Whoever came up with bcash was a genius!

Bitforking

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Quote from: FiendCoin on August 21, 2017, 11:24:05 PM

Quote from: romani245 on August 21, 2017, 11:17:58 PM

Quote from: stupid_seb on August 21, 2017, 11:08:48 PM

7. Creating $10B out of thin air (genius!!!)

Only a small portion of the market can cash out at these prices. The whole plan depends on the vast majority of supply not being sent to exchanges (actually not a bad assumption, based on BTC).

Bigger issue: $10B created now could = $10B lost by both network's market caps if there is a real, prolonged split and no single one emerges as "the real Bitcoin."

Like I said earlier, genius and it takes balls to try and pull off.

so, does everyone agree that BCH a success!?

Indrawan77

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Quote from: ObscurePen on August 22, 2017, 11:55:31 PM

Yeah, you did forget something. In fact, you forgot the biggest point. Bitcoin cash is an unusable altcoin that has copied Bitcoin’s primary code. If you take a look at the market cap or price of Bitcoin cash and compare it with Bitcoin, it is obvious which coin is better and more accepted by the cryptocurrency world. I believe that Bitcoin cash would take a path like Litecoin. Because it was supported by large companies like Bitmain, its price remained stable in the beginning. But as soon as people understood which the real coin was, its price began coming down. I think that the price of Bitcoin cash is going to dip well below 100 USD and take its rightful place in the middle of the altcoins.

I agree bitcoincash is just another alt coin which got a huge publication, it does give a better profit to miner, but the real usage hasnt been known and the volatility is very high and unstable, I still need time to see what is real feature of bitcoincash, for me bitcoincash still not a good investment yet

ObscurePen

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Yeah, you did forget something. In fact, you forgot the biggest point. Bitcoin cash is an unusable altcoin that has copied Bitcoin’s primary code. If you take a look at the market cap or price of Bitcoin cash and compare it with Bitcoin, it is obvious which coin is better and more accepted by the cryptocurrency world. I believe that Bitcoin cash would take a path like Litecoin. Because it was supported by large companies like Bitmain, its price remained stable in the beginning. But as soon as people understood which the real coin was, its price began coming down. I think that the price of Bitcoin cash is going to dip well below 100 USD and take its rightful place in the middle of the altcoins.

MyIdeas

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Quote from: aso118 on August 21, 2017, 11:46:43 PM

Quote from: maku on August 21, 2017, 08:25:36 PM

There is one major downside I can think of it know - Bitcoin Cash was created out of thin air, it is nothing more than a copy of Bitcoin blockchain.
Apart from obvious confusion it created, this move also brings an interesting question.
If split happened once - then what will prevent bitcoin network to split again in the future, for example during another scaling upgrade?

You can decide to split the blockchain today. What matters is if there are enough people to support your move. Bitcoin Cash created a fork on the issue of scaling, and it had considerable support amongst the community. You cannot expect this to repeatedly happen.

Since when the copycats have been starting to earn the title "genius"! Time to leave this planet really! Praising is one thing but this is actually more than enough. Cheaters are just Cheaters and bitcoin cash is just a pathetic copy of Bitcoins. Sorry to say dude, but BCC is trash when compared with digital gold.

FiendCoin

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The devil is in the detail.

Quote from: electricretard on August 22, 2017, 07:09:41 AM

All this shit shows that the amazing decentralized solution to everything.... isn't so decentralized after all. It's all fuckery and manipulation by a couple of dipshits who have a lot of money. They want to f everyone in the a, and a lot of people are just presenting their arses and taking it. BCC is an altcoin with some rich guys controlling it

Too bad bitmain is digging in against Bitcoin. If the Bitcoin community ever wakes up to how much of a threat there are, they're going to have problems.

What I would like to see is the Bitcoin whales who hold the majority of bcash, dump them on the asian exchanges driving bcash towards zero. That would be the end of bcash.

electricretard

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All this shit shows that the amazing decentralized solution to everything.... isn't so decentralized after all. It's all fuckery and manipulation by a couple of dipshits who have a lot of money. They want to f everyone in the a, and a lot of people are just presenting their arses and taking it. BCC is an altcoin with some rich guys controlling it

joosh

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Quote from: aso118 on August 21, 2017, 11:46:43 PM

Quote from: maku on August 21, 2017, 08:25:36 PM

There is one major downside I can think of it know - Bitcoin Cash was created out of thin air, it is nothing more than a copy of Bitcoin blockchain.
Apart from obvious confusion it created, this move also brings an interesting question.
If split happened once - then what will prevent bitcoin network to split again in the future, for example during another scaling upgrade?

You can decide to split the blockchain today. What matters is if there are enough people to support your move. Bitcoin Cash created a fork on the issue of scaling, and it had considerable support amongst the community. You cannot expect this to repeatedly happen.

I agree. This fork wasn't created out of thin air, it happened because the community had two competing ideas on how to approach the issue of scaling, Core devs wanted to scale off-chain and Cash devs wanted to scale on-chain. We'll see which idea gains more support.

ObscurePen

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Quote from: diagla on August 21, 2017, 07:49:54 PM

Just like Litecoin and all the other forks and all the other altcoins. It was just marketed well and supported by the big miners and big names in crypto. That's what made it successful, not anything else.

Are you kidding me? This is funny. Real funny. Bitcoin cash was never successful. Look at its market cap. Bitcoin cash is falling and falling bad. The only reason it is staying stable at the moment is because of Bitmain’s constant manipulation of the network. This is basically the only reason why Bitmain even has any hash power. Otherwise, it would have already lost all its hash power already. But I have to appreciate Bitmain. They are extremely clever and are making record high profits from this pretender coin. Like a previous reply said, they have some brains and some balls.

crazyivan

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Well, the only issue is big farms are going to invent a new useless alt whenever mining diff goes sufficiently enough. On the other hand, if all this attracts more people and more money into crypto, I d be willing to live with that.

trecore4

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Just proving stuff around and saying the bcc is one decreasing the loads on miners shoulder won't make it the unique one. When BCC was created I'm sensing different blue print behind the model. I think it was made to recreate the new era with new currency leading the crypto world but with the misery BCC fell into the category of altcoins having the same properties. Still don't understand why it is so and what are the next moves for it. Not sure why it is decreasing the miners load, it is confusing them in choosing two different currencies that's all I know.

freebutcaged

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Anyone interested in a centralized currency? welcome to join the Wu club, this is ridiculous we had centralized currencies until now but only controlled by

Governments but now it's being controlled by a private company, why do you think it made a lot of noise while there has been other forks of Bitcoin without

Any media coverage? simple they spent money to push their agendas. if mining BCH is profitable then better to do it and then dump like what we have done

So far with Bitcoin.

ObscurePen

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Quote from: maku on August 21, 2017, 08:25:36 PM

There is one major downside I can think of it know - Bitcoin Cash was created out of thin air, it is nothing more than a copy of Bitcoin blockchain.
Apart from obvious confusion it created, this move also brings an interesting question.
If split happened once - then what will prevent bitcoin network to split again in the future, for example during another scaling upgrade?

Nothing is stopping the Bitcoin network from splitting again in the future. In fact, such a split will happen in November this year. What is called a “hard fork” will occur. Such a fork advocates for a split. In other words, a split will most definitely happen during a hard fork. However, there is a ways to prevent a split and that is buying utilising a soft fork. A soft fork is activated by the miners. Basically as long as the majority of miner show support for the changes, a split will not occur. If this is not the case, the developers can force a hard fork … I think. You may want to double check that last bit. But as an answer to your question, there is nothing stopping a network split again in the future.

Herbert2020

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Quote from: squatter on August 22, 2017, 12:50:13 AM

Quote from: Herbert2020 on August 22, 2017, 12:43:43 AM

it has always been about the money with everyone. some more than others. they want to maximize their profit. some by taking over the (bitcoin) project and be the center of it, some by creating a new altcoin (like the 100s of others) to make money, some by doing something so they can sell their products (that is right, companies like bitmain are going to sell so much more mining equipment now that there is an additional low difficulty thing to mine), ....

we can just hope that this greed and childishness doesn't cause any long term irreparable damage.

Honestly, I'm worried, and all the more because of the November fork. If BCH continues to be more profitable to mine, and Antpool (and presumably other Bitmain pools) point more and more of their hash rate at it, that's going to disrupt the BTC network. Longer confirmation times, stuck transactions. More importantly, the network will be secured by increasingly less hash power.

And what are new investors going to think of all this? In a way, if you don't understand the intricacies of blockchains, it looks like Bitcoin can just be printed by forking the chain.

i don't think bitcoin cash can remain more profitable for long. there are multiple things that will ensure that.

1. the difficulty won't stay like this forever. it will be re-adjusted at some point and with the bigger hashrate the difficulty will increase and make the blocks harder to find and reduce the profitability.

2. there is always the issue with price. currently there has been about 980 blocks mined in the past 24 hours (it should have been 144 instead) that is all free new coins that are rewarded to miners. it is about 6.8x more than what it should have been (around 12,250 BCH) and it will continue to be this high until the difficulty is increased again.
we all know miners sell their coins for profit and to pay the bills. that is 6.8x more sell pressure on the market than normal.

FiendCoin

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The devil is in the detail.

Quote from: squatter on August 22, 2017, 12:50:13 AM

Quote from: Herbert2020 on August 22, 2017, 12:43:43 AM

it has always been about the money with everyone. some more than others. they want to maximize their profit. some by taking over the (bitcoin) project and be the center of it, some by creating a new altcoin (like the 100s of others) to make money, some by doing something so they can sell their products (that is right, companies like bitmain are going to sell so much more mining equipment now that there is an additional low difficulty thing to mine), ....

we can just hope that this greed and childishness doesn't cause any long term irreparable damage.

Honestly, I'm worried, and all the more because of the November fork. If BCH continues to be more profitable to mine, and Antpool (and presumably other Bitmain pools) point more and more of their hash rate at it, that's going to disrupt the BTC network. Longer confirmation times, stuck transactions. More importantly, the network will be secured by increasingly less hash power.

And what are new investors going to think of all this? In a way, if you don't understand the intricacies of blockchains, it looks like Bitcoin can just be printed by forking the chain.

That's definitely a problem. Bitmain really stirred a lot of shit up with bcash. Hopefully it don't permanently harm the blockchain space.

squatter

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STOP SNITCHIN'

Quote from: Herbert2020 on August 22, 2017, 12:43:43 AM

it has always been about the money with everyone. some more than others. they want to maximize their profit. some by taking over the (bitcoin) project and be the center of it, some by creating a new altcoin (like the 100s of others) to make money, some by doing something so they can sell their products (that is right, companies like bitmain are going to sell so much more mining equipment now that there is an additional low difficulty thing to mine), ....

we can just hope that this greed and childishness doesn't cause any long term irreparable damage.

Honestly, I'm worried, and all the more because of the November fork. If BCH continues to be more profitable to mine, and Antpool (and presumably other Bitmain pools) point more and more of their hash rate at it, that's going to disrupt the BTC network. Longer confirmation times, stuck transactions. More importantly, the network will be secured by increasingly less hash power.

And what are new investors going to think of all this? In a way, if you don't understand the intricacies of blockchains, it looks like Bitcoin can just be printed by forking the chain.

FiendCoin

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The devil is in the detail.

Quote from: Jet Cash on August 22, 2017, 12:40:25 AM

I gather the good thing about Bitcoin cash is that it proves 2 minute block generation times are viable.

There were some blocks less than a minute Shocked

maydna

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i think as long as we can make profit with anything then its genius Grin

because i see in here, all of people which have btc is getting free bcc with the same amount of their btc. this mean every people is genius because from this they can sell their bcc and make money and do it over and over again until the volume in each market is increase drastically.

Herbert2020

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it has always been about the money with everyone. some more than others. they want to maximize their profit. some by taking over the (bitcoin) project and be the center of it, some by creating a new altcoin (like the 100s of others) to make money, some by doing something so they can sell their products (that is right, companies like bitmain are going to sell so much more mining equipment now that there is an additional low difficulty thing to mine), ....

we can just hope that this greed and childishness doesn't cause any long term irreparable damage.

Jet Cash

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I gather the good thing about Bitcoin cash is that it proves 2 minute block generation times are viable.

aso118

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Quote from: maku on August 21, 2017, 08:25:36 PM

There is one major downside I can think of it know - Bitcoin Cash was created out of thin air, it is nothing more than a copy of Bitcoin blockchain.
Apart from obvious confusion it created, this move also brings an interesting question.
If split happened once - then what will prevent bitcoin network to split again in the future, for example during another scaling upgrade?

You can decide to split the blockchain today. What matters is if there are enough people to support your move. Bitcoin Cash created a fork on the issue of scaling, and it had considerable support amongst the community. You cannot expect this to repeatedly happen.

Topic: Whoever came up with bcash was a genius! (Read 1503 times)