bitcoin vs Bitcoin cash Bitcoin vs Bitcoin Cash
bitcoin vs Bitcoin cash is technically not the correct term. Well, I say it is technically not the correct term, but who knows, maybe it is … no one is in charge and consensus is remote. This is the problem with decentralisation or rather, a benefit of a central authority. Before we even look at BITCOIN VS BITCOIN CASH (that doesn’t work either, unless your name is Gerrie Nel I suppose) we will briefly explain a few terms and concepts around the “original” Bitcoin. Today bitcoin (BTC) is in the lead. It is the highest value coin market value and has the biggest community.
Bitcoin (uppercase B) generally speaking refers to the broader concept around block-chain technology, payment network and the Bitcoin Network which runs the Bitcoin core protocol.
bitcoin (lower case b) with the trading symbol on most exchanges listed as BTC (hang on before you frown and dramatically shove the mouse against the empty coffee cup on your table in utter disgust at my lack of knowledge), although officially it is XBT, is the currency for the Bitcoin Network which runs the Bitcoin Core protocol.
now let us get to Bitcoin Cash
Bitcoin Cash with the trading symbol on most exchanges listed as BCH, is the currency token for the Bitcoin Network which runs the Bitcoin Cash protocol (which some argue is a closer resemblance to Satoshi’s original vision).
If you are now asking yourself, how, where and why this happened or is happening, don’t fret too much. Furthermore, here is a simple info-graphic to help you visualise the evolution of Satoshi’s Bitcoin
Why The Big Fight?
The debate is raging everywhere and everyone has an opinion. There is no single definitive source to adjudicate. It is truly down to market forces as to which (if either) is the real Bitcoin.
There are those for and those against, then there are groups that see the merit in one’s case but not the other. You then have the added bonus that Bitcoin Cash proponent, and probably one of the Founding Fathers of Bitcoin (not inventor, but one of the first publicly known faces to back and promote Bitcoin back in 2011), Roger Ver, controls the Bitcoin.com domain name. As a result, one of the most sought after portals, especially as many newcomers to blockchain technology will begin their journey there.
On top of this, Craig Wright(who came closest to claiming the identity of Satoshi Nakamoto), is also wholeheartedly behind Bitcoin Cash.
Who Will Win The Battle Of Bitcoin vs Bitcoin Cash?
This is very difficult to predict. Ultimately only the users of the particular network in question can make this decision. How widely will we adopt these technologies? How many merchants provide services which are built on top of, or are based on each particular technology? This all remains to be seen and more questions than answers are at the order of the day.
Bitcoin and Bitcoin Cash will coexist and serve different use cases, just like Bitcoin and Ethereum. It’s not a zero sum game. Work on building your project, not on destroying the other – Andreas M. Antonopoulos
We do not believe there is a simple answer. The bigger question lies not in which technology is more popular. Rather ask “Which technology is more suited to be an independent wealth creation mechanism?”
Our world is changing at an increasing pace and traditional commerce has been disrupted to its very core. Arguments like bitcoin vs bitcoin cash simply serve as “triggers” for our own financial awakening.
Let us know your views on bitcoin vs bitcoin cash in the comments below.