Friends, If BCH hard fork occurs what happens ?

[enyce]

Newbie here, Just getting my feet wet here, Hoping to better understand these terms and their consequences.

Hoping to start with lite coin or bch, Any thoughts on these hard fork news? Thanks!

[mocacinno]

Newbie here, Just getting my feet wet here, Hoping to better understand these terms and their consequences.

Hoping to start with lite coin or bch, Any thoughts on these hard fork news? Thanks!

Your title does not reflect the rest of your post... To answer your title: the BCH fork has already happend quite a while ago... The situation you see today is what happened after the fork: nothing really. The forked chain exists, it's being traded, people that had controll over unspent outputs before the fork now have unspent outputs on both chains... That's about it

To answer the second part of your question (the question asked in your post): i personally feel there's a big difference between LTC and BCH. Ltc was the first clone, they changed the POW algo (and some other parameters) and re-built their blockchain right from the genesis block.

BCH is a forked off chain, they kept the historical blockchain database from BTC and only at a certain blockheight they decided to fork. Personally, i'm a bigger fan of LTC, but that's just my personal opinion. It's up to you to decide which (alt)coin you'd like to invest in, i don't think any of the two coins you asked about will dissapear any time soon (once again: my personal gut feeling)

[enyce]

Awesome thanks for your response, I was intrigued to ask because all I see in the news is a hard fork that's coming in November and I'm just baffled with all the articles.

Perhaps LTC will be the better investment! Any more input is appreciated, Thanks!

[pawel7777]

Awesome thanks for your response, I was intrigued to ask because all I see in the news is a hard fork that's coming in November...

mocacinno was referring to a different fork - the fork that created BCH as a separate cryptocurrency.

To discuss upcoming BCH fork(s) (Bitcoin ABC, Craig Wright) - go to the relevant thread: https://bitcointalk.org/index.php?topic=2040221.0

[enyce]

Thank you. Im looking through that link but its so much information and change of topics within, Is there a simple answer as to the risk involved with BCH because of what the news claim? Thanks!

[pawel7777]

Thank you. Im looking through that link but its so much information and change of topics within, Is there a simple answer as to the risk involved with BCH because of what the news claim? Thanks!

Don't read the entire thread - just go there and ask for a quick run-down on upcoming forks and associated risks. I'm out of the loop on BCH affairs, so won't be much of a help, but, from what I understand nothing is decided yet so no one can clearly define the risks.

[jseverson]

Thank you. Im looking through that link but its so much information and change of topics within, Is there a simple answer as to the risk involved with BCH because of what the news claim? Thanks!

Simply put, the new fork could become the real Bitcoin Cash. You'll have the same number of coins for both chains, but there's a possibility that the fork causes a fracture within the community, crashing both coins. I'm not updated with the drama, and unless you want to read into the politics and the parties behind the fork, you may want to stay away for now. There is a potential upside though, as you can double your coins like when Bitcoin Cash forked out of Bitcoin.

[PETES]

Thank you. Im looking through that link but its so much information and change of topics within, Is there a simple answer as to the risk involved with BCH because of what the news claim? Thanks!

Don't read the entire thread - just go there and ask for a quick run-down on upcoming forks and associated risks. I'm out of the loop on BCH affairs, so won't be much of a help, but, from what I understand nothing is decided yet so no one can clearly define the risks.

This sounds crazy but I'm surprised knowing this. Like how come a fork coin will also have a hard fork? Just made me realize that Roger Ver is aspiring to acquire more profit. Just scanning the thread made me speechless.

Everything is possible, uh-huh.

[pooya87]

Thank you. Im looking through that link but its so much information and change of topics within, Is there a simple answer as to the risk involved with BCH because of what the news claim? Thanks!

Don't read the entire thread - just go there and ask for a quick run-down on upcoming forks and associated risks. I'm out of the loop on BCH affairs, so won't be much of a help, but, from what I understand nothing is decided yet so no one can clearly define the risks.

This sounds crazy but I'm surprised knowing this. Like how come a fork coin will also have a hard fork? Just made me realize that Roger Ver is aspiring to acquire more profit. Just scanning the thread made me speechless.

Everything is possible, uh-huh.

a bunch of  greedy people wanting to make a lot of money created bitcoin cash, and by doing that they "created" money for themselves. and were satisfied with the wealth "out of thin air" for a while but now their greed is kicking in again and they are fighting amongst each other. now CSW is splitting off to "create" more money for himself out of thin air.

[pawel7777]

...
a bunch of  greedy people wanting to make a lot of money created bitcoin cash, and by doing that they "created" money for themselves. ...

What do you mean by that? They created money out of thin air for EVERY bitcoin holder (didn't you get yours or something?). Similarily, if BCH splits - every BCH will get their share of newly forked coins.

Is it just another "muh evil roger ver" knee-jerk post? Because as it is right now, Ver/Wright will win/lose financially just as much as any other member of community + by going with non-consensual fork they risk "political" suicide (I think Wright is already widely considered a liability).

[Rath_]

What do you mean by that? They created money out of thin air for EVERY bitcoin holder (didn't you get yours or something?). Similarily, if BCH splits - every BCH will get their share of newly forked coins.

They did create "money out of thin air for EVERY bitcoin holder" by taking an advantage of a group which has a different vision of Bitcoin in terms of scaling. Most Bitcoin hardforks are completely useless and fail after a few months (e.g. Bitcoin Gold - premine, successful 51% attack).

They managed to pump and dump BCH a few times. Even Bitmain lost a lot of money on Bitcoin Cash and they are still trying to convince people that it is "the real" Bitcoin. Bitcoin Cash supporters are hyped about their big blocks and cheap payments while their network processes less transactions than Dogecoin. "Adoption takes some time" - I could say exactly the same about the Lightning Network.

[whohackedme]

There will be no split.

[alexgreen2018]

The previous fork was an upgarde to the existing protocols and network. No new coin was generated from the last fork. It has another fork upcoming in November in which bitcoin cash abc will be forked.

[whohackedme]

It was looking like good possibility of fork/split with two coins.  I dont believe that is the case now.  CSW abandoned the meeting this weekend where he had the opportunity to explain technical advantages/concerns and he left.  (Only assumption one can have is he did not have good technical reasons, if you have facts/evidence on your side, shine a light on it,)

Notice Ver said there was zero technical objections and nchain engineers were still present at the meeting.  It looks like only coingeek would side with CSW, and if things continue CSW client may not ever work so..... no fork producing no new coin.

Watch for yourself here:
https://youtu.be/q5f6yNCc2UY