Bitcoin (BTC) is a consensus network that enables a new payment system and a completely digital currency. Powered by its users, it is a peer to peer payment network that requires no central authority to operate. On October 31st, 2008, an individual or group of individuals operating under the pseudonym "Satoshi Nakamoto" published the Bitcoin Whitepaper and described it as: "a purely peer-to-peer version of electronic cash, which would allow online payments to be sent directly from one party to another without going through a financial institution."
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“The arguments have devolved over three or four years of bitter debate, the principles are real and they are important to preserve, but a lot of the drama has nothing to do with principles anymore. A lot of this debate is now more about hurt feelings. It’s about bruised egos. It’s about things that were said that can’t be unsaid, insults that were exchanged, and personalities and ego.”
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Bitcoin mining saps energy, costly, uses more power and also the reward delays. For mining, run software, get your wallet ready and be the first to solve a cryptographic problem and you get your reward after the new blocks have been added to the blockchain.Mining is said to be successful when all the transactions are recorded in the blockchain and the new blocks are added to the blockchain.
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Bitcoin Cash trades on digital currency exchanges including Bitstamp, Coinbase, Gemini, Kraken, and ShapeShift using the Bitcoin Cash name and the BCH ticker symbol for the cryptocurrency. A few other exchanges use the BCC ticker symbol, though BCC is commonly used for Bitconnect. On 26 March 2018, OKEX removed all Bitcoin Cash trading pairs except for BCH/BTC, BCH/ETH and BCH/USDT due to "inadequate liquidity". As of May 2018, daily transaction numbers for Bitcoin Cash are about one-tenth of those of bitcoin. By November 2017 the value of Bitcoin Cash, which had been as high as $900, had fallen to around $300, much of that due to people who had originally held Bitcoin selling off the Bitcoin Cash they received at the hard fork.
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BCH is a cryptocurrency established as a result of the hard fork that took place to manage the scalability problem. Bitcoin Cash has a number of significant differences to Bitcoin: it is advertised as being faster and cheaper to use, the maximum block size is eight megabytes against one in previous Blockchain, and it has an emergency difficulty adjustment feature. Bitcoin Cash also uses 0-conf (or zero-conf) which allows for nearly instant transactions, meaning Bitcoin Cash transactions are almost always confirmed in the next block.
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Both Bitcoin as well as Bitcoin Cash use a proof-of-work algorithm to timestamp every new block. The proof of work algorithm used is the same in both cases. It can be described as a partial inversion of a hash function. Additionally, both Bitcoin and Bitcoin Cash target a new block to be generated every ten minutes on average. The time needed to calculate a new block is influenced by a parameter called the mining difficulty. If the total amount of mining power increases, an increase of the mining difficulty can keep the block time roughly constant. Vice versa, if the mining power decreases, a decrease of the mining difficulty can keep the block time roughly constant.
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