Nobody has doubted or questioned the market value Bitcoin Cash holds. It is behind Bitcoin, Ethereum and Ripple making it 4th on the most valuable crypto but they have not been actively trying to ensure it stays there. It is just a fork, effectively a rip-off from Bitcoin. It was seems Bitcoin Cash was released to benefit the whales who could not force Bitcoin down a path they wanted to control. They argued it was to save Bitcoin and the crypto community but many believe it was a smokescreen to hide greedy intentions
Topic: Bitcoin vs Bitcoin Cash - page 50. (Read 31835 times)
Bitcoin Cash became the third most valuable crypto-currency on the market, behind only Bitcoin and ether. The objective around this new criptomoeda was to optimize the time of the transactions in bitcoin. Transfers face serious congestion on the BTC network.
It also seeks to reduce costs with the operation, the BCH network has basically become a support for Bitcoin, it offers users speed.
The Bitcoin community fears losing users to the new network. Bitcoin is a very valued asset, so they want to ensure its dominance in the market.
The devaluation of bitcoin may attract investors to Bitcoin Cash. Since both, in the thesis would have the same potential of valorization, that is to say it is a great
It also seeks to reduce costs with the operation, the BCH network has basically become a support for Bitcoin, it offers users speed.
The Bitcoin community fears losing users to the new network. Bitcoin is a very valued asset, so they want to ensure its dominance in the market.
The devaluation of bitcoin may attract investors to Bitcoin Cash. Since both, in the thesis would have the same potential of valorization, that is to say it is a great
Once BCH has the large blocks (not just a high size limit) that provide this empirical evidence, it will host the majority of bitcoin transactions and adoption. If BCH is successful, why would people want to switch back to BTC?
There is no evidence large blocks will make Bitcoin holders sell up and buy Bitcoin Cash or that Bitcoin Cash will ever host (as you put it) the majority of Bitcoin transactions.
As for the comment about why people would change back to BTC if BCH is successful, it is quite clear. No matter how successful BCH might become it will always be associated with the two or three whales and Asian exchange operators that wanted to create something that was designed to destroy Bitcoin not help or contribute to the community.
Why would people want to adopt using such a vindictive attempt of a fork that was created to destroy Bitcoin and then try to get everybody onboard the Bitcoin Cash bandwagon? Why would people want to adopt Bitcoin Cash instead of Bitcoin when the possibilty that if it was the primary base crypto it would be in control of a handful of people who could shape it whichever way they wanted without the majority of the community having their point of view taken in to consideration?
Strange comparison of the shit with a normal and great project, I must say that it's just my opinion and I apologize in advance if I offended someone, I did not want to do it, I call things by their own names only in my understanding of this situation, so I ask I'm sorry for such an association, I hope people will not be offended.
So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:
Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000
Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000
On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?
Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.
To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?
I can not really understand this Bitcoin Cash fud which is all around Twitter and so on.Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000
Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000
On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?
Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.
To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?
Because forks mean competition for the core devs and competition means better products.
At the moment of creation Bitcoin Cash was considered as competitor for the BTC, but not for a long. At this point is absolutely wrong to compare them, they are different class coins. Bitcoin is still the heavy-weight champion, not only by capitalization but also by being presented on almost all exchanges and trading pares. And the BCH is a coin which supported by group of investors only
BTC is the experiment. BCH, backed by the original bitcoiners, broke free from the experiment and its community of developers are now rebuilding Bitcoin as it was meant to be according to the white paper.
Bitcoin was created to bring back people’s control over their own hard-earned money. But now it is not so.
Bitcoin Cash is continuing the way Bitcoin was designed to progress. BTC is making a massive experiment into an entirely different system based on different principles.
Once BCH has the large blocks (not just a high size limit) that provide this empirical evidence, it will host the majority of bitcoin transactions and adoption. If BCH is successful, why would people want to switch back to BTC?
Bitcoin Cash can scale long-term and adapt layered solutions or even the LN, but couldn't Bitcoin just copy their success and implement it on the BTC chain if Bitcoin Cash can prove that it works and collects enough history of data for BTC devs to think its safe enough to do? At that point, if that occurred, what would happen to BCH?
Perfectly normal as BTC is the main pairing token.
And yet, this is a Bitcoin (Core, BTC) driven market fall again: BTC is falling too much compared to the rest of the market. It should fall less. This is very targeted and aggressive selling.
BTC is falling even more than Doge, that says a lot.
And yet, this is a Bitcoin (Core, BTC) driven market fall again: BTC is falling too much compared to the rest of the market. It should fall less. This is very targeted and aggressive selling.
BTC is falling even more than Doge, that says a lot.
Because bitcoin will be exhausted mined, so maybe that's the reason why people are creating hard forks, with forks there will be more choices for everyone to invest, and they have their respective values. So I just feel it is positive for cryptocurrency.
Currently as of 16th April 2018:
Bitcoin has circulating supply of 16,981,150
Bitcoin Cash has circulating supply of 17,076,688
Check CoinMArketCap. Bitcoin Cash currently has a staggering 95,538 MORE coins than Bitcoin even thoiugh the fork happened just months ago. Your view that Bitcoin will be exhaust mined therefore people are creating forks might be true for other cryptos butcertainly not for Bitcoin/Bitcoin Cash.
There was no real need to create Bitcoin Cash, it has no function worthy of a thoughtout planned fork.
Because bitcoin will be exhausted mined, so maybe that's the reason why people are creating hard forks, with forks there will be more choices for everyone to invest, and they have their respective values. So I just feel it is positive for cryptocurrency.
indeed this is just like useless that after hardfork people still more likely to use bitcoin rather than bitcoin cash and i think this is similar bitcoin cash just like other altcoin with high volume of support but besides that bitcoin cash can consider as the most sucessfully hardfork for bitcoin
Lots of negative reactions here and I do agree with them.
I don't really know why it is still standing up until now and I don't really much until I saw this thread.
It should have been dust from the beginning where people only care about selling all their BCH after the fork.
Are there still people expecting for a great value for this coin? I mean, are they still holding it? For what purpose?
I don't really know why it is still standing up until now and I don't really much until I saw this thread.
It should have been dust from the beginning where people only care about selling all their BCH after the fork.
Are there still people expecting for a great value for this coin? I mean, are they still holding it? For what purpose?
As far as the purpose of them (the whales and Asian exchanges) holding Bitcoin Cash is concerned, it is quite simple. The Bitcoin Cash they possess were created as a result of the fork and were evidently "free". They are holding their Bitcoin Cash as collateral to sell off as and when needed to release some FIAT but they are not selling off their Bitcoin because they know their experiment to destroy Bitcoin and to use Bitcoin Cash as its successor failed.
BCH was pointless from the very begining. It was created in order to spread FUD while spamming the original network. Bitcoin Cash devs claim that it was created to remove bitcoin's disadvantages but:
1. If you need biger blocks you coula already use LTC. It have bigger blocks, fast transactions and low fees.The point that BCH blocks are even bigger is not making any sence, the diffirence if insignificant for anyone.
2. Even if we accept that BTC network was not spammed then just take a look at its fees at the peak times. 20$+ fees was a normal thing. if you split this number by 8 you will still get higher fees then BTC had at the begining of the previous year and that is the fee that BCH will have with the same market cap. Scaling on blockchain is not an option.
3. Lightning network is going to solve all issues with tx speed and fees. BCH will become completely pointless. It is already useless but then it will be even worse.
1. If you need biger blocks you coula already use LTC. It have bigger blocks, fast transactions and low fees.The point that BCH blocks are even bigger is not making any sence, the diffirence if insignificant for anyone.
2. Even if we accept that BTC network was not spammed then just take a look at its fees at the peak times. 20$+ fees was a normal thing. if you split this number by 8 you will still get higher fees then BTC had at the begining of the previous year and that is the fee that BCH will have with the same market cap. Scaling on blockchain is not an option.
3. Lightning network is going to solve all issues with tx speed and fees. BCH will become completely pointless. It is already useless but then it will be even worse.
Lots of negative reactions here and I do agree with them.
I don't really know why it is still standing up until now and I don't really much until I saw this thread.
It should have been dust from the beginning where people only care about selling all their BCH after the fork.
Are there still people expecting for a great value for this coin? I mean, are they still holding it? For what purpose?
I don't really know why it is still standing up until now and I don't really much until I saw this thread.
It should have been dust from the beginning where people only care about selling all their BCH after the fork.
Are there still people expecting for a great value for this coin? I mean, are they still holding it? For what purpose?
I think Bitcoin Cash was created to supposedly clone Bitcoin and probably confuse some into thinking that it would be better than Bitcoin itself. It was one of the whales tactics to manipulate people into buying a newly created coin, thinking the price would be worth more than Bitcoin but sad to say it was not able to beat Bitcoins price even today. People were exchanging their Bitcoins to Bitcoin Cash at first and was actually hodling but some realized it was a trap and others are still hoping it would one day be worth more than Bitcoin.
Many might not have used the word "trap" but certainly many have realised that no matter how it is dressed up, Bitcoin Cash is NOT a successer to Bitcoin and was not created to help the community. Rather it was created to make the Bitcoin holding whales even more rich.
I think cash is always available to everyone. They are more liquid than BTC and they are less risky than BTC. BTC is just a convenient coin in quick pay between countries. Not suitable for domestic payment.
We are not comparing fiat cash with Bitcoin here. Check the topic, it is about a comparison between Bitcoin (BTC) and the forked coin Bitcoin Cash (BCH). None of them can be classified as currencies. They can be called as investment assets.
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