Techonomy

How Bitcoin Cash exists? Bitcoin Cash is originated from Bitcoin. It's all come from the issue of the scalability of bitcoin. On August 1st 2017, Bitcoin is being split to Bitcoin and Bitcoin Cash. In other words, Bitcoin Cash is essentially a clone of the existing Bitcoin blockchain with stronger feature which is the additional block size capacity. Those who owned Bitcoin before the split now own an equal amount of Bitcoin Cash. It also means that Bitcoin Cash and Bitcoin each now have 16.5 million units in circulation. Why Bitcoin Cash and Bitcoin Splits? This is all goes to the history of how Bitcoin was first introduced back in the 2009, block sizes were unlimited. To buy and sell Bitcoin, wallets required users to keep a record of the entire blockchain. Its was as if one had to download the entire history of Google searches to find something on the internet. This led to an abundance of Denial of Service (DOS) attacks as hackers stuffed block with meaningless transact...

How many Bitcoin are there now? Due 1st June 2017, there are 16,366,275 BTC out of the total 21 million cap. Here comes the questions why is it 21 million cap?  Why 21 million cap? A block introduces 50 new coins into the bitcoin ecosystem. This quantity mined halves every 210,000 blocks. What does mined halves means? For instance, the reward for mining a block was most recently cut in half on July 9th, 2016 from 25 bitcoin to 12.5 bitcoins as reward for solving the Byzantine general's problem. The next halving event occurs every four years with the next one slated for 2020 with a block reward amount of 6.25 bitcoins.  By using the formula of geometric series : Then another questions comes... what will happen when reach 21 millions cap?  We estimate to reach 21 million cap by 2141 year. What happen next? Effects on Bitcoin Miners: Very simple theory, Bitcoin Miners will lost their jobs. Imagine that when the bitcoin is reaching the cap o...