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Review on Bitcoin Diamond by Robert Frueh
When Bitcoin Diamond was launched it quickly surged to $94, but it’s never…
When Bitcoin Diamond was launched it quickly surged to $94, but it’s never returned to that level. In fact, it has been slowly declining and as of July 23, 2018 it has a value of $2.20. Note that on this day it is roughly 50% below the previous session price. Even so it has a market capitalization of nearly $350 million and is ranked #42 on Coinmarketcap.com. The reason for the seeming pump and dump over the past several days is the listing of the BCD token on HitBTC on July 16.
Pros
- Bitcoin Diamond has helped decentralize mining – The centralization of Bitcoin miners has been an ongoing problem, but Bitcoin Diamond doesn’t suffer from this problem. The main reason is that it split from the SHA-256 algorithm that is controlled by ASIC miners and moved to a GPU-mining friendly algorithm.
Cons
- Bitcoin Diamond has advantages, but nothing comes without risks, and Bitcoin Diamond is no exception. If you’re thinking of getting involved with Bitcoin Diamond it’s important that you’re aware of potential risks.
