I am amazed that bitcoin cash had reach almost $700 it is not a month old yet but it does not mean that it could beat bitcoin. Bitcoin cash still has a potential to reach above $1000 before the month ends. If bitcoin cash was not made because of fork then it will be lower than ethereum. Just my opinion, no hate guys.
So what does it change?
Some people are fervently claiming that Bitcoin Cash is no more than an altcoin, one among many others. If it were so, why its price, as you yourself say, is higher than Ethereum? The only viable and plausible explanation is that folks do see Bitcoin Cash as another Bitcoin (sort of) rather than yet another altcoin. And if we are to remain honest, this is what it is (another Bitcoin) even if simply because miners that are mining BCash are the same miners that are mining the regular Bitcoin, and the total hash power is divided between these two Bitcoins
I think that basically the price of Bitcoin Cash is what it is because everybody who had bitcoin got the same amount Bitcoin Cash after the fork.
We have seen in the Ether fork that this situation can be used to make money, and many people used their experience from that time.
But to me Bitcoin Cash has some real value: It can empty mempools.That is where bitcoin has its biggest disadvantage, the long transaction times, the high fees because of a full mempool.
Although most blocks of Bitcoin Cash are nearly empty, Bitcoin Cash has proven to be able to handle a massive upcoming of transactions with one single block.
And this capability we need in bitcoin as well.
Which mempool do you refer to?
If you mean the mempool of the original Bitcoin, then I can't really see how Bitcoin Cash can help empty it. For that to happen, folks should massively start using BCash, but that would most certainly mean abandoning the regular Bitcoin. I guess you can't have it both ways at the same time. If anything, it seems rather a strange approach to helping Bitcoin by effectively destroying it. But maybe you meant something else and I'm missing your point
I ment the mempool of Bitcoin Cash. There was a large number of transactions on August 16th made with BCH.
Over 120 thousand. All processed within five blocksBut this is not a big deal, anyway
The regular Bitcoin processes as many as 250 thousand transactions daily, so 120 thousand transactions would be processed by the regular Bitcoin network as easily. Yes, Bitcoin's mempool may be a problem when the network is flooded with spam transactions, but is the mempool of Bitcoin Cash somehow invulnerable to this plague? Right now, there is even no need to spam the network, taking away the hashpower has the same effect with fewer blocks found. And it is equally applicable to both Bitcoin and Bitcoin Cash (if we assume the same number of transactions are going into each network, of course)
The blocks in BTC are full, filled with about 2000 transactions each block.
The one full block on the BTH chain had 37K transactions. That means the BTH blocks can store in a little more than an hour what BTC blocks needs nearly a day for.
Whether the BCH pool is invulnerable or not, only time will show. But it clearly has a better chances to do so.
Taking away hashpower is another cause that leads to the same problem, but I think it needs to be dealt with separately.
