RE: 5 days ago i said of BCC/BCH News.. Now they killed BTC in Trading Volume!
I've said it many times before - jokingly: My favorite conspiracy theory is that the bitcoin schism is manipulated by some persons or agency with strong vested interests in fiat. They manipulate both sides of the debate, a bit the same way as Palpatine and Lord Dooku in the Star Wars triology managed to start the Clone Wars through evil manipulation.
Bitcoin Cash fits perfectly in. The ultimate goal for the Bitcoin Cash supporters is to kill Bitcoin and become the new Bitcoin. The hope is that a big amount of miners, occupied only with their short-term profit, will defect the "segwit coin" and start mining on Bitcoin Cash now as it's temporarily more profitable right now. If a sufficient amount of miners would do that, it would be very bad for bitcoin. The Bitcoin Cash supporters hope Bitcoin Cash will become the new Bitcoin. I think it would anyway be years before the Bitcoin Cash market price would reach the 4000 USD mark, all miners would lose in such a scenario - as would crypto, in general.
r/btc on reddit would be the natural place to rally support for SegWit2X - instead it is totally consumed by Bitcoin Cash fanatics, many of them hoping SegWit2X will be a great failure because they believe it will be easier for Bitcoin Cash to compete with Bitcoin Core than SegWit2X - others hoping the 2X hardfork will end up as a total disaster, as that would benefit Bitcoin Cash.
I strongly believe SegWit2X is the only true path forward. We need one Bitcoin. There are only three things that makes Bitcoin outstanding in the jungle of cryptocurrencies; the network effect, the brand name and (arguably) the strong security offered by the extreme amounts of CPU-power locked down in the mining hardware. Split the coin, and none of those benefits remain.
This is gold!
2x is a shit compromise for everyone except the creators of SegWit, which itself is simply a bad upgrade. It alters far too much, and its promises of "backwards compatibility" fall somewhere between stretching the truth and outright lies. If it's a scaling upgrade, it's unnecessary, as the same can be achieved with bigger blocks without the excess complexity. If it's just a malleability fix, then why does it leave virtually no part of the codebase untouched? People at /r/btc have been saying this about 2x since the day the NYA was signed, so it shouldn't come as a surprise that given the chance for Bitcoin to have onchain scaling without SW, they are going to be more supportive of that option. I agree that a malleability fix is needed, but it can and should be fixed with a hard fork, in a fraction of the lines of code.
The only reason for designing an over-engineered soft fork in favor of a hard fork is if there is an ulterior motive to prevent any and all hardforks - the heavily pushed narratives that hard forks are simply too dangerous to attempt lines up with this. Given that essentially none of Core's arguments against increasing the blocksize can stand on their own merits (hence the need for censorship over at /r/Bitcoin), it is clear that there is an unspoken agenda guiding their decision making process. The Core Devs have abused their position of power by getting involved in politics; it would be in the interest of all stakeholders if the authority they exercise so readily became a thing of the past.
In case it wasn't already obvious, I am in the camp that hopes to see Bitcoin Cash become Bitcoin by becoming the chain with the most cumulative PoW while the legacy chain fades into oblivion. There is no functional difference between BitcoinCash with FlexTrans and BitcoinCore with SegWit, other than a higher throughput for on-chain transactions. All the fancy new tech that Segwit is allegedly "necessary" for require a malleability fix, not SegWit specifically, so we'll still get LN, atomic swaps, and the rest.
"Split the coin, and none of those benefits remain."
I agree 100% on that.
Tobixen, you are mostly correct but you don't seem to include (or know) the full story.
Are you aware that /r/btc was created to get away from the blatant censorship in /r/bitcoin?
The people who want to get away from the censorship are the same people who made BitcoinCash a reality, duh!
That's of course why /r/btc is full of BitcoinCash heads, as it well should be!
Everyone needs to learn the real, full story -- and stop supporting Segwit Crap which has no future and is not good for the nature of Bitcoin. Segwit is not the proper way to scale, nor is it the way that it was intended.
Allegedly, yes - but if my Palatine/Dooku-conspiracy theory is true, then no, that's not the real reason :-)
What is bad about Segwit? I still haven't found a decent argumentation that is not biased due to the invested interest in either BTC or BCC.
it wouldnt be bad if you have been a prophet
Problem is everybody who had bitcoin during hardfork has also bitcoincash and therefore it is in many hands... An bitcoin is about to burst the bubble so people will sell and bcc will rise
Don't be a fool. No one can kill BTC trading volumes. BTC trading volumes will always go up in the long run.
BCH just did and honestly I do believe IOTA will detrone Bitcoin soon.
the thing is that as far as I know there is nothing we can buy with BCC. Correct me if I am wrong but if I want to use BCC in the real world I still need to convert to BTC.
So how can BCC prosper to replace BTC
if it needs BTC to be of any use in the realworld?
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The crash of Bitcoin Cash is about to happen all over again starting... now.
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I wouldn't hold my breath waiting for it.
1NSQSxRcGMsEYJGjtEZudib4A9beNMuCvL
Lol so random wtf
Looks like a BitCoin address ;)