Bcash forked off from Bitcoin with two main promises: To enable fast and cheap payments and to maintain the real vision of Satoshi. The name is build upon these features, it should be the Bitcoin as Satoshi has created and as easy to transfer as Cash. However, six months after the creation of Bcash, a system on top of Bitcoin is created that fits this description way better: The Lightning Network!
Lightning beats Bcash
Bitcoin Lightning is the real Bitcoin Cash!
Bcash is not Bitcoin Cash
Bcash simply can’t be called Bitcoin Cash because:
Bcash is not Bitcoin
Satoshi designed the Bitcoin network in a way that updates are only executed when consensus is reached. When consensus is not reached, the minority will split off the main chain and create an altcoin. This was clearly Satoshi’s vision, and beside that it is an obvious technical fact. This makes Bcash with less than 5% consensus a failed upgrade and BTC the real Bitcoin.
Bcash is not cash
Bcash can be send for about one dollar cent at the moment and it will take up to ten minutes for the transaction to be confirmed. Cash is transferable instantly and without any fee. This means that Bcash is certainly not comparable to cash. I have to admit that it is cheaper then on chain BTC payments (with BTC you pay for quality), but it is certainly no cash.
Bcash fan:
But Bcash has 0-confirmation transactions, they are instant
Me
Yes, but that is a very insecure solution and NOT Satoshi’s vision!
According to Satoshi: 0-confirmation transactions are no transactions
Lightning IS Bitcoin Cash
Lightning Network comes much closer to the envisioned product, let’s call it Bitcoin Cash!
Lightning Network is Bitcoin
Lightning Network is a network of payment channels build on top of Bitcoin. The payment channels are created by signed Bitcoin transactions that are not send to the blockchain yet. This creates the ability to make an unlimited amount of instant and extremely cheap transactions within the payment channel without using the blockchain. The blockchain is only used to bring money into the network, to take it out or to force someone who doesn't follow the rules. Since Lightning transactions ARE Bitcoin transactions, it is fair to say that Lightning IS Bitcoin.
Lightning Network is Cash
Lightning payments are as instant as cash, and with a fee of around 1 Satoshi almost free. This means that measured in speed it is as good as cash, and measured in expenses it comes extremely close. Obviously, it is WAY better then Bcash, but maybe even more importantly:
IT IS THE VISION OF SATOSHI!!!
What Satoshi described here in 2010 IS the Lightning network!
Conclusion:
Bcash is born to create a payment system with certain features, but after 6 months it was already overtaken by the Lightning Network. Lightning is much faster and cheaper and beside that it is the real Bitcoin and in line with Satoshi’s vision. Also, there are already more Lightning nodes than Bcash nodes online, while Lightning is just in Beta.
Lightning will be way better than cash, streaming of money will be possible and it is fully anonymously. This will not be archived with Bcash anytime soon without destroying the original state of the blockchain. I say it one more time:
BITCOIN LIGHTNING IS THE REAL BITCOIN CASH!!!
Disclaimer
This is no financial advice, just my view on the market. I am also not branding cryptocurrencies here, the market will decide how every asset is called, this is just my opinion. As for now the ticker of Bitcoin is BTC and the ticker of Bcash or Bitcoin Cash is BCH, don't confuse them!
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bcash is boring altcoin
crypto's are future...
When the lightning network is no longer in beta, I'm expecting the bull to really take off along with more main stream media coverage and institutions announcing/investing.
Are you sure, Bcash is not Bitcoin. I am new. I dont know in this case.So, Your post post is helpful for me. I will waiting for your next post. God bless you
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good post.
bitcoin is very powerful...it have the power to change peoples life
I do agree with you, BCH made a lot of promises and did not deliver, now its normal for people to start thinking that they might be trying to "scam" people.
Lightning Network is/was the real change, and are initiatives and developments like this that we need in the crypto world, not promises that are never fulfilled.
This is really great post..I appreciate this post....
You can not stop things like Bitcoin. It will be everywhere and the world will have to readjust itself.
This is a foolish article. It is clearly design to manipulate emotion rather than to offer reasonable arguments or to present the facts about Bitcoin Cash and to truthfully address the real problems that underlies Bitcoin BTC today.
Get educated about how the Lightning Network actually works ...
Bitcoin moved the internet of things through its easy to use the platform and the accessibility of features it offers but its scalability is a big issue. It offers only 7 transactions per second and the transaction time differs according to the demand which does not make this as an optimum alternative to FIAT. Lightning network allows Bitcoin users to create a personal payment channel within the parties involved in the transactions. Through these channels or gateways, payments can be sent or received with minimal or no wait times.
You must be a little bit please that mr Ver is getting sued for the propaganda he is spouting on bitcoin.com deliberately confusing people with bitcoin core and bitcoincash
You're on the @abusereports naughty list! Bad Steemian!