No surprises there: Infographic explores Bitcoin Cash triumphs

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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 5.63% increase with the coin trading at $1,380 level, and looking to test the $1,400 soon. Analysts expect the price to continue rising and hitting 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 the 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 use their coins in the day-to-day activities. This has greatly influenced the growth of BCH as compared to other coins.

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.

Institutions and companies are joining the Bitcoin Cash community. Last week, Bitclub Network announced that payments to their networks would be done in Bitcoin Cash instead of BTC. The mining pool said that the cost of BTC transactions was becoming too high and they are opting for Bitcoin Cash, although they are still mining BTC.

Socks company Kimchi Socks also started accepting Bitcoin Cash payments. In fact, the company has arranged for BCH socks pre-sale, offering socks at 50% off to Bitcoin Cash customers.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

The post No surprises there: Infographic explores Bitcoin Cash triumphs appeared first on Coingeek.

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