Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
jbreher
on 24/07/2017, 06:17:08 UTC
Roger Ver, who owns ViaBTC

Got any evidence to go with that assertion?

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Bitcoin Cash is NOT a HF of Bitcoin.

By any sane definition, Bitcoin Cash is exactly a hard fork of the Bitcoin blockchain.

Evidence? Not really, but I would be very surprised it isn't the case.

So you're pulling shit out of your ass. Got it.

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Anyways, the point was Bitcoin.com is a biased news source about this issues, can we agree on that even if you share that same bias?

I'll grant you that any editorial slant it may have is likely to be biased to the bigblock camp, yes. I don't really hang out on Bitcoin.com, so I don't really know.

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About the HF... so they are going to replicate the blockchain and then change a lot of rules and divert some (undetermined) hashrate to mine on that....

Well, no. They are not replicating the bitcoin blockchain. They are building atop the bitcoin blockchain.

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It is not exactly as if Bitcoin forked.

Wrong. It is precisely a fork of the bitcoin blockchain. Up to the fork, both chains identical. After the fork, two separate chains. A fork. Of the blockchain. Exactly.

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It is an altcoin since its very inception and I think that is the only good thing they are doing about it.

Again, it is no more an altcoin than Bitcoin-Jr is an altcoin.

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P.S.: WHY do you think "Bitcoin cash" is good for Bitcoin holders? I am talking mainly about PRICE impact here

Because Bitcoin Cash has the transaction capacity required to support all the use cases that core threw overboard to sustain their Raspberry Pi fetish. More transaction capacity > more use cases > more utility > more use >  more value > more demand > higher price > more mining support > more security. Virtuous circle.

edit: or to look at it another way:

BTC has up to this point worked pretty well as a store of value*. But let's face it, for the last year, BTC has sucked as a medium of exchange. Some other crypto is going to fill that role. So you've got a choice:
1) Allow Bitcoin Cash to flourish, and take the role of default medium of exchange crypto. For this, you will be admirably rewarded. For you are starting off with one free BCC for every BTC you own.
2) Kill BCC, and some other crypto (LTC perhaps? Dash, god** forbid?) takes the medium of exchange role. Leaving you -- the BTC holder -- with nothing to show for it.

*oh yeah - that asterisk. Frankly, I believe that BTC earned its status as store of value only because its previous exceptional performance (now abandoned) as a medium of exchange. There's a good chance that BTC's store of value properties will be eroded by another coin that works great as medium of exchange, while still working well as a store of value. If so, wouldn't it be a good idea to own that other crypto?

** it's just an expression.