Standardizing Bitcoin Cash as BCH

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Steve Sokolowski
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Standardizing Bitcoin Cash as BCH

Postby Steve Sokolowski » Wed Aug 02, 2017 8:44 am

I wish I had been around to write about Bitcoin Cash last week, but we've been very busy trying to improve performance of our system. My one-line advice last week, which appears to be good for this morning at least, remains: don't sell Bitcoin Cash. It's going to be up and down for months, but people like us who actually send Bitcoin will continue to notice that the SegWit2x Bitcoin will remain overloaded and unusable. Meanwhile, Bitcoin Cash cleared out its entire mempool with each block. Technical stuff like that actually matters. Plus, the SegWit2x Bitcoin still has the same Core developers to deal with, it will remain mired in political deadlock, and it has uncertainty about the upcoming hard fork.

But the main point of this post is to implore people to begin referring to Bitcoin Cash as "BCH," a ticker symbol that was previously unused. While the exact symbol is unimportant, this seems as good as any because it has the most widespread usage so far. I urge community members to drop other symbols like "BCC." For one, the multiple symbols needlessly complicates software. Chris has wasted over a day now rewriting code to deal with this inconsistency. There are no other major coins that have inconsistent ticker symbols across exchanges.

More importantly, BCC has long been used by Bitconnectcoin, a popular coin with a high market capitalization. A search for the price of BCC can return the price of Bitconnectcoin, which has no relation to Bitcoin Cash. It has also been used to refer to Bitcoin Classic and even designates a futures market trading the hypothetical user-activated soft fork, which was averted. This user-activated soft fork is the complete opposite of what BCH is!

Please consider referring to Bitcoin Cash as BCH. We are submitting tickets to exchanges to suggest the same today. Referring to the coin as BCC causes people to accidentally buy and sell Bitconnectcoin, confuses people about Bitcoin Classic and Bitcoin Core, and creates unnecessary coding and debugging to deal with conflicting ticker symbols.
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FRISKIE
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Joined: Sun Apr 16, 2017 12:51 pm

Re: Standardizing Bitcoin Cash as BCH

Postby FRISKIE » Sat Aug 05, 2017 3:05 pm

I'm in agreement with Steve's assessment and watching for BCH to bottom out before accumulating a strong position.

I'm also questioning the motives of those posting articles like "Why BCH is a house of cards" etc. as intentionally driving the uninformed public towards selling, these same people know better and will swoop in for BCH at bargain prices.

A very likely scenario going forward, I would expect any negative news with BTC, even small news, to cause BCH to rise in response - even small humps will offer an opportunity to take some profit off the table then buy again low >> rinse >> repeat.

The other more obvious and dramatic scenario would see issues with segwit come AUG 8th, unexpected technical issues, 2MB blocks quickly filled with latent capacity already present in the network etc. . .

. . as Steve points out, any serious issues requiring agreement on serious solutions are not promising with the BTC dev track record of inability to agree, just the prospect of another protracted debate will frighten an already debate weary community into possibly jumping ship . .

. .either way BCH value rises and the investment proves a good one.

One way I differ from Steve though is my advice to sell your BCH now while it's still reasonably valuable, then buy back at discount after AUG 8th - obviously I believe segwit will be implemented without issue and BCH value will collapse as result . . then, buy buy buy at a discount :)

FRISKIE
GAWminer27
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Joined: Sat May 27, 2017 6:22 pm

Re: Standardizing Bitcoin Cash as BCH

Postby GAWminer27 » Fri Sep 22, 2017 5:23 pm

I have a question for you, not sure if this is the right place to put it, but here goes.
I saved several hard drives with the entire Bitcoin Blockchain on them pre-fork July 26th to be exact.
My question is: If i want to fork one of these to the Bitcoin Cash fork, how would I go about that?
Thank You.

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