Bitcoin Forum

Hello,

Since the fork we have a new coin very similar to bitcoin , do you think it is a threat to bitcoin?
Now I have those bitcoin cash and i don't know what to do with them.

I don't have the technic gear to choose between both, and I feel bitcoin cash is taking bitcoin down am I right? It's taking a part of its market capitalization.

This topic has been discussed so many times, first of all its not even similar it's an alt, it's just stolen Bitcoin name and there is nothing else in it. I don't find it strong enough to take down Bitcoins, it will fade away very soon, i dont know about the prices but if you are getting a good price just sell it off, I don't think it's worth to keep it.

Bitcoin Cash is just taking advantage of name of bitcoin and even though i currently see it as a threat now, the status quo is going to eventually change when miners find that its no longer profitable and when that happens, they are going to eventually abandon it.

I don't think that Bitcoin Cash will be able to take down bitcoin. You can see it by how the people treat this alternative coin. Even it takes a lot of years, Bitcoin Cash will just be under many other altcoins and not even under Bitcoin.

i don't think it is exactly a "threat" to bitcoin but bitcoin cash is and will continue to be the source of a lot of issues for bitcoin for a long time to come. we saw one effect of it recently with what they did with the miners and how they gave up mining bitcoin for a short time and caused a part of this huge back log of unconfirmed transactions.

Well this is a given since they are aiming for the miners. They made their "original" bitcoin based on Satoshi's and make it easier to mine making miners attracted to it. I guess they are really desperate to make their "Bitcoin" original though it won't happen. Many more issues will come relating this alt coin but I don't think it will interfere people to use bitcoin.

It's just another altcoin.  An expensive one, sure, but just an altcoin.  It was a welcome altcoin for those who had significant amount of BTC when they took the snapshot to create BCH 1:1.  Free money is always awesome.

I dont think that bitcoin cash is taking bitcoin core down, i think that bitcoin cash can be the future of bitcoin core, and maybe we need to invest on them
If you have some bitcoin cash i can recommend to wait a little time, because the price can grow up, and after that you can sell it for a good price

As far as I know it is quite like Bitcoin, it just has a simple increase in block size that Bitcoin will have in 3 months just not that big of a increase.

I doubt that Bitcoin Cash will be a threat to Bitcoin, not to mention that they can also coexist as well, because Bitcoin already has a bigger support and if they won't to take it away, they will need to improve something. Since the support is also by developers, that makes it unlikely. Bitcoin already has segwit activated so it is kind of technologically more developed.

There is simply more improvement done on Bitcoin, which makes it more popular, which makes it get even more improvement. It is hard to take over the first spot, the new coin will have to be a lot better to do so.

Granted bitcoin cash started as an attack on bitcoin, and also seeing that how all these shills of bitcoin cash are constantly attacking bitcoin on this forum with all their FUD, and on top of all that as we can see Antpool is pulling weird stuff these days with the blocks they mine and all the other things... i can say yeah bitcoin cash IS a threat for bitcoin.

Come on now. What do you mean "it's not similar"? It's a fork of bitcoin so it uses a past version of bitcoin's code. How the hell is it "not even similar"? Also, it's actually disrupting bitcoin(BTC) in a way, as miners are moving back and forth between Bitcoin(BTC) and Bitcoin Cash(BCC/BCH), slowing down the blocks that are being mined on BTC's side. I'm personally neutral in the scaling debate, but like it or not, these are facts.

Please do your research before speaking, for the sake of our readers here. Thank you.

I wouldn't say so, thier market volume is nowhere near as large as that of bitcoins and its not rising as fast as some of the other altcoins. I think it could work alongside bitcoins, but I don't think its a threat to bitcoins itself. Not to mention that bitcoins are simply more well known.

BitcoinCash will live under the rock as every other altcoin is living right now. I think this has been discussed widely and we all know that no altcoin can be a threat to Bitcoin's popularity and adaptation.

Did you just copy part of my reply? :D Glad to see that you agree, but a simple "Yes, I agree" would do it, but ok.

The real reason it's a threat is because it is a sha-256 coin. Whereas most alts are scrypt coins or POS coins.

There was no way ASIC miners could switch to mining say litecoin or ethereum. But it's easy for them to switch to mining bitcoincash.

Bitcoincash can cope with the swings in difficulty and the way the blocks go from long intervals between them to short ones, because the big blocks mean they eat up the mempool very quickly. Bitcoin hasn't got that ability.

Dont hesitate just stick on the things you do when bch isnt still there yet and thats the thing im doing right now. Bch is good for making money but regarding on long term usage and investment i would always go for bitcoin and no one could really able to beat the original bitcoin even on its clone.

It's never going to be a threat. It is definitely beginning to be a nuisance. A lot of miners switched to BCC so transactions in BTC got slower. A lot of people neglected and just dumped their BCC. Without any substantial support, BCC will not be a threat to BTC and will remain a regular altcoin.

Both are POW so this depends on miners. If miners switch to BCC then yes this will be a threat for bitcoin.
Miners will switch to bcc when its more profitable. so all depends on markets ask-demand ratio for both.

I agree with this guy

Is it?

Bitcoin is growing no matter what since the inception of Bitcoin Cash. Demand is still too high. There is indeed and increase transaction fees and time. But in spite of that it is continuously in uptrend. There might be the shift of miners to Bitcoin cash recently but that would stay until the difficulty increase. Bitcoin Cash has its own market quite independent of Bitcoin. Till now it is striving on pumps. It is still quite early to comment on its future. But Bitcoin is something that wouldn't have any effect from any altcoin.

This is just a wind blow then for bitcoin, I think BCC is not an obstacle to BTC

I think it is difficult to compete with btc that is very popular in all people.

If bcc describes the latest invoices it might be a bit of an effect for bitcoin, but I think if it happens bitcoin will renew innovation innovation and make investors more interested.

Again and again the same discussion. Talking about its similarity, now way similar these both are. Bitcoin is being used by its users since it was created. The features of bitcoin are unmatchable. Fakes will remain fake whatever happens. They way, bitcoin came into everyone’s life and it took the online trading by storm, it is unbelievable that any other online currency will take its place. In my opinion, there is much to happen. So stay calm, and wait for the higher prices of bitcoin.

it is not a treat to bitcoin.
an altcoin still cannot overcome a main coin.
there is no soon for BCH i think.. he well be gone in some years in my opinion.

It has nothing to against bitcoin, trust me. They just forked it for price manipulation reasons. Noboy wanted that bitcoincash trash in the community. Even the current price is way too high and people will dump hard on bcc buyers after they get their bcc from btc wallets.

check the markets. volume is tiny for it. the developers are not competent. it's gonna be screwed with by miners until it's a laughing stock. whatever chance it had is gone for now. maybe they can pull it back but releasing it with such a gaping issue as the eda thing means i'll never trust any real money to them.

No, more altcoins are being made and getting better.  If they start topping Bitcoin in value, I think Bitcoin will become more valuable to.  It's all based off of Bitcoin anyway which is more known as a name and already integrated in stuff.  I think it would take a very long time for Bitcoin to simply die or be replaced all together.  But by that time you'd know enough to own the alternate currencies replacing it.

I've heard this topic several times. It should be made clear that BCH in this case is a new altcoin and just came out. what you think so you issue a statement that BCH is a threat to Bitcoin. You must have a clear basis for making a statement. and you must also know that now bitcoin is King. so it is unlikely that BCH is a threat to Bitcoin.

I think bitcoin cash will never compete with bitcoin because bitcoin cash is just a bitcoin shard. And maybe bitcoin cash will not last long, the price is now quite high but I am not optimistic that bitcoin cash will last long

Right now bitcoin cash is better as a currency than BTC - with btc you cant transfer money in a timely manner for a reasonable cheap...what good is a currency that cant do that? I hope BCH can keep growing and pose a threat to bitcoin, atleast to make it better down the road.

BCC is just an altcoin which was created by hard fork when trying to create a clone of bitcoin.Since it was created by hard fork of bitcoin,only for that reason,it has that much huge market cap.It has no special features or promising factors to deliver.Its still alive due to support of some miners who find it easy to mine and some big whales who find it easy to pump and dump BCC for some extra cash.We exactly don't know that when it would crash.So,better sell it for bitcoins just like most people do and hold your bitcoins for huge benefits.

Why Bitcoin cash a threat for Bitcoin?It will never be able to get the equivalent of Bitcoin.

There are many coins very similar to Bitcoin; most altcoins are just forks of Bitcoin. Most don't copy the UTXO set as BCH did. It could be taking part of BTC's market capitalization; after all, if people are buying BCH (and they seem to be, as there is considerable volume), that's less money invested into BTC. We really can't tell what will happen in the long term, though. I think it's prudent just to wait a while and see what happens. At worst, you miss an opportunity to make more BTC profit. At best, you are positioned to take advantage no matter which coin emerges the winner.

I'm not too worried about BCH as a threat to BTC, personally. 8MB blocks aren't necessary, its developers are unknown and there is no economy built around it.

If this is the case, then every alt using POW ever created has been a threat to the existence of Bitcoin. As long as mining is profitable, miners don't give a damn about Bitcoin. This is the whole idea of mining. But at the same time, some miners do have stake in expensive Bitcoin. Alts is short term, Bitcoin is long term. BCC is not the threat it tried to be.

I think that everybody is like that in this moment. Just a month passed from BCC appearance and people still didn't get what to do with it. Somebody even said that it is a babble. But the price for Bitcoin cash is keeping to grow. I also have some coins and I am confused about my moves towards this currency. But I would not say that BCC is taking bitcoin down, the same way we could say that ETH is moving bitcoin down.

It is not a threat for bitcoin, it is valuable now just because of its name "bitcoin cash" and mining profit. If any other new coin offered bitcoin cash's features, it would had a market cap of less than 100M.

It's not as broad as PoW. Bitcoin and Bitcoin Cash both use SHA256, which means the specialized ASICs manufactured to mine BTC are also highly effective at mining BCH. Some altcoins use different PoW algorithms that make GPU or CPU-mining more effective than ASICs.

BCH is only a threat if Bitmain's pockets are very deep. They would need to manipulate the exchange rates and pour a lot of money into marketing to stir up demand for it.

There is history about same situation. It is etherium and etherium classic.
So etherium classic didn't die. It living. And actually more and more services starting support it. And it also rised up.

So there is very big chance that the same will be with bitcoin cash.

This mean - just keap it for long-term.

Yes, I think BCH (Bitcoin Cash) is a threat to BTC (Bitcoin) because they share the same resources: miners.

BCH is merely a fork of BTC. Forking open source projects is normal in programming. Some people here say, it just split because of a cash grab. I do not think that's right. It was made because the people behind it just had a different opinion as to how BTC should solve its long standing issues of congestion. The only problem was the BTC community was deadlocked for two or so years unable to move forward. So they just forked/duplicated bitcoin and made the limit change from 1MB to 8MB. This, they thought, was the best option to handle congestion. The rest (those left behind doing BTC) can continue working with their own ideas like Segwit, Segwit2x and/or Lightning Network with the old BTC.  

As a user myself, I find it ridiculous that you have to pay such high fees and wait so long just to get your transaction approved. For a wannabe currency, Bitcoin is definitely not doing a good job at that. Wasn't the point of Bitcoin to become a usable currency? It's definitely crap at doing that right now. But with BCH, you get cheaper transaction fees and quicker confirmations.

For a currency to win, I think it must really give the benefit of being used as currency. When I want to buy coffee with it, I wouldn't want to pay double or triple the price of coffee for my transaction costs and the merchant has to wait for days for my coins to drop into his wallet. To me, the decision is as simple as that. I would bet on a currency project that is catering for user's and merchant's needs.

At the moment, things are stabilizing for BCH. I think there's enough reason to hang on to your BCHs.

If you want more, this article gives a good primer: http://marquezcomelab.com/index.php/bitcoin-network-getting-really-congested-and-time-it-serious-worry

I think if you are going to use the Ethereum and Ethereum Classic example, then you would have to say that BTC is like Ethereum Classic and Bitcoin Cash is like Ethereum, not the other way around.

Ethereum Classic was the one that held on to the original blockchain, that is why it is called 'classic'. Ethereum is the one that worked on the 'improved' blockchain. (Improved in this case was cleaning up the blockchain to remove records of a big theft having taken place)

In that case, the original (ETC) sort of got left behind and the newer one, which managed to keep the name Ethereum, took off.

BTC is the one that is hanging on to the old code. BCH is the one that made some changes on it.

I do not think that it represents any threat to the BTC. Absolutely, you are right.

I don't think that Bitcoin Cash is currently a threat for Bitcoin. It's not stable at all, has many price fluctuations during the week, it's a copy-cat of Bitcoin but still, an altcoin.

Although, if the situation with the transaction fees doesn't return to normal soon, then we might have a problem.

I will never counted out bitcoin cash at this point, it currently sits at #3 position and lots of things going to happen in the future. We'll never know!

Nope, bitcoin cash will never become a threat for bitcoin but if bitcoin keep make their transaction slow, so long confirmed transaction and big fee like nowdays, it will make bitcoin user will leave bitcoin and start using other altcoin that have many good benefits than bitcoin like bitcoin cash. I hope it never happen though,

I can't find that bitcoin cash is a threat for bitcoin. I consider BCC as a virus attacking BTC  in order to broke its complexity but they could not succeed. Bitcoin is most trusted by the community, and they only invest it aside from other altcoins.