Bitcoin Cash will be good for Bitcoin and other Cryptocurrencies by raising awareness. There is still a large percentage of the population that does not know about bitcoin or has not had reason enough to look into what all the buzz is about.
Bitcoin Cash is Good Because it Raises Awareness.
There is still a lot of people that do not know about bitcoin (BTC), which is why the User Activated Hard Fork creating bitcoin cash (BCC), will be a good thing; albeit controversial. One reason bitcoin cash is good, is because it helps to create an atmosphere of major publication. Before writing this post, I took a snapshot of the search results in Google for the term ‘bitcoin cash’. While all 13,000,000 results are not specifically about bitcoin cash, they are related to either bitcoin or cash in some way.
A second search for “bitcoin cash” with quotes revealed 792,000 results. All these queries boil down to much more awareness, including outside of the current bitcoin community, which is good for cryptocurrency in general. More bitcoin awareness means more bitcoin users, miners and opportunists.
Bitcoin Cash Creates an Atmosphere of Competition.
Another aspect of this split blockchain token is an inherent competitive atmosphere for altcoins like never before. Whether bitcoin cash survives or not, bitcoin will tested like never before and 
naturally some people will put more investment into alternate cryptocurrencies like Ethereum, Zcash, Monero and Steem; to name a few. A quick look at coinmarketcap.com reveals the trend charts for hundreds of blockchain coins, including bitcoin. From these charts we can see how the anticipation of the UAHF is causing the market to react.
A diversified portfolio is always a good idea – never put all your eggs in one basket. However, time will tell whether this new bitcoin cash will be good or bad for bitcoin and the future of blockchain-based cryptocurrencies. My thought is that it will be good overall, specifically because it is helping to raise awareness in people around the world and consequently fiat-based companies watching the fiat markets get impacted.
Sources:
The header image was compiled from free images and put together by myself in Gimp.
Images were snapshots taken from: Google.com and CoinMarketCap.com.
The information in this article is opinion based on media coverage about the UAHF from various articles by publications like Bitcoin.com, Coindesk.com and content publish by bloggers on sources like
Disclaimer:
The author is not a financial analyst or expert. Any and all investments should be researched through due diligence and possibly after consulting a professional. No one knows what tomorrow will bring, we can only make predictions based on market trends and variable influences.
Thank you for reading. What are your thoughts on Bitcoin Cash?
Interesting take on all the fuss going on atm.
I agree on your premis in that sense that it could help crypto getting on peoples radars. However I think it will also scare some people away from crypto. Many people simply dont have the stomach for the markets volatility and uncertainties.
On the other hand we see both ETH and ETC doing well after they forked, and it didn't seem to have any long term negative effects on the market. So yeah I look forward to see what Bitcoin Cash has to offer :)
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It will take some people much longer to get on board, just like the internet and social media... But we're reaching that exponential growth phase right around the corner, I believe. Should be a heck of a ride either way. I really can't say what BCC will do, but I'm leaning towards power altcoin, in the sense that it has to share hashpower and therefore take a large enough share of BTC miners to sustain. Should be interesting, either way. Thanks for the feedback, Dan.
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