Bitcoin Cash (BCH): Exclusive Marketplace & Hard Fork The Next Major Catalysts

This might have escaped you, but Bitcoin Cash (BCH) will soon have a platform that will exclusively pair it with fiat and other cryptocurrencies for trading. The event was previously expected around mid-April but a new rumor claims it will come online on April 30, via the efforts of a Cyprus-based startup.

This might have escaped you, but Bitcoin Cash (BCH) will soon have a platform that will exclusively pair it with fiat and other cryptocurrencies for trading. The event was previously expected around mid-April but a new rumor claims it will come online on April 30, via the efforts of a Cyprus-based startup.

Hello Group, the company that announced this initiative earlier in the year, is set to build a marketplace dedicated to BCH. What this means is that Bitcoin Cash will get priority in being paired with other crypto assets.

Bitcoin Cash will likely be even bigger in the next couple of weeks. Its price that is looking to top $1000 at the moment could go wild. Bold projections are already putting it beyond the $1500 level. As the market tries to consolidate, BCH investors should brace themselves to dig in and await higher returns.

When was this announced? Well, it goes all the way back to the beginning of the year. In January, the Hello Group team acquired the domain Bitcoincash.io and revealed that they would be developing the platform specifically for BCH/CRYPTO pairs.

According to the report,

“Acquired at the beginning of the year Bitcoincash.io domain is planned to be a marketplace platform focused on BCH and is coming online on April 30.”

The item may not be hot news at the moment, but it will get a lot of airtime beginning of next week.

The Hello Group had indicated that they’d be launching the Alpha release for the site on by the end of April. With the new site in place, Bitcoin Cash will get more visibility as Cyprus is a country with a significant crypto following.

It is expected that investors will access a number of services that are likely to further their interest in crypto trading. One of the main attractions of the site will be its free of charge services. On the platform, users will get cryptocurrency live feeds, in-depth historical data, and updates on related events and trends. Essentially, account holders will have an avenue to interact with the system without the interference of an intermediary.

In other news, Bitcoin Cash will have its planned hard fork on May 15, 2018, as had been indicated as early as 2017. When 7 Bitcoin Cash developer teams met in London sometime in November 2017, they all agreed on one thing. It was a decision to hard fork the crypto in 2018. At the time, leading development team ABC said that:


“Our top priority for Bitcoin Cash is to keep improving it as a great form of money. We want to make it more reliable, more scalable, with low fees and ready for rapid growth. It should ‘just work,’ without complications or hassles. It should be ready for global adoption by mainstream users, and provide a solid foundation that businesses can rely on.”

Well, that fork will take place on May 15, followed by yet another in November. Together with Bitcoin Unlimited, the teams want to introduce upgrades that could make BCH better than even Bitcoin. Apart from the expected change to the block size, the upgrade will readjust it to be “adaptive”, the teams will also try to reduce block intervals down to about 2.5 minutes. However, one feature on the cards could be a game changer for BCH and the crypto community.

The hard fork is intended to reactivate some apparently disabled opcodes in the original Bitcoin code. The OP_GROUP opcode seeks to find ways of establishing tokens on the Bitcoin Cash network. These should work like the ERC-20 token standard on the Ethereum network.

If such comes out during the upgrade, the BCH network could be set for fast-paced growth. It would lay the ground for the crypto to establish a stronger footing, competing directly with Ethereum. This is massive potential being laid forth for Bitcoin Cash (BCH). Expect prices to skyrocket by the end of Q2.

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Crypto Market Hits 5-Week Highs with Ripple Growing by Nearly 20% and Bitcoin Cash Heading to …

Although Bitcoin is showing a nominal movement of below 1.5% it is the other altcoins like Ethereum, Ripple and Bitcoin Cash which have proved to be the market mover. According to the data by CoinMarketCap, Bitcoin is trading at $8342 levels while Ethereum has registered an 8% surge and trading …

The positive momentum is back in the crypto markets as the market valuations have now hit a new five-week high on the charts. The crypto market valuations which were seen just below the $350 billion for over a week have crossed this sentimental barrier and is now trading at $365 billion valuations.

Although Bitcoin is showing a nominal movement of below 1.5% it is the other altcoins like Ethereum, Ripple and Bitcoin Cash which have proved to be the market mover. According to the data by CoinMarketCap, Bitcoin is trading at $8342 levels while Ethereum has registered an 8% surge and trading at $575. In the last 24-hours, Ripple has recovered by 20% and is currently trading at $0.84 whereas Bitcoin Cash has posted over 10% gains and is currently trading just short of $1000, at $981.

In the past seven days, although Bitcoin has been relatively stable, the price of the altcoins has moved forward consistently. Also, it was for the first time in April that the trading volumes have crossed $20 billion.

Bitcoin Cash Gains Ahead of the Hard Fork

The first Bitcoin derivative – Bitcoin Cash (BCH) has today posted a solid recovery of over 10% climbing close to the $1000 mark in the anticipation of the hard fork likely to take place next month. With today’s rise, Bitcoin Cash has shown a 60% recovery from is low of $603 on April 6, earlier this month.

Sebastião Coelho, CMO of Flashmoni, a blockchain company creating financial solutions for the unbanked and underbanked, said that one of the biggest challenges that cryptocurrencies are facing for their rising adoption is the scalability issue. Coelho said: “Before we see mass adoption of cryptocurrencies, we need to see a significant reduction in the time it takes to process transactions.”

Bitcoin Cash was created in August 2017 as a result of the hard fork in the Bitcoin blockchain network. Bitcoin Cash offers larger block size of 8MB against the 1MB block size in the Bitcoin network. The upcoming hard fork that is scheduled for May 15 is expected to have a block size of 32MB while expanding its capacity for processing more number of Bitcoin transactions.

Additionally, the network update is expected to bring several operations codes says James Song, founder and CEO of blockchain startup ExsulCoin. He further added: “This means simplified smart contracts will be possible on the bitcoin cash blockchain. This particular bit of news is what is driving market excitement around bitcoin cash.”

Morgan Stanley Analysts Say Miner Losing Money with Bitcoin Below $8600

Although Bitcoin has gained more than 25% since the beginning of April, a new report by Morgan Stanley analysts shows that it fails to recover above $8600 it will turn out to be unprofitable for the miners to continue with the mining activities.

A report by equity analyst Charlie Chan and his team notes: “We estimate the break-even point for big mining pools should be US$8,600, even if we assume a very low electricity cost (US$0.03 kW/h). Therefore, we think the Bitcoin mining hardware demand and price will decline further and affect TSMC’s wafer demand.”

The Taiwan Semiconductor Manufacturing (TMSC) has lowered its 2018 revenue guidance to 10% growth instead of the 10-15% as projected earlier as a result of the growing uncertainty in the cryptocurrency mining demand.

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State of Cryptocurrency Regulations Part 13: What Israel is Doing With Cryptocurrencies

Israel has a very special place in the world of technology. The Startup Nation is unsurprisingly home to some of the best cryptocurrency startups, so it also becomes an important nation to study if one wants to understand the global regulatory scenario of cryptocurrencies. So in this article we’re going to …
Israel
Tel Aviv, Israel

Israel has a very special place in the world of technology. The Startup Nation is unsurprisingly home to some of the best cryptocurrency startups, so it also becomes an important nation to study if one wants to understand the global regulatory scenario of cryptocurrencies. So in this article we’re going to do that. Let’s get stated:

Current Legal Status of Cryptocurrencies in Israel

Cryptocurrencies are legal in Israel for payments and trading both, but doing the former is not an easy job because country’s law doesn’t recognize them as ‘currencies’. Instead, Bitcoin and all other cryptos are treated as “assets” under Israeli law, which makes using them as means of payment more difficult. If any Israeli businesses receive payments in cryptocurrencies, they can’t report those transactions in their account books as ‘payment received’ transactions. Instead, those transaction will have to be reported as barter transactions, which would require extra paperwork.

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Now as far as trading of cryptocurrencies is concerned, it’s permitted but with a steep price tag. Traders are required to pay 25% capital gains tax every time when they sell their crypto assets. Miners, businesses involved in cryptocurrency trading or individual traders who trade cryptocurrencies on a regular basis, on the other hand, are required to report profits and losses just like any normal business and pay Corporate Income Tax on their income. They also need to pay VAT at the rate of 17%.

Cryptocurrency Regulation in Israel: Recent Developments

Israeli cryptocurrency regulation story stared from December last year when country’s stock market regulator announced that it’s planning to de-list cryptocurrency companies from Tel Aviv Stock Exchange. Critical decisions related to cryptocurrency regulation followed the announcement in order given below:

  • In January Bank of Israel (the central bank of country) announced that cryptocurrencies are assets, not currencies.
  • Soon Israel’s tax authority also echoed the words of Central bank and confirmed that Bitcoin and other cryptocurrencies will be taxed as assetsinstead of currencies. Within five days country also started drafting the taxation rules for cryptocurrencies.
  • In February Israeli Tax Authority (ITA) revealed about the taxation rules officially for the first time, reiterating the factthat cryptocurrencies will be taxed just like any other assets at capital gains tax rate of 25% while businesses would be subject to marginal rate of 47%. The authority also instructed investors to report their holdings within 30 days and arrange for prepayment of taxes.
  • Finally, more clarification about the status of cryptocurrencies was provided by Israel Securities Authority (ISA) last month. ISA made it clearthat asset classification of cryptocurrencies doesn’t mean that they will be treated as securities. Instead, they’ll be considered “properties” unless they’re controlled by a centralized entity and are developed for the purpose of investment alone. Any cryptocurrency that is decentralized and has been developed for the purpose of consumption will not be considered a security, ISA said. Therefore, it became clear that according to Israeli law Bitcoin is a property instead of security.

Fortunately, Israeli legal authorities are also quite supportive of cryptocurrency companies as long as they don’t do anything illegal. In February country’s Supreme Court stopped Leumi Bank, one of the largest banks in Israel, from closing the account of a cryptocurrency exchange.

Future of Cryptocurrency Regulation in Israel

Since Israel has just announced its cryptocurrency taxation rules without any complicated regulatory mess, we can expect things to remain so in near future. In the long term they may also introduce a complete regulatory framework for cryptocurrencies as other countries are doing, but that will take some time. So for now Israeli regulatory climate is pretty stable and positive as long as you keep paying the hefty taxes.

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Bitcoin and cryptocurrency round-up 20 April 2018

Strong buy signals suggest cryptocurrency bullrun · Bitcoin Cash set to move to 32MB block size on 15 March · Ripple: We’re here to replace SWIFT, not partner with it · IBM trade blockchain completes first smart contract transactions · Just kidding? Crypto-company Savedroid says exit scam was a prank.
Andrew Munro20 April 2018NEWS

What’s happening in cryptocurrency?

Pranks on the blockchain, IBM moving in, Ripple on SWIFT, BCH does its thing and a strong signal.



1. It was just a prank… on the blockchain!

Hah, you thought I was going to run off with $50 million just because it looked like I was going to run off with $50 million.

Haha, look at all these death threats. Ahaha, a complete loss of investor confidence. Instant classic.

2. That’s how you do it in Batavia.

How? Efficiently.

IBM’s Batavia blockchain system for global trade has been successfully used for live transactions.

3. Hey, SWIFT, there’s something on your shirt.

Gotcha!

To paraphrase Ripple’s take on the prospects of a partnership with the SWIFT network.

4. The biggest, hugest block size scales goodly.

Bitcoin Cash is going up to 32MB block size.

Did they lose a bet or something?

5. Indications indicate running the same riff will turn you around.

Bitcoin prices are paved with disappointed analysts, but there’s room for cautious optimism in the latest market outlook, say cryptocurrency market analysts Simon & Garfunkel.

Make of it what you will.


Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, BTC, XRB

This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Latest cryptocurrency news

Picture: Shutterstock

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Coingeek Funds BCH Blockchain Development Training in the Philippines

Just recently it launched a £5Mn Bitcoin Cash tokenization contest, while at the same time revealing the funding of the privacy-centric BCH project Cash Shuffle, and the popular wallet client Electron Cash. Now Coingeek plans to fund the Stacklab blockchain training program in the Philippines as the …
Coingeek Funds BCH Blockchain Development Training in the Philippines
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On Thursday, April 19 the Calvin Ayre-owned blockchain and mining firm, Coingeek, announced it is contributing over $150,000 USD to help fund a blockchain developer training program in the Philippines. Coingeek believes the projects like these will help bolster the global, low-fee peer-to-peer digital currency known as bitcoin cash by improving the blockchain development community.

Also Read: Tax Time is Here and Lots of Cryptocurrency Holders Don’t Care

Coingeek Funds Another Project to Bolster Bitcoin Adoption

Coingeek Funds BCH Blockchain Development Training in the PhilippinesThe blockchain organization Coingeek owned by the billionaire Calvin Ayre has been funding a lot of research and development in regard to the Bitcoin blockchain (BCH). Just recently it launched a £5Mn Bitcoin Cash tokenization contest, while at the same time revealing the funding of the privacy-centric BCH project Cash Shuffle, and the popular wallet client Electron Cash. Now Coingeek plans to fund the Stacklab blockchain training program in the Philippines as the area is the second largest IT outsourcing region worldwide.

“[It is] important to train more developers to work in blockchain technology, because experienced blockchain developers are in short supply,” explains Coingeek.

A minimum of fifty developers will be trained on developments skills focusing on the Bitcoin BCH blockchain Trainees will be selected at a coding tournament using the world’s most unbiased programmer capability evaluation test, which was funded by the World Bank and is recognized by the Institute of Electrical and Electronics Engineers (IEEE).

Coingeek Funds BCH Blockchain Development Training in the Philippines

Trainees Will Focus on Coding the Bitcoin Cash Blockchain

Stacklabs (a Stacktrek Enterprise subsidiary) hopes to create next-generation development hubs in the Philippines. The first Stacklab training program with Coingeek will be held in the city of Iloilo. The London-based blockchain research and development company Nchain will also assist the Stacklab program curriculum and trainee projects.

“The training programs will be focused on coding on the Bitcoin BCH chain, the one true public blockchain,” Coingeek emphasizes during the announcement.

Coingeek also explains that only those who test in the top 2 through 11 percentile will make the cut for Stacklab’s Philippines project. After developers are chosen they will take a six-month training program, and Stacklab will help the trainee find an employment position in the blockchain workforce. The hope is to “transform developing cities” like Iloilo and turn them into technology centers.

What do you think about Coingeek funding a blockchain training program in order to help promote bitcoin cash development? Let us know your thoughts in the comments below.


Images via Shutterstock, Bitcoin Cash logos, and Coingeek.


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