10 things about Bitcoin Cash that you need to know on its Hard Fork Day

Two incompatible coins, gangster wars and an absolutely unpredictable future of the fourth currency of our days.

Ver vs. Wright

Today Bitcoin Cash will reach its hard fork. The main characters did everything in their power to make this event as hot as possible. Not as hyped as Khabib against Connor, but something similar. Besides, the world will get two more cryptocurrencies today.

In case you were out volunteering in places where there’s no internet, this text will help you sort out what’s happening.

1. Bitcoin Cash is the most successful bitcoin fork as of today. In August 2017 developers increased a block’s maximum size from 1 to 8 megabytes, which increased the transaction speed from 7 to 61 (actually, it doesn’t really work like that. Oh well, let’s not go into details now).

2. The coin’s capitalization is somewhere around 10 billion dollars. It’s on the fourth place, preceded by BTC, ETH and XRP. During its peak, the price reached 4 thousand dollars. As of today, it’s 450 bucks.

3. In December 2017 a test indicated that the price for a transaction in Bitcoin Cash is 99,56% lower than of the original Bitcoin (although it’s a particular case connected to the Bitcoin network attacks). The fork itself breaks the ‘code is law’ principle of the unchangeability of blockchain. And its trade volume is 2 two times lower than Dogecoin. And it’s not a meme.

4. Many consider BCash a ‘centralized altcoin’. Nick Szabo thinks of it as a ‘centralized sock puppet theater’, since 56% of all coins is stored in 67 wallets, which are not registered on exchanges. And 98% of nodes is controlled by one server.

5. Roger Ver is the main evangelist for Bitcoin Cash. At the turn of the century, this businessman was side dealing some explosives, then got into dark net and crypto currencies, he was connected with the Mt Gox bankruptcy and Columbian drug cartels. Together with JIhan Wu (ex-CEO of Bitmain, one of the biggest companies that make mining equipment) they are promoting Bitcoin ABC fork.

Read more here: https://shitcoinoffering.com/10-things-bitcoin-cash-need-know-hard-fork-day/