Many of my friends work regular jobs and do not have time to nerd out on every technical detail of Bitcoin and its forks. This type of stuff only confuses the average everyday HODLer. Last week, the bcash PR machine kicked in full tilt hyping it as the next best thing, and the market reacted! Sadly, many of the big Crypto news sites jumped on the bcash hype train. This only confused people more who were looking for another perspective.
My phone and email have lit up the last few days with all kinds of questions about bcash. Rather than answer myself, I hit up Vortex from The Bitcoin News Show for some of his Bitcoin wisdom on the matter.
Why did Bitcoin and bcash split in simple terms?
There was simply a clash of ideologies due to a lot of fundamental misunderstandings of the technical details about how Bitcoin works. One side believes that increasing the block size is the best idea in near term, and one side believes there are far more clever and safer ways to optimize throughput before needing to execute such a heavy handed approach. If there is indeed going to be a hard fork, there are far more important things to be added then a simple increase of a number.
What should Bitcoiners know about Bcash that the bcash proponents do not want them to?
The biggest thing would be how centralized bcash really is.
Why is there so much confusing information being put out hyping bcash as the next best thing?
Bitcoin will always have enemies and will always be attacked 24/7. Such is the nature of a giant glaring light in the darkness. It can't help but be seen and felt by all and therefore will always be a threat to that darkness.
What should new Bitcoiners beware of with bcash?
Their constant misinformation about the technicals of Bitcoin. They need to know what the real Bitcoin is and why. They need to know that bcash is an alt coin, has a CEO, and is centrally controlled. If they are OK with this, then why don't they just use PayPal?
What is the long term impact of bcash on Bitcoin?
Not much. In the end it's another alt coin. It will be pumped and dumped on many occasions. However it does not have the technical chops to compete with bitcoin in the long term, or the short term for that matter.
Special Thanks to Vortex for helping making this happen. Check out his show, “The Bitcoin News Show,” on World Crypto Network. Find him on twitter @theonevortex
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