Capitulation Severity Lessens as Bitcoin and Ethereum Rally

• Bitcoin and Ethereum have seen a rally, which has lessened the severity of capitulation.
• Net Unrealized Profit/Loss (NUPL) is the difference between Relative Unrealized Profit and Relative Unrealized Loss which can be calculated by subtracting realized cap from the market cap and dividing the result by the market cap.
• Bear market bottoms occur when capitulation occurs, even when the strongest hands sell due to fear in the market and each bear market bottom has made a higher low, which shows the capitulation amongst holders becomes less severe.

As the price of Bitcoin and Ethereum continues to rise, the severity of capitulation amongst holders has lessened. Capitulation is a term used to describe a situation in which the strongest hands in the market sell due to fear and despair, and usually marks the bottom of a bear market. In 2021, multiple events, such as the Ukraine invasion, Luna, and FTX collapse, saw multiple capitulations amongst holders. However, when Bitcoin broke the $20,000 milestone in late 2021, the sentiment in the market suddenly shifted away from capitulation.

Net Unrealized Profit/Loss (NUPL) is a metric used to measure capitulation severity, and is calculated by subtracting realized cap from the market cap and dividing the result by the market cap. When NUPL is low, it indicates that holders are more likely to capitulate, and when NUPL is high, it indicates that holders are less likely to capitulate. As seen in the charts provided by Glassnode, when Bitcoin and Ethereum breached their respective all-time highs, NUPL was relatively low, indicating that holders were still fearful of capitulating. However, as the prices of both Bitcoin and Ethereum have continued to rally, the NUPL of both cryptocurrencies have risen, indicating that holders are less likely to capitulate.

In addition, the bear market bottoms over the past few cycles have made higher lows, which further indicates that capitulation amongst holders is becoming less severe. This is further evidence that despite the fear caused by events such as the Ukraine invasion, Luna, and FTX collapse, the sentiment in the market is slowly shifting away from capitulation and towards a more optimistic outlook.

It is important to note that while the severity of capitulation is decreasing, it is still an important factor to consider when making investing decisions. Although capitulation is becoming less severe, it is still possible for it to occur at any moment, and investors should remain aware of this possibility and adjust their strategies accordingly.

ConsenSys Layoffs: 11% of Workforce Affected, Generous Packages Offered

• ConsenSys CEO Joseph Lupin has announced layoffs of 11% of the firm’s workforce.
• Those affected will be given generous packages to assist with their transition, including severance packages, extended option exercise window, customized placement assistance, and healthcare benefits.
• The firm is focusing on scaling its core offerings and reducing operating expenses as part of its initiative to strengthen the product teams.

ConsenSys, a software technology company developing decentralized applications and various developer and end-user tools for the Ethereum blockchain, has announced major layoffs. The CEO of ConsenSys, Joseph Lupin, has confirmed in a letter that the firm will be letting go 11% of its workforce in an effort to refocus and adjust to the challenging and uncertain market conditions.

The CEO said that those affected by the layoffs will be provided with generous packages to assist them in their transition to a new job. This includes severance packages according to tenure, an extended option exercise window from 12 months to 36 months, customized placement assistance, and healthcare benefits in certain jurisdictions.

The main focus of the firm is to scale its core offerings and reduce operating expenses, in order to strengthen the product teams. In that regard, ConsenSys has recently announced the ConsenSys zkEVM Private Beta test net for selected users.

Lupin also took a dig at centralized finance saying that while they capitalized the interest in cryptocurrencies by offering ways to earn yield on crypto assets, the ecosystem is much more similar to traditional finance with third-party custody, third-party payments, and other risks that were exposed and exploited last year.

He concluded his letter emphasizing the tough decision and thanking those affected for their contributions and the work they’ve accomplished. He said that the firm is determined to stay competitive in the market and continue to bring quality products to the blockchain ecosystem.

Investment Firm Drops Fraud Charges Against Terraform Labs, Execs

• Investment firm Albright Capital has voluntarily dismissed its fraud charges against the failed Terraform Labs and its executives, including Do Kwon.
• Following the historic Terra collapse in May 2022, Albright Capital had accused Terraform Labs of promoting the UST, LUNA, and related Terra cryptocurrencies deceptively.
• 3AC co-founder Zhu Shu called the attention of crypto media outlets to the recent Albright and Terra lawsuit development.

Investment firm Albright Capital has recently made the move to drop its fraud charges against the failed Terraform Labs and its executives, including Do Kwon. The news comes after the historic Terra collapse in May 2022, when Albright Capital had accused Terraform Labs of deceptively promoting the UST, LUNA, and related Terra cryptocurrencies.

The lawsuit filed by Albright Capital also included other defendants such as Luna Foundation Guard, Delphi Digital, Jump Trading, Nicholas Platias, Jose Macedo, Kanav Kariya, and Remi Tetot. In addition, the lawsuit accused Terraform Labs executives of withdrawing funds from the Terra ecosystem for their personal gains.

A motion filed on Jan 9 revealed that Albright Capital has decided to voluntarily dismiss the class action against Terraform Labs and Do Kwon without prejudice. The news of the dismissal was called to the attention of crypto media outlets by Three Arrows Capital (3AC) co-founder Zhu Shu, who tweeted on Jan 10 about the sudden voluntary dismissal of the class action.

The development has left many in the crypto community surprised, especially given the gravity of the accusations Albright Capital had made against Terraform Labs. It is unclear if the voluntary dismissal of the case means that the charges against Terraform Labs are unfounded or if the parties have come to a settlement agreement. For now, it appears that the outcome of the case is still up in the air. to Delist USDT and USDT Trading Pairs in Canada on Jan 31

1. will delist USDT and USDT trading pairs on its app and platform for Canadian residents on January 31.
2. will suspend all USDT transactions and cancel all USDT spot orders after the delisting.
3. The move follows instructions from the Ontario Securities Commission under the terms of its registration undertaking for a restricted dealer license.

Cryptocurrency exchange is set to delist its USDT and USDT trading pairs on its app and platform for Canadian residents on January 31 at 06:00 UTC. The move follows instructions from the Ontario Securities Commission (OSC) under the terms of its registration undertaking for a restricted dealer license.

The delisting will be accompanied by urging its Canadian users to review their USDT balances, as it will suspend all USDT transactions after the above-mentioned date. The cryptocurrency exchange has also announced that it will cancel all USDT spot orders and won’t credit any USDT deposited in the wallet after January 31. However, any remaining USDT balances would be converted to USDC.

The delisting is in response to the Canadian Securities Administrators (CSA) decision last December to strengthen its oversight of crypto trading platforms. In its 2022-2025 Business Plan, the CSA outlined a strategic goal of studying the regulatory implications of stablecoins in the capital markets, including their use to trade crypto assets.

The news of the delisting has come as a blow to, as asset outflows from the exchange have increased. Nevertheless, the firm has declared that it is still committed to providing its Canadian users with a safe and secure environment for cryptocurrency trading.

The delisting of USDT and USDT trading pairs from for Canadian residents is a testament to the OSC’s commitment to ensuring the safety of investors. By strengthening its oversight of crypto trading platforms, the OSC is taking the necessary steps to protect investors and ensure that the cryptocurrency markets are operating in a fair, transparent and efficient manner.

Delegowany Mechanizm Dowodu Zasobów (DPoS): Wprowadzenie

Delegowany Mechanizm Dowodu Zasobów (DPoS) to technika konsensusu, która stosuje się w sieciach blockchain. Technika ta wykorzystuje ideę delegacji władzy do wyboru reprezentantów do współdziałania w ustalaniu zgodności zasobów. W tym artykule omówimy jej historię, porównamy ją z innymi mechanizmami dowodu, przyjrzymy się procesowi wyboru delegatów, przyjrzymy się jej zaletom i wadom, przyjrzymy się jej zastosowaniu w platformie Bitcoin Investor oraz omówimy jej przyszłość.

Czym jest Delegowany Mechanizm Dowodu Zasobów (DPoS)?

Delegowany mechanizm dowodu zasobów (DPoS) jest techniką konsensusu stosowaną w sieciach blockchain. Technika ta wykorzystuje ideę delegacji władzy do wyboru reprezentantów do współdziałania w ustalaniu zgodności zasobów. W przeciwieństwie do innych mechanizmów dowodu, takich jak PoW (Proof of Work) i PoS (Proof of Stake), DPoS umożliwia użytkownikom wybór grupy ludzi, którzy będą współdziałać w ustalaniu zgodności zasobów.

Historia DPoS

Delegowany mechanizm dowodu zasobów został zaprojektowany w 2014 roku przez Dan Larimer, twórcę BitShares. Idea ta została wykorzystana w systemie BitShares, a następnie została zmodyfikowana i zaimplementowana w kryptowalutach takich jak EOS, Tron i Steem.

Porównanie DPoS do innych mechanizmów dowodu

Delegowany mechanizm dowodu zasobów różni się od innych mechanizmów dowodu, takich jak PoW i PoS. PoW wymaga użytkowników, aby wykonali określone zadanie komputerowe, aby udowodnić swoją tożsamość i dostęp do zasobów. PoS z kolei wymaga użytkowników, aby wykazali posiadanie określonej ilości aktywów, aby uzyskać dostęp do zasobów. W przeciwieństwie do tych dwóch mechanizmów, DPoS umożliwia użytkownikom wybór grupy ludzi, którzy będą współdziałać w ustalaniu zgodności zasobów.

Proces wyboru delegatów

Podstawą DPoS jest wybór delegatów do współdziałania w ustalaniu zgodności zasobów. Aby to zrobić, użytkownicy głosują na kandydatów, którzy mogą reprezentować ich interesy. Kandydaci, którzy otrzymają największą ilość głosów, zostaną wybrani na delegatów. Następnie delegaci będą odpowiedzialni za weryfikację transakcji i ustalanie zgodności zasobów w sieci.

Główne zalety DPoS

Delegowany mechanizm dowodu zasobów ma kilka ważnych zalet. Po pierwsze, jest on znacznie szybszy niż inne mechanizmy dowodu, takie jak PoW i PoS. Po drugie, DPoS jest znacznie bardziej wydajny niż PoW i PoS, ponieważ wymaga mniej zasobów do weryfikacji transakcji. Po trzecie, DPoS jest tańszy niż PoW i PoS, ponieważ użytkownicy nie muszą angażować zasobów w weryfikację transakcji.

Przykłady użycia DPoS

Delegowany mechanizm dowodu zasobów jest szeroko stosowany w sieciach blockchain, szczególnie w systemach zdecentralizowanych, takich jak BitShares, EOS, Tron i Steem. Systemy te wykorzystują DPoS do weryfikacji transakcji i ustalania zgodności zasobów.

Wykorzystanie DPoS przez platformę Bitcoin Investor

Platforma Bitcoin Investor wykorzystuje DPoS do zapewnienia bezpieczeństwa transakcji i ustalania zgodności zasobów. Platforma ta wykorzystuje tę technikę do weryfikacji transakcji i ustalania, które transakcje są zgodne z zasadami sieci.

Zagrożenia związane z DPoS

Jednym z głównych zagrożeń związanych z DPoS jest to, że użytkownicy mogą wybierać niewłaściwych delegatów, którzy mogą nie działać zgodnie z interesami użytkowników. Ponadto istnieje ryzyko, że grupa delegatów może wykorzystać swoją pozycję, aby wpływać na decyzje w sieci.

Przyszłość DPoS

Delegowany mechanizm dowodu zasobów jest coraz częściej stosowany w sieciach blockchain. W przyszłości możemy spodziewać się, że technika ta będzie stosowana w coraz większej liczbie systemów, co będzie oznaczać większą wydajność i niższe koszty.


Delegowany mechanizm dowodu zasobów jest techniką konsensusu stosowaną w sieciach blockchain. Technika ta umożliwia użytkownikom wybór grupy ludzi, którzy będą współdziałać w ustalaniu zgodności zasobów. Technika ta ma kilka ważnych zalet, w tym szybkość, wydajność i niskie koszty. Platforma Bitcoin Investor wykorzystuje DPoS do zapewnienia bezpieczeństwa transakcji i ustalania zgodności zasobów. W przyszłości technika ta będzie stosowana w coraz większej liczbie systemów.

Stablecoin RAI lanserer, et rent, desentralisert alternativ for DeFi

RAI stablecoin vil forsøke å bringe stabilitet i DeFi-markedene med det langsiktige målet om å bli en stabil global reservekapital som ikke er bundet til noen lands valuta.

Ny Ethereum-støttet stablecoin RAI håper å være frelser for DeFi-sektoren ved å tilby et virkelig desentralisert stablecoin-alternativ

RAI er utviklet av blockchain-oppstart Reflexer Labs , og er ikke knyttet til noen fiat-valuta, og dens pengepolitikk styres av en on-chain, autonom kontroller. Det er en gaffel av Maker’s DAI. RAI-medstifter Ameen Soleimani forklarte:

„RAI er en eiendel som bare støttes av ETH, styres minimert og er programmert til å opprettholde sin egen prisstabilitet uten å måtte knytte til en ekstern prisreferanse som USD.“

Soleimani mener at RAI, som han kalte „A Money God“, har et langt største potensial enn å bare forbedre DeFi-sektoren og legger til:

„Våre ambisjoner om RAI er imidlertid dypere – hvis RAI oppfyller sitt formål innen DeFi og begynner å tjene global adopsjon, kan det vise seg å være en levedyktig løsning på Triffin-dilemmaet, og bringe troverdig nøytralitet til administrasjonen av en stabil global reserve eiendel. ”
Triffindilemmaet består av potensielt motstridende insentiver som oppstår når en eiendel, som USD, fungerer både som nasjonal valuta og for internasjonale reserver.

Kunngjorde i dag, har eiendelen lansert på Ethereum blockchain og er tilgjengelig via Uniswap v2, med likviditeten gruve bassenger satt til å bli annonsert i de kommende ukene. Før en sterk likviditetsbasseng innrømmet teamet at „kontrolleren vil være svakere enn vanlig.“

Selv om det er stabilt, er det ikke knyttet til verdien av USD, og ​​i utgangspunktet vil RAIs innløsningspris bli satt til $ 3,14. En umiddelbar brukssak i desentralisert økonomi, eller DeFi, spår teamet vil være en metode for å unngå avvikling på sterke prissvingninger for Ethereum og andre kryptovalutaer.

Hvordan er RAI annerledes?

Stablecoins som Tether (USDT) er sentralisert og knyttet til amerikanske dollar, mens selv Maker’s DAI aksepterer sentralisert stablecoin USDC som sikkerhet. Dette gjør ekte desentraliseringsfinansieringsakolytter bekymret da sentraliserte mynter kan sensureres. RAI bruker bare ETH som sikkerhet.

RAIs evne til å opprettholde en stabil pris til tross for svingninger i verdien av ETH-støtten, dreier seg om PID-kontrolleren – en kontrollsløyfemekanisme som ligner en bils cruise control.

Eiendelen har to priser, en innløsningspris og en markedspris. Når markedsprisen avviker fra innløsningsprisen, er en rentesats for de som har stilt Ethereum satt til å motsette seg prisutviklingen, og stimulere brukerne til å returnere RAI til målprisen.

Soleimani, som også er administrerende direktør for kryptokamsiden SpankChain, forklarte at “Det fungerer som en vår: jo lenger markedsprisen på RAI beveger seg fra målprisen, jo kraftigere er renten, og jo større insentiv å bringe RAI tilbake i likevekt. ”

Soleimani la til at innløsningsprisen, også kjent som den opprinnelige målprisen, ikke egentlig betyr noe fordi „RAI bare bryr seg om relativ stabilitet.“

I løpet av testfasen gjennomført i 2020, som brukte Proto RAI-tokens, klarte eiendelens pris å opprettholde et volatilitetsnivå på 4% eller lavere med en gjennomsnittspris på rundt $ 2. I samme periode vokste Eters pris med mer enn 250%.

Bitcoin kan bli ‘Digital Gold’ hvis Volatility Drops and Regulators Step in, sier Bridgewater Exec

Bridgewaters direktør for investeringsforskning Rebecca Patterson har sagt at bitcoin kan bli digitalt gull hvis kryptovalutas volatilitet synker og likviditeten forbedres med „reguleringssikkerhet.“

Bitcoin en „alternativ valuta“

Pattersons ord kom under et intervju med Bloomberg, først rapportert av Business Insider. Under intervjuet avslørte Patterson at hun ikke ville kalle Bitcoin Future en „alternativ valuta“ og argumenterte i stedet for at flaggskipskryptovalutaen ville være bedre sammenlignet med gull som en butikk av verdi.

Hun la til at hun mener bitcoin har potensial til å bli „digitalt gull“, men bare etter at problemer knyttet til volatilitet, likviditet og regulatorisk status er løst. Patterson påpekte at bitcoin som institusjonelle investorer ikke kan si „med tillit ennå“, vil være digitalt gull.

Flaggskipskryptovalutaen har verdi for investorer som en sikring mot fiat-valutainflasjon, da investorer ser på krypto mens de bekymrer seg for at fiat-valutaer mister verdien med „all denne sentralbankutskriften.“ For å få Bridgewater til å investere i kryptovalutaen, skrev hun, måtte noen få ting forbedres.

Ville Bridgewater trenge å se volatiliteten synke som

Per utøvende myndighet, ville Bridgewater trenge å se volatiliteten synke som „akkurat nå kan bitcoin bevege seg 10% på en tweet, det er ikke akkurat en rikdomsbutikk for de fleste institusjonelle investorer.

“ Videre vil firmaet måtte se større likviditet, noe hun mener kan komme fra „reguleringssikkerhet.“

Hun sa:

Jo mer du får et reelt reguleringsøkosystem som utvikler seg rundt bitcoin og andre valutaer, jo flere andre typer investorer vil være komfortable med å komme inn, det vil bringe likviditeten, og det vil redusere volatiliteten.

Det er verdt å merke seg at de fleste analytikere mener at tilsynsmyndigheter som går inn, kan hindre bitcoins vekst. Denne måneden hevdet finansminister Janet Yellen bitcoin er en „ekstremt ineffektiv“ måte å gjennomføre pengetransaksjoner på.

La ballena que vendió Bitcoin antes del desplome de 2020 cobró $ 156 millones antes de la caída del 20% de esta semana

Un vendedor en serie con una gran cantidad de BTC a su nombre decidió deshacerse de una gran parte de Bitcoin justo antes del colapso del lunes a $ 47,400.

Bitcoin ( BTC ) perdió un 20% en un día en parte gracias a las acciones de una sola ballena, sugiere una nueva investigación.

Los datos de la firma de análisis en cadena Santiment el 23 de febrero mostraron que BTC / USD cayó a $ 47,400 después de que tuvo lugar la segunda transacción más grande de Bitcoin de 2021.

Rendimientos pasados ​​de Ghost of Bitcoin sell-offs

La transacción, 2,700 BTC por valor de $ 156,6 millones a $ 58,000 por token, resultó en una venta que acumuló presión en el mercado, convirtiéndose en la vela de una hora más grande en la historia de Bitcoin.

“Como notamos ayer, hubo un pico de entrada de intercambio de 11 veces que inició la corrección de precio de # Bitcoin desde su $ 58.3k #ATH”, escribió Santiment en los comentarios adjuntos en Twitter.

„La combinación de datos adicionales reveló que una dirección fue responsable de la segunda transacción más grande de $ BTC del año, una importación de 2.700 tokens a la billetera antes de una venta rápida“.

Cuadro de importación para la dirección de venta de ballenas sospechosas. Fuente: Santiment / Twitter
Los hallazgos arrojaron luz sobre lo que estaba sucediendo exactamente cuando la volatilidad se hizo cargo de Bitcoin, que logró recuperarse a $ 54,000 antes de cotizar por debajo de $ 50,000 una vez más en el momento de escribir este artículo.

Algunos creen que el mercado estaba demasiado extendido, y los detractores en particular afirmaron que un proceso similar a una burbuja había estado en marcha durante mucho tiempo. Otros argumentaron que se trataba simplemente de „negocios como de costumbre“ para el comercio de criptomonedas, pero como informó Cointelegraph , las preocupaciones habían aumentado sobre las entradas inusuales a los intercambios.

Santiment señaló que la misma dirección también se había vendido inmediatamente antes de la caída del precio de los activos cruzados en marzo de 2020. En ese momento, Bitcoin perdió casi el 60% de su valor y alcanzó los $ 3.600.

„Esta misma dirección también hizo una importación de 2.000 $ BTC en marzo pasado, justo cuando tuvo lugar la corrección del Jueves Negro“, reveló.

„En total, ha realizado 73 transacciones en su existencia de un año, por un total de 91,935 $ BTC importados, y todos los tokens se retiran minutos después de la llegada“.

Ballenas en el centro de atención

Las sospechas se habían centrado durante mucho tiempo en las ballenas, que se habían beneficiado de la venta de pequeñas carteras durante las caídas de precios anteriores durante la reciente carrera alcista de Bitcoin. Como informó Cointelegraph , la cantidad de carteras del tamaño de una ballena había ido en aumento, mientras que los pequeños propietarios habían disminuido.

“El lado a lado más interesante le dice cómo progresa el perfil del inversor de Bitcoin: las ‚ballenas‘ disminuyeron a medida que el precio se elevó en el último ciclo; un nuevo grupo de ballenas sigue apareciendo esta vez, mientras que los camarones son las manos débiles que se vendieron demasiado pronto ”, tuiteó el socio fundador de Primitive, Dovey Wan, la semana pasada junto con un gráfico que compara las corridas alcistas de 2017 y 2021.


Mientras tanto, algunas respuestas a la investigación señalaron que la billetera en cuestión había sido responsable de una fracción del volumen total de operaciones y que, por lo tanto, su influencia debería ser limitada.

„No creemos que una sola dirección desencadene el retroceso del precio del activo criptográfico más grande del mundo, por lo que ciertamente tampoco queremos que lo crea“, respondió Santiment.

Bitcoin Cash, Polkadot, FTX Token Price Analysis: 5. januar

Noen få av markedets altcoins som Polkadot og FTX Token steg til rekordnivåer de siste handelssesjonene, mens Bitcoin Cash registrerte en korreksjon, en som så prisen bevege seg mot $ 415-merket.

Bitcoin Cash [BCH]

Kilde: BCH / USD, TradingView

En titt på Bitcoin Cashs 4-timers diagram viste at kryptovalutaen noterte en mindre korreksjon etter at prisen klatret så høyt som $ 467,76, et nivå som ikke er sett siden februar 2020. Mens BCH har vært i det grønne det siste døgnet, har visse indikatorer signaliserte at korreksjonen også kunne strekke seg over de neste handelssesjonene.

MACD noterte en bearish crossover mens histogrammet også registrerte bearish bevegelse.

Til slutt beveget Awesome Oscillators røde søyler seg mot null, et tegn på at prisen virkelig var baisse. Støtten på $ 368,28 kan gi prislindring hvis de går lavere på hitlistene.

Polkadot [DOT]

Kilde: DOT / USD, TradingView

Polkadots pris steg i været i begynnelsen av 2021. Faktisk økte DOT de siste sju dagene med over 46%, og tilførte en monstrøs 3,63 milliarder dollar til verdien, og tok den totale markedsverdi til 8,29 milliarder dollar. Det er tydelig at Bitcoin’s bull run har vært ganske gunstig for DOTs bevegelse. Bølgen de siste par ukene har også blitt styrket av Binances beslutning om å finansiere prosjekter til en verdi av 10 millioner dollar på Polkadots nettverk.

Etter å ha snappet en heltidshøyde på $ 10,5 bare i går, ble prisen avkjølt og handlet nær sin støtte til $ 8,97. Kortsiktige utsikter kan føre til at prisen fortsetter å konsolidere seg mellom den nåværende kanalen.

Relativ styrkeindeks beveget seg mot den nøytrale sonen etter handel i det overkjøpte området. Dette antydet at prisen mistet dampen og den bullish momentum avtok.

Selv om On Balance Volume var i det høyere territoriet, pekte det sørover, et tegn på at det kunne bevege seg lavere og dra prisene sammen med det.

FTX Token [FTT]

Kilde: FTT / USD, TradingView

I likhet med konkurrenten Polkadot, har FTX Token også hatt en god start på januar da prisen steg med over 38% den siste uken. Rallyet presset FTT til rekordnivåer, med kryptovalutahandelen på en høyde på $ 7,9 i skrivende stund. Imidlertid kan en korreksjon være rett rundt hjørnet, avhengig av BTC og ETHs bevegelse fremover.

Chaikin Money Flow viste at kapitalinnstrømningen beveget seg i takt med prisøkningen. I løpet av de siste par dagene strømmet penger bort fra kryptovalutaen, noe som antydet en mulig tilbakeføring i prisene. Hvis prisene faller, kan support tilbys til $ 5,90.

Parabolic SARs prikkete markører var under lysestakene, noe som indikerer at prisen virkelig var bullish.

One of the founders of Bitcoin Cash has published an update on the status of the project.

Jonald Fyookball was in fact part of the team that on August 1, 2017 launched the new Bitcoin Cash (BCH) protocol, forging the Bitcoin Cash (BTC) protocol, and now more than three years later he takes stock of the situation.

Fyookball obviously admits that this is a partisan point of view, since he loves Bitcoin Cash, but being part of the launch team his contribution remains interesting for those who follow the evolution of this project.

In fact he believes that the main case of use of cryptocurrency should be the one of means of payment, and not of reserve value as it is imposing for example for Bitcoin.

For this reason the evolution of BCH differs from that of BTC, since Bitcoin Cash has as main objective to be used as exchange currency, while Bitcoin is becoming more and more primarily a reserve value.

Fyookball admits that the price of BCH has behaved badly during the bearish market, so much so that its current value is close to its launch value, in August 2017, and still very far from the highs, unlike BTC.

The reason could be due to the volume of daily transactions, defined as „disappointing“. For example, when comparing the number of daily transactions, BCH does not reach a tenth of those of BTC, although it should have been used as a means of payment, i.e. in theory for a much higher number of transactions.

Nevertheless Bitcoin Cash is still the sixth cryptocurrency in the world for market capitalization, although overall it is worth about 70 times less than BTC.

Bitcoin cash, the protocol updates

Among the innovations introduced in these three years stand out:

CashFusion, the protocol for coinjoins,
the testnet which reached 11,000 transactions per second thanks to 250 MB blocks,
the CheckDataSig for the inclusion of external data signatures,
the adoption of BCH as a means of payment in 7,500 stores worldwide,
high-level programming languages like Spedn and Cashscript,, ASSERT DAA to keep the block time stable,
the Flipstarter crowdfunding tool, Read.Cash,
the AnyHedge protocol for decentralized financial instruments,
and other developments.

Fyookball also points out that the recent Bitcoin Cash ABC (BCHA) fork was not particularly harmful, as was for example the 2018 fork of Bitcoin SV, so much so that it was called a „bullish“ fork for Bitcoin Cash.

He concludes by saying that BCH has managed to maintain a multi-billion dollar market cap for several years, and is here to stay, thanks to its solid fundamentals.