk. The bitcoin fork began at about 1.20pm UCT yesterday (Tuesday August 1), but the ordeal was a slow burn that took a few hours to complete.

COINMARKETCAP Bitcoin cash (BCH) is growing in value ever since it emerged on the market COINMARKETCAP The new cryptocurrency is splinter token from bitcoin (BCT) Iqbal V. Gandham, the managing director at eToro, attributed the initial slow start to a lack of support from miners.

Aug 17, 2017 - BitConnect enables Bitcoin Cash (BCH) deposits and withdrawals. Bitconnect has decided that we will allow all our Bitconnect members to have access to the new currency through our platform where you can deposit or withdraw BitCoin Cash (BCH). Since BCH has been launched there has been some.

He said: “Everyone expected the split to happen at 1.30pm UK time, or thereabouts. “What this really meant is that at some point after this time the very first block of the new chain supporting BCC would get mined. – CLICK HERE COINMARKET CAP Bitcoin's price has been going up and down over the fork COINMARKETCAP bitcoin cash has risen as the third highest market cap cryptocurrency in its first day.

Bitcoin Cash (BCH) price, charts, market capitalization, history. Check Bitcoin Cash live and history price in charts and tables, do analysis with special BCH tools below. On August 1st, 2017, some of the developers of Bitcoin broke away from the Bitcoin and formed their own cryptocurrency known as the Bitcoin Cash.

Bitcoin Cash is decentralized peer-to-peer digital cash for the internet which requires no third party or bank to operate. As a fork of Bitcoin’s blockchain ledger, it has upgraded consensus rules which allow growth and scaling. At the time of breaking away from Bitcoin, any Bitcoin holder automatically became an owner of the Bitcoin Cash (BCC). Thus, holders of Bitcoin blocks from block 478558 have as much Bitcoin Cash as they had Bitcoin. Hshare HSR Litecoin Mining here.

Holders of Bitcoin who stored them with third parties have to inquire about the status of their funds. After August 1st, the ledgers of both Bitcoin and Bitcoin Cash were separated completely meaning that any BTC which was acquired after that time does not include any BCC, and vice versa. What is the future of Bitcoin Cash? Bitcoin Cash brings seeks to bring sound money to the world so as to empower users with low fees and reliable confirmations. With the global adoption, unrestricted growth, decentralized development, BCC has a very huge potential for growth. Some new features which Bitcoin Cash offers its users are: • Increase in Block Size limit. The Bitcoin Cash has come with an increase in the Block size limit from 1.9 MB to 8MB which offers a lot of relief to users.

• Replay and Wipeout Protection. With a well-thought-out replay and wipeout protection system, Bitcoin cash permits a peaceful coexistence between the Bitcoin and the Bitcoin cash while minimizing user disruption. • New SigHash Type. Bitcoin cash has introduced a new way for users to sign transactions as part of its replay selection process which brings some additional benefits such as the elimination of the quadratic hashing problem and improved wallet security. Bitcoin cash is fast and reliable, and allows transactions to be performed in seconds with confirmation received in a matter of minutes. Also, it is a network that runs without congestion making it very reliable.

It is very stable with a payment system that is a proven store of value. Fees for transactions are very low be it sending or receipt of money, or payment for services. BCC is simple and very easy to use and is also very secure as it uses cryptography and high-standard robust blockchain technology for security purposes. As a result, funds are safe and not subject to manipulation or interference. In 2017, the capacity of Bitcoin hit a wall causing it to become reliable as prices skyrocketed and users were unable to get their transactions confirmed, despite the fact that they waited for days.

And all these problems could be solved by increasing the maximum limit of Bitcoin’s code which at the time stood at 1 MB. Because the community could not reach a consensus on the matter, many users of Bitcoin abandoned it causing its market share to fall from 95% to 40%. HTMLCOIN HTML Mining Computers. With this, there was a split which led to the formation of Bitcoin Cash in an effort to solve these problems. With the increase in BCC’s block size limit, users benefit from low fees and fast confirmations causing a growth in the network which will offer a chance for businesses, merchants and investors to return and benefit from this new venture.

Recently, the BCH became more profitable to mine than the Bitcoin even if it was temporarily. Because of a recent difficulty adjustment as a result of BCH’s code, BCH’s mining difficulty was greatly reduced. This 60% reduction in BCH’s mining difficulty attracted about 40% of Bitcoin’s miners. Unfortunately, because of this huge hash power surge and the low mining difficulty, 2016 BCH blocks were produced very quickly which caused Bitcoin Cash to become harder to mine making it once more less profitable than Bitcoin. This again caused miners to abandon Bitcoin Cash in favor of Bitcoin. At present, Bitcoin currently averages a little less than six blocks per hour over the last seven hours while the Bitcoin Cash averages just over one block per hour for the same time period. Bitcoin cash price rises because of Coinbase (GDAX) started Bitcoin cash trading on their platform.

Everyone buying, we have little dip with BCH because of some bugs on GDAX and stopped trading feature. Everyone expects Bitcoin cash to the moon after GDAX will enable buy and sell Bitcoin cash again. Coinbase tweets: 1) Buy, sell, send and receive Bitcoin Cash on Coinbase 2) Coinbase maintains a strict trading policy and internal guidelines for employees. Coinbase employees have been prohibited from trading in Bitcoin Cash for several weeks. 3) An update on Bitcoin Cash for our customers: sends and receives are functional.

Buys and sells on Coinbase.com and in our mobile apps will be available to all customers once there is sufficient liquidity on GDAX. We anticipate that this will happen tomorrow. 4) All BCH markets will remain cleared and offline until 9am PST 12/20/17. At that time, BCH markets will enter post-only mode for a minimum of one hour to allow liquidity to be established. Wait until GDAX will enable BCH buy/sell feature again, might be that Bitcoin cash price will go even more. Be careful everyone, let's earn some money!

Will BCH replace BTC? No, I don't think so.