Hello steemit crypto traders,at last the much talked about hard fork happened ,it was a a key test for bitcoin in its evolution beyond a store of value and show its potential to grow into something much greater. Bitcoin fell by around 4pc to around $2,700 (£2,000) after the fork, while the predicted price of Bitcoin cash rose from just over $200 to about $370, but traders are still unsure what will happen when the dust settles.
Finally Bitcoin cash (BCC) is here but the major question is will it survive?will the exchanges accept its use and transactions? Prior to the hard fork there was a mad rush of some investors buying bitcoin selling and dumping altcoins all in a bid to get free bitcoin cash tokens, but adoption of Bcash as a network will be limited in the short term. Bitcoin exchanges, such as BitMEX, Bitstamp and Coinbase, have said they will not support or allow trading of Bitcoin Cash on their exchanges, which means investors holding bitcoins on these sites will not receive any new tokens.
The bitcoin cash fork is fully underway but the process itself could take up to several hours or even days to complete, BTC blockchain is five blocks ahead of the BCC blockchain which is yet to produce its own currency.
Bitcoin Cash is expected to increase the transaction limit to 8 megabytes by the minority of miners a far cry from SegWit2X increase number of transaction to 2 megabytes
W experienced a similar case scenario in 2016 with Ethereum, hence now we have Ethereum and Ethereum classic, both valuable technologies with Ethereum (the offshoot) second to bitcoin, and Ethereum Classic occupying 7th position.
Time will tell if Bitcoin cash (BCC) will thrive or fail,but nevertheless Bitcoin is here to stay.Your comment and suggestion are always welcome and well appreciated
