A real disaster. This is how we could describe the effects of halving on Bitcoin Cash. After reducing mining rewards in the cryptocurrency, miners rushed out of their blockchain.
Nevertheless, Roger Ver, the main proponent of BCH, would remain optimistic about the crypto asset. Explain that it is firmer than Bitcoin in the Tweet from today:
Roger Ver: Bitcoin Cash stronger than Bitcoin
Since the birth of the cryptocurrency as part of the Bitcoin blockchain, the BCH community has consistently questioned the legitimacy of Bitcoin.
They have even declared themselves legitimate successors to Satoshi Nakamoto’s legacy. And they have condemned Bitcoin for its speculative component and its resistance to changes in its users.
Even so, Bitcoin Cash has lagged behind BTC in the cryptocurrency race. The price is closely related to the trends in the Bitcoin market. Therefore, its profitability and ability to attract new users depend on its mother cryptocurrency.
This would be precisely the reason why after the bitcoin cash blockchain was halved, the decline in the emission rate of the money supply did not lead to a price increase.
This triggered a massive outflow of miners from their blockchain and reached the point where even Roger Ver and Bitcoin.com shut down their mining machines. This does not prevent Roger from continuing to defend BCH through his Twitter account.
Bitcoin– Increase value primarily due to the perception that others will buy it.
Bitcoin cash: Increase your value primarily by increasing the benefits of commercial introduction and general use.
With this message, Roger Ver wants to imply that BCH is stronger than BTC. While the leading cryptocurrency relies on speculation to add value, Bitcoin Cash increases its own due to its usefulness in the real world.
An idea that seems to be questioned after Halving in her blockchain and the terrible impact it has had.
Do you think Bitcoin Cash, like Roger Ver, is more solid than Bitcoin? Let it know in the comment box.