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What is Bitcoin Cash and how Read.cash and Noise.cash made my days brighter

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Written by   48
9 months ago

It's been awhile since I started using read.cash. At the beginning I was very skeptical about this platform that I discovered during my research about the crypto-world. But that was just the beginning. Step-by-step I started to have more followers and more readers for my articles. I am a specialist in geo-politics but with this occasion I started to post about crypto also.

Read.cash brought me face-to-face with Bitcoin Cash or BCH. I knew nothing about BCH, I only heard at that time about Bitcoin and Ethereum. So, I wondered why there is another crypto-coin, different than Bitcoin, with the word "bitcoin" in its name? Due to this, I've decided to share with you what I've discovered about BCH. It's not a professional post, because I'm not a crypto-expert. I will share with you my understanding of BCH and I apologize in advance if I make mistakes. You are more than welcome to correct me if and when I'm wrong.

So, let's start!

What is Bitcoin Cash?

Following my research, I found out the BCH was created as a response to the long-running debates within the Bitcoin community about what is the best way to scale Bitcoin to multiple users. The easiest solution was Bitcoin Cash.

Even though the dimension limit of a Bitcoin block is one megaoctet or one megabyte (MB) and allows approximately 250.000 transactions every day, Bitcoin Cash raised this limit to 8 MB. Consequently, the number of transactions was raised to almost 2 million each day. That's hell of a change!!

It was hard for me at the beginning to understand what the actual difference is between BTC and BCH, but it's all about the protocol (I'm honest at this point and I tell you that I've spent many days trying to understand what a protocol is and what actually does). BCH protocol allows more transactions per seconds which actually means faster payments and low fees. Who doesn't want that :)?

How it started?

On the 1st of August 2017, Bitcoin Cash Hard Fork, which is the Bitcoin blockchain, divides into two new blocks: Bitcoin and Bitcoin Cash. The Fork Blockchain means that until the blockchain separated, both BTC and BCH had the same identity. After the separation, called Fork, we have two distinct crypto-currencies, each one with its own distinct features.

This was the most amazing finding. When the separation occurred, all Bitcoin owners automatically became BCH owners too.

Why Bitcoin Cash is wonderful for the world? for which I praise the developers for creating it

Speed: transactions are made in just a few seconds and confirmations are made in just a few minutes.

Bitcoin Cash is reliable. It is made as a network that functions without obstacles.

You can send money in exchange of small fees. That means that using BCH is very cheap.

BCH is simply to use and also the project is very intuitive.

All my readings confirmed that Bitcoin Cash is very reliable and the history of BCH payments strengthened this impression. Its efficiency has already been proved.

Bitcoin Cash is backed by a blockchain technology, which is the most solid in the current crypto-market.

It's also safe and payments are secured.

The most important advantage is that BCH is still at the beginning and there is a long way in its evolution. I read that the developers want to increase the 8 MB limit.

How can we buy BCH?

Currently, each individual can buy Bitcoin Cash through derivative financial instruments, such as CFDs or contract for difference trading. I heard that it's pretty much easy to speculate, either buying or selling Bitcoin, and to win (or lose). It's nice that when speculating you don't need to actually have the whole capital required for the trade. The gain or the loss is represented by the difference in value of a specific crypto-currency at two moments: when the market closes and before that, when the user places the transaction.

I think I covered most of the basics regarding BCH. I'm still exploring Bitcoin Cash and when I discover more, I will come back with an update.

As for me, following the posts published on Read.cash, but also due to the activity on noise.cash, I managed to collect a small fraction of one Bitcoin Cash.

It's nice to have it and my goal is to further publish more articles here so that I can have more BCH. I believe that the future is very bright when it comes to BCH and who knows, maybe I will have some BCH and the price will explode soon.

See you soon!

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Written by   48
9 months ago
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Comments

Goodluck to our journey

Club1BCH

We 💚 BCH

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9 months ago

Thaaanks. I hope I get 1 pretty soon, haha.

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9 months ago

Me too, I'm hoping.

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9 months ago

We learned a lot on read.cash. Many wonderful people in one place who help. Happy to the goal!

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9 months ago

Yes, indeed. Good luck too.

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9 months ago

I think, I should make time to learn and study about cryptos especially Bitcoin Cash. Thank you for sharing this article.

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9 months ago

Thanks for reading. It's interesting to do research on such topics.

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9 months ago

I read that the developers want to increase the 8 MB limit.

The developers are diligent and have already increased the limit to 32 MB in 2018. They have also developed many other useful things and continue to develop. Here you can check it:

https://cash.coin.dance/development

This is also a difference to Bitcoin BTC. There is no development in Bitcoin BTC.

$ 0.00
9 months ago

Aha. Ok, I will check it out. Thanks for sharing

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9 months ago

Good luck in your journey

Club1BCH

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9 months ago

Yep, thanks a lot friend.

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9 months ago

Awesome post! This is about how deep my knowledge goes for Bitcoin and Bitcoin Cash as well. I like both cryptos. But for me, $BCH is more of a store of value for me where as my $BTC is my risky gamble asset. 😆

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9 months ago

You made quite a good point. I may have missed this vision in my research. I will definitely keep in mind what you just told me. Thanks !!!

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9 months ago