Why is BCH not King?

[Games.Bitcoin]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

[1714850076]

1714850076

[1714850076]

1714850076

[1714850076]

1714850076

[1714850076]

1714850076

[freightjoe]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

Because most Bitcoin "investors" are fragile scared people who will not admit that buying into (any) cryptocurrencies is going to wreck their own economy when the bubble bursts. Therefore they also did not switch to BCH because to them BTC is now a religion they are clinging to in the hope that it will be their salvation.

[bob123]

The main reason probably is because BCH is nonsense. Anyone switching from BTC to BCH will lose in mid- and long-term.
The reasons for that are quite simple:

1) There haven't been any tests on how the whole network reacts to 8x higher blocksize. BCH didnt have any "big blocks" yet. There are currently at about 20-50 KB (!).
No considerations have been made that 8x bigger blocks mean 8x bandwith, storage and verification time is needed. So this may work out.. but it could also equally not work out and completely collapse.

2) An on-chain scaling is not scalable. It may be enough for the next 3-5 years. But whats next? Change blocksize to 16, 32, 64 MB ? If blocksize gets increased even more a lot of bandwith will be only
used to keep the BCH network alive. And additionally the verification time of one block will exceed the average time it needs to create a block. This will lead to extreme(!) centralisation, because only miner
with super computer will be able to verify the 'old' block and mine a new block before "standard" miner have verified the last block.

BCH is doomed to fail. Wheter it will happen when blocks reach 6-8 MB, or later on..
The only tangible scaling solution would be to add a second layer "onto the blockchain". Thats where the lightning network comes in play.

[FlightyPouch]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

Many people are thinking that the people behind these might be just there to earn big amount of money. They are thinking that it might be a scheme, I don't blame them because they are just being cautious.

Also, they don't think that BCH will not be as strong as Bitcoin because it is just another alternative coin forked out of the real bitcoin. No matter what is the goal or the feature of that coin, as long as it is not bitcoin, for the people it is just an altcoin. People will always stick to the original, even though it is dumping, like what happened in the past few days, they will keep holding and not move to other altcoin.

[Monartis]

Presumably awareness and visibility play a part, together with the lack of real world use for BCH right now?

[Bytem3]

Bitcoin is the only crypto covered in mainstream media (mostly). Most know cryptocurrency and ofcourse a lot of influential people want to keep it that way.

[nitrousteam]

BCH is a new digital currency that just started its existence and BTC is prevailing for all these years and with that prevailing, it is making new standards every day. These standards are set in the forms of the approvals for BTC acceptance into transaction community that was not connected to decentralized payment before. BTC has its followers, faithful people which are secure with the main coin. BTH has yet to make its own standards. Even if it rose very fast on the market it is still practically new.

[buwaytress]

How about we keep it to very simple, very basic facts? A recent study showed that 88% of Japanese surveyed had heard of Bitcoin. Care to throw a careless guess about how many of them would have heard about Bitcoin Cash? I'm willing to bet that the most optimistic estimate wouldn't put even half of those who knew of Bitcoin to also know of Bitcoin Cash.

Within my own circle of associates outside crypto industry, perhaps fewer than half would have even heard of Bitcoin, let alone Bitcoin Cash. From the questions on social media already there is so much confusion with people mixing up Bitcoin Cash with Classix, XT, Bitcoin Gold, Segwit and Segwit2x. Why? Because amongst all the pretenders to the crown, no one can distinguish one from the other.

Think of the real world. To depose a recognised King, you'd need supporters of your own, you'd need people to come under your banner and declare you rightful king. How can a pretender be king if few have even heard of it?

[LoudA__]

Bitcoin is the only crypto covered in mainstream media (mostly). Most know cryptocurrency and ofcourse a lot of influential people want to keep it that way.

Most of the crypto currency follows the movement of the original crypto currency so I think they must stick to Bitcoin.

If you can remember the pump of BCH the past few days it is really shocking, I thought many people will be moving all of their coins into BCH, but even of the price is positively increasing, the impression of the people and investor here is negative the more reason people doubted these altcoin. It is funny that the recent pump of it makes my friends think that it is just a scheme and they may not move their money into these altcoin.

[RoommateAgreement]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

you can't just make statements like this based on your gut feeling. why do you think BCH is bitcoin 2.0? it doesn't do anything special, it just has a 8 MB block while bitcoin has potentially 4 MB blocks which is being increased slowly!
not to mention that all the issues that the 8 MB block size increase will introduce. specially in long term. it will easily cut the number of nodes which are currently spread across the world down to at least 1/3 of what it is now. because people are not going to run a full node when blockchain size increases 1.1 GB per day.
and what will you do when the 8MB blocks were full in the future? when the BCH mempool was overflowing with unconfirmed transactions and fees were through the roof? another hard fork to 16MB, 32, 64,... or 1 TB per block?!!

[NeuroticFish]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

Basically because if you make a clone shitcoin, however you call it and no matter how big the advertising is, it won't change the fact it's just an useless clone.
There are a lot of altcoins better than BCH. Then there's Bitcoin much better than any of the altcoins (including those that try to mislead people by using Bitcoin in their name).

[Shamie1002]

Simply because bitcoin was the first ever made coin. So presumably, it will be the fave of cryptocurrencies. Face meaning it will be advertised through the image of bitcoin. More users will adapt, use, and trust in. When it becomes more in demand, it becomes attractive to investors and it will be used in different projects. It will become mainstream and continuous process.
Since that bitcoin it already mainstream, guessing that some investors hesitate to use other coins because no one tries to take risks or to lose any investments if such coins will end dumped. Zero value compared to bitcoin that may survive it longer because of the massive adaptation.

[cocoliuis999]

I don't think BCH can become a king, because people are in agreement with the identity of virtual coins. Bitcoin will always occupy the leading position. The conclusion is drawn from the transaction distribution of market funds

[CodyAlfaridzi]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

No, it's not. BCH is far from being Bitcoin 2.0. More like Shitcoin 999.0, or Failed-Bitcoin-fork 4.0 (after XT, BTU, Classic)

Btw, the cancellation of segwit2x is the main reason BCH took off in popularity recently. Roger, Jihan & co are supposedly supporting Bitcoin2X, but they have to turn to BCH after many parties backed away from the New York Agreement and the fork canceled.

I don't know why these people really want to sort of taking over Bitcoin. Recently, Bitcoin.com wallet is intentionally creating Bitcoin Cash wallet as their default wallet and calling it "Bitcoin". What a dirty trick. They are risking people, especially newbies who just got into Bitcoin. These people could lose their money because of this scam. If Ver and co keep doing something like this, it's obvious why BCH won't gain any real supporters from the community. Most people would be despised of that.

[Jet Cash]

Just because it's called Bitcoin, it doesn't mean that people will switch to it. The US didn't switch to the Hong Kong Dollar just because it is called the dollar. However the Hong Kong dollar and the US dollar can co-exist, but most people assume that when somebody refers to Dollars, they mean the US dollar.

[tryer12]

There's no reason to move , When the time will come that we will need this upgrade I'm pretty positive that there will be a consensus for upgrading the original chain.

[Theta Labs]

Because no matter how much the BCH guys try to argue it, they are the fork and you can't just "take over" the BTC name and market cap.

[patt0]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

Bitcoin and and bcash have completely different views for the future. Bitcoin is evolving as a digital commodity, and bcash is just trying to pursuit the new payment method option. Bitcoin is way ahead of every other cryptocoin out there, if we talk about the digital commodity path. Institutional money is cumming to the market, so bitcoin is on it's way to become a new asset in Wall Street. No other coin is getting any attention from big investors, like BTC is. Except for maybe ethereum, but for completely different reasons, since ether works more as a platform to invest in "start ups".

As for bcash, like I said, is completely focused in being a form of payment, so it's not really competing with bitcoin. Is actually competing with dash, or monero, and to be honest I would prefer any of these two in comparison to bcsh. So for me, the only reason we see bcash this high, when we compare it to dash for example, is because it is taking advantage of the "bitcoin name".

As for technology, it is ahead of bitcoin right now, in terms of transactions, but again that is not important for BTC right now, because it is evolving as "digital gold" and not a payment option. In the future, the Lightning network will be a much better option for scalability than the block increase, so bcash will continue to struggle, and BTC will be able to move as a well establish digital asset, to a form of payment.

For me, this is the reason why bcash is not king, and never will be, and I still think it will probably fail as a form of payment, when compared to the other options out there.

[Agostosmori]

Why do you guys think we didn't move to BCH from BTC? Even though the segwitx2 was cancelled, BCH still seems to be Bitcoin 2.0

Because most Bitcoin "investors" are fragile scared people who will not admit that buying into (any) cryptocurrencies is going to wreck their own economy when the bubble bursts. Therefore they also did not switch to BCH because to them BTC is now a religion they are clinging to in the hope that it will be their salvation.

The way you reacted only means that you own a lot of BCH and will benefit a lot once the price goes higher. BCH can never outshine BTC because they are just the same and reason why people like you wants to shift to BCH is because it has lower difficulty level and if you are going to mine it you will just be like the people who was mining bitcoin 5 years ago. And your investment can buy more BCH than BTC. People like you are the ones who are just making things complicated and also making most of new investors loss more of their investments.

[adpinbr]

Because BCH is just altcoins did you see that Bitcoin Cash is tradable in bitcoin? Then it's just a part of bitcoin that called altcoin. Know for it mate Bitcoin Cash cannot take over the power of bitcon, Even roger ver is the CEO of it lol