Authored by Vittoria Onufrio, Senior Broker, Halifax America
While Bitcoin has been living a magic moment of great popularity, especially after the introduction of Bitcoin Futures at the CBOE and at the CME, Bitcoin Cash made another attempt to overthrow Bitcoin having passed the price of $3000 after the popular exchange, Coinbase, made an anticipated announcement that it would commence trading in Bitcoin Cash.
Emil Oldenburg, the CTO and Co-founder of Bitcoin.com, in a recent interview with the tech site Breakit said that An investment in Bitcoin right now I would say is the most risky investment one can make. It is extremely high-risk. Ive actually sold all of my Bitcoins recently and switched to Bitcoin Cash. He did not forget to mention, the waiting time and the high fees of Bitcoin network, as reasons for his departure from Bitcoin. He also mentioned that its company halted to develop new services for Bitcoin as now it started to focus mainly on Bitcoin Cash
In one of my previous articles I had mentioned that Bitcoin Cash, with its 8 MB block’ size, may be the only alternative to the waiting time and scalability problems of the original Bitcoin network as well as the increasing fees that its miners are charging customers for faster transactions
I would like also to mention that on December 11, Roger Ver, the CEO of Bitcoin.com, tweeted that his company is launching Bitcoin Cash Visa Debit card. In my opinion, this move may have been one of the reasons why the price of Bitcoin Cash has been going up. Certainly there are other cards out there that will allow customers to spend their cryptocurrencies anytime and anywhere, for example Tenx, that supports Bitcoin and also has Ethereum, ERC20 and DASH in beta testing. However, a native solution may help Bitcoin Cash become more spendable, acquire a growing consensus and spread easily across the world making of it the most valuable alternative to Bitcoin
In my opinion, the coming 2018 may be the year of Bitcoin Cash. We will wait and see if Bitcoin will be able to save its crown in the long term.
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