BCH vs. BTC or The Raise of Bitcoin Cash

Discussion in 'Cryptocurrencies' started by Pekelo, Nov 10, 2017.

  1. Pekelo

    Pekelo

    This thread is to discuss technical differences and the price action between Bitcoin and its only fork, Bitcoin Cash.

    My prediction is that in the long run BTC will have a better % return. In the last few days after the canceled SW2 fork, BTC has dropped 10% while BTC rallied 30%.

    For the record the current prices are:

    BTC: $6580 (Bitstamp)
    BCH: $880 (average at worldcoinindex)
     
    Last edited: Nov 10, 2017
  2. Pekelo

    Pekelo

    Kind of early but the current trend is money flowing from Bitcoin to Cash.

    BTC: down to $6436
    BHC: up to $980

    Anyhow let's start the discussion with the transaction fee. BTC's is a cool $8. How would you like to buy a $5 Starbucks coffee and pay an extra $8 for using a crypto? BCH's tx fee is minoscule compared to that, about 10 cents.

    https://bitinfocharts.com/comparison/bitcoin cash-transactionfees.html
     
  3. Macca1

    Macca1

    Have ever sent/ received BTC before? $8 fee to send $5? GTFO. $8 is the "average" transaction fee. You could send 1BTC for an $8 fee.
     
    Last edited: Nov 10, 2017
  4. Hoi

    Hoi

    I'm in the crypto scene for a long time, and know many. But to my knowledge nobody is buying coffee at all. That's not were CURRENTLY Bitcoin is used for. So we don't CURRENTLY need this feature much. In other words: BCH hasn't a use case at this moment in time. (maybe in 5 years or so).

    Currently BTC is used as commodity (not a currency) or store-of-value. And for that its worth to pay $2 (which I paid recently) if you want to exchange $100000 in a very secure way to the other side of the world.

    The current BCH run, is nothing more than a pump, which will get its dump in a few weeks. Any price above 8% of BTC is too high.
     
    Zr1Trader, Macca1 and MrMuppet like this.
  5. Here4money

    Here4money

    Bitcoin cash has the advantage of having started with the same user base as bitcoin, so that's a giant plus that many detractors choose to ignore. I haven't kept up with the tech to see if they addressed the scaling issue or how Bitcoin plans to do same without splitting.

    Cash has had a what, 5 year tech advantage?, yet I'm not sure if it reflects in the coin. As far as I know, it was a big push by mining houses to make a buck.
     
  6. Pekelo

    Pekelo

    That is exactly the problem. After all why would you use a currency to pay for products and services? That is a silly notion!
     
  7. Pekelo

    Pekelo

    I stand slightly corrected. Yet, you could send the same amount of money for 10 cents using Bitcoin Cash. :)
     
  8. carrer

    carrer

    For daily personal use, I think the people will pick Bitcoin cash as it is faster and cheaper.

    Bitcoin is more like gold, rarely used for transactions, but used to store value or as an investment.
     
  9. Hoi

    Hoi

    No it's not. And you aren't an expert in this as you haven't used Bitcoin ever! Only trolling about it.
     
    Macca1 likes this.
  10. Hoi

    Hoi

    BCH is technically nothing more than an Alt-coin, and lacks some essential features which even Litecoin has. I dare to say that Litecoin has more use-cases around the world than BCH currently.

    BCH only has a 8mb block, but that doesn't make it faster: still 10 minutes. Indeed fees are currently lower than BTC, but that's more because nobody is using it: the blocks are empty. And also here: LTC has even lower fees and has 2 minutes confirmation-times.

    But what is really a drawback: BCH doesn't have the Segwit technology (which BTC and LTC have). And thereby has the famous malleability-bug (and attack-vector)! Which means that BCH isn't built for the future, it cannot have side-chains, no second-layer, no Lightning-network and other innovations (smart-contracts).
    BCH is only focused on buying a coffee, for which better alternatives are available (just cash for instance).
     
    Last edited: Nov 11, 2017
    #10     Nov 11, 2017
    Macca1 and carrer like this.