0
📊‍ Infographics
1276 views

Quick Look at Richest Bitcoin Cash (BCH) Addresses. Who Are These Whales?

  • Alex Dovbnya
    📊‍ Infographics

    You have👆 ✔️  to own 20,000 BCH in order to end up on the ‘Rich List,’ but the biggest whales ✋️ 🐋are incredibly wealthy

Quick Look at Richest Bitcoin Cash (BCH) Addresses. Who Are These Whales?
Cover image via u.today
Contents

Bitcoin Cash is a controversial Bitcoin spin-off that attempts to solve BTC’s scaling problem by increasing the block size. This allows the coin to reach higher mainstream adoption because of higher transaction speed. Despite the forking that took place in November, BCH is still holding up strong, occupying fourth place on CoinMarketCap.

👉MUST READ

Top 10 Richest Bitcoin Addresses: Here’s Everything That We Know About Their Owners

Top 10 Richest Bitcoin Addresses: Here’s Everything That We Know About Their Owners

Meet Bitcoin Cash whales

The richest BCH wallet holds more than $195 mln, which is 2.65 percent of the total supply, according to data provided by BitInfoCharts. This is a relatively new wallet that was created on January 25, and it has frequent transaction movements.

It is worth noting that this is the only address that boasts eight-figure numbers. Overall, only seven addresses hold more than 100,000 BCH ($40.8 mln at the time of writing).

It is now exactly clear who owns these wallets. However, it is reasonable to assume that ‘Bitcoin Jesus’ Roger Ver, Calvin Ayre, and Jihan Wu could hold the heftiest BCH bags. As reported by U.Today, Ver revealed that he sold his Bitcoin holdings for Bitcoin Cash, which occupies the lion’s share of his investment portfolio.

👉MUST READ

Trading Expert Suggests Bitcoin Cash Price Is on the Verge of a Breakout

Trading Expert Suggests Bitcoin Cash Price Is on the Verge of a Breakout

Joining the ‘one percent’ club

Speaking of the distribution of Bitcoin Cash, you only need to own more than 1 BCH ($414.87) at the time of writing in order to end up among the top 1.97% of the wealthiest owners. For comparison, your net worth has to exceed $770,000 in order to be in the ‘one percenter’ club in the US.

It appears that the lion’s share of BCH holders simply dabbles with the cryptocurrency.

Only the most important posts per day. Infographics, analytics, reviews & summaries. Join our Telegram channel!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles
0
📰 News
2452 views

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing

  • Alex Dovbnya
    📰 News

    Google's quantum computer is still too primitive to pose a threat for Bitcoin's cryptography, but things could escalate quickly

Bitcoin in Danger as New Research Shows Google Has Achieved Breakthrough in Quantum Computing
Cover image via www.123rf.com
Contents

According to a new research paper published in science journal Nature, Google's quantum computer is able to perform calculations in just three minutes. To put this into perspective, it would take the fastest supercomputer about 10,000 years to perform the same operation, which signifies a major tech milestone for the search behemoth. 

👉MUST READ

Close to Heresy: Mike Novogratz Shreds Binance CEO, Vitalik Buterin Joins the Fray

Close to Heresy: Mike Novogratz Shreds Binance CEO, Vitalik Buterin Joins the Fray

Google achieves "quantum supremacy"

Back in September, the Financial Times reported that Google has managed to achieve "quantum supremacy," which means that its beast is able to perform calculations that would be impossible to pull off with any other computer. 

However, technology is still way too fragile for commercialization, which is unlikely to happen anytime soon. There is hardly any practical application for quantum computers, but they do have great potential for disrupting a lot of industries, such as finance and transportation.   

Considering that the Trump administration has funneled a whopping $1.2 bln into the development of quantum computing, it might stop being just a buzz word. 

👉MUST READ

It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future

It Would Take Several Seconds to Hack Every Cryptocurrency in the Nearest Future

Will Google's quantum success affect Bitcoin

There is also one notable application for quantum computing -- hacking Bitcoin. The headlines about Google's super-powerful juggernaut has made many wonder whether Bitcoin, whose value derives from the immutability of its Blockchain, is in danger. 

However, ex-Bitcoin Core developer Peter Todd reassured the confused crypto crowd that Google was nowhere near breaking the top coin's cryptography. On top of that, it's not even clear whether quantum computers could potentially be scalable enough for commercial use. 

Bitcoin evangelist Andreas Antonopoulos also opined that Google's quantum breakthrough would have no impact on the orange coin. 

Subscribe to U.Today on Facebook, and get involved in all top daily cryptocurrency news, stories and price predictions!

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

👓 Recommended articles

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings