Bitcoin Cash: Detailed Information- Don't Be A Looser!!

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This post is about the detailed information about the Bitcoin Cash of which there is a rush in the International Market all around. Be smart before investing by reading the full article..

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What is Bitcoin Cash and how does it differ from Bitcoin?

Some of the Bitcoin community believed that the objective of making the code much more transaction friendly can be achieved through significantly increasing the maximum size of a block (from 1Mb to 8Mb). Bitcoin Cash was created to implement this technological change.

As Bitcoin itself has been seeking to solve the problem of limitations on the volume of transactions, the consensus view of a majority of the Bitcoin community has been to take a different approach: to segregate parts of the transaction data from the block and thus enable more transactions to be placed on a single block. This makes Bitcoin transactions faster without having to increase the block size. (In blockchain terminology, this is referred to as a Segregated Witness, or SegWit, solution.) In addition, an agreement was reached to increase the block sizes slightly in November 2017, from 1Mb to 2Mb (this latter solution is referred to as SegWit2x.)

Bitcoin Cash developers believe that these proposals for improvements to the Bitcoin code do not go far enough and fast enough to achieve their objective of Bitcoin becoming a widely accepted payment method.

Has value been created?

The creation of Bitcoin Cash through awarding each holder of Bitcoin a new Bitcoin Cash token resulted in a greater combined market capitalisation of the two crypto assets than Bitcoin’s capitalisation the day before Bitcoin Cash launched..

Outlook for Bitcoin Cash:

After only a few days of the new blockchain asset’s life, it is too early to predict whether Bitcoin Cash will be met with wide adoption, and whether it will become a well accepted, broadly used payment method.

Opportunities:

• Bitcoin Cash is built on the well established, well tested Bitcoin code – an advantage relative to completely new cryptocurrencies.

• As it is able to handle a greater volume of transactions with higher speed, it may succeed in achieving broad USD 47.3 bn USD 44.6 bn USD 8.5 bn-
10
20
30
40
50
60
August 1, 2017 August 2, 2017
(USD bn)Bitcoin.

Bitcoin Cash adoption as a payment mechanism. The promised lower fees, reliable confirmations, massive scalability may attract a wide ecosystem.

• There are many reasons why it makes sense for market participants to support this new blockchain asset– it is a positive attempt at finding new and better applications for the revolutionary blockchain technology

• By giving a new token to the holders of each Bitcoin,
Bitcoin Cash instantly achieved a wide distribution.

• Although many recipients of the new coin are likely
to be initially skeptical or agnostic, and thus likely
sellers, the price rallied significantly in the early days
– although this is on low volume, it is nonetheless an
encouraging sign.

• Bitcoin Cash has had the third or fourth largest market capitalisation amongst cryptocurrencies soon after its launch. If it stays on such a level, it is a candidate for inclusion in cryptocurrency tracker funds and indices, which might provide significant flow of funds support.

Risks:

• There has been a lack of support from some of the
major exchanges. This is sometimes ideologically
motivated, sometimes a ‘wait and see’ approach.

• Some have not been able to access their Bitcoin Cash holdings yet (including some exchanges delaying access until as late as January 2018), resulting in potential selling pressure from unwilling holders for still some time.

• Trading has been very illiquid so far, which also means that the traded prices are not a strong indication of how well the new asset has been received.

• There are not many Bitcoin Cash wallets as yet.

• There is some concern that the change in protocol
has not gone through sufficient review and testing,
creating potential technological risks for the first few
months at least.

• The community maintaining the Bitcoin Cash blockchain and developing its software is relatively small, making Bitcoin Cash dependent on fewer key players than the wider Bitcoin system. This may of course change in future, but until it does, it limits the prospects.

• There is an ideological resistance to Bitcoin Cash
amongst many members in the Bitcoin community.

• There are other cryptocurrencies already in existence that were designed specifically to process large payment volumes at a high speed. It remains to be seen how Bitcoin Cash will compete against these in the future. Ultimately, if a few major market participants embrace Bitcoin Cash, it can quickly create a virtuous cycle and a
strong uptrend in the price. It is worth considering that the prospect of Bitcoin Cash overtaking Bitcoin at some point in the future is also a possibility, although there is no indication of this happening as yet.

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