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How people have reacted to the split of Bitcoin

Ever since Bitcoin split into two, there have been some mixed reactions from different sections of the financial world. Bitcoin (BTC) split into two after disagreements on issues relating to network scalability. This split has also seen a new cryptocurrency coming into light in the form of Bitcoin Cash (BCC). Even though there was a split in Bitcoin and introduction of a new cryptocurrency, the bitcoin price has remained attractive to investors and speculators. Many people have reacted differently to this split with some promising that they will never support the new currency (BCC) and others intending to list the currency.

Although some bitcoin news sites had suggested that Bitcoin was forking, this was denied by developers within the Bitcoin community who suggested that fractions of the network simply established a new cryptocurrency and formulated effective methods of distributing the currency. But Bitcoin has since split into two, and this is mainly because of a longstanding disagreement on how to increase the capacity of the cryptocurrency to the market. The future of Bitcoin still remains intact according to most speculators. This is because many people think BCC has very slim chances of succeeding since it has not been accepted widely and people have shown early signs of not adopting it.

Despite increasing its capacity, BCC has not given solutions on scaling. Bitcoin (BTC) will continue to succeed because the split saw it retain an integrated service network, which is very useful to consumers and businesses. Bitcoin Cash does not also have enough enhancements as compared with Bitcoin. This factor simply means that the new cryptocurrency may not be integrated into the Bitcoin network services. Many people have also viewed the engineering of BCC leaning towards centralization. Bitcoin has always been strong because it is a decentralized cryptocurrency and if BCC is centralized, then it will definitely lose its purchasing power.

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