3 Reasons Bitcoin Cash is Better then BTC

In this Article, we discuss three reasons that Bitcoin Cash has the advantage in this fight. 1. Transaction Fees - 2. Mining Stability - 3. Satoshi's Vision

• Hey guys, its Patrick, with a little short article on three reasons that Bitcoin Cash could beat Bitcoin in the marketplace. As you may know, on August 1st, 2017, Bitcoin Cash forked away from the Bitcoin network and became its own cryptocurrency. Today, they both compete out in the marketplace. Right now, Bitcoin is way ahead in terms of price, but in this article, we're going to talk about three reasons why that might not always be the case. The first reason is probably something you're aware of.

1. Transaction fees

• It is transaction fees. Back in 2015, Bitcoin started hitting its block size limit, which means it was processing as many transactions as it literally could, because of a limit that was programmed into the code.

• That meant that fees started going up, as users of the currency competed to get into that limited transaction space. Well, that's gotten worse and worse over the years. We've seen Bitcoin fees go from 5 cents up to 15, 25 cents, even 50 cents or higher in order to make a transaction on the Bitcoin blockchain.

• Bitcoin Cash is specially designed to remove this problem. It has a much higher maximum block size limit, which means the fees are once again 5 cents, or even less. Bitcoin continues to struggle with congestion and high fees, and so from a consumer point of view, which of these two currencies do I want to use? Bitcoin Cash has the advantage in terms of just being lower cost for the consumer.

2.Mining Stability

• Now the second reason that Bitcoin Cash could beat Bitcoin in the marketplace is a little bit more technical. It has to do with the mining difficulty on the network. Because both networks use the same proof-of-work algorithm, miners can actually switch back and forth between the two blockchains, and mine whichever one is going to be most profitable.

• If they switch to the original network, and Bitcoin Cash doesn't have very many miners, it could experience slow block times, and that's exactly what we saw when it first forked on August 1st. It didn't have many miners, and the blocks were coming out very slowly. That's not a deathblow for Bitcoin Cash, because it has a higher block size limit.

• The transactions will pile up, pile up, and then, when a block is finally found, maybe 30 minutes or an hour later, all of those transactions get added and then they do get processed. So the network does keep moving. Bitcoin (the original Bitcoin) does not have this safety in place. If Bitcoin Cash becomes more profitable to mine, miners could switch over to it to make more money.

• Which means the original chain, with fewer miners, could have slower blocks. Much slower blocks. 15 minutes, 20 minutes, 30 minutes, we could see really, really slow blocks on the original Bitcoin network. And that's very serious for Bitcoin, because it's already at its maximum transaction limit.

• Those transactions that pile up won't be able to get through when a block is finally found, because of that 1MB transaction limit. So if that blockchain starts seeing very slow blocks, congestion could become extreme, the network could slow to a crawl. It doesn't have a safety in terms of difficulty, because of that limited block size, and because the difficulty only adjusts every 2016 blocks.

• So that makes Bitcoin Cash more robust in terms of miners switching between the blockchains, and it remains to be seen whether that's going to be an issue for the original Bitcoin. But it definitely could be.

3. Satoshi's Vision

• The third reason that Bitcoin Cash could beat Bitcoin in the marketplace is very simple. Bitcoin Cash more closely represents the ideology of the creator of Bitcoin, Satoshi Nakamoto.

• Even though Satoshi isn't around today, we actually have a lot of his writing as he was developing Bitcoin. And one of the things he added to Bitcoin, that's no longer there, it's a space for free transactions in every block. He set aside 50kb,and he said, "I don't think we should ever remove this.

• We should always allow free transactions on the network." And this actually has been removed. It was removed after he stopped working on the project. So today, if you put a free transaction out there, not paying any fees, it's not going to get processed.And that's because of Bitcoin, now, it actually kind of has an ideology of: a few transactions with a high amount of fee per transaction.

• But Bitcoin Cash reflects Satoshi's vision of a high number of transactions with very low fees. So those are two ways to see the network. Do you want to support miners with only a few transactions that are high fees or a lot of transactions in the blockchain that are low fees? Bitcoin Cash represents the latter, and that is actually the intention that Satoshi had when he first designed Bitcoin. Now, I know one is going to win is Bitcoin Cash.