No surprises there: Infographic explores Bitcoin Cash triumphs
Contrary to what BTC trolls would have you believe, Bitcoin Cash (BCH) is thriving and continues to rise to even greater heights. In the more than eight months since Bitcoin BCH was created, the community has seen increasing development activity that coincided with the rapid development in the technical infrastructure underpinning BCH—the true remaining Bitcoin as envisioned by the Satoshi Nakamoto whitepaper.
In the last 24 hours, Bitcoin Cash experienced over 5% increase with the coin trading at $1,380 level and looking to test the $1,400 soon. Analysts expect the price to hit the $2,000 mark in May.
Is Bitcoin Cash dying?
Yours.org user Sere recently debunked BTC camp’s belief that Bitcoin Cash is dying using an infographic that compared the changes in the BTC and BCH networks over the past six months. The infographic showed what the BCH community has always known (and most BTC supporters have feared)—that Bitcoin BCH has triumphed in “a couple of critical success criteria.”
Using data from BitInfocharts and lnmainnet.gaben.win, the infographic showed that since late October, not only did the BCH price grow “at a higher rate” compared to BTC, but the usage of the BCH network has been growing faster while BTC “is actually shrinking,” thanks to the Lightning Network which “added virtually no additional capacity to the BTC network in the past six months.” In addition, “relatively more mining hashpower has chosen BCH over BTC.”
The success of Bitcoin Cash can be attributed to the community, which has been relentless in making sure that the network scales to greater heights and that the cryptocurrency is actually utilized. Unlike most BTC owners who store their coins and wait for them to add value, BCH owners find ways to use their coins in their day-to-day activities.
On May 15, Bitcoin Cash will go through a second capacity upgrade to increase its block size to 32MB and to re-activate smart scripting capabilities that were in the original Satoshi Nakamoto white paper.
To date, a growing number of institutions and companies around the world have started supporting Bitcoin Cash. In April alone, BitOasis, a cryptocurrency wallet and exchange platform in North Africa and the Middle East, and Singapore-based CoinHako announced their support for BCH, while BitPay expanded its Bitcoin Cash support, allowing merchants to accept the cryptocurrency on its Checkout point-of-sale (PoS) app.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as SegWitCoin BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins. Altcoins, which value privacy, anonymity, and distance from government intervention, are referenced as dark 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.