What is Bitcoin Cash,

Bitcoin is the first mover in Cryptocurrency and has been the no 1 driving force for some time until recently when it has lost 65% of the market share. In my opinion was due to other coins being born and. faster and more effective technology being released. Then come the high fees and slow processing times and it has caused big dip in the bitcoin market.

The fact that Bitcoin is giving such a bad user experience right now and just not performing as it should do, is a major problem and needs fixing!!

Bitcoin was designed to by Satoshi Nakamoto to be a peer to peer cash payment system. Today that is not the case and now people are having to pay extremely high fees & deal with very slow processing times,sometimes even days to be verified.

This truly goes against everything that bitcoin was designed to do and be.

As much as I love bitcoin and it pains me to write this I need be honest right now, it’s completely useless unless you are mining it of course then it can be really profitable.

We really do need a Cryptocurrency Payment Solution for an eco system that we can rely on with low fees and instant transactions.

I personally believe that Bitcoin Cash (BCH) could be one of the main Cryptos to help answer this problem. Bitcoin will be the gold of the internet and give an intrinsic value to our money again. You will be able to purchase a house ,car with bitcoin but for everyday use like buying a coffee, going for dinner right now it is to expensive and to slow. In my opinion BCH has the all the answers and will become the payment system that bitcoin was supposed to be a peer to peer cash payment system.

Bitcoin Cash is Bitcoin, it is exactly the same protocol with 21 Million coins, but can handle more transactions and follows how Satoshi originally intended bitcoin to be when he wrote the rules of bitcoin back in 2008/2009.

Bitcoin is now slowly becoming a centralised model with one core team of developers who seem to only be in this to make money for themselves by creating a dramatic increase in fees for the users. For 9 years bitcoin was seamless and had no problems, fees were practically zero, processing times were instant. Bitcoin was the competition to the banks we have never had before. Now we may as well use a bank, there is no difference $100 fees and processing times of 4 days it’s complete craziness & goes against everything wee been teaching for the last 5 years.

Some of the developers did not understand and agree with the original vision of peer-to-peer electronic cash that Satoshi Nakamoto had created. Instead, they preferred Bitcoin become a settlement layer.

This is not how Crypto is designed to be!!

BCH was created on Aug 1st 2017 through a hard fork and a split of the bItcoin Blockchain. So you can look at this as bitcoin 2.0 a faster and more efficient version of bitcoin that has a more advanced technology.

Bitcoin Cash can handle more transactions than bitcoin and has much cheaper fees that are integrated for the longevity of the project. Bitcoin Cash is actually the only forked bitcoin that sticks to exactly the same protocol as bitcoin. Many others forked coins are trying to write their own rules and BCH are working to Satoshi’s rules and vision.

BITCOIN CASH FOLLOWS THE SAME PROTOCOL

At present bitcoin can only handle seven transactions per second and has 1MB blocks. In today’s financial economy and the amount of digital transactions taking place in the Bitcoin Blockchain we have Hundreds of Thousands of Transactions every 24hrs. You can not record and process that many transactions into a 1MB data storage block. So the bitcoin Blockchain is now so full it is taking days to see transactions be verified.

If you want to know what the Blockchain is please read this; https://thecryptoproezine.com/2017/06/19/what-is-the-blockchain/

Bitcoin Cash is designed to handle Thousands of transactions and has an 8MB block size.that is about 40,000 transaction in each block compared to bitcoins average of 2500 per block. BCH can also scale on the Blockchain, so every couple of years the block size will double to 16MB, 32MB 64Mb and so on. This allows BCH to handle the volume of the expanding demand Crypto brings to the world.

We need Borderless, instant Transactions and they are now something we can use and rely on again within the Cryptocurrency world. Bitcoin Cash is how bitcoin is supposed to be. The opportunity that BCH brings to the space when you truly understand this is really special and like being involved in bitcoin 3 years ago.

This coin offers serious potential with a very strong technical division made up of several different developing teams plus years of marketing experience in tow to take this coin forward.

This can only mean one thing for this coin and that is further exposure in the right channels across the world.

Here is a piece from the bitcoin cash website (www.bitcoincash.org)

Bitcoin Cash brings sound money to the world, fulfilling the original promise of Bitcoin as “Peer-to-Peer Electronic Cash”. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development.

Bitcoin Cash offers Decentralized Development – With multiple independent teams of developersko o providing software implementations, the future is secure. Bitcoin Cash is resistant to political and social attacks on protocol development. No single group or project can control it.

Here is a great video explaining Bitcoin Cash

If we look at other solutions to speeding up the transactions and lowering fees, we could possible look at SEGWIT2X, but they only want to double the block sizes to 2MB, that solves a small problem but the blocks are still not big enough. We need much bigger blocks and on chain scalability. Read about Segwit2x here https://thecryptoproezine.com/2017/11/08/what-is-the-bitcoin-segwit2x-fork/

Bitcoin Cash can do this and more.

If we look at the Lightning Network, this is an off chain solution and is still in theory nothing has been proven yet and until it can then we are still in the same place.

Read about the lightning Network here https://lightning.network/#intro

If they can get this technology working it really could be a huge solution to help bitcoin, but until they implement it and we know it works wether it can be durable for the future,we just don’t know!!

Bitcoin Cash is a huge player in the Crypto Markets right now sitting fourth n the entire world, with a value of around $1700 and a market cap of $29Billion + (28/1/18) Not bad for a coin only been around for a few months is it?

If we really want to stick to Satoshi’s vision and the technology he actually created then in my opinion Bitcoin Cash is the solution to take Cryptocurrency forward at a much faster pace, but that is just an opinion…

The only thing I must add as a miner, that I find really interesting is mining bitcoin it is so profitable because of the high transaction fees that are rewarded when winning a block. When processing transactions the fees as part of the reward for the the work we have completed. Mining bitcoin is and always will be profitable at this rate and I do not see that slowing down any time soon.

I believe this will always be the first mover in the space so it has a lot of potential for much more gains but until someone sorts out these extremely high fees and slow processing times who knows what will happen to bitcoin.Only when Someone fixes this then bitcoin may boom again.

If we look back over history and technology it always becomes more advanced and someone always comes up with a better way to make things more efficient, faster, easier to use, but what ever it maybe the first mover is not always the winner.

Right now I would say it is still such early stages that we are probably still in NOKIA mobile phone stages of this technology. who ever creates the most usable currency of any of the coins with low fees and instant transactions will win.

HOW TO PURCHASE BITCOIN CASH

If you want to purchase bitcoin cash (or any other Cryptocurrency) please feel free to use our private broker www.bcbitcoin.co.uk

You must quote reference Crypto Group to get our special discount.

1- email

Info@bcbitcoin.co.uk

2- quote -cryptogroup. to get your oreder processed quicker and get our special discount.

3- You must send picture of you holding your passport 8& a declaration note which bc bitcoin will provide.

4- Place order for coins you which to purchase.

5- If you are buying mining package you must be specific on the first email that you want this & what package you are choosing.

The person who told you about the mining will guide you in right direction for the best package for you.

THE BEST BITCOIN CASH WALLET

To get YOUR BEST Bitcoin Cash wallet please download from bitcoin.com here https://wallet.bitcoin.com/

This wallet is 100% private and you control your own private key.

This is safest way to store your coins and keep them safe or grab a ledger wallet and keep them off line.

You can also check out these.

CONCLUSION

BITCOIN CASH BITCOIN – Cheaper, faster payments, instant transactions and practically no fees. BCH can scale and handle more demand as time goes on. In my opinion BCH has a lot of potential but only time can tell if the people will adopt this coin as their peer to peer cash payment system.

What are your thoughts on Bitcoin Cash?

Please leave us your comments below?

Please subscribe to our blog to keep up with The Crypto Pro’s.

Resources

Bitcoin White Paper https://bitcoin.org/bitcoin.pdf

Bitcoin Cash Website – https://www.bitcoincash.org

Many thanks

The Crypto Pro’s

P.s

If you would like to know how to Profit from mining please contact us and we will be happy to set up an interview and make sure you are a good fit for our private club and community.

We can not promise anything but we would love to chat and go from there.

TCP.

JP Morgan Get caught money laundering

Jamie Dimon, head of JP Morgan is at it again after calling Bitcoin a fraud, the swine is up to to no good himself and JP Morgan get busted for Money Laundering!!

How can we trust the banks anymore?

JP Morgan one of the worlds biggest banks are caught Money Laundering!!

What does that tell you about them and just how corrupt they actually are??

Jamie Dimon has offered baseless condemnation on bitcoin for many years, calling it a bubble, a fraud, and a money laundering tool. This week, ironically, JPMorgan was cracked down for money laundering, after being fined $4 billion for mortgage fraud in September, merely two months ago.

The banking system is old, dated and time for an update is a must.

This is why we need Bitcoin, it is the perfect system. A decentralised protocol run on mathematical laws that can not be manipulated in anyway shape or form.

Dimon falsely accused bitcoin of being a money laundering tool earlier this year. Then, JPMorgan was fined $4 billion for committing mortgage fraud, and has been busted for money laundering.

If you have trust in the banks anymore in my opinion you are CRAZY!!

Today, ironically, leading Swiss daily news publication Handelszeitung reported that the Swiss subsidiary of JPMorgan was charged by the Swiss regulator, FINMA, for money laundering and “seriously violating supervision laws.”

FINMA ruled on June 30 that JPMorgan Switzerland had “seriously infringed” regulatory oversight provisions, according to a ruling issued by the Federal Administrative Court on Nov. 8 and published on Thursday.

The case involved a “violation of obligations of diligence on questions of money-laundering,” the court document said.

The court had been examining whether FINMA’s previously undisclosed decision on JPMorgan could be made public, in a case first reported by the Handelszeitung paper.

Both FINMA and JPMorgan declined to comment on FINMA’s ruling and it was unclear what action, if any, the regulator had taken against JPMorgan.

FINMA is not authorized to levy fines, but may confiscate unlawfully realized gains, impose professional limitations on bankers or require an organization to make changes to prevent similar breaches recurring. In severe cases, it may revoke an institution’s banking license.

The hypocrisy and the conceitful nature of major banks and financial service provider will only result in the demise of the finance industry in the long-term, as decentralized networks continue to render intermediaries obsolete.

Banks are running scared of bitcoin they fear what it will do & how it will hurt them. This is the biggest disruption we may ever see. The banking system has never had anything challenge them before and now Bitcoin will be the new monetary system to the world.

Villains like Dimon are abusing their power with public statements about bitcoin being a fraud, a bubble, saying it will never work, blah blah blah now we can see the real truth and just how corrupt they actually are.

What are your thoughts on JP MORGAN caught MONEY LAUNDERING?

What is Ripple and is it the next big Cryptocurrency

The Cryptocurrency world is In a crazy frenzy right now everyone is going nuts for Bitcoin and Ethereum which you are probably seeing everywhere right now,!!

Deep in the background though not far behind Bitcoin and Ethereum there is a dark horse gearing up to go on one almighty gallop and break into the biggest race the world has ever seen to become the best global payment system.

The coin I am talking about is Ripple, which is designed to help financial institutions transact money between one another in seconds. Ripple will dramatically change the way we transact money across he world.

Ripple has been sitting under the radar at pennies on the dollar for some time now, yet it sits fourth in the marketplace with the largest market cap at nearly $9bln and the price only 0.23c right now.

When I discovered and joined Ripple a few years ago the price was 0.04c so seeing it mature and gaining vast credibility and such a strong following is just incredible.

I truly believe Ripple has the power to be one of the biggest coins in the marketplace. (which is just my opinion)

Ripple has the potential to go head-to-head against digital currencies like Bitcoin and Ethereum. Why?

XRP the currency tag for Ripple has a clear use case,

“It is one of the largest digital assets by market capitalization and is designed for use by financial institutions as an on-demand liquidity solution for cross-border payments.

For example, payments into emerging markets can require multiple currency traders — added costs — or pre-funded local currency accounts — which often results in trapped capital. Instead, payment providers and banks can use XRP to fund these payments on demand, without intermediaries, at up to 60% less cost to settle.”

Speed is another factor which comes into play. XRP is also the fastest, most scalable and secure digital asset.

“XRP today can process up to 1,500 transactions per second on the XRP Ledger, which is supported by a community of trusted validators and a team of full-time engineers that actively develops and maintains the ledger,”

Ripple CTO Stefan Thomas said. “Unlike other public blockchains that select validators via mining, XRP Ledger’s validators are chosen by users and hosted using enterprise-grade infrastructure, making it the only enterprise-ready blockchain today.”

So what are the benefits of Ripple and what sets this currency apart?

“Ripple is the only blockchain network with real customers – who have signed deals with over 90 customers globally and over 75 customers are in various stages of deploying Ripple for commercial use,” said Thomas.

Ripple also recently announced it is growing its product suite, including xCurrent, xRapid and xVia.

“We are growing to serve our global customer base and now have offices in San Francisco, New York, London and Sydney – and a joint venture with SBI Ripple Asia to serve Asia,” said Thomas.

Mathew Pulickel, Senior Vice President, Emerging Technology at WorldLink, said: “We believe Ripple’s network will revolutionize commerce in the future and the way our customers do business, and that’s why we have chosen to run a validator node on the XRP Ledger”

The fact that 60 banks are now in the process of commercially deploying Ripple’s enterprise software—among them Bank of England,Santander, Royal Bank of Canada and Mitsubishi UFJ Financial Group just to name a few —reflects the company’s drive to,become one of the biggest Cryptocurrencies in the market place.

Here are just some of their customers already…

The company’s larger vision is to build an “internet of value,” a global internetworking system for money—would be tremendously disruptive to the status quo of international banking. In this system, monetary value could flow seamlessly from a bank ledger to a public blockchain to a mobile money system—all interoperable and working together to move money from one side of the globe to the other.

In other words, Ripple doesn’t just want to help banks make cross-border payments. It wants to make the world’s assets liquid. If Ripple has its way, it will do more than knock out Swift; it will have found a way to make money move like information.

In April, the Spanish bank BBVA completed a series of international money transfers between Spain and Mexico using Ripple’s distributed ledger technology. The transfers took mere seconds, BBVA said, as opposed to the four days it normally takes for such international transfers to clear.

But there are signs of progress. In March, Ripple announced that a consortium of 47 Japanese banks had successfully completed a pilot with its enterprise software. Twelve more banks have since joined the consortium, and they are planning to deploy a commercial version of the blockchain solution at scale in October 2017. Ripple’s software is now touching 40% of customer banking accounts in Japan,

Ripple’s Inter-Ledger Protocol (ILP)

With Ripple and ILP, banks can leverage unlimited scalability and complete transaction privacy. This comes in addition to all of the existing advantages of Ripple’s distributed financial technology.

Ripple is thrilled to introduce the Interledger Protocol (ILP) for efficient payments across payment networks.

Time and again, we’ve heard from banks that Ripple changes the game—providing banks the ability to transact directly, instantly and with certainty.

Ripple ILP completed a test in which the company sent ether—the native coin of the Ethereum network—to the Ripple consensus ledger; the ether was received as XRP in a Ripple wallet. It was therefore “both a cross-ledger and a cross-currency transfer,”

Ripple’s Cryptocurrency XRP is today the world’s fourth largest digital currency by market capitalisation. Ripple’s big idea is to use XRP—once its market cap gets high enough and it is being traded heavily enough—to provide banks with liquidity on demand. During a transaction, a fiat currency like the U.S. dollar would be converted by market makers into XRP and almost instantly swapped back into another fiat currency, like British pounds, on the other side.

So as you can see the technology behind Ripple is just incredible and I truly believe this is one to watch. The only problem I do see is that they have far to much supply already in circulation with 38 Billion coins on the market at present & the price is still extremely low does that harness the future price?

Or is the Technology so good that it will push through and become the giant it deserves to be?

Only time can tell….,,

Conclusion

Ripple is a technology that could change the banking infrastructure and the way we send payments around the world with the Most scaleable and fastest payment system in the market today.

Ripple is being tested with some of the biggest financial institutions in the world and passing with flying colours.

There is LOTS of potential for further growth with Ripple especially once this comes into full flow and the banks are using this on a daily basis the sky is the limit.

I know I am adding more Ripple to my Portfolio if you choose to do the same that is up to you.

Disclaimer – This is not financial advise in any way it is just my opinion. And no one else’s.

The future is certainly bright for Ripple & I believe we will be hearing lots more about this coin very soon.

What are your thoughts on Ripple?

Leave us a comment below and share and like if you got value from this post.

Many thanks

The Crypto Pro’s

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Bitcoin moves into new realms and Bitcoin cash is born

The day has finally come that has been on the cards for so long, which sees Bitcoin moves into new realms and Bitcoin Cash (BCH) is born.

In this blog post I will cover what all this means and works for you. So do not worry by the end of this you will get a better understanding and will learn about the future of Bitcoin.

Earlier today a subset of bitcoin's miners began operating a different software in order to create a competing cryptocurrency called Bitcoin Cash. The move would effectively find a minority of users forging ahead with their own blockchain, one that shares a transaction history with bitcoin.

As previously reported, Bitcoin Cash – which raises the size of the network's transaction blocks while doing away with other capacity upgrades – is being advanced as an alternative to existing scaling efforts. Some of those who backed prior efforts aimed at raising the block size have since moved to support Bitcoin Cash.
Yet the split is far from complete.

Thus far, that hasn't happened, and some observers believe that it could take hours or more for that block to be created. In the meantime, the original bitcoin chain has continued.

So the fork has begun and the chain has split in two, this means we now have the original Bitcoin – BTC which price still sits around $2700 a coin. Considering that everyone thought the price would drop dramatically it holds tight for now.

Only time will tell how this will be effected.

Bitcoin Cash has started trading around $200 a coin and hopefully it will grow just like its daddy BTC. As normal for now you can see a slight decline in price, but that is normal on first day of trading so no need to panic. just yet.

Many of the Bitcoin community are selling coins to get into Bitcoin cash such as Roger Ver who is liquidating thousands to partake into the new realm of Bitcoin Cash.

What is Bitcoin cash & does it offer more?

Bitcoin was designed back in 2009 & I don't quite think anyone could have expected what has happened and the success it has gained since, but there was some major processing problems and the System could not handle and process transactions fast enough to handle the community demands.

So a solution was needed and the core developers, miners, investors come up with Bitcoin Cash and the platform was born.
Bitcoin has now split into two different platforms.

Here are some FAQ from the Bitcoin Cash website
https://www.bitcoincash.org/

What is Bitcoin Cash?
Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.

Is Bitcoin Cash different from 'Bitcoin'?
Yes.  Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash.  It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.

If I own Bitcoin, do I automatically own Bitcoin Cash too?
Yes.  Because Bitcoin Cash is a fork of the ledger, that means you own the same amount of Bitcoin Cash as you did Bitcoin at the time of the forking block.  However, if your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your cash.

How is transaction replay being handled between the new and the old blockchain?
Bitcoin Cash transactions use a new flag SIGHASH_FORKID, which is non standard to the legacy blockchain.  This prevents Bitcoin Cash transactions from being replayed on the Bitcoin blockchain and vice versa.

Why was a fork necessary to create Bitcoin Cash?
The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second.  Although technically simple to raise this limit, the community could not reach a consensus, even after years of debate.
 
Was the 1 MB blocksize causing problems for Bitcoin?
Yes, In 2017, capacity hit the 'invisible wall'.  Fees skyrocketed, and Bitcoin became unreliable, with some users unable to get their transactions confirmed, even after days of waiting.

Bitcoin stopped growing.  Many users, merchants, businesses and investors abandoned Bitcoin. Its marketshare among other cryptocurrencies  quickly plummeted from 95% to 40%. 

Does Bitcoin Cash fix these problems?
Yes.  Bitcoin Cash immediately raises the blocksize limit to 8MB as part of a massive on-chain scaling approach.  There will be ample capacity for everyone's transactions.

Low fees and fast confirmations will resume with Bitcoin Cash.  The network will be allowed to grow again.  Users, merchants, businesses, and investors will return.

Why didn't Bitcoin raise the blocksize if it was easy?
Some of the developers did not understand and agree with the original vision of peer-to-peer electronic cash that Satoshi Nakamoto had created. Instead, they preferred Bitcoin become a settlement layer.

Many miners and users trusted these developers, while others recognized that they were leading the community down a different road than expected. 

These two very different visions for Bitcoin are largely incompatible, which led to the community divide.

Which Development Team is In Charge of Bitcoin Cash?
Unlike the previous situation in Bitcoin, there is no one single development team for Bitcoin Cash.  There are now multiple independent teams of developers. 

This decentralization of development (and decentralization of software implementations) is a much needed and important step forward.

There are a few exchanges and wallets accepting the new technology where you will be able to attain your new BCH.

(If you would like any help understanding this move, please feel free to reach out and we will be happy to help you any way you can.)

Conclusion
Bitcoin Cash offers a new solution to speed up transactions that was needed to enhance this technology and concept of Bitcoin.

Another huge Crypto went through the same process with a hard fork last year and created two platforms which was Ethereum creating the classic and Ethereum platforms.

This has not stopped them creating success and moving forward.

I think that both Bitcoin communities will now continue to grow, but only time can tell what will happen.

No matter what the outcome Cryptocurrency will change the world as we know itAs time goes on technology evolves and becomes better so I think that Bitcoin maybe the time was right for an upgrade/ update to a system that was limited on what it could achieve.

Now we have to see if the community have made the right choice?

What are you thoughts on this move?

Please leave a comment and let us know.

Many thanks
The Crypto Pro's

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