GMO Internet Deserts Bitcoin Cash, Mines Only Bitcoin
The mining capacity of GMO Internet, the Japanese tech giant, is now totally dedicated to Bitcoin (BTC) mining, deserting Bitcoin Cash (BCH) completely. It seems GMO implemented the new mining plan in July.
The information came to limelight with the publishing of GMO Internet’s mining report by Trace Meyer, a cryptocurrency investor.
Mayer has opined that GMO Internet could have ditched Bitcoin Cash because of the issues that plague the project. However, the mining statistics contrast with the decision. GMO Internet has mined just 21 Bitcoin blocks in January, while it mined 213 Bitcoin Cash blocks.
Referring to Bitcoin fork monitoring site fork.lol, Meyer stated that GMO had consciously moved away from mining Bitcoin Cash due to the issues it faces.
In the recent past, there have been credible reports that Bitcoin Cash could be subjected to a 51% attack by spending a mere $40,000. Additionally, plans to fork Bitcoin Cash later this year has been met with criticism and votes of no confidence from major crypto investors.
Why would GMO Internet switch all mining capacity to $BTC from $BCH? Only ~$37,867 for one hour 51% $BCH attack? Does DARI ratio account for block maturation times? Nov fork? What could possibly happen with this $9B testnet? Sure is fun to watch! ? ? https://t.co/2P55FNxK23 pic.twitter.com/hZLx2hDUk6
— Trace Mayer (@TraceMayer) August 24, 2018
Roger Ver, Vehement supporter of Bitcoin Cash stirred an issue last year by claiming that Bitcoin Cash is the actual Bitcoin envisioned by Satoshi Nakamoto,
AuthorKelly Cromley
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.
