Bitcoin Global News (BGN)
March 22, 2018 -- ADVFN Crypto NewsWire -- Bitcoin Cash (BCH), the fourth-biggest
cryptocurrency with a market cap of $17 billion, is back above the
$1,000 per coin threshold, regaining a lot of the ground that it
lost during the recent crypto markets crash. Bitcoin Cash started
as an August 2017 bitcoin fork that enabled lower transaction fees
compared to the fork carrying the original Bitcoin BTC
blockchain.
Cryptocurrency enthusiasts tend to either love or hate Bitcoin
Cash. The social media debate between Bitcoin supporters and
Bitcoin Cash supporters often devolves into name-calling,
hyperbole, accusations of fraud, and the insistence that one or the
other is the "true bitcoin" envisioned by Satoshi Nakamoto. Bitcoin
and Bitcoin Cash each have more than their fair share of bullish
supporters and harsh critics.
BCH network fees have been dropping as Bitcoin Cash gains
widespread acceptance as a “same as cash” payment with merchants
around the world. Bitpay recently launched BCH integration for its
smartphone VISA debit card. Thousands of merchants and nonprofits
now accept Bitpay-enabled Bitcoin Cash payments. Bitpay merchants
include Apmex, eGifter, Gyft, Heifer International, JM Bullion,
Microsoft, Namecheap, Newegg, Vodi, Vultr, Wefunder, and Zeek.
Bitpay nonprofits and charities include Save the Children, the
Electronic Frontier Foundation, the Internet Archive, and
Wikipedia.
Adding to the good news for Bitcoin Cash is Bitpay’s partnership
with South Korean exchange Bithumb, part of a low-transaction-fee
cross-border BCH payment solution for South Korean businesses. The
1-2% savings on each invoice can lead to dramatic cost savings for
South Korean companies that are sometimes receiving or sending
millions of USD per invoice. Coinbase also recently integrated BCH
support with its new merchant plugin.
Good news for Bitcoin Cash, such as the two news items mentioned
above, always seems to be counterbalanced by bad news, whether it
be on national or social media. On Monday, Canadian Bitcoin
entrepreneur Jonathan Hamel told the Canadian Parliament in a
hearing that, “Pay close attention, other cryptocurrencies are
downright scams, like BCash." Hamel posted on Reddit, prior to
giving the testimony in Ottawa, “Spoiler: I'm gonna say ‘Bcash is a
scam’ and it's gonna be archived forever in the Parliamentary
records (not a blockchain but still...) Donations are welcome,”
followed by his wallet address.
The request for donations was widely interpreted as a joke,
though many in the cryptocurrency community were not amused. This
comment is representative of the many disapproving comments on
Reddit: “Asking for donations for a statement you made while at a
government hearing is kinda undermining the expertise of your whole
talk, in the eyes of the listeners and media…I appreciate
straightforwardness but asking for donations on a public forum for
a statement made on a governmental hearing is really not smart at
all.”
By: BGN Editorial Staff