POLL: Bitcoin or Bitcoin Cash?
The Bitcoin versus Bitcoin Cash debate has caused some pretty crazy market movements in the past few days (Bitcoin Cash is moving hard again right now), so I'm curious as to Steem's thoughts.
If you had to choose one crypto moving forward, is it Bitcoin or Bitcoin Cash? Would love to hear which one and why in the comments and I'll run some analysis on the answers in the form of a follow up post.
Comment below in the following format and I'll make sure to tally all the information up for an analysis post.
- Bitcoin or Bitcoin Cash
- Why you prefer either Bitcoin or Bitcoin Cash
I have my own personal thoughts on the subject and I've tried to get a good gauge of things, but it's hard to make intelligent conclusions with some much of the politics associated, so hoping this provides a better idea!
Bitcoin Cash is true to the original design. SegWit introduces too many unknowns into the system. Even the SegWit developers themselves have absolutely no idea about the long-term implications of SegWit's effects on the incentive structure of the system.
8Mb blocks are not the end of the world, and will not lead to any more centralization.
The reason bitcoin has been embraced by many investors is because of security and reliability, but both of those features are directly undermined by SegWit. We already have less security on the legacy chain as many miners have defected to BitcoinCash. 3TH has already migrated to Bitcoin Cash mining pools:
And the reliability of the system is also undermined by the unknown risks related to SegWit transactions.
Great analysis and appreciate the thoughts. I've heard from a lot of people that Bitcoin Cash is more aligned with Satoshi's vision, so interesting to see how this pans out
It will be a nasty divorce, that's for sure. There is also a very real risk of another split in November due to the 2X portion of the NY Segwit2X agreement. The Core developers are trying their best to sabotage the 2X hardfork scheduled for November. Things in the crypto space will be very volatile over the next few months.
Bitcoin Cash. Because some people just want to watch the world burn. And, seriously, Bitcoin development needs a good shake.
Haha love some people watching the world burn, appreciate the thoughts!
BCH is just too crazy right now to even go near, unless maybe you're a trader. It just has not had time to prove itself and has still not settled down.
While Bitcoin is also very volitile, it has proven itself with long-term growth.
If you can take the swings and you're buying-and-holding for big long-term profits... you have to go with Bitcoin.
BCH - If you're a trader - 5 days ago you could've bought in at $300 and sold-out at $900 2 days later to triple your money.
It really comes down to what each person is trying to do.
Yeah honestly I'm still evaluating Bitcoin Cash and trying to figure out it's long-term viability. It's price movement in the past week is pretty incredible, but you don't want to be the bag holder at the top if it ends up fizzling out.
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Steem ON!
Assuming Bitcoin Cash is stable and is proven overtime... I'd go with Bitcoin Cash - because wasn't that the entire reason for the hard fork in the first place? The idea was to improve the time it takes to mine the coins based on the block size. This was done with the Bitcoin Cash software modification and now testing of the viability of the coin has ensued. Once the market makers feel confident and comfortable with Bitcoin cash and technical performance... it's game over and Bitcoin Cash goes to the moon.
Then again, the original Bitcoin is the original distruptor for Cryptocurrencies... so, I personally am not putting my eggs in one basket until the dust settles and the market speaks. Both coins will perform... it's just that one is going to make some folks far richer than the other.
The key is....
...to simply watch for the cracks in the bases. This is all you need to know to make money with Cryptocurrency.
Happens like this:
This market is for making millionaires and it's ripe for the making... :)