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RE: Bitcoin Cash (BCH): Why So Much Hate for BCH?

in #bitcoincash7 years ago (edited)

Bitcoin Cash is the exact same thing as Bitcoin except it has a different block size and a different network. The block size makes it more expensive to mine. Also, because it was new, it was supposed to have lower fees. Maybe not any more.

Bitcoin Cash was put on the GDAX exchange right after Bitcoin started to go down from its peak. It may have spooked new investors because it was a "fork" of Bitcoin and when you first learn about Bitcoin, it is advertised as better than fiat because you can't just decide to make more of it whenever you wanted to. Forks seem like a cabal of Bitcoin insiders doubling the number of coins on a whim - especially for something like a simple change in blocksize.

Personally, I didn't like the way Bitcoin Cash was advertised. There were owners (not just Ver) all over the discussion pages claiming it was the "new Bitcoin" and that they were converting all their Bitcoin to Bitcoin Cash and only investing in Bitcoin Cash. It was really annoying.

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I'm still trying to figure out if BCH was inflationary. My understanding is that once the fork happened, everyone who held BTC received the same amount of BCH because the blockchain had to re-do all of the transactions. So I could see why if you were a longtime die hard BTC advocate that would be hard to endorse.