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Co-Founder of Bitcoin Sells All of His Stash

But why?

Photo by Kanchanara on Unsplash

Bitcoins have always been shrouded in secrecy and with the fluctuating market, there is no concrete way of measuring wealth. With the unstable environment, that bitcoin inhabits it might be the safest bet to sell now rather than later. 1 bitcoin is equivalent to about 1,4010.15 USD. These are used for currency in the deep web- which is the bottom of the iceberg when it comes to the internet.

The co-founder,  Emil Oldenburg, of bitcoin states:

It is an extremely high risk. I’ve actually sold all my Bitcoins recently and switched to Bitcoin Cash.

It costs a lot to transfer Bitcoins to and from the stock exchanges. When I sold my BTC I had to pay $50 and wait 12 hours or the transaction to go through because of this.

Bitcoin.com has ‘stopped developing new services for the old bitcoin network’ and now primarily focuses mostly on Bitcoin Cash, which was launched in August.

The old Bitcoin network is virtually unusable. It’s at Bitcoin cash that the solutions are, that’s where I see a future.

Bitcoin cash is a project that handles deep web currency with more stable hands. All the experts say that wealth amassed in bitcoins will crash to 0 soon so I guess it would be a safe bet to cash in now.

For more information on bitcoins, the currency is now 6th in the world.

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