What you will do if that thing will happen someday??
I think that won't happen anyway. Because nowadays many of the altcoin are being entertained by the bitcoin/crypto community. And what do you mean by all coins dissapear? are you saying including bitcoin? I believe while answering the question we should not think of it as of a real possible problem but rather as of a thought experiment. If we don't add additional info to what we have, it is just a normal day with no nuclear war or something like that. You wake up, turn on your laptop and find out in the Internet that the coins are gone. You can't believe your eyes and so you quickly enter your wallet. You see no coins there. As if they've never been there. I think that overall cryptocurrency community is about 20 million people. The overall population of the potentially civilized world is about 5 billion people. So, at best, of one 250 people will wake up and become highly depressed and covered in panic. It will surely be on the news in countries like USA, Canada, Russia, China but it is not likely to affect a significant amount of people. The economy is likely to suffer, though, for it will be around 95 billion dollars lost. |
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Hey guys, so I'm really new to all this stuff and I want to know which one you guys feel is better. I would greatly appreciate it if someone could tell me the pros and cons of both so I can grasp an idea of what Im dealing with.
Bitcoin BTC The Original Ethereum [ETH] Next Generation Bitcoin'BTC'-Bitcoin was the original. As we have seen, the original is not always best - but it still was innovative. It uses a public ledger called a blockchain for security and it's the idea for Vitalik to create Ethereum. Ethereum'ETH'-It's like Bitcoin but have a 'New' discovery in their techonology : - Smart Contracts allow you to write applications in the blockchain that usually run as programmed.
- 'ASIC-proof' algorithm makes it profitable to mine for people without expensive hardware.
in brief BTC and ETH just like a father and son,son learn everything from his father and he grow up because of that And yet there are some things really different. Bitcoin is now not having tons of hours to get the transaction confirmed and yet the transactions are far from instant. Ethereum transaction get confirmed within minutes if I'm not mistaken. This point is a disadvantage of bitcoin. As for the opposite, ethereum allows people to do a lot more with it, then btc does. As a result, eth code is so comples that there is always some 'blank space' that makes huge hacks possible. |
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I know gambling with alt coin is quite giving you regret because the price is increasing. But I want the usual way of gambling, I want where it all started. Those alt coins later on will also exchange into bitcoin by the casino's after collecting it in able to get some decent profit. I will prefer bitcoin always.
Do you mean the regret that one hasn't decided to gamble with it? I understand that now, as bitcoin has been improved, it is probably not a bad choice for gambling. And it is easy to exchange it for fiat, whereas with altcoins there are a lot less possibilities to do that. Plus, there might be withdrawal problems (like a very high minimum withdraw which was set when the coin didn't cost much). Still, I think that eventually some alts will win over bitcoin in gambling sphere. |
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I have received my payment as well. Thank you so much!
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A good altcoin needs:
Real world features that meet real world needs, that don't exist on any other network, or are implemented in a better way.
These features should be
Network features - what can you do with the system, and how do you do it
Community features - how to connect users of the system
Governance features - how to manage the growth of the system
Gateway features - how to connect this system with other systems
Blockchains are a certain type of Database, your wallet is just a way of interfacing and altering the database. So the question is, what types of efficiencies can be drawn out of this new type of database/network? There is already a growing array of uses. Currency (bitcoin, litecoin, dash) blockchains are over saturated. very rarely does a new interesting one come out. To grow an interesting currency chain, it really needs to focus on usability and user features. Smartcontract chains are also pretty over saturated (ETHEREUM, NEM, NEO) but are much less developed, as they are a much more complicated system (which is why there is a lot of FUD around ethereum). There are APP coins like SIA which is about decentralized distributed cloud storage.
There are many very interesting altcoins, at this point all advantages with bitcoin have to do with the network effect (biggest userbase, most well known, most applications built around it) otherwise it is the most outdated blockchain of any value. It is a very slow network, both in operation, and in how it upgrades (upgrading slowly is part of it's security however).
I think you have missed the time transactions take to proceed (they should be instant) and safety of the code (no problems of the kind which we see ethereum has). And yet I think that even a coin having everything quite perfect may stay being unnoticed and worth nothing. And it may stay this way forever. A coin has to be advertised somehow, so that someone decides to build, say, a casino operating only with it. Then people might realize it is indeed better than anything they've seen and maybe the coin will have a chance to be noticed. I think the winning coins are not the best ones. |
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Bitcoin cash is at the third place on coinmarketcap after only one day of life. I think people are confident in this cryptocurrency which is the same as BTC ... but better. Btc is done.
I'd say bch is done. Bitcoin is doing great, even better than usual, for the transactions seem to be faster. BCH price is going down, it is already #4 in capitalization. I have also seen people complaining about transactions being slow. We had two three days of people being obsessed with bitcoin cash. Now they seem to be over, for the currency can't defeat such a great king bitcoin is. It perhaps could if nothing was changed with btc but it is not the case. |
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You can also try bots, they can be useful nowadays. Telegram has cryptoping and altcoins. They both can alert you on the prices. Here is a list of altcoin-related telegram things: https://steemit.com/cryptocurrency/@aaronmda/list-of-telegram-crypto-groups-and-bots. Perhaps it is not convenient if you are not using telegram in general. It is just that in my country it is very popular. And, you know, in a way telegram is like a part of cryptocurrency ideology, for all of the messages here are heavily encrypted. |
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Let us wait and see whether Coinbase supporting BCH will be of great help to the pricing of BCH. That would be almost half a year from now.
The hype of BCH is over and the price is now depleted. Coinbase will not support this once the trading volume is lower as the volume since the BCH was release. Later it will be just a normal altcoin just like what happened to BTU. Many are hoping that BCH price will be same as BTC which is far to happened in my opinion. Yes, I think that if they decided to support it, say, tomorrow, they would've done it, for bch is still on top. However, after a few months it won't make much sense, for the community will decrease along with the price. It is stange that coinbase lets people see they have bch, but doesn't let to do a thing with them. I think this is rather bad for their reputation, because they sort of make people hold the money, right? |
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One hour for BTC is great for me, I'm normally happy to wait but this is a different matter isn't it? Anyway, as mentioned, let's give it a chance to adjust difficulty. It's really early days yet. Can't wait for exchange wallets to be ready for deposits. Yawning hole there.
Do you think it is just because the coin is new? Or maybe it somehow didn't solve the transaction problem? I know the block was increased but perhaps there are some other factors we should consider. And hey, one hour WAS great with bitcoin but I've heard that now transactions take about 10-30 minutes. I haven't checked it myself, for since segwit I had only one transaction with bitcoin. I was watching the film at that time and had about an hour left. The transaction was confirmed when I watched it till the end. |
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Obviously Invest in bitcoin for long term always make good profit. But now some bad days going on because of this fork and all. so you can analysis first by your self and than you can invest.
Sure, almost everyone on this forum agrees. The op is asking about people who are mostly right. Well, iamnotback is quite a smart forum member, I guess. Spoetnik should be considered as well but he is rude and irrationally against ethereum. Although there are people whom you can listen to, I think it is better to read articles on bitcoin and decide on your own. |
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ETH will undoubtedly rise, but we need to be patient. There are other things happening in the market. We have BCH at the moment, and it will take a while for that to settle down. Then we have segwit lock-in for BTC, which looks like it will happen within the next week. Once these have calmed, we will see lots of money flowing back to alts, and alts will rise with ETH leading the way.
Why would it undoubtably rise? We all remember there are problems awaiting ethereum. It is ought to switch to proof-of-stake if it doesn't want to crush again. I think soon we'll see eth having problems just like it was with bitcoin. When the problems will be solved, it may become great again. Not now. $200 is just a normal price for eth nowadays. Apart from potential problems, it already has some serious security issues. Lots of eth was stolen a couple of time. This coin is hard to trust nowadays. |
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Essentially BCH is a mechanism which ensures the long term scalability of Bitcoin. If BTC fails to scale, the community will switch over to a Bitcoin that does scale; BCH.
Other prospective alt-coins which tackled BTC scalability will become ever more irrelevant. Value will flow from these Alts into BCH.
Either BTC scales or BCH scales. Regardless, Bitcoin will scale.
BCH coming into existence is the best thing that ever happened for Bitcoin.
We have won gentleman.
BCH is a piece of shit coin who brought nothing but money for fuckers who re behind it. It essentially undermines immutability of BTC and the entire crypto. What happens next time when Roger Ver and the gang need more money? Let s introduce Bitcoindash. Then Bitcoinfash. Then Bitcoinrush. Where does this all end? Essentially, if I can get free coins every few months, why would I invest into crypto at all after I gain my initial stash? I m so glad you ve made $300 on this and now you praise it without understanding the damage it does to crypto. I would rather agree with this. Bitcoin was not in big danger on 08/01. Segwit is a soft fork, so it was meant not to result in a split of bitcoin. Some people thought it might be a great idea to create bitcoin cash in advance, so that in hard fork case we already have a solution. Segwit was successfully implemented, so no bch should have appeared. But why not to make a hard fork anyway as we see many people wanting to buy our backup plan currency? And so they did it. And got lots of money. However, as people will see that bitcoin is doing just fine and as it will start growing in price, people will dump this version of bitcoin. So, lots will lose their money again. Nothing good here. |
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Hey all. Do you think it might be a good idea to trade bitcoin for waves? I have an okay amount of waves but want much more now. But i do not have that much free cash etc. I can only really just trade bitcoin for it.
I would not recommend to do that right now, for bitcoin now has its problems solved, so people will invest in it even more. I thin know is the time of bitcoin and bitcoin only. At least wait till you earn some profit out of btc and then, if waves will still be okay, go for it. I think that waves has potential, for it allows people to adjust the currency to their own business with no need to creating their own but this potential might remain unused. |
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I would like to add some specifications here.If I own Bitcoin, do I automatically own Bitcoin Cash too?
"If I own Bitcoin, do I automatically own Bitcoin Cash too?" - as well as I know it depends on where you stored your btc before the first of August. If it was on the exchanger or some online wallet, you probably won't get your bcc.
"Why was a fork necessary to create Bitcoin Cash?" - I think it wasn't. Something had to be done and with btc is was done indeed. Bitcoin has a segregated witness technology now, so it has solved the problems with transactions. Bitcoin cash was supposed to be a back up plan but, as too many people got interested, it was released anyway.
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This coin has a gaming community and big funds behind it but it is still not released, right? People can now only invest in it for a good future.
I have got another question. As this coin operates on blockchain platform as I see it, will it use smart contracts and games, so that people don't have to be trusting anyone? And what about dapps? I think as eth provides quite a range of opportunities, it would have been good to use them fully.
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I think since Bitcoin was the first cryptocurrency it is also the most adopted one by retailers and shops. So due to this unique position I do not expect it to be replaced. However in the meantime there are a lot of other coins and tokens available out there which do a much better job and are much more appropriate for their specific purpose.
I agree with you it seems bitcoin had good position in crytocurrencies industry. However due to large volume of altcoins in crytocurrencies world we can't says if bitcoin hold their position for long time. Moreover, theirs a lot of developers who create newly coins, so maybe one day we see bitcoin fall down in their position. Most of problems stated by the OP are now supposed to be solved after segwit, right? Thus, I think now there is even less chance that btc is going to be replaced, although it is true that some currencies are safer, cheaper and faster. And yet now btc has a very solid opponent which is the alternative btc aka bitcoin cash. It is gaining popularity and probably some will choose it for business projects rather than bitcoin. If I'm not mistaken, bch has 8mb block size whereas btc will have 2mb. I think it makes bch better in long-term perspective. |
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Why we need this BCC if we have normal old bitcoin  Because the people behind this "alternative coin" think that bitcoin is not really the digital currency they've looked up in the past and they want it to make a turn. If you can read the other posts, it has the same features as bitcoin but with a few modifications. So I think you can say an altcoin with their dream feature to bitcoin. Moreover, they even maintain that the 'good old' one is actually bcc, for it is closer to classic bitcoin, no segregation here, just a block which is a lot bigger. I don't think bcc can win over btc and the fact that no natural hard fork took place is actually for it but it is doing extremely impressive now. 50% up on coinmarketcap, already number three in capitalization whereas other coins usually pave their way to the top quite slowly. |
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Once people are able to deposit their BCH onto exchanges and dump, it will take a massive dive at least for a bit.
I don't think people will sell their bch rightaway. I guess now the currency is doing so well due to two reasons. The first one is that miners are probably getting obsessed with such an easy mining of a newly released coin, so the activity becomes super-profitable. Second is thing is that bitcoin is now an upgraded version of what it used to be and I have seen respected members of the forum willing to turn to bitcoin cash now, as it is closer to what btc is supposed to be. They probably have lots of funds, so they invest in the currency. I think they can be compared to those people in "Doctor who", who were running away from cybermen, because those are obsessed with upgrades and are not people anymore, you know. |
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Yes, we can finally focus on Bitcoin transition to 2M in November so it goes smooth. The Aug 1 BIP148 was distraction from small blockers trying to mess up Bitcoin, as usual.
I think everything will go smoothly now, so we don't have to do a thing with preparation. BTC is already prepared for that. And yes, just as stated in the thread name, we can finally have the usual things done. I guess the transactions are now accessible, so we can buy, sell, send and do whatever we want to do with the upgraded bitcoin version. |
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i am interested to buy BCC (Bitcoin cash) after hardfork for long term, is it worth to buy it now or wait?
Hi. As btc successfully obtained segwit technology, no hard fork happened. Thus, your question is irrelevant to current situation. However, some people still think bcc is worth buying, for it is closer to what btc always was, closer to what Satoshi meant it to be.. That's why probably it is not worthless but I think it is just another coin now. It is up 55%, of course, but I think it will eventually go down. If something is worth to be done with bcc then I think it is not buying but mining it, because we all now the first coins are so easy to mine whereas afterwards it is all not that easy. |
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