Secrets of Bitcoin Cash: Who Are the Miners?
- The blockchain is supposed to be decentralized and transparent, yet no one knows who the majority of Bitcoin Cash miners are.
- An unknown spam attack that displays similar characteristics to stock market bot trading miraculously pulls BCH out of the gutter and back on track into gobbling up crypto market share.
- Now central banks are announcing their acceptance of Bitcoin Cash through their intermediaries (middlemen).
In under three weeks, spawning on August 1st as a protest to Bitcoin Core’s implementation of segregated witness (Segwit) as a scaling solution, Bitcoin cash (BCH) has become the 3rd largest cryptocurrency by a wide margin, going from a market cap of between $100 million to $200 million to suddenly $744 million in 3 days.
Thanks to today’s price surge, bitcoin cash is now 6% more profitable to mine than the original bitcoin blockchain.
BCH’s sudden rise in popularity began after the first 8MB block was successfully mined on August 16th in a response to a spam attack, as the number of unconfirmed transactions soared from a few hundred to more than 80,000 within a matter of hours.
Within a short time, BitClub Network found an 8MB block that cleared 37,814 transactions. A few hours later, an unknown miner found a 4MB block. This was quickly followed by two more 4MB blocks and then one 4.8MB block … from unknown miners.
Supporters now feel justified to the split, believing that larger block sizes have clearly demonstrated they are a scaling solution as the problem was quickly resolved once the 8MB block was discovered.
Why does no one know who the majority of miners are if the blockchain is supposed to be a transparent, decentralized solution to our economic needs?
Who caused the spam attack and who are the unknown miners that engineered the perfect scenario to push Bitcoin Cash into the future of overtaking Bitcoin as it continues to close the gap in market share?
What happened on the morning of August 16th is a trading pattern exhibited by algorithms (artificial intelligence) in the stock market. Known as flash dips, bots will trick each other into buying and selling in massive amounts, making billions within seconds. Central banks know how to manipulate these bots into creating trading frenzies that benefit their agenda utilizing their own algorithms.
Recommended Article: Robots Control the Stock Market
The other reason why BCH has seen a dramatic increase is due to a recent announcement by Falcon Private Bank … a key timed announcement just after the 8MB block was discovered.
A month after installing a bitcoin ATM in their Zurich lobby, Falcon Private Bank Ltd., a private Swiss-based banking boutique also announced that beginning on Tuesday, August 22nd, 2017, they will add Ethereum, Litecoin and Bitcoin Cash to their recently launched blockchain asset management services.
Bitcoin Suisse AG will be the bank’s crypto-asset broker and infrastructure partner that will provide these services, under the approval of the Swiss Financial Markets Regulatory Authority.
Nicolas Nikolajsen, CEO of Bitcoin Suisse AG, said:
“A bank offering crypto-assets is a game changer, as it gives institutional clients and high net worth individuals a counterparty in regard to crypto-assets upon which they can rely: a regulated Swiss bank.”
Falcon Private Bank is a Central Bank.
Since 2009 the Bank has been owned by Aabar Investments PJS with its largest stakeholder being the International Petroleum Investment Company (IPIC). IPIC is wholly owned by the Government of the Emirate of Abu Dhabi through its wholly-owned subsidiary, Mubadala Investment Company PJSC.
Abu Dhabi is the oil capital of the Federation of United Arab Emirates and at present is estimated to be the world’s highest absolute and per-capita level of sovereign wealth funds. They have been ruled by the same family since the late 18th century.
Falcon Private Bank – the bank of Abu Dhabi – is headquartered in Zurich, Switzerland – the home of central banks.
Blockchain technology certainly holds the potential to free our society from the centralized chains of banks, but no one is really paying attention and they are quickly injecting themselves as necessary intermediaries.
They are using algorithms to corrupt the blockchain – to bring it under their control, just like they did with the stock market, before we even realize what the blockchain is.
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