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Bitcoin Cash is a split from Bitcoin with a protocol upgrade to fix on-chain capacity. If Bitcoin Cash gets majority of Proof-of-Work then it becomes de facto Bitcoin. It will be a Bitcoin without Segregated Witness (SegWit) as soft fork, where upgrades of the protocol are done mainly through hard forks, without changing the economic rules of the Bitcoin . Bitcoin Cash will be a fork of the Bitcoin blockchain, one-to-one.
Bitcoin Cash (BCH) is an upgraded version of the Bitcoin Core software. It was released on August 1st, 2017. The main upgrade offered by Bitcoin Cash is an increase of the blocksize limit to 8mb. This effectively allows miners on the BCH chain to process more payments per second. This makes for faster, cheaper transactions and a much smoother user experience.
With Bitcoin Cash, you can send money to anyone, anywhere in the world, 24 hours a day, 365 days a year. Like the Internet itself, the network is always on. No transaction is too big or too small. And you never need anyone’s permission or approval.
The seizing of capital from account holders (“bail-ins”) that occurred in Cyprus and nearly in Greece, demonstrated that bank deposits are only as safe as political leaders decide. Even under the best of conditions, banks can make mistakes, hold funds, freeze accounts, and otherwise prevent you from accessing your own money.
Banks can also decide to block your transactions, charge you fees, or close your account without warning. Bitcoin Cash gives you full, sovereign control over your funds, which you can access from anywhere in the world.
The Bitcoin Cash protocol ensures there will never be more than 21 million coins in existence. Governments constantly print money out of thin air, endlessly inflating the supply and devaluing everyone’s savings. Bitcoin Cash has a fixed supply and therefore represents sound money.
Bitcoin Cash offers more privacy and anonymity than traditional payment systems like bank transfers and credit card payments, since it’s normally impossible to know who controls a Bitcoin address.
Bitcoin Cash offers various levels of privacy depending on how it is used. It’s important to educate yourself thoroughly before using BCH for privacy purposes.
Many merchants offer discounts for paying in Bitcoin Cash, because it eliminates credit card fees and helps grow the adoption of this new payment system.
Storing and managing tokens on a blockchain provides greater transparency and integrity than traditional forms of asset accounting and trading. Bitcoin Cash supports token protocols that power a variety of projects, and it is easy to create your own token backed projects.
Bitcoin Cash is a permissionless, open network. It empowers you to engage with your fellow human beings without intrusion. It’s decentralized, voluntary, and non-aggressive. As usage grows, old power structures will erode while fresh ideas blossom. It may help usher in the greatest peaceful revolution the world has ever known.
