Posts about Bitcoin Cash
*disclaimer I don't own any BCH (unfortunately).
A new cryptocurrency exchange backed by giants of the traditional financial market announced, on Tuesday (20), the start of its operations with the trading of Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).
EDX Markets, as it is called, was already operating discreetly for a few days, as reported by the Wall Street Journal (WSJ), but announced the launch only on Tuesday. The institutional exchange is controlled by Wall Street giants Citadel Securities, Fidelity and Schwab Starts Operations.
The company's plan is to offer centralized exchange services to institutions and therefore will not serve retail or individual investors.
With the selected list of cryptocurrencies by EDX Markets, the major financial market institutions send a message about which crypto assets they are willing to trade, positively impacting investors' perception of each one of them, which may have caused the price increase.
Bitcoin Cash (BCH) is up 112% from $90.77 → $192.80 in a 13 days period.
https://i.redd.it/w78xw085ns7b1.pngBitcoin Cash is a cryptocurrency, the result of the division of the Bitcoin network in 2017, which resulted in two different currencies, with their own networks. BTC and BCH.
The division occurred, among several reasons, over the decision to increase the maximum capacity of transaction blocks, limited to 4 megabytes in Bitcoin (BTC).
Bitcoin Cash supporters increased the block limit, under the premise of allowing greater scalability, transaction capacity per second and lower network fees for using the blockchain created by Satoshi Nakamoto.
While opponents kept the block sizes as per the initial schedule, under the premise that the increase could harm the ability of 'node' operators to be able to store all transaction history in a network that would become too cumbersome.
In October 2010, Satoshi Nakamoto had already commented on the possibility of increasing the size of the blocks, in case the demand for the network increased in the future.
https://i.redd.it/horvllfuns7b1.png
I'm kinda of an outsider to the Bitcoin Cash community, although I like the protocol and love the community. But I mainly agree with most of you that — different from the Bitcoin Core community — price isn't the most relevant aspect to look at.
Nevertheless, price going up definitely helps to gather mainstream attention, so we can possibly educate people about Bitcoin Cash, addressing the lies and misinformation that is usually spread by the BTC people.
A practical example on this matter:
I started writing for Portal do Bitcoin in April, and, for what I can tell, the site rarely posted positive news about BCH.
But with recent listing o EDX and price going up, my editor approved two positive news in a week. Where I was able to explain that the two coins were the same until 2017, and briefly explained what motivated the chain split.
"Bitcoin Cash (BCH) Price Doubles Five Days After Listing on New Exchange"
"New exchange-listed tokens take off; Bitcoin Cash (BCH) Gains Over 30%"
This is a really important step, because most 2021 “enthusiasts”/investors still believe "BCash" is a scam/shitcoin. And don't really understand what happened back then.
Also was a great opportunity to talk about Cash Tokens and St Kitty & Nevis.
Something similar happened with my most recent post at r/cc.
I'm not much of a Bitcoin Cash guy (I have my personal favourites: Nano and Monero), but I've used BCH a few times, and will definitely continue to use it now and then (looking forward to visiting St. Kitty & Nevis). I guess I can say Bitcoin Cash is in third of my list of preferences.
But most important than that, in my opinion, is to educate people and contest the misinformation spread by fraudsters from the opposite side. And for that, I'm on your side.
Please, continue with the great work you are doing.
And enjoy these bright times that price movement is on your (ours?) side to spread good information and foment adoption. I don't really care which coin will “win”, as long as there are good decentralized money that I can use to improve my monetary sovereignty and opt-out from the fiat system.
Cheers!