The whole truth about the fork: Bitcoin better than Cash for Bitcoin?

Did you know that Bitcoin Cash came from the Bitcoin? That’s right — the nodes of the Bitcoin Cash was once part of the blockchain the Bitcoin. Bitcoin Cash (BCH) is a fork (fork, fork) of Bitcoin. They are often confused, which is good, of course, a BCH, because its cost far below older brother. What to invest in? What is the difference between Bitcoin and Bitcoin Cash? What is the fork? So many questions that you will very soon find out the answers.

Today you will learn what the difference is between two different cryptocurrencies — Bitcoin, Cash and Bitcoin. You will learn about the history of coins, value and potential in the future. You may choose one of them for investment. You may choose both. After all, if the fork do it’s probably for the best?

Bitcoin Bitcoin vs Cash

Let’s first refresh your memory on the subject of Bitcoin and its background. Then let’s talk about the fork. And then discuss Bitcoin Cash.

Bitcoin was the first cryptocurrency and is not very well known throughout the greater part of its existence. In fact, it is a common currency. You can use it to buy and sell, to pay for goods, services, investment and so on.

The blockchain technology, which underpins Bitcoin, does not allow to hack coin and print or steal it from the system. Also from this it follows that it is not owned by any individual or group of individuals and not controlled by anyone.

The us dollar, for example, supported by the U.S. government and controlled by the banks. In this scenario, the Central side are governments and banks. When you put the dollars, you rely on the Bank, which authorizes and processes the transaction.

Bitcoin, on the other hand, is not issued or controlled by any single entity. Transaction on the blockchain verifierade computers, which keeps the blockchain, and these computers can belong to any blockchain is decentralized.

On the blockchain transactions are stored and transmitted in blocks. Computers will check the whole unit from a transaction immediately, solving a complex math problem. When the problem is solved, the transactions in the block verifierade of creating new bitcoins — they are given to the computer, which solves the problem. This process is called mining.

The total number of Bitcoin that will exist in the world, is limited to 21 million. And despite the fact that produced more than 16 million bitcoins, the last of them will be produced very soon. Because every 4 years the number of bitcoins created per block is halved.

The more people try to understand the subject of cryptocurrencies and the smaller the rate of appearance of new coins, the higher the value. So many people bought and “hadst”.

Today, Bitcoin remains the most valuable cryptocurrency on the market. Although other cryptocurrencies are trying to overtake Bitcoin and to reduce his superiority, no one is even close to getting to that goal. But Bitcoin Cash may be an exception, because the crypt is competing with BTC for the title of “real Bitcoins”

Bitcoin Cash is a Bitcoin fork. What is the fork?

Bitcoin has several forks, but none of them successful as far as Bitcoin Cash. The fork is created when the source code of the blockchain update only some nodes (nod) in the blockchain.

The original blockchain (like Bitcoin) remains the same, and the updated nodes are separated from the original blockchain and create a new blockchain (like Bitcoin Cash). Coins on this blockchain be individual and unique, different from those that were on the original blockchain.

Anyone who kept the original coin at the time the fork will automatically receive its second version. Therefore, when separated from Bitcoin Bitcoin Cash with 10 BTC automatically receive 10 BCH.

What is Bitcoin Cash

Like Bitcoin, Cash Bitcoin is the cryptocurrency with its own bacchanal. It acts as a digital currency, and the new BCH are born in the process of mining. This fork took place in late 2016 which makes it much younger than Bitcoin.

The fork happened for the reason that the Bitcoin developers wanted to make some important changes. The developers of the Bitcoin community failed to come to agreement on some details, resulting in a small group of these developers has created — or rather was Forcola — your version of the code of Bitcoin with some modifications.

The changes that formed the basis of the differences between Bitcoin and Bitcoin to Cash, are as follows:

  • Bitcoin has lower Cash Commission (approximately $ 0.2 per transaction), so to carry out transactions in the BCH is more profitable than to use BTC. Transaction BTC is worth about 1 dollar, and at its peak reached $ 25;
  • Bitcoin Cash can handle more transactions per second. This means that more people can use BCH for the same period of time that they have is the use of BTC;
  • All this is due to the fact that the unit of Cash Bitcoin (the blockchain) is eight times more balinovac unit. This makes BCH faster, cheaper and massturbate than Bitcoin. For the same reasons Bitcoin Cash is gaining momentum and attracting supporters.

Moreover, the BCH community there is a split, and on November 15 the network, the BCH is divided into two separate branches: BCH BCH SV and ABC.

Twice a year the Bitcoin blockchain is experiencing a Cash hardporn, which integrate the scheduled updates of the Protocol. Most of this time the updates happen quietly and blockchain BCH remains one.

But this time the BCH community was divided and could not come to consensus regarding the future of the blockchain BCH.

nChain, the group of the blockchain under the leadership of posing as Satoshi Nakamoto Craig Wright does not agree with the updates proposed by the group of Bitcoin ABC, which is developing a Bitcoin Cash.

So nChain decided to make their own updates to the blockchain BCH, which led to the creation of two independent blockchains November 15.

The Benefits Of Bitcoin Cash

The main advantage of Bitcoin Cash is that it is cheaper and faster to use. Because more people due to scalability can take advantage of bloccano at any given time.

The BCH team quickly implements solutions that will make the blockchain more scalable. And this gives great potential for further dissemination and use.

It is also cheaper to move between exchanges. Whenever the price BCH grows, is born an excellent opportunity to hedge its relatively Bitcoin, if Bitcoin will lose its market dominance in one day.

Disadvantages Of Bitcoin Cash

Bitcoin Cash is not much investor confidence as that of Bitcoin. In addition, the level of approval and market penetration is much lower than BTC. This is largely due to the fact that the coin is much older than the “dinosaur”.

While the price BCH floats around 10-15 percent of the price of BTC, the cost of Bitcoin mining for Cash is relatively the same as the price of Bitcoin mining. This is reflected in the capacity of the network, ensuring the security of the blockchain.

Finally, if we talk about trading, BHC pairs is much smaller than BTC, so the value and traded less.

Bitcoin Bitcoin better than Cash?

As the original cryptocurrency, Bitcoin remains the base currency for the entire cryptostigmata. What about it lining up the pair with other coins (and ETH), and it is traded on any exchanges. Bitcoin is the most popular cryptocurrency, anyway. It is in bitcoins is stored up to half (50%) of the capital of cryptomeria. This is the gold standard for rapidly growing industry.

The biggest advantage a Bitcoin before Bitcoin Cash, it’s his community and a kind of cult: this is the first cryptocurrency, which hears every. She’s super popular.

Worse than Bitcoin Bitcoin Cash?

Disadvantages of Bitcoin compared to Cash Bitcoin are mainly associated with problems of scalability. Bitcoin older, slower and more expensive to handle. Most likely, Bitcoin will continue to hold its dominant position in the growth segment.

Another disadvantage is that the core team of Bitcoin as such does not exist in a unified whole, like Ethereum, for example. It exists in the form of separate groups and without any leader. This greatly complicates the implementation of solutions scalability.

Bitcoin Bitcoin vs Cash: conclusions

Many people think that between Cash and Bitcoin Bitcoin the war in full swing and that must survive only one. But from a practical point of view, Bitcoin Cash is a little more fast and cheap in respect of commissions version of Bitcoin. It is not excluded that both coins will retain its position as the maturation of the market.

BCH can be a major tool for transactions and moving of money if more and more users will use it. Well, BTC will remain a store of value, a kind of analogue of gold in the figure.

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0 Comments on “The whole truth about the fork: Bitcoin better than Cash for Bitcoin?”

  1. You really make it seem so easy with your presentation but I find this matter to be really something that I think I would never understand It seems too complex and extremely broad for me I’m looking forward for your next post, I will try to get the hang of it!

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