EDA was as stupid as it was needed. and it was obvious from day one that this fork is what miners want. they wanted to make money. it is pretty simple and they have been playing everyone to make that money. even people who were stupidly supporting bitcoin cash were being played by these miners to make them richer.
i don't think it will die this soon though. they still have some deep pockets and lots of manipulation to throw at this.
Topic: BITCOIN CASH is probably DYING - page 6. (Read 2646 times)
It was always clear to me that BCash would never get anywhere, but I was too lazy to dump it, so I hope it pumps one last time before the final death, because i don't want to make small gains off this. If they are going to attack us with hardforks, at least we can get good gains with it, so im hoping Roger Ver and Jihad Wu pump the shitcoin one last time then I will dump it hard.
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This is interesting, do you mind expanding - for the benefit of a newbie, why the larger block size causes a problem?
Large block size leads to centralization. Bitcoin was intended to be decentralized where anyone could be willing to run a node and help keep a healthy network with lots of nodes which aren't controlled by a few people with a lot of resources and money.
I just took a quick look where my full node is being run and the Bitcoin data directory is 147GB and in the last couple of days the node has sent 36GB and received 9GB of data. This blockchain size and specially the bandwidth is already rules out a lot of people even here in the US running a full node.
Do you really want a future with ony data centers capable of running a full node and a few people controlling the network?
BCH supporters have no problem with centralization and love the Chinese mining cartel monopoly and their coin Bitcoin Cash. Even then the same mining group is jumping back and forth gaming the EDA in Bitcoin Cash and making easy money. Bitcoin Cash claims to be fast like intended but when the miners leave so they can get easy coins when the difficulty drops, a block can take forever. Then they come back for easy coins and you get a block in minutes. BCH supporters then say look BCH is so fast and ignore the hours block time when the miners left.
This is also creating inflation and price drop in BCH coin dumps. And BCH will be severely impacted by the November fork and further competition for hashrate.
From the first appearance there were so many rejection, some people blamed BCH for the decreasing of bitcoin price and you can see how people reacted after BCH is out, people directly sold their coin for bitcoin, so actually from the first BCH already lack of interest
Bitcoin Cash was, from the moment it came out, dead on arrival.
8MB blocks are bound to render running a full node impossible. This has been known from the start and these events now don't help at all.
8MB blocks are bound to render running a full node impossible. This has been known from the start and these events now don't help at all.
Bitcoin Cash seems to be in a death spiral. It doesn't have enough hashrate, well sometimes it does and sometimes it doesn't. The miners are gaming the Emergency Difficulty Adjustment (EDA) and you sometimes you don't get a block in hours and hours. Miners are jumping back and forth between chains to trigger the EDA and game the system for fast blocks and easy money. Sometimes you have ~50 blocks in one hour.
This is creating a scenario of high inflation where you have a a lot more coins that are mined and dumped. Coins that there is a lack of demand for. So the price is dropping. 50 blocks in an hour with their EDA isn't what Satoshi designed for a coin that touts itself as being faithful to Satoshi's original design.
Add to that Bitcoin Cash supporters are supporting Segwit2X for no other reason than their hatred of Bitcoin Core. The crazy thing is, this might effectively kill off Bitcoin Cash. First the downward price trend of Bitcoin Cash might also not just be the crazy block times and inflation above but more BCH supporters will be selling at least some BCH to get BTC so they get both Segwit1X and Segwit2X at the fork. This trend probably will continue.
Additionally, if there is a fork Segwit1X and Segwit2X will be competing for Hash Rate and I am not sure where that leaves BCH which already struggles with hashrate at times especially if the price downward trend continues.
Bitmain seems to be doing what it can to save it's baby, accepting only BCH for its miners and I now see BCH advertisements in places like Blockchain.info. It feels like BCH is on life support.
This is creating a scenario of high inflation where you have a a lot more coins that are mined and dumped. Coins that there is a lack of demand for. So the price is dropping. 50 blocks in an hour with their EDA isn't what Satoshi designed for a coin that touts itself as being faithful to Satoshi's original design.
Add to that Bitcoin Cash supporters are supporting Segwit2X for no other reason than their hatred of Bitcoin Core. The crazy thing is, this might effectively kill off Bitcoin Cash. First the downward price trend of Bitcoin Cash might also not just be the crazy block times and inflation above but more BCH supporters will be selling at least some BCH to get BTC so they get both Segwit1X and Segwit2X at the fork. This trend probably will continue.
Additionally, if there is a fork Segwit1X and Segwit2X will be competing for Hash Rate and I am not sure where that leaves BCH which already struggles with hashrate at times especially if the price downward trend continues.
Bitmain seems to be doing what it can to save it's baby, accepting only BCH for its miners and I now see BCH advertisements in places like Blockchain.info. It feels like BCH is on life support.
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