I found one interesting article about BCH from Jörg MoltLet’s talk about Roger Ver and BitMain with BCash – BCHBitMain, as the biggest miner, was shaken in the confusion around SegWit from the so-called Asicboost scandal.
What’s it about? The AsicBoost
By overclocking some devices, Asic has managed to get 20 percent more power. This only maked sense, as long as SegWit was not activated.
SegWit is able to double the transactions in a block, by removing the signatures, which are not necessary for proof of work.
A miner however, lives from having the most power in the so-called hash process, and tries to gain advantages in the issuing of BitCoins. This is a random principle in the guessing process, so the probability of generating more results, with more guesswork, is obvious.
However, this 20 percent advantage will be neutralized by SegWit, since the upcoming Lightning network, which requires SegWit (because it only transports the signatures and no transactions), is unnecessary. Lightning can process up to 1 million transactions per second, on a signature basis.
So, if people are going through the Lightning network, because it only costs 20ct, they will have less transaction fees on their network, and the miner who finds the block, will get a total of 12.5 BTC. Thus, the cost is not covered.
These miners, with 20% more power, cost of course much more.
The scandal occurred because a newspaper revealed that these miners were only working with a certain group of people and were denied to the general public. Which led to a further imbalance in the network.
Due to the fact that Bitmain investors and major investors were disappointed, and threatened to leave Bitmain, there was only one option.
You make a new coin and bring it out with a token sale.
Roger Ver felt very fortunate to be able to revive the old BCU philosophy. And with the largest pool behind him, it was easy to get the majority for a HardFork.
The result we saw then in the formation of BCH. Now you need some trumpet politics to bring a coin out that is worthless, to a certain status.
So the true BitCoin was without SegWit and with original 8MB blocks. Roger Ver then moved his coins onto an exchange, which also fueled the illusion that he could turn his BitCoins into BCash.
What came next was another dilettante masterpiece. They forgot to set the Difficulty and so BCH had a block time of 10 hours at the beginning and it took a very long time to get it fixed. Investors lost a lot of value and BCH shot down in value.
Today what´s left is a stubborn community and development team. However, 55 percent of the hash power is in one group and they hold central control of the network.
Also, BCH can not be used as a means of payment – ergo a Blockchain with 8MB blocks in a central hand with no external effect. Pathetic for something which calls itsel the „true BitCoin“.
Luckily, it does not change the attitude of Roger Ver in favour of BitCoin or BCash, Fintec and old Moneysystems, and so in reality, he´s working on the dream of a free crypto society.
After the wildest rumours of hashing power and dumping on low transaction fees circulated on the internet, and the propaganda on Roger’s BitCoin.com blog, BCash currently has an overrated price bubble that can burst at anytime.
AltCoins and the futureYou can see with the two coins SegWit2x and BCash, that AltCoins and FakeCoins only have a limited life span, as long as you keep the story going. But sooner or later, the story is no longer enough and investors start looking for something else, a new blockchain and a new coin that they can push. Ultimately, all the hype is for people to trade with Altcoins to buy more BitCoins, or making people pay for Fake Coins with BTC, so enabling the Fake Coin issuers to get their hands on more Bitcoin.
The price increase from January 2016 to the end of 2017 has caused enormous greed and an increase in scam companies.
Full article:https://joerg-molt.de/news/the-truth-about-bch-scams-bch-transaction-costs-utxo/ Agree, the force behind the price sky rocket is mostly from greed, making the quick money, where as the blockchain technology is still in its infancy stage
