Not everything that starts with a “Bitcoin” is the same

It seems like everywhere you turn you encounter the term bitcoin; it’s almost like the whole cosmos is only talking about the cryptocurrency that went for a roller coaster ride. And the term is used not only when you talk about investments and the future of cashless trading but also for scams. While it is true that scammers are becoming bolder by the day and are out to outwit people with everything and anything.

That being the case, the bitcoin obviously could not escape, more so since it is the virtual currency with no known regulatory board governing it. There are several bitcoin software on the internet which con people into investing in them but thankfully, not all software are the same. Bitcoin Loophole is one such software which works only with legit brokers and is above board in its dealing. Find out for yourself that Bitcoin loophole is not a scam.

Once you have identified a genuine software the next step is to determine the difference between bitcoin and bitcoin cash.

Difference between bitcoin and bitcoin cash

If you are new to bitcoin trading it is crucial that you know that bitcoin and bitcoin cash are two different currencies. Initially, there was the only bitcoin but once people realized the immense potential this virtual currency had, they had to conceive ways to increase its scalability. That is when a new technology called a segregated witness or SegWit2x was introduced. This technology was introduced with the idea to reduce the processing time for each bitcoin transaction. This lead to the mining of a bitcoin of 1 GB block, 1000 times bigger than its initial 1 MB.

But all bitcoin miners were not in agreement with this concept and this lead to the hard work and the birth of bitcoin cash. This currency has faster transaction speed with an accelerated verification process. The block size here is 2MB thereby supporting the speedy transactions.

Which is better?

Each has its own pros and cons. For example, bitcoin is decentralized with millions of miners whereas bitcoin cash has only three mining pools which are not a very desirable situation. Bitcoin Cash is more stable and secure when compared to bitcoin.

The future

There are those who believe that bitcoin cash can become the future transaction currency and one should invest in it while others feel that currently, bitcoin cash lacks the scalability of bitcoin and hence will never be able to go higher than bitcoin.

 

Published in Blogging by Georgia Taylor.