Topic: Bitcoin Cash is the real Bitcoin. SegWit is the AltCoin. - page 2. (Read 2196 times)

BCC is in total agreement with Satoshi's Whitepaper. SegWit is a wild deviation very far indeed from the whitepaper. Why do people insist on calling Core's Bitcoin the 'real' bitcoin. Bitcoin Cash is going to rule because on chain scaling will prove fine while Core Blockstream's altcoin will burn in flames. Don't sell your BCC.

It is a really interesting analysis and it might be true that BCC is following the foot steps of satoshi's white paper and as long as he is not available bitcoin has to move forward and must have the necessary upgrades to keep bitcoin in par with the increasing number of users and i think it is not that bad to have two competing coins. Wink

simonmerch

newbie

Activity: 7

Merit: 0

I currently hold btc on an armory wallet that I've set and left untouched. Sadly, on a different machine, and haven't fully downloaded the bitcoin core blockchain just yet, so I can't move things around.

Will I still be able to claim my equivalent of BCH, even though Armory doesn't support it? What will I need to do to claim my share of BCH if I can't transfer my BTC to a BCH compatible wallet in time for the August 1st split?

Celebrity

sr. member

Activity: 420

Merit: 250

BCC is in total agreement with Satoshi's Whitepaper. SegWit is a wild deviation very far indeed from the whitepaper. Why do people insist on calling Core's Bitcoin the 'real' bitcoin. Bitcoin Cash is going to rule because on chain scaling will prove fine while Core Blockstream's altcoin will burn in flames. Don't sell your BCC.

I'm sorry, but nobody trust bitcoin cash here. We all know bitcoin is the genuine one and all other forks will be very manipulative as the time goes by. We don't want to be fooled by capital holders of forked bitcoins...

Bitcoin cash has nothing to do and will be dumped hard after the distribution.

Xavofat

hero member

Activity: 938

Merit: 559

Did you see that ludicrous display last night?

Quote from: fisheater on July 31, 2017, 04:17:10 PM

Why do people insist on calling Core's Bitcoin the 'real' bitcoin.

Because Core literally is Satoshi's creation.

Core is not the same team of developers that it was back when satoshi was around. You have to understand that in a permissions system, any and all implementations and forks can exist. The debate that's really going on is whether they think BCH is viable as a currency and whether its developers are competent, but some people weirdly delude themselves into acting like only Core could ever be competent, and that seems like a dangerous mentality which you're on the brink of having.

What's the interests for most miners to switch? I don't see any.

You are incorrect. In the long term, miners will just follow the economy. If BCH is given a price of 0.25 BTC, then in theory it would end up with 1/4 of BTC's hashrate.

They wouldn't do it exactly, but just like how a lot of GPUs are being bought for altcoins, it's all about the pursuit of profit.

Quote from: BitWhale on July 31, 2017, 03:51:07 PM

Lots of profit to be made for the unbiased, risk hungry trader.

I agree. I think that people let their opinions get in the way of their judgement. Even if you don't like BCH at all, you have to recognise that it could easily have a lot of hype in the future with the right whales.

XbladeX

legendary

Activity: 1302

Merit: 1002

BCC is in total agreement with Satoshi's Whitepaper. SegWit is a wild deviation very far indeed from the whitepaper. Why do people insist on calling Core's Bitcoin the 'real' bitcoin. Bitcoin Cash is going to rule because on chain scaling will prove fine while Core Blockstream's altcoin will burn in flames. Don't sell your BCC.

LOL

yea... fork yourself away and HF fun mate then if you can make it BIG do it.
I don't even belive such idiots exist. Maybe in long rund you will fill blockspace but it will be really hard for you.

Bitware

hero member

Activity: 926

Merit: 1001

weaving spiders come not here

Quote from: HabBear on July 31, 2017, 03:30:28 PM

BCC is in total agreement with Satoshi's Whitepaper. SegWit is a wild deviation very far indeed from the whitepaper. Why do people insist on calling Core's Bitcoin the 'real' bitcoin. Bitcoin Cash is going to rule because on chain scaling will prove fine while Core Blockstream's altcoin will burn in flames. Don't sell your BCC.

The chain that has the most hashing power behind it is the "real" bitcoin. The other is an altcoin. That was Satoshi's design.

fisheater

hero member

Activity: 770

Merit: 605

Quote from: dfox101 on July 31, 2017, 03:25:56 PM

The problem with Bitcoin Cash is that they have a very small share in the bitcoin mining, so they can't do much and will be an altcoin. The "correctness" on the tech side is difficult to say, you can have different ways to perform the same thing.

They point of a coordinated event is for the miners to agree to switch to bitcoin cash at the same time (or following the same starting point). You can't use past mining power history as an indicator of future mining power history. Tomorrow (today for some) miners are making the decision to devote their mining power to the new currency, thus giving it majority share and the power it needs to be "the longest chain".

What's the interests for most miners to switch? I don't see any. The main bitcoin will continue to dominate, any side fork will not be significant at all.

Pettuh4

sr. member

Activity: 812

Merit: 251

Quote from: HabBear on July 31, 2017, 03:30:28 PM

Quote from: dfox101 on July 31, 2017, 03:25:56 PM

The problem with Bitcoin Cash is that they have a very small share in the bitcoin mining, so they can't do much and will be an altcoin. The "correctness" on the tech side is difficult to say, you can have different ways to perform the same thing.

They point of a coordinated event is for the miners to agree to switch to bitcoin cash at the same time (or following the same starting point). You can't use past mining power history as an indicator of future mining power history. Tomorrow (today for some) miners are making the decision to devote their mining power to the new currency, thus giving it majority share and the power it needs to be "the longest chain".

I feel Bitcoin cash is dead on arrival as it lacks the true originality of Bitcoin from what I've read and observed so far. I don't know how they are going to convince neutral minded people with the proposal of their new Altcoin. Smh

BitWhale

sr. member

Activity: 279

Merit: 250

Technically all we have to do is hold both chains, then theoretically no bitcoin user can lose unless we ALL lose. If we all lose, I can only chaulk it up to the herd's own stupidity.

No reason to argue over it, let's see what does best.

I'd take this over 2 years of stale-mate anyday.

What will be interesting is the whale games... there's two groups of people with deep pockets and a reason to make sure their side wins. We are liable to see huge fluctuations in both coin's price as the whales battle it out. We are also liable to see information released during this time to try to make one side look better than the other.

TinFoil Hat Time: Imagine if Craig Wright proved he was Satoshi right after the fork? What a shit show that would be lmao, I can't think of a better way to make a kagillion dollars than proving your fork is the actual vision of Satoshi himself.

Lots of profit to be made for the unbiased, risk hungry trader.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: dfox101 on July 31, 2017, 03:25:56 PM

The problem with Bitcoin Cash is that they have a very small share in the bitcoin mining, so they can't do much and will be an altcoin. The "correctness" on the tech side is difficult to say, you can have different ways to perform the same thing.

They point of a coordinated event is for the miners to agree to switch to bitcoin cash at the same time (or following the same starting point). You can't use past mining power history as an indicator of future mining power history. Tomorrow (today for some) miners are making the decision to devote their mining power to the new currency, thus giving it majority share and the power it needs to be "the longest chain".

dfox101

hero member

Activity: 551

Merit: 500

The problem with Bitcoin Cash is that they have a very small share in the bitcoin mining, so they can't do much and will be an altcoin. The "correctness" on the tech side is difficult to say, you can have different ways to perform the same thing.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: ziiip on July 31, 2017, 03:04:34 PM

How would the BCC chain know what coins you spend on the BTC chain and vise versa? Wouldn't their separation mean you could sell both 100 BTC and 100 BCC? After the split the two chains will not interact or connect at all and only share the historical block chain, so how would they know you spent 10 BTC or BCC to take i from your balance of the other?

lol, apparently a bunch of people don't know how it works, if they did alts would be WAY down like 500%

Quote from: darkangel11 on July 31, 2017, 02:53:13 PM

Yes, he HabBear has no idea how it works.
Once the fork is complete you will be able to move your private key to a wallet that supports BCC and be able to spend your BCC. If you spend BCC, your BTC will remain, so you ARE getting something for free!

Quote from: anonppcoin on July 31, 2017, 02:37:03 PM

WRONG. Don't listen to this person.

Wow, thanks all. I stand corrected. I just had to verify it for myself here.

I'm shocked, to be honest. This is the exact opposite of how it would work in the "real" world. Seriously.

The reason I thought the two blockchains would talk to each other post-fork is because they're talking to each other before the split to know how many bitcoin sits with each address (and therefore how much BCC to allocate for everyone).

The Bitcoincash.org website has such little official information of how this works (shocker) that it's easy to assume the path forward would be the one that keeps everyone's balances the same, rather than doling out free cryptocurrency.

Incredible. Thanks for keeping me correct.

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

Quote from: Motivator on July 31, 2017, 02:23:58 PM

Can I send my BTC to Bittrex tomorrow, then within the wallet what stored my BTC recover the seed to get the Bitcoin Cash? I hope I'm not too late to dump this bitcoincash shit before it drops into single digits... Sad

Only thing I'm worrying about, losing profit on my free coins.

Bittrex has already closed BTC deposit/withdrawals until after the fork. Maybe Kraken still accepts BTC. Still, cold storage is the safest option.

datafish

donator

Activity: 129

Merit: 100

Swimming in a sea of data

Who cares which one is the "real" Bitcoin? I want the best Bitcoin. After years of argument, we shall soon find out which one is best.

crazyivan

legendary

Activity: 1652

Merit: 1007

DMD Diamond Making Money 4+ years! Join us!

Will u take the same bet, your BTC for my BCC, 1:1? If you support it and think it should be number 1, take the bet.

Cause if u wont take it, I ll be dumping my BCC as fast as I can. Bullshit coin which brings nothing to the table and is supported by 1 SINGLE POOL wanting to make money on it. 1 SINGLE POOL! I wound even call it an altcoin. For that a coin need to have more support.

JohnMacaron

newbie

Activity: 28

Merit: 0

Quote from: darkangel11 on July 31, 2017, 02:53:13 PM

How would the BCC chain know what coins you spend on the BTC chain and vise versa? Wouldn't their separation mean you could sell both 100 BTC and 100 BCC? After the split the two chains will not interact or connect at all and only share the historical block chain, so how would they know you spent 10 BTC or BCC to take i from your balance of the other?

Quote from: darkangel11 on July 31, 2017, 02:53:13 PM

I think you need to be more clear with your advise. It's not "don't sell your BCC", it's "don't sell". Everyone (with private keys) will get an amount of BCC that equals the amount they have in BTC. For example, let's say someone owns 100 Bitcoin. They will then also own 100 BCC. If they sell 10 bitcoin, they will then have 90 bitcoin and 90 BCC.

The more I read posts today the more it sounds like people think they're getting something for free. They're not...they're just getting the option to convert existing Bitcoin to Bitcoin Cash.

Yes, he HabBear has no idea how it works.
Once the fork is complete you will be able to move your private key to a wallet that supports BCC and be able to spend your BCC. If you spend BCC, your BTC will remain, so you ARE getting something for free!

Yeah, but if some BTC exchange doesn't support BCC, they can try to steal your BCC whilst you transacting your BTC. Coz keys are equally apt for both currencies, aren't they?

ziiip

full member

Activity: 255

Merit: 102

uBlock.it Admin

How would the BCC chain know what coins you spend on the BTC chain and vise versa? Wouldn't their separation mean you could sell both 100 BTC and 100 BCC? After the split the two chains will not interact or connect at all and only share the historical block chain, so how would they know you spent 10 BTC or BCC to take i from your balance of the other?

I think you need to be more clear with your advise. It's not "don't sell your BCC", it's "don't sell". Everyone (with private keys) will get an amount of BCC that equals the amount they have in BTC. For example, let's say someone owns 100 Bitcoin. They will then also own 100 BCC. If they sell 10 bitcoin, they will then have 90 bitcoin and 90 BCC.

The more I read posts today the more it sounds like people think they're getting something for free. They're not...they're just getting the option to convert existing Bitcoin to Bitcoin Cash.

Yes, he HabBear has no idea how it works.
Once the fork is complete you will be able to move your private key to a wallet that supports BCC and be able to spend your BCC. If you spend BCC, your BTC will remain, so you ARE getting something for free!

lol, apparently a bunch of people don't know how it works, if they did alts would be WAY down like 500%

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

How would the BCC chain know what coins you spend on the BTC chain and vise versa? Wouldn't their separation mean you could sell both 100 BTC and 100 BCC? After the split the two chains will not interact or connect at all and only share the historical block chain, so how would they know you spent 10 BTC or BCC to take i from your balance of the other?

I think you need to be more clear with your advise. It's not "don't sell your BCC", it's "don't sell". Everyone (with private keys) will get an amount of BCC that equals the amount they have in BTC. For example, let's say someone owns 100 Bitcoin. They will then also own 100 BCC. If they sell 10 bitcoin, they will then have 90 bitcoin and 90 BCC.

The more I read posts today the more it sounds like people think they're getting something for free. They're not...they're just getting the option to convert existing Bitcoin to Bitcoin Cash.

Yes, he HabBear has no idea how it works.
Once the fork is complete you will be able to move your private key to a wallet that supports BCC and be able to spend your BCC. If you spend BCC, your BTC will remain, so you ARE getting something for free!

anonppcoin

newbie

Activity: 48

Merit: 0

Why do people insist on calling Core's Bitcoin the 'real' bitcoin.

Because Core literally is Satoshi's creation (acknowledging there have been some modifications and enhancements over the years).

BCC is in total agreement with Satoshi's Whitepaper. Bitcoin Cash is going to rule because on chain scaling will prove fine while Core Blockstream's altcoin will burn in flames. Don't sell your BCC.

I'm glad you think so, a solution to chain scaling is what we need...I'd prefer it not be called Bitcoin Cash, but solving the problem is paramount.

I think you need to be more clear with your advise. It's not "don't sell your BCC", it's "don't sell". Everyone (with private keys) will get an amount of BCC that equals the amount they have in BTC. For example, let's say someone owns 100 Bitcoin. They will then also own 100 BCC. If they sell 10 bitcoin, they will then have 90 bitcoin and 90 BCC.

The more I read posts today the more it sounds like people think they're getting something for free. They're not...they're just getting the option to convert existing Bitcoin to Bitcoin Cash.

WRONG. Don't listen to this person.

izza123

full member

Activity: 382

Merit: 100

How would the BCC chain know what coins you spend on the BTC chain and vise versa? Wouldn't their separation mean you could sell both 100 BTC and 100 BCC? After the split the two chains will not interact or connect at all and only share the historical block chain, so how would they know you spent 10 BTC or BCC to take i from your balance of the other?

Why do people insist on calling Core's Bitcoin the 'real' bitcoin.

Because Core literally is Satoshi's creation (acknowledging there have been some modifications and enhancements over the years).