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RE: BITCOIN CASH HAS A BRANDING ISSUE July 25, 2017
The headache for the exchanges should not be underestimated. There are several exchanges which put their BTC into storage and then create a mini-economy around them. If an exchange or other entity has their BTC lent out to 5 different people, it is fine, until all those people line up for their rights to the BTC-C. (There can be only one.) This is the Black Swan element of this announcement, and it remains to be seen how it will play out. This will be a very interesting next couple of weeks.
The only headache should be how to show the differences between the many future tokens with overlapping tickers.
There will be more.
I'm confused, how can there be only one? There will be an equal amount of bitcoin cash created for each current bitcoin in existence.
Yes, but because of the limitations of the Bitcoin blockchain, the exchanges can find efficiencies by putting the BTC on ice and creating a faster, internal coin for transactions. You only really need to think about the uniqueness of each Bitcoin when you are settling someone up. When a customer asks for their $$ back, you better be able to give it back.
I believe we've seen this in a couple of places over the last few months.... certain coins had wallet maintenance at very pivotal moments. You can bet that the exchanges have a certain amount of fractional lending going on. If they have to get called on it, this seems like one killer way to do it. They may have customers with claims to someone else's Bitcoin-Cash. And when those customers find out, they will vote with their feet.