After the creation of Satoshi Nakamoto's White Paper in October 2008, in which he explains about electronic money and that no third party is needed to perform a completely decentralized person-to-person transaction, i.e. it does not depend on any political entity or government and does not need to use intermediaries such as central banks or commercial banks.
Approximately in 2015, a war broke out between two opposing communities within the Bitcoin ecosystem in which the advocates of making progressive changes to the Bitcoin protocol to improve its capacity and thus manage to accommodate a greater demand in its system avoiding trends that increase the centralization of mining and, on the other hand, the advocates of a drastic increase in Bitcoin blocks to solve the collapse of the network.
However, because the scalability problem was persistent and increased when processing a large number of transactions on the Bitcoin network a sustainable solution was sought, so the community split in two. Unable to be able to find a compromise, a fork was implemented that concluded with the birth of Bitcoin Cash on the first day of August 2017 , with blocks of 8 MB as opposed to the 1MB blocks of Bitcoin Core.
So, now that they are not part of the same ecosystem what makes them different? And why should Bitcoin Cash today be worth more than $10,000?
To start and put into context what happened, Bitcoin Cash was a fork created in the wake of the original Bitcoin. That is, the cryptocurrency resulting from the world's first Blockchain. A public, decentralized registration system that provides the security of transactions through the aforementioned blockchain, however each of these transactions, although they were constantly updated, could not process an amount greater than 1 Megabyte of data every 10 minutes, a time that was useful in its beginnings but that made Bitcoin operations difficult when demand increased. As a result, people had to wait hours and even days to complete transactions on the Bitcoin Blockchain.
Faced with this problem, the community of miners and developers agreed that the technology needed to be improved. Therefore, they set August 1, 2017 as the date of agreement to decide the method of exchange, as a result of which Bitcoin Cash is created.
The Bitcoin Cash cryptocurrency believes that larger transaction blocks will solve the scalability problem. The more transactions that enter a block, the faster transactions will be processed. Starting with 8MB per block but over time the block size has increased with its current size being 32MB. This makes it possible for more transactions to be processed faster and for a cheaper fee. This is the major fundamental difference between Bitcoin and Bitcoin Cash.
From here we will evaluate the reasons why Bitcoin Cash should not have the current price but should have 700% more capitalization
Digital money with very low commissions, meaning that anyone in the world can use it to buy a pizza, a coffee, a house or send any amount of money from anywhere in the world.
Communities. In addition to having pages, communities and specialized social networks in which you can get your own earnings in Bitcoin Cash such as Read cash, #Noisecash, #Memocash, #Coingigs, #Satoshiangels, Bitcoin Cash House, #Bitcoincashsite, #Whybitcoincash.com, among others. However, being the cryptocurrency that fulfills Satoshi Nakamoto's dream of an electronic economy to which anyone on planet earth has access to the global financial system using only their phone or computer to access their wallet or an exchange in which to buy and sell their cryptos securely. In some of these communities there are people who have earned thousands of dollars in Bitcoin Cash and just by manifesting their talent and knowledge. great personalities in this social network such as @RogerVer @emergent_reasons @georgedonnelly @MarcDeMesel @ErdoganTalk @btcfork and very important, a community that is really active and cares about the continuity of the company's business.
Institutional Adoption. Thousands of people around the world already use Bitcoin Cash as their currency and thousands of businesses or companies already have it as their payment method and this can be seen in the different Bitcoin Cash maps but something more important is the research done by very serious financial institutions that today use Bitcoin Cash as part of their transaction technology such is the case of Paypal, Coinbase, Binance, among others.
Funding and technology development. More than (4,000,000,000) million dollars have been distributed among different projects to improve the technology such as BCH Nodes, SLP Foundation, thousands of meet ups around the world, the Electron Cash wallet, Flipstarter, Fundmecash, Sideshift.ai, Purse.io and now more recently the launch of the SmartBCH network.
Also another positive aspect of Bitcoin Cash is its mining that is much less polluting than others, leading to more people interested in looking at it and finally and what we love about bitcoin cash is that their transaction fees are low giving everyone the opportunity to use it and have it on hand as a form of payment anywhere and to handle large amounts we will have the total security and backup of our money and the best care and support.
Therefore, we can conclude that the Bitcoin Cash cryptocurrency has a much more efficient and effective operation compared to Bitcoin Core. Also being Bitcoin Cash the most attached to the philosophy of the creator Satoshi Nakamoto responsible for the invention of Bitcoin with his popular technical white paper. For them, the BTC should be an electronic cash and not be reduced to become "digital gold" which is what has been changing in recent times and Bitcoin Cash has become a means of exchange and deposit of great value worldwide that has been growing more and more despite his young age in turn there are many ways to get it, not only in their specialized social networks but also buying it as it is listed on the largest exchanges in the world.
For this reason Bitcoin Cash deserves to have a great value because it gives us so many good things that it will soon become the most used worldwide.
Today Bitcoin Cash has all the conditions to have a market value of more than $10,000. Now, the question is why it does not have that real value? We will leave it for a future post.
Great article, don't forget the BitcoinCash blockchain can also run the Simple Ledger Protocol (SLP) for tokens and NFTs. BCH isn't just a better coin it is overall better blockchain technology.