Bitcoin Cash is a sensitive subject in the crypto community. But if you like drama, then it could be the cryptocurrency for you. Bitcoin cash is a worldwide network that anyone can use to send money anywhere in the world from London to Cairo from Lagos to Mumbai from berlin to Caracas and everywhere in between bitcoin cash is decentralized.
Government money and bitcoin cash
you control your money government money stops at the border. Government money charges fees and you lose money with the exchange rate when sending it from one country to another country. Government money is easy to seize it is always losing value through inflation hyperinflation is always a risk and it can even be discontinued such that the paper loses all value but bitcoin cash keeps going bitcoin cash works the same no matter what the country. you're in as long as you have internet access bitcoin cash crosses borders as if they didn't exist with no extra fee bitcoin cash is global money that works everywhere and you don't need anyone's permission to start using it. Bitcoin Cash is peer-to-peer microelectronic cash with bitcoin cash you control your money with the traditional bank your account can be closed or your money frozen but with bitcoin cash, no one can close your account it's permissionless to use bitcoin cash. You don't need anyone's permission ever send and receive money anytime anyplace almost for free start a business trade your bitcoin cash spend it donate it to save it.
There is no central authority that demands you fill out forms or provide identification bitcoin cash operates outside of the nation-state and outside of the corporate world. Bitcoin cash is internet money that millions of people have adopted and are building on bitcoin cash is permissionless. You don't have to ask anyone's permission to buy hold send or receive bitcoin cash not governments corporations bureaucrats nor warlords nor clerks bitcoin cash is free to use no limits no lines just sound money for the world so you can send remittances to spend across borders build your business and help build a world full of prosperity and opportunity bitcoin cash is for everyone everywhere and to prove it bitcoin cash charges almost nothing to send a transaction receiving transactions is always completely free bitcoin cash is a new form of money the predictable emission schedule that is freed from the manipulation and corruption of the nation. States banks and other legacy middlemen bitcoin cash is a digital ledger and programmable money. You can build apps on top of it that solve problems for people in the real world and earn yourself new income in the process bitcoin cash is ready for new builders.
Bitcoin and bitcoin cash
in 2017, Bitcoin saw a huge spike in popularity. It was too much for the network and it started to see longer transaction times than people would have liked. This limited its use as a way of use for things in ordinary life. There are several solutions offered. One faction, primarily made up of Bitcoin miners and advocates, like Roger Ver, thought the solution was to increase the block size from one megabyte to eight megabytes. The idea was that this would allow more transactions to be processed per block and speed things up a bit.
This faction lost the argument, however, with others believing that the larger block size would mean weaker security. They decided instead to leave with a hard fork and Bitcoin Cash was created with its own blockchain and larger block size. The scalability debate didn't end there, though. In May 2018, another major update took place and the block size was increased even further to 38 megabytes. In November 2018, the Bitcoin Cash network experienced its own hard fork, and Bitcoin SV was created. So how do they differ? Well, like pancakes and waffles, Bitcoin and Bitcoin Cash share many ingredients, but different in some key ways. But the real difference between the two, it's more to do with philosophy than technology. The Bitcoin community prioritize being censorship-resistant, decentralized, permissionless, and trustless. The Bitcoin Cash community view is that consumer mass adoption of Bitcoin takes precedence over decentralization.
By converting your fiat money into digital currency such as Bitcoin Cash (BCH), you become your own bank, you do not need permission to perform a transaction from any third party, no fear of getting abandoned because there is no third-party (such PayPal) involved. While holding digital currency, you hold the whole power to it. Transaction fee is also so low that you can happily buy a coffee with it on the go.
You can even generate your own SLP token in Bitcoin Cash (BCH) wallet use it to generate interest off of it without requiring any permission from, let's say, a bank.