A Post About Bitcoin Cash

in crypto •  2 years ago 

While hitting up my local crypto ATM the other day I saw they had added a third coin (after Bitcoin and Litecoin) they added Bitcoin Cash. I though they would have chosen Ethereum as the third but they went with BCH.

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What is Bitcoin Cash?

Bitcoin Cash is the fourth largest crypto by market cap. It is currently valued at $861.49. It was started from a hard fork in August 2017 to address issues in scaling. Bitcoin had become something people hoarded for value instead of being something people used for transactions. Bitcoin Cash was supposed to be different with low fees and quick transactions times.

They should have just chosen another name, in my opinion. When people with no expertise in Crypto see Bitcoin Cash they may think it's the original Bitcoin. I don't like that, it's kind of scammy. Calling the OG Bitcoin "Bitcoin Core" just adds to the confusion, it sounds like a third coin. And the logo flat out ripped off the real Bitcoin logo. And people like Roger Ver keep saying it's the "real Bitcoin". If a coin is good it shouldn't require all this shady deceit.

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With all that said, I still may buy some, maybe. I still don't see what Bitcoin Cash does that Litecoin doesn't. Do you own any? Tell me in the comments why I should buy some. I would rather see people investing in altcoins than a slightly faster Bitcoin clone that doesn't bring anything innovative to the table.

Bitcoin Cash haters are vocal

A "Bitcoin Entrepreneur" named Jonathan Hamel addressed the Canadian House of Commons Standing Committee on Finance and called Bitcoin Cash a "scam". That is a pretty bold statement. I imagine BCH supporters are pretty angry it was made during such a high profile speech.

https://discover.coinsquare.io/government/bitcoin-entrepreneur-slams-bitcoin-cash/

Sample of some online hate against Bitcoin Cash, Bcash as a name really angers some supporters...
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Lots of Anti BCH posts online like this https://www.bestbitcoinexchange.net/why-bcash-is-a-scam/

So what does the future hold for Bitcoin Cash?

I guess that is the 64 thousand dollar question. It looks like it is here to stay. Will the new Lighting Network make Bitcoin fast enough that people chose Bitcoin over BCH? It seems LN has more nodes than Bitcoin Cash
https://www.bitsonline.com/lightning-network-nodes/

People have predicted the demise of the original Bitcoin many times, I personally don't think its going to be Bitcoin Cash that does it. Let me know what you think in the comments.

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image source: https://coinmarketcap.com/currencies/bitcoin-cash/

Official site: https://www.bitcoincash.org/

Wikipedia page: https://en.wikipedia.org/wiki/Bitcoin_Cash

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Interesting thought experiment! It got me thinking -- is BCCash really the shit, or is it just crap? Hmm... gotta do some more thinking I believe

It seems like bcash is dying a slow death! Delisting of trading pairs is a very very bad sign

You r right bro

I am a Bcash hater too, and here is why:

https://steemit.com/bitcoincash/@michiel/bch-is-slowly-dying-bch-is-exactly-0-1-btc-now-and-tanking-when-you-still-own-bcash-dump-it-now-before-the-whales-start-to-sell

Please investors, properly inform yourself through multiple sources before you invest in this. It is all based on manipulation and misinformation!

Very cool that you have a crypto ATM nearby! I'm going to have to research where the nearest one is around Wilmington, NC.

You are spot on that "Bitcoin Cash haters are vocal." It really is a shame that so much of the intelligent technical discussions are drowned out in the screaming back and forth (BCH supporters can be just as bad as BTC).

To me the big changes are three fold:
-Blocksize (and soon BCH will increase to 32mb on 5/15)
-Segregated Witness ("The purpose was to solve malleability." - https://en.wikipedia.org/wiki/SegWit)
-Difficulty adjustment (DAA)

I personally am excited about bitcoin cash scaling out, especially with this change in May to add suppressed OP Codes. This will be a game changer as the real possibilities of complex computation ON CHAIN will be enabled.

Thank you for the post!

The crypto ATM is so close, I always forget how lucky I am, thanks for commenting

Would you think that current crash is related in any way to Mt Gox and Bitcoin futures?

It seem that those 2 are main reasons why entire market is dropping.

I don't even know if there is any cause and effect in crypto markets anymore, it seems random

hi mate

funny enough, I remember that I opened your post because I've read "bitcoin crash" and just later I realized that you're talking about something else here :)

Great post. I'm jealous that you have such a nice lookin' crypto ATM that you are able to use. I have seen and heard about these more and more but the only one that is local to me (about 20 minutes away) is a purchase-only ATM and only has Bitcoin. I'm glad to see Litecoin at this ATM as I feel that this is one of the cryptos that has seen a tremendous amount of growth, and lots of acceptance and adoption as well! I've seen the online sentiment about 'b-trash,' and I must admit that I have used the term once or twice. I have held a bunch of it in the past as it was really easy to mine at the beginning of the fork...but...it's value hasn't seemed too strong as of recent...but then again...who's has? Thanks for the article and information! -Respect

When I want to buy steem i buy litecoin to turn it into steem so its like my go to use it a lot coin

Definitely a smart move! Depending on what happens over the next four or five months, I might plan on purchasing my own ATM like that and putting in a high traffic area near where I live. I have also been on a mini-mission asking almost every store, restaurant and vendor if they accept Bitcoin or Litecoin! -Respect

so what is the message? bcash true dying shit... or segwit the survive

Im myself not really into Bitcoin Cash.
somehow Ive never been convinced that it has great future

oh that is awesome. I just checked and we have 2 of these in town. How do you use them? I have never had the opportunity to use one of these?

Just bring a phone with Wallet and scan QR bar code thingy it's pretty easy

i still don't understand the difference, i mean bitcoin cash is still under price than bitcoin core

  ·  2 years ago (edited)

This article deals with a basic question in crypto investing, which many home investors dont really ask imo:

Which problem is solved(!) by the coin/currency/blockchain/network that has not been solved already? What makes this project unique?

I d really like to hear more about that, because like you say: why should I invest in Bitcoin Gold, if Litecoin does the same job (probably even) better?

Imagine people without a lot tech-skillz would be able to actually know the differences, so they could invest in projects with an actual value.

We need the market cap right at these projects, that have great developers and visions the world actually needs.

I think it just creates confusion for the general public.

Thanks for sharing that its integrated into the atm there now.

Thanks for sharing, great article. I've smashed the upvote button for you!

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good work

I think it's mind hang game bro.....thanks for share this

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