[2017-11-10]Bitcoin Classic Shuts Down As Staff Claim Bitcoin Cash Will Rule

[BTCexpert1]

Bitcoin Classic has confirmed it is shutting down as developers claim Bitcoin Cash (BCH) will become ‘Bitcoin’ by May 2018.

In an official statement Thursday, release manager Tom Zander praised BCH and said its validity meant that Bitcoin Classic had “fulfilled its promise.”

“It is now up to you which chain will gain the most traction. It is now up to the next billion people to start to use Bitcoin Cash. In at most six months I'm sure we'll just drop the ‘Cash’ and call it ‘Bitcoin,’” he stated.

BCH shot up in price over 35 percent in anticipation of a new hard fork set for Nov. 13, reaching its highest value almost since it debuted.

In the aftermath of SegWit2x’s apparent failure, funds appear to be flowing into the rival Bitcoin fork as investors hedge bets over a duplicate chain appearing.

“The fact that the Legacy chain is stuck at 1 MB, and likely always will be, confirms the Cash chain's viability. Now the market will decide,” Zander added.

Until news of the hard fork, BCH had largely held a sideline position beyond significant publicity efforts led by Bitcoin.com’s Roger Ver.

Now, further public support is coming from cryptocurrency figures including Rick Falkvinge, founder of the Finnish Pirate Party and regulator commentator.


Source https://cointelegraph.com/news/bitcoin-classic-shuts-down-as-staff-claim-bitcoin-cash-will-rule-in-6-months

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[aso118]

This is good news . In effect, there are only 2 distinct groups - the big blockers and the small blockers. All others are variants of these ideas. It is best to have two major branches and let the market decide their worth. No other distractions.

[Isaak Bitcoin]

Excellent, the classic was originally unnecessary. I hope now bitcoin will become more expensive.

[btcton]

I just looked this up through separate means as I had never heard of the term Bitcoin Classic before. I read that it was a planned fork (or one that already happened?) and that it had the same purpose as Bitcoin Cash. Is this even considered news given the fact that they made up less than 1% of running nodes? Their influence went down over time since 2016, so can they even be considered relevant anymore? That being said, Bitcoin Cash has increased in value quite a bit in the past couple of days, but most of the trading volume I read came from Korea. I say nothing is certain for Bitcoin Cash until things stabilize at one point, just like Bitcoin's current price. Whether it is better support or just a correction for these events remains to be seen.

[fisheater]

sounds interesting... I don't think bitcoin cash will take over bitcoin though. there are simply too many interests in the bitcoin, they will not let it be replaced.

[coinjack1337]

I'm pretty sure Tom Zander is correct. Tbh, Bitcoin is not a good coin. It was the first and is hyped by media a lot. Technologically, Bitcoin Cash is way more valuable and i think People will start to realize it.

[N0ssi]

I'm pretty sure Tom Zander is correct. Tbh, Bitcoin is not a good coin. It was the first and is hyped by media a lot. Technologically, Bitcoin Cash is way more valuable and i think People will start to realize it.

I have the same opinion. The transaction fees of BTC just suck. I'm excited to see what will happen in the next weeks and months.

[Naughtid]

Excellent, the classic was originally unnecessary. I hope now bitcoin will become more expensive.

Very good predication. The Bitcoin Cash rose 57% today.

[Karartma1]

Bitcoin Cash has been created for a reason: it is like Ethereum now. Jihan and Roger can now wake up and change it the way they like.
Don't be surprised when they will change even the number of coins in circulation.

[hatshepsut93]

This is good news . In effect, there are only 2 distinct groups - the big blockers and the small blockers. All others are variants of these ideas. It is best to have two major branches and let the market decide their worth. No other distractions.

There's no difference how many forks claiming to be Bitcoin are out there, because Bitcoin is the coin supported by Bitcoin community. Sure, at some point the whole community can change their definition of Bitcoin, but without it it's just a minority of users forking themselves off to an altcoin chain.

Bitcoin Cash has been created for a reason: it is like Ethereum now. Jihan and Roger can now wake up and change it the way they like.
Don't be surprised when they will change even the number of coins in circulation.

BCH is worse than Ethereum, because Ethereum is at least innovative project, even if it will fail, while BCH is just a copypaste of Bitcoin which could have been made by anyone.

[coolcoinz]

They got some facts wrong, mainly this: BCH shot up in price over 35 percent in anticipation of a new hard fork set for Nov. 13, reaching its highest value almost since it debuted.
It wasn't due to the anticipation of the fork but because it got cancelled. They knew there will be no other alternative to Bitcoin so they put the money they were going to put into 2x in BCH. That was to be expected, although BCH will not become Bitcoin in 6 months. It's impossible.

[Slow death]

Bitcoin Classic has confirmed it is shutting down as developers claim Bitcoin Cash (BCH) will become ‘Bitcoin’ by May 2018.

 

Bitcoin Cash = BCH

Bitcoin = BTC

We will see in May next year whether this "prophecy" has come true

“It is now up to you which chain will gain the most traction. It is now up to the next billion people to start to use Bitcoin Cash. In at most six months I'm sure we'll just drop the ‘Cash’ and call it ‘Bitcoin,’” he stated.

Well I've been wondering why altcoin cash is having a huge pump? $300 to $1100, it was a huge rise... Now I understand, some people are convinced that in a few months altcoin cash has become BTC, I think this is absurd and a very dangerous bet

[jekjekman]

Business strategy at its finest for Roger Ver's Bitcoin Cash though and a perfect timing for some other investors of BCC to support the FUD with regards with Bitcoin(original). Many people thinks that the cancellation of SegWit2x Hard Fork is a bad reputation to Bitcoin so when somebody tell them that BCC will rise and will change the place of the original one they will tend to pull out their investments to Bitcoin or any other cryptocurrency coin to put in on BCC in believing that it will grow and to ride the flow of it.

Nothing we can do though but to wait for the time that the prophecy will happen as it is a make or break for BTC and BCC.

[btcton]

Well I've been wondering why altcoin cash is having a huge pump? $300 to $1100, it was a huge rise... Now I understand, some people are convinced that in a few months altcoin cash has become BTC, I think this is absurd and a very dangerous bet

On the other hand, it is a good time for those that have some Bitcoin Cash they still need to get rid of. I know of some services I use that only recently gave Bitcoin Cash access to customers which had been locked out as they did not actually have access to the private keys. For example, Blockchain.info created an interface to withdraw Bitcoin Cash. Because of this, I still had some inside. It is true that I could have accessed it before, but the amount was small enough for me to not care about waiting for a pump such as this one. Dumping it now will ensure that you get the most out of Bitcoin Cash in Bitcoin.