Over the last 2 days BTC has dropped fast from its all time high of $19,800 to it's current value of $16,200 while Bitcoin Cash continues to shoot up at an incredible rate as I write these words now...
This surge most likely relates to the popular exchange Coinbase adding Bitcoin Cash to their list.
Just a week ago it was at $1500 and moments ago it moved past $3000. You won't see Bitcoin's value double in a week.
A sign of things to come?
We should all know by now about the scalilbility issue of BTC and the growing realisation amonst investors this is NOT the coin of the future in the way it has been sold to us.
On the contrarty, Bitcoin Cash is the one which I believe will ultimately replace Bitcoin. With it's familiar logo, fast transaction times, low fees and scalability issues resolved it is only a question of time before this coin reaches unprecedented heights as a genuine method of exchange for all of us in the future.
The future of Bitcoin itself is unclear. It will no doubt remain with us, but as a long term storage of value only. Not as a means of exchange for us common folk.
This is what BTC looks like currently.
What's the difference between Bitcoin & Bitcoin Cash?
If any of you are confused about how it is that we now have two competing Bitcoins with very different ideas behind them, please watch the video beneath, which for me is one of the best explanations I have seen on this subject.
Many thanks to Decentralized Thought for making this short and clear explanation.
The safest way to hold your Bitcoin Cash
Many seem to enjoy the (shape shift) convenience and look of the Exodus wallet but it is not as safe as the Electron Wallet which you can download here
External wallets are always safer than keeping your money on the markets as the exchange sites are not decentralised and many people have lost thousands there with little in the way of customer support to help them get it back.
Hope this has helped in your understanding of our current Bitcoin/Bitcoin Cash situation.
I have been backing Bitcoin Cash since it was just $300 so am feeling quite pleased with myself in this moment.
It shall be a merry Christmas indeed!
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