Will bitcoin cash rebound
bitcoin cash is affected by the tightening of domestic policies, and its price will continue to be low, especially the two sessions and G20 summit in March, which will have a huge impact on bitcoin cash. If the policies are good, bitcoin cash will return to the high point, if the policies are bad, it will continue to shake the market.
There are two relations between bitcash and bitcoin: bitcash is the bifurcated and competitive currency of bitcoin{ RRRRR}
Second, competitive currency. As the name suggests, they are two competing currencies. It is just like the competition of two kinds of homogeneous goods in the market, competing for market share. In the virtual digital currency market, the market share is so large that more people hold one kind of currency, the number of people holding another kind of currency will be relatively reced, forming a competitive relationship between you and me
in these two relationships, competitive currency is easier to understand, while forked currency is more difficult because it is a technical problem
is the relationship between the two currencies clear now
bitcoin cash (BCC) is a new version of bitcoin with different configurations launched by a small number of bitcoin developers. It is a new type of blockchain asset. At 20:20 on August 1, 2017, bitcoin cash starts mining, and each bitcoin investor's account will have the same amount of bitcoin cash (BCC).
The reason why the programmer threw away 7500 bitcoins as garbage is because these bitcoins are stored in the hard disk, and he carelessly threw away the hard disk
recently, a British programmer found that in 2013, he accidentally threw away the hard disk with 7500 bitcoin private keys as garbage
these 7500 bitcoins were g up by him on his personal computer. In order to retrieve the hard disk, he went to the landfill, but even if he "wanted to go back to the past", it was impossible to recover it. 7500 pieces, estimated at the current price of 32000 dollars, which is equivalent to throwing 240 million dollars into the garbage can
In fact, millions of bitcoins have been "lost" worldwide. But the "lost" bitcoin did not disappear. On the blockchain, you will record how many bitcoins you have in your name, but you need a private key to tradethe programmer is careless, that is, after throwing away the hard disk, he adds symbols to the string of very complex letters. Nowadays, the "value" of bitcoin has risen sharply. Those who lost bitcoin will naturally regret it
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reasons for bitcoin's recent surge:
according to the analysis of CICC's research report, bitcoin's price rose nearly three times from $7200 at the end of 2019 to $27084 (as of December 28, 2020), and became the asset category with the highest increase since the beginning of the year, Even more than the faamng tech giants index
in addition to the impact of global liquidity easing, the analysis shows that the financial innovation of financial institutions represented by PayPal, Robinhood and grayscale in broadening the channels of digital assets in the past year is the structural reason behind the nearly three times rise of currency price in the past year. In the short run, the price of bitcoin may fluctuate greatly, driven by liquidity and the inflow and outflow of speculative funds. However, in the long run, the continuous expansion of the traditional investor base is concive to the stable rise of the price of bitcoin and other digital assets
BCC, as a new type of blockchain asset generated by hard bifurcations of bitcoin, has a reason for its success
BCC maintains the goal of global point-to-point cash of zhongbencong
the proposal of BCC is not out of thin air, but to better realize the goal of "point-to-point encrypted e-cash system" described in the white paper of zhongbencong. For bitcoin, "Genesis block" is a pioneer. So no matter which fork you look at, whether it's bitcash, segwit2x or bitcoin core - there's one thing in common. They're all from the genesis block on January 3, 2009. Bitcash (BCC) maintains the goal of global point-to-point cash of zhongbencong, while the isolation witness plan turns bitcoin blockchain into settlement layer. On the second layer, lightning network center and other settlement schemes in the second layer will provide charging services to complete transactions faster
therefore, compared with most competitors, no matter which chain they are in, most of the coins have been g out, and there are only a few left. This creates the scarcity of digital currency, which creates value. The EDA (emergency difficulty adjustment rule) of bitcoin cash is also a very important step to ensure the survival of the coin envisaged by Nakamoto
no congestion and low handling charge are the key to the success of BCC
for the original bitcoin chain, the biggest problem now is transaction congestion and high handling charge. But these problems don't exist for bitcash. Because BCC removed segwit and removed the block size limit of 1m, there is no block size limit problem. This means that the use of bitcoin cash will not lead to transaction accumulation, so transaction fees will be lower. Compared with the average transaction fee of bitcoin original chain at $10, BCC costs only a few cents or less. With the advantages of transaction costs highlighted, many online enterprises and business accounts will join the BCC ecosystem to create a better payment system
BCC is the choice of the market and users
the success of BCC depends on the support of the market and users. No matter how good the proct is, it will be worthless if it leaves the users and the market.. Although BCC has changed the original intention of bitcoin technology, it is a new technology attempt, there are still many uncertainties in the future, but the emergence of BCC has also solved many problems. BCC has achieved rapid expansion through hard bifurcation, which solves the problem of transaction congestion of bitcoin for a long time. The large block owned by BCC can make the transaction faster and cheaper, which can truly realize the "point-to-point encrypted e-cash system" mentioned in the bitcoin white paper. This is unmatched by bitcoin in the short term. In order to solve the problem of bitcoin network congestion, the community has been arguing about it for a long time, but there is no good solution to put it into practice. The emergence of BCC makes this problem not only stay in controversy and theory, but also find a better solution through practice. As for how BCC will develop in the future, it still needs time and market to witness.