Bitcoin ABC and POS

[zasad@]

https://e.cash/media/bitcoin-abc-rebrands-to-ecash-becomes-the-first-bitcoin-based-network-to-offer-staking
Bitcoin ABC Rebrands to eCash, Becomes the First Bitcoin-Based Network to Offer Staking

"The developers of Bitcoin ABC announced the start of a rebranding campaign that is set to coincide with the launch of a new project – eCash – aiming at redefining digital money. The Bitcoin ABC project will officially change its name to eCash and the token will be renamed from BCHA to XEC on July 1 at 12 PM UTC."

Will this affect Bitcoin in any way?


https://www.coingecko.com/en/coins/bitcoin-cash-abc

[Bttzed03]

A fork of a bitcoin fork wouldn't affect the real bitcoin (BTC). The rebranding had an impact on the coin's price but too little to cause any change or hype in the market. I didn't even know about this until it was posted here. If anything, it could affect BCH, BSV, the soon to be POS protocol ETH, and all other staking coins/tokens.

On a positive note, it's nice to see them removing bitcoin in their name. I wonder when will Roger and Craig follow?

[OcTradism]

"The developers of Bitcoin ABC announced the start of a rebranding campaign that is set to coincide with the launch of a new project – eCash – aiming at redefining digital money. The Bitcoin ABC project will officially change its name to eCash and the token will be renamed from BCHA to XEC on July 1 at 12 PM UTC."

Bitcoin ABC team did not redefine anything. After their failure, they try more to change to PoS and say they are defining something. Proof of Stake is in crypto many years.

Will this affect Bitcoin in any way?

It won't, certainly. Changing to PoS can be because the Bitcoin ABC team try to get attention from Elon Musk and want to say their altcoin is a green bitcoin.

The Bitcoin ABC is not related to Bitcoin. They try to abuse the Bitcoin in their coin name.

[hugeblack]

It's an attempt to revive this dead coin, but it's shooting on foot.
The developers have nothing but trying to give customers some free money to keep buying that currency, so they may make some gains in the short term, but in the long run, Bitcoin ABC's project is dead.

I have some of these coins, which I got from the previous hardfork and I don't see them worth even trying to get them back.

[OcTradism]

It's an attempt to revive this dead coin, but it's shooting on foot.
The developers have nothing but trying to give customers some free money to keep buying that currency, so they may make some gains in the short term, but in the long run, Bitcoin ABC's project is dead.

Many projects are revived that way. After months of dead, they make swaps to a new algorithms, new chains and attract new investors. They do it in bull trend and after take profit, their projects will be dead again when the bear market comes.

A quality of one project depends on a core team and such project does not have a good developer team. Calling them as scammers or not, it depends on each person, but they are not good and productive developers.

[Tytanowy Janusz]

So its still proof of work network right? What is this staking made for? Does it have any use case for chain or it was introduced to BTC ABC only because staking is popular last days and every shitty EtH token has it?

When we are talking about staking - main question is - where are rewards come from. If they come from inflation, and staking has no use case other than locking investors coins - staking has no value.

[Timelord2067]

It might pay to read the entire article...

Bitcoin ABC users are required to exchange their coins for XEC tokens AND the swap is going to be on a 1:1,000,000 ratio.

In other words, each one Bitcoin ABC coin you have will become one million XEC.

Add to that

https://e.cash/media/bitcoin-abc-rebrands-to-ecash-becomes-the-first-bitcoin-based-network-to-offer-staking
https://archive.ph/4Iy8D#selection-511.453-511.523

The developers also noted that the given is not an obligatory measure.

Meaning it's not actually being adopted by the Bitcoin ABC community via a consensus move, it just yet another instant token that's been rolled up like a joint.

Be prepared for tears down the track.

[killerfrost]

This change will most likely bring a strong revival to the project. Personally, I think it will help the project come out of the shell as a fork, and instead work independently and create what they want good for the upcoming community.

[DapanasFruit]

I have not heard much about this Bitcoin ABC and this is my first time to know that they decided to change their name to eCash which is to me is a good move so they can grow without associating with Bitcoin, albeit just on the name. I believe that a strong project or one that intends to become should never be using the name of something else that is already popular. Bitcoin will remain the king for years and appropriating its name to me can mean that the project could not stand on its feet and could even be just another fake. Good luck and more power to eCash.

[Tytanowy Janusz]

This change will most likely bring a strong revival to the project. Personally, I think it will help the project come out of the shell as a fork, and instead work independently and create what they want good for the upcoming community.

The problem is that BCHA is just a btc fork that lost battle with BTC in being "real bitcoin". Now its just a useless shitcoin with "bitcoin" in name and in fact this "bitcoin" in name is only reason why this project still exist because it has no advantage over anything. There are 10 000 projects listed on coinmarketcap ... question is ... do we need another solution that no one is using? Do we need ex bitcoin fork that promise to achive something in future while we already have working products?

BTC - store of value
ETH- smart contracts
BSC - fast and cheap smart contracts on less decentralized chain
stable coins on ETH or BSC - a cheap, fast and convenient way to transfer value that is used by everyone who earns / spends crypto online

Why we need ex btc fork for?

[killerfrost]

This change will most likely bring a strong revival to the project. Personally, I think it will help the project come out of the shell as a fork, and instead work independently and create what they want good for the upcoming community.

The problem is that BCHA is just a btc fork that lost battle with BTC in being "real bitcoin". Now its just a useless shitcoin with "bitcoin" in name and in fact this "bitcoin" in name is only reason why this project still exist because it has no advantage over anything. There are 10 000 projects listed on coinmarketcap ... question is ... do we need another solution that no one is using? Do we need ex bitcoin fork that promise to achive something in future while we already have working products?

BTC - store of value
ETH- smart contracts
BSC - fast and cheap smart contracts on less decentralized chain
stable coins on ETH or BSC - a cheap, fast and convenient way to transfer value that is used by everyone who earns / spends crypto online

Why we need ex btc fork for?

I think it won't be too much of a problem if they are really serious about the plans they build in the future.
And of course it's going to take time for us to appreciate and recognize what it's done, for me this project has to be something too exciting, but I think a new phase of the project will begin from this change.