Bitcoin has seen many forks through its eight years, but BCH took the novel step trustless bitcoin news duplicating every user’s existing balance — if you owned 3. 3 Bitcoin at the time of the fork, you owned 3.
3 units of Bitcoin Cash after. Right now, sending Bitcoin is very slow and expensive because people are performing transactions much faster than the network can confirm them. BCH fans say that their coin can handle Bitcoin’s transaction volume without high fees or long wait times because of the larger size of blocks in its blockchain. NYT said it, WSJ said it, Ars says it, every academic had been calling it out.
There’s a big change and it’s not good for Bitcoin. Bitcoin advocates attack BCH for what they perceive as misrepresentation — piggybacking off the popularity of BTC instead of trying to build up their project on its own merits. Bitcoin Cash is the true Bitcoin. Bitcoin Cash wallet instead of a BTC one by default. A recent, unverified anecdote from a Bitcoin fan claims that he witnessed someone lose money trying to buy Bitcoin at an ATM, not realizing that the wallet he created with Ver’s app could not receive it. I’m at a bitcoin atm in Athens. C5qSYMoby’s confusing iOS wallet UI in 5 minutes of being here.
Coinbase is one of the biggest companies for people in the English-speaking world to convert their fiat currency into digital currency. Coinbase and its real-time trading platform GDAX have made the process simple enough for many users who are not technologically savvy. Until Tuesday, Coinbase only exchanged fiat currency for Bitcoin, Litecoin, and Ethereum. 100 into the three digital currencies they sold before Tuesday: Bitcoin, Litecoin, and Ethereum.