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Tipping App Gitcash Returns With Plans to ‘Make It Rain’ BCH on Github

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Tipping App Gitcash Returns With Plans to ‘Make It Rain’ BCH on Github
Tipping app gitcash returns with plans to 'make it rain' bch on github

The Gitcash project has re-launched this week after taking a brief hiatus following the bitcoin Cash hard fork. After returning, the Github tipping application has released a new splitting application for pre-fork bitcoin cash and this past ‘Tipping Tuesday’ the Gitcash crew “made it rain” BCH on unsuspecting Github projects.

Also Read: Digital Currency Platform Revolut Receives European Banking License

Gitcash Returns to the BCH Community With a Splitting Tool

Tipping app gitcash returns with plans to 'make it rain' bch on githubIn June, news.bitcoin.com reported on the Gitcash.io platform, an application that enables bitcoin cash (BCH) tipping natively on the Github software development website. After the BCH fork that resulted in a blockchain split, the application took a brief pause, just like other bitcoin cash services at that time. At that point in time, the Gitcash team gave a shout out to BCH infrastructure providers on Nov. 19 who were suffering as a result of “this stupid fork.” Then on Monday, Dec. 14, Gitcash creators announced they were resuming operations and released a new coin-splitting tool for users who wish to separate their BCH and BSV.

“Forkin’ blues got ya down? Us too, but then we re-launched with a bunch of sweet new features, and here’s one now — Deposit the pre-fork coins that you haven’t gotten around to splitting and Gitcash will do it for you,” explained the team’s developers after publishing a video demonstration of the new tool.

Tipping app gitcash returns with plans to 'make it rain' bch on github

Gitcash Leaderboards and ‘Making it Rain’

The following day, in honor of ‘Tipping Tuesday,’ the Gitcash team said they planned on “making it rain BCH on some unsuspecting Github projects.” Additionally, the project published another video on how to use the new ‘explore’ page on Gitcash, in order to find and tip certain Github repositories. The video also demonstrates how repository owners can claim their bitcoin cash. “This feature was created to allow Gitcash users to financially support specific projects while giving the owner a way to disperse the funds amongst the project’s contributors,” the video description details.

In order to use the Gitcash application, users simply log in with their Github account and there are no separate passwords involved. Gitcash account funding can also be done with any BCH wallet or imported private keys. The project has a leaderboard showing statistics like the Gitcash application’s top earners. At the moment the most tipped users on Github include ‘Maplesyrupsucker,’ ‘Seanwarman,’ and ‘Cgcardona.’

Tipping app gitcash returns with plans to 'make it rain' bch on github

Spreading bitcoin Cash Adoption

On Thursday, Dec. 13, the Gitcash crew thanked a user for “identifying a pesky bug” for the team and told the platform’s Twitter followers to check out the user’s remote mining tool. The Github user’s project is called a Full Cycle Mining Controller, which is a workflow message bus microservice architecture for bitcoin mining. This type of open source community support is what the Gitcash project is all about, and its main objective is to spread BCH adoption. The developers have emphasized that the Gitcash software is free and the team covers operational expenses by donations from the community. “This service only exists to spread the use of bitcoin cash and motivate others to be inspired by it as we’ve been,” the Gitcash website declares.

What do you think about the Gitcash team re-launching the Github tipping platform this week? Let us know in the comments section below.

Images via Shutterstock, Gitcash, and Twitter. 

At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

The post Tipping App Gitcash Returns With Plans to ‘Make It Rain’ BCH on Github appeared first on Bitcoin News.

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Gold Mine Worth More Than Bitcoin’s Entire Market Cap Found in China

A gold mine discovered in China’s Shandong province is reported to have a potential value of more than $22 billion USD or more than the entire market cap of bitcoin. 

Eureka!

Announced by the Shandong Gold Group Co. at a press conference on March 28, 2017, it is believed to be China’s largest gold deposit in history, People’s Daily Online reports.

The discovery is located in the Laizhou-Zhaoyuan region of northwest Jiaodong Peninsula, east China’s coastal province of Shandong. The region’s special geological characteristic helped form the country’s major gold deposits cluster, which is home to China’s largest gold reserves and production.

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According to reports, the deposit is over 2,000 meters long with thickness of up to 67 meters. The amount of gold reserves is prospected to be at 382.58 tons with an average gold grade of 4.52 g/t.

In two years, it is expected that the mine will yield 550 tons of gold with an estimated value of over $22 billion (150 billion RMB). Moreover, at full capacity of 10,000 tons per day, the Shandong mine can produce gold for the next 40 years.

‘Digital Gold’ More Scarce Than Gold

bitcoin is often referred to ‘digital gold’ as it’s increasingly exhibiting store-of-value properties similar to the precious metal. (The argument over which gold — digital or physical — will be worth more in the future was already covered here.)

It should be noted, however, that while gold is known for its scarcity, bitcoin is considerably more scarce at just 21 million units that are also called bitcoin (with a small “b”) or BTC. Both are used as a hedge against inflation and both are the pinnacle of their asset class.

The recent discovery in China, however, raises the supply of the precious metal, currently worth around $1,250 per ounce. Previously, gold above-ground stocks were estimated at 183,600 tons according to the World Gold Council, putting gold’s market capitalization at over $8 trillion compared to bitcoin’s $17 billion.

Orocoin

Admittedly, this is still a drop into the gold supply bucket and it will be interesting to see how this news will impact the gold price. At the same time, the possibility of discovering more physical gold persists, marking two key differences between the two asset classes.

First, the supply of bitcoin is forever capped at 21 million digital units. This controlled supply is agreed upon by all of its users and plays a major part in bitcoin’s price discovery across global exchanges.

Second, bitcoin’s emission schedule is set in stone, which means everyone knows when and how much bitcoin will be in existence at a specific moment in time (currently north of 16 million).

On the other hand, the supply of physical gold is ever expanding as more deposits are found on earth, and potentially even more, with the advancement of mining technology, on other planets and asteroids in the future. Also, discoveries could happen unexpectedly, which could have an unforeseen negative impact on gold price.

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Recently, the price of one bitcoin surpassed that of a gold troy ounce, leading economists such as Holger Zschaepitz to call it a “defining moment in history.”

This is probably an arbitrary comparison, however, as the price of bitcoin must get to about $500,000 per coin to match the gold market. The rising demand for “digital gold” — and the concept of “digital scarcity” as a whole — should become an increasingly attractive idea to investors as we delve deeper into the digital age.

You can read more on the correlation between Gold and bitcoin in this article.

Would you rather have physical Gold, bitcoin or both as an investment? Share your thoughts below! 

Images courtesy of Shutterstock, Twitter 

The post Gold Mine Worth More Than Bitcoin’s Entire Market Cap Found in China appeared first on Bitcoinist.com.

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