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Source: coinmetrics.substack.com ·
Bitcoin (BTC) has had many forks over the years, most of which have faded into obscurity. But one fork in particular has separated from the pack: Bitcoin Cash (BCH). In August 2017, BCH forked from BTC with a goal of “fulfilling the original promise of Bitcoin as ‘Peer-to-Peer Electronic Cash.’” Proponents of BCH believed that BTC was increasingly becoming a store of value as opposed to a medium of exchange, the latter of which they saw as the original purpose of BTC. To achieve this, they argued that it was necessary to increase BTC’s block size from 1 MB to 8 MB (and eventually to 32 MB), which would allow for more transactions per block and lower transaction fees (only a limited amount of data can be added to each block -- the smaller the block size the more users are incentivized to pay fees to make sure their transactions are included in a timely manner).

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