Business 12 February 2018Erik Gibbs
Bitcoin Cash makes other coins look bad
The cryptocurrency world is full of surprises lately. Every day, there’s a new twist or turn, and the leading coins are advancing, but not as much as they would like. Legacy Bitcoin or SegWit1x (BTC), Ethereum and Litecoin jumped up a little, only to be back down by around 2% in the latest trading. Everyone seems to be attracted more to Bitcoin Cash (BCH), lately, and with good reason.
There’s no doubt that Bitcoin Cash is a true contender to lead the way in the cryptocurrency evolution. BCH has made a stronger rebound and its performing better than BTC, Ethereum and Ripple—a pretty impressive feat. As the cryptocurrency world continues to evolve, it’s quite possible that the momentum BCH is gathering is just the beginning of a long, very prosperous future.
Despite a recent dip in its price, BCH is up as much as 27%. BTC and Ethereum have only seen gains of around 4% in the same period. This trend is certainly not any type of official analysis of what could be coming down the pipe, but it has served to raise more than a few eyebrows and increase the interest in the cryptocurrency.
A lot of how cryptocurrencies perform hinges on the success of the coin that started it all, BTC. While there isn’t an intrinsic relationship between the two, there is a still a strong correlation between BTC’s performance and the performance of most other coins. When BTC took a nosedive recently, it grabbed onto BCH and took it along for the ride. BCH lost value against both the U.S. dollar and BTC before bouncing back greater than its predecessor when measured by percentage of gains.
This year is going to be a fascinating year to watch, and be a part of, the cryptocurrency markets, especially with BCH making moves. BCH is by far the leader of all the forks spawned from BTC. While SegWit Gold (SWG) hasn’t completely vanished, it’s talked about less often than the Tyson-Holyfield fight from 1997. It’s not unrealistic to think that BTC may have now reached the end of its usefulness, opening the door for Bitcoin Cash to take over.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.
Business 2 hours ago
Consensys announces partnership with LVMH, Microsoft
Consensys has just announced that they are partnering up with the luxury goods conglomerate LVMH and Microsoft for a blockchain-based platform.
Business 2 hours ago
Crypto in Africa: SA backed digital currency, users get a new app
South Africa is looking at developing their own stable coin, and Kudi exchange is looking to expand their services to the continent.
Business 3 hours ago
World Bank, CommBank collaborate to enable secondary bond trading
The World Bank have joined with CommBank to create a first of its kind process that will be able to record secondary transactions on distributed ledgers.