On Tuesday, the Bitcoin blockchain was split, spawning a new asset: Bitcoin Cash. This move aims to improve the cryptocurrency's network capacity and transaction efficiency. However, some are worried it could hurt Bitcoin's long-term chances.
Vinny Lingham, CEO of Civic, had this to say:
"My biggest concern with bitcoin being split at this point is just the brand dilution of bitcoin," Lingham said.
Bitcoin's brand has contributed to its relatively high stability as a cryptocurrency thus far, according to Lingham. "You always had the situation where you knew which bitcoin you wanted," he said.
"But having a fork at this point, you have two bitcoins."
And this situation could be confusing for consumers, he said, which might threaten efforts to expand adoption and usage of bitcoin.
Read more here: https://www.theverge.com/2017/8/1/16...-fork-coinbase