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Author Topic: Bitcoin Cash what are your thoughts?  (Read 1665 times)
Abiky
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October 13, 2020, 07:05:09 PM
 #161

Don't think this coin is in play for now

The market focus more DEFI/Yield Farming now instead of forks/tech coins
I think Bitcoin cash will eventually phased off overtime

I don't think Bitcoin Cash will disappear anytime soon, considering that it has a proven track record of development and innovation over 3 years now. While the focus is on "De-Fi" right now, traditional cryptocurrencies are still in the spotlight. Since Bitcoin Cash is the most widely-successful Bitcoin spinoff, it'll be able to stand the test of time. The rest of the Bitcoin forks (like Bitcoin SV, Bitcoin Diamond, and Bitcoin Gold) will go down the drain faster than you could imagine.

Nonetheless, Bitcoin Cash has been active in development and innovation since it came into inception back in 2017. It's been slowly distancing itself from the original Bitcoin by adopting innovative features like CashShuffle, CashAddr, and Avalanche consensus (coming soon). While I'm not quite fond of a huge block size for scalability (as it increases centralization), BCH does a good job as digital cash for the world. For people who prefer convenience on top of decentralization/censorship resistance, Bitcoin Cash is the cryptocurrency of choice. No matter how far Bitcoin Cash gets in mainstream adoption, it'll never be able to overcome the original Bitcoin (BTC). That's largely because Bitcoin (BTC) is the original cryptocurrency which started it all. It may not be as scalable as Bitcoin Cash, but its level of security and reliability is beyond compare. Bitcoin can be used as a store of value, while Bitcoin Cash can be used as digital cash for cross-border payments at a fraction of the cost. For different purposes in life, will be the type of cryptocurrency to use for mainstream payments. I'd say that Bitcoin Cash will survive for many generations as long as it continues providing development and innovation, backed by a vibrant community promoting its adoption in the mainstream world. Just my thoughts Grin

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October 13, 2020, 07:29:41 PM
 #162

At first, I held the view that BCH is a shitcoin. However, that changed when in a training, it was discovered that BCH is just another BTC in the making. Check out the SLP projects being developed on the bitcoin cash protocol. There transfers are lightening speed and very cheap.


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Abiky
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October 17, 2020, 08:42:12 PM
 #163

At first, I held the view that BCH is a shitcoin. However, that changed when in a training, it was discovered that BCH is just another BTC in the making. Check out the SLP projects being developed on the bitcoin cash protocol. There transfers are lightening speed and very cheap.

As I've said before, it all depends on an specific person's perception about Bitcoin Cash more than anything else. Since crypto politics often prevail in the Blockchain space, Bitcoin supporters quickly misjudge Bitcoin Cash without doing their own research about the project. In my case, any project that's active in development and innovation with real use cases for the mainstream world, will be able to last for long. And Bitcoin Cash meets such criteria even if Bitcoin supporters don't agree with the path the project has taken for scalability. Any project will have its supporters or critics, as each person has its own perception about it.

With all the latest features implemented into Bitcoin Cash (CashShuffle for privacy, CashAddr for human-readable addresses, and the upcoming Avalanche consensus mechanism for increased performance), serious investors could find it as an attractive alternative to the main Bitcoin blockchain. Bitcoin Cash has done even better than Bitcoin SV by providing features that distances itself from Bitcoin (BTC). The latter (BSV) has only increased the block size to more than 1 GB. But it hasn't provided innovation in order to distance itself from the original project. Bitcoin Cash's SLP feature allows anyone to issue and manage tokens on the Blockchain just like it's done with Ethereum today. The only difference between token transactions on BCH vs ETH is faster confirmation times and cheaper fees on the former Blockchain network. BCH could gain an advantage to ETH in this regard.

Nonetheless, there's one thing about Bitcoin Cash which is often criticized. And that's the high level of centralization because of a higher block size capacity. As such, Bitcoin Cash will never be able to compete or even replace Bitcoin directly. It'll always be an alternative cryptocurrency that will gather the likes of people looking to sacrifice decentralization on top of convenience/ease of use. Depending on your needs, will be the type of cryptocurrency to use for mainstream payments. Whenever Bitcoin Cash or Bitcoin is a good investment, it's up to you to decide. As long as you do your own research instead of making decisions based on other's opinion, you'll be able to avoid many undesired losses in the long run. Remember to play safe, and you'll be able to survive in the wild and crazy world of crypto. Just my opinion Smiley

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