I ran a test of Bitcoin vs Bitcoin Cash on FEES & TRANSACTION TIME
I decided to run a test today, comparing the fees and transaction times for Bitcoin and Bitcoin Cash transactions at the same time. Yesterday I interviewed Roger Ver of Bitcoin Cash in a "1st on Steemit" interview, which you can check out here: https://steemit.com/dtube/@davidpakman/zp9x9utr
Two of his primary selling points around Bitcoin Cash were cheaper and faster transactions than Bitcoin, and I decided to test those two variables today.
At 4:03pm eastern US time, I started transactions for both Bitcoin and Bitcoin cash withdrawals from the same exchange.
The Bitcoin transaction arrived and confirmed at 4:45pm, a total of 42 minutes in transaction time.
The Bitcoin Cash transaction arrived and confirmed at 5:54pm, a total of 111 minutes in transaction time.
The fees for the Bitcoin transaction were .001 BTC, or U$D15.85 at the time of the transaction.
The fees for the Bitcoin Cash transaction were 0.00001980 BCC, or U$D0.0686 at the time of the transaction.
Winner: Bitcoin Cash
For my two transactions, both initiated at 4:03pm eastern time today, the Bitcoin Cash transaction was 99.56% less expensive, but took 164% longer to confirm and make the funds available.
For future transactions, my decision would be: Is it worth paying an extra $15.78 to complete the transaction in 62% less time?
How will both fees and transaction time evolve over time? Are there particular reasons this one Bitcoin Cash transaction took so long? Any other thoughts? Please let me know in a reply!