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Bitcoin Cash (BCH) vs Bitcoin (BTC): The Chain Death Cycle of Bitcoin

Bitcoin Cash (BCH) vs Bitcoin (BTC): The Chain Death Cycle of Bitcoin

Source: Crypto Daily

Bitcoin Gold (BTG) vs. Bitcoin (BTC)

One significant difference between BTC and BTG is the respective mining algorithms employed. The former uses SHA-256 while the later uses Equihash which is inspired form ZCash, a Cryptocurrency.

But the Bitcoin Gold developers have pre-mined 100,000 coins to fund themselves before opening the network to the general public. Also, the developers added a mining fee in the software that automatically deducts from the coins earned by the miners. Lately, an option became available to opt out. 

Bitcoin has way larger community and acceptance than BTG, which is an advantage for long-term success. Being famous has its disadvantages. Recently, fake transactions fluttered all over the Bitcoin network. Due to the block size and block time limits, the real transactions have struck for days without confirmations. And it eventually needs more burdensome transaction fees to attract the miners to pick your transaction and confirm it.

The Mining Issue

The core principle Bitcoin is decentralization and have no central authority. But as the days pass by ASIC hardware came into the picture. The ASIC manufacturers filled their pockets as the value of BTC rose, and the difficulty of mining has increased. And the general miners are ruled out.

The Bitcoin Gold uses Equihash algorithm to be ASIC resistant. And the algorithm is Memory intensive rather than depending much on processing power. A GPU is the crucial ingredient in the mining process. But the speculation is that one of the core team members of Bitcoin Gold owns a part in a massive GPU manufacturing company.

Conclusion

Finally, the fate of any Cryptocurrency is decided by the problems it solves. Moreover, the ease of use a currency brings the better sustainability.

The Whales have always had an eye on Bitcoin. Pumping and Dumping is the strategy they have with millions of dollars.

The new users should be aware that, the Cryptocurrency prices move a lot faster than the traditional markets, where the law prosecutes the people behind pump and dump schemes.

In the Cryptocurrency world identifying the owner of funds is much hard; let alone bringing the bad guys under the law.  

If you’re the owner of Bitcoin (BTC) before and during the fork, you can get the equivalent amount of Bitcoin Gold. Read how to get your Bitcoin Gold here.