Bitcoin Cash has one of the most advanced features in any cryptocurrency — a transaction fee that helps us make small to medium-sized transactions quick and secure. That's why it’s also the most popular choice for high-quality digital currencies, such as crypto. Bitcoin Cash was created to solve security problems related to the creation of new coins and is now widely used by online stores, trading platforms, payment providers, and other institutions offering digital assets.

Bitcoin Cash Coin (BCC)

The primary technology behind BCC is its Proof of Work consensus. This process relies on miners producing blocks that are then verified by network participants using their proof of work in order to confirm transactions. The only time they can be changed is when an upgrade is made to the blockchain software.

Bitcoin Cash will not be able to increase its amount of global circulation unless it’s given permission to do so. So like Bitcoin, it’s limited to 21 million addresses. All of these addresses are located in Canada. There are currently 12 different mining pools where you can mine BTC with your PC, though there’s the option to join in multiple ones at once if you want to. And you can use them like Amazon Web Services. But we’ll talk about those later in this post.

Bitcoin Wallet & Coinbase Account

The reason I feel that Bitcoin Cash wouldn’t be useful for large-purpose users is because of what happens when you need to deposit money and get access to the wallet. For instance, someone could have a business account that allows him access to his funds from a bank account or a company account. Then he could create some sort of a cryptocurrency wallet, maybe from another service provider, and store some BTC in there instead. Or he could give access to his bank account and exchange those BTC for BTC, perhaps through Bitter. That would be how people can trade between exchanges (and even exchanges like eToro), but probably only for ETH. They won’t hold Bitcoin again. Bitcoin, after all, is based on trust, right?

However, the bigger issue that you have in terms of safety with Satoshi Nakamoto and the protocol itself is that the user can change his Bitcoin address easily, while the Bitcoin value keeps growing. It’s very easy to send BTC from your own Bitcoin wallet to whatever wallet you chose as shown in Figure 1 below and then spend BTC there. If you wanted to send 50 BTC to your personal BTC wallet and you can get 10 BTC back within the same transaction, you’ll probably just go to another wallet and keep holding onto ten BTC.

Figure 1. A simple way to send BTC from one wallet to another. You don’t want to see the BTC in Figure 1.

But wait, let me explain… we can’t forget that Bitcoin accounts from banks and payments systems are also subject to changes in currency exchange rates. This is an important feature because we can choose which currency we want to play with if we’re sending an account and if we want to try something else in our Bitcoin wallet. Remember this? Only you know what currency is available in your Google Pay wallet, right? In addition to Bitcoin, many other currencies are available, including Dash, Litecoin, Ethereum, Zcash, Monero, XRP, and QTUM. In the case of a traditional banking account, several other financial services such as credit cards, bank deposits, ATM cards, debit cards, and money transfers — are also accessible. To be more specific, each account can only send $1,000 worth of USD per month, so each account can only send a maximum of $1,000 in a year. However, you can still transfer the balance to another account every day. Now imagine you want to move to a platform with your $100,000 worth of BTC held in a single account — that might take a few weeks or months. In my opinion, BTC can’t be a stable currency anymore, right? Well, that’s just what’s happening. Each coin will grow over time, but I’ll show this later on in this article. Maybe it will turn out to be a good idea to change from ETH to BTC to avoid going into debt. Who knows!

Now suppose you want to start a private ICO for Bitcoin Cash, and you can raise 20,000 ETH in 2 days. As soon as a team starts working on your project, you can buy some BTC to help your vision come true. After the contract is signed, you can use any Bitcoin Cash wallet for the transfer, so there’s no question of being seen as “investing in a scam”. What’s your plan, right now? How much money would you need to fund the journey and what kind of hard cap do you want? Is BTC the best cryptocurrency to invest in? How much do you think BTC will grow? Would anyone be willing to loan you some? Are you sure you can deliver on your promise? Should you wait or should you invest immediately?

As you can imagine, not everyone wants to invest immediately and take risks. We all want to have something that we trust and someone who is willing to follow our instructions. That’s when things get tricky, especially when you want to get advice and support. Here I guess it comes down to timing and luck. No one can predict what will happen tomorrow or the next day. Don’t worry about the future — you can only focus on yourself and your goals.

If anything is possible in life, you’re not sure what’s really up in the universe. Everything might seem impossible until you really think about it.

To be honest, I love having Bitcoin on my side. At least, this is what I’ve been doing since January 6th, 2018, and I’m excited to see what the future holds.

Thank you for reading this article, please consider your feedback. Thanks for keeping me motivated. Take care and stay safe.

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