Bitcoin Cash, in simple terms, is an upgraded, better version of Bitcoin that actually functions well as peer-to-peer electronic cash
I'm going to assume you know a little bit about cryptocurrency, what a blockchain is, how it works, why it's useful, how it's decentralized, secure etc.
If you don't know, the original Bitcoin whitepaper is a good place to start. I may link some explanations later.
Bitcoin whitepaper: bitcoin.org/bi...
FAQ: bitcoincashpod...
Advantages of Bitcoin Cash
- Instant transactions, no fear of chargebacks - zero conf, No RBF
- Low fees - fraction of a cent per transaction of any amount
- Permissionless - you could make a wallet and I could send you some right now, with no banks, government involved
- Functions well at scale where other cryptocurrencies do not - larger blocksize, recent ABLA upgrade
- Decentralized, no central authority or developer dictating how it works
- Shared history with BTC before 2017, not a new coin, not a pre-mined coin.
It is not just a different version of Bitcoin,
it is a continuation of bitcoin from the very beginning of cryptocurrency up until the 2017 fork
Does not force a limited 1MB blocksize, does not use SegWit, does not need a 2nd layer to scale
- Uses PoW, not PoS. Topic for another time
- Fixed supply, 21M coins. Deflationary, not inflationary
- Highly secure when used correctly with self-custody on a secure dedicated device
- Privacy - Single use receiving addresses, RPA, CashFusion
- Active development and passionate community actually working towards
peer-to-peer electronic cash adoption
Disadvantages of Bitcoin Cash
- Competing against a very large, highly speculative market that doesn't follow fundamentals
- Many different wallets, can be difficult to discern what's good, what's safe etc
- Volatility - problem largely solved with BCH Bull
- Negative perception after the BTC/BCH split - seems to be improving over time
- Lower hashrate, lower price and less general interest by comparison -
may change in the future as fundamentals become more important.
Conclusion
- BCH is a fundamentally sound cryptocurrency which works as intended where other cryptocurrencies
may not or do not
- If you are interested in peer-to-peer electronic cash as described in the
original bitcoin whitepaper, then Bitcoin Cash is the cryptocurrency for you
- This is not financial advice, do your own research, don't put money into something
you don't understand, i am not responsible, etc
- Remember, the purpose of cryptocurrency is not investing, and not to get rich,
but to have a sound alternative to government issued and controlled currencies
-- Watch live at / shifty_pete
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