As of lately, Bitcoin Cash, which is reportedly categorized as “alternative cryptocurrency” (currently outpacing Bitcoin in growth), has been gaining a lot of traction in terms of its practical relevance in society. I became interested in cryptocurrency as of late 2017 and began investing some extra money in it as a science experiment. I began investing right before the massive surge happened, where Bitcoin more than doubled and Lite Coin more than quadrupled. I made several hundred dollars but quickly sold at the beginning of the 2018 Winter Bit-pocalypse. Things are looking up nor for cryptocurrencies, but this can only maintain momentum if these coins begin having more of a practical usage, soon.
This technology is meant to help stabilize the currency, which may appear as a failed intention as it is quite volatile most of the time, however, some country’s have currency rapidly decline at a rate similar to crypto at its lowest point, if not worse.
BitCoin Cash (BCH), a notably controversial type of coin to many, as Bit Coin’s original investor, Roger Ver, helped create this coin in hopes of stabilizing BitCoin block chain, as there is a limit to the growth of Bitcoin. I presume BCH to be a modernized version of BitCoin, even though critics have accused Roger Ver of attempting to conflate BitCoin Cash with BitCoin in hopes of luring green crypto consumers into investing in his alternative coin instead of BitCoin; this is likely due to the very similar name.
Nonetheless, reports have stated that BitCoin Cash is now available as a form of payment in selected restaurants in metropolitan cities in North America, including New York, Atlanta, and Toronto. This is fulfilling the practical component of cryptocurrency’s initial draw to the public, which is why BCH has nearly doubled in value in just a few weeks.
What is the future of cryptocurrency? Many are (understandably) skeptical about investing such a new wave of potential currency for its invisible, internet-like, qualities but if it does carry out as its backers intend, it has strong potential to greatly quicken the purchasing speed of transactions, along with giving the public more direct control of who exactly determines what trade value is quintessential, which could greatly aid in alleviating corruption relative to conventional currency. I have now made over 4 digits in profit from cryptocurrency thanks to the recent rise in popularity of BitCoin Cash, and have enjoyed this new, modern way of investing in (potentially) futuristic technology while studying market trends and patterns.