Short answer, stick with Bitcoin (BTC) - Turn Right.
Let me first start by saying that a few weeks ago I exchanged my Bitcoins (BTC) for Bitcoin Cash (BCH/BCC). I did a bit more research on what actually caused the price hike from $300 USD to over $900 USD, and a more deeper look into the technical side of things. I've since exchanged them back to BTC. So let me start off by outlining the key differences between BTC and BCC.
Two factions are at play, each with their preferred strategy to handling the scaling issue. On one side is Bitcoin Core, a development team once headed by Satoshi, Gaven, Jeff and Mike Hearn - but now handled by what some call the 'second generation' of enthusiasts. Bitcoin Core proposed the application of the SegWit protocol that would segregate and reduce information on the defualt 1mb blocks. Segwit also enable the use of the Lightning network, which has been demonstrated succesfully on the 'Litecoin' network. The lightning network creates 'offchain' channels that can route through multiple people to ease the loading on the Block network. More on this in the video linked below.
The other camp, wishes to increase the blocksize itself as a means to lower fees and increase traffic load, however such updates are incompatible with Bitcoins blockchain, leading to a hardfork. The proposed increase was originally 2mb, latter increased to 8mb. Increasing the block size does remedy a short-term problem, but threatens the ability for small size miners to remain competitive if this strategy is only further replicated. The following podcast goes in to more background information on the debate, and the significant players involved.
https://soundcloud.com/thecryptocast/ep8-btc-vs-bcc
So Bitcoin Cash is not supporting SegWit, it boasts an 8mb block size (but is that really a good thing?). This allows the blockchain to handle more traffic, however you would need about 250mb block sizes to really scale up to a global level (7 billion people doing avg 20 transactions /day) - so another hardfork would be needed, and another, and another. Only super-scale mining giants could service that size of blocks - aka, centralised.
Bitcoin Cash does however, have an 'Emergency Difficulty Adjustment' protocol that essentially incentives miners to mine the Bitcoin cash chain even when the volume of transactions drop - more reward for less, less reward for more. It's as if someone didn't want the coin to crash, but if it exploded it would be generally restricted to large corporate business operations taking over the mining.
So this was one strategy to the scaling issue, and it's important to note that it was not well supported in comparison to the SegWit softfork. https://coin.dance/nodes/share
Refer to 'BitcoinABC' as the node supporter for 'Bitcoin Cash'. Segwit activation went ahead because the target of 95% of miners was reached that signalled for SegWit activation. Now that it is activated, it enables bitcoin compatibility for the use of the 'Lightning Network'.
Essentially the lightning network with segwit, will allow bitcoin to scale globally, and conduct micro payments instantly with smaller fees again. As it still uses the small block size, it maintains the integrity of a decentralised network that does not beckon the need for giant mining pools. To understand Segwit better, please watch the following video;
So your choice is clear - support the tech-savvy developers that have devoted most of the last decade to bring you the coin that started it all, or get roped in to the rich guy dangling a 8mb block and saying thats the solution. It is your money, your investment - but Bitcoin Cash, and like its previous attempts to derail Bitcoin (Bitcoin Ultimate, Bitcoin Plus) are nothing but FUD!!! After all, 90% of Bitcoin Cash is being mined by one node, and most of it's market capital came from 3 exchanges in south korea - Korbit being one of them - just one of the many investments of Roger Ver, along with Ripple.
I have done several transactions today with the new segwit supported trezor wallet - It has been a massive difference, arrived almost instantly and confirmed in 1-2 mins. I guess this is what will ultimately matter - the service. Don't be fooled into marketing strategies, yeh the 8mb blocksize sounds good, but it is grossly insignificant. Once again, your money, your choice... I know what mine is.
If you would like to donate, details are as follows
Bitcoin: 388eHVMUdDn9EqCnytFdQabwZsW8ybVmdo
Litecoin: MSarwkbtjEScboVDppYhzcgohCUHYDVeNg
Bitcoin Cash: 1MUCiWHfcSzxZ1cxBr88kStPQrEpE4aRks
Ethereum: 0xF4dD42BC37516f729133658726E3034cC4c9B0A8
Dash: XsnuT8rXCz98utSbGBiMqySkR7FsbjX9gw
Thank you for your time reading, please share if you wish.
