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Author Topic: Bitcoin Relation To Bitcoin Cash  (Read 138 times)

JaceLee

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Bitcoin Relation To Bitcoin Cash
« on: July 30, 2019, 01:25:24 PM »

Please clarify. Is Bitcoin Cash the same as regular Bitcoin? It seems to me that awhile ago Bitcoin owners were being encouraged to move their Bitcoin into Bitcoin Cash in order that they might receive twice as much return from it than if we left it in Bitcoin. Is that still the case?

agustd0309

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Re: Bitcoin Relation To Bitcoin Cash
« Reply #1 on: August 02, 2019, 12:14:51 PM »
Bitcoin Cash is modelled on Bitcoin, it is a separate entity because of the hardfork, which was introduced to ensure faster transactions with lower transaction fees.
  • BCH was mainely introduced for the ease of transactions.
  • The block size of Bitcoin was increased from 1 MB To 8 MB BCH, this increase in the block size lead to the transactions to be processed faster.
  • People will pay or get paid with BCH, which can be processed in smaller amount of time.
  • Transaction using BCH costs less compared to Bitcoin.

BCH is designed similar to Bitcoin with larger block size and quicker transactions but it has never overcome the Bitcoin. The Current BTC price is 31 BCH. source: CoinSiwtch One can convert btc to bch at the best rate.

emililadjet

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Re: Bitcoin Relation To Bitcoin Cash
« Reply #2 on: August 02, 2019, 08:14:31 PM »

Please clarify. Is Bitcoin Cash the same as regular Bitcoin? It seems to me that awhile ago Bitcoin owners were being encouraged to move their Bitcoin into Bitcoin Cash in order that they might receive twice as much return from it than if we left it in Bitcoin. Is that still the case?
Hello  JaceLee
Bitcoin cash is the result of a Bitcoin fork. There are also other things like that, similarities and differences I don't think are much different. People only care at the beginning of forking because usually it's quite profitable
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khufuking

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Re: Bitcoin Relation To Bitcoin Cash
« Reply #3 on: August 02, 2019, 08:28:54 PM »
Bitcoin cash is just a fork from the original Bitcoin they are not similar and the only connection between them is the fork, even now if you have wallet they had old Bitcoin on it you can still claim your free Bitcoin-cash and that will not affect the amount you are holding from the original Bitcoin it is just something extra, to claim you free Bitcoin cash you can easily search and choose a method (there is a lot of methods) to claim you free Bitcoin-cash.

tsakf

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Re: Bitcoin Relation To Bitcoin Cash
« Reply #4 on: August 03, 2019, 08:15:59 PM »
Bitcoin Cash, is a different project. If you has Bitcoins, in your wallet before the fork (the creation of Bitcoin cash), you can claim those coins, on Bitcoin cash blockchain.
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Obiwankenodium

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Re: Bitcoin Relation To Bitcoin Cash
« Reply #5 on: August 03, 2019, 08:58:03 PM »
Bitcoin Cash, is a different project. If you has Bitcoins, in your wallet before the fork (the creation of Bitcoin cash), you can claim those coins, on Bitcoin cash blockchain.
if someone had Bitcoin from before the Bitcoin cash fork, would that person still be able to claim the Bitcoin cash or is that not possible anymore?
         
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Dprincebh

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Re: Bitcoin Relation To Bitcoin Cash
« Reply #6 on: August 04, 2019, 01:04:57 PM »
Bitcoin cash was forked out of Bitcoin. At that time if a user has 10 bitcoin he will receive the same amount of Bitcoincash that is he will also receive 10 Bitcoincash. That is why they are related. Beautiful they are using the same blockchain
        
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