We are now at the beginning of the new year 2018, so we shouldn’t neglect that we have lived a lot of surprises in 2017, especially in cryptocurrencies, let say that 2017 was mainly the year of bitcoin (BTC), people have shown a great interest to it, and its price was achieved new recorded, the last one was nearly 20000$ like it was listed in Coinmarketcap.
Before we start, if you are new in cryptocurrencies: take a pen and note this definition.
BTC : that you use it in transactions or in open exchange is Bitcoin Core, it is a specific implementation of the Bitcoin protocol, it means that Bitcoin Core is a version of the original Bitcoin that was developed by Satoshi Nakamoto.
So, the big rising and the big hype of BTC in 2017, in my point of view, will not be the case for this year 2018.
I do not predict the future of course, but if we analyze critically the recent transactions of BitcoinCore, we come to a result that the transactions are too slow, and that recommended highly fees, until the writing of this blog, the fees costed approximately 25$ for a simple transaction.
To put you in some realistic situations, imagine you want to buy something that costs 5$, after you paid it with BTC, it will cost 30$! Another example: imagine that one of your friend needs 40$, so you send him 40$ of BTC, well in reality your friend will receive just 15$, because 25$ goes to fees, Moreover, He should wait several hours, sometimes days, to confirm a transaction.
BitcoinCore is actually useless, it is not practical to use it in a daily life, it no longer functions as a currency, it was losing all its properties and qualities, and this is in direct opposition to the purpose of Bitcoin.
Also the developer behind Bitcoin Core are unable to scale Bitcoin with demand.
Roger Ver that is the CEO of bitcoin.com and world’s first investor in bitcoin startups, has tweeted on 20 December 2017: Link Here
“Bitcoin Cash is Bitcoin. Bitcoin Core is not.”
Well Yes Bitcoin Cash (BCH) is the new solution of bitcoin, BCH is also a version of Bitcoin, it was created after a fork of the Bitcoin blockchain in 1st August 2017, it has all the properties and qualities of the Bitcoin, and it saved the main spirit of the Bitcoin as a currency and asset.
The advantages of Bitcoin Cash are that it can afford a low fees of transactions and a fast confirmation times in average of 10 minutes, also it circulates in its own network : its network is different from the BitcoinCore (BTC).
I think that sooner or later, Bitcoin Cash (BCH) will replace the ordinary Bitcoin Core BTC, However, BitcoinCore (BTC) will still have a its value as long as people desire to own it, so it still tradable as long as demand for the coin continues.
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