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Official News 23.03.2018 Bitcoin Cash and other Bitcoin forks

Discussion in 'MMM Global - English' started by Indy, Mar 25, 2018.

  1. Indy

    Indy Administrator

    Messages:
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    You can use two ways to participate in МММ: fiat (traditional) money and a cryptocurrency. We recommend using the second way - cryptocurrencies, since it is faster, safer and more profitable.

    Bitcoin, which we all know and love, is not quite perfect. When its price exceeded $5,000, problems started to emerge. To solve them, some ambitious users try to create their “small” bitcoins that are called forks.

    Bitcoin issues

    Bitcoin has periodical problems associated with the influx of a huge number of new users. Over time, when Bitcoin became really expensive and continued growing in price - online transactions started to process slower and fees increased.

    These issues were envisaged by Bitcoin creators who knew that in the future they might be resolved through so called forks. If you imagine Bitcoin as a tree, then a fork is a branch, seedling. It can be separated from a basic tree and another tree may grow from it - similar but still different.

    Earlier forks

    The first fork was Bitcoin XT. It was created as far as 2014. A lot of specialists understood already at that time that Bitcoin might face problems in the future. The first fork wasn’t a very good one, it hasn’t been welcomed by the society and now is practically forgotten.

    Then it was Bitcoin Unlimited that appeared in 2016. This fork was accepted better than a previous one. It successfully survived a DDOS attack and continues to exist, though not many users deal with it.

    After that, Bitcoin XT developers made the second attempt to create a fork. As a result of the correction work Bitcoin Classic was created. But that fork was experimental, trial, although the cryptocurrency community accepted it enthusiastically.

    Bitcoin Cash

    Bitcoin Cash was created based on Bitcoin Classic, which has already gained popularity nowadays. This fork can be considered a more successful Bitcoin fork - it costs much now and has potential. The Bitcoin Cash network is vigorously developing. The fork has a big and active “support team”, among whom there are many former supporters of a major Bitcoin, including an active ideologist-investor Roger Ver.

    Adherents even believe that the Bitcoin Cash fork is not a fork, but a real, true Bitcoin. And that Bitcoin from which it was splitted they consider as outdated and predict it will soon leave the cryptocurrency stage. Its place, to their mind, clearly should be taken by Bitcoin Cash.

    But, of course, it is not necessarily should happen. Bitcoin is much more expensive, has far more extensive and powerful economy, it takes the overwhelming part of the cryptocurrency market and has much more supporters. And the issues that it encounters at times can be well resolved in the future. Nevertheless, Bitcoin Cash remains a profitable and popular alternative.
     
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