Bitcoin CASH Is The REAL BITCOIN

Bitcoin cash is the real bitcoin, that is the topic of this video.

Bitcoin Cash is set to overtake Bitcoin as the true Bitcoin for various reasons including, a significant improvement in the scalability of the block size.

What a larger block size looks like
It can help to visualize what a larger block size looks like. Here are two snapshots of a few hours in the mempools of bitcoin and Bitcoin Cash. The mempool is where pending transactions are stored while they wait for a miner to hook them up to a block and make the transaction happen.

Specifically, these are what the two mempools were doing between about 4-8 p.m. Eastern time on December 20, 2017.

Other differences are in the mining algorithms. At its inception, Bitcoin Cash had an easier mining algorithm.

WHAT’S MINING DIFFICULTY?
Mining difficulty refers to how quickly a block can be discovered and attached to the blockchain. To solve a block, the miner needs to spend processing power on solving a complex math problem.

By making the problem easier, blocks can be mined faster. By making it harder, blocks are mined slower.

On the bitcoin and Bitcoin Cash blockchains, fast and easy blocks are good for transaction times, but not necessarily good for the currency in the long run.

This is because miners are rewarded with newly minted coins for solving these problems and finding new blocks. If it’s too easy, the currency faces escalating inflation rates and gets devalued.

Which is best?
Each is good at a different thing.

What are the advantages of bitcoin?
The high fees and slow transaction times of the original bitcoin are a deliberate but somewhat unfortunate design choice.

It’s intended to keep the coin rare, challenging and valuable. The bitcoin community and developers are banking on bitcoin being a “store of value” for cryptocurrency as a whole, just like gold underpins the US dollar and other fiat currencies. No one actually uses gold as a currency, but it still offers liquidity and value.

The idea is that bitcoin could be digital gold.

What are the advantages of Bitcoin Cash?
Bitcoin Cash was deliberately split away from bitcoin by a team that thought high fees and slow transactions would eventually destroy bitcoin. It was deliberately designed to essentially be bitcoin, except easy to send, receive and transact with.

Hence the “cash” part of its name. It was designed to be the spending money next to bitcoin’s gold.

Will Bitcoin Cash overtake bitcoin?
No one can say for sure, but you’ll find a lot of strong opinions in both directions. However, bitcoin’s transaction functionality seems to be the main issue.

For example, the first major Bitcoin Cash growth spurt came at the start of November 2017, following the news that the bitcoin B2X hard fork was cancelled. This hard fork was intended to solve some of bitcoin’s transaction problems. When it was called off, people argued that the growth came from users trading their BTC for BCH.

The second major growth spurt came around the end of December 2017 when the bitcoin mempool had been clogged up (as above) for the better part of a month and there was growing dissatisfaction with bitcoin’s yet-to-be-released Lightning Network.

You will need to decide whether bitcoin’s transaction functionality will continue to affect Bitcoin Cash’s growth as well as consider what will happen if bitcoin ever solves these problems.

This presentation contains images that were used under a Creative Commons License. Click here to see the full list of images and attributions:

https://link.attribute.to/cc/392746

Great Video For You To Watch –
The Depression Is Almost Here And Crypto Is About To Skyrocket
https://www.youtube.com/watch?v=bERVwYQDOOw

▶DONT CLICK THIS – https://tinyurl.com/yxqww933

FREE WEBINAR: Make 100,000x Massive Profit From Crypto
http://tinyurl.com/y52fnrxh

LearnMe Course –
Creating Your Own Online Course Business That Will Earn Massive Profit
https://www.learnme.today/

#BitcoinCash #Bitcoin #AngryGuy
===================================================
Cryptocurrency Courses –
http://tinyurl.com/yy9by6ve
====================================================
Social Media Links:
https://www.instagram.com/angryguytalk/
Patreon: https://www.patreon.com/angrymgtow (exclusive content)
=====================================================
About The Angry Guy Channel –
This channel specializes in teaching you about cryptocurrency, crypto, crypto tips, wealth building tips, passive income, making money from home, work from home, and of-course, how to retire early.
======================================================

Bitcoin CASH Is The REAL BITCOIN

Related Post:

About The Author

Kane Dane