The battle for supremacy among Bitcoin and Bitcoin Cash is still in full effect. It appears the latter currency is gaining significant traction in Venezuela.
A small battle has been won, yet dethroning Bitcoin will remain a monumental task.
Venezuela Warms up to Bitcoin Cash
It has been somewhat quiet on the Bitcoin Cash front as of late. The initial excitement surrounding this Bitcoin fork has calmed down significantly.
It is not more or less profitable to mine BCH over BTC at this time, which contributes to the existing status quo.
There are other aspects where either currency can make a lasting impact, however.
Venezuela, one of the many South American countries struggling financially, appears to be warming up to Bitcoin Cash as of late.
This shift occurs despite there being plenty of Bitcoin enthusiasts in the region as well.
When it comes to the locations where one can spend BCH or BTC, Bitcoin Cash has clearly taken over. It is accepted at hundreds of locations throughout the struggling region.
Bitcoin acceptance, while still more than acceptable, seems to be falling behind in Venezuela as of late.
No new initiatives appear to be on the agenda to turn this situation around.
The main contributor to this success is the EatBCH project. It allows Bitcoin Cash community members to send donations, which are then used to buy food for the Venezuelan population.
To date, this venture alone has raised over $1m to make a difference in people’s lives.
This further shows the forked version of Bitcoin is on the right track to keep making an impact in Venezuela.