You are viewing a single comment's thread from:
RE: The Upcoming Bitcoin Cash (Bcash) Hardfork - I Am Very Skeptical
Is it a hard fork like in Steem, when everyone adopt the new fork, or is it a true fork, like when BCH diverged from BTC?
From ur text it seems more like the former.
In this case, will it be the end of BCH?
I thought it was a decent currency, so why do it?
I am also confused. Will this result in 2 coins after the fork? Legacy bitcoin cash and new bitcoin cash? If so, any exchanges listing the new coin yet?
It is upcoming, so how can any exchange have an upcoming currency listed yet?
Many exchanges list coins prior to release and allow trading but not withdrawal (as you rightly said, they don’t really exist). I ask as the article doesn’t seem to suggest that 2 coins will exist after the fork.
How can it be done?
How can a nonexistent thing be traded?
For a swap to happen there should be a buyer and a seller.
If it does not exist, how can it be sold?
What happens in such a case if the ICO/HF is postponed or cancelled after people already bought it?
I don’t the precise mechanics but it has happened regularly. It also happened before bitcoin cash forked from btc. Some exchanges were offering the ability to trade it (or more accurately, a representation of it similar to a future). Possibly the exchange knew it had X btc on deposit, so would receive X bitcoin cash? I don’t know exactly how they manage risk.
Futures or options could have been sold, but remember that this is an upgrade, not an overly contentious fork.
You got a 12.28% upvote from @steembloggers courtesy of @stimialiti!
@youtake pulls you up ! This vote was sent to you by @stimialiti!
You got upvoted from @adriatik bot! Thank you to you for using our service. We really hope this will hope to promote your quality content!
You got a 13.33% upvote from @luckyvotes courtesy of @stimialiti!
You got a 10.00% upvote from @sleeplesswhale courtesy of @stimialiti!
@youtake pulls you up ! This vote was sent to you by @stimialiti!
There will not be a significant split. It is merely an upgrade.
So not a fork. In the usual sense unless a lot of miners remain on the old chain!
That's the thing though. A fork is simply a change in the software. Any upgrade is a fork.
Whether it's a soft or hard fork, it will always be a certain degree of "contention" either just human or between hashpower that goes along and hashpower that does not.
Regular users will not have to think it over. They use SPVs and just follow the chain with the most PoW by default.
This comment has received a 0.84 % upvote from @booster thanks to: @stimialiti.
Worded better...is the HF contentious or consensual?
Consent being the important part, as in any relationship.
There is always some contention with any fork, because it is a voting scenario where the largest pool of hashpower gets their way. (Even soft forks, as the voting is continuous and will express content or discontent with the soft fork features) But it avoids violence and it is not a traditional democratic or statist event.
The clear majority of the community does seem to support the fork, as judged by activity at meetups and in social media. However social media is fairly easily manipulated and meetups don't represent everyone.
In the end, the complete hashing nodes are the deciders and only cater to users ie consumers when it clearly is in their interest. (So called "full nodes" that don't mine we don't count, as they can be easily sock puppeted as well)
It will not be the end of anything. This article is mostly unnecessary FUD.