Since the hard fork of Bitcoin Cash that resulted in the ABC camp claiming the ticker for BCH, the value of the digital asset has dropped from around $500 on the day before the event (November 14th) to current levels of $115. This is a drop in value of 77% in a period of less than a month. Some crypto enthusiasts and analysts have concluded that BCH has entered what is known as a Downward Spiral. This has been explained as the situation where it might not be profitable to mine the digital asset.<\/p>\n
The Bitcoin Cash hash wars<\/a> involved two camps. There was Craig Wright who supported the Satoshi Vision upgrade of BCH or simply BSV. Then there was Roger Ver and Jihan Wu (CEO of Bitmain) who were for the ABC version of the coin’s upgrade.<\/p>\n According to the Bitcoinist<\/a>, unconfirmed leaked information indicate that Bitmain has lost $740 Million in Q3 of 2018 excluding the costs to financing the Hash Wars. The Bitcoinist cites a twitter account with the username of @BTCKING555 who revealed the information as follows<\/a>.<\/p>\n We got leak of Bitmain Q3 numbers! COMPLETE DISASTER. The company lost $740 Million including losses on inventory and bitcoin cash! And this is not accounting for hash war costs! The full tweet can be found below.<\/p>\n We got leak of Bitmain Q3 numbers! COMPLETE DISASTER. The company lost $740 Million including losses on inventory and bitcoin cash! And this is not accounting for hash war costs! #bitmainipo<\/a> @HKEXGroup<\/a><\/p>\n — BTCKING555 (@btcking555) December 4, 2018<\/a><\/p><\/blockquote>\nBitmain Rumored to Have Made $740 Million In Loses in Q3, 2018<\/strong><\/h4>\n
\n
#<\/s>bitmainipo<\/b> @<\/s>HKEXGroup<\/b><\/p>\n<\/blockquote>\n\n