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.
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.
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?
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Bitcoin White Paper https://bitcoin.org/bitcoin.pdf
Bitcoin Cash Website – https://www.bitcoincash.org
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