Business 17 January 2018

Jasmine Solana

CoinGeek.com mines first Bitcoin BCH block

Antiguan-based CoinGeek.com Mining Division has successfully mined the first Bitcoin Cash (BCH) block.

According to data from Blockchair, CoinGeek.com mined BCH block height #513210 on Jan. 16, 2018 at 18:49 UTC. At the time of writing, 845 miners are hashing for CoinGeek.com, which is equivalent to about 11.5 PH/s. More CoinGeek.com miners are expected to come on stream in the coming weeks.

Contrary to the “miner” description on Blockchair, ViaBTC is not mining for CoinGeek.com—the miners are only using ViaBTC’s mining management software to mine on CoinGeek.com’s machines. All of the Antiguan-based mining’s hash will have CoinGeek.com in the block descriptor.

The CoinGeek.com mining operation is spearheaded by Antiguan citizen Calvin Ayre. An early and vocal advocate of Bitcoin BCH, Ayre invested significantly in both hardware and software in order to build the hash rate of BCH and highlight the all-important scalability of the chain. Ayre will mine only Bitcoin BCH, the true remaining Bitcoin as intended by the Satoshi whitepaper.

“This is the first step in a whole host of activity in the BCH space that we are rolling out this year,” Ayre said, noting that CoinGeek.com is also “embarking on a full merchant adoption marketing program” to explain why BCH is the only option for low-fee micropayments.

Because it is now becoming more and more expensive to spend, the only use left for the SegWit (BTC) chain and its cryptocurrency is to become an institutional value transfer system, although it will be an inefficient one compared to Bitcoin Cash—the only technology positioned to enable the shifting of eCommerce to Bitcoin Commerce (bComm).

To explain more about bComm, CoinGeek.com is hosting a Bitcoin conference devoted to what the world will look like with massive on-chain scaling on one public blockchain. The inaugural conference, which will take place at the Four Seasons Hotel in Hong Kong on May 18, will be focusing specifically on merchant adoption of the best micropayment solution with the lowest fees for both vendor and buyer.

The latest updates on the Antiguan-based CoinGeek.com’s hash can be found here.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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