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Definition: Bitcoin Cash


In 2017, Bitcoin spawned a new cryptocurrency that would support much higher transaction volume than Bitcoin. The Bitcoin Cash block size is 8MB compared with Bitcoin's 1MB. On August 1, 2017, bitcoin holders received one unit of Bitcoin Cash (BCC or BCH) for every bitcoin they owned, and BCC rose to nearly USD $700 the next day. Within two weeks, it dropped to $300, but then more than quadrupled later in the year. By the end of 2018, Bitcoin Cash was around $200.

The Original Bitcoin Was Also Improved
Only a week after Bitcoin Cash debuted, a consortium of Bitcoin miners approved the Segregated Witness upgrade that made the original Bitcoin more efficient (see SegWit). Needless to say, both Bitcoin and Bitcoin Cash have had wild rides. See Bitcoin Gold, Bitcoin mining and Bitcoin.