BCH threat to BTC?

[illinest]

I don't think it's a serious threat bit bitcoin as the number 1. It doesn't have to be for me, I'm not really bothered. It's free money, personally I just need to decide when to dump all of mine.

I don't think it's a serious threat to BTC, but I also thought it was insane to sell below < 0.1 BCH/BTC. That's where most people were selling, so they were bound to be wrong. I think it's all a question of what Bitmain does. They could decide to give the appearance of considerable miner support for BCH, and that could have a huge effect on the price. I'm sitting on my hands for the moment. I'll let this play out over the next few weeks before making any decisions.

[steamon]

So long everyone uses BTC for worth notifications there is nothing going on. I see this BCH just as a trading stock as others. In crypto world, alt coin BCH is an alt coin and nothing more. This are just traders speculating and bitmain mining it. I would avoid it for now and sell it when you can get a nice price for it. BTC = king still counts today.

I am not really worried about the future at this point. It's not about the transaction speed for Bitcoin. Bitcoin was first and everyone uses for deposits and everything as an entry way.

[Utrine]

So long everyone uses BTC for worth notifications there is nothing going on. I see this BCH just as a trading stock as others. In crypto world, alt coin BCH is an alt coin and nothing more. This are just traders speculating and bitmain mining it. I would avoid it for now and sell it when you can get a nice price for it. BTC = king still counts today.

The problem is that the Bitcoin Cash's network is not as congested as the bitcoin. So more people might use it.

[bustomi]

Still depends on the attractiveness of the community Do they prefer btc or bch, as well as selling power is very influential on each coin.

[Bigmacduck]

The fact that an AAPL stock is listed on the exchange is no threat for GOOGL per se. Both companies get their own investors and these are often the very same. Investing in both is like a hedge mechanism. Same with BTC and BCH.

[Fatunad]

After 1st aug BCH value getting down as it was expected and 2 days ago it was about 0.07btc/bch. It was also expected that it would be more down after 14th Aug as poloniex credited bch to their customer that day and was expected that it will me dumped.  But now it is surprising last two days .It price rise up nearly 0.2btc/bch. Is it threat to BTC market??

Its not actually a threat and that kind of price increase is just really a normal thinking back in the past when bch do exist on the market its price rose up on 1k usd and suddenly crash back again on 200 usd which means there still hype and somehow a manipulation on its price which we cant really consider for this coin to be a thread on Bitcoin itself. Original would still remain as original.

bcash is a threat because it uses the same miners as bitcoin with lower difficulty due to faster adjustments. its a threat because currently it is 125% more profitable to mine on bcash than btc. if miners jump ship for more profit btc blocks will slow and people will jump ship also.

bcash is VERY much a threat.

if bcash dont drop in value soon there will be dark days ahead for btc and crypto.

Well its your own view and i do respect that, you do have some points but its hard to believe that miners will jump directly on bcash.Maybe they will do such thing but for the sake on making money not for its development or support.Bitcoin will stand strong no matter what and i dont think also that community will replace Bitcoin for Bitcoin Cash but well who knows what would actually happen on next years to come.

[CrackedLogic]

Very funny lol  

The only funny thing is paying 5%-20% Bitcoin fee when buying standard things like hosting. So you see, Bitcoin is not meant for this, thats why Bitcoin Cash would be much better. But it does not threat the Bitcoin speculative investment, which it already is (and it works!).

You can change the transaction fee amount, just sayin'. But you're right in speculation with merchants transitioning over to bch for transactions, the legacy confirmations are too long imho.

But still BCC network isn't loaded with transactions and it hasn't been tested under load yet.
Do you believe that once a couple million users start flooding BCC chain with transactions it will remain cheap and fast? Bitcoin used to be like that 5 years ago, but times change. 5 years for a software is like 50 compared to aging of a man.

Obviously not, but btc is currently under load and can't keep up with what's going on now and that's not going to change. BCH does not have these problems currently, and in the event it does get flooded with heavy loads, it'll be a lot longer till that event due to it's larger block size.

[joromz1226]

After 1st aug BCH value getting down as it was expected and 2 days ago it was about 0.07btc/bch. It was also expected that it would be more down after 14th Aug as poloniex credited bch to their customer that day and was expected that it will me dumped.  But now it is surprising last two days .It price rise up nearly 0.2btc/bch. Is it threat to BTC market??

Of course not. BCH/BCC is more on hyped to others here, Bitcoin is not more on hype but showing the real benefits usages and features to anyone. BCH is no difference to other altcoin who did more on hying only. Even its getting higher it will not change my mind to shift on bcc/ bch still I will remain in bitcoin of course.

[Grrizz]

Very funny lol  

The only funny thing is paying 5%-20% Bitcoin fee when buying standard things like hosting. So you see, Bitcoin is not meant for this, thats why Bitcoin Cash would be much better. But it does not threat the Bitcoin speculative investment, which it already is (and it works!).

You can change the transaction fee amount, just sayin'. But you're right in speculation with merchants transitioning over to bch for transactions, the legacy confirmations are too long imho.

But still BCC network isn't loaded with transactions and it hasn't been tested under load yet.
Do you believe that once a couple million users start flooding BCC chain with transactions it will remain cheap and fast? Bitcoin used to be like that 5 years ago, but times change. 5 years for a software is like 50 compared to aging of a man.

Obviously not, but btc is currently under load and can't keep up with what's going on now and that's not going to change. BCH does not have these problems currently, and in the event it does get flooded with heavy loads, it'll be a lot longer till that event due to it's larger block size.

At the moment the mempool looks like it is mostly filled up with spam and/or cheap asses (really low fee Txs) so its not actually very expensive to make a Tx, when there's a rush it does start to fill up though with valid Txs increasing the needed fees however by the looks of things segwit will be more than enough to empty the mempool and keep spam attacks/busy periods under control, at least for now.

The reality is neither solution is a good one to the scaling problem, both will alleviate the problem short term with blocksize increases being a slightly longer term solution that adds a fair bit of bloat to the blockchain and segwit being a shorter term solution that fixes several other flaws while being less disruptive. IMO they should deploy segwit and hold off on a hardfork to see if they can come up with a better solution or if ideas like sidechains workout OK, if the breathing room segwit affords runs out before a better solution presents itself then we can look at a blocksize increase but personally I dont see the need to rush it all out right now. I dont really see the value of BCH other than as a stop-gap solution or more likely a cash grab taking advantage of the current debates.

[pixie85]

Still depends on the attractiveness of the community Do they prefer btc or bch, as well as selling power is very influential on each coin.

If we look at the current state it looks bad dot BCH.
BCH has not much promotion, not much value, not much support in the community. They don't have as many exchanges, not many wallets to choose from, no merchants that accept it. When people think of BCH they see Bitcoin's little brother that's just waiting for the older one to die so it can take the crown.

[marky89]

I think we can assume that bitcoin is not threatened by any coin. Alt coins are created in the hope to be a huge succes like bitcoin, but as proven, no coin has been a threat this far.

If there is any coin we should be looking at to put some pressure in the future is etherium imo.

Then what is your position on hard forks? Hard forks are synonymous with altcoins, since both are incompatible forks of the original network. So if, in November, Segwit8x moves forward and a majority of hashpower follows that chain, will the market consider it to be an altcoin? Or will they call it "BTC"? I think the reason that the Segwit8x developers named their client "btc1" was exactly to address this situation. If it came down to a real network split they wanted exchanges to refer to Segwit8x as "btc1" and the legacy chain as "btc2"...not a bad advertisement right out of the box!

As for Ethereum, it's been said before. They serve very different purposes. ETH =/= digital gold, so I don't see ETH and BTC as competitors.

[charlton]

Why would miners want to compete with Bitmain in mining BCH when they know that Bitmain has the (significant) ASIC-Boost advantage?

[squatter]

Why would miners want to compete with Bitmain in mining BCH when they know that Bitmain has the (significant) ASIC-Boost advantage?

Do we even have evidence yet that AsicBoost has been used in the wild? Last I heard, we didn't. More importantly, what matters is mining profitability regardless of Bitmain's hash power. If it's profitable to mine BCH, it's profitable. That's all that should matter to rational miners. Miners then have to compare the short term profitability of mining BCH vs. the long term profitability of mining BTC and the prospect of a network split that could damage the value of BTC.

[illinest]

BCH has not much promotion, not much value, not much support in the community. They don't have as many exchanges, not many wallets to choose from, no merchants that accept it. When people think of BCH they see Bitcoin's little brother that's just waiting for the older one to die so it can take the crown.

I think the idea here for Bitmain was to test the waters and experiment with a Bitcoin hard fork. The old way with XT and Unlimited clearly wasn't going to work. So they tried an opt-in hard fork. This way, instead of trying to "force" the community to upgrade, they can try to show a gradual, organic adoption and/or overtaking of the legacy chain.

Right out of the gate, BCH has a lot of exchange support. Bitfinex and Poloniex are huge, and Coinbase will give their customers their BCH. Maybe they'll open markets for it in the future. Bitmain can also gradually point more and more hash power at it, making it look like miners are responding to market demand. As long as its profitable per the exchange rates, it will look plausible to the market, and the public might further buy into the narrative.

[xuan87]

For me it doesn't seems like a threat at all, Bitcoin still stay strong at the top and the price is still stable over 4000$, for BCH it's just another pump and dump playing, the price is not stable, the rising is fast and the dropping is fast, BCH is lack of investors support

[sotoshihero]

For me it doesn't seems like a threat at all, Bitcoin still stay strong at the top and the price is still stable over 4000$, for BCH it's just another pump and dump playing, the price is not stable, the rising is fast and the dropping is fast, BCH is lack of investors support

Not a threat at all also in my opinion. BCC or BCH is just another altcoins  IMHO. Also, this november there is another fork being talked. Another Bitcoins split is on the pipeline. But still how many they split and replicate it, Bitcoin is still the original. LOL

[kheysha]

After 1st aug BCH value getting down as it was expected and 2 days ago it was about 0.07btc/bch. It was also expected that it would be more down after 14th Aug as poloniex credited bch to their customer that day and was expected that it will me dumped.  But now it is surprising last two days .It price rise up nearly 0.2btc/bch. Is it threat to BTC market??

I think the BCH price increase does not affect the demand and bitcoin prices.
When the BCH price goes up I do not see that the BTC price is falling.
Do you see when the price is 1 BCH = 0.4 BTC? BTC is still fine.

[squatter]

For me it doesn't seems like a threat at all, Bitcoin still stay strong at the top and the price is still stable over 4000$, for BCH it's just another pump and dump playing, the price is not stable, the rising is fast and the dropping is fast, BCH is lack of investors support

Not a threat at all also in my opinion. BCC or BCH is just another altcoins  IMHO. Also, this november there is another fork being talked. Another Bitcoins split is on the pipeline. But still how many they split and replicate it, Bitcoin is still the original. LOL

Do you think ETH is a replica, and ETC is the real chain? Are all hard forks illegitimate? I don't like the idea of hard forks, because they pretty much guarantee a split of the network. That's why I'm worried about the November fork... there's a lot more support from BTC services and miners for that one. Even BCH is gaining traction. All of this may end up damaging Bitcoin's network effect, if we keep splitting networks. They may not be the "original" BTC, but what do newcomers to cryptocurrency and prospective investors see? It makes it look like BTC can continually be diluted to those who don't understand forks...

[CoinFoxs]

I don't think so bitcoin cash is a threat to bitcoin or bitcoin market, though it has potential to increase their price but still there is no replacement available for bitcoin yet. Because bitcoin getting stronger day by day as world known countries start supporting bitcoin.

[aisyah88]

I don't think so bitcoin cash is a threat to bitcoin or bitcoin market, though it has potential to increase their price but still there is no replacement available for bitcoin yet. Because bitcoin getting stronger day by day as world known countries start supporting bitcoin.

I agree with you, even though it looks like there is a similarity in the name, it does not mean it's the same as the different goals that make bitcoin strong for now, and see bitcoin continues to go crazy day by day to show the world that the bitcoin potential is good to replace Rail currencies in each of their respective countries.