Topic: I Don't Like The Idea of BCH Being A Challenge to BTC (Read 251 times)
Don't worry, BCH will never be a challenge to Bitcoin because even though it is having some activities done, it'll always stay as an alternative coin for Bitcoin. Those upgrades that you are saying will come in time, there's no need to rush because we are still developing.
BCH and BTC are very different. BCH is centralized and powered mostly by Roger Ver. In this regard, BCH is rather a competitor to XRP or Ethereum, although technologies are different.
However, I think the Bitcoin network needs upgrades like this.
Bitcoin is getting upgraded. You got segwit and you are getting lightning network. What more do you want? Too many upgrades is also bad because it makes the coin more vulnerable and divides the community.
Because of how BCH community is pushing for it to be better and better they're getting into arguments and can't achieve any adoption. Sometimes slower is better.
In recent weeks, there has been lots of activities on the BCH network, yes some will be splitting the network and the fragmentation will keep BTC dominating. However, I think the Bitcoin network needs upgrades like this. Something direct and not necessarily wait for LN for scaling https://cryptoinfowatch.com/bitcoin-cash-miners-mine-multiple-32-mb-blocks/
I agree that block size debate is ongoing for a long time now for bitcoin network. In the meantime, Segwit helped us to scale up the network by removing the signature data from the transaction to add more space to the block which accommodates more transactions in the block. But Lightening Network will help us to solve the scaling issue (which is not significant now) by a different method without increasing the block size.
However, I am against the idea of providing the complete power to the miners because we have already seen what has happened in case of BCH. Ver is the one controlling the entire network of BCH, not technically but definitely through influence. It compromises the decentralized nature of the bitcoin network which may prove fatal in the times to come! Instead of increasing block size, I would rather stay with the LN for good.
BCH was a part of Bitcoin that went through the splitting process and even if BCH went through the same process like this I really think that Bitcoin Cash will not make a threat with Bitcoin, And bitcoin don't really need an upgrade it will keep on increasing even without further changes, There is no Altcoin that can pose a challenge with bitcoin, Altcoin will still be an altcoin and I think you are thinking that way because you think that the price of bitcoin is stable now and cause by the bearish market but this will change and the price will then increase or pump.
It's only right for other chains to attempt to evolve and challenge. It's a free and open market. Survival of the fittest. We should never become complacent. Every chain will naturally do what the majority of their users think is best to succeed, but incompatible ideas obviously can't work together. If BCH now has an irreconcilable difference between two factions in their userbase, then yeah, that chain could well split into two. People then have the freedom to choose. Exactly as before with the BTC/BCH split. Consensus could not be reached, so we naturally went our separate ways. Each to their own.
As for making a similar "upgrade" in BTC's network, by all means feel free to state your case, but we've had that discussion just a few times already (comical understatement) and it seems like people have made up their minds about it for now. That's not to say it'll never happen, but it's not something that we are going to rush into.
As for making a similar "upgrade" in BTC's network, by all means feel free to state your case, but we've had that discussion just a few times already (comical understatement) and it seems like people have made up their minds about it for now. That's not to say it'll never happen, but it's not something that we are going to rush into.
In recent weeks, there has been lots of activities on the BCH network, yes some will be splitting the network and the fragmentation will keep BTC dominating. However, I think the Bitcoin network needs upgrades like this. Something direct and not necessarily wait for LN for scaling https://cryptoinfowatch.com/bitcoin-cash-miners-mine-multiple-32-mb-blocks/
I know that there will be a coin the would replace Bitcoin as a payment method, but for now BCH cannot Bitcoin go into zero because a lot of people is expecting from Bitcoin.
BCH can challenge BTC but it will not be widely accepted like Bitcoin. BCH is a fork of BTC and had worked on some limitations of BTC. BTC is the first cryptocurrency with a good community behind it.
In recent weeks, there has been lots of activities on the BCH network, yes some will be splitting the network and the fragmentation will keep BTC dominating. However, I think the Bitcoin network needs upgrades like this. Something direct and not necessarily wait for LN for scaling https://cryptoinfowatch.com/bitcoin-cash-miners-mine-multiple-32-mb-blocks/
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Bitcoin network needs upgrades like this
What upgrades?By "upgrades" do you mean a hard fork?
I don't think that Bitcoin Core needs a hard fork and I don't think that a hard fork will be a so called "upgrade" for the bitcoin network.Let's just leave the BCH community with their own problems and disputes.
BCH (Bitcoin Cash) in just another Altcoin to me, nothing even close to Bitcoin. Maybe it's gaining more acceptance that other Altcoins, bit it will never jump over Bitcoin Core.
In recent weeks, there has been lots of activities on the BCH network, yes some will be splitting the network and the fragmentation will keep BTC dominating. However, I think the Bitcoin network needs upgrades like this. Something direct and not necessarily wait for LN for scaling https://cryptoinfowatch.com/bitcoin-cash-miners-mine-multiple-32-mb-blocks/
As much as we don't want a split, obviously, it happened already so there's no need to complain right now. But as far as being challenge? I don't see any altcoins posing a threat to bitcoin, not even Bitcoin Cash, Ethereum or XRP. Well they have tried but didn't suggest. So for sure Bitcoin will still have the consensus support of this community whatever challenges it would face from "altcoins". And I'm sure that you're aware of the people behind Bitcoin Cash, most of them are not to blindly trusted anyways, so that's enough proof that those coins will still be small as compare to the "real Bitcoin".
As long as people associate CSW (Faketoshi) with Bitcoin cash we have nothing to worry about, that monkey is doing far more harm than good.
However, if the BCH community boot this loser out then perhaps this will show their community maturing and then we will need to keep a keen lookout as they could become future competition.
However, if the BCH community boot this loser out then perhaps this will show their community maturing and then we will need to keep a keen lookout as they could become future competition.
Bitcoin is just fine where it is. It's the God Father of cryptocurrencies and I don't see BCH even getting anywhere close to it's dominance. A better argument would be Ethereum but definitely not BCH. I will certainly died down with it's hype. 4 or 5 years from now no one will care about BCH.
The best thing to do is ignore things that aren't bitcoin until people start valuing them even half as much as bitcoin.
If that ever happens, it might be worth looking into why people value this altcoin so much.
If that ever happens, it might be worth looking into why people value this altcoin so much.
Any Altcoin could challenge Bitcoin even do this is an ambitious goal but they will not know if they will not give it a try like i heard of this coming Bitcoin cash fork in which fully supported by SharkPool that although it is a difficult move to challenge Bitcoin but at least the attempt will make the Bitcoin cash price value to climb up once again that will surely attract more people to buy more Bitcoin cash.
In recent weeks, there has been lots of activities on the BCH network, yes some will be splitting the network and the fragmentation will keep BTC dominating. However, I think the Bitcoin network needs upgrades like this. Something direct and not necessarily wait for LN for scaling https://cryptoinfowatch.com/bitcoin-cash-miners-mine-multiple-32-mb-blocks/
Bitcoin would always remain on top, I dont see BCH as a challenge to bitcoin, no matter the activities on the network I see bitcoin dominating the blockchain network and this would always be the case. Maybe an upgrade on the bitcoin network could really be of help.
In recent weeks, there has been lots of activities on the BCH network, yes some will be splitting the network and the fragmentation will keep BTC dominating. However, I think the Bitcoin network needs upgrades like this. Something direct and not necessarily wait for LN for scaling https://cryptoinfowatch.com/bitcoin-cash-miners-mine-multiple-32-mb-blocks/
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