EXPLAINATION OF THE BIGGEST SCAM OF THIS CENTURY, BITCOIN CASH

[X90]

BCH is a scam. The guys that developed it already had a ton of Bitcoin,. So they created BCH so they could try to double it.

Basically issuing themselves hundreds of millions of dollars worth of it and when it went live they sold it through the exchanges that they set up deals with and cashed out first.

That is the whole reason they created it, so they could try to double their own Bitcoin, holdings.

They probably even kicked back some money to the exchange owners for helping them sell it off.

So they get hundreds of millions of dollars free and most likely rolled it all back into original Bitcoin,.

Hence the huge spike in Bitcoin,.

Bitcoin Cash, BCH was a scam from the beginning. But absolutely genius.

[sayurichick]

for every BCC sold, that means there was a buyer. That's how bid/ask works.

If "the guys" were able to fool people into volunteering their time into building useful services like

https://cash.coin.dance ,
https://blockchair.com ,

as well as trick wallets and exchanges into devoting man power in order to add bitcoin cash support...

as well as getting miners to give up up to $500k/day by switching to mine on this "scam" chain...

well, they have earned the right to have "scammed" people out of millions.

Why? Because in doing so they provided the market with a better version of bitcoin that the community has wanted for years. We already know Bitcoin works, this is Bitcoin v2.

[DisgruntledAnon]

I'm literally just starting with Bitcoin, so could someone give me an unbiased explanation of this new Bitcoin Cash system? What differentiates the normal Bitcoin wallet from this new Cash one?

Sorry again for being so horrible, but I'm only now getting this thing downloaded, so I can't really comment wisely on this matter.

[mjglqw]

BCH is a scam. The guys that developed it already had a ton of Bitcoin,. So they created BCH so they could try to double it.

I'm pretty sure that's not how stuff works. Looks like you need to look more into economics.

[Neoclassical]

They say the same thing about Bitcoin. Whom to believe? I'd love to hear neutral opinions.

[X90]

I'm literally just starting with Bitcoin, so could someone give me an unbiased explanation of this new Bitcoin Cash system? What differentiates the normal Bitcoin wallet from this new Cash one?

Sorry again for being so horrible, but I'm only now getting this thing downloaded, so I can't really comment wisely on this matter.

Bitcoin Cash is not any different than the 8 or 900 other alternative coins that are on the market and have been created since the Original Bitcoin.

The only thing BCH, Bitcoin cash has in common with the original bitcoin< is the transaction point up until the split.

Bitcoin, has been around for 10 years, BCH has been around for a week.

As far as understanding it all, you must read a lot. Cryptocurrency is very new, and unregulated. You must look at everything very closely and try to understand it for yourself. Don't get caught up in other peoples opinions too much. Understand it so you read the good and bad and form your own.

There are a lot of bad actors and scammers that work this angle it is the wild west right now.

[X90]

BCH is a scam. The guys that developed it already had a ton of Bitcoin,. So they created BCH so they could try to double it.

I'm pretty sure that's not how stuff works. Looks like you need to look more into economics.

BCH issued every Bitcoin holder and equal amount of BCH on their chain. Explain the economics of that.

Economically it made no sense.

You can't just issue something that has a finite amount. You can't have coins on both chains for "free". You could sell Bitcoin, and buy BCH or vice versa. That lets the market run it one way or another.

Both coins have a 21 million total issue.

They destroyed the credibility and fundamentals of the coin before it even launched.

If it was so great they would have started mining the BCH and let the market sell their Bitcoin, to buy it. Instead they said come get your free money. And that is what the developers of BCH got, hundreds of millions of free cash.

[libertyBTC]

Yes, it is a scam. One more from Roger Ver and another attack on a free bitcoin.

Roger Ver wants to centralize bitcoin and destroy the value, we can not allow that and bitcoin rejected this toxic piece.

https://www.youtube.com/watch?v=UP1YsMlrfF0

[sayurichick]

a LOT of ignorance coming from these trolls. I'm no longer going to engage them but rather inform others instead.

there are CODE forks,
and there are CHAIN forks.

code forks lead to alt coins if there are too many different changes to the rules.
a Hard Fork (protocol upgrades) can be a chain fork if not everyone upgrades.

If there is a hard fork and the history is the same? It's not an alt-coin.
If there is a hard fork and there is a new genesis block? alt-coin.

It gets a little confusing because a CHAIN fork requires a CODE fork.

What's important to know about hard forks is that they are VOLUNTARY.
The act of duplicating tokens so that everyone has ownership of both leads to a win-win outcome.
how? Competition for resources (mining power, talent, users, value) is a zero-sum game.
By having tokens , everyone has the same fair voice on either chain.

The whole "money printed out of nothing" is bunk.
If you had 1 BTC before the fork, you had a total wealth of $2,700.
Today you have $3,250 + $200 = $3,450.

Bitcoin cash didn't create money out of nothing, a lot of fiat was added to crypto (over $110b market cap now). And for everyone Bitcoin cash that was "dumped" means there was a buyer who picked it up for that price.
Many people are wanting to buy "cheap" Bitcoin cash because if Bitcoin Cash does absorb the miners and ecosystem, well... people will be panicking and probably converting their BTC for BCC.

Here's something interesting to note about people who refer to it as "Bcash". They feel threatened that Bitcoin cash has somehow "hijacked" the branding. They use Bcash to intentionally mislead people , hoping that people don't discover bitcoin cash or dismiss it.

But, There is already

BitcoinDark
Bitcoin Plus
Bitcoin Scrypt
Bitcoin Planet,
and Bitcoin Fast...

How come no one gave a shit about those "hijacking" the brand?

[OgNasty]

There is no logical reason for anyone to be mad at Bitcoin Cash. Bitcoin is an open source project, and someone forked it. There's no harm there. I'd even go as far as to say the rally we're now witnessing in Bitcoin is due to investors suddenly realizing that this "fork" is a new potential revenue source for Bitcoin holders. This is a bit of a game changer, and I'm sure we'll see the same thing happen in November when Bitcoin Classic forks the chain again. In short, BCC, Byteball, Stellar proved that there are new and evolving ways for Bitcoin holders to receive "dividend" like payouts for the Bitcoin they hold. A lot of investors will be taking notice...