Bitcoin Cash is the new Bitcoin? Programmer explains.

in #bitcoin4 years ago

Is Bitcoin Cash taking over Bitcoin and why is Bitcoin so slow nowadays? Let's discuss and take a look at some charts.

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good moment to explain the difference

Thanks again Ivan for doing such a great video, and explaining all this for us!

It is very crazy times in the Bitcoin ecosystem. It’s fun to speculate and I’m very interested to see what will happen

Great video. I agree that sticking with the coin that has the most experienced developers is the safest strategy.

BCH is not taking over BTC, in my humble opinion. And the difference in blocksize will not mean so much in the future of trading, there are other solutions to be found...

"there are other solutions to be found..." like IOTA and tangle based data structure. Blockchain tech - read as ALL cryptos except IOTA - are all slow because of the data structure they use. IOTA's innovative data structure make it faster the more people use it. It's also feeless. How are bitcoin and other blockchain tech going to compete with that in the long run?

so if hashrate etc moves from BTC to BCH, then the difficulty of BTC adjusts down... will that mean that they'll all come back to BTC and send it on another rally?

Bitcoin cash can never be bitcoin . Bitcoin cash is controlled by rich people .

mining centralization is the devil

BTC Supply = 16,675,787 BTC
BCH Supply = 16,793,313 BCH

Again BCH mined in last one hr (725) are 29 times of BTC mined (25) in last one hr. Therefore, BCH just can not compete with BTC as far as value storage point is concerned.
BCH can never be BTC

If you have the time please check my account 🙌
https://steemit.com/@spotting-car

Are you really pretending that they don't have the same maximum supply of 21 million? Or are you just a disingenuous Bitcoin maximalist making a fake argument?

you are one on my best blogger about crypto

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Great article. Have upvoted you, please upvote me.

Thanks for explaining...have upvoted, please upvote me

Thanks for post.
I just watched your video. I'm still new to crypto, and I learned lots.
Thanks for the clear and balanced report.
Following. Look forward to next posts.

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Valuable info and opinions

hey @ivanli - another good post, good insight for anyone wanting to understand the nuances of bitcoin cash.

Would love to get you on an episode of Crypto Nights, let me know your thoughts on our latest episode that has done pretty well on Steemit!

https://steemit.com/steem/@antonburton/steem-to-usd5-by-january-as-explained-by-wildtrader-crypto-nights-episode-10

Drop me an email on [email protected],com and we will get this arranged, just want to talk to like-minded people on their projects and the world of crypto :)

Alex

Great post

Yes i agree with you ! the BCH is the new BTC .

Good job man, thank You for your free e-book, keep working, and never give up

Great info... Thanks!

Very well explained, thanks for a guidance! I suspect that we will not need to wait very long until the drop of BCH and the new hardfork for BTC, which will hopefully lead to more stable and balanced market. :)

It's so much more fun to just sit back and hold EOS knowing it will outperform both of those platforms in one year.

You make it sound like Lightning will be a standalone scaling solution; it won't be. Bitcoin will still need substantially larger blocks, Lightning only lessens that requirement. Opening channels still needs an on-chain transaction and they last for a finite period, generating a steady demand for on-chain transactions over time that still far exceeds the current capacity. Core is foolish for not increasing the block size now, and well beyond 2 MB, since Bitcoin will need at LEAST 100 MB blocks if it's to be mainstream adopted.

The other problem is that people are getting wrapped up in this "digital store of value" concept, when in reality every cryptocurrency could be treated as such, except others are also drastically superior as a medium of exchange. That's losing situation for Bitcoin, and if Core doesn't address their full blocks and high fees soon Bitcoin has nowhere to go but down.

Totally agree with you. Also with IOTA - which is feeless and way faster in transactions per second capacity - how will bitcoin in any modified form compete long term? It won't in my opinion. Usefulness, speed, reliability and cost are going to determine which crypto currency wins in the long haul. This is just my opinion and yes I own some IOTA coins too.

Thanks Ivan! Your videos are always excellent.

Bitcoin cash the new on marketcap

BCH never will be BTC! This is just an attempt by whales to make extra money.

After the bch hard fork today, bch will fall down in my opinion. So btc have to implement the lightning network fast as possible, to enhance its transaction speed. Then it will raise much.

I have bitcoin but having say that I am so sad didn't knew to how to run it out or how things are possible to get points on it.

I'm not really sure about all this as I'm still rather ignorant of all the details but from my experience I don't think bitcoin itself will ever go away. That's not to say that the new bitcoin cash doesn't handle transactions better in a sense of speed? This "is" a good thing but will it eventually do away with the original? I don't think so. If this was to be the case at some point then you;re saying a holder of bitcoin could go to bed one night with say 50 bitcoin and wake up with nothing or maybe over time he could just watch it dwindle away to zero and be worthless? I just don't see these things happening. The original will be there...............

Very good post.
I have Resteem and Upvote your article for progress and forward together.
Steemit
image

Bitcoin

I am so happy to be living through this time. We are on the ground floor of the crypto world. I'm thinking BTC will still be king for some time yet.
Crypto will set us free!!!

Thank you man. This is great because ı learned something on this video.