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RE: Bitcoin Cash is forking, but it might take hours or even days before the first block is mined
I'd be interested to hear everyone's views on whether they'd like to see Bitcoin Cash survive or not? As a bitcoin holder, I think it would show great strength if the bitcoin cash fork fails - and it would send a strong message out to others who want to try such a fork - that it may not be worth the effort ;-)
I would like to see Bitcoin Cash failed. It will increase people's confidence in Bitcoin.
Couldn't agree more :)
Nice comparison, I'm a big history buff myself and that totally makes sense. I think it also applies to the cryptospace as a whole.. many experts are saying that a good amount of the cryptos out there will be gone in a year, 5 years, etc... similar to the dot com bubble. However, the ones that remain when the dust settles will be huge. Hopefully BTC will be one of them! #fingerscrossed
I'd like to see the process take place, and if the market kills off bitcoin cash, so the better.
Here's my logic:
In the beginning of my country (USA), we had multiple currencies floating around the colonies as banks, trading houses, and even gold purveyors competed for currency control. The people quickly figured out which currencies worked and which were bad; very similar to crypto-currencies.
The results, as you can imagine, was the killing off of 'merchant' currencies and the rise of gold/silver.
During our revolution we started printing paper money, which led to inflation and black markets in goods. After the war, the people quickly killed off the paper money and went back to sound money.
The point: Crypto is like America in the 1760's.
If bitcoin cash is crap, we'll kill it off.
I hope that the fork succeeds. I don't think it detracts anything away from BitCoin. Actually, I see it as confirming BitCoins' dominance in the crypto marketplace - because it is strong enough to not only survive a split, but produce forks which, essentially, could be seen as an ability for it to scale upwards when needed. Like, now it has 15% more bandwidth & can handle even more transactions. That's just one perspective on it - and I'm sure there are others, many of whom are much more informed than mine - but, that's I choose to see it. I hope they both succeed. I guess you could be like Grumpy Cat, if that's how you want to be:
Agreed, BUT that's a big IF.... it certainly might not fail, and in my opinion even if it does, it would take an extremely long time to truly go away since all of us BTC holders buy default will be receiving it, a large amount of us will just hold on to all or at least a good portion of it and see what happens.
I hope it succeeds. Realistically it's not offering anything huge but the success of it will change the direction of bitcoin, whether it's with Bcash or a different btc fork. Segwit isn't going to bring btc mainstream, that's just my opinion. But an acceptance of a different technical approach might. Also, I think more people will hold Bcash than people think.
Bitcoin needs improvements and even competition like this. The problem however is that Bitcoin Cash is very centralized having tiny support (at least at the moment).
Have a nice day. Wish you make a lot of money