Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts
231
ArchivedStickied post

All FAQs listed below have been pulled directly from the bitcoincash.org website. If you have any additional questions and answers to add to this, please leave a comment in the thread below or message the mod team.


What is Bitcoin Cash?

Bitcoin Cash is peer-to-peer electronic cash for the Internet. It is fully decentralized, with no central bank and requires no trusted third parties to operate.


Is Bitcoin Cash different from 'Bitcoin'?

Yes. Bitcoin Cash is the continuation of the Bitcoin project as peer-to-peer digital cash. It is a fork of the Bitcoin blockchain ledger, with upgraded consensus rules that allow it to grow and scale.


If I own Bitcoin, do I automatically own Bitcoin Cash too?

Anyone who held Bitcoin at the time Bitcoin Cash was created became owners of Bitcoin Cash. This means that Bitcoin holders as of block 478558 (August 1st, 2017 about 13:16 UTC) have the same amount of Bitcoin Cash as they had Bitcoin at that time. If your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your Bitcoin Cash.

Any transactions after the August 1st ledger split are completely separate between Bitcoin and Bitcoin Cash. This means any Bitcoin acquired after the split does not include any Bitcoin Cash, and any Bitcoin Cash does not include any Bitcoin.

How is transaction replay being handled between the new and the old blockchain? Bitcoin Cash transactions use a new signature hashing algorithm indicated by the flag SIGHASH_FORKID. These signatures are not valid on the legacy blockchain. This prevents Bitcoin Cash transactions from being replayed on the Bitcoin blockchain and vice versa.


Why was a fork necessary to create Bitcoin Cash?

The legacy Bitcoin code had a maximum limit of 1MB of data per block, or about 3 transactions per second. Although technically simple to raise this limit, the community could not reach a consensus, even after years of debate. ​ Was the 1 MB block size limit causing problems for Bitcoin?

Yes, In 2017, capacity hit the 'invisible wall'. Fees skyrocketed, and Bitcoin became unreliable, with some users unable to get their transactions confirmed, even after days of waiting.

Bitcoin stopped growing. Many users, merchants, businesses and investors abandoned Bitcoin. Its marketshare among other cryptocurrencies quickly plummeted from 95% to 40%.


Does Bitcoin Cash fix these problems?

Yes. Bitcoin Cash immediately raised the block size limit to 8MB as part of a massive on-chain scaling approach. There will be ample capacity for everyone's transactions.

Low fees and fast confirmations will resume with Bitcoin Cash. The network will be allowed to grow again. Users, merchants, businesses, and investors will return.


Why didn't Bitcoin raise the block size if it was easy?

Some of the developers did not understand and agree with the original vision of peer-to-peer electronic cash that Satoshi Nakamoto had created. Instead, they preferred Bitcoin become a settlement layer.

Many miners and users trusted these developers, while others recognized that they were leading the community down a different road than expected.

These two very different visions for Bitcoin are largely incompatible, which led to the community divide.


Which Development Team is In Charge of Bitcoin Cash?

Unlike the previous situation in Bitcoin, there is no one single development team for Bitcoin Cash. There are now multiple independent teams of developers.

This decentralization of development (and decentralization of software implementations) is a much needed and important step forward.

231
99 comments
0
Comments are locked

Iron Man or Captain America? Sign up for Reddit Gifts Marvel exchange by August 19th and set the record straight!

0
comment
3

Bitcoin Cash can now be traded with the Indonesian Rupiah (IDR) at Coinhako.com with our latest IDR/BCH pairings.

Get an account with us today https://www.coinhako.com/users/sign_up

Find out more here: http://blog.coinhako.com/coinhako-officially-launched-in-indonesia/

Coinhako is the easiest way to buy, sell and store digital assets in Asia.

Website: https://www.Coinhako.com |Facebook: https://www.facebook.com/coinhako/ |Linkedin: https://www.linkedin.com/company/coinhako/ |Coinhako Indonesia Instagram: https://www.instagram.com/coinhako.id/

3
comment
1

UK Trading Platform Crypto Facilities Launches Bitcoin Cash Derivatives

UK-based virtual currency futures exchange Crypto Facilities has added Bitcoin Cash (BCH) to its list of derivative offerings. According to a company statement, the USD-denominated service went live on Friday, allowing traders to long or short futures contracts that have BCH as the underlying collateral. The contracts join a list of derivatives currently offered by Crypto Facilities, which includes Bitcoin (BTC), Ripple (XRP), Ethereum (ETH) and Litecoin (LTC).

“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of BitcoinCash futures....

https://www.bitseven.com

BitSEVEN | Bitcoin Mercantile Exchange: Trading, Up To 100x Leverage

Trade Bitcoin and other cryptocurrencies with up to 100x leverage. Fast execution, low fees,available only on BitSEVEN.

1
comment
1

Adult Website Tube8 Partners with VIT to Offer Users Crypto Rewards

Adult entertainment streaming website Tube8, owned Pornhub’s parent company MindGeek, has partnered with crypto and blockchain provider Vice Industry Token (VIT) to tokenize its platform and reward content viewers with digital currency.

The agreement, first announced by Hard Fork and confirmed by Vice Industry Token via its Twitter profile, will see Tube8 implementing VIT into its ecosystem before the end of 2018.

According to Tube8 spokesperson Robin Turner, both companies aim “to [expand] their user bases and [increase] engagement with their respective products through [this] collaboration.” He added that the move represents “a paradigm shift” in the way people consume adult entertainment.

“For as long as I can re...

https://www.bitseven.com/en

BitSEVEN | Bitcoin Mercantile Exchange: Trading, Up To 200x Leverage

Trade Bitcoin and other cryptocurrencies with up to 200x leverage. Fast execution, low fees,available only on BitSEVEN.

1
comment
13

Hi everyone,

Coins4Clothes will be a vendor today at Toronto's Kensington Flea Market (214 Augusta Ave ; 12-6 PM). We will be accepting gently used clothing donations and paying the clothing donors with Bitcoin Cash.

We will also be selling some of our higher quality donations to raise more funds for the charity. We will be accepting both BCH and Cash for our items, with a discount applied in BCH. I spoke with some locals in the area yesterday and am now expecting quite a few people new to crypto to get their introduction tomorrow!

I will also be handing out educational material on Bitcoin Cash, along with some Bitcoin.com swag to our clothing donors. Please drop by and say hello or shop for some vintage clothes, or bring some gently used clothes to earn some BCH.

We've spoken to all of the vendors about accepting BCH. We even offered to buy back their BCH from them. Some are interested but none have confirmed. I'm excited to see if any will be accepting it this time around!

I'll do my best to update this post when I'm there, however it may be tricky on mobile. In the meantime please be sure to follow us on twitter @coins4clothes or on instagram @coins4clothes

Some items I purchased at the last flea market. I even paid with Bitcoin Cash for three of them!

Photos from our last meet up where we collected over 450 articles of clothing.

30 points
13
comment
7

New Local Bitcoincash Exchange

r/https://www.localbchexchange.com

We have been working round the clock for some months now and are please to release local Bitcoincash exchange. The site allows you to trade fiat for Bitcoincash from over 257 countries with over 170 currencies. The site also supports 9 languages

Here are some features of Local BCH Exchange:

  1. 257 countries supported

  2. 170 Currencies supported

  3. 28 Payment methods supported

  4. 9 languages

  5. No fees

  6. Escrow Service

  7. Wallet Service

  8. 2 factor authentication for withdrawals and logins

  9. Trade disputing

  10. Live chat between trading partners

  11. Creating of adverts

  12. Trader reports and statistics based on IP location and trade statistics

  13. And many many more features ….

Find some screenshots attached

7
3 comments
4

Talking with a co-worker about bitcoin and BCH he sounded interested. Asked him if he wanted to see it work. Told him it would only a min to setup. He said sure. I had him download the bitcoin.com wallet to his phone. Sent him $2. Took barely a second to send and receive. He was like woh... I said that's why I'm going with BCH. He ask if I wanted the $2 bucks back and said nah you keep and send it to the next person you show. ;)

72 points
4
comment
0

Anybody wants to buy?

0
2 comments
4

https://www.bbc.com/news/amp/world-asia-india-45231222

As we know, the recent floods in Kerala, India are the worst in 100 years. The full extent of the devastation still can't be calculated but its effects will easily be felt for a decade or longer. The death toll has already risen to around 350 people and still climbing. The people of Kerala need our help.

There’s an opportunity for the Bitcoin community to come together and help those in need in India. This is also an opportunity to show the Indian government that crypto is more than just scams in India but rather an international community of people who can help and will use their resources to support those in need.

Specifics on the process and how to make crypto donations is up at https://pocketbits.in/KeralaFloods

BTC can be donated at 3AWu8QKH5TqvrswfbjVyAbnufCRfaHy9Bf

Thank you to PocketBitsIndia inkparadox joel_john95 21Gabru, indiabits21 and the BlockHack community for getting this moving so quickly!

Please feel free to share across if you think this is something you can support. Thanks!

4
comment
15

Download the latest Bitcoin Cash compatible release of Bitcoin Unlimited (1.4.0.0, August 17th, 2018) from:

 

https://www.bitcoinunlimited.info/download

 

This release is a major release which is compatible with the Bitcoin Cash compatible with the Bitcoin Cash specifications you could find here:

 

A subsequent release containing the implementation of the November 2018 specification will be released soon after this one.

 

List of notable changes and fixes to the code base:

  • Graphene Relay: A protocol for efficiently relaying blocks across a blockchain's network (experimental, turned off by default, set use-grapheneblocks=1 to turn it on, spec draft )
  • blocksdb: Add leveldb as an alternative storage method for blocks and undo data (experimental, on-disk blocksdb data formats may change in subsequent releases, turned off by default)
  • Double Spend Relaying
  • BIP 135: Generalized version bits miners voting
  • Clean up shadowing/thread clang warn
  • Update depends libraries
  • Rework of the Bitcoin fuzzer command line driver tool
  • Add stand alone cpu miner to the set of binaries (useful to showcase the new mining RPC calls, provides a template for development of mining pool software, and is valuable for regtest/testnet mining)
  • Cashlib: create a shared library to make creating wallets easier (experimental, this library factors useful functionality out of bitcoind into a separate shared library that is callable from higher level languages. Currently supports transaction signing, additional functionality TBD)
  • Improve QA machinery (travis mainly)
  • Port Hierarchical Deterministic wallet (BIP 32)
  • add space-efficient mining RPC calls that send only the block header, coinbase transaction, and merkle branch: getminingcandidate, submitminingsolution

 

Release notes: https://github.com/BitcoinUnlimited/BitcoinUnlimited/blob/dev/doc/release-notes/release-notes-bucash1.4.0.0.md

 

Ubuntu PPA repository for BUcash 1.4.0.0 is in the process of being updated

15
comment
30

this is a follow up to my previous post about eatBCH convincing a merchant to sell them food for BCH directly in Venezuela

After this post I asked eatBCH for a public address from the merchant so that we could show him some love, here is the interesting interaction that followed up:

Zhell 

[...] Can you share with the community a QR code of a public address from the wallet of the store that accepted Bitcoin Cash ? I think many would like to show them some "special support" too for being the first store to accept BitcoinCash in venezuela

.

eatBCH 

Thank you for the support Zhell!

This store is not the first store to accept Bitcoin Cash in the country, but it was the 1st food seller near us. There's a whole group of people talking merchants into Bitcoin Cash, thanks to the Bitcoin Cash fund initiative #GastaBCH.

You don't have to donate to this store, they are getting paid fully in BCH. if you still want to, you can use this address:bitcoincash:qptepkfel2plpvgmlnykcl62za8y5dh29qj0vts7yw

Thank you!

.

mishapelt

I think what @Zhell means, is to surprise that merchant, for his act of accepting BCH from you; it feels wonderful when out of nowhere a tip comes.He can not experience this feeling when accepting payment for selling food/goods.There is something human in it. In all the technology, digitalization, anonnymity, automatization, crizes, wars, carelessness,there is the feeling, that somewhere, someone, cares...

here is a link to the address in the bitcoin.com block explorer which displays a QR code for practicality : https://explorer.bitcoin.com/bch/address/bitcoincash:qptepkfel2plpvgmlnykcl62za8y5dh29qj0vts7yw

Even if you are like me and cannot tip much, remember this is worth a lot more in Venezuela and I think can really help adoption grow by showing merchants some strong support from the community.

__________

PS: if you want you can make sure the address in this post is the same as the one given by eatBCH by checking it from the interaction we had on Yours directly here: https://www.yours.org/content/eatbch---july-report-863f8ef95386#comment-9299c58e1708

61 points
30
1 comment
Community Details

35.9k

Subscribers

4.2k

Online

Bitcoin Cash (BCH) brings sound money to the world. Merchants and users are empowered with low fees and reliable confirmations. The future shines brightly with unrestricted growth, global adoption, permissionless innovation, and decentralized development. All Bitcoin holders as of block 478558 are now owners of Bitcoin Cash. All Bitcoiners are welcome to join the Bitcoin Cash community as we move forward in creating sound money accessible to the whole world.

Create Post
Cookies help us deliver our Services. By using our Services or clicking I agree, you agree to our use of cookies. Learn More.