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Transaction costs between Bitcoin and Bitcoin Cash

Costs per transaction are one of the hottest or most interesting topics that are given as part of the debate around cryptocurrencies. There are numerous discussions that arise regarding the dispute between Bitcoin and Bitcoin Cash. In that sense, now it seems that the average cost per transaction in Bitcoin is lower than Bitcoin Cash and therefore, conclusions about this situation have not been slow to come forward.

The costs per transaction in Bitcoin in perspective

At the moment in which a direct comparison is made between the costs for the transactions as it is done with Bitcoin and Bitcoin Cash, everything seems to indicate that there is no real competition.

However, it must be accepted that the cost of the transaction with Bitcoin Cash has been far lower than that of Bitcoin. In fact, in the case of BCH they have been relatively flat, while those of BTC are erratic in perspective.

However, if they make temporary captures of this phenomenon, it will soon be identified that the story is different from what has been reported. In a recent tweet from Ven Verret it was shown that the costs per transaction with Bitcoin were lower than those of BCH for a period of six hours. That is, depending on the time when priority is given for the collection of these costs, it is feasible to mention that the use of BTC ends up being more expensive than BCH’s.

From these data it can not be stated that Bitcoin suddenly became a cheaper option to use. If correct time management is used, it can be temporarily in some cases. In addition, users with patience will be able to continue sending their transactions 1 Satoshi by byte. Of course, it will involve too many hours to complete the process, but it is an alternative that can be chosen.

The debate between Bitcoin and Bitcoin Cash continues

As is usually the case when trends like this are put in the spotlight of everyone, the debate soon emerged. In this regard those who support Bitcoin Cash did not take this announcement with kindness but were emphatic in emphasizing that in a longer-term view this option is more economical.

Lightning Network for Bitcoin: Cheaper and faster transactions

The central question that arises in a context like the one described is what will be the impact of the lightning network for Bitcoin and if it will effectively change the conditions in which that network works.

Thanks to the growth of payment channels, it seems logical that this development will happen soon. Beyond the above, this technology is maintained in a beta version and an official has not been released or announced.

In conclusion, developments such as the one mentioned above are interesting and we must be attentive to what may happen to them, however, it is not that they are forgotten as a priority for the sector. Likewise, it should not be overlooked that Bitcoin is still the one with the highest market capitalization value and that Bitcoin Cash continues to be an altcoin, but will these changes be enough to change the situation of who dominates?

Also published on Medium.

Published inCryptocurrencies

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