its going to be worthless. Basically, Bitcoin Cash is just another modified cryptocurrency. . Secondly, its getting attention due to the fact that the big fork was timed to coincide with bitcoin s core activating a significant change in its code called BIP 148, which was a highly publicised event in itself. Its price has taken off this year as mainstream investors have become more interested. Cnnmoney (Hong Kong) First published December 7, 2017: 12:20. Payments in bitcoin can be made without traditional middlemen such as banks and without the need to give your name. There are tax implications and a federal judge recently ruled that Coinbase must surrender records to the IRS on transactions of 20,000 or more. Legal and regulatory hazards aside, as both an investment and currency, bitcoin is very risky. 2017 has become the year bitcoin went big. For instance, bitcoin was the sole currency accepted on Silk Road, the Dark Web marketplace for drugs and other illicit goods and services that was shuttered by the FBI in 2013.
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New York's Nasdaq plans to launch its own bitcoin futures in 2018. Going forward The general agreement in the cryptocurrency forums and community is that the majority of people are just going to sell bitcoin cash as quickly as they get the chance to, which, if happens, will further drive down its price. No bills to print or coins to mint. Arthur Hayes, CEO of Hong Kong bitcoin exchange Bitmex, predicts prices could hit a mind-boggling 50,000 by the end of next year, driven by the flow of money when institutional investors "pull the trigger" on investing in the digital currency. Instead, they are "mined" by computers using complex algorithms. So how does the virtual digital currency work - and what's behind its spectacular rise?
More than a thousand, with more sprouting up every day. It is getting a lot of attention right now mostly for a couple of reasons: First, it was developed as a result of forking bitcoin core, and not produced from scratch. Just take a look at Ethereum Classic, a hard fork of Ethereum.