ViaBTC starts trading BitcoinCash BCC (Possible split chain of BTC)

in #bitcoin4 years ago

While Segwit got locked and looks good so far BitcoinABC scalling solution seems to not be giving up.

They still want to run USHF (User Activated Hard Fork) at 12:20 1st August 2017 (UTC time) which may end in chain split.

Initialy USAF was the plan for 1st August but seems current BIP91 lockin made it obsolete (we will see though, nothing is sure yet).

From today ViaBTC allows trading of BCC and it got today to as far as 5,999 CNY (886 USD).

Worth nothing that since longer time BitFinex Exchange has split tokens futures trading.

My text about its start here: https://steemit.com/bitcoin/@kingscrown/bitfinex-adds-trading-of-bitcoin-forks-bcu-and-bcc.

But they are named opposite BTU up there is current BCC, and BCC looks like will stay as BTC.

It is suggested to move BTC out of exchanges before Aug 1st to be sure if chain splits - to have both coins.

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

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Related to your post is this very interesting and at the same time very concerning theory about the bitcoin split ....

https://steemit.com/bitcoin/@ancap47/govt-sponsored-segwit-is-doa-dead-on-arrival-here-s-why

And here is a comment of the other side about those... statements:
https://www.reddit.com/r/Bitcoin/comments/6p0e4u/lol_rbtc_user_explains_how_bitcoin_core_and/

Seriously, SegWit has 100% signalling now - every pool is signalling it. I wish to see any code example instead of comparisons without any sense created by some Chinese miners so they can sell their version of Bitcoin to as many people as possible. But that's just my opinion. SegWit is working on Litecoin since few months by the way - no problems with it.

Also Bitcoin core is a team of over a hundred developers without any leadership - they protect the Bitcoin code. You can see what happens when other inexperienced devs try to crate their own Bitcoin - BTC1 unintentionally forked even their testnet...

Prices don't lie, shill: https://steemit.com/bitcoin/@ancap47/1-mb-segwit-bitcoin-down-big-block-bitcoin-cash-up-free-markets-don-t-lie

BTC.TOP has said that they will divide hash rate on price, so that means 1/6 of their giant mining farm is going to be mining bitcoin cash. Game over, you lost.

Everyone is free to mine China coin. But Im not sure about the adoption...

Follow up and vote for me, please

This comment has received a 0.46 % upvote from @booster thanks to: @katiepelc.

Just a heads up.
User @ancap47 downvotes everyone that doesn't agree with him in here, thus removing comments and eliminating any discussion.

Everyone that raises question if this 100% China controlled version of Bitcoin is really the answer for scalling problems have his comment removed (downvoted) here. If you wish to know more, please feel free to check:
https://steemit.com/bitcoin/@cardboard/bitcoin-segwit2x-update-split-warning

If you don't agree, no problem, just make a comment, but please don't censorship the discussion. It's not China.


Shills get censored on this forum. Don't like it? Invest more than $100.

Censor the post above;)

It is suggested to move BTC out of exchanges before Aug 1st to be sure if chain splits - to have both coins.

Also important: After Aug 1, be sure not to send coins anywhere that you don't control on both chains or which is sure to credit your coins on both chains (the latter refers to exchanges that implement auto-splitting), unless you have taken (somewhat complicated) measures to 'split' your coins into separate wallets.

Be careful even if it doesn't appear that the alternate chain is succeeding. The situation may evolve over some days (or longer)

The end is yet to come. Optional arrangement are always availabe

I am a bit worried about this news happening this coming August, worried about bitcoin situation the split thing might happen I am hoping that this will make positive news for bitcoin, but what if this gonna be the nightmare of bitcoin? fingers cross.

The split will be the best thing to ever happen to bitcoin. We can get away from the corrupted, sold out Core dev team once and for all.

Go ahead! China will have 99% hashrate of your china bitcoin! And remember to downvote this, no one can see it! Oh, and I got paid by blockstream, thats why I have 100 sp and cant do anything with you removing my comments, lol;) but yeah, China has censorship so I understand.

How do you get paid by blockstream? I want that too!

I'm really looking forward to this! BCC to the moon!

Happened years ago after majority of BTC core board was replaced in short order and before Mt. gox sploded. Bankers weaseled their way in.

When a relationship goes bad, a splitup is good. Positivity comes back when people agree with each other.

A friendly hardfork sounds good to me...

Agree. It reminds me just a little bit of Apple vs Microsoft, or Marvel vs DC. There is plenty of room for both, and we really shouldn't kill each other over it. :)

Do you think that whatever does end up happening on august 1st will affect the btc price for a while? I mean I know a lot of people are invested in it, but for people like me who want in, were kind of hoping it drops big so that we can afford to buy in. Idk if thats likely anynore though

I think it will drop at first, when a lot of people dump. Many people I know aren't interested in holding it as another altcoin, so they are just going to sell. We'll see, but if it ends up like ETC and ETH did, I'll be happy.

The behaviours resulted from these times in crypto are what I would call the most important aspects of how crypto will show the world its true strength. With or without a fork, the way communities become organised and influence each other while being exposed openly to the world brightest minds, its the ultimate test of blockchain technology reliability and software development endurance. Following the evolution of this is like watching a probe land on Mars... the difference is that in this, anyone can actually participate in something from the entire mission. To this, I think we usually call, history right?!

Anyone who understands the bitcoin protocol knows why big blocks are not a scaling solution.
If you increase the blocksize only expensive servers can run bitcoin then there's no point anymore
And in any case this is not a sustainable system 2MB blocks are just twice as fast as bitcoin
That's not fast then you need 4, 8, 16MB blocks and it gets worse and worse
Anyways this BCC isn't gonna do anything I think

Time to get forked up, then we will see where the real money is with. My bet is ABC / unlimited/BCC if the world is to use it. Otherwise floppy disc size blocks are going to spoil the onboarding of the world. Can't believe the debate has gone on so long.

If so, why there's 100% SegWit signalling now? Also, some more info:
https://steemit.com/bitcoin/@cardboard/bitcoin-segwit2x-update-split-warning

Upvoted to counteract downvote.

100% signaling is to prevent UASF (BIP 148) on 1st Aug, BIP 91 is lesser of two evils imo.

Don't listen to 'cardboard'...he is most likely a Blockstream shill.

Lol yeah, I got paid by AXA ;) by the way, dude, yu need more SP to downvote everyone that dont agree with you!

I just hope there is not 2 coins

We are in for a turbulent time over the next few months. We have cleared the first hurdle with BIP91 locking in. This happened relatively smoothly, yet in the days before bitcoin suffered a 25% drop in price as people panic sold. With more uncertainty to come, there is sure to be more volatility in the markets and things are unlikely to settle down until late Nov at the earliest! It's going to be an interesting

SegWit has 100% blocks signalling now. Also I hope that Craigh Wright is not your source for SegWit information:
https://twitter.com/i/moments/888788567497035776

Only because of Antpool and the other major Chinese mining pools like BTC.TOP and Via. I have a feeling Bitmain/Antpool may pull out of the Segwit2x and support BCC. If that happens, we're looking at major market disruption.

I personally can't fathom why Jihan would go along with Segwit2x knowing that once segwit gets activated, core and other pools have three months to come up with all kinds of creative ways undermine the 2mb HF in November.

A plausible theory may be that Jihan and the other pro-big-block pools are planning on switching support to a fork with much larger blocks 8mb+.

I can't fathom why anyone would want segwit corrupting the blockchain unless they were being paid some of that 75 million from Blockstream.

Why are you even answering if you downvote everhthing?:D

A plausible theory may be that Jihan and the other pro-big-block pools are planning on switching support to a fork with much larger blocks 8mb+.

Yep, that would centralize even more power in their hands. Do you guys know, that every antminer has a backdoor?
http://www.antbleed.com/

It basically means that Jihan can switch off any miner if he decides to. Either you obey or your $$$ investment is worth nothing.

That's why we have UASF and that's why we're gonna have SegWit. China can have 100% control over their China Bitcoin Cash, but not over the real Bitcoin.

I'm fairly certain that Antbleed was just propaganda. Why? Because that propaganda page was launched anonymously!

https://pastebin.com/jREuwQ8b
Someone didn't want his miner to be switched off... But who knows for sure, probably Jihan himself only. Yet it's hard to argue that his antminers have majority in the Bitcoin hashrate.

The same BS was also used to sell the ASICboost as some kind of undisputed fact, when in fact there is no hard evidence that Bitmain has ever used the covert form on the Bitcoin mainnet. Zero empirical evidence!

Who's Craig Wright? Is that what they're telling you to say?

Awesome!

Succinctly put. ;)

Thx for the information

There is so few miners that will go along with this b/c its not profitable to do so. If two chains are formed the big chain where 90%+ more of the hash is will attack the small chain UAHF and eliminate that.

That is unless Bitmain gets behind BCC.

so, if the hard fork does not happen, people who bought the futures would lose their money? That's a big risk! I may not be understanding this correctly.

and yet, there are enough people buying the BitcoinCash coin that it is trading at about 1/6 Bitcoin, a market cap of over 6 billion, which makes it the 3rd biggest crypto and it hasn't even forked yet.

And not a single coin has been mined yet. Lol.

Of course not. The fork is for Aug 1, 12:20. That is exactly the time you can expect the first big block.

You're spending a lot of time trolling...hope you're getting paid.

I wish:( btw, you're gonna run of voting power soon, you downvote everyone who doesnt agree with you...

Yeah, I don't think we have heard the last from the "big blockers". I'm keeping my BTC off any exchanges for the next couple of weeks for sure. Nice post, I will resteem. Thx

@kingscrown:

So, this is going to cause some volatility... Thoughts?

Of course it will :) If you are a daytrader it's actually good news.

F.U.R.R. for updates, and opinions as to buy into the new blockchain split?

Thanks, @kingscrown!

This means you have a new follower ;)

I really hope to get to an agreement before that date. If not, I will go with the original coin.

Bitcoin abc looks amazing but the security with dynamic blocks? umm

This does not look good.
Let's see if anything else can be reached or if we are going to be left with more people taking their money out of the markets due to the chain split.
Let's see what will happen.
Thanks for the update @kingscrown

Great post thanks so so much
Am now understanding cryptocurrency well

How much is the total supply of BCC coin ? Thanks!
Resteemed!

Is there a place on to keep these BTC in safety. Until the end of these amendments.
Thanks to @kingscrown and @etheraveum I will resteem.

Keep in any wallets you can control your private key/recovery phrase

thx there !

Electrum (edited) wallet for example. Not on exchanges for sure.

desktop wallet or myetherwallet.com ?

Sorry, electrum, lol.

Splitting the chain for the sole purpose of making a profit?

Don't be throwing around accusations like that. Who would think of doing such a thing... o.O...

No - for gaining the control.

@kingscrown Thanks for the info !

Creating a newer and lesser value altcoin that is going to try compete with Dash, LTC...etc... doesn't make much sense to me, but hey, there's a lot of them out there making money so why not.

Glad these articles are coming out now. We need some real feedback into the market to gauge the wider public interest.

Weather is forecasting some drops of BTC value with a big spike of FOMO around the 2nd of August..... ha!

What is worth nothing, on bitfinex?

Thank you for letting us know. Now we know why everyone is freezing the accounts.

Sounds very complicated. Why do they want to do this?

Money, money aaaannnnddd money. It's being talked up like an ideological battle or something to do with principles, but it's basically a rally to take the opportunity to make an altcoin that gets a boost from it's link to BTC. That's my two cents anyways.

good luck

Interesting post 👍

Up voted 🔝

Nice one, sir

Btc initially championed decentralization, a system of defined rules for money and user choice..the discussion is now how miners and dev's have all of the power and can impose their will on the community through signalling for miners and through only recognizing one coin on an exchange. Btc future filled with confusion and uncertainty. Very sad-hope that the community revolts and requires a better governance structure.

Fantastic Post as always @kingscrown we are always looking forward to reading the posts you make!

A split doesnt sounds good to me...

Would be great news if you have some BTC already! Will depress the price in the lead up then hopefully show gains after everyone realises that it really changes nothing to see another altcoin enter the market.

Both ViaBTC and Bitmain have been supporting the New York Agreement from the start. Planning a UAHF on the 1st of august seems not in line with that agreement. The market was very happy when the SegWit2x compromise finally got all miners aligned. If ViaBTC and Bitmain now support a UAHF that seems to me a sign of unreliability and I am sure the market will not be happy with this new controversy. It will not be good for the general image and the acceptance of the bitcoin.

Thanks for your contribution

I wouldn't keep any of my coins in the exchanges, that is a good way to loose them.

@kingscrown, not to be confused with Bitconnect's BCC coin.

Also, this requires transferring bitcoin to viabtc?? if so, I don't like that but then again, to each their own poison.

This is very interesting , thank you for informaton!

Great post!

Resteemed
Thx

what. split - already? that was fast

Not yet, August 1st.

I thought BCC was the BitConnect coin and nothing to do with BTC?

Lol, thet took the same acronym ;)

Oh I see! :-P

I've just noticed @crypt0 mentions BCC in his latest vid too.

Thanks for the info, I'm ready for a split chain if it happens, I will have coins on 2 CHAINZ! In seriousness, BCC is already taken by BitConnect

Are these just futures tokens? Don't we need to have a hard fork for there to tradeable Bitcoin Cash?

Great post thanks for sharing


Like a bad divorce, some differences appear to be irreconcilable. Such is the case with the Bitcoin ABC scaling proposal, which may split the Bitcoin blockchain via a user activated hard fork (UAHF) on August 1. The solution was announced by bitcoin company Bitmain as a contingency plan for the user activated soft fork (UASF) that is scheduled for that day.

In anticipation of this split, ViaBTC has begun trading Chinese Yuan for their new Bitcoin Cash (BCC) coin. This token will support the new blockchain should the hard fork occur.


Source

Actually, this might not be a bad idea at all. BCC want's to upgrade the block size to 8 mbs. THAT is a huge upgrade compared to the current official proposition of bitcoin.

Datz great @kingscrown
Im hoping to get involved

If everything will go bad with the split and the drama, and considering Ethereum still has some major security issues (millions of dollars were stolen literally week ago because of parity vulnerability) - all of that can mean a probable temporary dark age for cryptos in a near future.

So the trades have been started showing now on coinmarketcap.com . The trade is pretty much going sideways and i think will continue the same throughout this month.

nice post..

hola a todos ayudenme a tener votos-- sigamonos--

BCC == Bitmain Cancer Coin

If you want a centralized corporate alt-coin, then get into BCC.

The rest of us will be in BTC, watching the show with our HODL popcorn.

Personal Interest at it;s peak! wew throw everything you got on bitcoin! bitcoin will absorb it no matter what kind you throw at him! he will still be at top!

Great- more FUD!

this is a really interesting read. thanks for sharing @kingscrown

It's hard to believe if it's true,

Great live debate from Tone Vays and Jimmi Song on this topic.

Who knows, VIABtc might be prepping for an exit scam.

Tone Vays throws around the word "scam" a lot.

Yes indeed he does, and I think the word scam is very relevant when talking cryptocurrencies right now.

I am going to go out and buy a hat, so I can hold the fuck onto it! Wild ride ahead.

I guess that all we can do is wait.

We:ll see the final outcome within a few days. It should be interesting to see how people react.

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