Bitcoin Cash arrived in 2017, and in the ensuing months a combination of huge public interest plus plenty of positive feedback from investors has secured its position among the Top-5 cryptocurrencies. But is Bitcoin’s latest offspring worth you placing your hard-earned cash into, and if so, for the long or short term?
Whether you are a fan of them or you are opposed to them, there’s no escaping the fact that cryptocurrencies are currently receiving massive recognition, and might just have the potential to become the most significant technological development since the invention of the Internet. Just a couple of years ago, Bitcoin and the other cryptocurrencies which have followed in its wake were still viewed as being nothing more than a passing fad by economic, financial and political authorities.
However, by 2017 the multi-billion dollar market this “passing fad” had created proved that cryptocurrencies deserved recognition, respect even. Now, even the most narrow-minded economists cannot deny that blockchain technology – with its capacity to process vast numbers of transactions in seconds, completely free of charge – has much to offer the finance and business worlds.
What Is Bitcoin Cash?
One of the recent cyber-money success stories has been Bitcoin Cash (BCC or BCH for short) a cryptocurrency that was created on August 1 2017 as the result of a scheduled hard fork of the Bitcoin blockchain, which was done to increase the capacity of the Bitcoin block from 1 MB to 8 MB without adopting the protocol extension SegWit.
Since its introduction, Bitcoin Cash has proved extremely popular with investors, and its valuation via market cap of over $12 billion and per-coin cost of $706 makes Bitcoin Cash currently the fourth largest cryptocurrency in the world.
Who Developed Bitcoin Cash?
As any fan of cryptocurrency knows, the inventor of the original Bitcoin was the mythical figure of one Satoshi Nakamoto, as supposed Japanese programing genius who was never heard of before, and has never been heard of since. There is doubt that Nakamoto ever really existed, and his name was just a front used by a band of high-level programmers concerned about having their names – and reputations – linked with such a controversial creation as Bitcoin.
Fast-forward to 2018, and one of the sharpest minds in the blockchain industry is certainly not shy about nailing his colors to the Bitcoin Cash mast. Japan-based American entrepreneur Roger Ver was an early advocate of Bitcoin and blockchain technology, so much so he was dubbed “Bitcoin Jesus” by the crypto community. Ver has invested substantially in several Bitcoin spinoff companies such as Ripple, Z.Cash, Blockchain.com, Bitpay, Purse.io and Kraken. He is the CEO of Bitcoin.com and a co-creator of the Bitcoin Foundation, to which he donated over a million dollars’ worth of Bitcoin.
These days Ver is focusing his attention, energy and the bulk of his fortune on developing Bitcoin Cash. In a recent interview with Cointelegraph, Ver indicated that he was in it for the long haul and determined to take his favorite crypto to the very top, stating:
“Bitcoin Cash is the real Bitcoin and will have the bigger market cap, trade volume and user base in the future.”
Considering Bitcoin’s current market cap is $115.6 billion, more than the rest of the top-ten cryptos combined, should Bitcoin Cash achieve half of that figure, under Ver’s leadership it will have increased its value by five times its current worth.
What Is The Difference Between Bitcoin Cash And Bitcoin?
When in 2008 Satoshi Nakamoto introduced a block size limit of 1 MB in 2010 into the Bitcoin reference implementation, there was always the possibility of a problem in the long-term, as it limited the number of potential transactions to seven per second.
At the time, nobody really knew if Bitcoin would take off, so the number of transactions was set well below the limit of its block’s capabilities. The limit has been built in to prevent possible attacks on the network with excessively large blocks. In the same year Nakamoto wrote that the limit could be increased at a later date with a minor change in the code.
So, in August 2017 the principle aim of the Bitcoin hard fork which led to the creation of Bitcoin Cash was to increase the block size limit from 1 MB to 8 MB without adopting the protocol extension SegWit. The result is that Bitcoin Cash allows for significantly more transactions per second than the Bitcoin network.
Bitcoin Cash is also a far cheaper purchase option than its illustrious predecessor. Bitcoin coins are currently valued around the $7,000 mark, while Bitcoin Cash coins are priced as a still high-end $706, making it the second most expensive major cryptocurrency.
Should I Purchase Bitcoin Cash?
Without a doubt, Bitcoin Cash is a cryptocurrency that is far more in the “investible” category than the “practical” cryptos like Ripple and Stellar. If you are looking for a long-term investment in the cyber currency market and Bitcoin feels a little out of your league (don’t worry, about 99.9% of the population feel the same!), if you afford Bitcoin Cash, invest in it. Heavily.
There is no way in the world that someone as technology-savvy and as knowledgeable about blockchain and the whole crypto market as Roger Ver would be pumping so much of his own money into Bitcoin Cash if he didn’t believe it would become THE currency of the future. Even if it doesn’t quite go all the way and displace Bitcoin at the top – as Ver has predicted it will – Bitcoin Cash will still increase in value substantially, and in the coming years a mini-league featuring Bitcoin, Bitcoin Cash, Ethereum and Ripple sitting far ahead of the chasing crypto pack looks a distinct possibility.
How To Purchase Bitcoin Cash
If you want to purchase cryptocurrency, either as a short or long-term investment opportunity, or to use as a currency to trade for goods, simply open an account with CryptoTraderPros.com today.
Buying cryptocurrency with CryptoTraderPros.com could not be easier:
- Select your preferred cryptocurrency – in this instance Bitcoin Cash
- Click on the “Invest Now” button
- Add your details to the Contact Form plus the amount of EOS you wish to purchase and hit “Send”
A salesperson will contact you shortly and guide you through the purchase process. Your Bitcoin Cash share will appear in your CryptoTraderPros.com account as soon as the transaction is complete. You can access your account at any time, allowing you the option of purchasing more Bitcoin Cash, selling some or all of your Bitcoin Cash and have the balance paid out to your bank account, or using your Bitcoin Cash to make a bank transfer or online purchase.