Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Cash Forum => Topic started by: Niko on September 28, 2018, 10:07:11 AM
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History
Rising fees on the bitcoin network contributed to a push by some in the community to create a hard fork to increase the blocksize. [14] This push came to a head in July 2017 when some members of the Bitcoin community including Roger Ver felt that adopting BIP 91 without increasing the block-size limit favored people who wanted to treat Bitcoin as a digital investment rather than as a transactional currency. [ 15] [16] This push by some to increase the block size met a resistance. Since its inception up to July 2017, bitcoin users had maintained a common set of rules for the cryptocurrency. [15] [12] investors, entrepreneurs, developers [15] and largely China based miners were unhappy with bitcoin's proposed SegWitimprovement plans intended to increase capacity and pushed forward alternative plans for a split that created Bitcoin Cash. [11] ] The proposed split included a plan to increase the number of transactions its ledger can process by increasing the block size limit to eight megabytes. [15] [16]
The would-be hard fork with an expanded block size limit was described by hardware manufacturer Bitmain in June 2017 as a "contingency plan" should the Bitcoin community decide to fork; the first implementation of the software was proposed under the name Bitcoin ABC at a conference that month. In July 2017, the Bitcoin Cash Name was proposed by mining pool ViaBTC.
In 2018 Bitcoin Core developer Cory Fields found a bug in the Bitcoin ABC software that would have allowed an attacker to create a block causing a chain split. Fields notified the #DevelopmentTeam about it and the bug was fixed. [17]
The research firm Chainanalysis noted that in May 2018, 17 largest payment processing services such as BitPay, Coinify, and GoCoin processed Bitcoin Cash payments worth of US $ 3.7 million, down from US $ 10.5 million processed in March. [18]
Bitcoin Cash is also referred to as Bcash. [19]
Trading
Bitcoin Cash trades on digital currency exchanges including Bitstamp, [20] Coinbase, [21] Gemini, [22] Kraken, [23] and ShapeShift using the Bitcoin Cash name and the BCH ticker symbol for the cryptocurrency. A few other exchanges use the BCC ticker symbol, although BCC is commonly used for Bitconnect. On 26 March 2018, OKExremoved all Bitcoin Cash trading pairs except for BCH / BTC, BCH / ETH and BCH / USDT due to "adequate liquidity. "[6] As of May 2018, daily transaction numbers for Bitcoin Cash are about one-tenth of those of bitcoin. [6]
By November 2017 the value of Bitcoin Cash, which had been as high as $ 900, had fallen to around $ 300, much of that due to people who had originally held Bitcoin selling off the Bitcoin Cash they received at the hard fork. [14] On December 20, 2017 it reached an intraday high of $ 4,355.62 and then fell 88% to $ 519.12 on August 23, 2018. [24]
Payment service providers
As of August 2018, Bitcoin Cash payments are supported by payment service providers such as BitPay, Coinify and GoCoin. [18]
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Bitcoin cash has progressed successfully over the years and it has become very popular with the high growing support from many crypto enthusiasts.
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Good read.
The one thing I know for sure.
Bitcoin cash is the most successful hard fork ever.
The price of bitcoin reached up to $3,800 per coin during the last market bull run.
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it is absolutely true that many other bitcoin and crypto use as long-term investments rather than transactions, and bitcoin investment is very profitable.
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Also, Bitcoin Cash was created to overcome two of the major challenges being faced by Bitcoin. These two aspects have a significant impact on Bitcoin Cash price prediction, so let’s take a quick look at them:
Scalability: Due to the huge rise in popularity, Bitcoin has started to face some serious scalability issues. Bitcoin’s network is currently only able to processing 7-10 transactions per second.
Bitcoin Cash solves this problem by increasing the “block size”. This allows Bitcoin Cash to process a higher number of transactions per second when compared to Bitcoin.
Cost of transactions: Transaction fees are a major concern for Bitcoin users. Currently, the average transaction fee for Bitcoin is around $1.31, whereas it sits around $0.125 for Bitcoin Cash
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Its history is that BitcoinCash has a positive image when it was first created and when it was created Bitcoin Cash has forgotten its parent.
Lots of words from Roger Ver who said and made statements that were not suitable for the continuity of Bitcoin, as these words will be remembered very well until the end of life.
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if I think now bitcoin cash will also provide better prices in the long run, because now the development of bitcoin cash prices is also good and also has more profitable developments every day. so I'm sure the price of bitcoin cash will also provide better value in the future
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if I think now bitcoin cash will also provide better prices in the long run, because now the development of bitcoin cash prices is also good and also has more profitable developments every day. so I'm sure the price of bitcoin cash will also provide better value in the future
I also believe that the future is in Bitcoin cash, what do you think, what cryptocurrency will become a leader in the future?
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Bitcoin cash is a cryptocurrency created in August 2017, arising from a fork of Bitcoin Classic. Bitcoin Cash increases the size of blocks, allowing more transactions to be processed. Now if you need you can change this cryptocurrency in exolix.com.