Btc vs bch

7 36
Avatar for Mitch123
3 years ago
Topics: Bitcoin Cash

Did you know that Bitcoin Cash comes from Bitcoin itself? That's right - the Bitcoin Cash node was once a part of the Bitcoin blockchain. Bitcoin Cash is a Bitcoin fork.

But which of the two should you choose to invest in? What is the difference between Bitcoin Cash and Bitcoin? What is a "fork"? There are many questions, and I am here to answer them all!

You will learn more about their history, value and their potential for the future. After that, you should decide which one you want to invest in, or if you want to invest in both.

These days, there are many legitimate online offers that give a huge advantage to cryptocurrency investors where they get double their invested cryptocurrency on platforms like www.underatedcryptos.store. These are the opportunities that need to be fully utilized to the maximum.

First, let’s take a look at Bitcoin and its background. Then, I will explain what a fork is. After that, we will look at the story behind Bitcoin Cash and its features.

If you are familiar with Bitcoin and Bitcoin Cash and are just here for a comparison, skip the section labeled Bitcoin Cash vs. Bitcoin: The War of The Prices!

Bitcoin

Bitcoin was the first ever cryptocurrency and for many years it was unknown. It's like any other real money. You can use it to buy, sell and trade for goods, services, investments and more.

Its blockchain technology prevents it from being counterfeited. It also means that it is not owned, issued or controlled by any one single group or party.

For example, the US dollar is issued by the US government and regulated by banks. In this situation, the central party is the government and the banks. When you transfer the dollar to a friend, you rely on the bank to authorize and process the transaction.

Bitcoin, on the other hand, is not issued or controlled by any central authority. Blockchain transactions are authenticated by computers running the blockchain, and these computers can be owned by anyone - the blockchain is decentralized.

In the blockchain, transactions are stored and submitted in blocks. Computers validate entire blocks of transactions at once by solving a complex math problem. Once the problem is solved, block transactions are verified and a new Bitcoin is created - it is provided to the computer that solved the problem. This process is called mining!

The total number of Bitcoin that ever existed is limited to 21 million. Even if there are more than 16 million Bitcoin, it will be a long time until the number of Bitcoin reaches 21 million! This is because every 4 years, the amount of Bitcoin created per block is cut in half.

As more people try to get their hands on some Bitcoin and the rate of creation decreases, the common belief is that the value increases. That is why many people are crazy about Bitcoin today!

Today, Bitcoin is the most important cryptocurrency currently on the market. While other currencies are trying to outperform Bitcoin and reduce its dominance in the digital-coin sector, few are approaching. However, Bitcoin Cash may be an exception to that because of the difference between Bitcoin and Bitcoin Cash!

Just as Bitcoin Cash is a Bitcoin fork, I will explain what a fork is before I explain Bitcoin Cash!

A Fork

There are many few forks, but none are as used or also known as Bitcoin Cash. A fork is created when the original code of a blockchain is updated but only a few of the nodes (computers) on the blockchain receive the update.

The original blockchain (like Bitcoin) remains the same, and the updated nodes separate from the original blockchain and create a new blockchain (like Bitcoin Cash) and the coins in the blockchain become separate and unique from those in the original blockchain.

Anyone holding the original coin at this time fork will automatically get the fork version of the coin they are holding. Thus, when Bitcoin is earned with Bitcoin Cash, a person with 10 BTC will automatically receive a certain number of BCHs matching the value of their 10 BTC.

Now, let’s talk about Bitcoin Cash itself!

Bitcoin Cash

Like Bitcoin, Bitcoin Cash is a cryptocurrency with its own blockchain. It works like a digital currency and new BCH (Bitcoin Cash) was created by mining Bitcoin Cash. It was created at the end of 2016, making it younger than Bitcoin.

Bitcoin was forked to create Bitcoin Cash because Bitcoin developers wanted to make some important changes to Bitcoin. The developers of the Bitcoin community could not agree on some of the changes they wanted to make. So, a small group of these developers met Bitcoin to create a new version of the same code with some modifications.

The changes that make all the difference between Bitcoin Cash and Bitcoin are these:

Bitcoin Cash has a cheaper transfer fee (around $ 0.20 per transaction), so making BCH transactions will save you more money than using BTC. A BTC transaction can cost around $ 1 USD per transaction, even if it used to go up to almost $ 25 per transaction!

BCH has faster transfer times. So, you do not have to wait the 10 minutes it takes to verify a Bitcoin transaction!

BCH can handle more transactions per second. This means that more people can use BCH at once than they can with BTC.

All of these changes are due to the fact that a Bitcoin Cash block (on the blockchain) is eight times larger than a Bitcoin block. This makes it faster, cheaper and more scalable than Bitcoin. Bitcoin cash is becoming more and more popular day by day.

Bitcoin Cash vs Bitcoin: The War of Prices

As mentioned earlier, cryptocurrencies like Bitcoin or Bitcoin Cash derive their value from how much they have adopted, used and demanded. We can analyze them in terms of ROI (return on investment) and value growth.

They both hold value, and while Bitcoin is the owner of the most valuable value to date, Bitcoin Cash is gaining users and the value is fast.

Bitcoin Cash is less than a year old. Thus, it is still in the stage of acquiring and recognizing its own place in the crypto market. Many people thought that Bitcoin Cash could take a good share of the Bitcoin market share, making it the new dominant crypto in the industry. This is because Bitcoin Cash discusses the scaling issues Bitcoin faces, allowing more people to use it more easily and lower fees.

If the Bitcoin developer community does not find a way to agree on an update to each other in the Bitcoin code to fix its problems, it could be lost in the war between BTC vs BCH. This means more people are likely to switch to using BCH as their primary store of value and transactional currency.

In the past, Bitcoin Cash has been worth as low as 5% of Bitcoin, up to 33%. It currently remains within the range of 10-15% of the Bitcoin price. Below are the charts of BCH vs BTC prices over the past nine months.



One of the things that holds the rapid growth of BCH is the confusion of people between Bitcoin and Bitcoin Cash. Many newbie investors see Bitcoin Cash as a cheaper Bitcoin with a lower entry point in the market. This is because they share the same name and come from both branding and community.

The confusion also led to Bitcoin Cash receiving negative attention as a copycat copy that was a simple cash grab, aimed at catching new crypto investors into buying a fake Bitcoin. However, this is not true.

BCH is not fake Bitcoin, but it could very well be a better one.

Bitcoin Cash vs Bitcoin: The Features

Bitcoin Cash Advantages

The main advantage of Bitcoin Cash is that it is cheaper and faster to use. This is because it is more scalable, which means more people can transact with the blockchain at any time.

Its development team is rapidly implementing solutions that make the blockchain more scalable. Which gives it a potential future for adoption and use.

It is also cheaper to switch between exchanges. Whenever its price goes down, it is a great asset to trade against Bitcoin and a solid investment to guard against Bitcoin, Bitcoin should lose market dominance in a day.

Bitcoin Cash Losses

Bitcoin Cash does not have as much investor confidence as Bitcoin. Also, the rate of adoption and penetration of the market is lower than that of Bitcoin. This is related to the fact that this coin is newer than Bitcoin.

While the price of BCH is around 10-15% of the price of Bitcoin, the cost of Bitcoin Cash mining is pretty much the same as Bitcoin mining. This means that someone who mines Bitcoin Cash makes 50-60% less profit than someone who mines Bitcoin with the same equipment. For this reason, miners are not as fast as the Bitcoin Cash mine.

Finally, when it comes to trading, BCH has fewer trading pairs than BTC, making it more convertible than Bitcoin. All of these disadvantages work towards making Bitcoin Cash adoption rates and prices lower than Bitcoin.

Advantages of Bitcoin With Bitcoin Cash

As the original cryptocurrency, Bitcoin was the currency base of the entire sector. This is what all other cryptocurrencies (as well as ETH, most of the time) exchanged and traded on most exchanges. Bitcoin is the most popular and has the most trading pairs of other cryptocurrencies.

Number 23rd

March 2018, Bitcoin makes up 44.5% of the entire crypto-sector capital and is considered the Gold standard of a fast-growing industry.

The biggest advantage of Bitcoin over Bitcoin Cash is the community and as such the following worship: this is the first cryptocurrency to be heard. It's super, super popular - if your grandma knows about a cryptocurrency, I'll bet you $ 100 it's Bitcoin!

Bitcoin Deficiencies In Bitcoin Cash

The disadvantages of Bitcoin compared to Bitcoin Cash mainly take into account the scalability issues that Bitcoin faces. Bitcoin is older, slower and costs more per transaction. It is likely that as the sector grows, Bitcoin will continue to lose dominance over other coins.

Another disadvantage is that the main development team Bitcoin is not united like other crypto teams, such as Ether, for example. They appear to be divided as a group and lack clear leadership.

This makes it harder to implement scaling solutions that agree and implement on the network - not good at all!

Bitcoin Cash vs Bitcoin: Where Can They Buy You?

One of the most popular exchanges to buy both Bitcoin and Bitcoin Cash is

Coinbase

8
$ 0.01
$ 0.01 from @Her-bert
Sponsors of Mitch123
empty
empty
empty
Avatar for Mitch123
3 years ago
Topics: Bitcoin Cash

Comments

A fork is more like making a new currency out if the old one. So in a way BCH is a fork of BTC. Thank you

$ 0.00
3 years ago

Thank for the great comment

$ 0.00
3 years ago