Question 1

What is the current Bitcoin Cash (BCH) price?

Accepted Answer

At the moment, the price of a single Bitcoin Cash(BCH) is A$ 416.97.

Question 2

Can you explain what Bitcoin Cash (BCH) is?

Accepted Answer

Bitcoin Cash (BCH) is a digital currency that was born out of a hard fork from Bitcoin in 2017. Its primary difference from Bitcoin lies in its protocol upgrade aimed at fixing on-chain capacity. Unlike Bitcoin, Bitcoin Cash does not use Segregated Witness (SegWit) as a soft fork. Instead, it mainly relies on hard forks for upgrades while maintaining the original economic rules of Bitcoin. Bitcoin Cash aims to restore the inherent qualities of money present in the original Bitcoin software. Over the years, these features were gradually omitted from Bitcoin Core, resulting in high transaction fees and slow transfer times. The upgrade to Bitcoin Cash addresses these issues by increasing the block size limit from 1MB (as in Bitcoin Core) to 8MB, enabling quicker, more affordable transactions, providing a better user experience overall.

Question 3

Who created Bitcoin Cash?

Accepted Answer

Bitcoin Cash emerged out of the community of Bitcoin developers and miners on August 1, 2017. It was their response to the perceived drawbacks of Bitcoin, especially regarding the problem of scalability. They carried out a hard fork, which resulted in a new version of the original Bitcoin Core software — now known as Bitcoin Cash.

Question 4

How does Bitcoin Cash work?

Accepted Answer

Bitcoin Cash works in a similar manner as Bitcoin, with one key difference - its block size. Bitcoin Cash increased this block size from 1MB to 8MB. Larger block size means more transactions can be processed at one time, leading to faster and cheaper transactions overall. The larger block size is one of the main characteristics that distinguish Bitcoin Cash from Bitcoin.

Question 5

What happened to Bitcoin Cash on Nov 16th, 2018?

Accepted Answer

On November 16th, 2018, a disagreement within the Bitcoin Cash community, often referred to as a \"hashwar\", led to a split between Bitcoin SV and Bitcoin ABC. Both factions have different views on the future direction of Bitcoin Cash, and the contention led to the creation of two separate chains.

Question 6

What Makes Bitcoin Cash Unique?

Accepted Answer

Bitcoin Cash is unique in large part because of its enlarged block size. This larger block size allows for more transactions to be processed per second than Bitcoin can handle. This upgrade was a direct response to the increasing scalability problem in Bitcoin, leading to cheaper and faster transactions on the Bitcoin Cash network.

Question 7

How Much Bitcoin Cash Is in Circulation?

Accepted Answer

At this time, there are about 20.1M Bitcoin Cash coins in circulation.

Question 8

What is the market capitalization of Bitcoin Cash?

Accepted Answer

The market capitalization of Bitcoin Cash, as of now, is A$ 8.4B. This ranks it at #23 in terms of total market cap among all cryptocurrencies.

Question 9

Where Can You Buy Bitcoin Cash (BCH)?

Accepted Answer

Bitcoin Cash (BCH) can be purchased on several cryptocurrency exchanges. Some of the exchanges where it's available include LBank, Coinbase Pro, KuCoin, Kraken, Binance US. Please do your due diligence before making any transactions.

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