Ainslie Adds Bitcoin Cash!

Posted | 27/02/2018 / Views | 1222
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We are pleased announce the introduction of Bitcoin Cash (BCH) to the Ainslie crypto offer and thus offering you the Top 5 cryptos by market capitalisation (1. BTC $164b 2. ETH $83b 3. XRP $36b 4. BCH $20b 5. LTC $12b)

Bitcoin Cash (BCH) came into existence in August 2017 by way of a hard fork of Bitcoin (BTC).  As defined on the BitcoinCash.org website ‘Bitcoin Cash is a peer-to-peer electronic cash for the Internet.  It is fully decentralised, with no central bank and requires no trusted third parties to operate.’  The primary motivation behind BCH was solely to carry out more transactions, faster.

At the time of the fork BTC holders received one ‘bonus’ BCH for each BTC they owned.  The catch was though to ensure you received the free BCH tokens you needed to hold the private keys for your BTC yourself, in other words, not have the BTC stored on an exchange as some exchanges were not providing the ‘free’ BCH tokens.

The driving forces behind the creation of Bitcoin Cash were the scaling issues for Bitcoin which resulted in slowing transaction times and increasing fees.  Bitcoin currently has a 1mb block size limit meaning that Bitcoin can only handle 4.4 transactions per second.  As you can see in the chart below, at its craziest peak in mid December last year there were over 425,000 BTC transactions per day.  Users will remember the delays if you didn’t crank up your transfer fees.   Bitcoin Cash attempts to overcome these scalability issues principally by increasing the block size to 8MB.  

As a side note, you can see just how much transactions have fallen in this latest correction and also how they are already rebounding.  If you look at the last big dip on 1 August 2017 (132,000 transactions) the price had a bottom too at just $2710.  Is history about to repeat? 

Ainslie Adds Bitcoin Cash!

Bitcoin Cash has maintained considerable growth since its inception given the market conditions and is currently sitting at just under AU$1,500 at the time of writing, which is approximately a 2X gain from August 2017.  This growth has been fuelled by widespread listings on exchanges and support from wallets which gives the new cryptocurrency credibility and in turn increases its value.  Bitcoin Cash’s value has also been bolstered by the increased numbers of miners who have been jumping on board and supporting it.

Ainslie Adds Bitcoin Cash!

As with all cryptocurrencies speculation abounds.  Will Bitcoin Cash ever overtake Bitcoin and become the primary chain?  Only time will tell…

Regardless we have found ourselves where, for now, Bitcoin appears content being the crypto for more serious investment or large transactions by virtue of its unparalleled market cap, history and network effect.  Until the Lightning Network and Atomic Swaps are up and running and there is broader adoption of Segwit, Bitcoin will lack the speed and cost effectiveness of Litecoin and Bitcoin Cash and hence maintain their potential as the go-to coins for everyday transactional use and adoption.

As we’ve written many times, the 5 cryptos we sell all are unique and offer something different to the other and hence provide further diversification within your diversification into digital assets.

1oz Gold Coin 2018 Year of the Dog - Perth MintIssued as Australian legal tender, the reverse of each coin depicts a Labrador Retriever on rocks and featuring a stylised pine tree in the background. The design also incorporates the Chinese character for ‘dog’, the inscription ‘Year of the Dog’ and The Perth Mint’s traditional ‘P’ mintmark. The Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II, the 2018 year-date and the monetary denomination are shown on the obverse of each coin. These magnificent gold coins celebrate the Year of the Dog, one of 12 animals associated with the ancient Chinese lunar calendar. The birth dates for people ruled by the Chinese Lunar dog include 1922, 1934, 1946, 1958, 1970, 1982, 1994, 2006 and 2018. Those born under the influence of this sign are said to be loyal, amiable, kind and friendly. Lunar Year coins are produced in a limited mintage of only 30,000 worldwide each year with a different design each year making them rarer than the Kangaroos which have no limit. Perth Mint coins come encased in a hard clear plastic case to help keep coins in pristine condition. Ainslie Bullion recommends leaving these cases un-tampered for the best preservation of value. The Perth Mint is Australia’s leading precious metal refiner. Backed by the Western Australian Government, The Perth Mint has produced the official bullion coin program since 1987. The Perth Mint also produces a large range of high quality gold and silver bars. All Perth Mint gold products are refined to 99.99% purity and all silver products are refined to 99.9% purity. Ainslie Bullion is a Primary Bullion Distributor for Perth Mint. Coins are a popular choice of bullion given their legal tender status (Government backing of the coin and its metal content), often smaller in size (making for easier disposal in the event of large price increases), international recognition (no fuss tradability overseas) and portability. Another common advantage is mintage limits on many government minted coins meaning a “collectible” premium can often be realised. Caution should be exercised in buying coins over bars for your Super as they can be classified as a collectible and need special storage. Refer to the ATO or your advisor for more information. Coins can make for the perfect gift as you can match the year or Lunar Year to the recipient to celebrate an event. $AU1935.00
1oz Silver Coin 2018 Year of the Dog - Perth MintAvailable singularly, in rolls of 20, or boxes of 100 at a varying discount. Issued as Australian legal tender, each coin’s reverse depicts a German Shepherd dog and pup lying in grass with Chinese peony flowers in the background. The design also incorporates the Chinese character for ‘dog’, the inscription ‘Year of the Dog’ and The Perth Mint’s traditional ‘P’ mintmark. The Ian Rank-Broadley effigy of Her Majesty Queen Elizabeth II, the 2018 year-date and the monetary denomination are shown on the obverse of each coin. These magnificent silver coins celebrate the Year of the Dog, one of 12 animals associated with the ancient Chinese lunar calendar. The birth dates for people ruled by the Chinese Lunar dog include 1922, 1934, 1946, 1958, 1970, 1982, 1994, 2006 and 2018. Those born under the influence of this sign are said to be loyal, amiable, kind and friendly. For earlier year Lunar coins check out our Specials page for hidden treasures. Lunar Year coins are produced in a limited mintage each year with a different design each year making them rarer than the Koalas or Kangaroos which have no limit. Perth Mint coins come encased in a hard clear plastic case to help keep coins in pristine condition. Ainslie Bullion recommends leaving these cases un-tampered for the best preservation of value. The Perth Mint is Australia’s leading precious metal refiner. Backed by the Western Australian Government, The Perth Mint has produced the official bullion coin program since 1987. The Perth Mint also produces a large range of high quality gold and silver bars. All Perth Mint gold products are refined to 99.99% purity and all silver products are refined to 99.9% purity. Ainslie Bullion is a Primary Bullion Distributor for Perth Mint. Coins are a popular choice of bullion given their legal tender status (Government backing of the coin and its metal content), often smaller in size (making for easier disposal in the event of large price increases), international recognition (no fuss tradability overseas) and portability. Another common advantage is mintage limits on many government minted coins meaning a “collectible” premium can often be realised. Caution should be exercised in buying coins over bars for your Super as they can be classified as a collectible and need special storage. Refer to the ATO or your advisor for more information. Coins can make for the perfect gift as you can match the year or Lunar Year to the recipient to celebrate an event. $AU30.72

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