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> Who is 'people' here? People in the Bitcoin ecosystem. For example, when the Bitcoin/Bitcoin Cash split happened, you had people dumping one for the other t
by rawtxapp 6y ago
> Who is 'people' here?
People in the Bitcoin ecosystem.
For example, when the Bitcoin/Bitcoin Cash split happened, you had people dumping one for the other to manipulate the price in their favor, you had miners that decided which one they wanted to mine, exchanges that decided which one they wanted to put under BTC ticker and some people that just stayed on the sidelines waiting to see which chain would prevail.
For a brief moment, Bitcoin Cash was actually close (in price, adoption, etc), but then eventually people chose the original chain as Bitcoin and we know the rest.
- 3np 6y agoNitpick, Cash was the “original chain” as the split happened because what became the BCH portion of the network declined to adopt a proposed update Just goes to show it’s not necessarily clear cut what’s considered “original” at every point in time. Canonically, Bitcoin considers the longest chain in terms of accumulative difficulty (roughly translatable to hash power) the “real one
- gruez 6y ago>Nitpick, Cash was the “original chain” as the split happened because what became the BCH portion of the network declined to adopt a proposed update AFAIK adopting segwit is a soft-fork (existing clients will continue to work, only miners need to update), but raising the block limit is a hard-fork (all clients need to update).