Bitcoin vs Bitcoin Cash

[ajochems]

Bitcoin is always best as compared to  Bitcoin cash.In a year, we can expect huge raise in the price of bitcoin cash.Bitcoin had good support in the crypto currency market.Now the price of bitcoin cash is on the second place next to bitcoin.

[JollyGood]

Bitcoin is always best as compared to  Bitcoin cash.In a year, we can expect huge raise in the price of bitcoin cash.Bitcoin had good support in the crypto currency market.Now the price of bitcoin cash is on the second place next to bitcoin.

How can you be so sure BCH will be second to BTC in a years time?

[JollyGood]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

The point, as far as I understand it, was to make a more functional version of Bitcoin. Remember, the community was paralyzed with unreasonable transaction fees for over a year and there was consistently a backlog of hundreds of thousands of unconfirmed transactions. The block size was increasingly being viewed as inadequate to scale Bitcoin to an expanding user base (and probably still isn't, btw), and the people behind the split were seeking to address this rather than continue in the malaise since it was becoming increasingly clear that Bitcoin's leadership was unwilling or unable (and same difference, really) to institute changes that would keep Bitcoin competitive in the crypto space. It very much felt like the first mover advantage was being squandered and that Bitcoin could eventually fade to irrelevance, and the splitters sought to take corrective action. Whether or not any of that was accomplished or the motives remained pure after the split is another discussion entirely, but at the point of the split, there were entirely logical reasons for it.

What I find interesting is that the split parallels the religious split of the Lutherans from the Catholics (to use a somewhat obscure in this context but totally relevant historical analogy). The Lutherans believed the Catholic church was rife with corruption and special interests for selling indulgences to forgive sins, and believed that splitting from the church and creating their own version of the religion that was more pure and true to the original point of the church was the only way to save their own souls. Essentially, Bitcoin Cash was making the same argument- that splitting and adhering to Satoshi's original vision (which included increasing the block size) was the only way to save Bitcoin. To put it another way, Lutherans were the first hard fork.

Great analogy mixing religious theology along with technological advances. Brilliant way to study the situation between the religious fork and the crypto fork 

[jaysabi]

So after the fork happened and Bitcoin Cash was created, as of today on CoinMarketCap it shows:

Bitcoin
capital $118,038,167,261
price $6,962.42
circulating 16,953,612
volume last 24 hrs $4,671,340,000   

Bitcoin Cash
capital $11,306,077,844
price $663.06
circulating 17,051,288
volume last 24 hrs $286,801,000   

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

The point, as far as I understand it, was to make a more functional version of Bitcoin. Remember, the community was paralyzed with unreasonable transaction fees for over a year and there was consistently a backlog of hundreds of thousands of unconfirmed transactions. The block size was increasingly being viewed as inadequate to scale Bitcoin to an expanding user base (and probably still isn't, btw), and the people behind the split were seeking to address this rather than continue in the malaise since it was becoming increasingly clear that Bitcoin's leadership was unwilling or unable (and same difference, really) to institute changes that would keep Bitcoin competitive in the crypto space. It very much felt like the first mover advantage was being squandered and that Bitcoin could eventually fade to irrelevance, and the splitters sought to take corrective action. Whether or not any of that was accomplished or the motives remained pure after the split is another discussion entirely, but at the point of the split, there were entirely logical reasons for it.

What I find interesting is that the split parallels the religious split of the Lutherans from the Catholics (to use a somewhat obscure in this context but totally relevant historical analogy). The Lutherans believed the Catholic church was rife with corruption and special interests for selling indulgences to forgive sins, and believed that splitting from the church and creating their own version of the religion that was more pure and true to the original point of the church was the only way to save their own souls. Essentially, Bitcoin Cash was making the same argument- that splitting and adhering to Satoshi's original vision (which included increasing the block size) was the only way to save Bitcoin. To put it another way, Lutherans were the first hard fork.

Great analogy mixing religious theology along with technological advances. Brilliant way to study the situation between the religious fork and the crypto fork 

The more you think about it, the more appropriate it becomes as an analogy. Both sides are rather zealous in their representations that they and only they are the true adherents to the original vision of the idea (either Christianity in this example, or the concept of Bitcoin and Satoshi's original vision where Satoshi is practically a prophet), and both sides spend a great deal of time and energy trying to convert people to their side and vilifying the other side as heretics who are corrupting a pure idea for their own gain. In Christianity, it was the Catholic Church that lost its way and was corrupted and in crypto, it's Bitcoin's Board that refuses to address the block size. The spam attack on the BTC blockchain to try and make it unusable is practically a holy war to try and force people into converting to BCH. The way people behave in both religion and the crypto schism between BTC and BCH, from the self-righteous attitudes they take in regards to the other side to the vilifying or attempts to harm the other system, are strikingly similar.

[JollyGood]

The more you think about it, the more appropriate it becomes as an analogy. Both sides are rather zealous in their representations that they and only they are the true adherents to the original vision of the idea (either Christianity in this example, or the concept of Bitcoin and Satoshi's original vision where Satoshi is practically a prophet), and both sides spend a great deal of time and energy trying to convert people to their side and vilifying the other side as heretics who are corrupting a pure idea for their own gain. In Christianity, it was the Catholic Church that lost its way and was corrupted and in crypto, it's Bitcoin's Board that refuses to address the block size. The spam attack on the BTC blockchain to try and make it unusable is practically a holy war to try and force people into converting to BCH. The way people behave in both religion and the crypto schism between BTC and BCH, from the self-righteous attitudes they take in regards to the other side to the vilifying or attempts to harm the other system, are strikingly similar.

When you put it that way the similarities are stark but there is a fundamental difference  

As it stands Bitcoin Cash is hanging on in there but has not even slightly dented Bitcoin or the enthusiasm surrounding it. If the whales were to create a fork from Bitcoin with a view to helping the community long term then Bitcoin Cash should have been pushed through with a clearer and stronger mandate with advanced attributes not possessed by Bitcoin. Just the desire to show the Bitcoin Board (as you put it) that they could fork and create a new coin was never going to be enough. It seems the Bitcoin Cash creators always had an ulterior motive which was to reap financial benefits that fork would bring but would never part with their Bitcoin regardless. If they really believed in Bitcoin Cash those whales would have got rid of the Bitcoin and that is the fundamental difference between the two scenarios because both those Christian denominations followed their own religious edicts after the split without weaving in and out of each others' teachings and without holding on to the cloth of the other group just in case they needed jump ship and follow the other group.

In this case people who gained Bitcoin Cash as a result of the fork should sell all their Bitcoin and hold their Bitcoin Cash till their hearts content, that is if they actually believe in what they preach. Those holding Bitcoin who did not want the fork but received Bitcoin Cash should by all means sell them and follow the yellow brick road to Oz via Bitcoin.

[Bagaji]

The technology behind Bitcoin Cash it literary different from that of Bitcoin if am not mistaken but out of greed so group of people came together with the idea of desperation from Bitcoin which happen to be the Father of crypto currency. And you can see for your self from your analysis above that there was no serious reason what so ever to have created Bitcoin Cash.

[Jating]

The more you think about it, the more appropriate it becomes as an analogy. Both sides are rather zealous in their representations that they and only they are the true adherents to the original vision of the idea (either Christianity in this example, or the concept of Bitcoin and Satoshi's original vision where Satoshi is practically a prophet), and both sides spend a great deal of time and energy trying to convert people to their side and vilifying the other side as heretics who are corrupting a pure idea for their own gain. In Christianity, it was the Catholic Church that lost its way and was corrupted and in crypto, it's Bitcoin's Board that refuses to address the block size. The spam attack on the BTC blockchain to try and make it unusable is practically a holy war to try and force people into converting to BCH. The way people behave in both religion and the crypto schism between BTC and BCH, from the self-righteous attitudes they take in regards to the other side to the vilifying or attempts to harm the other system, are strikingly similar.

When you put it that way the similarities are stark but there is a fundamental difference  

As it stands Bitcoin Cash is hanging on in there but has not even slightly dented Bitcoin or the enthusiasm surrounding it. If the whales were to create a fork from Bitcoin with a view to helping the community long term then Bitcoin Cash should have been pushed through with a clearer and stronger mandate with advanced attributes not possessed by Bitcoin. Just the desire to show the Bitcoin Board (as you put it) that they could fork and create a new coin was never going to be enough. It seems the Bitcoin Cash creators always had an ulterior motive which was to reap financial benefits that fork would bring but would never part with their Bitcoin regardless. If they really believed in Bitcoin Cash those whales would have got rid of the Bitcoin and that is the fundamental difference between the two scenarios because both those Christian denominations followed their own religious edicts after the split without weaving in and out of each others' teachings and without holding on to the cloth of the other group just in case they needed jump ship and follow the other group.

In this case people who gained Bitcoin Cash as a result of the fork should sell all their Bitcoin and hold their Bitcoin Cash till their hearts content, that is if they actually believe in what they preach. Those holding Bitcoin who did not want the fork but received Bitcoin Cash should by all means sell them and follow the yellow brick road to Oz via Bitcoin.

If I may add, those Lutherans was just confined around Germany, Austria (if my memory serves me right) and didn't gain enough traction from the Catholic community, maybe they swayed a few but Catholics remain the dominant religious group throughout centuries and Lutherans didn't took off as expected.

Similar to what we are seeing today, after the split there was an attempt by BCH fanboys to overthrow Bitcoin, with negative attacks and spamming the bitcoin network, but they didn't succeed. Community knows better who are behind Bitcoin Cash, all greedy individuals who are trying to portray Bitcoin Cash as the new Bitcoin, but what happened? no support from our community. Just like what we have witnessed during the religious schism in the 15th-16th century.

[vina.lugtu]

I think bitcoin cash was created to have an alternative for bitcoin. We all know that bitcoin doesn't need an alternative but if you look at the market before, the more products they offer, the better. I think there will be a time were bitcoin cash will suddenly drop because of the low demand. Bitcoin will definitely do something to prevent this from happening but for some reason I think this will happen.

[Coin-1]

On every count Bitcoin beats Bitcoin Cash so the question arises, what was the point of creating Bitcoin Cash? Apart from making very rich bitcoin holding people even more wealthier by creating Bitcoin Cash and adding to their portfolio it seems that there was no need for it. I hear about transactions fees and groups of devs so on being better at Bitcoin Cash but in all honestly what was the point?

Did all those advocating the demise of Bitcoin actually exchange all their BTC for BCH? I doubt it.

To me it seems Bitcoin was always going to come out on top of that battle so why did those whales pushing for the fork really do it and create Bitcoin Cash?

Bitcoin Cash was created in 2017 because the minority of miners didn't approve a deploying SegWit technology in the blockchain. In such a way they kept the blockchain of Bitcoin with no significant changes. As a result, this technology wasn't very useful indeed. BCH has no famous brand, and now they consider BTC as a fork and struggle for the name "real" Bitcoin.

[JollyGood]

If I may add, those Lutherans was just confined around Germany, Austria (if my memory serves me right) and didn't gain enough traction from the Catholic community, maybe they swayed a few but Catholics remain the dominant religious group throughout centuries and Lutherans didn't took off as expected.

Similar to what we are seeing today, after the split there was an attempt by BCH fanboys to overthrow Bitcoin, with negative attacks and spamming the bitcoin network, but they didn't succeed. Community knows better who are behind Bitcoin Cash, all greedy individuals who are trying to portray Bitcoin Cash as the new Bitcoin, but what happened? no support from our community. Just like what we have witnessed during the religious schism in the 15th-16th century.

Nicely put. Having purchased "bitcoin.com" years ago to directly challenge "bitcoin.org" to try and influence the path forward simply because the whales had thousands of Bitcoin. Failing in that they added along with fancy slogans a host of PR in an attempt to take over the Bitcoin project by replacing it with Bitcoin Cash. Their exercise failed.

I have no interest in the politics between the BTC and BCH camps but I can safely say it seems Bitcoin Cash was created as a deliberate act to destroy and hijack Bitcoin under the guise of "we are doing it for Satoshi and his real vision for the sake of saving Bitcoin and helping the community".

Bitcoin Cash could have been a revolutionary innovation to maybe even succeed Bitcoin in the long run but in the end it seems a cheap immitation by a group of power-grabbing power-hungry greedy profit seeking whales who wanted to be in total control of the coin that would take over from Bitcoin at all costs. They failed in an opportunity to bring something special to the table for the sake of the community but in the end their desire to destroy Bitcoin and the team behind Bitcoin was the real driving force along with free coins from the fork that drove the whales to create Bitcoin Cash.

Bitcoin Cash is nothing more or less than any other crypto out there, it has not and probably will not touch Bitcoin.

[arcanayou]

it's hard, too, actually I prefer bitcoin cash because its block capacity is bigger so it makes transaction cost cheaper, actually this is what i want from bitcoin cheaper and faster transaction, if it can be cheaper and faster from system currently used by a conventional bank. but bitcoin is the mother of any cryptocurency, I hope there is a deal to enlarge the current block, maybe most miners will object, but I think that is what needs to be done to return bitcoin as a quick, easy and safe financial transaction tool

[ov3rflow9x]

I think it was never going to come true closer to threat btc, it was only too short time solution to avoid high fees and slow transactions of btc

[JollyGood]

it's hard, too, actually I prefer bitcoin cash because its block capacity is bigger so it makes transaction cost cheaper, actually this is what i want from bitcoin cheaper and faster transaction, if it can be cheaper and faster from system currently used by a conventional bank. but bitcoin is the mother of any cryptocurency, I hope there is a deal to enlarge the current block, maybe most miners will object, but I think that is what needs to be done to return bitcoin as a quick, easy and safe financial transaction tool

If Bitcoin Cash was created to make transactions cheaper then why did the whales not work with the whole community to create a fork to modify it and keep a single coin? Why use idealogical differences as an excuse to disrupt the community by creating a competing challenging coin?

[ASHLIUSZ]

I don't find a valid reason to make a comparison between bitcoin and bitcoin cash. If there is no bitcoin we could have never known about bitcoin cash. Bitcoin cash evolved as an altcoin from forking, but it became more popular with the splitting from the main chain of bitcoin. Else, it could have served same as other altcoins available in the market.

[gwapo.zylle]

As far as I know bitcoin beats bitcoin cash the value really differs. Either of the two people wants to have both because all we know that it is really in demand and it prosper the business world if you have it both. Bitcoin is an advantages for everyone because we cannot determine how much is the help of bitcoin to our country and community. The economis will stabilize for the future.

[xvids]

You are asking about original vs clone?
Of course people would always go with the original if they have the money,
But there are times when we would also take the clone in order to gain profit,Bitcoin wod always be the best for me.

[BountyX]

What was the point of creating Bitcoin Cash? The point is called FIAT CRYPTO, which means that by forking a popular coin like Bitcoin and having a good hype on your side you just manage to create money out of thin air, exactly as the central banks that the crypto-people so much despise, do.

[zander09]

Bitcoin is first and the most popular digital currency that had a great potential and have a huge price than other altcoins.
Bitcoin Cash is created an alternative to bitcoin it also had a good potential and price  but not like bitcoin. I don't think there's comparing between bitcoin and bitcoin cash because bitcoin is always the King.

[JollyGood]

So far it seems most people posting here go with the idea that Bitcoin Cash was created by whales to make money because of their greed and hope to destroy Bitcoin and not to provide a great facility to the community.

[dongamk]

1. Because of influx of investors in bitcoins, two major problems had occurred. The first was the slowdown of clearance of payments. Second the transaction fee had risen. After these two reasons surfaced, the bitcoins usability started falling. By 2017, several early retail adopters had started abandoning bitcoins, or started switching to the rival digital currencies.

2. The old bitcoin had a maximum limit of 1 MB of data per block or about 3 transactions per second. Although these limits could be raised technically, the bitcoin community never reached a consensus after years of debate. So, instead of raising the limits, the community decided to create another blockchain (which was later known as Bitcoin Cash) with the improved limits. The older bitcoins were taken to this new and improved blockchain that had a maximum limit of 8 MBs per block.

3. From the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block. The purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.

4. Bitcoin cash is the hard fork of the bitcoin. A hard fork occurs when a blockchain splits into two incompatible separate chains. Anyone who held bitcoin at the time of bitcoin cash was created automatically became owners of bitcoin cash.

5. Bitcoin Cash's official website states that the new digital currency fulfills the original promise of bitcoin as peer-to-peer electronic cash. The users are empowered with low fees and reliable confirmations.