Bcash Burning

in #bitcoincash5 years ago


Bitmain wants to burn 12% of the coins and ask all other miners to do the same.
Bitmain explain to help the economy they decided to take this move, I am not sure this is good the economy but it will maybe elevate the value unless...
By reducing the supply, the price will increase unless people won't like this move and will choose another cryptocurrency?

In my eyes Bitmain decided to take this steps because they didn't gain as much as last year, regarding the miners, Monero and Ethereum choose to change the encryption to don;t let the ASIC market drive the currencies enabling it to be equal for richest or poorest people, last year D3 was sold at $1600 today $350.
According to current data from Blockchain.info, Bitmain’s Antpool and BTC.com mining pools make up just over 40% of the computing power on the network of servers that maintain and secure Bitcoin’s distributed transaction ledger, or blockchain.

Bitcoin mining hardware and runs its own mining operations, made $3 billion to $4 billion in profits in 2017, according to estimates by Bernstein Research.
The operators of those servers are intermittently rewarded in cryptocurrency, though Bitmain doesn’t collect all of those proceeds.and don't forget Bitcoin’s price has declined by around half since its December peak, and the highly volatile nature of the nascent cryptocurrency sector means Bitmain’s continued profits and dominance are far from guaranteed.
In the meanwhile, Bitmain is opening new mining factories in the USA etc...
BCH is centralised as well as BTC, but the code is done by voting like the NY agreements.
At least Bitcoin holders hopefully won't get any surprising news as its co-brother.

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