[ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees

[Mrpumperitis]

No reason to be confused, just watch the youtube video, John refers to BTC. Then remember that BTC comes from years ago, so if there is a fork BTC remains the main chain and BCH can not be perceived by the BCH noobs as the real bitcoin but only real Bitcoin (notice the uppercase B for the confused) Remember BCH split from the chain, BTC did not split from the chain. So BTC will remain for ever bitcoin.

eth split from its original chain...it took its ticker with it..just saying.

for those mcafee fans lol
https://www.youtube.com/watch?v=v0Ujt0R6qko
he is a funny guy, he also says he is a poor trader and has lost alot, so dont listen to him to much on trading lol

[1714221633]

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[x2666]

No reason to be confused, just watch the youtube video, John refers to BTC. Then remember that BTC comes from years ago, so if there is a fork BTC remains the main chain and BCH can not be perceived by the BCH noobs as the real bitcoin but only real Bitcoin (notice the uppercase B for the confused) Remember BCH split from the chain, BTC did not split from the chain. So BTC will remain for ever bitcoin.

BTC split from "The" Bitcoin chain via segwit.

BCH split from "The" Bitcoin chain via raising the block size.

Both forks implemented changes, thus while one kept the stock ticker of BTC and the infrastructure built around the BTC ticker on trade platforms, it is not inherently the defacto Bitcoin.

If BCH manages to maintain the majority hashing power and prices rise to support it, it will become the chain which is used and referred to as the main Bitcoin.

Obviously, this could not happen within the same day of launch, or week, or maybe even month or months. This will take some time to play out. Right now there is a great deal of uncertainty among investors, traders, and miners.

A great deal hold both of their coins, BTC and BCH and use BTC + BCH to calculate the overall bitcoin price, which is a sensible way of understanding this.

[Somz1]

Hello everyone!

I have been following this thread a long while now. I have a question which makes me very very very confused. The John McAfee prediction of $500000 per coin, did he refer to "BTC (Bitcoin)" or "BCH/BCC (Bitcoin Cash)"? Can someone please shed light on this? I see that some people keep asking him in his Twitter but he does not reply to those questions at all, which is very strange.

Please, I am not asking for speculation or a flame war coin vs coin, I just need to know specifically which coin John was talking about? Because he said bitcoin but also he said he is with Jihan Wu... so that's why I'm confused. WHICH ONE OF THESE TWO COINS DID HE TALK ABOUT?

Greatly appreciate some insight into this issue,

Thank you.

Don't get confused that is prediction is only about Bitcoin the original one BCH has fate just to stay as an altcoin so nothing more than that. BCH is just using the name of Bitcoin without that this coin has no value you will see in future this will lose more value and Bitcoin will remain in top position like it is.

Yes, McAfee was of course talking about bitcoin (BTC).  In the article below, at one point he uses the "BC' abbreviation for bitcoin.  "BC" does not mean Bitcoin Cash.

https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

He clarifies the statement in the comments. Smart money is with Jihan or something to that effect. Valiant effort though.

Exactly. That is the part I don't understand. Why does he say "BTC (Bitcoin)" then he says smart money is with Jihan?!? Jihan is obviously with "BCH (Bitcoin Cash)" and not "BTC". What the hell is going on?

John first said bitcoin would be valued at $500,000 in future

But in the follow up tweets he changed it to bch when suddenly he claimed to be friends with Johan Wu and supported his fork,and he meant that the bch would be the coin to be worth $ 500,000

You can check it out here:-
https://cointelegraph.com/news/mcafee-stakes-his-name-10-mln-on-bitcoin-split

[x2666]

Sorry, no I didn't mean anything intentionally... but beside that, I mean, everywhere on the news they say Johan says Bitcoin (BTC)... but then he says on Twitter "I'm with Jihan"... that's what made me super confused and strangest thing is he just ignores all such questions from people.

Perhaps he is making everyone confused on purpose?

I wish he would just clear this matter on his Twitter.

Almost rude that he just ignores everyone's question about this or maybe it's just me. I don't know.

He allegedly said that he would appear on Kenn Bosak's Bitcoin talk show on the 23rd but then didn't confirm a time with him and stood Kenn up.

Perhaps this is because Bosak was intending to ask such a question. When McAfee goes on RT like he did recently, he can give a general explanation without revealing too much of his deeper thoughts about crypto. Kenn Bosak is familiar with the space though and would likely have a great deal many more probing questions for McAfee.

Finally, when somebody says Bitcoin, it is now a general term which could be perceived to mean BCH or BTC. In McAfee's small time slot on RT he couldn't possibly explain such a complicated topic to what is anticipated to be a general audience, uneducated about crypto-currency on any level.

There is a lot of doublespeak around this situation, many people are vocal about supporting one side while others are silent and willing to follow whichever appears to be 'winning'. This is like poker, people may not want to telegraph their moves because there is no clear advantage in doing so. Only time can tell where this leads.

[serby10101010001100010]

you ask yourselves too many questions, as previously stated BTC will probably range in the 4ks price level for quite some time. That's all I need to know.

+/-  Quite some time could be 7 days, 14, 21, 30, 40, but on that 42nd day at the such and such hour, where will it break? Down or up?

Stagnation is not a good sign for an asset which has seen such a monstrous climb if you ask me. BTC valuation depends on inflows of new capital and if things get tense that is one precipitous peak on the 1, 2 year chart. Crypto investors have a tendency to adapt tunnel vision and only conceive of rises, they don't consider other sectors of investment which might present great opportunities for larger players to shuffle their capital allocations.

Do they have such a biased conception of trading the market, where instead what comes up must go down, I mean just have a look at a chart (which I know you have) even a chimpanzee could hit the buttton and take profit lol

[Savik]

If BCH users can not even read twitter then there is no hope for them and BCH. John clearly tweeted about BTC and note BCH was never at $1 800 and never will be. Bitcoin will be $500 000 in 2020 but remember that discounts FIAT devaluation also. Things are not just about mining hash power shifting between BCH and BCT for profitibility, that us just a short term miners option. BTC has network effect and BCH not. BCH will never have. BCH might co-exist with BTC but will never come close to BTC in the long run. BCH might reach $3 000 in 2030 when BTC pushes $1mil.

See John's tweet below including his miss spelt Bitcoin (corrective text is a bugger) and also watch his interview on youtube about bitcoin not BCH.

John McAfee‏ Verified account @officialmcafee
Bitcoub's low of $1,800+ yesterday simply could not be maintained. In the long term Bitcoin moves above $500,000 within three years. Bets?
11:14 am - 17 Jul 2017

C'mon man. You are the one with reading problems:

https://mobile.twitter.com/chintanmajithia/status/887017116993413120

https://mobile.twitter.com/destractions/status/887013221432938496

https://mobile.twitter.com/zerpking/status/887031947997962240

[x2666]

you ask yourselves too many questions, as previously stated BTC will probably range in the 4ks price level for quite some time. That's all I need to know.

+/-  Quite some time could be 7 days, 14, 21, 30, 40, but on that 42nd day at the such and such hour, where will it break? Down or up?

Stagnation is not a good sign for an asset which has seen such a monstrous climb if you ask me. BTC valuation depends on inflows of new capital and if things get tense that is one precipitous peak on the 1, 2 year chart. Crypto investors have a tendency to adapt tunnel vision and only conceive of rises, they don't consider other sectors of investment which might present great opportunities for larger players to shuffle their capital allocations.

Do they have such a biased conception of trading the market, where instead what comes up must go down, I mean just have a look at a chart (which I know you have) even a chimpanzee could hit the buttton and take profit lol

That's not a bias, that's a time tested principle. It's a bias to think that cryptocurrencies can only grow all the way upwards to become the main global transaction system in one straight line. The fact that so much easy money has been made points to a very real period of correction. Hubris comes before the fall and all that stuff.... anyways, I'm done in this thread for now have fun filling it with garbage everyone!

[Somz1]

Anyway I don't think we have to care what John McAfee thinks,he's a business man and he clearly said money is with Johan Wu so that's what turned  him to bch
In the end that's what businessmen do, they have no regard for anything other than profits,so screw his opinion on bitcoins,we don't have a give flying duck

[x2666]

Anyway I don't think we have to care what John McAfee thinks,he's business man and he clearly said money is with Johan Wu so that's what turned  him to bch
In the end that's what businessmen do they have no regard for anything other than profits,so screw his opinion on bitcoins,we don't have a give flying duck

You're either very stupid or a skilled shill trying to dissuade stupid people from uncovering the truth. I find both prospects to be plausible which is disturbing. This forum is a horrible, horrible place.

[Somz1]

Anyway I don't think we have to care what John McAfee thinks,he's business man and he clearly said money is with Johan Wu so that's what turned  him to bch
In the end that's what businessmen do they have no regard for anything other than profits,so screw his opinion on bitcoins,we don't have a give flying duck

You're either very stupid or a skilled shill trying to dissuade stupid people from uncovering the truth. I find both prospects to be plausible which is disturbing. This forum is a horrible, horrible place.

What I said was btc community don't have to care what John McAfee or any other business men think about bitcoin or future bitcoin prices
I'm not dissuading anyone from anything,just stating my opinion

[TrumpBump]

Where do the Blockstream/Core/segwitters expect the miners to go once LN is activated taking a majority of transactions off chain, basically skimping them of transaction fees?
I think they may very well have just answered that question preemptively.

Stick to your script, #NOFOMO

[mindrust]

Where do the Blockstream/Core/segwitters expect the miners to go once LN is activated taking a majority of transactions off chain, basically skimping them of transaction fees?
I think they may very well have just answered that question preemptively.

Stick to your script, #NOFOMO

They can go to hell, That's the pure purpose of the LN.

To reduce miner dependency.

[Mrpumperitis]

Where do the Blockstream/Core/segwitters expect the miners to go once LN is activated taking a majority of transactions off chain, basically skimping them of transaction fees?
I think they may very well have just answered that question preemptively.

Stick to your script, #NOFOMO

They can go to hell, That's the pure purpose of the LN.

To reduce miner dependency.

i hope your talking about segwit ,blockstream
if your mean the miners..the people that have poured so much money into keeping the system secure since its creation...mining at a loss many times (me inc)..then you have lost the plot completely.
You have no understanding of how bitcoin got and will get value.

if you want a coin without miners..theres many to choose from, go there

[TrumpBump]

Where do the Blockstream/Core/segwitters expect the miners to go once LN is activated taking a majority of transactions off chain, basically skimping them of transaction fees?
I think they may very well have just answered that question preemptively.

Stick to your script, #NOFOMO

They can go to hell, That's the pure purpose of the LN.

To reduce miner dependency.

Finally! A bit of honesty from the left! I was being sarcastic when I said "stick to the script". You just showed Core's hand, man. Thank you but lol.

[tomkat]

BTC split from "The" Bitcoin chain via segwit.

BCH split from "The" Bitcoin chain via raising the block size.

Both forks implemented changes, thus while one kept the stock ticker of BTC and the infrastructure built around the BTC ticker on trade platforms, it is not inherently the defacto Bitcoin.

...

Yes, both chains should be considered forks of the original chain and both should change their names.
There're 2 types of Bitcoin now: Cash and Segwit.

[Savik]

BTC split from "The" Bitcoin chain via segwit.

BCH split from "The" Bitcoin chain via raising the block size.

Both forks implemented changes, thus while one kept the stock ticker of BTC and the infrastructure built around the BTC ticker on trade platforms, it is not inherently the defacto Bitcoin.

...

Yes, both chains should be considered forks of the original chain and both should change their names.
There're 2 types of Bitcoin now: Cash and Segwit.

^^^^ This exactly 1000%

Both have their purpose and both will succeed. The world is big enough for BCH and BCS (and even B2X).

Someday you can tell your grandkids about what life was like when you used to own good ole BTC Bitcoins. And yes, your grandkids will think you're nucking futs when you tell them about when BTC was under $1000

[Mysticus]

https://medium.com/@jonaldfyookball/mathematical-proof-that-the-lightning-network-cannot-be-a-decentralized-bitcoin-scaling-solution-1b8147650800

Excellent article !

And finally, what one considers Bitcoin is now open to interpretation and simply because one fork managed to politically keep the ticker BTC does not mean that it is in some way more or less inherently entitled to the name of the main chain.
____________________________

BCH is Bitcoin

BTC is Bitcoin

If a tree has two branches, you do not consider the two branches to be separate from the tree. At the time of the split, there was no "correct" main chain, just the one which was perceived to be the main chain because they used their political positioning to maintain the original ticker of btc. The valuation of these two forks is in flux, people are still struggling to grasp the technological, political, and economic concepts at play here. There is no clear winner yet, this will take months to settle.
_____________________________

BTC split from "The" Bitcoin chain via segwit.

BCH split from "The" Bitcoin chain via raising the block size.

Both forks implemented changes, thus while one kept the stock ticker of BTC and the infrastructure built around the BTC ticker on trade platforms, it is not inherently the defacto Bitcoin.

If BCH manages to maintain the majority hashing power and prices rise to support it, it will become the chain which is used and referred to as the main Bitcoin.

Obviously, this could not happen within the same day of launch, or week, or maybe even month or months. This will take some time to play out. Right now there is a great deal of uncertainty among investors, traders, and miners.

A great deal hold both of their coins, BTC and BCH and use BTC + BCH to calculate the overall bitcoin price, which is a sensible way of understanding this.
____________________________

Finally, when somebody says Bitcoin, it is now a general term which could be perceived to mean BCH or BTC.

There is a lot of doublespeak around this situation, many people are vocal about supporting one side while others are silent and willing to follow whichever appears to be 'winning'. This is like poker, people may not want to telegraph their moves because there is no clear advantage in doing so. Only time can tell where this leads.

+ 1000  !!!

[grasshpr]

BTC split from "The" Bitcoin chain via segwit.

BCH split from "The" Bitcoin chain via raising the block size.

Both forks implemented changes, thus while one kept the stock ticker of BTC and the infrastructure built around the BTC ticker on trade platforms, it is not inherently the defacto Bitcoin.

...

Yes, both chains should be considered forks of the original chain and both should change their names.
There're 2 types of Bitcoin now: Cash and Segwit.

^^^^ This exactly 1000%

Both have their purpose and both will succeed. The world is big enough for BCH and BCS (and even B2X).

Someday you can tell your grandkids about what life was like when you used to own good ole BTC Bitcoins. And yes, your grandkids will think you're nucking futs when you tell them about when BTC was under $1000

hahaha I like this type of predictions
on the other hand dollar may be like.. yes sir, please, this ice cream only costs 700 usd, very cheap and good taste

[seek4dream]

BTC split from "The" Bitcoin chain via segwit.

BCH split from "The" Bitcoin chain via raising the block size.

Both forks implemented changes, thus while one kept the stock ticker of BTC and the infrastructure built around the BTC ticker on trade platforms, it is not inherently the defacto Bitcoin.

...

Yes, both chains should be considered forks of the original chain and both should change their names.
There're 2 types of Bitcoin now: Cash and Segwit.

^^^^ This exactly 1000%

Both have their purpose and both will succeed. The world is big enough for BCH and BCS (and even B2X).

Someday you can tell your grandkids about what life was like when you used to own good ole BTC Bitcoins. And yes, your grandkids will think you're nucking futs when you tell them about when BTC was under $1000

I belive BCH holders will be as happy as BTC holders in the end, if not happier.

[mindrust]

Where do the Blockstream/Core/segwitters expect the miners to go once LN is activated taking a majority of transactions off chain, basically skimping them of transaction fees?
I think they may very well have just answered that question preemptively.

Stick to your script, #NOFOMO

They can go to hell, That's the pure purpose of the LN.

To reduce miner dependency.

i hope your talking about segwit ,blockstream
if your mean the miners..the people that have poured so much money into keeping the system secure since its creation...mining at a loss many times (me inc)..then you have lost the plot completely.
You have no understanding of how bitcoin got and will get value.

if you want a coin without miners..theres many to choose from, go there

Keeping the system secure should have given them any rights to change the network whatever they liked. LN is going to fix this. (probably)

Actually that would be good if everybody had a chance to buy miners but when China produces >%95 of the miners and Bitmain does >90%, this crap is clearly not functioning as intended.

If we were mining with GPU's, then i wouldn't have any problems with miners voting.