Bitcoin cash warz
And the winner is...
BTCC with 1 minute blocks and 8 MB max blocksize.
To split or not to split?
When two dogs fight over a bone, the third one will run away with it... This time it is not about Bitcoin, BTC, but about one of its former blockchain forking spliting clones: Bitcoin Cash, BCH. At that time innitiated and sponsored by Bitmain and ViaPool. The main Bitcoin Cash developer, Amaury Séchet, got banned from the BCH slack channel. And Twitter was showing the first signs of a Bitcoin Cash war developing.
Just a few days before the shait really started to hit the fan in the BCH realm, a Bitcoin Core coder, Cory Fields, discovered a critical bug in the Bitcoin Cash code and offered a fix. This shows the true nature, I think, of majority of the Crypto developers and the community. But the fight this time is not about Bitcoin, BTC, even though Bitcoin Cash sponsor CoinGeek still promotes its Bcash as Bitcoin.
There was a hostile Bitcoin Cash take-over recently, with lead-developer Amaury Séchet getting silenced. And mister C. Wright of the nChain company claiming a new developement team is taking over. Of course under the umbrella of nChain and sponsored by ChainGeek. The resulting hardfork is called Bitcoin (cash) Satoshi's Vision, BSV(?). But does this leave the original Bitcoin Cash, BCH, for dead behind?
Another blockchain split
As long as there are still miners supporting the original Bitcoin Cash, BCH, chain, then there will be a split. And the Bitcoin Satoshi's Vision, BSV, team will need to make sure their hardfork is secured. The are going to be major differences between the two versions and nobody would want their transactions to get messed up. And from what I read on Twitter the original Bitcoin Cash, BCH, blockchain will get a lot of support.
So, Bitcoin Satoshi's Vision will need its own entrance into exchanges, with its own unique ticker. My guess is that it maybe will become known as Bitcoin Satoshi, BS, and it will get a part of the current Bitcoin Cash, BCH, market value. It could be about 35 USD for BS, where BCH will stabilize around 150, I guess. A Bitcoin Cash blockchain split seems about to happen.
Bitcoin Core will win?
This is not Bitcoin, BTC, but a recent hardfork of Bitcoin Cash, BCH. It has BTCC as a ticker and succesfully moved to one minute blocks of 8 MegaByte very recently. This could be the one leaving the cash-fighters way behind and get to a value of 350? But that is my speculation, so please remember to only invest what you are willing and able to lose. My vote is still for Bitcoin, BTC, as the one.
Why I think that Bitcoin Satoshi's Vision, BSV, is going to fail, is because the involvement of mister C. Wright and his nChain company. And less because of the CoinGeek sponsoring and their apparant cagefight mentality. Mister Wright has made it very clear what he wants to do. It is a 1.5 trillion market that he wants his share of. Like he clearly stated on many occassions: he is a businessman in the first place. And he dislikes Ancaps, Libertarians and Voluntarists. Just watch his public dictations.
The true vision?
Kuddos to him for being open, direct and honest about it. In all of the videos I watched where he dictated his BS vision he was very clear. The banks and goverments in, patents for his company and extremely huge blocks that will need a proper infrastructure. Basicly this means big companies centraly controlling his version of Bitcoin. But there is some kind of religious adoration going about in a part of the Bitcoin Cash community that makes the blind leading the blind, I think.
Yet, there will also be those who will cheer for the way this will unfold, as suggested by mister Wright. What better way for mass adoption when banks, governments and multinationals get in and take over. But I do find it hard to belief that this was actually the vision of Satoshi Nakamoto. And I think that the majority of the Cryptos will turn their backs on this. It was supposed to be decentralized, and to function as a substantive functioning alternative to the current system.
Time will tell
The Bitcoin Satoshi, BS, version will come in november 2018. It will be an nChain business controlled version, CoinGeek sponsored, that hardforked off Bitcoin Cash, BCH. This will probably cause another blockchain split clone. Another Bitcoin Cash, BCH, split, after already Bitcoin Core, BTCC, split off. This will cause a price drop, as I expect. Except for BTCC, that I think will come out on top.
Exciting times again in the Cryptos realm. Will it be possible for banks, goverments and multinationals to take-over control over Bitcoin, as the Satoshi's Vision version? Or will Cryptos show its true strength as a true free, open and decentralized alternative to the old system of central control by the banking monetary government system. Time will tell...
Really valuable crypto analysis. Do you think that Bitcoin Cash will be standard like Bitcoin?
Thank you, it is strictly as seen from my personal point of view.
Will Bitcoin Cash, BCH, become a standard on its own, like Bitcoin, BTC, tough question...
First, I do believe the forces behind the Bitcoin (cash) Satoshi's Vision do want to enforce their own business central controle standard. Meaning they want their version of Bitcoin to become an integrated part of the realm of banks, governments and multinationals.
And again, this is what mister Wright, of the nChain company, has been very open about all the time. It is just business and within the old economy model this means BCS {Bitcoin (Cash) Satoshi's Vision} will become monopolized. Like Android is owned by Google and is still Open Source. Or Apple is Open Source based, yet still is closed source themselves. Both have become their own standards. So in that sense, yes, BCS (probably a better ticker for Bitcoin Cash Satoshi's Vision) could become a standard in their own field. Just like Ripple, for instance.
Bitcoin, BTC, and other Cryptos that follow the path of the truely decentralized free and open source realm will be a standard of its own. Colaboration will be key there, to create means for humanity to live free and substantive. To me that is what Cryptos are about. To be an unique alternative system. This does not mean though that banks, governments and multinationals will not try to get in control. As it can also be seen as a very lucrative market. Or as mister Wright puts it: 1.5 trillion in potential revenue a year.
For some of the early hour Libertarians, Ancaps and Voluntaryist it might be difficult to explain why the still endorse a business take-over like Bitcoin Cash Satoshi's Vision, BCS(?). But I guess it shows what they are really about.
To me it just made me convinced more about what part of the Crypto realm I support. And I am also very aware of the reality that a lot of people will choose the other side of that.
To finalize this, yes, as I see it, in a sense BCS will try to become a kind of financial industry business standard. It will be intertwined with the old economy, made up of banks, governments and multinationals. Where the needed infrastructure to make this possible will be so extremely demanding that is will become centrally controlled.
On the other side there will be the Cryptos, like Bitcoin, BTC, that can be participated in by every human. It will be truly decentralized, free and open sourced, a substantive standard on its own. With its own unique economy, for many around the world a digital form of 'cold-hard-cash'. Creating freedom for the many.
That last one I prefer and expect Bitcoin, BTC, still to be the most valuable. Like the digital equivalent of gold.
Great info post!... for me,kinda irrelevant cause I'll never invest in any of them.. :)
Thank you. Did buy a few BTCC myself, just for the fun of it.
Informative post my friend . Invest side is very bad . So i will never invest any side . Thanks for sharing @oaldamster
It will get better again over time I think.