Bitcoin is the Fastest Asset to Reach a $1 trillion Market Cap

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What Is the Total Supply of Bitcoin Cash? As of March 22, 2022, the circulating supply of Bitcoin Cash was 19,015,775 BCH, or 91% of the total supply. Bitcoin’s circulating supply was 18,990,837 BTC, or 90% of the total supply. How Does the Market Capitalization of Bitcoin Cash Compare With Bitcoin’s? As of March 22, 2022, Bitcoin Cash had a market capitalization of $4.48 billion, ranking it No. 24 among cryptocurrencies by this measure, while Bitcoin was the largest cryptocurrency by far, with its market cap of $808.37 billion more than twice that of second-ranked Ethereum at $360.82 billion. At the start of 2021, the cryptocurrency had a more modest market cap of $500 billion, but has gained more than another $500 billion since. In 2022 alone, over $100 billion in remittances were sent to India, supporting many families. BCH implemented an increased block size of 8 MB to accelerate the verification process, with an adjustable level of difficulty to ensure the chain’s survival and transaction verification speed, regardless of the number of miners supporting it. Ongoing debates around Bitcoin’s technology have been concerned with this central problem of scaling and increasing the speed of the transaction verification process. The problem with blockchain technology in the Bitcoin network is that it’s slow, especially compared to banks that deal with credit card transactions.

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In November 2018, for example, the Bitcoin Cash network experienced its own hard fork, resulting in the creation of yet another derivation of Bitcoin called Bitcoin SV. One potential issue with the larger block size associated with BCH is that security could be compromised relative to the Bitcoin network. By Jan. 31, 2022, the block size was 1.39 MB on average. Talk of doubling the size of blocks from 1 MB to 2 MB ramped up in 2017 and 2018. As of February 2019, the average block size of Bitcoin increased to 1.305 MB, surpassing previous records. Popular credit card company Visa Inc. (V), for instance, processes an average of 564 million transactions per day, which is about 6,527 transactions per second. With over 280 million immigrants transferring billions of dollars annually, the remittance industry has become more valuable than ever. With over 280 million immigrants worldwide, the remittance industry has an important place in our global society. The remittance industry has experienced consistent growth recently, solidifying its position as a key component of the global financial landscape.

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In this graphic, sponsored by Scottish Mortgage, we delve into the growth of the remittance industry, and the key factors propelling its success. This is particularly true for low and middle-income countries, who in 2022 received, on average, 79% of remittance payments, according to Knomad, an initiative of the World Bank. 79% of remittance payments in 2022 were made to low and middle-income countries. India is one of the global leaders in receiving remittance payments. Defined as the transfer of money from one country to another, usually to support a dependent, remittances play a pivotal role in providing food, healthcare, and education. 2. The second requires making the blocks of data bigger so that more information can be processed at one time. Bitcoin SV was created in an effort to stay true to the original vision for Bitcoin that Satoshi Nakamoto described in the Bitcoin white paper while making modifications to facilitate scalability and faster transaction speeds. However, downsides also come with the faster transaction verification time.

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Where does this data come from? In July 2017, mining pools and companies representing roughly 80% to 90% of Bitcoin computing power voted to incorporate a technology known as a segregated witness (SegWit). In September 2017, research released by cryptocurrency exchange BitMEX showed that SegWit implementation had helped increase the block size amid a steady adoption rate for the technology. In August 2017, some miners and developers initiated what is known as a hard fork, effectively creating a new currency: BCH. Bitcoin Cash was started by Bitcoin miners and developers equally concerned with the future of the cryptocurrency and its ability to scale effectively. The debate about the future of Bitcoin appears to show no signs of being resolved. Future projections for the price of bitcoin are garnering more extreme and widening price targets. What Are the Features That Make Bitcoin Cash an Effective Medium of Exchange? Multiple Bitcoin ETFs focused were recently approved by Canadian regulators and some have already launched on the Toronto Stock Exchange (TSX). Historically, it’s taken multiple decades for companies to be worth $1 trillion. The accelerated rate of change today has many of the Big Tech companies already inching closer to the next trillion in value.

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