RATE Group | Is Bitcoin Cash (BCH) Losing Value Due to Bitmain’s Alleged Financial Woes?
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Is Bitcoin Cash (BCH) Losing Value Due to Bitmain’s Alleged Financial Woes?

14 Dec Is Bitcoin Cash (BCH) Losing Value Due to Bitmain’s Alleged Financial Woes?

Posted at 15:37h in Bitcoin News by

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The crypto community breathed a sigh of relief after the Bitcoin Cash (BCH) hash wars reportedly ended on the 23rd of November. The Hash Wars that had officially started on the 14th of the same month, were due to two factions of the BCH community not agreeing on which upgrade to implement. This then led to a bitter battle between one camp led by Craig Wright (Bitcoin SV) and another by Roger Ver and Jihan Wu. The two camps eventually settled to fork the BCH blockchain.

Mr. Wu is the current CEO of Bitmain which is a company that specializes in designing ASIC chips for Bitcoin mining. The company also operates two of the largest Bitcoin mining pools: BTC.com and Antpool.

Signs of Trouble at Bitmain

The initial signs of trouble at Bitmain started right before the Hash Wars when it was reported that Jihan Wu had lost his seat as the company’s board executive director after a board reshuffle. Jihun was reportedly replaced by Zhan Ketuan. The reason for the reshuffle was not…

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