question: I'm trying to figure out the difference between BTC and BCH
answer: This is an easy one to confuse especially if you are new to cryptocurrency. You have probably heard of Bitcoin at least but what is Bitcoin Cash?
Bitcoin Cash is a fork of Bitcoin.
So that leads to the next question
question: what is a fork?
answer: in the programming sense, a fork is when you take a copy of the current code or project and make a clone of it. Both projects now run individually on their own and programmers then work on those new projects. Both projects at least share the same history.
Back to BTC vs BCH. Bitcoin Cash was created on August 1st, 2017 as a fork of Bitcoin. So both projects share the same history up until this date but after, they became different projects where upgrades were made to Bitcoin and the original (or leftover version) was continued.
History of Bitcoin Forks
There are 3 forks of Bitcoin to date:
- Bitcoin Cash: Fork as of block 478558 on August 1st, 2017.
- Bitcoin Gold: Fork as of block 491407 on October 24th, 2017.
- Bitcoin Private: Fork as of block 511346 on February 28th, 2018.
An owner of 1 Bitcoin would also have 1 coin of Bitcoin Cash, Bitcoin Gold and Bitcoin Private as of the dates the forks happened.
Confusion & controversy surrounding Bitcoin vs Bitcoin Cash
bitcoin.com is owned by Roger Ver and there are a lot of people that are part of the Bitcoin Cash crew that are claiming that BCH is Bitcoin and they are also calling Bitcoin with another name of Bitcoin Core. Most exchanges and wallets don't mix these up and simply call each:
- Bitcoin, BTC
- Bitcoin Cash, BCH (or some exchanges use BCC)
Dangers of mixing addresses between Bitcoin and Bitcoin Cash
There have been numerous people that have been sending Bitcoin to Bitcoin Cash addresses and vice versa. They almost look the same and if you send money to an unknown address, it is either going to end up with some lucky recipient or it is just going to be stuck in limbo. If you have been unfortunate enough to have this happen to you, there isn't much you can do but depends on what wallet you used. If you need help join our group and ask in our forums for help.