Bitcoin Cash rose to a recent high of $1,777 today, before settling at around $1,660 at the time of writing, up around $160 since yesterday.
While its trading volumes remain considerable at $3.3 billion, with the market cap of Bitcoin Cash now nearing $30 billion, around 25% that of BTC’s market cap.
The rise does not appear to be due to any particular reason, but because of new energy in the bitcoin ecosystem, as that old religion, bitcoin: a peer to peer electronic cash system, seemingly makes a come back.
In the heart of Wall Street, Bitcoin Cash posters all the sudden have poped up as its supporter promote the newest digital currency on earth.
They have been galvanized because now they can use the oldest digital currency as an actual currency once more, with Bitcoin Cash so enjoying almost non-existent fees and virtually instant payments.
So in that old tradition they are repackaging the old bitcoin memes and changing the logo with that of Bitcoin Cash, which unlike the current BTC, does fit more appropriately.
While Roger Ver, who used to proudly wear the title of Bitcoin Jesus, but now might prefer to be known as the Bitcoin Cash Messiah, is leading the congregation by offering 100,000 free stickers and promotional material to the converted.
That tilted B logo, therefore, might be seen more often down the streets, as the young ones go out to preach the gospel of Satoshi Nakamoto and Hayek.
Their baptism is a trick which you can no longer do in bitcoin. To show them just what this new money is, the preachers send a small amount of Bitcoin Cash to their wallets, allowing them to see it all in action.
A wow and some amazement is expected, at which point the new individual is converted, allowing them to enter the church of… OK stop that.
This isn’t a religion, it’s a scientific advancement. Money, the ruler of all things, is being upgraded, to be ruled by us all. No more fictitious worthless paper, but scarce true value, ruled by code.
Some say it’s the future, a claim that is very debatable. But there are some aspects which now really no one denies. If money can be turned into code, as it has been done, then there are so many obvious benefits that it would be difficult to see why on earth it would not so be turned into code.
But whether that code is Bitcoin Cash, or ethereum, or dollarcoins, or poundcoins, or something new that we have not yet seen, is not very clear at this stage.
However, that Bitcoin Cash ignites passion, while BTC does not to the same extent, is becoming somewhat clear. And the main reason is probably because Bitcoin Cash has a vision and an aim to be the people’s money, while btc has become just a hodlcoin.
Or, at least, that’s what some say, because plenty do try and use btc as a currency, despite great barriers in congestion and high fees, while others have moved on to Bitcoin Cash, bringing back that great crypto movement.