It seems like, after four days of battle, #BCash was forced to retreat. At least temporary. After hitting a bottom at $10700, some 18 hours ago, #Bitcoin has been steadily climbing and now and at the time of writing this, the price is $13900.
All in all, since 20 December, #BTC sustained a damage of roughtly 22% and #BCash of 36%.
I've seen many articles, here on Steemit, over the last few days, declaring $Bitcoin dead. Many. Now, I'm not sure why would people do that. Even if you had investments in BCash, why such headlines? I, personally, hate BCash to the guts, but are my headlines like: "BCash" is dead? No. First of all it's stupid. Second it's a lie. I don't want to be a stupid liar and I find it hard to see why anyone else would want to be one. I suspect these people are mostly paid to do so.
Anyways, not my problem.
But, let's not fool ourselves, this war is far from over. Even the battle is not finished yet. BCash is just "re-grouping", consolidating and preparing for another attack. They know they are weaker now and won't be able to repeat the recent blow again so they have to be cautions. Because, if they fail miserably in their next attack, that may be the beginning of the end of #BCash and confirm #Bitcoin as being a superior, No. 1 #cryptocurrency.
Now, people who are more technical, they do see, at least most of them, that Bitcoin algorithm is a superior to any other currency algorithm. All other "altcoins" are more or less, just copies backed mostly by marketing and a social media/conventional media fuzz. They just took the core idea of #Bitcoin, made a few, more or less, cosmetic changes, gave new currency a name and "voila", new crypto is born. That's how we have literally thousands of them now.
Now, of course, there is nothing wrong with the competition. But we need to see the difference between a healthy competition vs. "make money fast" schemes vs. "let's destroy #Bitcoin no matter what" which is the case of #BCash attack on #Bitcoin.
In my previous article., I briefly explained that the main difference between #BCash and #Bitcoin is the block size [read more about block sizes here.]
Basically:
- smaller block size = more nodes = more decentralization = Bitcoin
- bigger block size = less nodes = more centralization = BCash
There are currently:
- 10147 nodes running on the Bitcoin network.
- 1462 nodes running on the Bitcoin Cash network.
'nough said.
Also, if you prefer to learn by watching a video, watch this.
So, I guess that's if for today's post. Stay tuned for further developments.