Bitcoin Cash Hard fork and Review Bitmain in USA

hello welcome to crypto Mountain I'm your host Shane Ripley and today we're gonna do a coin review on Bitcoin cash talk about the white paper talk about the hard fork coming up and spend a little time on that we'll do a quick look at some of the top capital market big big guys in the crypto world and we'll take a look at bid bit main coming to the United States so with that we'll give our little disclaimer I'm not a financial advisor I don't give advice of any kind I just share news and share what I'm doing and help hopefully can help in your pathway we have only been doing our videos and podcasts for a little over two weeks and we've already got literally hundreds of views we have over I believe 80 views on our sky khon review and a few of the others are pretty close to that so thanks a lot for those that been tuning in and for the subscribers thank you for that glad you appreciate our down-home style so with that we'll get right into it Bitcoin cash when I first got into Bitcoin you usually start your coin base account that's how most people start off and there you see you have a choice you have Bitcoin you have Bitcoin cash you have aetherium and you have light coin so everybody kind of comes into the to the ecosystem learning about those those kryptos but what is it you know sometimes I've read that Bitcoin cash is not part of Bitcoin that they've just tried to run away with it and and Mark it off of the name and that's true there's a lot of coins that have done that according to the white paper Bitcoin cash did did stem off of Bitcoin it is a fork of Bitcoin and have the white paper right here you can download that and it's similar to Bitcoin in ways proof-of-work for you know time stamping it's hash function is the SHA – 256 and it's a decentralized block reward excuse me so in the white page it says that Bitcoin cache is a cryptocurrency it was designed to be able to handle Bitcoin scalability problems it uses a segregated witness feature to increase Bitcoin transaction times eight times that of Bitcoin so that's how much many more times it is and then that change that came along was called a hard fork and that happened on August 1st of 2017 and that was when the cryptocurrency split in two is at work okay but that isn't the first time I mean that isn't the only time the state of goal the fork was to increase the number of transactions it's ledger can possess process rather by increasing the block size limit to meet megabytes coin desk said that those motivations might been what was behind the development to launch Bitcoin cash well obviously it is Segway it was usually was likely to activate and some users wanted to avoid the feature the likelihood that Segway to would not launch in 2017 those are just some of the things that they had in the problems of developing it the launch it caused there to be a need for the crypto wallets to be changed and then again on August 9th 2017 it became 30% more profitable to to mine on the Bitcoin chain so they both use the same proof-of-work alga miner algorithm so won't get into that too much cryptocurrency the acceptance and the name so Bitcoin cash has been very well accepted it's on the all the major exchanges it's on coinbase cracking shape-shift the the ticker that they use most of the time is BCH so everybody's probably familiar with that it can be kept on a crypto currency wallet you can use the same address over and over again but it's not recommended to do that because of privacy it can be kept on a ledger hard wallet keep K hard keep key hard wallet electron cash software wallet and the bitcoin dot-com software wallet and I'm sure there's probably more also the the trees are Ortez err it's trees Erhard wallet supports the bitcoin cash too so some of the supporters that support bitcoin cash investor Roger ver entrepreneur Calvin error developer Galvan Andrus Anderson entrepreneur Vic Vulcan vinge founder of yours dot org Ryan X Charles who switched to Bitcoin cash for micro payments after initially planning on using Bitcoin and open Bazaar integrated Bitcoin cash in February 2018 also if you've ever bought a ASIC minor you'll know that bit Maine only accepts Bitcoin cash as purchase currency I guess you could say for their miners and the power supplies and any of the products that they have so that's mostly what's on the white page there's a bunch of references noting that we need to go over right here an article dated 2018 you talk about Bitcoin cash getting ready to a block size to 32 megabytes so that would make it even four times bigger than what it was it was upgraded to eight megabytes so the heart Fork is coming it's going to be made of v and there is a little bit of you know pipe I guess around it that is going to allow Bitcoin cash to operate more like aetherium and they'll be what they call colored coins or smart contracts that will be able to be utilized on this new platform so that's if everything works out all right course they'll probably you know they'll probably have to work out some bugs and stuff but the o P codes will allow for a simple smart contract like coding transactions and numerous use cases can be found at @ww your zorg content use cases for reenable dopey codes so there has been codes that have had controversy there's been once it have had problems and while the opie return could potentially allow for tokenization on Bitcoin cash this would increase its data carrier size to 220 bytes that would allow for a lot more functionality of tokens or coins running on top of Bitcoin cash as some have discussed in a proposal which you can find on the so that's kind of cool I've been looking at the Twitter I don't see anything about them talking about doing extra coins but they definitely are going to open up for smart contracts and things of this sort so who knows what's what's down the several articles have been written saying that this new format will allow it to be much more like the etherium platform where other tokens can run on it we'll see we'll see I think that's probably where the excitement would come the Deaf development team is a lot bigger they've tightening the code they're working on it and bch wants to move toward decodable money pair you know paradigm with a scalable blockchain that can incorporate tokenized things so rumor suggests that Gavin Anderson Anderson who is the developer very well known and Mike Hearn might be making a comeback and Jeff gars x might complete the dream team so we already ran a list of people that are that are involved with the company on the white page but that's another update another article on crypto daily it was dated on April 12th written by Nathan Bentley he mentioned that Eli Afram head of Bitcoin cash in Australia tweeted information and a confirmation that Bitcoin cash would run a second heart Fork in a month's time in order to comply to comply with their plans to improve scalability and smart contract integration this will see the block size increased to 32 megabytes which we've already talked about so here's some more confirmation coming from the company according to a a for him the heart Fork has been designed as an upgrade to ensure Bitcoin cash remains on an upward trajectory toward global utility the ultimate goal is real life adaptation Bitcoin cash aims to be the peer-to-peer electronic cash format after him and the team believed that the heart Fork is essential in assuring that Bitcoin cash can continue on the journey toward that goal so in anticipation we do expect to see the value of Bitcoin fluctuate and I believe those are still part of his his quote there that's gonna be starting on May 2:15 and so that's that's about it with Bitcoin cash you guys probably have heard me talk about Bitcoin cash I've been buying it the reason I buy it is not not because of this I wasn't really anticipating the hard fork or anything like that or any tokenization or any smart contracts but I have been saving in case I decide to buy some more stuff off of it mania by another miner or something like that but I've been holding back and we'll talk about bit Maine in a minute first let's just take a quick look at the top ten as you know the market has been improving the capital market capitalization we've got Bitcoin on top it's up in over eight thousand dollars up 2.2 percent today theorem is up three percent we've got five hundred six dollars for etherium ripple is down 0.2 – excuse me Bitcoin cash is up 0.77% it's looking at seven hundred and forty five dollars per coin litecoin is up one point three EOS is up one point cardano's up one point two Stellar's up 2.8 Neil's up almost three percent iota is up six point nine Minh arrows up two point and at eleven highest Tron is number fourteen lot of people like Tron Tron is up again two point nine and going coming in at about four cents just over four cents let's take a look real quick look at the winners and losers before we go talk about bit mean coming to the United States of America and what that would mean big up is up eighty percent at number one XP a is up 57% xpa Wow you know what I think I have some of that I got to go check let's see if there's anybody else Oh up token is up 32% coming in at number 7 highest gainer if there's any other ones here that catch my eye I'm not seeing too much and biggest losers let's see if anybody here is catching our eye on the biggest loser Gollum actually lost 13 percent that's coming in at the number 15th biggest loser so let's go right into the bit main comes to the United States so this article is written on coin desk was written yesterday on the 13th and it's Anna Anna Vissi Milano Elena him the glasses here can we hardly read it mi la you know I'm not very good with names unfortunately China's crypto mining giant bit Maine is one step closer to establishing mining facilities in Washington state here in the United States just above organ in California here the Port of Walla Walla Walla Walla County Economic Development Agency approved a land lease and a purchase option that would allow bit Maine to build its new crypto mining facility the companies ant Creek subsidiary will be able to lease 10 acres with an option to purchase after one year however the initial lease for an additional 30 acre purchase was removed from the agreement ant Creek still has to agree to the terms looks like bit-bit Maine is going to pay four thousand seven hundred dollars a month in rent bit Maine has yet to publish publicly acknowledged the company as a subsidiary but the publicly available company registration information list bit can't be bit Maine CEO jehanne whoo as ant Creek sole governing person as previously reported so apparently they're looking to do some mining here they did identify this ant Creek company as being a company with the largest global manufacturer of crypto mining equipment so yeah it's bit me wall of all the residents were you know complaining saying that they're going to use too much electricity from the community which has the cheapest electricity in North America it extracts electricity to create wealth for the owner would no trickle-down said local resident Rob Lincoln according to the Union bulletin the hearing was reported tense and one resident was accorded out of the hearing during the public comment another community member criticized cryptocurrency more generally it's not a legitimate business peter feather feather him told the post commissioner it's used for two things transactions you want to hide from the law and speculation wow you can see how you know the negative false news that's out there can spread so quickly you know when we all know the biggest thing used to to trade drugs and and fund terrorism is u.s. dollars i mean look at when sodom Hussein was captured they found you know he had tens of thousands of US dollars he didn't have his own money there well it's kind of funny so anyway people buy into that you know elsewhere in Washington state officials announced the memorandum on the crypto mining operators in order to consider the effect on the communities power grid and so they're still looking it over and also Canada was considering service applications from mining companies due to the overwhelming demand so what that what will that mean for us here in the United States probably not much I mean I can't see that they would hire very many people unless they were going to use that as a center to distribute miners maybe we'd be able to get miners quicker if you ordered miners I don't know pure speculation so with that folks I just want to thank you for tuning in and if you could subscribe we'd appreciate it I'll try to get some of the social media posted up there so you can join in on on our Twitter and Facebook and we're on a bunch of different social sites so I'll put a few of those out there and with that thank you for tuning in to Mountain crypto this is your host shane Ripley over and out

8 thoughts on “Bitcoin Cash Hard fork and Review Bitmain in USA”

  1. Ryan x charles is and rick falkvinige is the founder of the pirate party. last of all BCH dosnt have segwit. one of the many reasons we hard forked because segwit is bad.

  2. Good video brother! Your video reminds me back in 2011 when people didn't need to talk about lambos but just putting two cents out there. And BCH follow the white paper pretty much to the T, it's breaks my hart the see the road BTC has gone.

  3. Thanks TAO Jones. And it’s going up good today,At least when I checked earlier thanks again

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