It has been a rather interesting period for Bitcoin Cash since its original inception in late 2017. Although it’s still a fork of Bitcoin, it has garnered a lot of support and success in the past few months. Roger Ver remains pretty bullish on this altcoin, claiming that the adoption of BCH is accelerated compared to that of BTC. Only time will tell if this bullish sentiment is warranted.
The Future of Bitcoin Cash
It is evident Roger Ver wants Bitcoin Cash to succeed more than anything else. He has been involved with this project from day one and will do everything possible to see it succeed in one way or another. The BCH community has been growing steadily, and merchants appear more than keen to experiment with this alternative form of Bitcoin.
According to Ver, Bitcoin Cash is the superior version of Bitcoin. This is not a new statement by any means, as the proverbial Bitcoin Jesus makes similar statements virtually every week. It has to be said that BCH has some advantages over Bitcoin’s current network, including faster and cheaper transactions. However, Bitcoin will undergo major changes in the coming months, including the introduction of the Lightning Network, among other things.
To be sure, both currencies can peacefully coexist for the foreseeable future, though their communities may not like one another all that much. According to Ver, the most important infrastructure is currently being built on top of Bitcoin Cash, rather than on Bitcoin. Which features those are exactly remains a bit unclear at this time. Competition can only be considered a good thing, however.
The recent Bitcoin Cash hard fork has introduced a lot of positive changes for this altcoin. Its block size has been increased to 32MB, which will allow for a lot more transactions moving forward. That will only be necessary if enough people actually use BCH as a currency, which is not necessarily the case at this stage. Things are still subject to change in this regard, but few people consider any cryptocurrency to be a payment method right now.
While the comments by Roger Ver do paint an interesting picture, the future of cryptocurrency is anything but set in stone. While there is a lot of competition taking place right now, the majority of people expect Bitcoin to be the successful currency in the long run. It is certainly possible that they will be correct, considering that BTC is the world’s leading cryptocurrency until dethroned. Bitcoin Cash will not replace Bitcoin as the world’s leading currency anytime soon, but there are still plenty of changes to look forward to.
Nonetheless, Bitcoin Cash shows how a new version of Bitcoin can be used to conduct transactions involving goods, services, and payrolls on a global basis. Bitcoin offers the same concept, although it takes a bit longer to complete transactions these days. Whether or not that will remain a problem for Bitcoin in the long run remains to be seen.