In the newest of the current trends or rather the reigning cash trends of all time Coin base has now decided to add full support to the Bit con Cash Initiative(BCH) i.e. you can now receive and sell the cash and again buy the crypt o currency.
It released Bit con cash which is worth $3000 into a lot of customer accounts on Tuesday evening.
Coin base also has an exchange issued for it called the Institutional focused exchange which will be available on GDAX.
What were the after effects of these?
Some after shocks after such a type of announcement was expected and what were its after effects we will soon see.
Both Coin base and GDAX seem to be experiencing some intermittent changes and the trading on Biz con has been suspended.
There was huge traffic following the announcement and immediately Bizcon’s price almost fell to around 25% but eventually seems to be stabilizing which was still down around 10% from a few hours from now.
What was the view of Coin base?
Coin base has made its stance clear that they want to support other currencies as much as possible in the future.
So by now it is sure that it is the third largest currency by market cap.
The company has also added a different kind of framework for the differentiation of the of the various digital currencies.
What does the arrival of Bitcon cash translate?
It is a clone of the bit con currency but its blocks are twice to that to the original bit con.
Blocks are a type of units that are used to make a block chain which is a type of software which contains a permanent ledger of transactions.
What are going to be its after effects?
The widespread distribution of Biz con cash is likely to intensify and create a speculative mania against crypt o currency.But some are of the view that it is only a bubble.
What is the importance for Bit con?
Bit con has the potential for to change we bank,make various transactions and make business.
One can earn money by working ,selling and exchanging the currencies.The dilemma still is bit con is now till date is not adopted as a transaction currency till now.Moreover the comparison would constantly be made with the dollar rate or its equivalent for a more cheaper option.