Bitcoin Cash is a cryptocurrency that is a fork of Bitcoin. BCH Bitcoin Cash is a spin-off or altcoin that was created in 2017. In 2018 Bitcoin Cash BCH subsequently split into two cryptocurrencies: Bitcoin Cash, and Bitcoin SV. Bitcoin Cash is sometimes also referred to as Bcash.

What is Bitcoin Cash BCH? Why do People use BCH or Bitcoin cash? Why is is called Bcash?

How did Bitcoin Cash BCH come about? How does it work?

The need to accommodate an increasing count of transactions per second contributed to a push by some in the community to create a hard fork to increase the block size limit. This push came to a head in July 2017 when some members of the bitcoin community including Roger Ver felt that adopting BIP 91 without increasing the block-size limit favored people who wanted to treat bitcoin as a digital investment rather than as a transactional currency. Fortune Magazine in early 2020 referred to Roger Ver as the co-creator of Bitcoin Cash. Bitcoin Cash supporters, compared to Bitcoin, were more committed to a medium of exchange function. This push by some to increase the block size met a resistance. Since its inception up to July 2017, Bitcoin users had maintained a common set of rules for the cryptocurrency.

What happened next with Bitcoin Cash BCH? What is Segwit? What is the lightning network? How many different Bitcoin Cash BCH are there?

Eventually, a group of bitcoin activists, investors, entrepreneurs, developers and largely China-based miners were unhappy with Bitcoin’s proposed SegWit improvement plans meant to increase capacity and pushed forward alternative plans for a split which created Bitcoin Cash. Segwit controversially would later enable second layer solutions on bitcoin such as the Lightning Network, and this controversy led to the split that created Bitcoin Cash. The proposed split included a plan to increase the number of transactions its ledger can process by increasing the block size limit to eight megabytes.

So then what happened with Bitcoin Cash BCH? What does it mean when there is a fork? What is the future for BTC Bitcoin and for Bitcoin Cash BCH Bcash?

The would-be hard fork with an expanded block size limit was described by hardware manufacturer Bitmain in June 2017 as a “contingency plan” should the bitcoin community decide to fork implementing SegWit; the first implementation of the software was proposed under the name Bitcoin ABC at a conference that month. In July 2017, the Bitcoin Cash name was proposed by mining pool ViaBTC. The change, called a fork, took effect on 1 August 2017. As a result, the bitcoin ledger called the blockchain and the cryptocurrency split in two.

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Crypto currency is now in it’s first decade and to many they feel as if the crypto boom is over, however nothing could be further from the truth. However most people have difficulty figuring out how to Buy and Sell Bitcoin Online. In market trading the old adage of “Cut your losses and let your profits run” still applies more than ever today. Every expert agrees that now is just the beginning of a new era where computing power will take over electricity as a necessary and fundamental resource without which, we as a human race, will not be able to survive.

Everyone wants to invest and Buy and Sell Bitcoin Online but at this point in time, when crypto is still in it’s infancy, it is still difficult to enter the currency markets. Buying and selling Crypto currencies is not as easy as it seems. Exchanges can be difficult and time consuming. Bitcoin ATM’s are far and wide and the whole process can be maddening. For example: How can you store your digital assets safely to prevent them from loss or theft?

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Jillian Scotia

Jillian Scotia, Esq. is the managing partner of BYTCIO Cryptography, established in 1983. Jillian has been accredited by the multiple blockchain boards. As a leading specialist in the firm, Jillian uses her experience and personal relationships to get results for all BYTCIO’s clients. She is a talented and hard working coin concierge who never stops trying to bring another win for her clients.

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Andrew holds a Certified Blockchain Cryptography degree, and has over 18 years of experience as a Blockchain consultant in New York State. Andrew has personally handled quite a few high-profile ICO’s, both as a concierge as well as a client. He has represented over 100 Crypto Currencies and consulted with thousands of clients arranging their Bitcoin and Crypto Currency needs.

 

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Bitcoin Exchange CEX.IO
Bitcoin Exchange CEX.IO
Bitcoin Exchange CEX.IO