Bitcoin Forum

"BITCOIN CASH IS BITCOIN NOW."

Issued by Li Ang, head of China-based bitcoin mining outfit Canoe Pool, the proclamation may not be distinguishable from typical cryptocurrency banter. However, the difference this time around is the context.

No idle statement, Ang's comment comes amid what can only be characterized as one of the biggest migrations of capital yet seen in the nascent asset class. Billions are on the move in the crypto markets, and it's plainly observable where the funds are headed.

After hitting a record high above $800 on Friday, the price of bitcoin cash, the alternative cryptocurrency forked from the bitcoin blockchain in August, has doubled within 24 hours, hitting a high of $1,856 according to figures from data firm CoinMarketCap. At that price, bitcoin cash is now valued at more than $30 billion, passing ethereum for second-place standing in the market.

The move follows the sudden decision this week by a group of businesses and mining pools to suspend an effort to change the rules of the bitcoin software. Called Segwit2x, or simply '2x' by some, the effort would have increased bitcoin's block size – one way by which its transaction capacity can be measured.

But while bitcoin's developers and technologists lauded the move, miners and entrepreneurs lamented what they described to CoinDesk as a decision that would inspire others to migrate to blockchains more accommodating to their ideas and ideals. And if it was unclear at the time which alternatives would benefit, bitcoin cash is already proving the primary beneficiary.

Early and active in migrating support appears to be bitcoin's miners.

According to data from Fork.lol, at roughly 4:30 UTC on Sunday the total amount of mining power backing the bitcoin cash blockchain surpassed that of the bitcoin blockchain.

No. It's not. It's Bitcoin Cash.

OP please put this in the news section next time.
And link the source!
You could have at least mentioned that this is a article from coindesk!

Bitcoin Cash is going back to the $500 level because this was nothing but a pump and dump. Of course Bitcoin Cash is an awesome coin to make money because the guys behind it have a lot of money to pump it so you guys just have to be smart and ride these pumps on Bitcoin Cash. Wait for the bottom and buy it again for the next pump.

Let's see what will happen in 7 hours time when BCH adjusts its difficulty and BTC become 2x more profitable to mine, will the miners follow the money and will the price follow hash power? The BCH dump will probably happen before that.

I don't understand why people are so negative about BTH.

Everyone got the same amount when it split.
Transactions are quicker and cheaper.

What's the fuss. I think the only people moaning are the ones that sold up and now regret it.

BITCOIN CASH is bitcoin trash
Totally organic growth. Not coincidence at all this happens during the weekend.

Its too early to say this. Yes BCH has some tremendous platform improvements and its value has gained some momentum after the cancellation of fork but we have most of the core miners still attached to bitcoin can't say that bch will become the new bitcoin anytime soon.

It is still too early to say this but 70% of experts predict that BCH may be the second BTC in the future and many new features will be well developed. If this happens then we will have a look better on the BCH in the future

Bitcoin Cash has several advantages, however, its still a spin-off. So I think BTC will keep the first position.

It`s just pump

But so was etheruim and look what happened there.

It seems to be going that way and it works better than btc so why not?

Everyone who joined after August 1st, which is probably now hundreds of thousands of people, will have their money erased.

If you don't think that's a problem, both for them and the perception of Bitcoin and all crypto, then it's time for you to go into the wilderness and find your spirit animal before it's too late.

LOL, let's compare BTC and BCH infrastructure, eco-system and history :

How many merchands are using BCH ?
How year old is BCH ?
How many ICO are lauched using BCH ?
How many Exchanger are handling BCH ?
How many BCH wallets ?
How many BCH websites ?
How many BCH apps ?

Just cool down, cowboy: your time may come but not today !

what do you mean?  please explain. 

Where did you get this golden shit? we need to be alert, coz it might be true as btc unconfirmed transaction is keep on growing!

You had to own Bitcoin on August 1st and have control over the private keys, or be with a service that credited you, to get Bitcoin Cash.

Bitcoin Cash fans seem to think no one loses if Bitcoin Cash destroys Bitcoin because everyone has equal amounts of BCH and BTC. This seems to give them the moral justification to go forward in setting everything on fire.

Anyone who came along after August 1st has no free BCH and more than likely won't understand why their Bitcoin is dwindling to nothing. Reflect on what they themselves will feel and how the media and the rest of the world is going to regard how that looks from the outside.

I think the main reason why Li Ang said that because he mined Bitcoin Cash instead of Bitcoin...

In less that 5 hours, the BCH difficulty will increase to 400%. Let's see what miners are going to do  ;D

In the end its all about the money but bitcoin is holding its resistance standing strong against the miners and there goons of greed.

someone  needs to pump btc up now so they can lose out and they would had made nothing from it

I agree with comments above - if BTC will be/would be compromised then cryto world would be gone. Just imagine what would be reaction of the workd? Who would trust crypto currency after such things happend? After 1st of August as been said, many people joined cryptos, and mostly BTC. That means they would loose their money and if so many people loose their money then that would be The End of crypto world. Nobody else again would trust any crypto coin. It would be just some "coins" between narrows circle of people who joined till 1st August cryptos.

Simple.

Poor bitcoin, even by a fork of its own accidental product, an altocin to make it very embarrassing, really a joke.You can see how greedy and excessive financiers are!

I think not yet. Bitcoin cannot be replaced by any Altcoin out there no matter how high the value is.
Bitcoin Cash have its own network and investors are joining Bitcoin Cash to go with the flow. If panic selling will continue then Bitcoin Cash would be the next coin for every investor but I do believe that Bitcoin can sustain this kind of circumstance.

understood.  but even coming after august 1st you can just buy both BTC and BCH and hold.  but I do suppose many people getting in now might not have any idea about what's occurred with the different forks.

Definitely not bitcoin cash is bitcoin cash they are different from bitcoin. Yes bitcoin cannot replace by bitcoin cash, bitcoin cash is temporary of the current price now. It will eventually be in dump mode so still bitcoin is still on top other than cryptocurrency.

I don't think that bitcoin cash is the bitcoin right now because bitcoin cash is bitcoin crash, it will crash and bitcoin will go up again. Bitcoin cash is just a hype and the real bubble and not bitcoin. Bitcoin is just giving opportunities for the other people to buy some cheaper bitcoin and to get into a good investment and remember that bitcoin cash is a free coin so it is a very risky move to go into bitcoin cash.

can we have a list of these "70% of experts"?

I believe some whales are just playing some games with BCH and soon it will go dip again probably more than before.

Actually I don't understand this Bitcoin Cash pump. This currency is a newbie on the market and there is no place which would be accept it as payment. Everybody are moving bitcoin's adoption and acceptance, Etherum is the next one by acceptance. But Bitcoin Cash?!  It has nothing with Bitcoin so why people would invest in it? I don't understand.

Regarding that graph on fork.lol, I've watched it most of the day and the hashing power slowly continues to move towards BTH. Not much time until it touches 2x BTC.

We'll find out whether they are mining purely for profit, or if they're backing bitcoincash for ideological reasons.

Yeah, ideological, sure.  ;D

There were intraday trades to be made at about 30% proffit, two or three times. Some savvy traders doubled their holdings in a single day. I'm not one of them, tho'  :'(

whether happen tomorrow? . it is not easy to accept bch is a btc, btc is a bch, can you talk algoritma bch here , go between algoritma btc and bch ? or nakamoto talk "bch" in whitepaper btc .

Please DON'T put it in the main bitcoin news section since it is about an alt-coin and doesn't belong there.

If you love centralized control by miners under the thumb of a authoritarian regime, go for bitcoin cash.

Bullshit!

This is mere a shit spread by bitmain, just to panic people into selling bitcoin and pumping their BCH. Bitcoin has build up a trust among people. Large financial banks and companies are getting into it. I recently had a survey about the popularity of BCH against BTC. The vote share was 20%-80%. Right now I don't see any altcoin taking place of BTC. It might happen in some coming years. But that won't be BCH which split off from Bitcoin itself but some other altcoin.

Bitcoin is just a pump and dump coin. I wont be surprise once it suddenly go back to its low price in few hours. Bitcoin will definitely remain on top, and i think BCH would have to take more time to replace bitcoin's place. It might be promising and its demand is increasing but still need more big investors to become more stable. For now, what is good to do is to just play with the pump and dump situation of BCH, afterall bitcoin cash may also offer good and promising ptofit in the future.

BCH will decrease after the whale achieve adequate profitability. it can not replace Bitcoin now
No one can pump up Bitcoin. we need to hold the Bitcoin, not follow the trend of exchange Bitcoin into BCH