Re:Bitcoin Cash Soaring to Record High as It’s More Profitab...
by reefoctopus on Sunday August 20, 2017 @04:17PM
(#15060066)
Bitcoin cash has an adjustable block size up to 8MB. Segwit2X is the upcoming fork with 2MB blocks on legacy bitcoin.
The reason they did the fork was so that the fees that were making small (cash like, e.g. buy a coffee, $10 Steam gift card, etc...) transactions impossible, are now cost efficient because there's less bidding wars from people on the network rushing into get their transaction confirmed ASAP.
Super interesting to see how it unfolds, but it appears that there's no network congestion and that the network was getting spammed prior to this fork in a means of "See. See! We need bigger blocks. That's it, we're forking. I'm sick of this."
It can get a little "tin-foil-y" but there's theories all over the place, and a lot of them have sound reasoning, but the tl;dr is /The network forked /Bitcoin = 1MB blocks /Bitcoin Cash = 2MB blocks /Where things go from here is a roll of the dice ;)
Thanks!