THELOGICALINDIAN - The Bitcoin Cash BCH halving arrives in almost 161 canicule a hardly beneath appellation than Bitcoins halving date Dan Held from Kraken expects the accident to spell doom for the BCH network
Bitcoin Cash Halving Arrives Ahead of Schedule
While the halving is apparent as a aeon of favorable amount activity for BTC. However in the case of Bitcoin Cash, the anticipation is that the halving will be a disaster. So far, the BCH arrangement has no actual almanac of activity through halvings, so the amount activity of BTC may not apply.
Dan Held, the Director of Business Development at Kraken exchange, commented on the halving application the abhorred “bcash” moniker.
As it is apparent from the almost beforehand halving schedule, the Bitcoin Cash arrangement has apparent periods of “strip-mining”, in which Bitcoin miners switched to the arrangement and affective the rewards with greater ease. A agnate affair may appear afterwards the halving, in case the accepted miners for BCH accord up on the network. The mining and the bargain block rewards would be easier to grab for the owners of fast SHA-256 ASIC miners, and would be a advantage for bargain BTC rewards.
Litecoin’s Halving May be a Warning
If added bill are to be taken as a lesson, the Litecoin (LTC) halving is one of them. The bread was absorbed a few months afore the event, accomplishing a cogent assemblage from lows of $22 to aloft $140. But about a ages afore the event, the amount started dropping, biconcave to amid $50 and $60.
Additionally, miners alone the network. The Litecoin hashrate fell from a aiguille about 500 TH/s to about 200 TH/s. Investing in the L3 machines with a bargain block accolade of 12.5 LTC is not adorable to miners. Subsequently, the arrangement is abundant beneath defended now than afore the halving event.
But in the case of Litecoin, there are not too abounding L3 owners accommodating to booty over the network. In the case of Bitcoin Cash, it is accessible that alike a atom of the Bitcoin mining ability could about-face to Bitcoin Cash and accomplish a 51% attack.
Even at 2.6 quintillion hashes per second, and with Bitmain’s support, the Bitcoin Cash arrangement is attackable. But if the halving disperses miners, the crisis will be added significant. For now, miners are behaving as honest actors.
BCH traded at $286.29, ascent added than 23% in a distinct week. Bitcoin Cash has a abstracted bazaar with added than $400 actor in inflows from Tether (USDT), alms absolute amount discovery. Trading volumes best up to about three-month highs at $3.8 billion in 24 hours.
What do you anticipate about the Bitcoin Cash halving? Share your thoughts in the comments area below!
Images via Shutterstock, Twitter @DanHedl
