BlockChain News
A Free Market Approach to The
Bitcoin Cash Situation
that there is nothing wrong with compet-
ing cryptocurrencies. While it is true, the
Bitcoin hard fork is far from a perfect solu-
tion, what conspired was inevitable in that
Bitcoin holders were split from the get
go on Bitcoin’s future. The only solution
to this matter is to give Bitcoin holders a
choice; the choice to hold or sell Bitcoin or
Bitcoin Cash.
Will Bitcoin Lose Value?
Theoretically, Bitcoin should decrease by
the value of Bitcoin Cash as that value has
been transferred to Bitcoin Cash (keeping
in mind traders may have foreseen the
drop in advance). However, Bitcoin prior
On August 1st, the Bitcoin community
to the split was already on an uphill trend
witnessed the very first blockchain split
of the Bitcoin network. What this means is and it was only the continuous usage of
users who owned Bitcoin prior to the hard the Bitcoin blockchain that prompted a
scaling solution. If Segwit2X is implement-
fork now have Bitcoin, as well as, Bitcoin
ed, there is no reason why Bitcoin won’t
Cash. Whatever side you take in the Bit-
coin scalability debate, it may be far from continue that uphill trend. Furthermore,
those with access to their private keys
a perfect solution. After the Bitcoin com-
who receive Bitcoin Cash shouldn’t lose
munity made the decision to implement
any money for the value lost in Bitcoin is
2X, Bitcoin Cash immediately reacted to
counteracted by the value backing Bitcoin
the news in protest by announcing they
Cash.
would hard fork Bitcoin in order to keep
the intentions of the creator Satoshi Naka-
moto intact.
Does this undermine Bitcoin?
Initially, most likely. The current debate
Does Bitcoin Cash Have The
is similar to a debate on Gold and Silver.
Imagine a society that is solely run on
Right To Exist?
Whatever your beliefs on Bitcoin; whether currency backed by Gold. Suddenly, the
you think Segwit2X should be implement- government decides that Silver is now
a legitimate medium of exchange along
ed or not, it should be important to note
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