Bitcoin vs Bitcoin Cash

[JollyGood]

If Bitcoin Cash had some revolutionary feature, maybe it could overtake bitcoin. But now because of its huge recognizability, I think bitcoin will always be ahead.

I fail to see what was to be gained by creating BCH. There was no need to dilute the crypto world more with more forks. This was one coin we could have done without but those holding it for free after the fork are happy as they have money for nothing.

[Shenzou]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

The whole poorhouse of Bitcoin cash was to continue the road map set when bitcoin was first created, and that is by making "on-chain scaling" to allow the global adaptation of bitcoin, all these false promises made got people so hyped up so they started holding and buying bitcoin as much they can, thinking after the launch the price will go skyrocketing, but it was just another disappointment that they used to gain more money, in fact it made it worse, after the fork the transactions started becoming slower and miner fees got to crazy numbers, making using bitcoin for any thing nearly impossible.

[maarx]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

Though these two are under a same family, it would have a its own competition with other coins. As BCH value is higher than other top 5 coins, bitcoin would still drive it to be the top ones amongst all other top currencies. I have been watching bitcoincash value for past two months. It has been healthy and strong.

[tanxingwo1215]

Bitcoin Cash has an advantage over BTC in terms of transfer speed and transfer fees!

With the development of Bitcoin Cash, it may be possible for Bitcoin Cash to overtake Bitcoin as the dominant currency.

[Beparanf]

Bitcoin Cash has an advantage over BTC in terms of transfer speed and transfer fees!

With the development of Bitcoin Cash, it may be possible for Bitcoin Cash to overtake Bitcoin as the dominant currency.

It might be impossible for now, Bitcoin Cash came from Bitcoin, it might be used as an alternative in making transactions but not to the point that it will surpass BTC unless BTC been too expensive again and Bitcoin Cash will show the ability to rise in value like BTC did before,then bitcoin cash can be noticed easily.

[richfinch]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

Thank you for your information, I will give some more information about this
By Jake Frankenfield | Updated February 1, 2018 — 6:00 AM EST
 
Since its inception, there have been questions surrounding Bitcoin’s ability to scale effectively. Bitcoin is a cryptocurrency that exists within a network of computers, within the blockchain. This is revolutionary ledger-recording technology. It makes ledgers far more difficult to manipulate for a couple of reasons: The reality of what has transpired is verified by majority rule, not by an individual actor. And this network is decentralized; it exists on computers all over the world.

The problem with this technology is that it’s slow. Like, really slow, especially in comparison to banks that deal with credit card transactions. Visa processes 150 million transactions per day, averaging out to roughly 1,700 transactions per second. And their capability far surpasses that, at 24,000 transactions per second.

How many transactions can the Bitcoin network process per second? Seven. Transactions take about 10 minutes to process. And as the network of Bitcoin users grows, waiting times will get longer, because there are more transactions to process without a change in the underlying technology that processes them.

The latest debates around Bitcoin’s technology have been concerned with this central problem of scaling and increasing the speed of the transaction verification process. There are two major solutions to this problem, either to make the amount of data that need to be verified in each block smaller, making transactions faster and cheaper or to make the blocks of data bigger, so that more information can be processed at one time. 

*** The Difference Between Bitcoin and Bitcoin Cash
In mid July 2017, mining pools and companies representing roughly 80% to 90% of Bitcoin computing power voted to incorporate a technology known as a segregated witness, called SegWit2x. SegWit2x makes the amount of data that needs to be verified in each block smaller, by removing signature data from the block of data that needs to be processed in each transaction, and having it attached in an extended block. Signature data has been estimated to account for up to 65% of data processed in each block, so this is not an insignificant technological shift. Talk of doubling the size of blocks from 1mb to 2mb in November has ramped up, and is expected. This would also go some ways in improving Bitcoin’s scalability. In mid-October, Bitcoin scientists from Bitcoin Unlimited revealed they had mined the world's first 1GB block, 1,000 times bigger than the normal size.

Bitcoin Cash is a different story. Bitcoin Cash was started by Bitcoin miners and developers equally concerned with the future of the cryptocurrency, and its ability to scale effectively. These individuals had their reservations about the adoption of a segregated witness technology, though. They felt as though SegWit2x did not address the fundamental problem of scalability in a meaningful way, nor did it follow the roadmap initially outlined by Satoshi Nakamoto, the anonymous party that first proposed the blockchain technology behind cryptocurrency. Furthermore, the process of introducing SegWit2x as the road forward was anything but transparent, and there were concerns that its introduction undermined the decentralization and democratization of the currency.

On August 1st, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: Bitcoin Cash. Bitcoin Cash has implemented an increased block size of 8mb, to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it. This has raised concerns about the security of Bitcoin Cash.

(For more on cryptocurrency, read: Does Crypto Have Intrinsic Value? It Depends (https://www.investopedia.com/news/does-crypto-have-intrinsic-value-bitcoin-ethereum/)

[StevenPop]

Bitcoin is the obvious winner in this debate. There isn't even a debate if you ask me. There really isn't much use for bitcoin cash as there is for bitcoin. bitcoin cash is just a way for the developers to make some quick money.

[JollyGood]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

Thank you for your information, I will give some more information about this
By Jake Frankenfield | Updated February 1, 2018 — 6:00 AM EST
 
Since its inception, there have been questions surrounding Bitcoin’s ability to scale effectively. Bitcoin is a cryptocurrency that exists within a network of computers, within the blockchain. This is revolutionary ledger-recording technology. It makes ledgers far more difficult to manipulate for a couple of reasons: The reality of what has transpired is verified by majority rule, not by an individual actor. And this network is decentralized; it exists on computers all over the world.

The problem with this technology is that it’s slow. Like, really slow, especially in comparison to banks that deal with credit card transactions. Visa processes 150 million transactions per day, averaging out to roughly 1,700 transactions per second. And their capability far surpasses that, at 24,000 transactions per second.

How many transactions can the Bitcoin network process per second? Seven. Transactions take about 10 minutes to process. And as the network of Bitcoin users grows, waiting times will get longer, because there are more transactions to process without a change in the underlying technology that processes them.

The latest debates around Bitcoin’s technology have been concerned with this central problem of scaling and increasing the speed of the transaction verification process. There are two major solutions to this problem, either to make the amount of data that need to be verified in each block smaller, making transactions faster and cheaper or to make the blocks of data bigger, so that more information can be processed at one time. 

*** The Difference Between Bitcoin and Bitcoin Cash
In mid July 2017, mining pools and companies representing roughly 80% to 90% of Bitcoin computing power voted to incorporate a technology known as a segregated witness, called SegWit2x. SegWit2x makes the amount of data that needs to be verified in each block smaller, by removing signature data from the block of data that needs to be processed in each transaction, and having it attached in an extended block. Signature data has been estimated to account for up to 65% of data processed in each block, so this is not an insignificant technological shift. Talk of doubling the size of blocks from 1mb to 2mb in November has ramped up, and is expected. This would also go some ways in improving Bitcoin’s scalability. In mid-October, Bitcoin scientists from Bitcoin Unlimited revealed they had mined the world's first 1GB block, 1,000 times bigger than the normal size.

Bitcoin Cash is a different story. Bitcoin Cash was started by Bitcoin miners and developers equally concerned with the future of the cryptocurrency, and its ability to scale effectively. These individuals had their reservations about the adoption of a segregated witness technology, though. They felt as though SegWit2x did not address the fundamental problem of scalability in a meaningful way, nor did it follow the roadmap initially outlined by Satoshi Nakamoto, the anonymous party that first proposed the blockchain technology behind cryptocurrency. Furthermore, the process of introducing SegWit2x as the road forward was anything but transparent, and there were concerns that its introduction undermined the decentralization and democratization of the currency.

On August 1st, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: Bitcoin Cash. Bitcoin Cash has implemented an increased block size of 8mb, to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it. This has raised concerns about the security of Bitcoin Cash.

(For more on cryptocurrency, read: Does Crypto Have Intrinsic Value? It Depends (https://www.investopedia.com/news/does-crypto-have-intrinsic-value-bitcoin-ethereum/)

I read this thoughtful post from you but still concluded BitcoinCash was not a well thought out way forward and in the end it was not necessary. For those advocating benefits of BitcoinCash over Bitcoin it seems to me hollow and greed rather than technical grace and community benefit.

Nice reading, thank you because it was good to read a well informed post.

[SimpeleSimpele]

bitcoin still the best
all crypto curency include BCH(bitcoin cash), is never above bitcoin about volume transaction and price

[JollyGood]

bitcoin still the best
all crypto curency include BCH(bitcoin cash), is never above bitcoin about volume transaction and price

I have to agree with this based on evidence available so far. I see no reason why Bitcoin will be dethroned any time soon and cannot see Bitcoin Cash holding much capital because most BCH holders received them for free because they had Bitcon during the fork, sooner or later they will cash in or exchange them for Bitcoin.

[Elsie123]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

Bitcoin Cash was created with the purpose of "redivision of spheres" of influence and changes of some principles of infrastructure operation in the world of crypto currency. In the future, the original bitcoin will develop faster than fork.

[Menawi12]

Rather than bitcoin cash, I am prefer choosing bitcoin. Bitcoin as marker leader have big volume and its more liquid. Beside that, many expert said that bitcoin will become common currency in internet for transaction

[ralle14]

It's just another mineable altcoin, I remember few months ago when there was a huge price increase in bitcoin cash a lot of miners suddenly moved to mining bitcoin cash for a day or two after that bitcoin transactions started piling up. I guess it's all about money nowadays.

The currencies are similar in many ways. They both hold value, allowing you to spend them on all sorts of goodies or use them for investment purposes. What makes them different is that Bitcoin Cash has a block size limit of 8 MB — eight times more than Bitcoin.

Even with bigger block size limit people still prefer bitcoin over bitcoin cash. The only thing I see bitcoin cash becomes useful for is when you want to buy a mining rig from bitmain since it's the only crypto they accept afaik.

[Alopu]

When it comes to speed and price for Bitcoin vs Bitcoin Cash, Bitcoin Cash has an advantage over Bitcoin. It is becoming extremely popular among users and has been increasing in value even since its introduction. But like Bitcoin, it has its share of problems. The increased block size could have a centralizing effect and reduce the attack resistance of the network. Bitcoin hasn’t been around for long, so we’ll have to wait until it sees more daily transactions to find out if that will actually happen.
So in comparing Bitcoin vs Bitcoin Cash, the truth is Bitcoin Cash is not better or worse than Bitcoin. It’s just different. The two can co-exist on the market, along with many other cryptocurrencies including Ripple and Ethereum, to name a few. But the important thing to remember is that despite having similar names, they are two entirely separate currencies.

[JollyGood]

When it comes to speed and price for Bitcoin vs Bitcoin Cash, Bitcoin Cash has an advantage over Bitcoin. It is becoming extremely popular among users and has been increasing in value even since its introduction. But like Bitcoin, it has its share of problems. The increased block size could have a centralizing effect and reduce the attack resistance of the network. Bitcoin hasn’t been around for long, so we’ll have to wait until it sees more daily transactions to find out if that will actually happen.
So in comparing Bitcoin vs Bitcoin Cash, the truth is Bitcoin Cash is not better or worse than Bitcoin. It’s just different. The two can co-exist on the market, along with many other cryptocurrencies including Ripple and Ethereum, to name a few. But the important thing to remember is that despite having similar names, they are two entirely separate currencies.

Some many coins have faster transaction times than Bitcoin and other 'benefits' but they have not come close to overtaking Bitcoin. The only benefit I see that those behind Bitcoin Cash could have been that they will have equal coins (btc/bch) after the fork effectively doubling their money for a short period before Bitcoin Cash price dropped.

[Jones chen]

I will choose Bitcoin. After all, bitcoin has a very good user base.If there is no bitcoin, who knows what bitcoin cash is?

[DmitFomin]

I believe that Bitcoin Cash will never approach Bitcoin in terms of price and popularity. Yes, he has a team that raises his price thanks to his influence on the media, but I believe in the ever-growing community of this Bitcoin.

[JollyGood]

I believe that Bitcoin Cash will never approach Bitcoin in terms of price and popularity. Yes, he has a team that raises his price thanks to his influence on the media, but I believe in the ever-growing community of this Bitcoin.

Influence by virtue of media by the whales seems a very good categorisation of the whole situation.

[BitcoinLoan]

I believe that Bitcoin Cash will never approach Bitcoin in terms of price and popularity. Yes, he has a team that raises his price thanks to his influence on the media, but I believe in the ever-growing community of this Bitcoin.

Influence by virtue of media by the whales seems a very good categorisation of the whole situation.

From the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block. The purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.

[JollyGood]

I believe that Bitcoin Cash will never approach Bitcoin in terms of price and popularity. Yes, he has a team that raises his price thanks to his influence on the media, but I believe in the ever-growing community of this Bitcoin.

Influence by virtue of media by the whales seems a very good categorisation of the whole situation.

From the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block. The purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.

Yes that is correct but going by market cap figures it seems there was no need for it as majority of bitcoin holders did not adopt bitcoin cash. So maybe the 8MB increase was a red herring that was used by whales to try to double their money overnight if they managed to force through the fork.