Bitcoin Cash forked from the BTC blockchain on August 1, 2017. After a week of trading, it settled in at just under 10% of the value of its parent chain. Could it make the leap to become the most valuable crypto of all time?
In this video, we discuss three reasons that Bitcoin Cash has the advantage in this fight.
1. Transaction Fees - 0:24
2. Mining Stability - 1:18
3. Satoshi's Vision - 3:04
The full Satoshi quote is as follows:
"Another option is to reduce the number of free transactions allowed per block before transaction fees are required. Nodes only take so many KB of free transactions per block before they start requiring at least 0.01 transaction fee.
The threshold should probably be lower than it currently is.
I don't think the threshold should ever be 0. We should always allow at least some free transactions."
About the show: One Minute Crypto is among the fastest-paced bitcoin shows in the universe. We cover everything on blockchain technology: walkthroughs, tutorials, news, and more.
Already know about that site. You should take a look at the graphs before commenting.
Another good one is coin.dance. Been mining since 2013.
From fork.lol, the site you just mentioned. It says...
"For example, using the DARI of the last block we can estimate that a BTC miner could potentially collect (12.58 / 11.84 =) 1.06 times the reward (in USD) that a BCH miner could collect."
I am die hard bitcoin fan, bought bitcoins at 50 usd each. But keep a eye on Bitcoin cash and have deliver 40% of my original bitcoins into Bitcoin Cash. If there are more good news i will slowly turn everything in BCH. Cant avoid this. I want the best coin and i lost almost 200-300 usd fee already from 10-11 transactions. Its too crazy for words.
A much larger percent of the general population can take down a Bitcoin Cash not so many can take down a Bitcoin! Small investors are going to see through the "im the original coin" reason to buy the 4300 dollar price. Its a timing thing. Right now the general population is just starting to learn whats going on in the Crypto marketplace, about 95 percent havent bought a coin yet. yeahhhh , don't run from Bitcoin Cash just yet.
you are very well spoken and clear and articulate. You clearly know what is happening and I appreciate your video. I have to just say one thing, it's hard to take you seriously when your wearing those headphones and holding the mic the way you do in this video. I'm not trolling you, your actually a pleasure to listen to and you have everything you need to do very well, but you got to do something about the look. The head phones look like ear muffs and the microphone looks odd because it''s white. It gave me the feeling it was 30 below zero where ever you were. But keep up the good work and thanks for the info, I subscribed so I'll see your next video. I like the back drop, the view is nice you just look a bit goofy and I though you would want to know.
Chronos Crypto all you are talking about is temporary. Most transactions in bitcoin network are spam and have largely stopped since the signing of the nya ( i wonder why ). There is no way to scale on chain. 8mb barely gives you 57 tps to put it into cobtext visa makes 10k tsp. The only way to scale is offchain with only the really important stuff onchain paying for the space on the 2mb space of segwit. The emergency dificulty adjustment threw bcash out of control and was more an attack on the main chain more than anything. You say bitcoin filosofy is less more expensive transactions, this is not true, lighning offers potentially infinite tps ( now we are competing with visa ;) ) this transactions will be incredibly cheap or near free. So you see there isbreally nothing bcash has that can make it a long term contender, except hype and misinformation that a few individuals press forward in order to line theyr own pockets. Hope i adressed most points. Sorry if its disorganices im at work.
BCash is just the fake project for those speculators and greedy casual users that never used Bitcoin or any other cryptocurrency at all for any purpose and that missed the boom in price of the original Bitcoin back in 2010-2013 and think that they will be able to surf this fake wave.
For those in the comments section who think they made any certain amount of profit in these last weeks since the inception of BCash, do yourself a favour, do a test, try to sell a small amount of BCash (less than 5 dollars) and you'll see if anybody is really interested in buying it. Then count the time it takes to sell it, and make the calculation. You won't ever sell more than 2000 dollars in BCash because nobody that is not speculator is not interested in that funny experiment.
I'm looking forward the moment it collapses, because no currency can keep up for long time when the only support it gets comes from a massive amount of speculators, not real users, interested in using that currency.
We need bitcoin to be and stay THE cryptocurrency. Or as you put it, to win. The main reason is that is another forked coin like cash could win, then what is stopping the next forked coin from taking over, and then the next and so on. The technology needs the opposite. It needs stability and to build user and consumer trust. Confusion and ambiguities and uncertainty..are not in anyone's interest..except maybe in the interest of FIAT.
Content is good BUT-You don't have to eat the mic, it's a radio mic, not made for had holding. You are popping and spitting on your diaphragm, and hiding your face, ammeter hour. and you are bent over to one side, looks a little crazy!
Thanks for the feedback! (No pun intended.) This is a USB mic, and I'm using OBS on Windows to capture the audio. Even with OBS volume at 100% and Windows Microphone volume at 95%, I have to eat the mic. Do you have a suggestion for Windows software video/audio recording? Thanks!
so if my Bitcoin was held on an exchange, or a wallet like Blockchain, that's where I'll find it?I mean, I've checked one of my wallets and it just says Bitcoin, same amount I always had. where's the Bitcoin Cash?
Why don't you use some of that profit that you made from cryptocurrency throughout the year and buy some mining rigs or start a mining Farm... who is stopping you? Since you think it's centralized... I didn't think so just sit back and complain as usual
Bcrash is a super-centralized scamcoin mined 95% by an unnamed pool, coded by 2 kiddiedevs who modified Core's code removing some security features.
Security/difficulty of btrash is 7,64% of Bitcoin.
Looking the actual pump coming from Korea and Japan, we can understand Roger Judas Ver is pumping his altcoin to try to catch up the $4Mln he and his friend Jihan did loose mining this egoïstic ponzi.
I believe in the Legacy Bitcoin as Saving account and using Atomic Swaps to spend them as petty cash in Litecoin which is faster, safer, totally decentralized.
Anyway, SegWit and Lightning Network should soon fix the fees and delays situation in Bitcoin.
Btrash for newbies vs Bitcoin for Bitcoiners.
Right. Makes sense. I know most folks are buying Bitcoin because of the price rise. Not because they understand or use it...
Roger Ver said if "certain things" happen he will go all in on BitCoin Cash. I'm thinking miners and wallets...
Chronos Crypto do you have a Steemit account? I would love to follow you if you do. Instead of sharing your information in my own posts I could simply resteem and upvote your posts!
Deeply intelligent information here produced by Chronos Crypto.
One thing I am certain of is people become attached to names.
And it's hard to reorient one's self after one has become a bitcoin enthusiast.
But it may be, at least according to the smartest people I can find,
that bitcoin cash is superior to bitcoin and will eventually become the new bitcoin.
A reversal may be happening soon.
Because people don't like paying fees, nor do they like waiting eternities for transactions to execute.
The better technology must always prevail.
I love the part about bitcoin cash staying positively aligned with Satoshi Nakamoto's original vision.
Do not believe in anything. Entertain all, but believe, attach yourself to, nothing.
Do that, and changing your mind almost on the fly about what you believe to be wise investments shall be painless,
because you're not attached to the merely prospective success of any one particular crypto.
It took 10 hours to confirm a purchase I made yesterday morning. 10 hours! Now my product didn't ship the same day as if I had paid with PayPal and won't ship till tomorrow. Such an inconvenience. I'm investing more and more into bitcoin cash after this.
1- segwit and lightning will help the transactions and fees;
2- the cartel that is mining bcash is losing A LOT of money. fact. getting my coins and moving to exchange was HELL. mining stability? don´t think so;
3- can´t say anything for satoshi, but I think he would be happy with the result of his work... transactions with no fees??? not sure how this could help, I´d like to know more.
bcash was a rushed developed coin, made by a cartel of miners trying to have more power than they should. bitcoin is about descentralization, THIS is the issue with bcash: it´s centralized and this is what matters the most.
When people get their bcash coins, beware, a lot will dump for bitcoin. lot of people still don´t have theirs. one that care for bitcoin should know by now that this fork orgy is really bad for the community, and should pay attention to those pumping this nonsense. LOT OF BAD players and payed trolls trying to pump this thing.
97% of bitcoin cash miners are unknown, that's right people "unknown" FUD, speculation, whatever, fact is 97% of miners are unknown anonymous, another fact is ..... any person, anywhere in the world can mine bitcoin cash, many miners are now switching to BCC now its more profitable to mine making transfer times sooo fast and cheap too, I can actually use BCC to send tips again no ridiculous fee's to be dealing with.
& Alberto here's a little history, bitcoin in its first month of life was mined by a handfull of people, so BCC in its first month is already many 1000's times less centralized then when bitcoin first mined its genesis block feb 2009.
those problems evolved over time (like segwit). Its no indicator weither it was satoshis vision or not. Im no expert, but i guess to persue his vision, some changes had to be made. Ill hold both, i dont really care who wins aslong as we all profit
Anybody anywhere can mine Bitcoin cash nothing centralized about that, bitcoin in its first month was only mined by a handfull of people so what's your point lol, 97% of the miners for BCC are unknown, do you know what unknown means ? Nope instead you spread FUD, please show me in Satoshi's whitepaper where he writes about segwit ? then try to tell me your bitcoin is original, Bitcoin Cash follows Satoshi's whitepaper and vision as a "peep to peer electronic cash system" - that's the title of his whitepaper.
Lord and savior .. lol .. if your talking about Satoshi, then perhaps you should read his whitepaper, you'll notice it does not say segwit anywhere, now with this in mind, which coin is changing & which coin stays true to Satoshi's vision ? bet you can't bring yourself to admit it :) to busy caught up in lord and savoir emotional BS to be rational. I bet you have never even read his whitepaper.
I think that IF miners implemented it, it would be great for the future of bitcoin. I don't understand why the core devs are so upset about it.. what's wrong with increasing network capacity and lowering fees? It is a step in the right direction towards bitcoin becoming usable as a day-to-day currency, and I think it would be one step closer to Satoshi's original idea for the currency. I'm not an expert, though; what are the downsides of 2X?
The miners are interested in finding a nonce which will create a hash with certain characteristics. Lastly, they have to find a random value that they included in the header, which makes the computed hash over that header a value below a particular target. In other words, they do not have to agree to change the protocol. Though there are a few gold diggers attempting to fill their pockets and certain projects that aren`t viable and shouldn`t be encouraged in any way. For users running a complete node, it is a fairly painless procedure to upgrade the software to the newest version. The process of locating a new block to extend the blockchain is known as mining. Proof-of-Work systems utilize cryptographic hashing algorithms to create the action of mining a block a complicated computation. Our software is totally incompatible with altcoins. Changes and modifications to how that it works need to be approved by consensus and every CPU gets a vote. To start with, it`s essential to realize that hardware wallet users control entirely their private keys. Whether you`re bullish or bearish on Bitcoin Gold, you ought not lose your coins as a result of careless mistakes! On the 1 hand, it may result in making a coin that solves all the pending issues. There`s no currency or digital asset named Bitcoin Core. Bitcoin Cash increases the range of transactions that may be processed per block. You could send any quantity of money, any place in the Earth, almost at no cost. You`ve made some great money already on the market, but you want more. For a wealthy individual, BTC`s price premium may be viewed as a plus. For someone without lots of money, BCH`s low price may look like a great deal for Bitcoin. If you have some concerns about the worth of Bitcoin after all forks, you need to be ready for a drop. The distinction is that not all of these suffer the chain split. The primary problem is Bitcoin imposes a hard limit on the magnitude of a block, the location where transaction information becomes stored. The end result is many straightforward wallets, called SPV wallets and very commonly found on your phone, will be quite confused about which chain is Bitcoin. In Bitcoin, the most important reason is known as the network effect.