Bitcoin Cash (BCH) May 15th Hard Fork: Everything You Need To Know

BTC vs BCH Percentage Price Increase 1704 2404 150519

Roger Ver gives his thoughts on Bitcoin Cash and its fork in a news interview with CNBC's Fast Money. They rejected the agreed consensus (aka BIP-91 or SegWit2x) and have chose to fork the original Bitcoin blockchain and create this new version called "Bitcoin Cash". In that same period, Bitcoin's price increased only 15%, from ~$8100 Dollars to ~$9400 USD.

What do you think about BL3P's decision to remove Bitcoin Cash? Is it better than Bitcoin? "Doesn't answer the question why bcash is down over 7% into the HF".

Mining. How does the shared community of BTC/BCH miners influence the relationship between BTC and BCH?

Since Bitcoin Cash came into existence, there has been a long-time argument as to which is the real Bitcoin.

From today, Bitcoin Cash's block size will be 32 times as large as Bitcoin's (non-SegWit) 1-MB blocks, and it has always been the BCH position that block size matters.

One of the main criticisms against Bitcoin is its lack of scalability.

BTC vs BCH Percentage MCap Increase 010817 150518 150518

One advantage of a bigger block size is reduced transaction fees and information on Bitcoin Cash blog confirms that the hard fork is expected to reduce transaction fees. Bitcoin Cash has a total market cap of $24.04 billion and approximately $1.54 billion worth of Bitcoin Cash was traded on exchanges in the last day.

Some developers have argued that increasing block size would result in the operation of full nodes being more expensive, thus causing less decentralization on the Bitcoin Cash network.

So why double down on block size given that at only 8MB, BCH's transactions are nowhere near its block size limit? Bitcoin core developers (who favor a more conservative approach) and Bitcoin Cash developers have a long history of disagreements over technical specs.

For this reason we have not made it possible to trade bitcash on BL3P. "It should be ready for global adoption by mainstream users, and provide a solid foundation that businesses can rely on".

Bitcoin Cash (CRYPTO:BCH) is a proof-of-work (PoW) coin that uses the SHA-256 hashing algorithm. Instead, the value of the old BCH blockchain will be canceled and token holders should be able to use their coins on the new blockchain without a hitch. Since the system is designed so that it takes into account the transaction fees when deciding which transactions to process first, the fees may skyrocket if the mempool size increases considerably. Bitcoin's transaction fees, correspondingly, are much higher than BCH's, with a median transaction fee between $0.15 United States dollars and $2 USD - and yet it has maintained a transaction volume that exceeds BCH's by an order of magnitude. That is not to say that there hasn't been any movement in that direction, however. He says BCH is growing fast and furiously. Before the hard fork happened, two other implementations of the BCH protocol had been completed: Bitcoin Unlimited and Bitcoin XT. Today's fork neither creates a new coin, nor does it correct an existing problem, but rather strictly innovates in two ways. Bitcoin Cash's official message board is

Bitcoin and Bitcoin Cash have distinct long-term aims, and the subtle differences in how they're already handling transaction volume and block size reflect those aims.

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