{"id":210527,"date":"2021-03-25T12:35:11","date_gmt":"2021-03-25T09:35:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-cash-hits-new-lows-vs-bitcoin-after-tesla-snubs-fork-products\/"},"modified":"2021-03-25T12:35:11","modified_gmt":"2021-03-25T09:35:11","slug":"bitcoin-cash-hits-new-lows-vs-bitcoin-after-tesla-snubs-fork-products","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-cash-hits-new-lows-vs-bitcoin-after-tesla-snubs-fork-products\/","title":{"rendered":"# Bitcoin Cash hits new lows vs. Bitcoin after Tesla snubs &#8216;fork products&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a412a72aed86\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a412a72aed86\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-cash-hits-new-lows-vs-bitcoin-after-tesla-snubs-fork-products\/#Tesla_Dont_send_us_anything_but_BTC\" >Tesla: Don&#8217;t send us anything but BTC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-cash-hits-new-lows-vs-bitcoin-after-tesla-snubs-fork-products\/#Dotcom_rubbishes_Lightning_Network\" >Dotcom rubbishes Lightning Network<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin Cash hits new lows vs. Bitcoin after Tesla snubs &#8216;fork products&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Controversial Bitcoin (BTC) spin-off Bitcoin Cash (BCH) has hit new all-time lows against its parent after Tesla publicly rejected using it for payments.<\/p>\n<p>In a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets on March 24, CEO and &#8220;Technoking&#8221; Elon Musk confirmed that U.S. customers could now buy a Tesla using BTC \u2014 but his company shunned &#8220;fork products&#8221; such as BCH.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tesla_Dont_send_us_anything_but_BTC\"><\/span>Tesla: Don&#8217;t send us anything but BTC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin Cash spun off from the Bitcoin blockchain in August 2017 and has since remained a controversial entity within cryptocurrency.\u00a0<\/p>\n<p>Proponents claim supremacy over Bitcoin thanks to BCH fees being far lower while transactions also tend to take less time to clear and require fewer resources.<\/p>\n<p>The narrative has taken various forms over the years, with advocacy ranging from passive to belligerent as BCH\/BTC continues to plug new lows. On Wednesday, BCH holders received less than 1% of a Bitcoin \u2014 0.089 BTC \u2014 per 1 BCH for the first time.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/75488d50-830a-405a-96d1-a5fdcc72f2fc.png\"><figcaption style=\"text-align: center;\"><em>BCH\/BTC 1-week candle chart. Source: Tradingview<\/em><\/figcaption><\/figure>\n<p>Tesla&#8217;s Bitcoin acceptance move <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared to drive the downturn. Support documentation originally singled out BCH and fellow Bitcoin Cash hard fork Bitcoin SV (BSV) as being unsuitable for payment.<\/p>\n<p>&#8220;You may not make purchases with us using any other digital asset, including Bitcoin fork products, such as Bitcoin Cash and Bitcoin SV,&#8221; the company stated. <\/p>\n<blockquote><p>&#8220;Our Bitcoin digital wallet is not configured to detect or receive digital assets other than Bitcoin.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Dotcom_rubbishes_Lightning_Network\"><\/span>Dotcom rubbishes Lightning Network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The phrasing jarred with BCH holders, who frequently tout the altcoin as being the &#8220;real&#8221; Bitcoin. Among them was entrepreneur Kim Dotcom, who took Musk to task about the snub.<\/p>\n<p>&#8220;Try and buy a Soda with Bitcoin,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KimDotcom\/status\/1374790636637884417\">tweeted<\/a> indignantly.<\/p>\n<p>Tesla had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tesla.com\/support\/bitcoin\">already removed<\/a> the content, simply warning buyers not to send any other cryptocurrency to a BTC address other than Bitcoin itself. This was not enough to extinguish the heated debate, however, as rival supporters sparred over what is a perennial source of anguish.<\/p>\n<p>&#8220;Satoshi didn&#8217;t envision Bitcoin as a new class of bank controlled by the same corrupt power structures as our current financial system,&#8221; Dotcom continued. <\/p>\n<blockquote><p>&#8220;Custodial solutions like Lightning are not changing our broken system. Users must control the keys to their digital money, not third parties.&#8221;<\/p><\/blockquote>\n<p>Musk responded with characteristic nonchalance, saying Dotcom had a &#8220;fair point&#8221; regarding transaction fees while also taking note of a proposal to accept Dogecoin (DOGE).<\/p>\n<p>Bitcoiners argue that BCH is all but worthless versus Bitcoin despite its lower fees. This is due to the latter surviving multiple tests of its blockchain while still maintaining an unblemished 12-year history of Proof-of-Work.<\/p>\n<p>BCH, by contrast, has yet to do the same, and with its hash rate steadily falling against BTC, its cheap usage costs increasingly come at the expense of both security and usefulness as a store-of-value.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-03\/aee76fb3-7bab-4ec3-be91-5a5787922f66.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin, Bitcoin Cash and Bitcoin SV PoW comparison. Source: Coin Dance<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, so-called &#8220;Layer 2&#8221; solutions such as the Lightning Network, while criticized by Dotcom, are designed to move the majority of BTC transactions off-chain, reducing fees and transaction times to near zero.<\/p>\n<p>BCH meanwhile faces other problems, its declining price pushing it out of the top ten cryptocurrencies by market cap this year.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-cash-hits-new-lows-vs-bitcoin-after-tesla-snubs-fork-products\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin Cash hits new lows vs. Bitcoin after Tesla snubs &#8216;fork products&#8217; &#8221; Controversial Bitcoin (BTC) spin-off Bitcoin Cash (BCH) has hit new all-time lows against its parent after Tesla publicly rejected using it for payments. In a series of tweets on March 24, CEO and &#8220;Technoking&#8221; Elon Musk confirmed that U.S. customers could&#8230;<\/p>\n","protected":false},"author":1,"featured_media":210528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDMvZDBkNzBjNzQtODdiMi00YTQzLThmNjItMTE1Nzg2YjkzZDAzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,75163,74937,86908,39394,73785,36402],"class_list":["post-210527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-cash","tag-bitcoin-price","tag-kim-dotcom","tag-elon-musk","tag-markets","tag-tesla"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/210527","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=210527"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/210527\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/210528"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=210527"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=210527"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=210527"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}