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Author Topic: Information request about BTC/BCC after hardfork...  (Read 385 times)
FrenchBTC
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July 31, 2017, 07:11:48 PM
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 Hello,

1st of all sorry for my English (I'm French,1st message here and thanks to all of you for contributing to it ) but I have some questions I did'nt find any answer regarding the hardfork tommorow :

1) Will BCCs be used for selling and buying products (so also used as a money) or will it just be a "technical issue" for BTC resolved by this split ? In fact will it help having more faster transactions and less fees for BTCs or will the transactions be faster and cheaper only by using BCCs ?? If it's that, why will BCC have any value ??

2) I understood that same amount of BCC compared to existing BTCs will be created so a little bit more than 16 millions : BUT will there be also people continuing like a "parallel mining" to reach 23M BCCs in 2140 like for BTC ?

Thanks for your first answers !


Hello ! Would like to learn more about BTC...
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FrenchBTC
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August 01, 2017, 05:46:20 AM
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up, in case anyone has an answer !... Wink

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August 01, 2017, 05:59:35 AM
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Hello,

1st of all sorry for my English (I'm French,1st message here and thanks to all of you for contributing to it ) but I have some questions I did'nt find any answer regarding the hardfork tommorow :

1) Will BCCs be used for selling and buying products (so also used as a money) or will it just be a "technical issue" for BTC resolved by this split ? In fact will it help having more faster transactions and less fees for BTCs or will the transactions be faster and cheaper only by using BCCs ?? If it's that, why will BCC have any value ??

1) I understood that same amount of BCC compared to existing BTCs will be created so a little bit more than 16 millions : BUT will there be also people continuing like a "parallel mining" to reach 23 BCCs in 2140 like for BTC ?

Thanks for your first answers !


First,i think that hard fork will not occur.In case if it occurs and BCC were created,it would be just an altcoin and in no case,it would be a substitute for bitcoin.As we can see till now,we could not buy any products with any altcoins,same would be the case with bitcoin.Already,most of the popular exchanges have sid that they would not support BCC.So,BCCwould be useless and it would disappear in due course of time.
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August 01, 2017, 06:01:53 AM
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I understand the concept of the fork as well as bitcoin cash coming after the fork, but what will be the initial value of bitcoin cash? I'm having a hard time explaining it to a friend who also uses bitcoin and is confused by this as well. If you hold all your btc in a hardware wallet and therefore have say 10 btc, you will also have 10 bitcoin cash correct? What price would bitcoin cash be at if it forks at say $2900?
FrenchBTC
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August 01, 2017, 06:16:19 AM
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Hi , and thanks for your answers.

I understood we had to secure our BTCs in cold storage to be sure to have BCC in case of hardfork BUT really what I would like to understand is :

- do a lot of people say it will not have any consequence on BTC on long because it will only help BTC transactions to be more efficient (lower fees and able to deal with more transactions per time unit) or is there any risk for BTC because this split will create BCC with this advantages (more transactions / less fees but perhaps less secure) and let BTC with the same operating system ?

Hello ! Would like to learn more about BTC...
krishnapramod
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August 01, 2017, 06:25:11 AM
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Hello,

1st of all sorry for my English (I'm French,1st message here and thanks to all of you for contributing to it ) but I have some questions I did'nt find any answer regarding the hardfork tommorow :

1) Will BCCs be used for selling and buying products (so also used as a money) or will it just be a "technical issue" for BTC resolved by this split ? In fact will it help having more faster transactions and less fees for BTCs or will the transactions be faster and cheaper only by using BCCs ?? If it's that, why will BCC have any value ??

1) I understood that same amount of BCC compared to existing BTCs will be created so a little bit more than 16 millions : BUT will there be also people continuing like a "parallel mining" to reach 23 BCCs in 2140 like for BTC ?

Thanks for your first answers !



1. Some merchants do accept altcoins and if BCC survives long enough then it might be used for buying or selling products.

2. Segwit does solve the technical/scaling issue. In my opinion, this UAHF or split is just a hurried reckless decision which isn't going to have any impact on bitcoin and might not even be productive for the small number of people behind it.

3. Bitcoin, Segwit, LN, Schnorr signature (anti-spam), and then 2 MB increase in blocksize if necessary is more than enough for cheaper and faster transactions. BCC is another implementation of bitcoin protocol, a separate blockchain with different set of rules.

4. Bitcoin Cash preserves the existing blockchain at the time of split so all 1 BTC:1 BCC. Yeah so 16 million BCC would be created and possibly the cap would be similar to bitcoin, 21 million, mining on a different blockchain.

5. BCC is not Bitcoin, it is an altcoin and like thousands of altcoins it is not going to have any impact on BTC and if it somehow survives it would exist as an altcoin with a very much lower value than bitcoin.

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August 01, 2017, 06:28:17 AM
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You are best to consider it an altcoin.

It will not be supported by most services that now accept bitcoin, except for part of the exchanges and mining pools.

Value will never be the same as BTC due to the difference in support the two have (would be nice to double up on your money wouldn't it Wink).

FrenchBTC
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August 01, 2017, 06:53:22 AM
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Hi krishnapramod and NorrisK,

So thinking about point 2) comment (thanks for other points,ok for me) from you krishnapramod :
 "Segwit does solve the technical/scaling issue. In my opinion, this UAHF or split is just a hurried reckless decision which isn't going to have any impact on bitcoin and might not even be productive for the small number of people behind it."
and comment from NorrisK,
it confirms me that it's really difficult to understand why so many people involded in BTC want this split, because I also never understood the added value of the split BTC/BCC versus benefits of Segwit...

Hello ! Would like to learn more about BTC...
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