Topic: Bitcoin cash a threat for bitcoin (Read 1492 times)

I can't find that bitcoin cash is a threat for bitcoin. I consider BCC as a virus attacking BTC  in order to broke its complexity but they could not succeed. Bitcoin is most trusted by the community, and they only invest it aside from other altcoins.

Nope, bitcoin cash will never become a threat for bitcoin but if bitcoin keep make their transaction slow, so long confirmed transaction and big fee like nowdays, it will make bitcoin user will leave bitcoin and start using other altcoin that have many good benefits than bitcoin like bitcoin cash. I hope it never happen though,

I will never counted out bitcoin cash at this point, it currently sits at #3 position and lots of things going to happen in the future. We'll never know!

I don't think that Bitcoin Cash is currently a threat for Bitcoin. It's not stable at all, has many price fluctuations during the week, it's a copy-cat of Bitcoin but still, an altcoin.

Although, if the situation with the transaction fees doesn't return to normal soon, then we might have a problem.

I do not think that it represents any threat to the BTC. Absolutely, you are right.

I think if you are going to use the Ethereum and Ethereum Classic example, then you would have to say that BTC is like Ethereum Classic and Bitcoin Cash is like Ethereum, not the other way around.

Ethereum Classic was the one that held on to the original blockchain, that is why it is called 'classic'. Ethereum is the one that worked on the 'improved' blockchain. (Improved in this case was cleaning up the blockchain to remove records of a big theft having taken place)

In that case, the original (ETC) sort of got left behind and the newer one, which managed to keep the name Ethereum, took off.

BTC is the one that is hanging on to the old code. BCH is the one that made some changes on it.

Yes, I think BCH (Bitcoin Cash) is a threat to BTC (Bitcoin) because they share the same resources: miners.

BCH is merely a fork of BTC. Forking open source projects is normal in programming. Some people here say, it just split because of a cash grab. I do not think that's right. It was made because the people behind it just had a different opinion as to how BTC should solve its long standing issues of congestion. The only problem was the BTC community was deadlocked for two or so years unable to move forward. So they just forked/duplicated bitcoin and made the limit change from 1MB to 8MB. This, they thought, was the best option to handle congestion. The rest (those left behind doing BTC) can continue working with their own ideas like Segwit, Segwit2x and/or Lightning Network with the old BTC.  

As a user myself, I find it ridiculous that you have to pay such high fees and wait so long just to get your transaction approved. For a wannabe currency, Bitcoin is definitely not doing a good job at that. Wasn't the point of Bitcoin to become a usable currency? It's definitely crap at doing that right now. But with BCH, you get cheaper transaction fees and quicker confirmations.

For a currency to win, I think it must really give the benefit of being used as currency. When I want to buy coffee with it, I wouldn't want to pay double or triple the price of coffee for my transaction costs and the merchant has to wait for days for my coins to drop into his wallet. To me, the decision is as simple as that. I would bet on a currency project that is catering for user's and merchant's needs.

At the moment, things are stabilizing for BCH. I think there's enough reason to hang on to your BCHs.

If you want more, this article gives a good primer: http://marquezcomelab.com/index.php/bitcoin-network-getting-really-congested-and-time-it-serious-worry

There is history about same situation. It is etherium and etherium classic.
So etherium classic didn't die. It living. And actually more and more services starting support it. And it also rised up.

So there is very big chance that the same will be with bitcoin cash.

This mean - just keap it for long-term.

It's not as broad as PoW. Bitcoin and Bitcoin Cash both use SHA256, which means the specialized ASICs manufactured to mine BTC are also highly effective at mining BCH. Some altcoins use different PoW algorithms that make GPU or CPU-mining more effective than ASICs.

BCH is only a threat if Bitmain's pockets are very deep. They would need to manipulate the exchange rates and pour a lot of money into marketing to stir up demand for it.

It is not a threat for bitcoin, it is valuable now just because of its name "bitcoin cash" and mining profit. If any other new coin offered bitcoin cash's features, it would had a market cap of less than 100M.

I think that everybody is like that in this moment. Just a month passed from BCC appearance and people still didn't get what to do with it. Somebody even said that it is a babble. But the price for Bitcoin cash is keeping to grow. I also have some coins and I am confused about my moves towards this currency. But I would not say that BCC is taking bitcoin down, the same way we could say that ETH is moving bitcoin down.

If this is the case, then every alt using POW ever created has been a threat to the existence of Bitcoin. As long as mining is profitable, miners don't give a damn about Bitcoin. This is the whole idea of mining. But at the same time, some miners do have stake in expensive Bitcoin. Alts is short term, Bitcoin is long term. BCC is not the threat it tried to be.

There are many coins very similar to Bitcoin; most altcoins are just forks of Bitcoin. Most don't copy the UTXO set as BCH did. It could be taking part of BTC's market capitalization; after all, if people are buying BCH (and they seem to be, as there is considerable volume), that's less money invested into BTC. We really can't tell what will happen in the long term, though. I think it's prudent just to wait a while and see what happens. At worst, you miss an opportunity to make more BTC profit. At best, you are positioned to take advantage no matter which coin emerges the winner.

I'm not too worried about BCH as a threat to BTC, personally. 8MB blocks aren't necessary, its developers are unknown and there is no economy built around it.

Why Bitcoin cash a threat for Bitcoin?It will never be able to get the equivalent of Bitcoin.

BCC is just an altcoin which was created by hard fork when trying to create a clone of bitcoin.Since it was created by hard fork of bitcoin,only for that reason,it has that much huge market cap.It has no special features or promising factors to deliver.Its still alive due to support of some miners who find it easy to mine and some big whales who find it easy to pump and dump BCC for some extra cash.We exactly don't know that when it would crash.So,better sell it for bitcoins just like most people do and hold your bitcoins for huge benefits.

Right now bitcoin cash is better as a currency than BTC - with btc you cant transfer money in a timely manner for a reasonable cheap...what good is a currency that cant do that? I hope BCH can keep growing and pose a threat to bitcoin, atleast to make it better down the road.

I think bitcoin cash will never compete with bitcoin because bitcoin cash is just a bitcoin shard. And maybe bitcoin cash will not last long, the price is now quite high but I am not optimistic that bitcoin cash will last long

I've heard this topic several times. It should be made clear that BCH in this case is a new altcoin and just came out. what you think so you issue a statement that BCH is a threat to Bitcoin. You must have a clear basis for making a statement. and you must also know that now bitcoin is King. so it is unlikely that BCH is a threat to Bitcoin.

No, more altcoins are being made and getting better.  If they start topping Bitcoin in value, I think Bitcoin will become more valuable to.  It's all based off of Bitcoin anyway which is more known as a name and already integrated in stuff.  I think it would take a very long time for Bitcoin to simply die or be replaced all together.  But by that time you'd know enough to own the alternate currencies replacing it.

check the markets. volume is tiny for it. the developers are not competent. it's gonna be screwed with by miners until it's a laughing stock. whatever chance it had is gone for now. maybe they can pull it back but releasing it with such a gaping issue as the eda thing means i'll never trust any real money to them.