Latest BCC News, ViaBTC Temporarily Halts BCC Withdrawals, Thoughts on Potential Future Price Movement
ViaBTC Temporarily Halts BCC Withdrawals
After a rather extended 8 hour halt of all BCC withdrawals, ViaBTC once again enabled bitcoin cash outbound transactions.
ViaBTC is at present, the fourth largest exchange by BCC volume (if both BCC/BTC & BCC/CNY trading pairs are factored in).
Whether the reason cited is valid or not, it did draw attention from several outside sources.
Yet another malleability attack! Whew, it's a good thing segwit activates in…
Oh right, #Bcash dev task #1 was to delete most of segwit. https://t.co/WsB6crB3ob
— Peter Todd (@petertoddbtc) August 5, 2017
Segwit only fixes malleability for some specific transactions. This is good enough to enable tech like LN, but not to prevent this attack.
— Deadal Nix (@deadalnix) August 5, 2017
When a network is under a malleability attack if allows users to change the transaction id without making them invalid it becomes very easy
— De Cryptografter (@DeCryptografter) August 5, 2017
There are numerous older articles explaining in detail what a malleability attack exactly is, and why it can cause severe problems for any respectable crypto currency blockchain. It is basically a way to change the tx id and thus double spent the coins. Following articles can help you learn more about it:
Thoughts on Possible BCC Price Movement Moving Forward
Even though we are waiting for other exchanges to credit BCC (primarily referring to poloniex), there is still a high degree of uncertainty, as to how everything will exactly play out in regards to both chains. Exchange support is spotty at best; Kraken for example is not allowing deposits of BCH, other sites allow only withdrawals and so on.
A descending channel has formed, with hourly volume remaining stable for now. The 30-day moving average has crossed over the 200-day MA, this would be considered highly bullish, if both MA’s were not overlapping at present. In the best case, it can be observed as slightly bullish to neutral overall, which lines up with the current status of the Bollinger bands. Neither the upper nor lower bands have been breached; the gap between both appears to be tightening, so we may be entering a period of increased price volatility.
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