There are two factions of bitcoin supporters, that support large blocks or small blocks. The Bitcoin Cash faction favors the use of its currency as a medium of exchange for commerce while the Bitcoin-supporting faction view bitcoin's primary use as that of a store of value. Some Bitcoin supporters like to call Bitcoin Cash “Bcash,” “Btrash,” or simply a scam, while Bitcoin Cash advocates insist that their implementation is the pure form of Bitcoin.
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At the time of the software upgrade (also known as a fork) anyone owning bitcoin was also in possession of the same number of Bitcoin Cash units. The technical difference between Bitcoin Cash and Bitcoin is that Bitcoin Cash allows larger blocks in its blockchain than Bitcoin, which in theory allows it to process more transactions per second. Bitcoin Cash was the first of the Bitcoin forks, in which software-development teams modified the original Bitcoin computer code and released coins with “Bitcoin" in their names, with "the goal of creating money out of thin air." In relation to Bitcoin it is characterized variously as a spin-off, a strand, a product of a hard fork, an offshoot, a clone, a second version or an altcoin. On 1 August 2017 Bitcoin Cash began trading at about $240, while bitcoin traded at about $2,700.
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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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