"Are there any compelling arguments against Bitcoin Cash? The usual arguments go:
- "It's an altcoin" (ad hominem)
- "It's a scam" (how?)
- "It's not decentralized" (any data?)
Take note how the only arguments against it are namecalling and making fun of its supporters."
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Cotton.
No. Ignore them, they're just trying to protect their investment (BTC).
A lot of the negative stuff you hear about various coins is FUD to either a) drive the price down so whales can buy, or b) confuse new investors from buying the competition. It's a nasty business.
I don't even own any Bitcoin Cash, but only an idiot wouldn't be able to see how the tech is better than BTC. Faster, lower fees. BTC has to increase block size and they know it.
It is an altcoin - Indeed, Bcash was a hardfork without consensus, so a very small part split off from the real Bitcoin. So technically it IS AN ALCOIN and discussion about this is not possible.
It is a scam - Indeed it is a scam. Bcash can only exist because of years of hard work of the Bitcoin devs and it is only big because of the Bitcoin brand. Leaders like Roger Ver with his website is telling new people lies how Bcash is the real bitcoin (what is not true, see above). Beside that he is manipulating the markets and paying people to Shill his ALTCOIN. (see the Bcash chart priced in BTC, some very unnatural pump and dump spikes, clearly manipulation)
Bcash is centralized - Indeed, because of the following reasons:
-Mining is way more centralized and because the lack of Segwit asic-boost can still be used to mine Bcash. Thats why a certain group of miners can mine around 20% cheaper. This will cause the miners centralization to increase.
-Bitcoin doesn't have a leader because Satoshi disappeared, Bcash has a few leaders that are well connected to each other. Nobody can hardfork Bitcoin without a really good reason, when the leaders of Bcash decide they want to do a hardfork the Bcash sheeps will follow.
-Nodes are very important for the health of the network. If the majority of the nodes agrees about a certain transaction this transaction is true. One problem is that it is not financially rewarded to run a full node while it cost money to do so. The bigger the blocks the more expensive it will get to run a full node, so the less nodes there will be. To get to Visa capacity a Bcash block should be about 8 GB(!), this makes it only for a few rich companies possible to run a full node. By attacking these few nodes you can take the entire network down or by compromising them you can forse your own rules or steel coins. Every time the blocks get bigger it will be a bigger hurdle for normal people to run a full node and only some businesses will do. Is this the reason that most business people want bigger blocks?
I agree that 8 GB blocks are problematic, and I think 2nd layer solutions like lightning have their place in the ecosystem.
That said, there are no valid arguments whatsoever against a 2 MB block size limit, and the reason why businesses would like a block size increase (like in SegWit2X) should be fairly obvious, Bitcoin simply cannot be used by their customers without a block size increase.
In a sense, it's the bigger businesses that have most to earn on keeping the block size small; the bigger companies in the sphere can save fees on batching up lots of payments in a single bitcoin transaction, the bigger companies can lure in customers through "free off-chain internal transactions". I'd even go as far as to say that today it's totally madness to keep small amounts of bitcoins in a "real" bitcoin wallet, due to the transaction fees and unreliability one needs a third party to handle transactions. The block size limit is a hard capacity limit, so there are no room for growth, except in the "custodian" market, with people having bitcoin balances on the exchanges.
The biggest problem is that Bitcoin is losing dominance - it's down to 1/3 now according to coinmarketcap, only once before have it dipped below 50%. The exchanges are earning some money on this, as the altcoin trading volume is growing by every day, but crypto currency as such is losing a lot on not having a solid leader anymore.
In reality we have uncontrolled inflation in the crypto currency space now as the value is spread more and more thinly over more and more alt-coins.
All that just because of some people actively and constantly vetoing any motion of increasing the capacity limit all since 2015.
I'm not at all sure that Bitcoin Cash is the right solution ... but it's better than Bitcoin, by far. Bitcoin Cash as it is today scales much better than, say, Ethereum, partly due to all the work that has been put into optimizations and scalability the last two years.
You are asserting that the brand and the code belongs to the current maintainers of the Bitcoin Core repository on GitHub - this is a false assertment, both juridically and morally. Bitcoin belongs to everyone. Anyone can fork. I'd also say the brand and code belongs much more to Gavin Andressen (and, of course, Satoshi) than the current maintainers.
The only reason why Bitcoin Cash is an altcoin is that it has less PoW and less value than Bitcoin. This may change at some point in the future, in that case it would be more appropriate to skip the "Cash" part of "Bitcoin Cash" and rather add "Core" to the "Bitcoin".
In my book, a "scam" is when someone deliberately is trying to enrich themselves through some kind of fraud - for instance, "pumping" some altcoin project despite knowing that the project is doomed to fail, and then secretly selling all coins at premium price before the price crashes, and escape. I do believe that people like Roger Ver has put both a lot of money and efforts into "pumping" Bitcoin Cash (and that's probably the reason why it has a secure place on the top-five-list as for now), but I sincerly believe that it's because they believe in the project, not because they're planning to dump their coins for a premium price (if it was a "pump and dump"-scheme, it would probably have been dumped long time ago).
Only miners can secure the network. If the non-mining nodes are deciding the rules, we're opening up for protocol rule changes through Sybil attacks.
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