Is Bitcoin Cash doomed to failure?

[Abiky]

Since the inception of Bitcoin Cash in 2017, we've seen a number of controversial forks over the past three years. The so-called "hash wars" in 2018, resulted in a new version of Bitcoin Cash dubbed "Bitcoin SV". The most recent controversial hard fork gave birth to Bitcoin Cash ABC (BCHA). While the new chain is still struggling to stand on its own feet, the damage to Bitcoin Cash's reputation has already been done. Imagine if forks continue to emerge from the original Bitcoin Cash blockchain every once in a while. People will lose trust/confidence on the project.

I think that the more forks emerge out of Bitcoin Cash (BCH), the worse it'll be for it's adoption in the mainstream world. Of course, this is the result of crypto/Blockchain tech being decentralized and open source. But sometimes, enough is enough. Too many forks out of the original project, will do more harm than good to its reputation in the mainstream world. It seems to me that Bitcoin Cash will be destined to failure as the community cannot reach a common agreement to help the project reach new heights.

Do you think constant forks will cause Bitcoin Cash to fail in the long run? Or will it stand strong like Bitcoin (BTC)? Was "kicking" ABC lead developer Amaury Sechet from the project a wise decision made by the BCH community? What do you think will be the outcome of the Bitcoin Cash/Bitcoin Cash ABC chain split? Your input will be greatly appreciated. Thank you.

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[DeathAngel]

I don’t think it’s controversial to say that both BCH & BSV have failed. Both **** forks have half empty blocks, very few people invest in & use them. I think they’re both kept afloat by Ver in BCH’s case & Ayre/Wright in BSV’s case.

I’ll be very surprised if they’re both still around and being used in 15-20 years.

[Coin_trader]

I don't view fork as bad thing for a certain coin because when a coin fork, it just mean that they have some major issue that been already solved on the new node of the blockchain. Split is the one who destroy the coin idea itself since the supporter will b divided which means the hash power will be divided too.

But considering that BCH is a project of controversial people like Roger Ver, Yes fork will make obselete this project in the long run until Roger alone works on his delusional true bitcoin same with SV.

[DoubleAweSeven]

Every fork coins that have "Bitcoin" in it is doomed to fail. Only the original Bitcoin will stand to the top. I don't think it's anytime soon but it's inevitable that people will slowly loss interest into a shitcoin that doesn't do anything except to be an investment option.

[Maxstl007]

I don’t think it’s controversial to say that both BCH & BSV have failed. Both **** forks have half empty blocks, very few people invest in & use them. I think they’re both kept afloat by Ver in BCH’s case & Ayre/Wright in BSV’s case.

I’ll be very surprised if they’re both still around and being used in 15-20 years.

The criticism of BCH is from those who aren't into the project very much but hated the fact that it was born out of Bitcoin, we invest in crypto projects because of their use cases and BCH got a very good one and infact it's been put to good use, not every crypto project is accepted as means of payment but BCH is.  Many merchants and payment  solutions are accepting BCH and XRP, why all the hate?

[Claudio99]

BCH isn't going to fail, there are many new altcoins that are doing so well but don't have the use case of BCH, you can use Bitpay to pay with BCH, BTC, ETH, XRP in stores mostly in japan and other few countries, also alchemypay implement BCH too, this project is well adopted, been a fork isn't a doom for coin like BCH

[NeuroticFish]

Do you think constant forks will cause Bitcoin Cash to fail in the long run? Or will it stand strong like Bitcoin (BTC)? Was "kicking" ABC lead developer Amaury Sechet from the project a wise decision made by the BCH community? What do you think will be the outcome of the Bitcoin Cash/Bitcoin Cash ABC chain split? Your input will be greatly appreciated. Thank you.

Since it's the same algo for mining, some of the miners will go where the pay is better.
Imho Bcash and its brothers' prices are inflated artificially by their "heads", it cannot stay really profitable indefinitely without real value added to the projects.
Ver is favoring bcash in the companies he has power. That helps the coin.

All in all I think that at least Ver's fork can survive as long as Ver can dictate what certain companies do. When that will end, bcash will soon enough go where it deserves from the beginning.

[PerfectCircle]

Forks can't affect adoption rate of a coin, what matters is real use case, if the coin forks a hundred time it's non of my business, as far as the coin keeps it's use case and development alive there is no problem for me, I am a big fan of Bitcoin cash and XRP, they are best fit for payment solution since that's what they are built for.

[TheUltraElite]

Just like in this world we have people who get divided based on personal opinions and shaping the world history based on own beliefs, similarly this cryptocurrency sector has seen these as "forks" - does not mean one is going to fail or succeed. It becomes a matter of perspective.

Someone can say that price becoming very low is a marker of failure - you can accept or not accept that but of course the bullish lacking on that asset shows that lack of interest in it and therefore can be considered as a subjective marker only.

A developer being fired does not mean a project would fail. Someone will be hired again. Devs work for money - thats it. If they dont get paid, they will leave the project.

I myself have never been a fan of forks from bitcoin. But there many people who believe in them. I have nothing to say for them but to think differently and not to drown in their own misgivings but move on.

[Eddyc]

In my opinion not because soon the price of the Bitcoin brand and the product can become very expensive for those who do not have many financial conditions. So all forks tend to have some success because they carry the name Bitcoin and many people will want to have Bitcoin even if it's a fork. However it will depend on the time of the market but unfortunately all altcoins are linked to Bitcoin and depend on its success.

[Inkdull]

Forks or not Bitcoincash is Bitcoincash, that's not a good reason to invest or not, Bitcoincash is a top altcoin for a reason, not even many coins of today can be as big as Bitcoincash, if the fork thing is annoying you then look else where, I believe that the importance of a crypto project is it's utility and BCH have a fine one.

[Coyster]

Do you think constant forks will cause Bitcoin Cash to fail in the long run? Or will it stand strong like Bitcoin (BTC)?

I can't state categorically, no one can as well, if Bitcoin Cash is going to fail long term, but the thing is, I'm sure it's not going to be as strong as bitcoin, Btc is gradually developing into something close to a global market, Bitcoin cash on the other hand is not entirely useless as some people will suggest it is, it has its own uses and areas that quite a lot of traders and crypto users fancy in it, and that's good for the network, I don't own nor do I intend to own Bitcoin cash, plus I think they get a funny kind of promotion from Ver I must say, though it seems to be working, so if people find it good, then so be it.

Having said that, it's the same kind of situation with stable coins or the so-called privacy coins, they are somewhat centralized, risky, vulnerable to manipulations and I think they should not be held for the long term, but so many traders and users love to use this coins for some specific reasons, and so long as it serves them good, I really can't complain, what's necessary is to always take responsibility and make sure you're trading or investing wisely, cause one mistake can make you lose all your funds.

[OasisDre]

I am a fan and I will never lose interest in BCH because of too many fork, since the blockchain is running perfectly ok I will choose BCH over many new altcoins today, even over some old altcoins, forks can't drag BCH down honestly and sooner or later there will be no more forks believe

[lixer]

Bitcoin Cash is among the coins that I don’t like, and I have never trusted the coin for once, whether it’s going to fail or not is what I can’t tell you, I just don’t invest in it because I don’t like it. But, if you’re going to talk about the forks and what would be the effect of so many forks, I don’t think that having so many forks will cause the coin to fall, there can be so many forks and the coin will still be going hard.

You can take this Bitcoin we all know today as an example, Bitcoin has been forked so many times, there are even forks that most of us are not aware of, the only ones we all know about are BCH, and BTG, we don’t know of so many others like BTC pizza and the rest of them. Despite so many forks, BTC is still going strong, so I don’t think forks affects the network.

[Abiky]

Just like in this world we have people who get divided based on personal opinions and shaping the world history based on own beliefs, similarly this cryptocurrency sector has seen these as "forks" - does not mean one is going to fail or succeed. It becomes a matter of perspective.

Someone can say that price becoming very low is a marker of failure - you can accept or not accept that but of course the bullish lacking on that asset shows that lack of interest in it and therefore can be considered as a subjective marker only.

A developer being fired does not mean a project would fail. Someone will be hired again. Devs work for money - thats it. If they dont get paid, they will leave the project.

I myself have never been a fan of forks from bitcoin. But there many people who believe in them. I have nothing to say for them but to think differently and not to drown in their own misgivings but move on.

That's certainly true, mate. While forks cause some level of instability in the project, they indicate the level of democracy "baked" into the Blockchain protocol. People can fork as much as they want as the code is open and readily available for anyone to explore and modify to their hearts' content. But only those forks that are able to provide development, innovation, and real use cases for the mainstream world, will survive in the long run.

We're going to have to see whenever Bitcoin Cash's forks will last for long. We already have Bitcoin SV and now Bitcoin Cash ABC which forked off the original Bitcoin Cash project. The original Bitcoin (BTC) is still as vibrant as ever, despite being split into many factions. If you see it the other way around, forks with different visions and features are actually good for the development of Blockchain technology. Developers from rival factions can test out new features in order to provide people a choice from one coin to another. Those who prefer cheaper fees and faster transactions will find Bitcoin Cash to be suitable for their needs. Others will use Bitcoin (BTC) for cross-border transactions because of its unmatched security and reliability (despite transactions being slower and expensive than Bitcoin Cash).

Nonetheless, not every fork will turn out to become successful in the long run. The recent BCH community's decision of "stripping off" developer Amaury Sechet from the project may have dire consequences in the long run. That is if they're unable to find another developer that's able to keep the project afloat. The newly-splintered faction dubbed "Bitcoin Cash ABC (BCHA)" is struggling to get on its own feet. If it fails, the BCH community would have ultimately won. But if it gains traction, expect Bitcoin Cash to face fierce competition in the future. At least, Bitcoin (BTC) will continue to go on as usual thanks to its decentralized and open source nature. Whatever happens with Bitcoin Cash in the long run, will lie on the community itself. Just my thoughts