Bitcoin Jesus is they prefer to call him , Bought Bitcoin when it was $1 , and look what he thinks about Bitcoin Cash .
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As a result of the bitcoin scalability debate, the cryptocurrency split on August 1, 2017,creating Bitcoin Cash (BCH)—a derivative, called also a hard fork of bitcoin.To improve scalability, Bitcoin Cash increased block size limit from one megabyte to eight megabytes.
On July 20, 2017 Bitcoin Improvement Proposal (BIP) 91, aka Segregated Witness, activated.
Some members of the bitcoin community felt that adopting BIP 91 without increasing the block-size limit would simply delay confronting the bitcoin scalability problem and that it favored people who wanted to treat bitcoin as a digital investment rather than as a transactional currency.
The plan to do a hard fork was first announced by Bitmain. The project was originally referred to as UAHF: A contingency plan against UASF (BIP148) by Bitmain on their corporate blog, which the ASIC bitcoin mining hardware manufacturer would launch if BIP 148 (a User Activated Soft Fork) succeeded.Subsequently, developers took interest in the project. The Bitcoin Cash name was originally proposed by Chinese mining pool ViaBTC.
The first implementation of the Bitcoin Cash protocol called Bitcoin ABC was revealed by Amaury "Deadal Nix" Séchet at the Future of Bitcoin conference in Arnhem, Netherlands. The Bitcoin Cash hard fork was announced to take place on August 1, 2017.
Upon launch, Bitcoin Cash inherited the transaction history of the bitcoin cryptocurrency on that date, but all later transactions were separate. Block 478558 was the last common block and thus the first Bitcoin Cash block was 478559. Bitcoin Cash cryptocurrency wallet started to reject BTC block and BTC transactions since 13:20 UTC, August 1, 2017 because it used a timer to initiate a fork. It implements a block size increase to 8 MB. One exchange started Bitcoin Cash futures trading at 0.5 BTC on July 23; the futures dropped to 0.1 BTC by July 30. Market cap appeared since 23:15 UTC, August 1, 2017.
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