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Tough time for BCH community

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Written by   281
4 months ago

The information provided on this article are only from an amateur view, and should not be used as a conclusion or judgement on the subject of this discuss.

Following the upgrade proposal on the Bitcoin Cash Difficulty Adjustment Algorithm (DAA) by lead developer Bitcoin ABC, Amaury Sechet, which was detailing written by @georgedonnelly here and translated to Germans language by @Telesfor here and several other languages. The Bitcoin cash community is up for a tough time that might lead to a lot of unwanted situation to this crypto currency called Bitcoin Cash BCH that we all cherished.

Since the announcement was made of the upgrade proposal, discussions concerning the Bitcoin cash DAA has course a serious debate among Bitcoin cash proponents and stakeholders. @georgedonnelly article revealed that the intention of Amaury Sechet was to fork away BCH for the creation of his coin which may be refer here as "Amaury coin". For this, Bitcoin cash proponents and stakeholders were advice to keep an eye on Amaury Sechet. But it seems we might have to look farther than that, based on the current situation on ground.

While this in-house fighting and quarreling is going on, Viabtc’s founder Haipo Yang has announced a new fork of BCH called Bitcoin Cat. According to News.bitcoin.com, Viabtc’s founder Haipo Yang has been toying with the idea of a new BCH fork. The Viabtc executive has been tweeting about the subject often and he also published a blog post on Medium about the experiment as well. On August 5, Haipo Yang tweeted:

"I am considering building a new Bitcoin fork inherited from BCH called Bitcoin Cat. It’s a temporary name. Cats are cute and harmless, so they won’t have a war".

Haipo Yang stated on his recent tweet that BCH need real leaders and that everyone who has love Bitcoin cash is welcome to join him and build CAT. On August 6, Haipo Yang dropped a more controversial tweets that made the Bitcoin Cat and the Bitcoin cash fork just more than an idea. According to him now is the time to make Bitcoin cash great again. His tweets reads

“If Bitcoin Cash removes the unspent transactions outputs UTXOs that never move since the fork, we can double the block reward and fund the foundation without the IFP and without breaking the 21M limit".

Should Haipo Yang's idea be implemented, Bitcoin Cat will be a third or even a fourth fork on Bitcoin cash BCH, and this is likely to be born on November 15 according to source.

Unlike Amaury Sechet that we can not tell where exactly he is heading, Haipo Yang's Bitcoin Cat fork away is a finalized idea. Haipo Yang proposed that the Bitcoin Cat will have a number of differences than BCH and other blockchains as well. He said that smart contracts will be important and the basic script operations on Bitcoin are insufficient. Also he thinks the mining algorithm should be further modified to be more ASIC-friendly in the future.

This is indeed tough time for Bitcoin Cash community ecosystem. A great time of uncertainty among Bitcoin Cash holders and users. Should oppositions prevail on Amaury Sechet proposals then a fork away for his coin is eminent through ABC. Amaury Sechet calculation is that Bitcoin Cash Node BCHN must acknowledge blocks originating from ABC, and not the other way around. What this means is that, should the BCHN has more hash than ABC going forward to November 15, an Amaury Sechet fork is inevitable. More worrisome is that should this split takes place, the BCHN chain might be cleared out if the BCH chain become longer than the BCHN chain after the split. Amaury Sechet is very uptimistic about this as he clearly stated on a meeting with Cointelegraph, that there is no way any trade in their correct brain will list an Asset that face a clear out. His position is that oppositions might be forced to execute a crisis hard fork to substain the chain.

My conclusion

Going by these developments within the Bitcoin Cash community, Will BCH survive a double split? With two hard fork aiming at BCH what will be the position of BCH among other giant crypto currencies going forward after the double fork. I don't have the technical expertise to address these questions, hence I leave these to those who has the technical know how to profer answers to.

References

@georgedonnelly

@Telesfor

News.bitcoin.com

Cointelegraph.com

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Written by   281
4 months ago
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Comments

B h will come oit strong

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4 months ago

Certainly, that's what we look forward to

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4 months ago

A no-IFP chain, will surely appear, and probably be the most relevant.

There will be at least one miner who would not accept a block that just orphaned another, perfectly valid block for no good reason. From then on, we have two chains, and the mining power will balance the usual way.

It is not necessary to program a hard fork. A miner can choose which chain to extend by choosing which block to reference in his block header. This has always been the case. He can include any transaction, refuse any transaction, refuse any block. He is motivated by doing the right thing for the market, because if his own block is orphaned, the block reward goes down the drain.

In the current software you can specify which block to build on, or rather not to build on, with the command "invalidateblock". It "Permanently marks a block as invalid, as if it violated a consensus rule." This command can be issued in real time by the mining node operator.

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4 months ago

Thank you so much for this information, you have provided deep insight into the matter. And thanks also for the tip

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4 months ago

I believe BCH will pull out stronger

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4 months ago

This may bring a difficult time to the bitcoin cash community. Two fork almost at the same time! But I trust the BCH community will thrive back and maintain its stand. It is a matter of time and the whole community will be able to determine this.

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4 months ago

My brother this thing is a serious matter, greed is so much among BCH community

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4 months ago

This is saddening. Similar matter like this also made MarcDeMesel not to have interest in BTC again

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4 months ago

The issue now is that Amaury Sechet is not ready to back out of the proposal

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4 months ago

Good article

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4 months ago

Thanks for the encouragement

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4 months ago

The most difficult part, is to make humans to agree, for long. Preferences, and egoism, create those kinds of results.

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4 months ago

Egoism you said is the foundation of all the problems within the bitcoin cash ecosystem. Do you know this article was rejected to feature in the bitcoin cash community here on read.cash? Judge this yourself, is this article out of subject or misleading? There is total madness within the bitcoin cash community.

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4 months ago

There is total madness, in human communities generally, nowadays.

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4 months ago

verg well said my dear thanks for thos nice article jope to read more of you soonest

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4 months ago

You are welcome, certainly more articles on the way

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4 months ago

❣️

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4 months ago

Well explained sir. Thanks for sharing this helpful information

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4 months ago

Good to know you gained some knowledge from the article

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4 months ago

wow great to learn fron your article

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4 months ago

You can get permission to translate it into your language for your people for read by tipping this article if want to.

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4 months ago

Wow..you are so brilliant

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4 months ago

Thanks

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4 months ago

Good article

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4 months ago

You are welcome

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4 months ago

Anyone can create a new coin at any time. You need node-software, miners and network. If there is only one miner (Haipo) and there is no network, the coin will not inspire trust, because the coin is centralised and depends 100% on the miner. The next question is, who should write the node software for it. I do not see any candidates. So from my point of view it is not a serious matter.

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4 months ago

Thanks for the tip

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4 months ago

You Haipo do not have the infrastructural power to succeed should he venture into creating a new coin

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4 months ago

Yeah i agree hoping bch will come up again and to the infinity and beyond

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4 months ago

That's what we all went

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4 months ago

Sir can i get your permission to translate your article in Bengali language?? It’s really important to know everyone. But most of the people are not good at English. So i think It's helps all Bengali users.

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4 months ago

Did you read @georgedonelly article? If you do you will see at the base that everyone who desire a translation is required to leave a reasonable tip to get the permission to do so. Mine is not different, if you want a translation leave a reasonable tip on this article. Good luck

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4 months ago

Yes sir read thos article. Also i read your's article. But i find that not so difference.

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4 months ago

There is difference, while his article focus on Amaury Sechet as the main issue affecting bitcoin cash, mine reveal something more deeper. If you want to translate do tip my article for get permission

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4 months ago

Tip means. I need to upvote your article sir??? Or something else

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4 months ago

It's called tipping from your wallet

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4 months ago

How sir??

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4 months ago

Don't you see where they wrote encourage the author to write more at the bottom of this article, click on it and send a tip. That's all

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4 months ago

Sorry sir. I just do a mistake. That i want to know how many

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4 months ago

You can tip from $1 to $2 to have it translated to any language you want.

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4 months ago

I haven’t too many money so i cannot give you too many. But i love bch and i want that my own people know about bch more at his/her own language.

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4 months ago

Thanks for the tip, you may proceed to translate the article in your language. But you must not change the authorship.

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4 months ago

subcribe me please ...i also back you granted

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4 months ago

You don't have anything to read on your profile, why?

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4 months ago

You are welcome

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4 months ago

you are welcome

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4 months ago

I missed Bitcoin

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4 months ago

Nice updates

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4 months ago

I am working on this new site. I like it very much. I like everyone's article very much. I like it more if you go to it.

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4 months ago

From bitcoin cat to bitcoin dog then bitcoin elephant 😅 am i talking about zoo? A crypto zoo? Haha

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4 months ago

Nice article

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4 months ago

Nice article

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4 months ago

Haipo has indefinitely put on hold his Bitcoin Cat concept.

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4 months ago

That's good to hear, I was almost becoming restless due to the situation. If bitcoin cash community could be in a battle on two fronts, that might be terrible

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4 months ago