Monday 16 July 2018

BITCOIN PRICE: Ethereum and Bitcoin Cash investors at WAR

https://bitcoincraze.xyz/bitcoin-price-ethereum-and-bitcoin-cash-investors-at-war/-



One of the interesting anomalies to emerge over the last six months is the rivalry between believers in Bitcoin Cash (BCH), and Ethereum (ETH).


The almost quasi-religious argument is basically Ethereum enthusiasts claiming their coin preserves an untampered – pure – history of the Ethereum blockchain, free from interference.


While Bitcoin Cash supporters claim that their fork is a faster, more reliable version of Bitcoin, and a better example of the “true vision” of Bitcoin creator, Satoshi Nakamoto.


The experts have weighed in on feud and Maxwell Arnold co-author of the crypto Laser whitepaper told Express.co.uk that, “the beef seems to stem from the idea that as ETH transitions to proof-of-stake – as opposed to proof-of-work – it will supposedly make ETH less secure – whereas Bitcoin Cash is based on proof-of-work.”


He said: “As ETH doesn’t necessarily have a fixed supply, it raises questions as to the value of the currency, compared to Bitcoin Cash, which does have a fixed supply just like Bitcoin.”




Reddit threads have emerged exploring the hatred between the two communities. Bitcoin Cash believers say that there was an organised attempt to create a negative sentiment towards Bitcoin Cash and label it a scam.


User regecide2025 describes his experience discussing Bitcoin online as “annoying”.


He said: “I don’t have a problem with Bitcoin Cash. I have a problem with the community since they decided attacking people and if you try to have any conversation with them it turns into ‘you’re a paid core shill’ or ‘you’re just afraid of BCH’.”


User Uncle-Badtouch agrees, lamenting the “cult-like behaviour” of bitcoin believers, and comparing online discussion over the two coins to, “being attacked by scientologists”.




Thomas Bertani, Director of Eidoo told Express.co.uk that the Bitcoin community as a whole does not appreciate Ethereum as it is built on different assumptions.


He said: “People say Bitcoin is simple while Ethereum is easy – there is a substantial difference there. On one side you have the simplicity of the building blocks of Bitcoin, which make it easy to analyse and to make strong, on the other side you have a more complex environment – the Ethereum one – which looks simple to developers and which makes it very easy to build other things on the top.


However, the debate rages on. Hitting back against criticism of Ethereum’s protocol online, Reddit user Mowglio described Bitcoin Cash as “literally the cheap Chinese knock-off of Bitcoin”.


On the controversial Bitcoin (BTC) to Bitcoin Cash BCH ‘fork’, he said: “It would be like if I copied a computer games code and then spent huge amount of money on marketing saying that my version was the real game.


“All I did was change a couple of things and the name and boom.”


Mr Mowglio adds, “In the real world this would be illegal, but in crypto world it makes you filthy rich.”


This idea of ‘forked’ coins is, according to Jacob Papageorgiou, Head of Education at London Block Exchange (LBX), likeable to how popular films are ‘rebooted’.


Like the recent Ghostbusters reboot, he said: “The new film aims to retain enough of the original while using the best available technology to improve it. However, just like movie reboots, they can anger purists who feel the original shouldn’t be meddled with.”


But why the anger? Isn’t there another, more centralised enemy?


Mr Papageorgiou adds “we’re talking about people who will have spent years working together on developing software, and so when a disagreement causes such a schism, it divides the community in an extreme manner.”


He said: “Debate can become heated and supporters of new and old protocol alike can be extremely passionate about their cause’s side.”



Source: https://www.express.co.uk/finance/city/958173/Ethereum-Bitcoin-cash-price-ripple-BCH-cryptocurrency-BTC-to-USD-XRP-news-war


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