Update: Account was restored. Account suspension could be due to an underlying feud between Bitcoin Cash and Bitcoin
Image sources:
Bitcoin cash: Wikimedia Commons
twitter-screenshot
6 hours ago The Verge posted an article titled, "Twitter briefly shut down @Bitcoin, sparking wild conspiracy theories" by Adrianne Jefferies. I was thinking, it must be Twitter's attack on Bitcoin again, now that cryptocurrency ad bans will soon be implemented on their social media platform. What is shocking is the underlying feud that exists between Bitcoin and Bitcoin Cash. This has sparked allegations that @bitcoin on Twitter was previously hijacked by Bitcoin Cash supporter, Roger Ver, to spread Bitcoin Cash propaganda.
Image: Taking a look at Roger Ver's counter-argument on Twitter
Disagreements between Bitcoin's core development
Bitcoin Cash, is a Hard Fork from Bitcoin which took effect in August 2017. The Hard Fork came about disagreements with increasing bitcoin's block size limits and to keep Bitcoin's transaction fees low. Bitcoin is now labeled 'Bitcoin Core' to distinguish itself from Bitcoin Cash. With my limited knowledge of their feud, I can only wonder why Bitcoin refused to increase its current blocksize of 1MB? The ultimate use of Bitcoin as a cryptocurrency for day-to-day transactions requires a fast network and low fees.
Bitcoin vs. Bitcoin Cash
I didn't expect the news to have much deeper roots, deeper information that is required for me to make a good judgment on either to continue to stick with Bitcoin [BTC] or divest into Bitcoin Cash [BCH]. Bitcoin Cash currently ranks 4th in cryptocurrency coins and to be a well-informed crypto-investor is to take into considerations both sides of the argument. At this point, I can only provide a reading list for myself and everyone who is curious to know about Bitcoin Cash. I am not your lecturer so these links are not compulsory :)
Reading list:
https://www.investopedia.com/tech/bitcoin-vs-bitcoin-cash-whats-difference/
https://blogs.systweak.com/2017/12/bitcoin-vs-bitcoin-cash-cryptocurrency-clash/
https://news.bitcoin.com/12-reasons-bitcoin-cash-real-bitcoin/
Open discussion
What is your opinion about Bitcoin Cash? Could Bitcoin Cash be the new Bitcoin as Bitcoin's core technology phases out? What are the chances that Bitcoin Cash can become the dominant market player, knowing that Bitcoin now holds the majority of the cryptocurrency market? How about other cryptocurrencies, do they stand a chance to overtake Bitcoin?
-tysler
Image source: Wikimedia Commons
Great article, thanks for sharing. I've smashed the upvote button for you!
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In my opinion BCH is a LTC-wannabee; every claim BCH makes as to why they are the real Bitcoin is already covered by LTC and a multitude of other coins withe even faster transaction speeds and lower tx fees. That's totally besides the technology used or the size of the blocks, if if you want to go there, off-chain solutions like SegWit and Lightning Network are the way forward in my opinion simply because blocks cannot scale indefinitely; it would become too expensive for Joe Schmo to run a node, thus promoting further centralization.
Also, there's little to nothing known about BCH's development team and its main spokesperson, Roger Ver, is becoming more of a controversial enigma each passing moment: Roger Ver: Bitcoin Responsible For More Babies Dying Around The World.
Just my 2 Satoshi.
Thanks again for some great info and keeping us on the forefront, @tysler!
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Hi I see, never seen BCH as a LTC-wannabe. Very true how many newer coins have already faster speeds. Now Bitcoin has already implemented SegWit, and also planning to increase blocksize to 2Mb and SegWit2x. SegWit helps to keep the blockchain manageable and smaller in size by removing the signatures previously required in Bitcoin's older technology. So instead of increasing their blocksize, bitcoin made their blockchain 'smaller'.
Both arguments seem valid, but in terms of the management, Bitcoin Cash is shady. so totally agreed with your point. Thanks for sharing the article!
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The propaganda on both sides is getting to much!
Kinda sick of it on reddit
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oh gosh. more for me to read and understand this situation :/
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BTC has become one of the few capital owned assets, most of the mining miners has been difficult to profit.
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yes, if insufficient fees were given to miners, then there is no reason for mining to happen. Hence, a chicken or egg thing. It will collapse
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BTC mining work difficulty is more and more big, very afraid of mine accidents, traffic circulation environment is a test for BTC, although LTC than BTC technically perfect, but each have each benefits. Now the mainstream or BTC. I am very bullish on the future of the BTC.
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Hello friend, I loved your publication. I support you with what you say, I invite you to visit my profile and have your support, greetings.
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thank you lots :) -tysler
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Thanks for sharing.
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