INS Up 47% ? On Binance Listing / Bitcoin Cash Network Attack ?

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Today’s episode is brought you to by… KuCoin
https://www.kucoin.com/#/?r=1geMP

If you’ve been having trouble because other exchanges are not accepting new signs up, have a look at KuCoin.
I find their interface very easy to use, they have a full suite of charging tools built in, exclusive coin listings and competitive trading fees.

**Story – INS Trading Begins On Binance**
https://www.youtube.com/watch?v=6KCBDErIa80
Just over a month ago I published this review an the INS Ecosystem, an ICO that was raising money to build a decentralised marketplace for groceries.

The idea is to allow manufacturers to sell direct to consumers and cut out the supermarkets acting like middlemen.
As a quick update for anyone that decided to buy into this ICO, they successfully raised 60,000 Ether and today the token has been listed on Binance.

https://coinmarketcap.com/currencies/ins-ecosystem/#markets
So here is INS Ecosystem on Coinmarketcap and on the markets tab we see the INS token trading against Bitcoin and Ethereum.
The token is currently trading for around $9.79, which is 47% higher than it’s initial price. Happy days.

Not all the ICOs I review perform like this, I know that, but I thought it was only fair to do just a brief follow up in case any of you bought into INS and were not aware of the situation now.
So do with that information what you will.

**Story – Bitcoin Cash Faces It’s First Real Test**
https://fork.lol/tx/txs

If we load up the site fork.lol and compare the number of transactions being broadcast on Bitcoin vs Bitcoin Cash, we see a significant increase in the number of transactions on the Bitcoin Cash network.

This has been increasing for the last 2 days.

And if we look at Coin Dance:
https://cash.coin.dance/blocks
We see a significant number of 8MB blocks being mined.
So what’s going on here?
Has the Bitcoin Cash network started reaching it’s capacity limits due to mass adoption? I don’t believe so no. It’s happened a bit too quickly for that to be the explanation.
I’ve dug around to see what’s going on and the general consensus within the Bitcoin Cash community is that this is an attack. It’s someone intentionally spamming the network.
One of the main arguments against Bitcoin Cash and it’s cheap transactions is that it also makes spam cheap.
You can spam the Bitcoin Core chain but you won’t get your transactions confirmed unless you pay several dollars per transaction.

That’s a negative for the average user but a positive in that spam is more expensive.

So anyway, here is the first real world experiment for Bitcoin Cash.
This is actually excellent news for me because I get sick of all the bravado and the rhetoric.
Now we can witness a real world experiment of how the Bitcoin Cash network handles the type of spam attack that we have seen more than once on the Bitcoin network.

https://bch.btc.com/
The Bitcoin Cash network currently has a pool of 85,000 tx waiting to confirm so stay tuned for updates.

**Story – Market Roundup**
Data provided by:
https://onchainfx.com

Charts provided by:
https://www.coinigy.com/?r=16171fe8

INS Up 47% ? On Binance Listing / Bitcoin Cash Network Attack ?

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Kane Dane