Blockchains don't move. There are now two blockchains that share a common history. What is moving is the HASHPOWER: the computers that add blocks to the blockchain are moving more and more to hashing the Bitcoin Cash blockchain and less and less on the Segwit chain. Bitcoin Cash could survive with minority hashpower because of big blocks.
Segwit Bitcoin will quickly turn to dust if it loses too much hashpower because it won't be able to process transactions with the 1MB limit.
I agree, but having said that, the central banks will be watching it's popularity (thus a threat to them). Central Banks aren't going to simply sit by and cry in their cups of coffee while crypto's railroad them out of existence.
Just something to think about!
The banks are going to have a tough time stopping Bitcoin Cash. I expect draconian laws to pop up that ban it, and probably arrests to scare people into compliance.
You might very well be right, @thesaurus. My own humble opinion is that I think it will slowly keep going down for another couple of weeks before it settles. People are still too new to it and too nervous to pick it up before they see it evening out. Once it does, that's when we'll see what it can really do.
Good chance you are right. I read tonight almost 50% of bitcoin blockchain has moved to BCC.
Wow, what a day!
Blockchains don't move. There are now two blockchains that share a common history. What is moving is the HASHPOWER: the computers that add blocks to the blockchain are moving more and more to hashing the Bitcoin Cash blockchain and less and less on the Segwit chain. Bitcoin Cash could survive with minority hashpower because of big blocks.
Segwit Bitcoin will quickly turn to dust if it loses too much hashpower because it won't be able to process transactions with the 1MB limit.
Good chance of it. But don't forget it's fairly new and volatile. patience is a virtue. Followed you and upvoted. Feel free to follow back. Cheers
What happens if the split becomes 60% to 40%? Will the lower percentage lose value as the higher percentage gain value?
To avoid confusion I think its wise to start refering to Bitcoin Cash with it's official "ticker", which is BCH.
BCC is already taken by Bitconnect and also used for Bitcoin Core i believe.
Good catch...Thanks!
Well stated and true you are.
Anything is possible at this point....I cant wait to start taking trades on BCC :)
When bitcoin rises does that also mean this digital currency will go up? Steemit value might increase?
I agree, but having said that, the central banks will be watching it's popularity (thus a threat to them). Central Banks aren't going to simply sit by and cry in their cups of coffee while crypto's railroad them out of existence.
Just something to think about!
upvoted
The banks are going to have a tough time stopping Bitcoin Cash. I expect draconian laws to pop up that ban it, and probably arrests to scare people into compliance.
You might very well be right, @thesaurus. My own humble opinion is that I think it will slowly keep going down for another couple of weeks before it settles. People are still too new to it and too nervous to pick it up before they see it evening out. Once it does, that's when we'll see what it can really do.