Značka: BCH

Programmer spends 69 nights in 'Bitcoin Cash City' using only BCH: Here's how it went

When programmer Jonathan Silverblood flew to Townsville, Australia from his Finland home for a two-and-a-half-month holiday in August, he had one main task — pay for everything he could using Bitcoin Cash (BCH).The coastal city of Townsville is known as the “Bitcoin Cash City,” a name derived from a conference of the same name that first launched in 2019. It is understood to have a strong number of merchants that accept the Bitcoin-forked token.Silverblood said while attending the conference in 2019, he was intrigued by the number of merchants and vendors offering BCH as a payment option in Townsville and had planned a return to the city once COVID-19 restrictions were lifted. I have now been in #Townsville, the #BitcoinCashCity for for 59 days and I have made 97 bitcoin cash transactions to pay for living. That does not include the transactions that the rest of my family have done, and the transactions when I’ve been a guest and someone else paid…— Jonathan Silverblood (@monsterbitar) October 8, 2022″Going to this destination was entirely about using BCH and was also kind of an excuse to spend more than I usually do, while simultaneously getting more work done by letting family and kids have a vacation with their grandma,” he told Cointelegraph after he returned home from the trip. “Using it to pay for things while I was there just made sense, partially because I already have my income paid in BCH, and partially because it’s just so much less effort than some of the other forms of payment I use.” Silverblood is a Bitcoin Cash enthusiast and programmer. He has been working at General Protocols for the last three years where his salary is paid in BCH. He noted that in the 69 nights he spent in the city, he was ultimately able to conduct 130 transactions using Bitcoin Cash. These included goods and services at cafes, restaurants, and hotels, getting a tooth pulled at a dentist, a haircut, and getting a Steam Deck gaming console repaired. “Some days were pretty busy; we would buy breakfast, lunch, ice cream, bread and dinner, but sometimes my family wanted to go elsewhere rather than eat at the specific BCH accepting merchants.” Silverblood also made several payments using BCH that weren’t with businesses in Townsville, including Steam and Netflix gift cards, “plus a few bills back home.”However, his Bitcoin Cash-funded holiday was not without its hiccups. Silverblood says his experience using BCH as a payment method was successful but not “wildly successful” because of issues with payment terminals running out of power, WiFi access and some merchants being unable to offer crypto as an option at the time of payment. “When I got to the airport in Townsville I also wanted to pay for a cab ride to the hotel, but a competing cab company bought up the cab company that took BCH, so that was no longer an option.” He also found that not all merchants were open to the idea of using BCH because they did not want to “complicate bookkeeping” and “couldn’t stomach the volatility.””For most merchants I spoke with during my trip, it seems to just be that the number of customers paying with crypto is just too small to motivate additional staff education costs, additional hardware like WiFi and payment terminals,” Silverblood said. “Cryptocurrencies are here, and they work, but merchant adoption is slow and spread out, which makes it hard to live entirely off,” he added. Silverblood said he also didn’t end up buying his plane tickets with BCH, as his family wanted to fly Qatar Airways specifically, which doesn’t currently accept crypto as a payment method. This is despite the airline launching their own Metaverse in July.Related: 21-year-old got ‘thought-provoking’ questions after teaching crypto to old folksSilverblood and his family have since returned home to Finland, but the programmer is confident this won’t be the last time he will use crypto to pay for goods and services. “Can’t bitcoin the dentist, can’t bitcoin my breakfast, can’t even use bitcoin at bitcoin conventions”… I have now done all of those in the #BitcoinCashCity #Townsville. I am so going to miss this place when I fly home tomorrow.https://t.co/dj2l8TopEp— Jonathan Silverblood (@monsterbitar) October 18, 2022

“I will absolutely try and do something like this again, in just a few weeks, I’m flying over to another Bitcoin Cash hotspot, St Kitts, for the BCH 2022 conference,” he said. “I don’t know what to expect there though, I’ve heard everything from 100% all merchants accept it, only half do, and merchants will accept it, but you need a special wallet.”

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No flexing for Bitcoin Cash users as BCH loses 98% against Bitcoin

Bitcoin (BTC) has hit new record highs this week — not in U.S. dollar terms, but against its longtime competitor, Bitcoin Cash (BCH).Data from Cointelegraph Markets Pro and TradingView confirms that on June 29, BCH/BTC officially set its lowest ever price.CoinFLEX debacle ensnares BCH supporter VerBitcoin Cash, also known as “Bcash” by those critical of the coin’s ethos and future, gained notoriety in 2017 when it became the first major hard fork of the Bitcoin network to take on BTC itself.Months after launching, the altcoin hit highs of around 0.43 BTC per token, this proving something of a fakeout for investors who have spent the intervening period watching its value steadily decline.Arguably the most vocal BCH supporter, entrepreneur Roger Ver, has nonetheless continued to tout its supremacy over Bitcoin, with price woes having little impact on his rhetoric.This month, however, Ver courted controversy when reports emerged that he owed $47 million in stablecoin USD Coin (USDC) to crypto investment platform CoinFLEX.Ver denies the claims, with a social media storm ensuing which is ongoing this week. Regardless of the outcome, its impact on BCH has been palpable. On June 29, BCH/BTC fell to new all-time lows of just 0.005 — 98.83% below its 2017 peak.BCH/BTC 1-month candle chart (Binance). Source: TradingViewThe event was not lost on commentators, many of whom remembered Ver’s insistence that BCH would rise to replace BTC altogether.$BCH now lower than it was in the winter of 2018-2019.— Alex Krüger (@krugermacro) June 28, 2022How it started vs. How it’s going:(Roger Ver / BCH edition) pic.twitter.com/kNcRjsujhU— K A L E O (@CryptoKaleo) June 28, 2022

Even Bitcoin SV outperforms BCHFor another vehement anti-Bitcoin spin-off, the situation is barely any better.Related: Bitcoin’s bottom might not be in, but miners say it ‘has always made gains over any 4-year period’Bitcoin SV (BSV), the offspring of BCH which emerged during community infighting, hit all-time lows of its own against BTC in May.Since then, a modest rebound has occurred, taking BSV/BTC to 0.0016 BTC — a mere 94.48% below its all-time high of 0.029 BTC seen at the start of 2020.BSV/BTC 1-month candle chart (Binance). Source: TradingViewOn the plus side, BSV now buys more BCH than at any time since December of that year.BSV/BCH 1-week candle chart (Binance). Source: TradingViewThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Dogecoin Jesus? Roger Ver resurfaces on Twitter, backs DOGE over BTC

Roger Ver, an early investor and ardent promoter of Bitcoin (BTC) which earned him the moniker “Bitcoin Jesus” has resurfaced on Twitter after a year and backed Dogecoin (DOGE) in an interview, preferring it for payments over the world’s first crypto.In an interview with Bloomberg, the Bitcoin.com founder said how he was a fan of the memecoin due to its fast transaction times and low fees:“Dogecoin is significantly better, it’s cheaper and more reliable [than Bitcoin]. If I had to pick three contenders for the world’s dominant cryptocurrency, they would be Doge, Litecoin and Bitcoin Cash.”Ver also took time in the interview to voice his support for honorary Dogecoin CEO Elon Musk’s Twitter takeover.“It’ll certainly make Twitter more attractive,” said Ver. “I am really, really grateful that Musk is out there calling out censorship.”Although Ver was a proponent of Bitcoin for years, he now spends his days as a Bitcoin Cash (BCH) evangelist, the altcoin which forked from Bitcoin after a dispute over the block size.A video posted in March to Ver’s YouTube channel shows he and his entourage onboarding retail merchants and taxi drivers to use Bitcoin Cash as a preferred payment method in Saint-Martin.Ver says that Bitcoin Cash is the true vision of Bitcoin creator Satoshi Nakamoto, and despite all his advocacy for the crypto, he claims he isn’t all in on BCH:“I am definitely a cryptocurrency whale still, I’ve always had a wide assorted basket in cryptocurrency. I was never a Bitcoin or Bitcoin Cash maximalist.”Related: Roger Ver’s next life: Cryonics meets cryptoIn his return to Twitter, Ver wasted little time calling attention to crypto’s first principles, with his second tweet after his hiatus on April 28. He said that custodial wallets like those used by traders interacting with centralized exchanges would cause Bitcoin to lose a “key revolutionary property.”If regular people are all using custodial wallets, Bitcoin will have lost a key property that made it so revolutionary.— Roger Ver (@rogerkver) April 28, 2022Noncustodial wallets where the user retains control over the assets is something that allows Bitcoin to stand out from banks and other financial products. [embedded content]

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Little forkers: BCH and BSV get crushed by Bitcoin price in 2021

Bitcoin (BTC) looks set to beat its forked versions Bitcoin Cash (BCH) and Bitcoin SV (BSV) in terms of price-performance in 2021, market data shows.Notably, BTC’s year-to-date (YTD) returns sat near 60% at press time as its price wobbled near $47,500. In comparison, BCH rallied a little over 26% to $435.50, while the BSV price plunged over 25% to $122.30 in the same period.But the biggest takeaway remained the performance of Bitcoin Cash and Bitcoin SV against Bitcoin. In detail, the BCH/BTC rate declined over 22.50% YTD to 0.00916. Meanwhile, BSV/BTC dipped by nearly 55% YTD to 0.00258 BTC, signaling capital rotations out of Bitcoin forks.BCH/BTC and BSV/BTC daily candle price chart. Source: TradingViewMarket dominanceAdditionally, forked Bitcoin tokens — once counted among the top-ten cryptos by market capitalization — lost their positions to the emerging layer-one blockchain projects. Notably, the arrival of Solana (SOL), Cardano (ADA), Terra (LUNA), Avalanche (AVAX), and other protocols opened more avenues for crypto traders to park their money. On the other hand, Bitcoin Cash’s and Bitcoin SV’s main selling point remained claims of greater scalability, which didn’t gain traction with investors as Bitcoin’s transaction fees fell by over 50% this year. Performance of top 25 crypto assets as of Dec. 30, 1330 UTC. Source: MessariThat resulted in a decline in the market dominance of both Bitcoin Cash and Bitcoin SV. While the BCH’s share in the entire crypto market slipped to 0.37% from 0.84% at the beginning of this year, the BSV’s market portion also declined to 0.10% from 0.40% in the same period.Bitcoin, whose market dominance also slipped from 70% to under 40%, performed better than Bitcoin Cash and Bitcoin SV, nonetheless. That is primarily because of its rising adoption among retail and institutional investors as they searched for safe-havens against the central banks’ inflation-friendly loose monetary policies.Inflation keeps rising, debt keeps rising, interest rates near zero, and in some countries negative…Yeah, feels good to be a #bitcoin holder!— Lark Davis (@TheCryptoLark) December 19, 2021Abysmal development dataBitcoin also excelled over BCH and BSV based on developers’ activity.Data fetched by CryptoMiso.com showed that Bitcoin approved 2,937 changes suggested by over 100 contributors to its source code this year, the seventh-largest number of commits recorded on GitHub. In comparison, Bitcoin Cash and Bitcoin SV processed 1,099 and 496 commits in the same period.Bitcoin Cash and Bitcoin SV commits in 2021. Source: CryptoMisoA higher number of commits shows that more developers want to improve the open-source project in concern. Conversely, a lower count alerts about a slower rate of improvements on the protocol. In the end, Bitcoin SV turned out to be the worst-performer than Bitcoin Cash in terms of price-performance, as well as market dominance and developers activity. Investors also kept their distance as the Bitcoin SV network suffered three 51% attacks and its co-founder Craig Wright remained embroiled in a lawsuit, as Cointelegraph covered earlier.Now, BSV price may face more losses ahead should it break below a long-withstanding support level near $121.50, as shown in the chart below.BSV/USD weekly price chart. Source: TradingViewConversely, a pullback from the $121.50-support could have the BSV price test its 50-week exponential moving average (currently near $167) as the next upside target.Related: Top crypto winners and losers of 2021Likewise, the BCH price’s latest decline has brought it near its multi-year ascending trendline support. Therefore, a pullback from the said level could have the Bitcoin Cash token eye approximately $600 as its next upside target, as shown via Fibonacci levels below.BCH/USD weekly price chart. Source: TradingViewOtherwise, breaking below the long-term support level risks puts the BCH price en route to near $195, a level with a history of sending prices higher.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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