Bitcoin Forum

According to CNBC news "Bitcoin falls, new 'bitcoin cash' briefly leaps nearly 50% then dives as digital currency splits"
Should non supporters of the split start worrying about the future of the Bitcoin?
Given the circumstances of an upgrade from 1MB to 8MB block size, will Bitcoin Cash totally overpower Bitcoin in the future? Let your thoughts be heard.

We don't know for sure the developments in the coming days, months and even years. For now. Bitcoin Cash (BCH) is still considered as an altcoin to Bitcoin and whether this new coin is the one that can topple the real Bitcoin...we will see on that. As of now, it is still the real Bitcoin that is the reigning king of cryptocurrency.

This all boils down to support and usage. If holders and users of Bitcoin will shift to BCH on a massive scale then maybe that can be the sign that BCH is already the new Bitcoin. Personally, I am seeing that the two coins can live alongside each other peacefully as there is nothing wrong when we possess both of them.

As they say, the more the merrier and this is quite true in cryptocurrency.

Yes. Very well said.  :)
But I really wonder why they have to split though just to upgrade the Bitcoin blockchain (a decade old)  transaction speed. Is it really about the transactions or about the who's idea to follow?
Hopefully Bitcoin will still be the reigning king of cryptocurrency in the years to come.

so far you can only consider it an alt coin , but no one can tell the future
I guess bitcoin with Segwit is better than bitcoin cash , but I'm not a good trader nor a good tech guy
and since I suck at these I'm considering leaving both my btc and bch without trading them , but not sure how things will go

Me neither. I don't do much trading right now because the prices are so volatile. But who knows, just storing bitcoins could earn us a fortune in the future.
So how do you earn Bitcoins anyway? Through buying or visiting faucets?

There are a few ways to earn bitcoin but really buying is the only real way.  Faucets only give you around 70-100 satoshis per drip so nothing really.  If you have a trade or skill, you could sell it for BTC.  However... working your ass off for fiat and then transferring it to BTC is really the only way.

The split happened because there is a group of miners who did not go along with the decision of the majority and so they got their own coin and that is the birth of Bitcoin Cash (BCH). Right now, BCH is gaining some grounds as there are now additional exchanges that are announcing their support for BCH. In this case, exchanges can be supporting both the original and real Bitcoin as well this new altcoin BCH. The two then can live without any problem except if Bitcoin holders would be dumping their Bitcoin to buy Bitcoin Cash but I don't see that coming soon. I am happy though that I also got my little share of BCH in Bittrex.

Just like different Linux distributions, they serve different purposes. The only difference in the analogy is that to create a new Linux bistro, you'd have to preinstall it in the previous suer base. And then they'd have to delete it. SO the analogy breaks, but the point is that to be fair, everyone is awarded 1:1 a stake in the complementary coin. But the most typical reaction of those that could hold it would be "delete it" (sell at vile prices).

Exchange wallets are closed. This means the all trade is limited to whatever was converted in the Exchange - a tiny portion of all BCC in the market. This scarcity of BCC is dangerous to those that are forming an opinion but do not understand this, which is why I bring it up.

Yes, but some wallets will resume transfers once the system is stable. The number of BCC (limit) is yet to be known. All we can do is wait.

It may be a true prediction but we can only wait for the right time. As of now, those who have received BCH as free are dumping them because they are instant money. We will know how much demand will be there by the time BCH is already cheap.

It will NEVER EVER take over Bitcoin, at least that s my opinion. It brings absolutely nothing new now when SegWit is about to be locked.

However, I must say a free money is something I did not refuse so thx BCC.

I agree with you. But unfortunately for me, my wallet provider is not supporting the Bitcoin Cash. No free Bitcoin Cash for coins.ph users.

Don't worry, even those who received free bcc can't do anything with it right now.
But it is still very interesting how fast bcc will fall in price these first days after it will be available to sell  :)

If you really want to have a Bitcoin Cash, you must have transferred you bitcoins into another wallet that nake you manage your own private key like MyCelium and Electrum.

Me myself is a user of coins.ph, I use it because I can move my coins to another wallet without fee as long as it is the same. But reading their announcement about not supporting the fork, I immediately sent my coins to Electrum. Right now I am holding my BTC and the same number of BCC.

How to check if an bitcoin wallet address has bch in it?

Thanks for the information, I haven't heard of those wallets before. Will give it a try on of this days when we can see where the Bitcoin Cash is going.  8)

No free money for the coin.ph users too. My guess those want to buy bitcoin as fast as possible before the hardfork just interested to earn the bitcoin cash for free. But looks majority of the western exchange already supported it.

If bitcoin cash will totally overpower bitcoin, I think it will not. Bitcoin is a crypto currency we used in the internet to buy, sell, and invest. Even without bitcoin cash before we use bitcoin properly. I think bitcoin cash is just like a cash we usually holds and bitcoin is the coin. I think both crypto currency will have each value but won't overpower each.

I think bitcoin cash will not overpower bitcoin because even bitcoin falls it will raise again. Also, the newly develop crypto currency, bitcoin cash, also drop from $400 to $300. Also, bitcoin cash is vulnerable to "ruinous legal trouble". I think bitcoin cash is just a bitcoin's cash and the bitcoin is the coin so I think it won't overpower bitcoin instead it will have a nice relationship with each other.

Is anyone able to sell their free bcc yet?

I don't think so. ViaBTC doesn't honor BTC withdrawals, and Bittrex seems to have problems with BCH deposits.

How Coinmarketcap can report $279k volume I do not understand. Where is that trading done?

For me that's a non sense speculations here and all they wanted really is to threaten people to sell their assets, but those who spread that rumors around; better luck to them but they don't get what they wanted to take down bitcoin price. In fact the price effects from those days after the said August 1 really raging now and this will gain an abropt prise increase as people were agressively demanded to buy bitcoin digital currency this time.

If that so then I would certainly agree on you. I hear many negative thoughgts about it already and it irritates people's day when they open their phone and checking emails,blogs,twitters and the like. Actually they have no proofs yet when August 1st came. It only worsen the idea and the management of people's time when they only think it's a trashtalk. As long as bitcoin is there, let's keep trading,holding and selling btc who know's one day it will go back to its normal case.

BCH is a way to extend the total supply of bitcoin and that is a good solution for both and I think the bitcoin cash was born only to support the bitcoin price.

If you have access to the private keys of your wallet, then you can claim your Bitcoin Cash - the same amount of coins prior to the split. Just follow the steps mentioned here to claim your BCC:
https://bitcointalk.org/index.php?topic=2059111.0

We can never say what will happen to the future of btc upon the arrival of the bcc which splits up the number of btcs'. According to some source, bcc price is approximately $600, almost one fourth of bitcoin's original price which approximately $2700 as of this time. This clearly shows that bitcoin stays stable on its state.

Most of exchanges considered bitcoin cash as altcoin ,also users considered it as free money and if you noticed most of them dump it for bitcoin, so no worry about bitcoin.

I do not think that Bcc will Overpower Btc in future. Bcc dev team is small and depend only on one member who is skilled. Market is unpredictable so we will see

For what changes are done i believe that it has a good reason they have plan for why they do that. Waiting for what will happen it would be help. Stop worrying for what will happen.

Hello,
                                                 
Anyone knows if there is an exchange with open wallet for Bitcoin Cash?  Any news when it will occur?

Ok, already found HitBTC is with working wallet...

Just check the prices, around 0,05 BTC

Looks like when all exchanges open, big drop will happen

Bull shit,nobody mine bcc,you cant transfer bcc,bcc was done for speculation only

Bitcoin far superior than bitcoin cash currently. I don't know who is gonna support this bch at all. Maybe it was only done for crypto speculation. It was just "getting free coins" for lot of people.

What is the difference between bitcoin in bitcoin cash? And what is the effect of bitcoin on bitcoin cash?

No kidding. I got desperate to find a working exchange when the price closed in on 0.30. But hey, free money, right? One shouldn't be too greedy.

Have you tried withdrawing BTC? Did it work? It seems some people tried ViaBTC but they doesn't seem to honor withdrawals right now.

I can't seem to find the exchange rates. Is it the one trading as BCC? I thought everyone had settled on BCH as the ticker.

Surprise: A new Altcoin won't easily beat Bitcoin. Stop the press!

Can not you pass this wave to not risk your coins? It seems to me that the fall is still not over, but at the same time, everyone understands that their growth will be very fast. Perhaps already at the end of the year we will see new highs on the stock exchange.

This is 2 different coins from the hard fork results, bitcoin cash was born August 1st or 2 days ago, of course the oldest is bitcoin while bitcoin cash is half brother, I think the effect is the same, now all the wallet there are 2 choices of bitcoin or bitcoin cash.

Sure, but I suspect 0.30 will look like a great deal even then. That's ten times the value of LTC, which actually has use. So far this amounts to one pool's own token, and looking at the hash rate it doesn't seem like they will want to prop it up for long.

Even in the unlikely case the exchange rate doubled that seems like a high risk moderate reward scenario.

That's why many similar topic like this create by newbie with comparing nonsense, it could be somehow to make issuing panic sell and coming another discount day :D
1 August is done, nothing hard happened, everything controlled as well.
But maybe for some people seeking bitcoins stable price is not good enough.

still need to see what's going on with BCC, 5 hours without a block is not fun.

Bitcoin is a digital currency that is not tied to a bank and also allow user to spend anonymously while a Bitcoin cash is an alternative version of bitcoin, it is a seperate block chain that bumps up the block size up to 8mb and also Bitcoin cash is another forked off bitcoin. Bitcoin cash is also a peer to peer electronic cash for the net with no trusted third parties to operate.

right now BCC is just an altcoin , bitcoin with segwit is the best than BCC , and i think it will never last for long here , even tho it has greater and bigger value than bitcoin , and im always on bitcoin , bcc is not yet trusted

This is very hot topic today. I saw the two separate Bitcoin & Bitcoin Cash in the coin market today.
Amazing! After the split, it double the number of your bitcoins. So blessed Bitcoin holders!
We also have many questions about that two. We are waiting for local translations for us to understand fully the explainations between the two separate coins.

At the moment, Bitcoin cash is worse off than Bitcoin. There are many factors for this. First of all, Bitcoin is the pioneer of cryptocurrencies and is highly established. Moreover, unlike Bitcoin cash, Bitcoin can actually be used by people. In other words, it is not an altcoin like Bitcoin Cash. Yeah, the name is misleading - “Cash”. It’s is not really a currency.

Moreover, if you look at a list of cryptocurrency market caps, you can see that Bitcoin Cash is not doing very well. https://coinmarketcap.com/
It fell sharply and such a rate is continuing. I suspect that it will soon be below Litecoin too. And if that happens, well its generalisation as an altcoin would be an accurate one.

I've been seeing a lot of misconceptions about both Bitcoin Core and Bitcoin Cash, so I'd like to explain the differences in the most unbiased way I possibly can to help those out who don't quite understand:

Bitcoin Cash was forked from Bitcoin Core because it's developers disagreed with the upcoming addition of Segregated Witness 2x (SegWit2x). There are many concerns regarding SegWit2x, including signatures are separated, transactions are taken off the chain, etc. However, the biggest concern with SegWit is that it has changed Bitcoin's direction. Instead of Bitcoin on the track to becoming an everyday currency, SegWit puts it on a track to become a sort of 'settlement layer'. This means that Bitcoin Core could end up being primarily used to settle net transfers between banks. Many people oppose this, hence the creation of Bitcoin Cash, which tries to stick with the path set by Satoshi's original vision.

However, the bigger picture as to why many feel that a fork is necessary is because of Blockstream's influence over the Bitcoin Core development team, which has lead to mass censorship and a smaller voice of the community. 

Bitcoin Cash does, of course, have plenty of problems as well. The lack of mining support by bigger bitcoin mining companies means that it currently has a vulnerable infrastructure, although this could easily change in the future. What doesn't look like it will change any time soon, however, will be how Bitcoin Cash is more vulnerable to a malleability attack. SegWit removes the malleability of transactions, giving Bitcoin Core an edge. However, at the end of the day, malleability attacks affect a small amount of individuals, and are more of a nuisance than a very serious vulnerability.

I did say that I would be as unbiased as possible, however, you could probably tell from this post that I lean towards Bitcoin Cash a bit more than I do Bitcoin Core.

Can we please stop this endless stream of bullshit? Segwit didn't turn Litecoin into a settlement layer and it won't turn Bitcoin into one either.

Instead of cut and pasting nonsense, why not spend a few hours to learn how it works instead? The word "segregated" comes from the change of an underlying data structure, which is done to the data that make sense to include in the transaction hash is actually included in it. It does absolutely nothing to turn Bitcoin into a settlement layer, nor does it make the signatures disappear, nor does it do any of the other crazy stuff people show up out of nowhere to suggest.

But that name alone seems to act as a magnet for people with more opinions than clues. Next time, let somebody else pick a name, ok..?

Agree! Good point! Bitcoin is to be the reigning king of cryptocurrency!