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RE: There is no need to be concerned about Bitcoin Cash...
I sense a success like BTX. 3 Bitcoins, each worth something sounds like something to look forward too. Let the users decide which chain to support. It almost smells like freedom.
Yeah well... let's start with this: Bitcoin's network is currently 90% for SegWit which, believe it or not - is gonna solve the scaling problem. So the problem is solved. Then Bitmain comes up with this idea of forking bitcoin, beacuse it's more profitable for them to mine that fork they designed (I have a whole article written about it: https://steemit.com/bitcoin/@lifipp/blog-2-or-to-fork-or-not-to-fork-that-is-a-question ). So they make the whole network nervous just so they can profit more... that sound pretty egoistic don't you think. Moreover - if only Bitmain (and few other small pools) gonna mine that coin - it's 100% centralized then and isn't that against the Bitcoin's most sacred ideologies? I can smell no freedom here man, think about. And last but not least - because Bitcoin Cash code was coded "behind a curtain" - Bitmain did not share the code as open source so others couldn't point out the potential bugs and improvement ideas, that means there is a VERY high possibility of Bitcoin Cash having a security flaw that could be missused... you have heard what happens to cryptos when they get hacked, right? So where is the good side, the pros, the freedom?
Anyone can fork Bitcoin, right now, right here. What counts is not the forks, but the followers. People are free to chose which chain to support. If we cannot stand this freedom, Bitcoin looks like a failed experiment to me.
There are tons of Bitcoin forks out there (because the technology is open source -anyone can copy-edit it, that's clear). Many developers initially used Bitcoin code to create their very own coin. But that is not the point - of course it's people choice which chain to support. I am just really against the method with which the Bitcoin fork is pushed forward right now - it's just not the right way to do it...