Why the surprise Bitcoin Cash fork is good for Bitcoin.

[patrick.miller]

Free market competition of ideas. Nuff said.

[Windowly]

I have to agree. I was a bit doubtful at first but I've come around and am pretty excited about it -- more excited than I've been about bitcoin in ages. If we can actually make this the majority chain (and I think there are good sound economic reasons why it should be the majority chain) -- bitcoin will have a very bright future the next few years.

One of the first things that really attracted me to bitcoin early on was the no-fee or almost non-fee transactions. That kind of utility is going to attract more people to Bitcoin cash over the long term as long as Bitcoin cash can stay visible and as a valid alternative to the small block settlement layer in the segwit coin.

[X90]

BCH Bitcoin cash is a scam that is trying to hijack stupid people's Original Bitcoins.
There is nothing good about increasing the block size. If you want to use a coin to run transactions and pay for coffee there are like 900 different coins out there that can do that.
Bitcoin is supposed to be a safe haven to store and transfer money. It doesn't need to be super fast or cheap. I has to be solid and reliable.
Bitcoin is the original and has proven it self.

Bitcoin Cash doesn't even exist yet. You might as well send all your Bitcoin to a random address cause you aren't going to see it ever again anyway.

[rizzlarolla]

BCH Bitcoin cash is a scam that is trying to hijack stupid people's Original Bitcoins.
There is nothing good about increasing the block size. If you want to use a coin to run transactions and pay for coffee there are like 900 different coins out there that can do that.
Bitcoin is supposed to be a safe haven to store and transfer money. It doesn't need to be super fast or cheap. I has to be solid and reliable.
Bitcoin is the original and has proven it self.

Bitcoin Cash doesn't even exist yet. You might as well send all your Bitcoin to a random address cause you aren't going to see it ever again anyway.

This donkey knows zilch about Bitcoin, yet feels his "opinion" on blocksize counts.
(no wonder he's a smallblock - core?)

- at least he kinda asked if he was totally and utterly wrong on his other post..
post77484.html#p77484.

[GreyWyvern]

Bitcoin is supposed to be a safe haven to store and transfer money. It doesn't need to be super fast or cheap. I has to be solid and reliable.

No one from "your side" has explained why it can't be both.

[X90]

X90 wrote:
Bitcoin is supposed to be a safe haven to store and transfer money. It doesn't need to be super fast or cheap. I has to be solid and reliable.


No one from "your side" has explained why it can't be both.

I don't think there is a problem with it eventually doing all that and being able to be fast and cheap. The problem I have is that you don't just throw something together half ass and go out and try to fuck everything up.

This is what the guys at BCH bitcoin cash have done. They threw it together and have tried to get peoples support by giving them "free" coins. Which are worthless anyway. They don't even have wallets or exchanges to deal with them. It is just a scam.

I think scaling Original Bitcoin should be very slow and methodical because it is worth the attention to detail in order to make sure it is done right. That is what the core bitcoin guys are doing. They are looking out for the long term. They don't care about all these spoiled "I want it now" children out there that can't even walk across the street with out staring into their phones.

[GreyWyvern]

I don't think there is a problem with it eventually doing all that and being able to be fast and cheap. The problem I have is that you don't just throw something together half ass and go out and try to fuck everything up.

This is what the guys at BCH bitcoin cash have done. They threw it together and have tried to get peoples support by giving them "free" coins. Which are worthless anyway. They don't even have wallets or exchanges to deal with them. It is just a scam.

If it is, then it will fail, spectacularly probably, a bunch of losers you don't agree with with have lost fortunes, the market-cap will flow back into Bitcoin, likely more-so than before because the SegWit chain will be seen as more reliable, and you'll be vindicated.

So if you believe everything you say about BCH, why aren't you clambouring for this fork? Unless you're afraid it will succeed... ?

I think scaling Original Bitcoin should be very slow and methodical because it is worth the attention to detail in order to make sure it is done right. That is what the core bitcoin guys are doing. They are looking out for the long term. They don't care about all these spoiled "I want it now" children out there that can't even walk across the street with out staring into their phones.

Again, by your own logic, you should be CELEBRATING this fork. All the "spoiled children" are getting their own toy to play with while the big boys working on the Original Bitcoin get some much needed quiet to work on their long term solutions.

Why are you afraid of the Big Bad Fork?

[brope]

You know, I honestly can't believe that an argument against 'Bitcoin Cash' is that bitcoin "doesn't need to be fast or cheap"...and that they wouldn't mind if fees hit $100 (you can literally hear Core supporters say this in interviews). The people promoting that side of Bitcoin are those trying to make Bitcoin expensive and only for the Elite.

How on earth are billions around the world (especially those in poorer countries, who arguably would benefit from it the most) supposed to utilize bitcoin if the transactions they try to make cost more in fees than the transactions themselves?

The fork is good and will allow people to do what they want to with their bitcoins without the fear of excessive fees and wait-times.

[X90]

Look, when I went out looking for information I had to wade through a lot of BS to reach these conclusions about what is going on.
There is a ton of mis-information out there and a lot of people who are going to lose a lot of money because of it.

Any time basic questions and answers or being glossed over, omitted, or half way explained you should have concern for caution. When someone tells you that you are going to get something for free you better watch out.

I don't care about the fork cause it is a scam and I believe that a lot of people are going to try to cash these BCH things in and evaporate all their Bitcoin in the process. Either cause the network is going to be messed up or they make errors or they get scammed one way or another.

If the BCH tokens were legit you would be able to cash them in at a later date and they wouldn't be making it out like a hack to get both coin. Again, Bitcoin has a maximum of 21 million coins as does the BCH. You can't just say I am going to give you free BCH because you own Bitcoin. It undermines the integrity of the entire coin before the market can make a decision.

I don't care if it succeeds or fails to be honest. If it is legit, I'll pick my coins up later. It isn't going to affect Bitcoin. It will take advantage of people who are being overly optimistic etc. and end up making a bad decision due to mis, or dis information or short notice.

I think logically it makes no sense to think that this new BCH coin, that has not even existed one day and is only related by the ledger transactions of Bitcoins history, will somehow become a transactional staple of the common person. Bitcoin will get there, people should just be patient.

As far as poor people are concerned I think Bitcoin is further on down the list of maslow's hierarchy of needs.

[torusJKL]

Why would people lose money?
Nobody steals any bitcoins from them.

They will own their bitcoin and will get additional bitcoin cash.
What they want to do with it is their decision.

[tosmartak]

You know, I honestly can't believe that an argument against 'Bitcoin Cash' is that bitcoin "doesn't need to be fast or cheap"...and that they wouldn't mind if fees hit $100 (you can literally hear Core supporters say this in interviews). The people promoting that side of Bitcoin are those trying to make Bitcoin expensive and only for the Elite.

How on earth are billions around the world (especially those in poorer countries, who arguably would benefit from it the most) supposed to utilize bitcoin if the transactions they try to make cost more in fees than the transactions themselves?

The fork is good and will allow people to do what they want to with their bitcoins without the fear of excessive fees and wait-times.

You are absolutely right. Excessive fees and long waiting times has really gotten so tiring and I hope with this fork, a whole lot will change.

[BTFree]

I have mixed feeling about the way this was handled, doesn't seem to be thought out very well.. IMO, the fork news should have been written with the common user in mind. "Bitcoin is updating software- you may experience delays in accessing your bitcoin. For more detailed information, click here. The End" I like to think that not all Bitcoin users are Tech Geniuses... At least that's the point in the long run.

Everyone scrambling to WD BTC from Coinbase, with other exchanges taking full advantage of the "Free Bitcoin Cash" Giveaway (smart marketing on their part) This whole last minute BCH Giveaway has created chaos. Also, volatility and uncertainty are not good for the common user. Will merchants ever accept Bitcoin Cash as payment?

[lethos3]

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