Bitcoin is the new wave of currency. This cryptocurrency is a decentralized currency that exists within network of computers also within a blockchain. Bitcoin is known for its safely transfers because of its ledger-recording technology. It is verified by a majority rule, not just by a individual. Therefore making the blockchain far more difficult to manipulate. Bitcoin Cash is a fork of Bitcoin Classic that was created in August 2017
The thing about Bitcoin is that the transfers are very slow. The time it takes to verify the transaction is about 10 minutes. The Bitcoin technology only can process about 7 transactions a second. Furthermore as bitcoin users grow, transactions will take longer. As it gets overloaded with transactions without a change in the underlying technology.
Bitcoin (BTC) or Bitcoin Cash (BCH)
Back in July 2017, mining pools and companies had 80-90% of Bitcoin computing power. It was voted to incorporate a new technology known as a segregated witness. This was called SegWit2x. In mid-October, Bitcoin scientists revealed they have mined the world’s first 1GB block, therefore being a 1,000 times bigger than the normal size.
Bitcoin miners and developers grew concerned of cryptocurrencies future. Because of its ability to scale effectively. In august 2017, miners and developers initiated a hard fork. This would create the new cryptocurrency of the future. Bitcoin cash has made improvements on the verification time by making the block bigger than ever before. They increased the block size to 8MB, also adjustable level of difficulty. This was to ensure the chain’s survival and transaction verification speed. The security of Bitcoin cash is questionable in my eyes.
After doing some research, I have found that miners such as myself find it harder to mine bitcoin cash. Because of its large block, it takes a lot more computer power leaving big companies at the control. Furthermore I am interested in seeing where this goes for small miners like me. I will be keeping a close eye on the Bitcoin cash. I will still be mining Bitcoin classic at the same time doing a little Bitcoin cash mining.
Free Bitcoin Miner
There are several Bitcoin mining programs out there. The one I have found to be most effective with a great referral program would be Smart Miner. This program is free to use. If you have a laptop or desktop you can start your mining today by going here, SMART MINER. When you sign up you will receive 1mBTC for free. How cool is that! Its not only free, You are also getting paid to use this miner. Payouts are 100% with this hassle free program. If you have a GPU within your computer, Smart miner will use it. Furthermore allowing you to build your profits. So get started today under 3 minutes just GO HERE.