Bitcoin cash’s volatile trading launch

Bitcoin cash (BCH) prices swung wildly in the first full day of trading, ranging between $700 and $1, 300 per coin across a cluster of crypto currency exchanges.

The original Bitcoin currency (BTC) was launched as a open-source software in 2009 by anonymous architects who wanted to capitalise on the world’s first decentralised peer-to-peer electronic cash, which is independent of any central authority. Bitcoin’s value was established at the outset with its lifetime limited supply of 21m coins.

Bitcoin took a battering in recent months as its built-in limitations impending its ability to settle cheaply and swiftly, leading to a dispute whether it is better to expand capacity at the cost of profitability or maintain profitability at the cost of centralisation and universal access. BTC owners have received an equivalent amount of BCH.

BTC was trading steady at $2, 720 per bit coin which means only the fittest system can survive for long.

Bitcoin cash brings sound money to the world, merchants and users are empowered with reliable confirmation and low fees.

Bitcoin Cash intends to activate new rules that are odds with the bitcoin network, aiming to boost transaction capacity by increasing the block size to 8MB and removing segregated witness a long-debated code optimization that’s likely to activate on bitcoin. Success of Bitcoin Cash hinges on the amount of support it gets from users, businesses and miners.