Bitcoin Forum

So I get the whole split thing, why it's happening and what it could entail etc.

I just have a question:

Whats the actual difference between Bitcoin and Bitcoin cash? Will cash have larger blocksize, will it be faster, better upgraded? And will old Bitcoin just be the same slow, 1mb blocksize?

Whats the actual difference here? Bitcoin cash just an altcoin which is faster?

Bitcoin is segwit with 1mb blocksize, the block size could be increased to 2mb in 3 months

Bitcoin cash is 8mb blocksize without segwit, bitcoin cash also has a dynamic difficulty adjustment so that if there is not enough miner support the difficulty will drop so that the chain will remain alive.

Bitcoin is the original version of bitcoin that we’ve used for years. Bitcoin Cash is a proposed fork of the bitcoin blockchain. Supporters of BCC believe that SegWit is attacking some of bitcoin’s fundamental strengths – like its decentralization and democratization. They believe SegWit2x is being led by individuals with ties to shady organizations, and that SegWit2x will be the end of bitcoin as we know it.
Quote from https://bitcoinexchangeguide.com/bcc-vs-btc (https://bitcoinexchangeguide.com/bcc-vs-btc)

The real question is what should be followed to be considered the real BTC? The blockchain with more hashing power or the blockchain thats supported by Core?

More problems incoming after this year.

There is no consideration what is 'the real BTC'.

There is only one BTC: BTC

Everything else forked from BTC is simply an altcoin.

My question is should we fear BCC? I mean would it be the reason for bitcoin's death? Will people dump their bitcoin for bcc? Please clarify thankyou

bitcoin cash will definitely be much slower when they fork. and that is because of the high difficulty of bitcoin. you will end up waiting for at least an hour for your transactions to be confirmed possibly a couple of hours. because they won't find any blocks.

and that will be the start of things.

in the future, if they get more hashrate they can find more blocks but as the price drops less miners will be willing to mine it so it remains low.
and low hashrate can even lead to attacks such as 51% attack because literary anyone with any hashrate can 51% it easily.

this all will last at least a couple of months and all this time bitcoin has SegWit, have been super fast and soon with LN it will have an additional ultra fast method of transacting money and also the price of it will break the $3600 barrier.

True,
People keep asking about who's the real one Bitcoin or Bitcoin Cash ?
Look at the ticker :
Bitcoin         = BTC
Bitcoin Cash  = BCC/BCH
Bitcoin Cash created based on Bitcoin which mean Bitcoin is a genuine item and Bitcoin Cash is a clone.
 No matter what,a clone will never replace the real one.Let see what they did to ETH for example;
Because of hard fork they created ETC,and it's surpassing ETH at this moment ?
 No,because it's created based on ETH chain.

Based on this example we can see,which one is having a more value in the community.
Many people keep shilling about BCC more likely because they're from 'that side' who is always created this drama.
Like they did back year and create another bitcoin such as Bitcoin Core,Bitcoin Unlimited and Other Type of Bitcoin
 

What chain is the real BTC in entirely subjective, no one can force others to call some chain the real BTC and others as fork, right now it's not a problem because majority of users threat current chain (developed by Core) as Bitcoin, so if some minority of users would fork and try to take Bitcoins name, other users will threat those coins as counterfeit. However, if user support of both chains will be close to equal, some or both sides would have to choose another name for their chain, and this process might get very messy and cause confusion for less experienced users. Luckily, this scenario is not realistic as of now.


The chain that we are using now has already been forked many times (https://bitcoin.stackexchange.com/questions/56607/where-can-i-find-a-complete-list-of-bitcoin-forks-soft-hard-intentional-and-u). It's wrong to say that legacy chain is always BTC, it's entirely up to users to adopt or reject chains.

In satoshi's paper he mentions that people vote with their hashing power. So the "real bitcoin" is the one with most hashing power support -> more security -> higher price -> greater adoption

Currently Bitcoin Cash is the chain with minority hash power support

SegWit - a proposed bitcoin scaling solution that removes the signature data from bitcoin transactions which eat up majority of the block size, thus freeing up some space from the block.

Bitcoin Cash - a proposed scaling solution by the miners to increase the block size to 8MB to include more transactions in a block. They don't want to incorporate SegWit in their proposed solution, they just want to include more tx in a block.

Choose your poison.

You are incorrect.  Going by that logic, we would be using the old chain with an overflow bug which allowed people to create unlimited coins.

All non-idiots are accepting that a blockchain doesn't always have to be accepted by Core to be the "real" BTC.  Bitcoin had a consensus model which allows this to happen.  

As for hashing power, it eventually just follows the economy.  If 99% of the economy moved to BCC (unlikely), then eventually it would have at least close to 99% hash rate.  

It's the economy that matters.  Hash power mainly matters if you need consensus for a split (e.g. Bitcoin Unlimited) or are signalling for a solution (SegWit).

This division is causing different opinions, one side supporting the larger block, the other demanding the same. However, I think the larger block will come with poor security risks, so it's not safe to be selected.

very good point. now 100% of hash power is on current chain and signalling for current chain. BCC has rogue hash power on it which is so tiny.

last time i checked it was only ViaBTC supporting it and they already have a small hash power on bitcoin, they are selling some cloudmining but it seems more like ponzi than real thing.

ps. the funny part is BCC keeps repeating "satoshi's vision" :D

There is always a fear that BCC could be the one. But I doubt that it will cause bitcoin's dead. And I don't think that people who have been into bitcoin for long, would suddenly dumped it for the alt-coin (BCC). There is nothing like the original and BCC is simple a clone. Bitcoin will still survived this battle and I speculate that it will remain strong. On the contrary, BCC will just fade away because the consensus of people here are pro-bitcoin. Yes, its a free bitcoin if the split happens, so I'm expecting that people will quickly get rid of this altcoin and stick with bitcoin.

So this BitcoinCash (BCC/BCH) thing is only an altcoin?

So, whichever gain more popularity will be the major coin or not?
But, bitcoin will always be mother of all coins, right?

In any case, we will be owning both Bitcoin and Bitcoin Cash. So even in the unlikely scenario of Bitcoin Cash replacing Bitcoin (proper) as the no.1 crypto-currency, I don't think that there is anything to worry. Other than the block size, there is hardly any difference between Bitcoin and Bitcoin Cash. But make sure that you are claiming BCC on August 1. 

No, we should not.
There's no reason for the BCC makes Bitcoin dead.
Actually, you're literally earning Bitcoin cash/BCC while holding Bitcoin itself, you will automatically receive the equivalent amount in BCC when you holding bitcoin on Aug 1, it just like full airdrop without mining and ico,ok let's be real BCC is a clone and everything are clones is hard to replace the original one, so will people sell their bitcoin and buy BCC? one thing that i know people will sell their BCC once the coin is tradeable.

BTC and BCC are two possible forks for the bitcoin blockchain this coming Segwit on the 1st of August. Bitcoin (BTC) is the bitcoin we’ve known and loved for years. Bitcoin Cash (BCC), on the other hand, is a proposed hard fork that claims to be closer to Satoshi’s original vision for the currency. The big difference totally right here is that BCC will be possibly worth of a penny rather than the price of BTC we know for years and its current price right now. And the question that remains right now until August 1 is does BCC will be a valid crypto currency? So that's the very big difference right there mate.

I don't believe in the division after August 1. However, if this happens the user will choose the coins that will be more user-friendly and the second coin will very quickly cease to exist. Why do whales and miners? I'm sure they will agree and nothing will happen.

The Bitcoin we know was moving with 1mb block size, but now, the Bitcoin cash is 8mb.

I am sure as time goes on, the BTC will grow from 1mb to 3-4mb, but BCC which is already 8mb...hmm...this might make it take the lead over BTC.

Well, the main difference here will be the block size between them.

Bitcoin is likely to be divided into two separate currencies, Bitcoin and Bitcoincash. Chances are many people only accept the original Bitcoin rather than bitcoincash

Bitcoin cash is nothing compare to bitcoin because if you will look at its price you can see that the price of bitcoin cash is very far from the price of bitcoin and it is just like a shitcoin for the market because it has nothing to do with bitcoin who already built great and strong fundamentals.

No unless the Bitcoiner whales are thinking of supporting BCC and will dump their BTC in the market. But we know they will not and cannot do it. Deep inside they know their interests are still tied with BTC.

the price of the bitcoin is growing very fast but today a lot of people are still saying that the fiat currency is better than bitcoin I would like to say that bitcoin is not for those who do not like it but for those who want to make money from their own bitcoins bitcoin is better than cash it is more convenient and easy to use.

Damn posts like this are proving why this entire event with BCC is just preying on people who don't know what's going on.

BCC is Bitcoin 'classic", meaning that it is Bitcoin as it is now, just with a new name. They change none of the code, it stays the same and is accessible from private keys containing Bitcoin during the time of the fork iirc. BTC or Bitcoin is the fork with a larger blocksize and the effects of SegWit. BCC is just a weak clone being used to exploit those who either don't understand the fork or is trying to prey on people who just "don't wanna" fork over with the rest of the community and remain belligerent.

That's like asking, "if a woman gives births to twin daughters, which one is considered to be her real daughter?"

They're both real. They're both chains born of the old chain. We're just deciding what to name them so we know which one we're talking about.

Yeah. So, who's side are you on?

The part that I am not quite grasping is where the start price of bitcoin cash will be if it makes it?   I get that they share the blockchain up until the split, and my understanding is that if you moved all of your bitcoins to a hardware wallet, then you would have the equivalent of bitcoin and bitcoin cash at the starting point of bitcoin cash correct?

But if the blockchain splits off at the price of bitcoin being like $2800 let's say (I just threw that number out there), then what would be the starting price of bitcoin cash?  Or how would that even be determined?   If it started off at $300...would it make bitcoin therefore be worth $2500 per btc?

Bitcoin Cash is a token which may appear after hard fork's activation (UAHF).
Bitcoin Cash is not so different from BTC, not taking into account such issues as the implementation of Segregated Witness (Segwit) and the function Replace-by-Fee (RBF). But the most significant differences between BTC and BCC will be three new additions to the code base of bitcoin, which include:
- Increased size of the block's limit. Bitcoin Cash provides an immediate increase of the block's size limit to 8 MB.
- Protection from destruction and re-transmit messages. If the two chains will continue, the system Bitcoin Cash minimizes the risk of the user and ensure a safe and peaceful coexistence of the two circuits with protection against re-play and erasing.
- A new type of transaction. In the technology of protection against reuse Bitcoin Cash introduces a new type of transaction with additional benefits, such as the signing of the entrances to improve security for hardware wallets and removal problems quadratic hashing.

I prefer original bitcoin always. I always loved practical solution. Bitcoin cash isn't solving problem. It is gonna create nore other problems. So original bitcoin with segwit is way to go.

The planned hardfork is an expression of a lack of compromise between proponents of different ways to increase network bandwidth. In this situation, two "competing" crypto will be created: BTC, Bitcoin and BCC - Bitcoin Cash. The most important BCC technical assumptions are to increase the block size limit to 8 MB, and reject the Segregated Witness idea, which, according to BCC supporters, unnecessarily complicates the network protocol.

Meaningfully post i think community already decided after pointing all rig to the original real bitcoin (BTC) , cloned one (BCC/BCH) hyped now because of its free reward after that all done .

To divide bitcoin, it was a very bad decision. Probably one of these coins will die. To be safe, users can temporarily turn on both coins and this will reduce the price. I'm sorry that ambition is not allowed to reach consensus.

So rightly said. BCC is just another shitcoin which will be first pumper to about 1000 USD and when noobs start fomo buying them whales will dump it

I like statement above, "everything else forked from BTC is simply an altcoin". If we look backward of what happened with ETH, the fork is made because The Dao accident and it is really different with what just happened between BTC and BCC/BCH

Guys, advise what to do with those Bitcoin which are already on the wallet? I'm worried about their retention after what happened to this fork. And the bifurcation does not bother me and I probably do not know correctly whether I perceive them or not. Reality would be better to invest all Bitcoin, In an alternative currency, it is possible to buy out very good tokens with huge potential. I think that this is how I could protect myself and my fortune.