CRYPTOCURRENCIES
How Bitcoin Cash may spell end of Bitcoin
Gravity-defying Bitcoin surged 1,250% in 2017 to a market value of more than $200bn, but rivals are now quicker and cheaper
Digital currency Bitcoin will "die a horrible death" in 2018, killed by its rival sister, Bitcoin Cash, says Lorien Gamaroff, CEO and founder of Centbee, a Bitcoin Cash wallet. "Bitcoin is slow and expensive and its market share is being eroded by cryptocurrencies that are quicker and cheaper," said Gamaroff, who initially intended Centbee to be a Bitcoin wallet before a user-activated fork led to the creation of Bitcoin Cash in July 2017. Bitcoin Cash was closer to Bitcoin’s original mission to be a peer-to-peer electronic cash system, said Roger Ver, an early investor in bitcoin-related start-ups. High fees and slow transaction times would weaken Bitcoin’s adoption and market value, Ver, CEO of Bitcoin.com, said at a recent blockchain summit in Hong Kong. Gravity-defying Bitcoin surged 1,250% in 2017 to a market value of more than $200bn, as speculators poured into the digital currency. "How to buy Bitcoin" was Google’s third-most searched "how to". The widespread publicity that a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.