is it true that bitcoincash found first 8mb block ? my friend is saying that this pump is because of that 8mb block found?
Bitcoin cash recently mined the 8 mb block and that is the reason for this price jump and the rally is going strong and this is the coin which is at the second spot when it comes to valuation and so it is never considered a joke and if they could run successfully mining with 8MB blocks and make things faster then what is the problem with it.
thanks for explanation . i got some questions .is everything same except block size? i don't get it. if it is that simple then why they don't do this to bitcoin?
Hehe, you have inadvertently triggered a tripwire and stepped on a landmine at the same time...
The Bitcoin Core developers and their corporate sponsors, Blockstream, determined that increasing Bitcoin's blocksize would cause catastrophic centralization and break the network. People here and elsewhere argued fiercely about this issue for FOUR YEARS, in a civil war that consumed many peoples' sanities...
Several Bitcoin Core devs tried to launch their own versions of Bitcoin with a larger blocksize, and all were ostracized from the Core dev group, and had their ability to commit code taken away (Gavin, Hearn, Garzik, etc.).
Suddenly, Bitcoin Cash came out of nowhere, and it "just works" with 8MB blocks. The timing of it was perfect because Bitcoin Core forced the network to soft fork to support Segwit, their (inferior) scaling solution that doesn't increase the blocksize at all.
I dont think their corporate sponsors really care about decentralization. Corporations are centralized like hell and they are only in it for the money.
But I agree, that a 8 mb block size will decrease the node count rapidly, in 1 year you will barely see any nodes in BCH, and that will limit the security and the censorship resistance to it. Combine this with the fact that BCH is already controlled heavily by mining cartels, it just shows you how centralize it is.
But I am not against BCH, I think it's a good experiment that is worth the test to see which one survives and adapts better to the environment.