Bitcoin Forum

On August 1, 2017, the so-called "major" Bitcoin community agreed to vote for a hard fork on the Bitcoin blockchain. A hard fork is a "permanent divergence" in the blockchain. Because of the hard fork, we have now Bitcoin Cash — a so-called "new" cryptocurrency variation of Bitcoin still mined through the "exploitation" of Satoshi Nakamoto's Bitcoin Core blockchain but with new blockchain mining rules. As you all might know already, the original blockchain is Bitcoin Core — the original client software for Bitcoin invented by Satoshi Nakamoto in 2009. As an open-source software, Bitcoin Core already experienced several software forks in the past namely: Bitcoin Unlimited, Bitcoin XT, and Bitcoin Classic. Nevertheless, these forks respectfully maintained their honor to the developer of Bitcoin, Satoshi Nakamoto, by still calling their mined Bitcoins from their updated blockchain software as "Bitcoin" with the same currency abbreviation "XBT/BTC".

However, Bitcoin Cash is different. Eventhough Bitcoin Cash is being considered as a "new" cryptocurrency, it is still being mined from the same Bitcoin Core blockchain but it uses a new alternative "node" called Bitcoin ABC that the miners set up - all Bitcoins mined and uses the Bitcoin alternative "node" Bitcoin ABC will technically be Bitcoin Cash. It was also agreed upon during the hard fork that Bitcoin Cash will have its own currency abbreviation "BCC/BCH" with its own conversion value to physical currencies.

Are you in favor that "Bitcoin Cash" should be considered as a "new" cryptocurrency with it's own currency abbreviation "BCC/BCH" eventhough it is just the same token mined from a forked original Bitcoin Core blockchain?

We believe it should never even exist. Hating all this melodrama that happened just due to the miners who were still unable to keep their words of a hard fork and just had a currency split here to satisfy their own ego. Seems none other than ViaBTC is currently interested in mining BCC but nobody knows about the future and I am waiting hard to see their promised 8 MB block they said that their clients will be performing such.