Nice post for discussion @haejin
The newly created Bitcoin Cash (BCH) is a rushed spinoff of Bitcoin (BTC), a clonecoin of which there have been many in Bitcoin’s past. Because the name is confusing, many have taken to calling it “Bcash” to avoid buyer confusion.
There have been myriad clonecoins of various types since Bitcoin’s inception. Bitcoin Cash is a style of clone that copies Bitcoin’s codebase along with its blockchain up until a certain point. Normally when new alternative cryptocurrencies are created, developers just clone the code and not the blockchain. But Bitcoin Cash copied Bitcoin’s blockchain as well, which created a situation in which everyone that had one bitcoin suddenly also had one bitcoin cash.
The creation of Bitcoin Cash was an orchestrated scheme, rushed to the point of engendering significant safety risks. Digital currencies just don’t spontaneously appear out of nowhere. The Bitcoin Cash fork was created by a developer that wanted to increase block sizes, with the hypothetical result being more transactions being processed on the blockchain.
