Bitcoin Cash is a cryptocurrency that's generated through mining. It was created after Bitcoin split in two. Bitcoin Cash has been heavily criticized for not possessing any significant technological advantages over Bitcoin. Some are even claiming that it's just a "pump and dump" scheme used to make early investors rich at the expense of latecomers who buy-in at inflated prices, as well as early adopters of Bitcoin who may have missed out on the initial profit-taking opportunity.
What is Bitcoin Cash
Bitcoin Cash is a cryptocurrency created in the aftermath of the Bitcoin hard fork. It is a new branch of the original Bitcoin blockchain and has gone on to become one of the most valuable cryptocurrencies in the world.
Bitcoin Cash was created on August 1, 2017, as a response to Bitcoin’s scaling debate and was activated on November 13, 2018. The currency went live with an updated blockchain that increased its block size from 8MB to 32MB. This gave it much more prominence than it had before and allowed for better scaling of its network.
What is Bitcoin Gold
Bitcoin Gold is a fork of Bitcoin that will occur on October 25th, 2017.
Bitcoin Gold is a fork of the Bitcoin blockchain. This means that it shares a history with Bitcoin until the time of the fork. As of now (October 23rd, 2017) 130 blocks are remaining until the bitcoin gold split takes place and anyone holding bitcoin will receive an equal amount of bitcoin gold. The purpose of this split is to bring about new mining algorithms and make it more difficult for large companies to dominate mining operations and control bitcoin as they do now.
History of Bitcoin Cash - What Happened in August 2017
Bitcoin Cash is a hard fork of Bitcoin that was scheduled for August 2017. It was created to help address the high transaction fees and increase the number of transactions.
On August 01, 2017, ViaBTC mined the first Bitcoin Cash block at 12:20 PM (UTC+8). The mining pool mined 12 blocks in the first hour and 20 minutes.
The goal of Bitcoin Cash is to create a peer-to-peer electronic cash system and focus on low transaction fees.
Bitcoin Cash Saves the Day?
Bitcoin Cash, a new type of cryptocurrency, may be the savior to the Bitcoin community.
Bitcoin Cash is a different type of cryptocurrency from Bitcoin in that it has a bigger block size, which means that transactions go through faster and at a lower cost. It's also more decentralized than Bitcoin, meaning no one person holds all the currency to control it. This decentralization makes Bitcoin Cash more accessible and affordable for any person or business to take part in the trade with other currencies like euros or dollars.
The world of cryptocurrency is always changing and we should be open-minded about new developments in this space!
Disadvantages of Bitcoin Cash Over Bitcoin
The Bitcoin system was designed to be a peer-to-peer currency, with no central authority. This makes it very difficult for governments and other actors to block or track transactions. Bitcoin is an open network, so the code is public and can be copied and modified by anyone.
The advantages of Bitcoin Cash over Bitcoin include the increased block size (max. 8MB), which offers more space for transactions; the ability to maintain transaction costs in BCH (rather than pay high fees in BTC); its shorter confirmation time of about 30 minutes; and larger mining potential, with 4x as many coins available per block mined.
Bitcoin Cash was created on August 1st, 2017 to fix bitcoin’s major issues: low-speed transactions and expensive fees. The success of a hard fork