Bitcoin Eyes Highs as Fork Approaches

Ethereum miners are renting Boeing 747s to ship graphics cards and AMD shares are soaring

A new Bitcoin token, Bitcoin Cash (BCC), may come into existence on August 1 as a result of a User Activated Hard Fork (UAHF), opening the way for potentially two competing blockchains.

Bitcoin Cash will operate along the same lines as the original bitcoin, complete with the same blockchain.

Last week, the group behind Bitcoin Cash (BCC) said, "On August 1st, 2017, We the People will breathe new life into Bitcoin".

After that the compromise calls for the size permitted for each block to be increased from one to two megabytes in November, a step backed by miners. But Bitcoin Cash's spinoff won't disrupt the entire currency in the same way that SegWit 2X would have, so for now, experts are optimistic.

Karen pledged to credit clients with Bitcoin cash equal to their current holdings of bitcoin. I know there is one backup in a Mac that doesn't turn on, and another back up on a couple of USB thumbdrives.

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Looking at the value of Bitcoin at the time of the report and its moves in lead up to today, it would be hard to imagine that there is a major fork event about to take place, with Bitcoin recovering from sub-$2,000 levels seen in mid-July. "We have no plans to support the bitcoin cash fork". "There are many misconceptions about Bitcoin Cash and what it represents".

Bitcoin rival ethereum ran into volatility at the start of the week, falling further below $200.00. One group wants to stay the course and essentially make Bitcoin only usable for high-value transactions, while another is in favor of splitting the currency's value into multiple "forks" and handling the growth through different processes.

After years of infighting, the bitcoin community finally agreed on a solution to scale bitcoin so that transactions on the network can be faster and cheaper. Bitcoin lacks an effective governance model to resolve contentious issues, and this is clearly deterring technological progress. In addition to increasing block capacity, SegWit2x allows for the implementation of so-called "second-layer solutions" such as the Lightning Network.

At the time of publishing, bitcoin is trading at $2,870 and is up almost seven percent over a seven day period, according to CoinMarketCap. Just like Bitcoin (BTC), Bitcoin Cash is a peer-to-peer, decentralized electronic cash for the internet.

Strong, two way replay protection has been implemented with the introduction of a new SIGHASH_FORKID flag to Bitcoin Cash, which is invalid within Bitcoin (as so will be rejected) but required by miners processing transactions on Bitcoin Cash.

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The bitcoin network is limited in how quickly it can shuffle around digital money. With no substantial enhancements compared with Bitcoin, Bitcoin Cash is unlikely to be integrated into those same services, given the substantial expense for businesses operating them to do so.

ZenCash co-founder Rob Viglione is more optimistic: "T$3 here are pros and cons to everything".

"We believe that freedom of choice is one of the cornerstones of cryptoworld".

"Still, there are pros and cons to everything".

The split of the bitcoin blockchain has begun. "That said, this isn't a zero-sum game and it's more than possible to see both chains flourish in parallel".

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Theron's Lorraine is always impeccably dressed, and she walks through the streets like a shark cuts through the water. She also has to uncover the identity of a double agent whose been feeding British intelligence to the Soviets.

Karen, the largest Bitcoin exchange, announced its support for Bitcoin Cash Thursday.

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