Bcash is promoted as the real vision of Satoshi and the real Bitcoin. This post will be short because I wrote on this subject already HERE, HERE and HERE. I will just describe two cases that recently catched my eye and made me angry because many newbies will be mislead and buy a useless coin.
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You can’t count 0 confirmation transactions as a spend according to Satoshi
Bcash is working on 0 confirmation transactions, it is one of their biggest innovations (rejected in BTC for security reasons btw a few years ago). This means that you don’t have to wait for a transaction to be confirmed, so a payment will be instant. However, this comes with a big tradeoff, it will be at the cost of security. As you can see, Satoshi would not agree on this development of Bcash:
0 confirmation transactions are obviously NOT Satoshi's vision!
This is hilarious, because ‘Satoshi’s vision’ is always the selling point of Bcash, even their conference is given this name……
A recent tweet from Roger is proof of his technical incompetence
Roger Ver tweeted this:
Speaking about technical incompetence..........
There are two things I want to say about this: Firstly, when you use old Bitcoin software from the time that Satoshi was still around and led the project and you synchronize to the blockchain, you will be synchronized to the BTC blockchain and BCH will not be compatible, so not visible. What do you think is the real Bitcoin?
Furthermore, Satoshi left the Bitcoin project to the community to evolve through consensus that HE build into the system himself. Consensus means that a majority of the community votes by running certain software. The community decided that Segwit should be implemented (huge majority) and less than 5% voted for the Bcash hardfork. The Segwit upgrade passed and the Bcash upgrade failed according to SATOSHI’S VISION. Bcash is a failed upgrade!
Conclusion:
Bcash itself is not a scam, it is just an old version of BTC with many additional risks. The way it is promoted IS a scam, because new users of cryptocurrency will be mislead, make wrong investment decisions and lose money or get confused. This scam is at a bigger scale than Bitconnect and thus worse for the community. Despite the fact I hope the bear market is almost over, it should be good for the industry overall when it rages on for a while and washes out the Bcash scam too.
Disclaimer
This is no financial advice, just my view on the market.
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This blog is new information especially for new commers in the steemit community. Thanks for sharing such a valuable information.
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Thanks for this post bro!
I was on piratebay yesterday and I saw this at the bottom of the page:
Your article pretty much sums up how a great deal of people feel about BCH at the moment. Lol.
Great info! Upvoted, Followed and Resteemed by @cryptoryno33
Rumor says there is going to be another fork. The new one is going to be the real Bitcoin in the future. Lets see, the cryptospace is so exciting isn't it? :)
News is very interesting about bitcoin and many can be a benefit for the dollar person thank you gor sharing @michael
Post like this is a good and beneficial teng BTC and BCH @michiel
This article on Bitcoin -vs- Bitcoin Cash explains in detail the truth about BCH:
https://steemit.com/bitcoin/@workin2005/bitcoin-btc-vs-bitcoin-cash-bch-the-great-block-size-debate
it is time to be more carefull regarding investment
Bitquin is a very large coin that will remain the most expensive electronic currency
All currencies are tracked
Wonderful post ..thanks for sharing...Best of luck friend ✫
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I'm with you on this one BCH is a scam. On top of that this bear market will weed out the scams.
Post like this is a good and beneficial teng BTC and BCH @michiel
The perform of bch is really Frustrating. I don't think it will be scam because it's still in no 4 position but should be developed something. There is a wrong with bch.
Why would anyone wants a zero confirmation transaction? Confirmation is there so that the people doing the transaction can double check if the transaction is okay and reduce transaction mistakes. 0 confirmation transaction should never be implemented EVER! Seriously, what were they thinking? Thanks for bringing this to light @michiel
Now a days crypto market is death.why? Do you know ?
Thank you for this useful information. It was very useful for me to read it. Good luck to you and Love.
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bcash, bcash, bcash, It's not BCHASH! (bcash)
It goes like this,
Remember that BITCOIN is use to be like a PAYPAL. Thats it! A lot of people do not know that!
Ah, BCH is a project that is doomed to fail and many people are speculating about what the next BCH will be. No amount of shilling by Roger Ver will save it. Now that the Lightning Network is set to be rolled-out with the reductions in transaction times and fees, there seems to be little point in having two Bitcoin branded projects. Also, as we know, the 8mb block size of BCH makes it too insecure.
There's no "perfect system". Why don't we let the developers figure it out before we brand names on them. FUD don't help cypto in any way expect lowering its trust and value.
Zero CONF was part of the Bitcoin code until replace by fee was instituted by the Core team after Satoshi left the project. You have your information incorrectly presented.
I know Bcash has some fans, but FEEL WARNED!
https://steemit.com/bitcoin/@truth-exposed88/bitcoin-cash-bch-new-scam-try-by-roger-ver-watch-out-new-propaganda