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Not dead yet: Bitcoin Cash ABC up 70% as Sechet releases new client

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Amaury Sechet’s Bitcoin ABC coin is up 70% today as the developer announced a new upgrade for the client software that includes stability-related fixes for both forks of the Bitcoin Cash client.

The new release breathes much-needed life into the Bitcoin ABC (BCHA) faction of Bitcoin Cash which was crushed by rival Bitcoin Cash Node (BCHN) in a briefly-lived hash war following the fork on November 15. This led to rumors about its impending demise.

According to CoinMarketCap, BCHA opened trading at $11.78. The coin is now trading with substantial volume on exchanges and has been as low as $10.50 and as high as $21 before settling back down in the $19-$20 range.

This represents a 70% increase over the last 24 hours and a boost in confidence that the coin will not be abandoned. However the BCHN version currently trades at $254.61, and is now listed as Bitcoin Cash or BCH on most exchanges.

Sechet also signaled positivity for the future of his creation on Twitter overnight, inferring that he would remain dedicated to the ABC community.

Losing its claim to the Bitcoin Cash name and BCH ticker, BCHA faces heavy crosswinds as a new coin in terms of gaining merchant and exchange support. In addition to these problems, only a handful of blocks have been added to the BCHA chain by miners since Nov 15, the date of the fork. The slowdown is the result of a lingering imbalance between an overly-high mining difficulty and a lack of hash power necessary to find blocks at said difficulty.

The most recent BCHA block, which took seven hours to find, contained over 14,000 transactions — a substantial uptick from the previous blocks’ count of 1,674. It also contained slightly over 0.9 BCHA in transaction fees, which is $19.40 at today’s prices. Per the new coinbase rules implemented by Bitcoin ABC, 8% of the newly-mined coins along with 8% of transaction fees went to the protocol development fund, which is a total of 0.57 BCHA, or $12.41. Although BCHA blocks are still not being found at a normal rate, this problem is expected to subside with BCHA’s next difficulty adjustment.

Unlike the political and personal drama that unfolded during the last Bitcoin Cash hard fork in 2018, BCHA’s “benevolent dictator” Sechet has been amicable in terms of acknowledging the will of the community and the likelihood of ABC’s defeat. On Nov 12, three days before the expected fork, Bitcoin ABC initiated the transfer of the bitcoincash.org domain to parties loyal to the majority Bitcoin Cash Node (BCHN) client implementation, in anticipation of not emerging victorious from the impending hash war.

Bitcoin ABC has also said that it will continue to support both BCHA and BCHN implementations of the Bitcoin Cash client after the fork in order to serve businesses who have adopted the coin as a method of payment.

Bitcoin Cash has faced an uphill battle raising funds for development. In August 2020, Bitcoin ABC launched 0.22.0 of their client, introducing the coinbase changes as an attempt to help ensure the continual availability of funds for developers of the protocol. The proposal has been mired in controversy from its introduction, with the development fund being regularly likened to a tax and shifting in proposed size from 15% to 5% to its current 8% over the course of the year.

Source: https://cointelegraph.com/news/not-dead-yet-bitcoin-cash-abc-up-70-as-sechet-releases-new-client

Blockchain

Real Estate Giant Teams up with Gemini to Buy Bitcoin and Allow BTC Rent Payments

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Caruso, one of the largest estate companies in the US, has entered the BTC space with an undisclosed investment. The organization also revealed it will begin accepting bitcoin as payment for rent following a partnership with Gemini – the cryptocurrency exchange founded by the Winklevoss twins.

Pay Rent with Bitcoin

Without specifying the precise amount, Caruso announced earlier that it had made a “significant initial investment” in the primary cryptocurrency as part of its treasury management strategy. The move has made the company “the first to adopt the technology in the real estate industry.”

The firm completed the purchase through a partnership with Gemini, a US-based cryptocurrency exchange and custodian. The innovation reinforced the company’s confidence in the digitizing space.

Additionally, the firm enabled its tenants to pay rent with bitcoin, should they choose to do so.

Rick Caruso, founder, and CEO of the company weighed in on the topic:


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”We believe that cryptocurrency is here to stay. We believe that bitcoin is the right investment for us. We’ve allocated a percentage of what would normally go into the capital market into bitcoin.”

The billionaire went further and stated crypto is a long-term resolution and ”it’s not about the next year or five years”.

”We are thrilled to partner with Caruso as they continue to push the real estate sector to new heights by embracing cryptocurrency for the benefit of both their customer experience and their own business operations. We are excited to help them execute their digital asset treasury strategy and advise them more broadly throughout their cryptocurrency journey.” – commented Gemini’s CEO Tyler Winklevoss.

The Los Angeles-based company has become a part of the growing institutional adoption of bitcoin around the globe. According to experts, companies like MicroStrategy, MassMutual, Tesla, and more are a vital factor behind BTC’s recent price increase.

Bitcoin as a Form of Payment

While Caruso may be the first firm from the real estate industry to adopt BTC as a payment method, companies from other sectors have well preceded it. Most recently, the popular NBA team Sacramento Kings said it will give the option to its players to receive their salaries in the primary cryptocurrency.

Another fresh example is the UK private jet company – PrivateFly. The organization revealed that nearly 20% of its yearly payments were paid in bitcoin.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/real-estate-giant-teams-up-with-gemini-to-buy-bitcoin-and-allow-btc-rent-payments/

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Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

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Binance Coin registered huge gains in the past few weeks. BitTorrent Token could consolidate before seeing recovery, while Ontology could face selling pressure if it falls out of the rising channel it was trading within.

Binance Coin [BNB]

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

Source: BNB/USDT on TradingView

From March 25 to April 10, at the time of writing, BNB has climbed from $225 to $473. Using the Fibonacci tool for its move from $225 to $356, where BNB had faced some resistance in early April, extension levels were plotted. These levels have been reached, and more ambitious targets for BNB lie in the $550 region.

It is not out of the question that BNB reaches these levels, especially with the BNB quarterly burning set for later this month. On the hourly, the RSI continued to stay above neutral 50 to show an uptrend in progress, and no divergence was seen. The Stochastic RSI was dropping toward oversold territory.

BitTorrent Token [BTT]

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

Source: BTT/USDT on TradingView

On the hourly chart, BTT broke out of a descending channel but was rejected at the $0.01 resistance level. Sometimes, breakouts from descending channel consolidate within a range before reaching toward the peak of the channel.

This could be what is happening for BTT. It has resistance at $0.01 and support at $0.0075. The breakout point at $0.0085 is also likely to serve as support.

Trading volume was trending downward. The Awesome Oscillator showed bearish pressure was present, although it was not strong.

Ontology [ONT]

Binance Coin, BitTorrent Token, Ontology Price Analysis: 10 April

Source: ONT/USDT on TradingView

ONT was also trading within a channel, but this one was ascending. Again, the short-term outlook placed ONT right beside a level of importance. There was resistance for ONT at the $2.05 level, and support from the lower boundary of the rising channel.

ONT began trading within this pattern about three days prior to the time of writing. A session close beneath the channel would likely see ONT face further selling pressure to take it to the base of the channel at $1.72. THE OBV has been on an uptrend in recent days but the MACD was beginning to drop.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/binance-coin-bittorrent-token-ontology-price-analysis-10-april

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IOTA co-founder discloses Coordicide’s release date

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The cryptocurrency market has seen the altcoins surge despite the correction witnessed in the short term. IOTA, the altcoin ranked 27th on CoinMarketCap, has grown dramatically on the charts right from the start of the month.

IOTA co-founder Dominik Schiener recently did one of his systematic AMA sessions. He elucidated some of the most important concepts about the development of IOTA and its updates, Chrysalis and Coordicide.

To begin with, Schiener answered a question about the challenges that IOTA 2.0 or Coordicide might face in its deployment process. One of the issues faced by the group of developers was to discover and fix bugs on major components.

The co-founder further shared his optimism on the progress in the AMA session.

“Coordicide will fully decentralize IOTA. On the theoretical side we are doing very well to deliver what is promised which is a fully decentralized IOTA. I think the biggest risk is the implementation.”

At this very moment, IOTA targetted Q4 of this year as a tentative date for Coordicide’s rollout. However, this depends largely on the results of the incentivized testnet, Schiener said:

“A lot of that will depend on how well the incentivized testnet goes, that’s why we always say that the incentivized test network is the most important part of Coordicide. That’s where the research combines with the implementation to test in an open environment.”

Furthermore, Schiener addressed concerns regarding data sharding. The Value Tangle team, just like the Coordicide team, reviewed all the “paths” and possible implementation of this component. Schiener stated:

“I think when it comes to sharding, if I had to sum it up, I think the biggest risk is going to be building a solution that is going to kill IOTA adoption. In a similar way of how they said the biggest risk to Ethereum is Ethereum 2.0.”

What’s interesting to note here, is the analogy with ETH and ETH 2.0. 

Keeping all the risks in mind, Schiener concluded:

“With that in mind, the team have received feedback from their corporate partners to create a solution that the market wants. In large part, Chrysalis will be the culmination of that feedback.”


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/iota-co-founder-discloses-coordicides-release-date

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