The real reason for today’s crazy bitcoin prices diving

The real reason for today’s crazy bitcoin prices diving

Wednesday (October 25th), the bitcoin is two times of bifurcation in block chain, the bitcoin after bifurcation will create a new currency and gold – bit derivatives (bitcoingold). Affected by this, as of October 25th Beijing time 13:26, bitcoin prices fell 3.6%, the highest reach $5767 days.

The famous bitcoin bitcoin developer JimmySong said: “gold is the ideological crystallization of lightning ASIC JackLiao founder, is also a product of bitcoin two bifurcation. Bitcoin gold is intended to let users can reuse the central processor (CPU) and graphics processor (GPU) to dig bitcoin.”

Bitcoin two bifurcation

 

In addition, also caused the phenomenon of bifurcation bitcoin bitcoin mining monopoly concerns. Bitcoin gold supporters believe that the integrated circuit reverse the encryption currency (ASIC) will disperse the bitcoin network power, thereby reducing the possibility of bitcoin mining monopoly.

Coinbase bitcoin trading platform business crypto currency WALLET business in an article pointed out that at present, Coinbase trading platform does not support bitcoin gold, because the platform developers are not open to the public code.

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