Bitcoin Legacy (aka AXAcoin, aka Bitcoin Core Coin) chain won't survive

[cashodler]

The title is self-explanatory, tech-savvy people already know that the Bitcoin Legacy is headed for a doomsday, because of the crappy Blockstream developers group called Bitcoin Core funded by AXA Bank (basically current Bitcoin is funded by a private bank that doesn't want it succeed in the future), that's why Blockstream doesn't want segwit2x, in November bitcoin will either fork into 2 chains, or there will be no blocksize change, it will hurt the bitcoin hard no matter what happens. There is almost no one running BTC1 software (needed for segwit2x), mostly everything is Bitcoin Core that doesn't want the "2x" part of segwit2x. The segwit is a great security threat that should never be implemented and the bitcoin legacy road map will not succeed, they're basically trying to change Bitcoin in the way no sane person would want.

We already have a coin that is ready to get mass adopted and that is Bitcoin Cash, no segwits, no second layers, no BS scaling road maps. It's already invented and ready just waiting for the right moment for a takeover.

After segwit activation on Bitcoin Legacy chain, we'll hit the new ATH and then the price will slowly decrease followed by Bitcoin Cash price increase until Bitcoin Cash becomes the main chain. This will be partly forced by Chinese miners that know you can't just dump all bitcoins at once, but have to do it slowly. People who know that celebrate the low price of Bitcoin Cash and will accumulate as much as possible. People who sold Bitcoin Cash will regret it hard. It takes only a small price pump to Bitcoin Cash to become profitable to miners and imagine if Bitcoin Cash was the price of current Bitcoin, miners would be totally crazy to mine Bitcoin when they can get hundreds of percents more money for mining Bitcoin Cash.

The future is really bright, it only depends if u stand on the right side. It will only take a small changes for stores around the world and Japan to change from Bitcoin to Bitcoin Cash, because it's just forked Bitcoin, support can be brought in a few days. There are so many  people emotionally invested in Bitcoin (and people brainwashed by Bitcoin Core propaganda) that will refuse this only to see their money vanish, don't be one of them, at least create a hedge or just don't sell your Bitcoin Cash, this way, you can be sure you don't lose your money.

Bitcoin is gon' be a Bitcoin Cash's b1tch, maybe you're now too emotional to accept that, but that's the most likely scenario to happen right now.

And as always it's good to recall this good old quote:

Whenever you find yourself on the side of the majority, it is time to pause and reflect.

[Lagduf]

Are you trying to FUD? But i just get an announcement fro my local exchange if the bitcoin cash network can't stand again and it will be delisted from there. Sold your bitcoin cash before too late. Those just want free money and dump it right now. 

[cashodler]

Are you trying to FUD? But i just get an announcement fro my local exchange if the bitcoin cash network can't stand again and it will be delisted from there. Sold your bitcoin cash before too late. Those just want free money and dump it right now.  

If you think so, no one will tell you what to do, do your due diligence and place your bets accordingly, so you won't regret it later.

Sounds like they're afraid of Bitcoin Cash success, funny. AXA BANK (also known as Blockstream and Bitcoin Core) is really here.

FUD is irrational, I have arguments and people who think about the upcoming changes to bitcoin protocol see that already. I'm not the only one saying that, there are already thousands of people that understand this and more are to come. They just laugh at the speculations here about bitcoin.

[oslak]

The title is self-explanatory, tech-savvy people already know that the Bitcoin Legacy is headed for a doomsday, because of the crappy Blockstream developers group called Bitcoin Core funded by AXA Bank (basically current Bitcoin is funded by a private bank that doesn't want it succeed in the future), that's why Blockstream doesn't want segwit2x, in November bitcoin will either fork into 2 chains, or there will be no blocksize change, it will hurt the bitcoin hard no matter what happens. There is almost no one running BTC1 software (needed for segwit2x), mostly everything is Bitcoin Core that doesn't want the "2x" part of segwit2x. The segwit is a great security threat that should never be implemented and the bitcoin legacy road map will not succeed, they're basically trying to change Bitcoin in the way no sane person would want.

We already have a coin that is ready to get mass adopted and that is Bitcoin Cash, no segwits, no second layers, no BS scaling road maps. It's already invented and ready just waiting for the right moment for a takeover.

After segwit activation on Bitcoin Legacy chain, we'll hit the new ATH and then the price will slowly decrease followed by Bitcoin Cash price increase until Bitcoin Cash becomes the main chain. This will be partly forced by Chinese miners that know you can't just dump all bitcoins at once, but have to do it slowly. People who know that celebrate the low price of Bitcoin Cash and will accumulate as much as possible. People who sold Bitcoin Cash will regret it hard. It takes only a small price pump to Bitcoin Cash to become profitable to miners and imagine if Bitcoin Cash was the price of current Bitcoin, miners would be totally crazy to mine Bitcoin when they can get hundreds of percents more money for mining Bitcoin Cash.

The future is really bright, it only depends if u stand on the right side. It will only take a small changes for stores around the world and Japan to change from Bitcoin to Bitcoin Cash, because it's just forked Bitcoin, support can be brought in a few days. There are so many  people emotionally invested in Bitcoin (and people brainwashed by Bitcoin Core propaganda) that will refuse this only to see their money vanish, don't be one of them, at least create a hedge or just don't sell your Bitcoin Cash, this way, you can be sure you don't lose your money.

Bitcoin is gon' be a Bitcoin Cash's b1tch, maybe you're now too emotional to accept that, but that's the most likely scenario to happen right now.

And as always it's good to recall this good old quote:

Whenever you find yourself on the side of the majority, it is time to pause and reflect.

I think its time for you to go back to your cave.

[HeRetiK]

FUD is irrational, I have arguments

Oh boy oh boy. This is going to be fun.

The title is self-explanatory, tech-savvy people already know that the Bitcoin Legacy is headed for a doomsday,

Appeal to authority. Appeal to emotion.

because of the crappy Blockstream developers group called Bitcoin Core funded by AXA Bank (basically current Bitcoin is funded by a private bank that doesn't want it succeed in the future), that's why Blockstream doesn't want segwit2x,

Ad hominem x2.

in November bitcoin will either fork into 2 chains, or there will be no blocksize change, it will hurt the bitcoin hard no matter what happens.

Jumping to conclusions.

There is almost no one running BTC1 software (needed for segwit2x), mostly everything is Bitcoin Core that doesn't want the "2x" part of segwit2x.

I guess? Didn't check. Not sure why relevant.

The segwit is a great security threat

How so? Please expand.

that should never be implemented and the bitcoin legacy road map will not succeed,

Why? Please expand.

they're basically trying to change Bitcoin in the way no sane person would want.

Ad populum.

We already have a coin that is ready to get mass adopted

Yes...

and that is Bitcoin Cash,

Non sequitur.

no segwits, no second layers, no BS scaling road maps. It's already invented and ready just waiting for the right moment for a takeover.

Acknowledged.

After segwit activation on Bitcoin Legacy chain, we'll hit the new ATH and then the price will slowly decrease followed by Bitcoin Cash price increase until Bitcoin Cash becomes the main chain. This will be partly forced by Chinese miners that know you can't just dump all bitcoins at once, but have to do it slowly.

Non sequitur.

People who know that celebrate the low price of Bitcoin Cash and will accumulate as much as possible. People who sold Bitcoin Cash will regret it hard.

Ad populum. Appeal to emotion.

It takes only a small price pump to Bitcoin Cash to become profitable to miners and imagine if Bitcoin Cash was the price of current Bitcoin, miners would be totally crazy to mine Bitcoin when they can get hundreds of percents more money for mining Bitcoin Cash.

It takes only a small price pump to Bitcoin Cash Dogecoin to become profitable to miners and imagine if Bitcoin Cash Dogecoin was the price of current Bitcoin, miners would be totally crazy to mine Bitcoin when they can get hundreds of percents more money for mining Bitcoin Cash Dogecoin.

(Ad Doge.)

The future is really bright, it only depends if u stand on the right side.

Appeal to emotion.

It will only take a small changes for stores around the world and Japan to change from Bitcoin to Bitcoin Cash, because it's just forked Bitcoin, support can be brought in a few days.

It will only take a small changes for stores around the world and Japan to change from Bitcoin to Bitcoin Cash Dogecoin, because it's just forked Bitcoin, support can be brought in a few days.

(Ad Doge.)

There are so many  people emotionally invested in Bitcoin (and people brainwashed by Bitcoin Core propaganda) that will refuse this only to see their money vanish, don't be one of them, at least create a hedge or just don't sell your Bitcoin Cash, this way, you can be sure you don't lose your money.

Ad populum. Appeal to emotion.

Bitcoin is gon' be a Bitcoin Cash's b1tch, maybe you're now too emotional to accept that, but that's the most likely scenario to happen right now.

Non sequitur.

And as always it's good to recall this good old quote:

Whenever you find yourself on the side of the majority, it is time to pause and reflect.

Appeal to authority.


<3

[Nikolaj06]

Man Heretik, that was a fantastic breakdown <3
I had to find my old account just to say that lol

[European Central Bank]

i got both. if bcash wins out i will still have enough left to dump both in disgust and walk away without looking back. if bitcoin is replaced by bcash then its concept has turned out to be a failure.

[pooya87]

The title is self-explanatory, tech-savvy people already know that the Bitcoin Legacy is headed for a doomsday, ~

you have already failed with your first statement. and it is way too obvious what you are trying to do. next time try to hide it better.

Bitcoin is gon' be a Bitcoin Cash's b1tch, maybe you're now too emotional to accept that, but that's the most likely scenario to happen right now.

this simply will never happen. and i don't need to make it bold to attract attention. and the "tech-savvy people" already know it.
bitcoin cash may seem nice and better to some newbies who don't know what a 8 MB block really means for a decentralized network but the rest of us know better. and in the long term they will also know come to this conclusion.

[Bancorholder]

There has been rumors about BTC whales accumulating BCC but that's been just words on forums until I saw individual whales buy 100-200 worth of BTC in a few buy orders on bittrex. This was when the price hit $250/BCC. Until then I reasoned that the whole big blockers/OG money conspiring to take replace their BTC holding with the new bitcoin, BCC, was just a wild theory. You can dismiss this story saying those whales are just idiots but I don't think they got to where they are because they were dumb. At the very least, I believe BCC is a hedge against BTC failing and the value of BCC will be trail BTC the same as ETC to ETH.

[FiendCoin]

There has been rumors about BTC whales accumulating BCC but that's been just words on forums until I saw individual whales buy 100-200 worth of BTC in a few buy orders on bittrex. This was when the price hit $250/BCC. Until then I reasoned that the whole big blockers/OG money conspiring to take replace their BTC holding with the new bitcoin, BCC, was just a wild theory. You can dismiss this story saying those whales are just idiots but I don't think they got to where they are because they were dumb. At the very least, I believe BCC is a hedge against BTC failing and the value of BCC will be trail BTC the same as ETC to ETH.

No one gives a shit about bcrash. Stop spreading lies newbie. No BTC whale is buying bcrash, only crazies are. Those delusional r/btc nutjobs.

[Bancorholder]

I think it is human nature for people to cheat if the cost is small and the reward is large.

I ask myself, was it costly for big blockers to fork the chain to get BCC? At present I can't see much cost on the big blocker side. Maybe a loss in reputation for the moment. The reward was immense. They already got their optimal/profitable version of bitcoin that they can put their 100's of millions of equipment towards. The cost/reward explains why the hard fork took place despite the consensus to do segwit2x.

Then the next question is whether the big blockers will pull their resources from BTC. The cost would be another stain on their reputation, public outcry, the market would take a hit as BTC grinds to a halt. Since BTC doesn't have difficulty adjustment like BCC a sudden pull back by big blockers will not end well. The rewards are immense for them. Their version will moon and replace BTC as Bitcoin and they can profit and dictate Bitcoin's future, no more appeals and consensus reaching with Core devs. The cost/reward does indicate to me that this has a good chance of taking place.

[HeRetiK]

I think it is human nature for people to cheat if the cost is small and the reward is large.

I ask myself, was it costly for big blockers to fork the chain to get BCC? At present I can't see much cost on the big blocker side. Maybe a loss in reputation for the moment. The reward was immense. They already got their optimal/profitable version of bitcoin that they can put their 100's of millions of equipment towards. The cost/reward explains why the hard fork took place despite the consensus to do segwit2x.

Then the next question is whether the big blockers will pull their resources from BTC. The cost would be another stain on their reputation, public outcry, the market would take a hit as BTC grinds to a halt. Since BTC doesn't have difficulty adjustment like BCC a sudden pull back by big blockers will not end well. The rewards are immense for them. Their version will moon and replace BTC as Bitcoin and they can profit and dictate Bitcoin's future, no more appeals and consensus reaching with Core devs. The cost/reward does indicate to me that this has a good chance of taking place.

Oh mining BCH is definitely costly right now. And I'm not talking about reputation here but cold. Hard. Cash.

According to coin.dance the BTC chain is currently more than twice as profitable as the BCH chain - https://cash.coin.dance/blocks

But it seems like they don't account for the slow BCH block times, meaning it's probably much worse than that.


Let's do the math.


There's currently ~144 BTC blocks / day, 12.5 BTC per block, USD 3100,- each. That gives us 144 * 12.5 * 3100 = USD 5,580,000,- divided amongst miners per day.

On the other hand we have ~19 BCH blocks / day, 12.5 BCH per block, USD 230,- each. That gives us 19 * 12.5 * 230 = USD 54,625,- divided amongst miners per day.

So unless only 0.97% of former BTC miners have pointed their hashpower towards BCH they are bleeding money as we speak. If say 5 * 0.97% = 4.85% of former BTC's hashpower is pointed towards BCH right now they operate at only 1/5th of the profits that they could gain from the BTC chain. That means collectively more than USD 200k each day that could be gained by mining BTC instead.


So yeah, either BCH's hashpower is freakishly small or they currently pay with much more than just their reputation.

[Wexlike]

I think it is human nature for people to cheat if the cost is small and the reward is large.

I ask myself, was it costly for big blockers to fork the chain to get BCC? At present I can't see much cost on the big blocker side. Maybe a loss in reputation for the moment. The reward was immense. They already got their optimal/profitable version of bitcoin that they can put their 100's of millions of equipment towards. The cost/reward explains why the hard fork took place despite the consensus to do segwit2x.

Then the next question is whether the big blockers will pull their resources from BTC. The cost would be another stain on their reputation, public outcry, the market would take a hit as BTC grinds to a halt. Since BTC doesn't have difficulty adjustment like BCC a sudden pull back by big blockers will not end well. The rewards are immense for them. Their version will moon and replace BTC as Bitcoin and they can profit and dictate Bitcoin's future, no more appeals and consensus reaching with Core devs. The cost/reward does indicate to me that this has a good chance of taking place.

Oh mining BCH is definitely costly right now. And I'm not talking about reputation here but cold. Hard. Cash.

According to coin.dance the BTC chain is currently more than twice as profitable as the BCH chain - https://cash.coin.dance/blocks

But it seems like they don't account for the slow BCH block times, meaning it's probably much worse than that.


Let's do the math.


There's currently ~144 BTC blocks / day, 12.5 BTC per block, USD 3100,- each. That gives us 144 * 12.5 * 3100 = USD 5,580,000,- divided amongst miners per day.

On the other hand we have ~19 BCH blocks / day, 12.5 BCH per block, USD 230,- each. That gives us 19 * 12.5 * 230 = USD 54,625,- divided amongst miners per day.

So unless only 0.97% of former BTC miners have pointed their hashpower towards BCH they are bleeding money as we speak. If say 5 * 0.97% = 4.85% of former BTC's hashpower is pointed towards BCH right now they operate at only 1/5th of the profits that they could gain from the BTC chain. That means collectively more than USD 200k each day that could be gained by mining BTC instead.


So yeah, either BCH's hashpower is freakishly small or they currently pay with much more than just their reputation.

Wrong. Only the difficulty is the relevant part for mining profitability.

[Cashew]

Bitcoin Cash is the greatest failure of all times in the crypto-world ! There is no blocks, showing how this thing is supported only by greedy people and not at all common people.

[adam1230]

BCC has no future in this world. Some of greedy people created their own altcoin to win big. But now they are just playing in kinder garden.
let them play in sandbox...

[HeRetiK]

Wrong. Only the difficulty is the relevant part for mining profitability.

I see you have never mined before. Difficulty is only an indicator of the total hashpower of a network allowing you to calculate how big of a piece of the pie you'll get. If the target interval can't be kept because the hashpower is too low, your calculations go down the drain because the pie is much smaller. No blocks, no reward, no profit.

6 years ago my family and friends laughed at me for investing in Bitcoin. I'm going to invest in BCC as well.

Hey man, don't let me rain on your parade. I'm not trying to talk anyone out or into BCH. I'm just trying to rectify false statements.

[blade87]

Litecoin >>> BCH.

I can't believe it hit 0.4 during that initial pump. Congrats to those who increased their Bitcoin by 30-40% for free.

[European Central Bank]

so how long do we reckon it is before we see the block reward change and perhaps permanent inflation?

since they've diverged they may as well continue to do so.

[piramida]

Actually it went like this:

Whenever you find yourself posting hopeless trash on bitcointalk, it is time to pause and reflect.