Bitcoin Cash Price Viewing
On Friday night, the bitcoin cash price was around $533. According to industry research firm CoinMarketCap.com, Bitcoin has fallen 67% compared to the intraday high of $20089 set in December last year, while Bitcoin cash has fallen 88% from a high of $4355.62.
The bear market of the encrypted goods slammed the investors who bought Bitcoin in the most frenetic period of this kind of goods last year. But for those who invest in Bitcoin competitors who once seemed to have a bright future, the losses are even more devastating.
The bitcoin market value has also fallen sharply, but the poor performance of Bitcoin cash is particularly eye-catching, as it involves a larger theme: whether virtual goods can truly become a substitute for traditional goods. payment method. Proponents of Bitcoin cash once felt that the cargo could solve the problem that they thought it would block Bitcoin from becoming a mainstream payment tool like PayPal or Visa.
The currency's market trend is independent of the original version of Bitcoin. Many Bitcoin holders see it as a hedge against the collapse of government-backed goods, but they don't often use it to buy things. The camp pointed out that the bitterness of Bitcoin's operation has led people to regard it as a means of value storage like gold, rather than a daily payment method for buying goods such as Big Mac hamburgers and cappuccino.
Supporters, including Roger Ver, a well-known encrypted goods investor often referred to as “Bitcoin Jesus” - thought that the original bitcoin network was too slow and users sent bitcoins to each other. The cost of payment is too high. After failing to change Bitcoin's internal steps, the rebels stopped this type of attempt and instead created Bitcoin cash. The underlying technology of this new type of encrypted cargo is almost the same as the original bitcoin, but it has been fine-tuned to speed up the transaction and reduce the cost. There is still a heated debate about whether Bitcoin has any benefit as an exchange medium.
Bitcoin and other cryptocurrencies like Ubiq coin and procurrency, have not become a popular form of payment for a number of reasons, such as their price fluctuations and the regulatory environment is uncertain. These factors make many merchants unable to accept payments in cryptocurrency.
