Fraud protection is built into the system with no cost to the merchant. As all of you are well aware there is a new currency in the game by the name of Bitcoin Cash. To decide this bout, even quicker than the McGregor-Mayweather Fight, I turned to the Bitcoin Cash website at And the winner is BCC by knockout, or at least it seemed to me.
2.6 million BCC were planned to come from mining, while the remainder would be added as a result of PoS staking activities from network participants. Many miners dropped support for Bitcoin Cash and, at times, over 12 hours have passed between the mining of blocks. Your receiving platform may require three confirmations. Despite many of the Bitcoin Cash platforms trading the currency, not all of those platforms allow you to deposit or withdraw BCH tokens yet. The percent change in trading volume for this asset compared to 7 days ago.
A growing number of patrons are choosing Bitcoin Cash as a preferred payment method. They favor merchants who offer this payment option and actively seek them out. Unlike credit cards, there are never any automatic voids, refunds, chargebacks, or other unexpected fees.
They are the same Altcoins but not the same commodity in which BCC represent Bitconnect and BCH represent Bitcoin cash. In most exchanges, BCC and BCH are the same, which is bitcoin cash, but there are some other altcoin names called BCC. Depend on the exchange, in Bittrex, BCC is bitcoin cash but in the other ones, BCH is bitcoin cash. BCC is actually the shortcut of ponzi Bitconnect. They wanted to separate it from each other to avoid confusion. BCC was a proof-of-stake cryptocurrency token with a notional maximum supply of 28 million BCC.
Multiple implementations also provides redundancy to ensure that the network retains 100% uptime. The Bitcoin Cash protocol ensures there will never be more than 21 million coins in existence. Governments constantly print money out of thin air, endlessly inflating the supply and devaluing everyone’s savings. Bitcoin Cash has a fixed supply and therefore represents sound money. The seizing of capital from account holders (“bail-ins”) that occurred in Cyprus and nearly in Greece, demonstrated that bank deposits are only as safe as political leaders decide. Even under the best of conditions, banks can make mistakes, hold funds, freeze accounts, and otherwise prevent you from accessing your own money.
The History of Bitcoin Cash
To learn about Bitcoin and legitimate cryptocurrencies, check out CoinMarketCap’s easy guide to buying Bitcoin. Carlos Matos, perhaps the best-known figure related to BitConnect, was not part of its development and merely engaged in PR activities on others’ behalf. Matos has since stated he was unaware BitConnect was a ponzi scheme and that he also lost money — a total of $25,610 — as a result of investing in it.
Additionally, most sending platforms don’t have systems to automatically send the tokens and may only do so in batches during business days. With Bitcoin Cash, you can send money to anyone, anywhere in the world, 24 hours a day, 365 days a year. Like the Internet itself, the network is always on. And you never need anyone’s permission or approval.
- Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources.
- Bitconnect is proyek investment and is a pyramid scheme to invest there.
- Or must I research a new issue at every turn on the web today, especially in the crypto space.
- You will need to send the BCH to Bitmain (don’t send it to a BTC address on Luno, the funds will be lost, the two blockchains are incompatible).
- Interestingly, while I was enjoying a little BE-SURE-AND-BUY-ON-THE-DIP MANIA, I noticed something peculiar, and I’m wondering is it just me?
- It seems they were unaware of Bitconnect ; one of the scam coins out there.
Thereafter, legal problems with BitConnect saw its organizers exit the scheme, leaving investors with nothing and the value of BCC at virtually zero, where it has remained ever since. Its tenure lasted almost two years, during https://coinbreakingnews.info/ which it hit all-time highs of $471 in December 2017, at the same time as Bitcoin’s run to just under $20,000. You can make deposits from any South African bank to Luno and make withdrawals from Luno to any South African bank.
Both are the same in the sense of they are just money sucking coins,ponzi schemes in a simple explanation. In reality, BitConnect’s unique selling point did not exist, as under the hood, its foundation was that of any other pyramid scheme. An investor would provide Bitcoin on the premise that interest would be worth the trouble almost immediately, and earn dividends by signing other users up in addition to sky-high payouts. Since we will be trading Bitcoin Cash for Bitcoin , most platforms won’t require lengthy ID-verification processes. In this case, we’ll just need an email address and a unique password (and two-factor authentication if we’re going to leave the Bitcoin on the new platform).
IS IT BCC OR BCH OR WHAT?
Customer bitcoin cash will remain safely stored on Coinbase. Sign up for a free GitHub account to open an issue and contact its maintainers and the community. Bitconnect is proyek investment and is a pyramid scheme to invest there. Learn more about how you can collaborate with us. At its height, BitConnect’s market cap was $2.5 billion, with estimates varying as to how much its founders gained when it shut down soon afterwards. Launched in February 2016, shortly after the project itself, BCC aimed to function as the means by which participants in the BitConnect scheme invested and received payouts.
- Bitcoin Cash used to be under the ticker of BCC in many exchanges but BCH is more commonly used for it.
- Launched in February 2016, shortly after the project itself, BCC aimed to function as the means by which participants in the BitConnect scheme invested and received payouts.
- So now the righ ticker for Bitcoin Cash is BCH, but some exchanges still use BCC because they listed it like that before and for some reason didn’t change it to the correct one yet.
- 2.6 million BCC were planned to come from mining, while the remainder would be added as a result of PoS staking activities from network participants.
- Completing the CAPTCHA proves to us that you’re a human and gives you access to our platform.
As mentioned before, do your homework and see which Bitcoin Cash marketsoffer the best exchange rate. That said, this “instant sell” feature in Luno is the easiest, by far. For every Bitcoin, in theory, there may now one Bitcoin Cash, but the long term prospects and viability of the new currency seems rather pointless and dull. Storing and managing tokens on a blockchain provides greater transparency and integrity than traditional forms of asset accounting and trading. Bitcoin Cash supports token protocols that power a variety of projects, and it is easy to create your own token backed projects. It’s not all that difficult to create or fork into existence a newer digital currency.
Wow, Bitcoin Cash recently had one amazing bull run — and I personally still think the best is yet to come. Not to toot my horn, but I was running with those bulls, and even picked up some more Bitcoin Cash today when it dipped under $6, just getting ready to run one more time. Interestingly, while I was enjoying a little BE-SURE-AND-BUY-ON-THE-DIP MANIA, I noticed something peculiar, and I’m wondering is it just me? Or must I research a new issue at every turn on the web today, especially in the crypto space. It is the same for both BCC and BCH, both means Bitcoin Cash which is the fork of bitcoin. It can be a bit confusing for new folk, sometimes when new coins are created their creator fails to check if there is already a coin there using the same label, most exchanges will be using BCH.
- The bitcoincashresearch.org website is a good venue for making proposals for changes that require coordination across development teams.
- For every Bitcoin, in theory, there may now one Bitcoin Cash, but the long term prospects and viability of the new currency seems rather pointless and dull.
- Have a look at the order book to get an idea of what the market of buyers and sellers looks like in the bids and asks.
PCMag.com is a leading authority on technology, delivering lab-based, independent reviews of the latest products and services. Our expert industry analysis and practical solutions help you make better buying decisions and get more from technology. The percentage of Binance customers who increased or decreased their net position in BTC over the past 24 hours through trading. During system update, trading would be suspended in OKX website, App and API. The time would be postponed depends on situation.
TheTrade Is a Game-Changer in the Uniswap V3 Market of 2023
Yes they’re the same in a lot of places but also some places BCC is bitconnect instead of bitcoincash. If you see BCH you can be sure it’s bitcoin cash, if you see BCC you should make sure to check. They are different coins but being called the same,ponzi schemes which is true if you dig a little deep about these coins. BCC is more frequently used for bit-connect which is a ponzi/pyramid scheme that happens to be using a cryptocurrency. You should pay extra attention to that if you are looking to sell. Bitcoin Cash used to be under the ticker of BCC in many exchanges but BCH is more commonly used for it.
Please also note that data relating to the above-mentioned cryptocurrency presented here are based on third party sources. They are presented to you on an “as is” basis and for informational purposes only, without representation or warranty of any kind. Links best free unlimited vpn windows 10 provided to third-party sites are also not under Binance’s control. Binance is not responsible for the reliability and accuracy of such third-party sites and their contents. The total dollar value of all transactions for this asset over the past 24 hours.
Quick question, My BCC was sold on Bittrex and looks like it was converted into USDT. Right now, you will only be able to use Bitcoin cash on Luno if you had Bitcoin before the BCH fork. If you did, you would have received an equal amount of BCH as BTC you held before the fork . Alternatively, you can download a Bitcoin Cash wallet (I can’t make any recommendations) and use Changelly to buy the Bitcoin Cash (with your Luno-bought Bitcoin). Formerly Business Development and Marketing at Luno and before that Marketing at PayFast.
The exchange rate had fallen to its lowest value. Binance has the lowest transaction fee rate amongst all major trading platforms. The bitcoincashresearch.org website is a good venue for making proposals for changes that require coordination across development teams. For those wishing to implement changes to the Bitcoin Cash protocol, it is recommended to seek early peer-review and engage collaboratively with other developers. On August 1st, 2017, we took the logical step of increasing the maximum block size, and Bitcoin Cash was born. Anyone who held Bitcoin at that time became an owner of Bitcoin Cash .
As with all ponzi schemes, the true identities of the founders of BitConnect and the developers of BCC remain shrouded in mystery. Since I don’t really want to monitor the market, I’ll just sell at the best bid and get it over and done with. Three Dash concept physical coins isolated on white background. Do consult your financial advisor before making any decisions. CurrencyConverterr will not be responsible for any trading decisions. At that time the currency had reached its highest value.