So Bitcoin vs Bitcoin Cash? - page 2.

Wayan_Pedjeng

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Quote from: acpr23 on July 29, 2017, 07:37:19 AM

My question is should we fear BCC? I mean would it be the reason for bitcoin's death? Will people dump their bitcoin for bcc? Please clarify thankyou

In any case, we will be owning both Bitcoin and Bitcoin Cash. So even in the unlikely scenario of Bitcoin Cash replacing Bitcoin (proper) as the no.1 crypto-currency, I don't think that there is anything to worry. Other than the block size, there is hardly any difference between Bitcoin and Bitcoin Cash. But make sure that you are claiming BCC on August 1.

LouVandetta

sr. member

Activity: 602

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So this BitcoinCash (BCC/BCH) thing is only an altcoin?

So, whichever gain more popularity will be the major coin or not?
But, bitcoin will always be mother of all coins, right?

TravelMug

hero member

Activity: 2632

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Quote from: acpr23 on July 29, 2017, 07:37:19 AM

My question is should we fear BCC? I mean would it be the reason for bitcoin's death? Will people dump their bitcoin for bcc? Please clarify thankyou

There is always a fear that BCC could be the one. But I doubt that it will cause bitcoin's dead. And I don't think that people who have been into bitcoin for long, would suddenly dumped it for the alt-coin (BCC). There is nothing like the original and BCC is simple a clone. Bitcoin will still survived this battle and I speculate that it will remain strong. On the contrary, BCC will just fade away because the consensus of people here are pro-bitcoin. Yes, its a free bitcoin if the split happens, so I'm expecting that people will quickly get rid of this altcoin and stick with bitcoin.

Red-Apple

hero member

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Quote from: hitlab on July 29, 2017, 08:22:09 AM

In satoshi's paper he mentions that people vote with their hashing power. So the "real bitcoin" is the one with most hashing power support -> more security -> higher price -> greater adoption

Currently Bitcoin Cash is the chain with minority hash power support

very good point. now 100% of hash power is on current chain and signalling for current chain. BCC has rogue hash power on it which is so tiny.

last time i checked it was only ViaBTC supporting it and they already have a small hash power on bitcoin, they are selling some cloudmining but it seems more like ponzi than real thing.

ps. the funny part is BCC keeps repeating "satoshi's vision" Cheesy

orarider

sr. member

Activity: 575

Merit: 250

This division is causing different opinions, one side supporting the larger block, the other demanding the same. However, I think the larger block will come with poor security risks, so it's not safe to be selected.

Xavofat

hero member

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Did you see that ludicrous display last night?

Quote from: JorisK on July 29, 2017, 07:31:43 AM

Everything else forked from BTC is simply an altcoin.

You are incorrect. Going by that logic, we would be using the old chain with an overflow bug which allowed people to create unlimited coins.

Quote from: pinkflower on July 29, 2017, 07:25:08 AM

The real question is what should be followed to be considered the real BTC? The blockchain with more hashing power or the blockchain thats supported by Core?

All non-idiots are accepting that a blockchain doesn't always have to be accepted by Core to be the "real" BTC. Bitcoin had a consensus model which allows this to happen.

As for hashing power, it eventually just follows the economy. If 99% of the economy moved to BCC (unlikely), then eventually it would have at least close to 99% hash rate.

It's the economy that matters. Hash power mainly matters if you need consensus for a split (e.g. Bitcoin Unlimited) or are signalling for a solution (SegWit).

dothebeats

legendary

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Cashback 15%

SegWit - a proposed bitcoin scaling solution that removes the signature data from bitcoin transactions which eat up majority of the block size, thus freeing up some space from the block.

Bitcoin Cash - a proposed scaling solution by the miners to increase the block size to 8MB to include more transactions in a block. They don't want to incorporate SegWit in their proposed solution, they just want to include more tx in a block.

Choose your poison.

hitlab

member

Activity: 88

Merit: 10

In satoshi's paper he mentions that people vote with their hashing power. So the "real bitcoin" is the one with most hashing power support -> more security -> higher price -> greater adoption

Currently Bitcoin Cash is the chain with minority hash power support

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Quote from: pinkflower on July 29, 2017, 07:25:08 AM

The real question is what should be followed to be considered the real BTC? The blockchain with more hashing power or the blockchain thats supported by Core?

More problems incoming after this year.

What chain is the real BTC in entirely subjective, no one can force others to call some chain the real BTC and others as fork, right now it's not a problem because majority of users threat current chain (developed by Core) as Bitcoin, so if some minority of users would fork and try to take Bitcoins name, other users will threat those coins as counterfeit. However, if user support of both chains will be close to equal, some or both sides would have to choose another name for their chain, and this process might get very messy and cause confusion for less experienced users. Luckily, this scenario is not realistic as of now.

Quote from: JorisK on July 29, 2017, 07:31:43 AM

There is no consideration what is 'the real BTC'.

There is only one BTC: BTC

Everything else forked from BTC is simply an altcoin.

The chain that we are using now has already been forked many times. It's wrong to say that legacy chain is always BTC, it's entirely up to users to adopt or reject chains.

DaMut

sr. member

Activity: 1274

Merit: 263

Quote from: JorisK on July 29, 2017, 07:31:43 AM

Quote from: pinkflower on July 29, 2017, 07:25:08 AM

The real question is what should be followed to be considered the real BTC? The blockchain with more hashing power or the blockchain thats supported by Core?

More problems incoming after this year.

There is no consideration what is 'the real BTC'.

There is only one BTC: BTC

Everything else forked from BTC is simply an altcoin.

True,
People keep asking about who's the real one Bitcoin or Bitcoin Cash ?
Look at the ticker :
Bitcoin = BTC
Bitcoin Cash = BCC/BCH
Bitcoin Cash created based on Bitcoin which mean Bitcoin is a genuine item and Bitcoin Cash is a clone.
No matter what,a clone will never replace the real one.Let see what they did to ETH for example;
Because of hard fork they created ETC,and it's surpassing ETH at this moment ?
No,because it's created based on ETH chain.

Based on this example we can see,which one is having a more value in the community.
Many people keep shilling about BCC more likely because they're from 'that side' who is always created this drama.
Like they did back year and create another bitcoin such as Bitcoin Core,Bitcoin Unlimited and Other Type of Bitcoin

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

bitcoin cash will definitely be much slower when they fork. and that is because of the high difficulty of bitcoin. you will end up waiting for at least an hour for your transactions to be confirmed possibly a couple of hours. because they won't find any blocks.

and that will be the start of things.

in the future, if they get more hashrate they can find more blocks but as the price drops less miners will be willing to mine it so it remains low.
and low hashrate can even lead to attacks such as 51% attack because literary anyone with any hashrate can 51% it easily.

this all will last at least a couple of months and all this time bitcoin has SegWit, have been super fast and soon with LN it will have an additional ultra fast method of transacting money and also the price of it will break the $3600 barrier.

acpr23

sr. member

Activity: 350

Merit: 250

My question is should we fear BCC? I mean would it be the reason for bitcoin's death? Will people dump their bitcoin for bcc? Please clarify thankyou

JorisK

full member

Activity: 199

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Quote from: pinkflower on July 29, 2017, 07:25:08 AM

The real question is what should be followed to be considered the real BTC? The blockchain with more hashing power or the blockchain thats supported by Core?

More problems incoming after this year.

There is no consideration what is 'the real BTC'.

There is only one BTC: BTC

Everything else forked from BTC is simply an altcoin.

pinkflower

sr. member

Activity: 868

Merit: 259

The real question is what should be followed to be considered the real BTC? The blockchain with more hashing power or the blockchain thats supported by Core?

More problems incoming after this year.

linkme

sr. member

Activity: 324

Merit: 250

Bitcoin is the original version of bitcoin that we’ve used for years. Bitcoin Cash is a proposed fork of the bitcoin blockchain. Supporters of BCC believe that SegWit is attacking some of bitcoin’s fundamental strengths – like its decentralization and democratization. They believe SegWit2x is being led by individuals with ties to shady organizations, and that SegWit2x will be the end of bitcoin as we know it.
Quote from https://bitcoinexchangeguide.com/bcc-vs-btc

hitlab

member

Activity: 88

Merit: 10

Bitcoin is segwit with 1mb blocksize, the block size could be increased to 2mb in 3 months

Bitcoin cash is 8mb blocksize without segwit, bitcoin cash also has a dynamic difficulty adjustment so that if there is not enough miner support the difficulty will drop so that the chain will remain alive.

Skrodk

newbie

Activity: 45

Merit: 0

So I get the whole split thing, why it's happening and what it could entail etc.

I just have a question:

Whats the actual difference between Bitcoin and Bitcoin cash? Will cash have larger blocksize, will it be faster, better upgraded? And will old Bitcoin just be the same slow, 1mb blocksize?

Whats the actual difference here? Bitcoin cash just an altcoin which is faster?

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