The initiative was headed by a small group of mostly China-based bitcoin miners — programmers who essentially operate the bitcoin network — who were not happy with scheduled improvements to the currency's technology meant to increase its capacity to process transactions. "It's been a slow start for Bitcoin Cash," said Iqbal Gandham, managing director at trading platform eToro. Bitcoin Cash on Tuesday traded on certain exchanges at a median price of $146.37, according to bitinfocharts.com, while bitcoin was at $2,729 on the BitStamp platform, down 4.6 per cent from Monday. Ryan Taylor, chief executive of Dash Core, a firm that manages the development of the Dash digital currency, said Bitcoin Cash may yet be short-lived. "Bitcoin Cash has not solved scaling," he said.

Source: CBC News August 02, 2017 11:37 UTC