Bitcoin Cash (BCH)

Bitcoin Cash is a cryptocurrency. It is a fork (a copy in a way) of Bitcoin (BTC). It was created in August 2017 as a result of a disagreement on bitcoin scalability problems. Influential miners, developers and investors not content with the Segregated Witness feature of Bitcoin (BTC) decided to increase bitcoin transaction capacity eight times by making the block size bigger.

There is no technology description for Bitcoin Cash yet.

We can not provide any looks into the future for Bitcoin Cash yet.

In May 2019 an intentional Bitcoin Cash upgrade was planned, but there’s one miner, Btc.top, that controls over 51% of the hash rate. Btc.top has the potential to push new upgrades, deny upgrades from the community and even start a new 51% attack. Btc.top misused its power on 15 May 2019 and overrode a block that was previously mined by Prohashing. Prohashing therefore announced that they stopped mining Bitcoin Cash one day after the incident. [1] [2]

1.5

Code development has almost come to a halt. There are many updates (commits), but none with significant code upgrades. [1]

1.5

Bitcoin cash was forked off the Bitcoin chain in August 2017. There have been two changes. When the Bitcoin transaction limit was filled, transactions were pending for a long time and transaction fees rose to exorbitant levels. Bitcoin Cash therefore adjusted the mining difficulty and increased the blocksize from 1 MB to 8 MB. In November 2018 the Bitcoin Cash fork happened and it was called Bitcoin Cash ABC, with an increased blocksize of 32 MB. The goal was to become the new Bitcoin.

3.5

The current setup of Bitcoin Cash does indeed have better specs than Bitcoin in terms of possible transactions per second and transaction fees, but Bitcoin is still much more accepted as the main cryptocurrency and there are many other coins that use much better optimized technologies than Bitcoin cash.

2.5

The biggest supporters and leaders of the Bitcoin Cash fork were Roger Ver and Bitmain (builds mining rigs) CEO Jihan Wu. While supporting the fork, they got into questionable behaviour as they chose a name (Bitcoin Cash) that was too similar to the forks origin Bitcoin. The leaders might try to trick newcomers into thinking that Bitcoin Cash is the original Bitcoin. The website Bitcoin.com is owned by Roger Ver. Bitmain investors IDG Capital and Sequoia Capital claimed that the now ex-CEO Jihan Wu misrepresented on numbers. [1] [2]

1.5

With the new Bitmain CEO abandoning the Bitcoin Cash ship, decreasing code development and the security concerns for more 51% attacks, Bitcoin Cash is likely to perish.

1.5

Bitcoin Cash might update the cryptographic algorithms with Schnorr Signatures, that should help further scalability for the project.

3.6

There’s a small possibility, but if the Bitcoin Cash team secures a big strategic partnership, it could create network effects that attract new miners, new merchants and therefore new users.

4.0

Bitcoin Cash aims to be the main cryptocurrency that should be used for transactions of digital cash, but Bitcoin is still much more relevant with a more widespread acceptance. There are much better solutions for scalability, privacy and speed of transactions.

1.0

The Minecraft-like gaming website craft.cash started accepting only Bitcoin Cash and has processed 50% of all Bitcoin Cash transactions in April 2019, with over 550’000 transactions. [1]
CheapAir, a travel agency started accepting Bitcoin Cash, as well as Bitcoin, Ethereum, Dash and Litecoin. [2]
The Bitpay wallet app enabled Bitcoin Cash (BCH) users to create Bitcoin Cash wallets in in May 2019. [3]

3.0

The community has been split since multiple forks of Bitcoin have created a lot of distrust for other forks. The Bitcoin Cash fraction has a hard time defending decisions of their leaders.

2.0

Not much is known about a developing team.

2.0