Bitcoin Rival Accused of Trying to Artificially Boost Its Price
Bit coin Cash is the hottest cryptocurrency around right now for more reasons than you may imagine.
The offshoot of the biggest digital token has surged about 25% since Friday, in part because Ant-pool, one of the largest mining groups, is “burning” a portion of the coins it receives in exchange for solving the complete mathematical puzzles that serve as the backbone of the network, potentially reducing supply and driving up the value.
The maneuver is the latest salvo in an escalating battle between backers of Btc and Bitcoin Cash, which was spun off last year. Through a war of words playing out on Twitter and Facebook, some of the largest holders of both cryptocurrencies are attempting to influence the coins’ prices after seeing significant losses since last year.
"Ant-pool has burned $12 worth” of Bitcoin Cash a day, said Kyle Samani, managing partner at the Austin, Texas-based crypto hedge fund Multicoin Capital, in an email. "This was purely a PR game so they could say ‘reducing supply
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