Even though the cryptocurrency exchange had already credited BCH SV tokens to its clients, it has raised several "perceived risks" that include that there isn't a single wallet yet that supports replay protection, a method that prevents a single transaction from occurring on both Bitcoin Cash blockchains simultaneously. Bitcoin Cash's total supply is 17,456,800 coins. If you're interested in seeing the true original power of Bitcoin, we recommend you to join the bComm Association and to also come to the CoinGeek Week conference from November 28-30 (with a special advance Miner's Day on November 27), the ideal venue to meet the thought leaders and discuss the implications of the world's first Bitcoin Hash War fought according to Nakamoto Consensus. Its split is created to entirely overwrite the network scripts of Bitcoin ABC and increase the block size of Bitcoin Cash from 32MB to a maximum of 128MB, all of which are expected to increase network capacity and scale.
"The bitcoin cash hard fork is proving far more destabilising than initially thought as numerous competing factions muddy the landscape", Oanda Corp's head of trading for Asia-Pacific, Mr Stephen Innes, said in a note. In order to fund this costly war, the miners need to liquidate their Bitcoin to provide working capital to cover the marginal cost of the production of the two new coins.
However, according to Lee, a price recovery is possible. The official website for Bitcoin Cash is www.bitcoincash.org.
"With big mining operations on low electricity costs running at anywhere between 50-60 percent gross profit from Bitcoin revenues, the market has a lot of room left to grow and, profits to squeeze. It may not have direct impact on price, but it's something people are concerned about - there is a fear that miners might be diverting mining power away from bitcoin into bitcoin cash".
Przelozny added that "most, if not all, exchanges aren't allowing deposits and withdrawals in Bitcoin Cash" right now.
"That's mainly because during a fork, the blockchain is very unstable". Also, it seems that more positive impact might arrive as institutional investors are likely to get more into cryptocurrencies, following the launch of the Microsoft, Starbucks, ICE-backed Bakkt and Fidelity.
Trading volumes have gone up "about 200% since the start of the BCH hard fork", Przelozny said.
Namecoin (NMC) traded down 1.4% against the dollar and now trades at $0.56 or 0.00008810 BTC.
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