Newbie question on uahf-version

[Christian Stöckle]

When looking at the download section, I read this alert:

(This release implements the UAHF/BUIP055 specification, also called Bitcoin Cash. This release is being offered by the Bitcoin Unlimited Developer 'unofficially' until the BU community has the opportunity to vote on whether Bitcoin Cash should be officially supported.)

How likely do you guys think that Bitcoin Cash will be embraced by Bitcoin Unlimited?
Do you think there is a chance that BTC goes to significantly bigger blocks anytime soon and
that the horrific transaction fees drop significantly?

If the big block and on-chain scaling section would win on BTC, this would rip off the usp that Bitcoin Cash currently has.

From all the discussions and information I read in the past weeks, I concluded to sell off all btc and change it all for bch/bcc. So if btc would be able to get back to get the point about peer-to-peer digital money, I would be screwed. So these concerns are important for me.

Thanks for any input / opinion.

Chris

 

[AdrianX]

welcome @Christian Stöckle

How likely do you guys think that Bitcoin Cash will be embraced by Bitcoin Unlimited?

I think all members support user choice and bigger blocks, so very likely support to continue in the short term. That alert is:
1. a disclaimer as BU members never voted on supporting 2 chains, developers just doing what they think is the right thing to do, so it's not official.
2. is to just let people know there are 2 bitcoins. (possibly 3 )

Given limited time, available expertise, developer enthusiasm and resources, I expect the ideologies of the chains to diverge. When it diverges enough I think developers will need to choose where to focus their efforts. For now BCC in my mind is doing better than expected and it is relatively little effort to support both so I expect the status quo to continue.

BU developers have issued more BUCash updates lately than official BU updates if that is any consolation.

Do you think there is a chance that BTC goes to significantly bigger blocks anytime soon and
that the horrific transaction fees drop significantly?

that is the plan that is what Segwit2X NYA is all about, it has 90% industry support so I expect it to happen, the BS Core developers are opposed to increasing the native transaction limit, so there is some uncertainty as to what happens.

I always expect political pressure to limit transaction demand for Layer 1 (on any segwit chain). The BS/Core developers want limited capacity so the layer 2 banking layers are attractive to users. I expect the political pressure to increase as more are invested in layer 2 banking. BCC demand in my opinion will grow as a result.

If the big block and on-chain scaling section would win on BTC, this would rip off the usp that Bitcoin Cash currently has.

Yes! but can they win? TPTB who who govern the 7,000,000,000 people of the world are invested in keeping transactions off the Bitcoin blockchain and have the global GDP run on a layer 2 system where they have more control. I expect them to invest more effort than is imaginable to limit assess to the bitcoin blockchain. be it 1MB ot 2MB, the fight for larger blocks may be 6 years old but it's only just started.

BCC for now is not threatening to limit on-chain transactions or enable Layer 2 Banking on the base protocol level, so it's looking like a good buy for me for a high risk long term investment.

So these concerns are important for me

for us all. if it's any consolation I'm hedging in favor of BCC my target ratio is 1 BTC: 1.3BCC. No one has a crystal ball, I think there is enough room in this space for multiple winners.

For those who have not been following the debate I'm advising them to just hold both, and new comers I'd advise to buy both.