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After years of debate, the Bitcoin community could not come to an agreement about the future of the cryptocurrency. Now, the currency is set to split into two, leading to the creation of an entirely new currency called Bitcoin Cash.

Bitcoin users have found themselves in the middle of a fight between developers, who want to retain the blockchain that protects the cryptocurrency from hackers and miners who want to double the blockchain size to make the network faster.

The disagreement might lead to a ?user-activated hard fork? of Bitcoin Tuesday, which would create a brand new cryptocurrency out of the Bitcoin blockchain ? the publically shared ledger that stores all bitcoin transactions and protects the currency from manipulation.

The new currency, Bitcoin Cash, would share the same blockchain history with the original bitcoin currency. However, it would also increase the blocksize from a maximum limit of 1MB, or about three transactions a minute, to 8MB. The new currency would also have upgrade rules that miners claim would allow it to grow and scale.

According to the community-supported website Bitcoin.org, the limited size of the legacy blockchain caused the currency to hit an ?invisible wall? in 2017. They claim that Bitcoin stagnated and became unreliable when users had to wait days for their transactions to be confirmed, causing businesses and investors to abandon the currency; and its market share dropped from 95 percent to 40 percent. \

By raising the block size to 8MB, Bitcoin Cash will allow more transactions to be confirmed faster, which some users claim would cause investors and businesses to return.

"The creation of Bitcoin Cash is certainly a pivotal moment for Bitcoin and its community," Charles Hayter, founder of digital currency comparison website CryptoCompare, told CNBC. "The inception of Bitcoin Cash may prove to be exactly what Bitcoin needs."

Bitcoin.org states that anyone who owns bitcoin will automatically own the same amount in Bitcoin Cash after the fork. However, the site warned those who are using third-party exchanges to inquire with them to ensure their money will be safe during the transition.

Karen, the largest Bitcoin exchange, announced its support for Bitcoin Cash Thursday.

?Although the Bitcoin Cash fork is expected to be minor, it may be successful,? the announcement said. ?Provided that unforeseen circumstances do not make it prohibitively unsafe or difficult for us to do so, Kraken will support Bitcoin Cash.?

Karen pledged to credit clients with Bitcoin cash equal to their current holdings of bitcoin. However, the exchange warned margin traders to plan for ?the possibility of extreme volatility and unfavorable forced liquidations surrounding the fork.? Karen called for margin traders who are worried about potential losses to close out their accounts entirely before the fork.

Other exchanges like Coinbase have said they would only support one version of Bitcoin.

?We have made this decision because it is hard to predict how long the alternative version of bitcoin will survive and if Bitcoin Cash will have future market value,? David Farmer, Director of Business Operations at Coinbase, wrote in a blog Thursday.

While many are afraid that the fork could cause chaos, the price of bitcoin has gone from around $1,900 two weeks ago to $2,856.18 Monday, according to Coindesk.

Continued https://www.rt.com/usa/398148-bitcoin-cash-fork-before/

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Bladewire

The people pulling these strings makes it clear it's a pyramid scheme

"Bitcoin users have found themselves in the middle of a fight between developers"

The top of the scheme and the string pullers

ruff

You two certainly do not let lack of knowledge keep you from posting about BTC do you?

PaperstreetWinston

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jscott

that's entertainment Bladewire you still believe that really ? Earth is flat too ?

onwebcam

Not only that BCH makes for a nice auditing tool.

This could very well end crypto. May even be a Trojan Horse. It was only a matter of time before the central banks made their move. This could very well be it.

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blackmonsters

OK, but why did you remove your sig with the cryptocurrency links after this thread?

https://gfy.com/fucking-around-and-pr...in-stolen.html

Just curious.

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seeandsee

Who is using BC mine power?

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xXXtesy10

fakecoin news

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rowan

3 transactions per minute? The exchange is called Karen? Quality reporting right there.

Bladewire

The RT article you quoted states specifically that the developers are making the decision of whether to fork or not. They are in control, you are not.

The people in control, the developers, pull the strings, according to your article.

You're not very smart

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Bladewire

The developers & exchanges control BTC, as the OP's article states, they are at the top of the pyramid, traders are lower, end users at the bottom of the pyramid. It's very simple. What do you not understand?

Those mining machines, what a scam, constantly having to upgrade, sometimes before you receive the order of the "new" equipment it's already out of date and it has to be pawned off to someone newer to the game who doesn't know any better.

Bladewire

Even the title of this thread is a lying scam "Bitcoin could ?fork? itself trying to split into two separate currencies"

No.... Developers and exchanges are colluding to manipulate Bitcoin and after they fork it decide what they will and won't support, the string pullers manipulating a currency.

Bitcoin isn't doing shit to "fork itself" so deceptive.

Sarn

life is pain

Bladewire

You get what you deserve.

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Sarn

not mine, I am not suffering when reading about Bitcoin in RT

Bladewire

I'm not either. You're not good at trolling, if that's what your odd posts are about. Take a few more English lessons, including a comprehension class.

Russian Sanctions signed!

Sarn

no lie me, you are "triggered"
else need to add Putin's photo, he is guy which control Bitcoin

Bladewire

All the more reason to stay away from Bitcoin.

It's pretty clear you don't know the meaning of the word triggered.

bns666

just thought the same

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ruff

You intimated in another post that I might be a sig whore so I thought if I am going to comment on BTC I will leave those links off.

ruff

I didn't quote any RT article. So who's the smart one?

ruff

These two quotes reveal fully your complete lack of understanding of Bitcoin and Cryptocurrency. I mean, really, you do not have even a basic clue. It's not only you but a few of the other rock sacks that have no qualms about showing your ignorance in every post about BTC. I would be embarrassed to continue if I were you, but I see that you will continue. So be it. Myself and others make money, a lot of fucking money, because we bothered to get some education. The proof is in the pudding. There is no fundamental difference between a gold bar, a diamond, a stack of 100 dollar bills or a Bitcoin, except the intrinsic value someone or some entity gives them. People all over the world assign a value to BTC because there is a limited number of BTC that will be produced. Period. But guess what? It's not about using Bitcoin as a monetary instrument, it about the blockchain. So all of you Einsteins get on Google and get yourself some goddamn knowledge or shut the fuck up.

Smack dat

Bitcoin is evolving.

Smack dat

I heard about Bitcoin in mid 2013ish and around that time I had access to 24/7 free electricity. I should and could have bought one of these 'mining machines'.
Pretty sure if I had I could have made enough from mining ETH, BTC, DOGE, DGB, BTM that it would have made it a worthwhile investment.

Sarn

it is new technologies
I am put "" because I mean meme in this word

blackmonsters

You actually give a shit about someone on this board calling you a sig whore????

WTF?!



See sig.

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oppoten

You and WHP should race each other to the JQ

jscott

If i withdraw my BTC to paper and trade them for cash at local crypto meetups, who controls my BTC then? Which developer and which exchange? peer-to-peer usage is a great benefit of crypto.

Also, you mean the OP post about "Karen, the largest Bitcoin exchange", that information is all kinds of correct

If you cannot compete in mining, or cannot profit from it, then STAY OUT! Same as if you cannot profit from trading any crypto right now, if you cannot read the graphs and use common sense to create profit then you need to go back to basic economics class in high school, come back once re-graduated.


It's nearly impossible to have a discussion with those of you who don't understand. I respect an opinion, but based off bad info I just cannot. Especially while spreading the bad info.

seXXXhub

pyramid scheme ? whats the pyramid u poor idiot ?

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Bladewire

Oh I never tried mining I watched a couple great documentaries on Bitcoin and it was clear what a scam it is.

The fact guys like you insult people who ask questions and repeat facts your own articles state, says a lot. When developers & exchanges start telegraphing how they're going to tinker with your digitial currency you're fucked, sooner or later

The guys at the top win, everyone else loses, oldest scam in the book layered in a "digital currency" package.

I've been making a killing with the stock market I'll stick with gambling my money there thank you very much

jscott

well great, problem (with you) solved

Bladewire

you are the worst promoter of Bitcoin possible I don't think you realize how self defeating you are

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Bladewire

Bladewire

Bladewire

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Bladewire

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Bladewire

jscott

I am not promoting bitcoin, trying best I can to correct misinformation that people like you are putting out there.

These article links are proof of what you're trying to accomplish.

You are posting negative bitcoin articles and scams going on using bitcoin as a tool, the same as Madoff with the USD. USD is a scam?

for example one of your articles ...

"Garza's GAW Miners and ZenMiner purported to provide shares in cloud-based Bitcoin mining machinery, but nothing like that was ever built by the operator."

This guy was scamming all the way through, this had nothing to do with actual bitcoin, it has to do with this guy offering things that he did not deliver.

Bladewire, have you even read these articles or just posting search results of "bitcoin scam"?

ruff

Winning:
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seXXXhub

i wonder if some of the posters here manage to tie their shoes alone .. u either are over 60yo, or u're dumb as fuck ; i bet u dont even know how to make a btc payment too

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rowan

I have to kind of disagree with you there. Bitcoin is like any other open source projects, where egos, socially inept larger than life personalities, and politics get in the way, but in this instance the stakes are much higher. In addition, the 'Core' client is basically the de-facto Bitcoin network, but any changes are controlled (or lobbied) by a small group of people.

One of the bitcoin devs (gregory maxwell) went rogue on wikipedia several years ago. Borderline batshit crazy (ok, let's call it 'disruptive') kind of stuff. This is the guy who can change code in the Core client.

https://www.reddit.com/r/btc/comment...toxic_gregory/

jscott

Thank for the link Rowan. what's his status now? any idea?

From what you said, along with most replies in that thread, this guy seems to be a madman!!! His motto: "I am bitcoin"

rowan

I started reading more myself after finding that link for you. Not just about gmaxwell, but about other members (both past and current) of the core team.

It's quite disturbing to see the amount of bickering and abuse that is flying around on public forums, posted by people who are in control of (or have close ties to those who control) "the one source." As one person put it (paraphrasing) these are socially inept nerds, not people people.

Everyone has an agenda to push, and I think it's safe to say that most do not align with Nakamoto's original vision. I believe that's why Gavin Andreson left.

rowan

By the way, BCH is now being bought at about 0.28 BTC. So if you bought $1000 worth of BTC a few days ago, and sold off your BTC and BCH now, you'd have $1280+

I was concerned that the BTC price would fall to compensate for the added value of BCH, but it hasn't happened (at least, yet). So for those who got in early it really is free money.

onwebcam

Did you read this one?

https://www.reddit.com/r/btc/comment...odd_both_just/

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rowan

Yep. Everyone's going crazy about the segwit buzz (lots of people asking "when u gonna add segwit feature" in altcoin threads) but I don't think the technical aspects are well understood (beyond "it's gonna let Bitcoin grow yuuge, absolutely yuuge")

The way I understand it, the main proponents for segwit also happen to be part of a company (blockstream) that needs segwit to function (and therefore profit). Seems like a conflict of interest to me. Like I said above, Bitcoin development is no longer about altruism, it's about egos and profits.

rowan

https://np.reddit.com/r/btc/comments...he_bilderberg/

Bitcoin Core is controlled (effectively) by Blockstream who have a giant multinational insurance company as their major investor.

So much for liberty and sticking it to The Man...

rowan