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Bitcoin beat up the cryptocurrency route

Bitcoin Cash itself is an escape from Bitcoin, and was launched in August 2017. It is designed to be a faster service that will be able to process more transactions. Now, the same type of split, known as "fork" in the world of cryptocurrencies, is dividing Bitcoin Cash into two, Bitcoin ABC and Bitcoin SV.

Such "fork" tend to be seen as bearish by cryptocurrency operators because the fragmentation of a well-known name, such as Bitcoin or Bitcoin Cash, can encourage strangers to launch their own cybernetic versions of money, diverting the question from established denominations.

IBM has examined the cryptocurrency

Meanwhile, Bloomberg, the news and financial information service, reported that the Justice Department is investigating the use of the tether, a cryptocurrency related to the US dollar, to support Bitcoin, an affirmation also against Bitfinex, an associated trading venue. Not only will this price support, which is denied by Tether and Bitfinex, be at least extremely uneven, but doubts have been raised that Tether is, as it claims, supported by a reserve of U.S. dollars.

"Bitfinex and Tether are or have never been involved in any kind of manipulation of the market or prices," Bitfinex CEO JL van der Velde told Bloomberg. "Tether emissions can not be used to support the price of bitcoins or any other coin / token on Bitfinex."

This is an irony in Tether's affirmation that it has the dollar's support, as enthusiasts for cryptocurrencies have long promoted them on the grounds that they are more reliable than banknotes issued by central banks. . This, they say, is because the blockchain technology that generates cryptocurrencies places an indissoluble limit on the number of "coins" that can be produced, protecting against inflation and keeping currency values.

Computer giant IBM he explored the idea of ​​dining his own cryptocurrency, in collaboration with a technology start-up called Stronghold, which would be supported by dollar reserves.

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