Bitcoin Forum

Other => Beginners & Help => Topic started by: Infinixhot1996 on September 18, 2018, 10:05:12 AM

Title: Bitcoin Cash
Post by: Infinixhot1996 on September 18, 2018, 10:05:12 AM
Bitcoin firstly is a cryptocurrency,a form of electronic/digital cash different from the "well known" fiat currencies,but unlike fiat it is without a Central Bank and no single body or group can lay claim to it, though encryption methodologies and feautures are used to regulate the generation of transactions and confirm the  transfer of funds from one individual to another
The digital and decentralized nature of the bitcoin is really a phenomenal and wonderful creation,but it hasn't been without it's own criticisms as regards it's increasing fees and this invariably led to the creation of a hard fork to increase the block size,the bitcoin Cash is a cryptocurrency and also a means of payment related to the bitcoin,to put it in another word it is person to person electronic cash for the internet,wholly decentralized just like the bitcoin with no bank nor Central Bank,it can also be characterised as an Altcoin.

Title: Re: Bitcoin Cash
Post by: Gloverwrt on September 18, 2018, 11:05:39 AM
Hard forks for me are welcome developments in the crypto space, it has little or no effect on ghetto parent currency but still serves as an alternative or in some cases an addition.
Trust holders in GBTC received free bitcoin CASH when bitcoin was forked.
And it also makes for healthy competition.