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RE: Bitcoin Cash is experiencing a bit of a breakout, what's going on everyone?
Is BCC/BCH broken? Is it not doing what it said it would do? I have not kept track. Perhaps it is failing as some people have suggested. BTC still has serious design flaws, right?
It was taking hours per confirmation to send a transaction. There is no telling what will happen long term, but it's slow as molasses right now, and has 10% the hashing power it did when it launched. I haven't sent it again, but I will to test it out. My guess is it's even slower now.
Ugh, that was the whole point of it... to speed up the slow transaction speeds. /boggle
You can't do that unless all the miners are on board with the fork. This fork has shown that any fork of bitcoin will fail unless all the miners go along with it. At the moment, it appears to be easier to launch a new coin. I fully expect this to be a dead cat bounce, and we should find new lows in the coming days.
Well, that was my theory. BTC knows it has problems, it sees other coins closing in to fix them like ZenCash, and so it creates its own replacement to resolve the problems.
I'm not sure how things will play out of course, but certain coins will always beat out others based on value in the market. Will BTC always be the top dog? I don't think it will.
I disagree with you on BTC but we will see. Bitcoin has the longest blockchain, the most hashing power by far, the longest transaction history, and therefore the most secure blockchain, and it's also the most trusted because of the network effect, it has been flawless in the trust aspect since it's creation. There same isn't true of Ethereum, so Ethereum stands no chance at ever beating Bitcoin. No one else is even close.
I just worry about the transaction speed. It is slow.
Still brand new, give it time for difficulty adjustment - that is what miners are waiting for.
OR sell your Bitcoin Cash. Keep in mind that if Bitcoin Cash gets majority hashrate, Segwit Bitcoin has no difficulty adjustment except for default that takes two weeks, and the chain can literally come to a stop - that can't happen with Bitcoin Cash.
How long does the difficulty adjustment take? I thought it has already undergone at least one?
It goes down every time there are less than 6 blocks in a 12 hour period. There is also the difficulty adjustment that takes place every 2016 blocks.