What is the future of Bitcoin Cash? Bitcoin Cash was created as a result of a hard fork, which basically gave everyone who owned Bitcoin an equal amount of Bitcoin Cash. Bitcoin Cash has risen a lot since it was first created. It has certain advantages over Bitcoin. Is Bitcoin Cash going to overtake and overshadow Bitcoin itself?
Bitcoin Cash has the advantage of an additional block size capacity over Bitcoin. It has a market value of over ten billion dollars. This was literally created overnight. At first, it started off slow, but as interest continued to grow, more and more people started to mine and invest in Bitcoin Cash. The price continued to go up. Read this article at ZeroHedge about Ian King
Why was Bitcoin Cash created? It was created to fix a problem that Bitcoin had. Bitcoin had a limited capacity for block sizes, and users had to have a record of all the transactions in order to use their blockchain wallets. This led to hackers filling up the records with false transactions, which overwhelmed the system and led to denial of service attacks.
— Ian King (@IanKingGuru) January 9, 2018
In other words, transactions were taking too long to occur. While Visa, for example, is able to do a lot of transactions every second, with Bitcoin it can take a few minutes or much more for a transaction to go through. If Bitcoin were to become a leading currency, this would be a big problem. Other altcoins have fixed this problem, and Bitcoin Cash was also created in order to fix the problem. However, critics of Bitcoin Cash say that such technologies would eventually lead to centralization. That would defeat the entire advantage of Bitcoin, which is a decentralized currency.
According to Ian King, the fact that some people are moving over to the Bitcoin Cash network in order to be able to do quicker transactions may not be a good sign for Bitcoin. However, the fact is that it is having an adjustment difficulty. This means that for the time being, Bitcoin will indeed remain the top cryptocurrency out there. Follow Ian King on Your Favorite Social Media: Twitter, Stock Twits.
Ian King currently writes a weekly contribution For Sovereign Investor Daily at Banyan Hill Publishing. He is their cryptocurrency expert. He also writes for sites such as Investopedia. He has decades of experience with investing and trading in general and in the financial industry and stock market.