Is now the time to stack in bitcoin cash? With all the forks happening to Bitcoin lately, it shows a lack of faith in the original protocol. I believe Bitcoin will still be popular and it definitely has a network effect on its side. There is plenty build around it and probably won't be going anywhere any time soon. Bitcoin Cash was an answer to a problem some people saw in the Bitcoin protocol. If they people are right about the long term impacts of this change, it could potentially take over the original Bitcoin.
Bitcoin Cash was created as an answer to the years-long debate among the Bitcoin community regarding the best way to scale Bitcoin to more users. The most simple solution, and the one adopted by Bitcoin Cash, is to increase the Max Blocksize Limit parameter of the Bitcoin codebase. While Bitcoin’s block size limit remains at one megabyte (allowing for ~250,000 transactions per day), Bitcoin Cash has increased the limit to 8MB, allowing for around two million transactions to be processed per day.
As far as the users of Bitcoin/Bitcoin Cash are concerned there is very little noticeable difference on the frontend when using either currency. The main difference between these coins is the fact that, given equal hashrate, BCC protocol allows for more transactions per second which translates to faster payments and lower fees.
As you can see below, so far Bitcoin has been going up since the fork and I have heard predictions of $7000-$7500 USD marks in the next two weeks or so. Therefore I don't see a reason to be getting rid of your Bitcoin anytime soon. Please do not take that as trading advice just speculation and passing along targets I have read from other sources.
Bitcoin Cash on the other hand does not seem to be budging a whole lot. It spiked at one point but it is back down trading close to what it was when it was first created. The overall trend looks fairly flat to me. It has seen about a 25% jump in price in the last couple days. So maybe it too is ramping up for a big move upwards? Who knows and we can all speculate but no one is an oracle.
There are more forks to come for Bitcoin and that could possibly push the price up until that point in mid November. Bitcoin Cash could be starting to catch on now that people are reading more about it and seeing it appears like it is going to stick around now. One concern I have with the Bitcoin Cash decision is, what happens when we reach that point again? Do we just increase the block size to fit the needs or is enough enough at some point? Will we see Bitcoin Cash see the same debate and fork? For now, a bigger block size with the same security as the original Bitcoin seems like a win-win. It will lower the transaction fees and hopefully give people more of an incentive to use it then. Personally I remain bullish on both currencies.
One selling point that I came across recently was Roger Ver talking about it in an interview. I know Roger was a big proponent of Bitcoin Cash. I feel like he made some good points even though he may be just a little bias. You can check out the interview here.
Coinbase
This is just speculation on my part but I think when Bitcoin Cash becomes available on Coinbase it will have a dramatic positive effect on Bitcoin Cash. I feel one reason for the flat trend is that not many people could get access to Bitcoin Cash like they could Bitcoin through a site like Coinbase. Once it becomes available at the beginning of the year, more people will have access to there Bitcoin Cash Wallets and it will also become available to purchase along side the other cryptocurrencies that they offer. I would think this would promote more mainstream adoption. This will then help push the price further up. I feel like we are seeing a big discount on Bitcoin Cash. Either way If you were holding Bitcoin before the fork you have both and have nothing really to worry about. I just thought I would throw my two sense out there about the two and where I see them going. Let me know what you think!
