Published on November 13th, 2017 | by bitcoin0
Others gain ground as bitcoin tumbles
Bitcoin cash, a rival that split from the original bitcoin in August, has jumped about 22 percent since Friday, according to data compiled by Coinmarketcap.com.
Bitcoin cash is gaining popularity because of its larger block size, a characteristic that makes transactions cheaper and faster than the original.
Even after shrinking as much as $38 billion since Wednesday, bitcoin boasts a market value of about $105 billion.
Supporters of bitcoin’s technology upgrade “are now switching support to bitcoin cash,” said Mike Kayamori, head of Tokyo-based Quoine, the world’s second most-active bitcoin exchange over the past day.
On the other side is bitcoin cash, which allows its blockchain to handle eight times as much data as the original.