Bcash forked off from Bitcoin with two main promises: To enable fast and cheap payments and to maintain the real vision of Satoshi. The name is build upon these features, it should be the Bitcoin as Satoshi has created and as easy to transfer as Cash. However, six months after the creation of Bcash, a system on top of Bitcoin is created that fits this description way better: The Lightning Network!
Lightning beats Bcash
Bitcoin Lightning is the real Bitcoin Cash!
Bcash is not Bitcoin Cash
Bcash simply can’t be called Bitcoin Cash because:
Bcash is not Bitcoin
Satoshi designed the Bitcoin network in a way that updates are only executed when consensus is reached. When consensus is not reached, the minority will split off the main chain and create an altcoin. This was clearly Satoshi’s vision, and beside that it is an obvious technical fact. This makes Bcash with less than 5% consensus a failed upgrade and BTC the real Bitcoin.
Bcash is not cash
Bcash can be send for about one dollar cent at the moment and it will take up to ten minutes for the transaction to be confirmed. Cash is transferable instantly and without any fee. This means that Bcash is certainly not comparable to cash. I have to admit that it is cheaper then on chain BTC payments (with BTC you pay for quality), but it is certainly no cash.
Bcash fan:
But Bcash has 0-confirmation transactions, they are instant
Me
Yes, but that is a very insecure solution and NOT Satoshi’s vision!
According to Satoshi: 0-confirmation transactions are no transactions
Lightning IS Bitcoin Cash
Lightning Network comes much closer to the envisioned product, let’s call it Bitcoin Cash!
Lightning Network is Bitcoin
Lightning Network is a network of payment channels build on top of Bitcoin. The payment channels are created by signed Bitcoin transactions that are not send to the blockchain yet. This creates the ability to make an unlimited amount of instant and extremely cheap transactions within the payment channel without using the blockchain. The blockchain is only used to bring money into the network, to take it out or to force someone who doesn't follow the rules. Since Lightning transactions ARE Bitcoin transactions, it is fair to say that Lightning IS Bitcoin.
Lightning Network is Cash
Lightning payments are as instant as cash, and with a fee of around 1 Satoshi almost free. This means that measured in speed it is as good as cash, and measured in expenses it comes extremely close. Obviously, it is WAY better then Bcash, but maybe even more importantly:
IT IS THE VISION OF SATOSHI!!!
What Satoshi described here in 2010 IS the Lightning network!
Conclusion:
Bcash is born to create a payment system with certain features, but after 6 months it was already overtaken by the Lightning Network. Lightning is much faster and cheaper and beside that it is the real Bitcoin and in line with Satoshi’s vision. Also, there are already more Lightning nodes than Bcash nodes online, while Lightning is just in Beta.
Lightning will be way better than cash, streaming of money will be possible and it is fully anonymously. This will not be archived with Bcash anytime soon without destroying the original state of the blockchain. I say it one more time:
BITCOIN LIGHTNING IS THE REAL BITCOIN CASH!!!
Disclaimer
This is no financial advice, just my view on the market. I am also not branding cryptocurrencies here, the market will decide how every asset is called, this is just my opinion. As for now the ticker of Bitcoin is BTC and the ticker of Bcash or Bitcoin Cash is BCH, don't confuse them!
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