Bitcoin Cash (BCH) is a hard fork of Bitcoin, which occurred in August 2017. The debate of which of them that is better lives on and Bitcoin Cash is both faster, and the transactions are cheaper than Bitcoin. Some are more positive to Bitcoin Cash. The CEO of the cryptocurrency investment company BKCM LLC and an outspoken advocate of digital currencies, Brian Kelly, expressed a bullish sentiment on Bitcoin Cash (BCH). A few months ago, he said that Bitcoin Cash must be owned.
Everything about Bitcoin Cash is not positive though, and there has been negative news around Bitcoin Cash. A few weeks ago, the hacker group BitPico accused Bitcoin cash of centralization by having 49% of all their nodes in one place.
The most recent news is that the Bitcoin Cash lead creator and developer, Amaury Sechet, has been expelled from the cryptocurrency’s slack community after suggesting to reduce the transaction time using “pre-consensus” framework. Bitcoin promotor, Roger Ver, broke the news on Reddit two days ago and the statement has attracted more than 800 comments.
Sechet is known to be very vocal on different forums and especially about his preferences for a “pre-consensus” solution. This solution would function as an organized settlement with block miners to reduce the speed of the block produced. The idea was opposed by many, not least Craig Wright who said the following on Twitter:
“No Hash goes to this crap. They want it, they fork it, without us. Without the apps using our code, our IP, etc. Without the companies we have invested in”.
The argument becomes heated on August 7th which eventually lead to the ban of Amaury. The reason was ‘bad behavior’ and disturbance according to BCH strategist Joel Dalais. There are two camps, that being said, some users have raged and proclaimed that slack never had the intention of unrestricted speech which was one of the reasons Bitcoin Cash was forked from Bitcoin in the first place. Other says that the expulsion was in order, that there are limits to free speech. On, the Reddit thread stated above; people say that Sechet often attacked other members on the Slack community. These claims have not been sustained yet.
The news did not make the last week sentiment regarding Bitcoin Cash and the cryptocurrency community better. The market has been falling since the news about the delays of ETF applications. Even though the sentiment is sour, the story about ICE that came out a few days ago has been overlooked. The last months of the year could be a turning point for Bitcoin Cash and the market.
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Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.