What Does Roger Ver Have to Say about Bitcoin Cash after the Fork?

The CEO of Bitcoin.com and a crypto enthusiast Roger Ver was one of the most important figures that let the hard fork of Bitcoin Cash happen. Recently, he spoke with Naomi Brockwell in a live stream on Youtube and discussed the post hard fork BCH.

Here are some of the most important highlights of his speech.

Firstly, Roger Ver explained that the main reason of the split is different vision of Bitcoin Cash coming from different members of the crypto community, so this step was crucial in the development of the coin.

Secondly, he mentioned the fact that the recent attacks aimed at BCH ABC and BCH SV were most likely conducted by the developers of Bitcoin Core, since they simply didn’t like the coin.

Thirdly, being a huge supporter of Bitcoin Cash, Ver claimed that only BCH has the potential to become the global cryptocurrency of the future.

We remind you:

Crypto Story: Roger Ver

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Cryptocurrency Prices Today, March 20: Cryptocurrencies Are Slightly Moving To The Red Zone

Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Cardano, Stellar, IOTA, Dash, Monero: Cryptocurrency Rate

According to the Coin360 online platform, Bitcoin (BTC) has remained stable over the past 24 hours and added 0.11%. The price at the time of writing is $3980 per coin.

Cryptocurrencies are mostly decreased:

Bitcoin Cash dropped by 1.42%, Bitcoin SV has lost 0.33%, the value of coins is $155 and $65, respectively;

Ripple fell down by 0.9% and costs $0.31;

EOS minus 1.66% and its price is $3.66;

Litecoin decreased by 0.4% and its price is $59;

Cardano added 3.28% and its value is $0.051;

Stellar dropped by 2.9% and costs $0.11;

IOTA minus 0.5% and its cost is $0.29;

Dash increased by 0.75% and its price is $91;

Monero added 2.6% and costs $53;

Over the past 24 hours, Ethereum has lost 0.5%. The rate of the coin is $136.

The total market capitalization is $140 billion. Bitcoin accounts for 50.9% of the total. In monetary terms, this is $71 billion.

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FUBT: Empowering Digital Assets and Boosting the Token Economy

In the recent couple of years, Asia has become the region that is ahead of everybody when it comes to technologies. Anything that is new, unique and has potential is quickly being implemented in the East, while the rest of the world is just thinking it over. Certainly, blockchain and digital assets are no exception to the rule. Dozens if not hundreds of businesses, companies and projects in China, Japan, South Korea etc. are creating new concepts, ideas and solutions using cutting edge technologies, like blockchain and distributed ledger technology, in many different spheres, especially fintech.

What is FUBT?

FUBT Exchange is a Hong Kong-based project, the main focus of which is maintaining a blockchain platform for trading digital assets. The exchange evolved from the FUBT Station. In July of 2017, first transaction were conducted through the upgraded platform. Afterwards the developers launched their own token – BXB, which skyrocketed by almost 25 times on the market. FUBT kept growing and expanding. At the beginning of 2018, it opened up departments in other regions of Asia, namely Seoul, Cambodia, Tokyo, Taiwan, Phnom Penh and even one in New York. Now FUBT is considered one of the leading blockchain platforms for trading digital assets in Asia.

Strong sides and interesting facts about FUBT:

  • In June of 2018, the platform already had around 650 thousand active users which serves as perfect evidence of the project’s trustworthiness;
  • FUBT’s daily capital turnover equals to around 400 million dollars;
  • The platform is expanding globally and provides multi-language support for better understanding of users from different parts of the world;
  • The transactions within FUBT are conducted in a fast and simple manner, moreover, they are protected against security breaches;
  • The exchange provides a variety of digital assets, overall about 100 kinds;
  • Four crypto trading areas (BTC, ETH, FBT) are available on the platform;
  • FUBT has a mobile app both for iOS and Android;
  • The team of the project consists of real professionals from the fields of banking, fintech, blockchain, investment etc.
  • Core values of FUBT are “Integrity, Innovation, Inclusiveness, and Win-Win”;
  • The project has ambitious goals of expanding further and establishing itself firmly on the market;
  • FUBT team is constantly looking for new clients, partnerships, opinion leaders and pays a lot of attention to user feedback in order to improve and prosper.

More details on this promising and innovative platform can be found here.

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Bitcoin Miners Are Fooling Around While Earning Tens of Millions of Dollars

According to the recent research made by Diar: Bitcoin, Ethereum, Litecoin, and Dash miners made more than $18 billion without any transaction.

Let us start with the two most famous cryptocurrency – Bitcoin and Ethereum. These two coins were the most popular proof-of-work blockchains, however, they processed the fewest amount of empty blocks, the report shows that Ethereum paid out $65 million in rewards for such blocks in 2017.

Bitcoin Cash, in his turn, has created more than 3300 empty blocks since the end of summer of 2017. It means that monthly about $5 million was gained across all networks. Moreover, Bitcoin Cash miners have earned more than $1 billion since its for on November 15, 2018.

Litecoin is a fast cryptocurrency, and due to its network underutilization, the coin has the most empty blocks. Litecoin miners are mostly hunting for lite blocks, thus its block time is considered to be about 2 minutes. Indeed, the time varies from the difficulty of mining, but in overall every 2 mins, the block is created.

The report suggests miners “fooling around”, because a lack of transactions rises up their reward by far less than gaining the block reward. Let us look on the example.

Block 1586699 which was processed on Tuesday has only transaction less than 1 LTC, nonetheless, the block paid out the mining reward of 25 LTC. It means that the miner has made over $1000 to process less than $50. There is another example, block 1586709, the miner has earned more than $1000 for processing $0 in transactions. Unfortunately, there is no such a thing in the fiat world.

We remind you

How to Get Bitcoin And How Profitable is Mining in 2019

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Interview with Marco Robinson: Bitcoin is the Best Performing Asset of All Time

Nowadays pretty much everyone has an opportunity to become a successful entrepreneur and investor. With the emergence of cryptocurrency and blockchain, perhaps it has become even more accessible.

Today, we invited to talk Marco Robinson a man who not only managed to become a world-famous investor, but also created a number of successful projects. An Award Winning Entrepreneur, Prime Time TV Star, Philanthropist, #1 Bestselling Author, Winner of the iProperty People’s Choice Awards Best Real Estate Company, World Renowned Property Investor, and Restaurateur he knows how to make money work for you better than anyone.

Hello, Marco. First of all, let’s discuss your success as an investor. At what point in your life did you start investing in real estate, and why this particular area was one of the first you chose?

I first invested in real estate fairly late in life at 40 years old after I had a great business success and had quite a bit of money I didn’t know what to do with.

It was an interesting time in 2009 as it was the subprime crisis, I discovered properties were very cheap especially in the USA, and I found that fascinating so I started to study what made Real Estate go up and go down and wondered why this happened continually…I got so into this I decided to write a book about property cycles and what made them do that and I developed an algorithm based on four main drivers that triggered property price increases, they were:

  1. Cycles (economic cycles) for example in the UK there is a proven 18-year cycle
  2. Population growth. (Rent prices and property increased basically supply and demand.
  3. Structure plan. (What they are gonna build in the area, for example, new manufacturing, schools, etc)
  4. Local and individual property taxes & including friendly states and governments (some taxes are so high you can easily get negative cash flow)

When did you first learn about the blockchain technology, and how did it help you in the development of your projects?

I was introduced to Bitcoin in 2015.

I saw as a real threat to the banking system which I liked very much and after some detailed research discovered it was a genuine reaction, I felt, to the US sub prime crisis which made 40 million people homeless. I loved the security of it and especially it’s decentralization, that it could not be shut down and the founder very cleverly could not be identified.

I was also looking for a loyalty solution to connect all my businesses including my restaurants, my cosmetics, my property, my travel, my education and film companies, a currency everybody could use that I could keep within my own eco-system, so I could keep my clients loyal and grow my client based with the best value proposition in the market place. That currency I created is called NAKED DOLLARS and is now listed on LATOKEN.

Besides NKD, what do you think about investments in cryptocurrency in general?

It’s a brand new sector and to be frank not even the end of day one yet. A lot of cowboys presented a fabulous whitepaper in 2016 and 2017 and made a fortune off speculation…2018 saw a massive correction and the crypto market lost 80% of its value in one year because of this and because not many people had a real product.

It is here to stay, only just yesterday JP MORGAN created their own cryptocurrency, governments are creating their own, they have to as the FIAT CASH currency system is not sustainable, a new debt system has to be created or the majority of the world will go bankrupt.

Bitcoin is the SAFEST currency in the world, it cannot be hacked, it has no founder, no company, no office, and no assets, yet it is the best performing asset of all time increasing 350,000% in ten years! You cannot ignore it at all!

Are there any startups in the cryptocurrency world which you have invested or would like to invest in?

There are very few I would because of the losses in 2018. New projects don’t just have to have great technology, they must have great founders with great track records in business and great profiles in terms of influence.

How do you feel about buying, for example, real estate for Bitcoin?

I’d rather keep the bitcoin it gives a higher return potentially. I would rather use other cryptocurrency like Ethereum to buy real estate.

However I also use a profit strategy, so when I make great profits in bitcoin I will buy real estate as real estate gives me great cash flow.

In what areas, do you think, the use of blockchain technology is necessary?

I think it’s critical in pretty much every industry to prove the origins of each product or service and the security of it, especially in supply chain businesses such as gold and diamond mining to supply to make sure they are not conflict diamonds etc. I also love the adoption to health and medicine, for example, if someone has an accident one drop of blood or even a thumbprint can track the entire medical history of that person in seconds and the perfect medication can be administered!

You are a well-known philanthropist and are famous for your good deeds for the homeless and the needy, because you know very well what it feels like to not have a home. Let’s talk about an 18-year-old teenage mother Holly, a part of the TV Show “Get a House for Free.” Have you thought about not just “giving a fish” to people, but also trying to “teach people to fish”, that is, to give the needy the knowledge of how to “get back on their feet”?

I’m already now doing that with FREEDOMX, www.freedomxmovement.org where I have created a new charity social impact program where the victims of homelessness are rewarded on a merit based philosophy: “I help you if you help someone else” this is CONDITIONAL ALTRUISM, so we only help them if they want to be helped and IF they want to be microfinanced for a coffee shop on a bicycle, for example, they have to be certified and trained which lowers risk and creates a new economy for people to thrive in.

In what areas besides real estate, restaurant business, TV-shows would you like to or plan to realize yourself?

I’m making my first Hollywood movie “legacy of lies” next month, I helped fund the whole movie and my profits will be going to help the homeless

You can see the trailer here:

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Details About Bitcoin Cash Cryptocurrency And Its Recent Hard Forks

The first cryptocurrency Bitcoin already had several dozen hard forks for its whole history, but all these projects did not receive adequate support and popularity in wide circles. The only branch of the original Bitcoin that really deserves attention is Bitcoin Cash. This cash appeared in August 2017 and immediately chained to itself attracted attention from the entire cryptocurrency community. Subsequently, this project got its own hard fork, which divided the coin into two projects: BCH ABC and SV. In this article, we will discuss this topic in more detail.

Contents:
(please, click the topic to scroll down to it)

  1. What is Bitcoin Cash?
  2. The main features of Bitcoin Cash cryptocurrency
  3. Hard fork BCH on November 15, 2018
  4. Where is it possible to buy Bitcoin Cash now?
  5. Conclusion

1.What is Bitcoin Cash?

Answering in simple words to the question “What is Bitcoin Cash?”, we can say that this is a cryptocurrency project, which is an improved version of the original Bitcoin. This project was formed due to the hard forks of the first BTC cryptocurrency held on August 1, 2017. The main reason for its holding was the disagreement of developers about the future of BTC, in particular, its scaling. As it is known, the Bitcoin blockchain bandwidth is not very large, for this reason, during a heavy load on the network, it is possible to wait for confirmation of transactions for several hours or even days. The development team decided to fix the above problems, thus Bitcoin Cash appeared on the market.

2. The main features of Bitcoin Cash cryptocurrency

As mentioned above, the Bitcoin Cash algorithm is designed to minimize transaction confirmation time. This kind of delays that occur on the original Bitcoin network and they happen due to many factors, including the small size of one block (1Mb). At Bitcoin Cash, this indicator is much larger, its block size reaches 8 MB.

Another fundamental difference between Bitcoin Cash and the original Bitcoin is the inability to extract BCH using specialized ASIC computing equipment. The fact is that for several years already, Bitcoin mining cryptocurrency has been profitable and is available only for large players since it can be mined using so-called Asics. Such equipment is quite expensive and only large miners can afford it. Since the hashrate of the Bitcoin Cash network is much smaller than that of its older brother, it is more cost-effective to mine BCH, using ordinary video cards. This feature makes BCH much more decentralized than BTC.

The third, but not the least important issue that Bitcoin Cash developers were able to solve is the number of transaction commissions. As it is known, miners receive impressive commissions for their work in the Bitcoin network, this is absolutely justified since they incur huge costs. But this hard fork is much less costly to maintain, respectively, users can make transactions and pay low commissions for it.

3. Hard fork BCH on November 15, 2018

The unity of the BCH development team did not last very long – thirteen and a half months, after which the project split into two parts. News about Bitcoin Cash, which filled all the profile media in November 2018, was only about the loud hard fork.

As we all remember, on November 15 last year, the BCH network was divided into two parts: BCH ABC and BTC SV. It worth noticing, that the split in the network was not very friendly. SV’s proponent Craig Wright was extremely categorical and allowed himself angry remarks about the ABC supporters, led by Roger Ver.

All market participants will remember this event for a long time, because literally right after it, the largest (in the last 7 years) drop in the coin rates began in the cryptocurrency market. In just two weeks, the market lost more than 50% of its total capitalization. Up to the end, it is not known how closely these two events are connected, but a partial correlation is definitely traced.

4. Where is it possible to buy Bitcoin Cash now?

To purchase BCH ABC currency is possible using a variety of online exchanges as well as cryptocurrency exchanges.  As for the BTC SV coin, the list of sites that supports it is a bit shorter, but in any case, you can buy SV at large sites (Gate.io, Binance, etc.)

5. Conclusion

So, Bitcoin Cash cryptocurrency is an improved version of the original Bitcoin. It was created by a group of developers who decided to go their own way and review some features of the work of BTC. So how does Bitcoin Cash work?

  • increased block size (up to 8 MB), which significantly speeds up the network;
  • the inability to mine BCH using ASIC, which has a favorable effect on network decentralization;
  • miners can conduct low commission transactions due to network optimization.

Answering the question “how fast is Bitcoin Cash?”, it should be said that the BCH network is able to process about 60 transactions per second. This indicator in the original Bitcoin is located at 7 transactions per second.

Subsequently, Bitcoin Cash was also divided into two separate branches: ABC and SV. This event struck the project a bit and slowed down its development. As of February 2019, Bitcoin Cash ABC takes the 6th place in the global Coinmarketcap ranking, with a total capitalization of just $2.092 billion. As for Bitcoin SV, it takes the 11th place, and its total capitalization is equal to 1.1 billion dollars.

If to talk about forecasts, then with much greater probability, Bitcoin Cash ABC has a much better chance of further development than Bitcoin SV.

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Soft Fork and Hard Fork in Simple Words

Many people do not want to understand the subject of cryptocurrency, because they think it is very difficult, and to understand how everything works, it is necessary to spend a lot of time. Indeed, for an unprepared person, some terms may seem very complicated: blockchain, hard fork, soft fork, etc. Of course, if you want to learn how to code, create algorithms or new cryptocurrencies, then you need to get a profile education, which will take more than one year. But if your goal is a trivial desire to understand the basics, then you will need to read just a couple dozen guides, which, by the way, you can find on our website.

In this material, we will tell you in simple words how hard fork differs from soft fork, and also recall the main Bitcoin hard forks.

1. What is soft fork?

Soft fork is the process of software updating or changing the code of a particular cryptocurrency. When conducting softfork, there is no need for a total replacement of computer software that ensures the operability of the coin network. All innovations that are made during the soft fork have full compatibility with older versions of the network. This means that if the coin creators want to cancel this update, they can do it without any problems.

To make it clear for an ordinary person who does not understand the nuances of the blockchain’s work, let us draw an analogy with the denomination of the ruble of the Russian Federation. In 1998, the Central Bank of the Russian Federation artificially raised the rate of the national currency in 1000 times. But after that, old-style banknotes were still in use for some time. If the Central Bank specialists considered this experiment unsuccessful, they could have easily canceled it and returned the previous exchange rate of the ruble.

Basically, soft fork is conducted because of the need to improve the network, as well as the liquidation of detected errors. During these updates, there is no change in the basic principles of the network.

2. What is hard fork?

Cryptocurrency hard fork is a cardinal change of the blockchain network code, which implies the lack of compatibility with older software. Roughly speaking, in the process of carrying out hard fork, a completely new cryptocurrency is being created, which cannot work with the old version within the same network. After hard fork, an alternative blockchain is created and it works on a completely different principle.

To simplify the process of understanding the above information, let’s also give an analogy from real life. Most people know that the euro currency has now been entered as legal tender in the European Union. Its introduction began in 1999. In the process of development, the euro has stopped to depend on the franc or dychmark and has become an absolutely independent currency.

The main reasons why developers spend cryptocurrency hard fork:

  • implementation of improvements that require major changes;
  • elimination of major bugs;
  • a desire to create a new cryptocurrency based on an already working product.

The main hard fork meaning is to create a separate blockchain, which will have its own miners.

3. The main hard forks of the first cryptocurrency Bitcoin

Hard forks in Bitcoin happen much more often than in any other cryptocurrency. Now let’s talk about the main forks what happened in Bitcoin network lately.

Bitcoin TX. This project is noticeable by only the fact it was the first hard fork in the Bitcoins network. The development team led by Mike Hearn held this hard fork in August 2015. The principal difference between the new project and the original Bitcoin was an increased block size (up to 8Mb). This solution would increase the capacity of the blockchain to 24 transactions per second. For the further development of Bitcoin XT, it had to be supported by ¾ of all the miners of the original Bitcoin network. But in fact, the first hardfork got support of only 12% miners. For this reason, the project was forgotten over time, and its network became incapable.

Bitcoin Classic. The developers of this project took into account the Bitcoin XT errors and decided to smoothly increase the block size: initially increase it to 2 MB, and only after 24 months – double it to 4 MB. It occurred in January 2016. But, unfortunately, this hard fork also failed. The reason was all the same low support from the miners. Officially, the project was closed in November 2017.

Bitcoin Cash. As of today, it is the most successful and popular Bitcoin hard fork. It is the only BTC fork, which not only got, but also stayed for a long time in the list of TOP-10 cryptocurrency projects. It was initiated in August 2017. The main advantages of this project over the original BTC are: increased capacity, low commissions. Subsequently, Bitcoin Cash had its own hard fork (November 15, 2018), which slightly weakened its position, but the project is not forgotten and continues to develop.

4. Conclusion

Briefly and in simple words, hard fork definition is a large-scale update of an existing cryptocurrency, in the process of which a new coin appears. Soft fork can be compared with a planned software update, which does not imply the emergence of a new cryptocurrency.

If to look at the history of Bitcoin hard forks, it appears, that no project has even managed to come close to BTC, so far. At the moment, the only more or less successful project is Bitcoin Cash, but developers need to put much efforts to help their brainchild to compete to its older brother.

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