Bitcoin Core Fees vs. Bitcoin Cash Speed – Which will it be?
Bitcoin Core vs Bitcoin Cash - or, Fees and Name value vs Liquidity
Depending on what you’re looking for in terms of risk, as well as the kind of trading you want to do, BCC or BTC may be more valuable investments. It’s is important to understand the differences between the two currencies before buying.
It’s like comparing windows and linux, they both work differently and as a buyer, you need to know what you intend to use the software for. You might find yourself with a lot of incompatibilities between your desired outcomes and the reality of the situation otherwise.
Bitcoin cash is centralised, with an astonishing 92% of all blocks being mined by the same two miners. This makes it a far more dangerous investment than the name value, core version of Bitcoin which is operating based on the mining operations of people all over the world, as well as huge dedicated rigs.
What this means for the trader is twofold, firstly a lower risk of a 51% attack and secondly, it’s a better investment. With many more people on different nodes around the network, there is greater privacy but also a greater interest in keeping the value of the currency stable, and its transaction speed at an operable level. In short, there’s a good probability that Bitcoin Core will have the staying power needed to prove itself as a reliable store of value.
Do you want faster liquidity in case of a crash? Do you want an easy payment method? Or a gold type investment that you believe will only mature- there is fans on both sides of the game. Entrepreneurs such as Roger Ver and Gavin Anderson have been shown their support for Bitcoin Cash in the past. Both make sense as investments, but if you want an actual cryptocurrency that’s works as payment but doesn’t murder you with fees, try Bitcoin Cash.
Bitcoin is the original cryptocurrency currently traded under the name ‘BTC’, as distinguished from ‘BCC’, the trading name for Bitcoin Cash. The difference between the two currencies traces back to a tension in the community between those who wanted BTC to remain a digital investment, and those who wanted a transactional currency.
Those who wished for a transactional currency worked to implement a solution to Bitcoins scalability problem, which was the cause of it’s slow transactions. By increasing the block-size limit, the transaction speed problem was solved and transaction fees went down, making BCC an excellent transactional currency.
This happened through a process known as a ‘hard fork’. The miners on the Bitcoin network decided whether to continue running the old blockchain software or the new Bitcoin cash software. Those left still running the old software would be mining Bitcoin (BTC), but those on the new software would be mining Bitcoin Cash (BCC).