What is Bitcoin Cash (Aug 1st Split)
When it seems like everything is all set and we are going to get Segwit on Bitcoin, a group comes out of left field and introduces Bitcoin Cash. Bitcoin Cash is a fork of Bitcoin that will activate on August 1st and will offer an alternative with a 8 MB blocksize (and no segwit!).
Use code "6bXKwD" and get 3% off every purchase on Genesis Mining! https://www.genesis-mining.com/a/287920 🤑
♨️Social:
http://boxmining.com
Steemit: https://steemit.com/@boxmining
Twitter: https://twitter.com/boxmining
Facebook: https://www.facebook.com/boxmining
🤑 Buy Bitcoin: https://www.coinbase.com/join/590c3a1c8bfa31012ffacf87
💰 Secure your Crypto with Hardware Wallets:
Ledger: https://www.ledgerwallet.com/r/428b
Trezor: https://trezor.io/?a=6xd5fhdqqjng
💪Donations:
Bitcoin : 13EvsPm3YhiCPGksQQdvQUFtsbF8FoU6Cz
Ethereum: https://etherscan.io/address/0x58d98516363D2A5f93CE6aB4A4a909599C3EEC3a
DASH: XcAREQEEunvv6rJza9LKDzdyjZ1BwBN2iK
Litecoin: LXeXUr2Hr3ePgHb9aDjr4QdqA4DPXoTarU
NEM: ND6WRNN2W2AZLON65EGI3Y46M4TWP3HNKSB4BGW2
Decred: DsgsSqYF2oSZ5MJeoqiEMyeJdWhdvWk8A4s
Byteball: FSLKOZBIO37AUVGWCWO6PLO455W2UYDV
👩🏻🚀 Save on Amazon with Purse.io
https://purse.io/?_r=Fxj40g
💱Software Wallet:
Windows/Mac/linux: http://exodus.io
I think the name is good, the biggest problem of a chainsplit is that people loose trust in bitcoin. Now we can say, this is bitcoin and this is bitcoin-cash :) Not sure, but at least it sounds explainable to outsiders
We should still call it J
Modifying the Bitcoin protocol to make it act and trade like cash, and still scale up "on blockchain", would best be served by forking DASH, and calling it Bitcoin CASH. These developers that want to just change the block size are missing the point. When Darkcoin forked the Bitcoin blockchain years ago, they went through all these growing pains, and determined the best route to 'on chain' scaling. After rebranding the name to DASH, their plan was set, and we now have the 'roadmap' letting us know how they will achieve 4000trans./sec by 2020.
No, bitcoin cash will die a natural death :) Awesome video as usual. Thanks for sharing
I would not be so sure. The big-blockers don't want segwit as it changes the rules and incentive structure of the system. The Chinese pools have enough hashpower among themselves to kick-start BCC, and if BCC stabilizes and gains some value, it's core's chain that will start to bleed miners.
You made a good point, I think it may be, too early to speculate, let's see how it goes. I understand what BCC has going for it is the appeal it has for users of bitcoin who don't like Segwit.
Interesting time ahead.
The biggest wildcard with BCC is Bitmain. If Bitmain's pool, Antpool, decided to support BCC and allows its miners to choose which chain to mine, BCC will pick up steam very quickly.
Hash power really matters. The chain grinds to a halt, thus becoming unusable, without enough hash power.
I haven't heard many people excited about Bitcoin Cash, but we'll see how the technology is.
Free money ... not so sure, with the bad repercussion Bitcoin will have to endure because of these stupid people!
Sure, you are right, it would be a waste to keep your bitcoin on exchanges when a fork it's going to happen (or even all the other time)
Coinbase even pronounced openly, that they will not offer the new coins to bitcoin owners.
However what is bitcoin cash?
In my eyes it is only a new shitcoin. There is technically no reason to keep to version of an obsolete first Generation crypto currency.
It might be like etherium classic, which has a quite big market cap with almost no technical advantage but only because it's name is related to etherium.
Therefore I fear something called bitcoin cash could remain a great market cap where it should not (especially for newcomers, who see the price of bitcoin, do not know what bitcoin plus us bur will buy it because it is a little cheaper and they hope for big money)
In my opinion it would be far better if a good 2. Gen coin (maybe Dash or IOTA?!) should gain value in order for businesses to get interested in it and accepting it for daily transactions.
The naming confusion is so problematic
I just love it how you get straight to the point in your videos and also don't waste our time with long introduction or ending.
I think I only saw one or two of your videos with the "see you next time" not cut off.
I think it is just genius ^o^
It's alot of fear or fud in the market, people just need to relax & let this pass
I think some developers of Bitcoin are beginning to see DASH as a real threat to take market share away from Bitcoin. There is no doubt that one or two of the crypto-currencies are going to take the role of fiat cash, allowing small rapid transactions to the mass population. The DASH roadmap has laid out their plan to adopt mass scaling "on blockchain" where every transaction will benefit from the security of the 'proof of work' mining network.
HODLor!!
meep!
Nice Post. i thought since the Segwit is being implemented , fork is not in near future, This is true?
Yep.
https://steemit.com/bitcoin/@cardboard/bitcoin-segwit2x-update-war-incoming