Bitcoin cash is essentially another branch of Bitcoin. It was inaugurated on August 1st, 2017 by a group of miners who were frustrated by how Bitcoin was working. The miners who created Bitcoin Cash wanted it to be the main Bitcoin, but that’s not what happened. The majority of people drifted towards Bitcoin, and that’s why it became superior to Bitcoin Cash. If you bought Bitcoins after August 1st, 2017, you might just be having Bitcoin Cash. And if you had your Bitcoins on exchanges before and after August 1st, 2017, you don’t have Bitcoin Cash because most exchanges said that they would not be implementing Bitcoin Cash until January 2018.
The rocky start of Bitcoin Cash
Bitcoin Cash investors benefited a lot from the launch of Coinbase. But it came with some controversies. Bitcoin has now begun investigations to determine if those investors had inside knowledge to benefit from the news. Also, in the course of the launch, Bitcoin experienced lots of service outages, as well as liquidity issues. During the launch, Bitcoin Cash price rocked to $8, 500 on Coinbase, while other exchanges were selling it at $3,500.
During the Bitcoin Cash launch, Bitcoin price dropped in value by 10% after Coinbase said that it would be supporting Bitcoin Cash. The act by Coinbase caused many Bitcoin investors to transfer their Bitcoins to Bitcoin Cash.
Will Bitcoin cash overtake that of Bitcoin
Because many exchanges and individual business owners drift towards Bitcoin, Bitcoin Cash has not come even close to matching the value of Bitcoin. But with the volatility of cryptocurrencies, anything can happen. The original Bitcoin can fall off, and Bitcoin Cash can skyrocket in value. However, at the moment, Bitcoin Cash doesn’t look good.
The main differences between Bitcoin and Bitcoin Cash.
While there are no major differences between Bitcoin and Bitcoin Cash, you should know that Bitcoin and Bitcoin Cash are two completely different cryptocurrencies.
Bitcoin Cash lacks the ‘’replace by fee’’ functionality
Bitcoin Cash is the perfect example of electronic cash. It makes payments of Bitcoins easier, directly and cost-effectively. On the contrary, Bitcoin is now seen as a store of value. It’s well-suited for those who want to store Bitcoins for the long term.
Bitcoin Cash has lower transaction fees compared to Bitcoin.
Bitcoin has a larger community than Bitcoin Cash, which means it has more wallets and it’s supported by more exchanges than Bitcoin Cash.
In terms of security and scalability, Bitcoin reigns supreme because it had a lot more mining infrastructure and support behind it.
— territoriobitcoin (@territoriobtc) 24 de febrero de 2018