Bitcoin vs Bitcoin Cash vs Bitcoin Gold vs Bitcoin Diamond vs Bitcoin Private (English/Turkish)
One of the features that make Bitcoin attractive is the limited number of coins. I remember thinking, "there will be only 21 million Bitcoins in the world, it would be good if I had a few of them." However, it's not the case today. 40 cryptocurrencies in the market start with the name bitcoin. Five of them are among the top 100 by total market value among cryptocurrencies. The screenshot below from https://coinranking.com/ shows the name, price and total market values of these cryptocurrencies.
In the blockchain world, a hard fork is created when developers use the core code as the basis of their projects by changing it. Other projects with names such as Bitcoin Cash, Bitcoin Gold and Bitcoin Diamond are the hard forks of Bitcoin. These cryptocurrencies were created by those who did not accept design decisions in the Bitcoin project. These hard forks of Bitcoin are currencies based on the Bitcoin code, but they are not Bitcoin. (Anyone can argue that hence they are not original, they are better versions of Bitcoin)
There are criticisms that these alt-coins have been issued to take advantage of the popularity of Bitcoin's name. I agree with these criticisms, creating a Bitcoin inflation seem not right for me.
Those who support Bitcoin hard forks argue that these alt-coins are developing Bitcoin. They say that the experience gained in these alt-coins and the new investors who have been pulled into the system support Bitcoin.
Bitcoin Cash (BCH)
Bitcoin Cash is crypto designed for low price transfers and low transaction time. Bitcoin Cash has a larger block size, which means that the network can support more operations. While the median fee for Bitcoin transfers is 0.15 USD, Bitcoin Cash median transfer fee is 0.002 USD. You can access the historical development of median transfer fees via the link below.
https://bitinfocharts.com/comparison/median_transaction_fee-btc-bch-btg.html#3m
Bitcoin Cash, emerging on August 1, 2017, is the fourth most valuable cryptocurrency after Bitcoin, Ethereum, and Ripple as of August 5, 2018.
Bitcoin Cash is now on the market with 21 million coin limit, like Bitcoin. There are still 17,28 million of them in circulation. Official website: https://www.bitcoincash.org/
Bitcoin Gold (BTG)
Bitcoin Gold addresses another problem of Bitcoin: the growing centralization of Bitcoin mining, which has become impossible for the average people. Specialized hardware, known as application-specific integrated circuits (Asics), is required for profitable mining. And mining companies, thanks to their large size, are more potent on the network than necessary.
Bitcoin Gold has made the network more decentralized by allowing the average people with robust graphics processors (GPUs) to mine Bitcoin on their computers.
Released on November 12, 2017, Bitcoin Gold is 29. valuable cryptocurrency today.
Bitcoin Gold is on the market with 21 million coin limit like Bitcoin and Bitcoin Cash. There are still 17,16 million of them in circulation. Official website: https://bitcoingold.org/
Bitcoin Diamond (BCD)
Bitcoin Diamond combines many features, such as larger block size, decentralized mining, to create a better Bitcoin. It also offers more privacy by encrypting the values of each process.
Released on November 24, 2017, Bitcoin Diamond is still 41st the most valuable crypto.
BCD has an upper limit of 210 million coins. The number of 153,76 million is still on the market. Official website: http://www.btcd.io/#/
The following table comparing the bitcoin hard forks can help you see the big picture.
Segwit2x(B2X), which has similar technical features with other bitcoin hard forks. It is 816th in the crypto market. Its name suggests they didn't prefer to take advantage of the magic "Bitcoin" word.
Private Bitcoin (BTCP)
Bitcoin, allows people to view the actions on the blockchain. Bitcoin private focuses on privacy. Payments are posted in a public blockchain, but data such as the sender, receiver, and transaction value are hidden.
It was released on 28 February 2018. Private Bitcoin is 74. most valuable crypto.
Official website: https://btcprivate.org
Conclusion
Bitcoin has created a revolution in finance by eliminating traditional mediators.
It has brought significant advantages, such as;
- Possibility to send money 24/7 anywhere in the world,
- Not subject to inflation like fiat currencies,
- Eliminating the obligation to trust banks,
- Wallet owners do not have to expose their identity,
- International transfers at low rates
Today, some other alt-coins can also provide the advantages of the Bitcoin and its hard forks. Besides, many coins offer additional benefits. Although Bitcoin's brand value is critical, I think that coins with better technical infrastructure will stand out in competition in the long run.
I'm neither a cryptocurrency nor an investment expert. This article should be considered as an amateur investor's attempt to share what he has learned about a group of cryptocurrencies.
Related Articles:
Which Crypto Should I Invest In? Is Bitcoin A Good Choice?
Should We Invest In Ethereum?
Ripple(XRP) Analysis
Thanks for reading.
Image Source: https://pixabay.com and https://giphy.com
Bitcoin'i cazip kılan başlıca özelliklerden biri sayısının sınırlı olması. Kripto para dünyasıyla ilgilenmeye başladığımda "dünyada en çok 21 milyon adet Bitcoin olacak, bunlardan birkaçı benim olsa hiç fena olmaz" diye düşündüğümü hatırlıyorum. Oysa durum hiç de göründüğü gibi değilmiş. Piyasada adı Bitcoin ile başlayan tam 40 kripto para var. Bunlardan 5'i kripto paralar arasında piyasa değeri bakımından ilk 100 içinde yer alıyor. https://coinranking.com/ dan aldığım aşağıdaki ekran görüntüsü bu kripto paraların isim, amblem, fiyat ve toplam piyasa değerlerini gösteriyor.
Blok zinciri dünyasında geliştiriciler mevcut kodu alıp değiştirerek kendi projelerinin temeli olarak kullandıklarında yeni bir versiyon (hard fork) oluşmaktadır. Bitcoin Cash, Bitcoin Gold, Bitcoin Diamond gibi isimlere sahip diğer projeler Bitcoin'in "hard fork"ları durumundadır. Bu kripto paralar Bitcoin projesinde yapılan tasarım kararlarına katılmayan kişiler tarafından yaratıldı. Bitcoin'in bu versiyonları Bitcoin koduna dayanan ama Bitcoin olmayan kripto para birimleridir.
Bu alt cionlerin Bitcoin isminin popüleritesinden yararlanarak kar elde etme adına ortaya konulduğu yönünde eleştiriler bulunuyor. Bu eleştirilere katılmamak elde değil, bir Bitcoin enflasyonu yaratılması bana doğru gelmiyor.
Bitcoinin alt coinlerini destekleyenler ise, bu alt coinlerin Bitcoin'in zayıf yönlerini geliştirdiğini savunuyorlar. Yaratılan bu çeşitliliğin Bitcoin'in kendisine de fayda getirdiğini ifade ediyorlar. Bu alt coinlerde edinilen tecrübelerin ve bu altcoinler sayesinde sisteme çekilen yeni yatırımcıların Bitcoin'i desteklediğini ileri sürüyorlar.
Bitcoin Cash (BCH)
Bitcoin Cash düşük ücret ve hızlı işlem süreleri için tasarlanmış bir köripto paradır. Bitcoin Cash, daha büyük bir blok boyutuna sahiptir, bu da ağın daha fazla işlemi destekleyebileceği anlamına gelir. Şu anda en değerli Bitcoin "hard fork"u durumundadır. Halen Bitcoin transferlerinin medyan ücreti 0,15 USD iken Bitcoin Cash medyan transfer ücreti 0,002 USD düzeyindedir. Medyan transfer ücretlerinin tarihsel gelişimine aşağıdaki link üzerinden erişebilirsiniz.
https://bitinfocharts.com/comparison/median_transaction_fee-btc-bch-btg.html#3m
1 Ağustos 2017'de ortaya çıkan Bitcoin Cash, 5 Ağustos 2018 itibariyle Bitcoin, Ethereum ve Ripple'den sonra dördüncü en değerli kripto para durumundadır.
Bitcoin Cash de Bitcoin gibi 21 milyon adet üst limitle piyasaya çıkmış durumda. Halen bunların 17,28 milyon adedi dolaşımda. Resmi internet sitesi: https://www.bitcoincash.org/
Bitcoin Gold (BTG)
Bitcoin Gold, Bitcoin'in bir diğer sorununu ele alıyor: ortalama insanlar için imkansız hale gelen Bitcoin madenciliğinin artan merkezileşmesi. Uygulamaya özgü entegre devreler (Asıcs) olarak bilinen özel donanım, karlı bir madencilik için gereklidir. Ve madencilik şirketleri, büyük boyutları sayesinde ağ üzerinde gereğinden fazla güçlü olmaktadır.
Bitcoin Gold, güçlü grafik işlemcileri (GPU'lar) olan ortalama insanların Bitcoin'i bilgisayarlarında çıkarmalarına imkan sağlayarak ağı daha merkezi olmayan bir hale getirmiştir.
12 Kasım 2017 tarihinde piyasaya çıkan Bitcoin Gold bugün 29. değerli kripto para konumundadır.
Bitcoin Gold da Bitcoin ve Bitcoin Cash gibi 21 milyon adet üst limitle piyasaya çıkmış durumda. Halen bunların 17,16 milyon adedi dolaşımda. Resmi internet sitesi: https://bitcoingold.org/
Bitcoin Diamond (BCD)
Bitcoin Diamond, daha iyi bir Bitcoin oluşturmak için daha büyük blok büyüklüğü, daha az merkezi mining gibi bir dizi özelliği bir araya getiriyor. Ayrıca her işlemin değerlerini şifreleyerek daha fazla gizlilik vaat ediyor. İnsanlar blockchain'i inceleyerek herhangi bir işlemde kişilerin gönderdiği para miktarını
tespit edemiyorlar.
24 Kasım 2017'de piyasaya çıkan Bitcoin Diamond halen 41. en değerli kripto para konumunda.
BCD üst limiti 210 milyon adet. 153,76 milyon adedi halen piyasada. Resmi internet sitesi: http://www.btcd.io/#/
Bitcoin hard forklarını karşılaştıran aşağıdaki tablo resmi daha derli toplu görmenizi sağlayabilir.
Diğer Bitcoin hard forklarıyla benzer teknik özelliklere sahip olan Segwit2x(B2X) kripto para piyasasında 816. sırada bulunuyor. Bitcoin adının sihrinden yararlanmayı tercih etmedikleri anlaşılıyor.
Bitcoin Private (BTCP)
Bitcoin, bilindiği üzere insanların blockchain üzerindeki işlemleri görüntülemesine izin veriyor. Bitcoin Private ise gizliliğe odaklanıyor. Ödemeler bir halka açık bir blok zincirinde yayınlanıyor, ancak gönderen, alıcı ve işlem miktarı gibi veriler gizlenmiş durumunda oluyor.
28 Şubat 2018 tarihinde piyasaya çıkan Bitcoin Private piyasa değeri bakımından 74. kripto para konumunda.
Resmi internet sitesi: https://btcprivate.org
Sonuç
Bitcoin aracıları ortadan kaldırarak finansta büyük bir devrim yarattı. Sistem;
- Dünyanın her yerine 7 gün 24 saat para gönderme imkanı,
- Geleneksel paralar gibi enflasyona tabi olmama,
- Bankalara güvenme zorunluluğunu ortadan kaldırma,
- Cüzdan sahiplerinin kimliklerini açıklamak zorunda olmamaları,
- Düşük ücretlerle uluslararası transfer
gibi önemli avantajlar getirdi,
Bugün bu avantajları adında Bitcoin geçmeyen kripto paralar da sağlayabiliyor. Bunlara ek olarak ilave avantajlar sağlayan çok sayıda coin var. Bitcoin'in marka değeri önemli olmakla birlikte, uzun vadede teknik altyapısı daha iyi olan coinlerin rekabette öne çıkacağını düşünüyorum.
Okuduğunuz için teşekkür ederim.
All the other are fork stuff.
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#tumutanzi Bitcoin is by all accounts an exceptionally encouraging thought. I like constructing security in light of the suspicion that the CPU intensity of genuine members exceeds that of the assailant. It is an extremely present-day idea that adventures the intensity of the long tail.
Bitcoin Private is scam pump and dump coin.
Bitcoin is by all accounts an exceptionally encouraging thought. I like constructing security in light of the suspicion that the CPU intensity of genuine members exceeds that of the assailant. It is an extremely present-day idea that adventures the intensity of the long tail.
One of the main commercial arguments in favor of bitcoin is undoubtedly low transaction costs and consumer properties. Bitcoin offers lower fees compared to many interbank payment online systems and systems such as Western Union. Simplicity in handling is a key factor for the diffusion of technology. According to one view, the slow spread of bitcoin can lead to the fact that it will lose in the fight against alternative payment solutions, whether it is traditional centralized systems or alternative distributed tokens such as Ethereum.
Although bitcoin is cheaper and perhaps easier to handle than some centralized alternatives, in many cases, centralized alternatives are faster and cheaper than bitcoin. For example, in many countries of Western Europe, retail transfers between banks are free and instant. In China, Alibaba and Tencent offer fast, simple and free payment solutions. Tencent is capable of processing up to 200,000 transactions per second, which is many times greater than that of bitcoin.
Some consider these factors as a risk for bitcoin, others as a battle in which bitcoin was initially doomed to failure. Nevertheless, while fast and free payments are not available to the entire population of the planet, bitcoin can be a viable alternative. But should we start from the fact that suppliers of traditional payment solutions will ever refuse to provide free and fast services?
Another thing that has to be taken in mind is that for Bitcoin or any other crypto to be mass adopted, the use of hardware has to be mass adopted as well. As long there are people without internet, smartphones or even regular phones that can receive sms, fiat will be used. I agree that the next 5 year will be crucial for the development of crypto and the new market it has developed.
Now instead of having "... 164 official national currencies circulating around the world. Although the number of the independent countries is 197 plus about five dozen of dependent territories. The matter is, that some of them don't have their own money and officially use the foreign currency."[https://www.countries-ofthe-world.com/world-currencies.html] now we have to deal with a lot more, that are seen as a way of investment more than a transfer of value; my point here is that many "smart money" is moving from the regulated stock exchanges to the "crypto world" and that transfer of fiat regulated money can also bring a mayhem in the traditional money system.
Just to finish before I get into other topics LOL, BTC is only the tip of the iceberg of financial revolution in which people will want to have the control of their money and assets 24/7.
Well said sir
the fact remains that they are centralized solutions, they are trusted third parties that have the potential to fail and specifically with banks they use your money to create air, fund wars, make themselves richer and eventually create a bigger gap between rich and poor. Banks every now and again fail, so money transfers are often not finite another downside of the traditional system.
So in terms of this, I see the technology that figured out a way to get rid of a trusted party and maintain a ledger in decentralised fashion, as something banks will longterm struggle to compete with unless the goverments worldwide shut it down. Bitcoin isn't fast enough and 3ven if the Lightning Network ends up offering a second layer solution, there will be better crypto assets out in the future either through sharding or other solutions, that offer fast transactions 1 billion tx per sec + and still be decentralised.
Very few people trust banks, hate bankers, yet people still have their eyes closed for the above tech asbit is difficult to understand and smells of Ponzi to many.
I hope one day people understand that the real ponzi or con is our current financial system.
Well said sir
Well said sir
I choose Bitcoin Cash because it has low transaction fees
Bitcoin and all its forks are priced by the market
Correct. Appreciate it
nice post
Bitcoin down again, $6245.
Bitcoin Private seems to be the best if you want to remain private, to some extent. Is it better to try to hide some of the info? I would say, maybe, assuming hackers and governments and others cannot figure out whatever we want to hide from them, to some extent, maybe, and they would be the threat to keeping all of the data of the transactions open, transparent, public,, like Steemit seems to have to some extent it seems.
problem is that you need to fill in kyc info on exchanges so it will never be private in that respect.
Well said sir, appreciate it
Great explain
Hi @muratkbesiroglu Bitcoin is mother currency and I can say that beating bitcoin thru alts is not an easy game. BTC always dominate the market and alt coins are dependent on this. I am not much aware about the technical algorithm about crypto like block and frequency. But I can say that no matter what alt coins do to capture more crypto market but its very very difficult for them to replace BTC. If we talk about bitcoin group coins like cash, gold, diamond and private we can see that only bitcoin cash could grow and others are not much popular even thought they have advanced and different techno benefits.
100% right sir
I believe one of the main reasons Bitcoin crashed is because of a lot of interference of noobs who took it as a money doubling tripling scheme. Bitcoin isn't really made for that.theres a limit to total number of max Bitcoins that can be mined and also to the number of transactions because of our limited computing power.
Will it rise back??
Well I believe yes if not sooner then a bit late but it will coz blockchain is future. The next 4-10 years Bitcoin is going to do miracles
Well said sir.. Maybe it will happen
I remember Bitcoin cash entry after hard fork..people ditched Bitcoin and its value increased more than Etherum and it became second largest crypto for brief amount of time..But my question is no matter what happens, no matter what value ,technological impovement is offerd by hard forks..Bit coin rules ..why is that so when we have better technology with Bitcoin brand name available??
Great thinking sir.