In what will likely end up being a crucial minute in the history of digital money, Bitcoin will split in 2 on Tuesday. Therefore the world’s wagering markets are attempting to make feeling of it all.
A new digital currency will be born on Tuesday, but will Bitcoin Cash solve the key cryptocurrency’s scaling issue plus one day eclipse the value of its parent?
A disagreement in the Bitcoin community has led to a ‚user-activated hard fork,‘ that will lead to the creation of the completely new digital currency, an offshoot of Bitcoin, called ‚Bitcoin Cash.‘
The dispute exists because a big faction of Bitcoiners has needed a way to the currency’s scaling problem. The demand for Bitcoin has soared in recent months as its value reaches an all-time-high. One bitcoin of the volatile digital currency is currently well worth about $2,866, up dramatically from about $607 one year ago, and $96 in the beginning of August 2013.
Wagering on Bitcoin
The uncertainty about the fate of Bitcoin’s value after the next day has sports books such as Bodog, the first betting that is online to simply accept wagers in Bitcoin, establishing lines on the digital currency’s price itself after August 1.
The chances of BTC’s price dropping below $2,000 stood at +350 on while a price remaining between $2,000 and $2,500 stood at -150 monday. Over the weekend, the chances of BTC value surpassing $2,500 stood at +200.