A big question from today is if Craig Wright is about to bring about the downfall of Bitcoin Cash?
Just to prevent you from worrying, Bitcoin Cash isn’t going to physically (or virtually?) die. It’s very unlikely that this could happen. Even Paycoin, the coin created by Josh Garza to scam those unfortunate to be scammed, is still technically kicking.
So, if this coin still has somewhat value, Bitcoin Cash surely could keep going for years and years.
Bitcoin won’t end in the sense that it will ever hold no value whatsoever or that no one is manning the fort, so to say. But Bitcoin Cash could be on a path which might lead to its ‘functional death’.
The big issue with the community is simple – it’s collapsing. This might come as a surprise to many however, for some this might have been expected when you consider that the whole coin is based around the main fracturing community.
One of the main minds behind the team who created Bitcoin, Craig Wright has been discredited is almost every way and has now decided that the increase the blocksize of Bitcoin Cash to 32MB isn’t enough and he wants to increase it 128MB and he was eager to split the chain again to do so.
Of the sub coins of Bitcoin, Bitcoin Cash is the most successful. The rest haven’t made much of an impact, if any at all and have only shrunk since their creation. Bitcoin Cash now seems to be following in their footsteps, but it started with a big impact which gives it a leg up in the market. By market-cap, it is still one of the big coins but all of the measurables are decreasing and don’t seem to be part of the general cryptocurrency bear market.
The Bitcoin Cash price is slowly but steadily decreasing. When it launched it was priced at around 0.19 BTC whereas today it is worth 0.08BTC. When Bitcoin Cash was introduced to Conibase the number of transactions spiked but even so, the price has now fallen once more outside of the stress tests. Even Bitcoin Cash’s hashrate, previously trending upwards since the invention has been trending down since around mid-July.
What do you think? Is this the beginning of the end for Bitcoin Cash? Let us know down below in the comments!