I don't know much about cryptocurrencies or economics or Bitcoin politics, but I don't think it's *magic money*. I believe they created value by providing a possible solution to an existing issue - that is, the scalability problem. Meanwhile, Bitcoin Core created value by reasserting its stability.

I also don't see the *duplicated* money as a gift, but rather as a statement. They are claiming the existing blockchain just like they're claiming the name *Bitcoin*. I see this as a battle of sorts over the future of Bitcoin.

Nonetheless, I'm glad to see this issue being addressed, and I'm really curious and eager to see how this evolves, whether we just kickstarted a descent into inflation, or whether Bitcoin just proved itself able to survive this kind of things.

Regards!

There is and will only be one Bitcoin. Bitcoin cash/segwit/xyz coin are all alts.

Wow ,, a very beautiful post @jrcornel
I like it

yeah it is a weird concept because it seems Federal Reserve like to just make money appear like that.   

It will probably happen a couple more times and like you said it won't work again.   

Clams did it before by saying if you had BTC or LTC between certain years then you would get Clams.   

I think what would be interesting if someone had a good project and they did that but said a certain portion of the coins was going to holders of like 10 different cryptos.   Then other portions would go to others.....etc.   To get wide distribution and have people looking at the project.

that is a good point. if everyone cashed out where would the money come from?

I think the hype built up over the months and years of debate was set on fire by the news mass media networks reporting on the split. Everyone and their grandmother got interested in Bitcoin and wanted to have one, but not before the split happened. Also, when the split happened, a lot of Bitcoin maximalists sold all the BCC they got for free to get more BTC and drive up the price even higher.

I hate to be the one to say it, but we need some damn oversight in cryptocurrency. At least some form of governance by the people to put some rules in place to prevent people from abusing the system. Otherwise we are going to see more and more attempts at this sort of thing.

For a long time stock splits have happened in the stock market. There were arguments that splitting a $100 stock with a 2:1 split would result in two shares worth $51. The reasoning with stock market stock splits was to keep stocks "available" to mom and pop investors. The current situation is interesting, and to a large extent is I think is the result of a lack of liquidity. To the extent it may help crypto currencies catch on it could be good. In my opinion, I think the lack of liquidity and stability, is a problem for widespread adaptation; however, it is noted that the other more centralized currencies that may have been structured as such have failed due to government regulations.  With significant Wall Street Money now interested; it will be interesting to see what is happening. This could well be the Tulip Mania of today.

Bitcoin introducing Segwit and lightning networks, it will make super fast micro transaction, much faster than Bitcoin Cash causing it to be worth pennies on the dollar. Right now people are mining it because it is cheap and easy to do so but they are not holding it long term.

There needs to be a reason to split. If not the community will not accept it.

Although bitcoin cash has a shared history with BTC, it didn't remove anything during the fork. Normally in any split, the remaining entity is lessened (as in a share split), which is why the value decreases. In this case, bitcoin cash is more of a clone than a split bitcoin. So it did not remove any value from bitcoin when it split.

Additionally I think there was a lot of money waiting to flood into bitcoin but the fork put them off, so they waited on the sideline until the fork was completed, then piled in.

Yea, it was overall like money from the air. I hope there won't be more forks because that will be unprofessional and real value of crypto will drop down.

lets hope that there will be no scam splits in future :) and only strong cryptos will split and make us money, and little will not do anything like that and dont lose our money

You are so right in everything you said..There is no free lunch in the world,everything has its price,so does this Bitcoin fork...I am afraid just like  you,because-the more successful Bitcoin becomes,it will have more enemies,trying to destroy it in any way

They need to rename Bitcoin Cash to Bcash or something so new people dont get confused

A president will not be dangerous if his policy is always in the guard by government observers. But if left then it would be very dangerous for a country. Thank you for sharing

I feel like all this rise we are seeing might have a massive crash , everyone is caught up in the highs and forgetting the lows . It's like they are trying to make us avoid the possibility is something going wrong and BAMM it's gonna happen @jrcornel

I had not thought of this perspective until reading your post. 

Hopefully, the enticement of greed and quick money does not overtake the miners or others who have the ability to collude and split the chain. On a positive note, it brings more credence to the value of a system like Steem has.

I think this kind of thing is dangerous. As you say it just leads to temptation for other to get in and do the same

new to this cyptocurrency thing so cant really debate, however im here for this topic and comments :-) good article .

I don't think its free money,  as they derive value from each other.

Sadly I was not holding my BTC in an account on Bittrex because I had to pay some bill at the time of  the split so I didn't get any free money.  I wish I had. I don't think BTC Cash is going to go anywhere though.

The point of the BTC/BCH split was an engineering upgrade to make the BTC technology more efficient. So from a technology standpoint, the market cap grows when the new technology is applied. Just like windows or apple system/software upgrades that create better technology, upgrades grow the market cap of those companies. If you are looking at BTC/BCH as purely a stock split then it does not make sense. If you look at it as an upgrade in technology then it should grow because of new interest and a higher valuation from the new technology added.

I was Thinking about this just today and was pondering the question as posed in a video i saw.   here is my question.  If Bitcoin is suppose to be a limited to 21 billion coins to create store of value like gold then how do you split a "gold coin" and not create an inflationary scenario?

Interesting perspective- one I hadn't considered. I've been watching BCC since its inception. It started at around $300 (that's the first I saw) and within a day had soared to around $1700. Then it plummeted to around 1/10 of that ($175) It looks like somebody made a huge profit and then tanked BCC afterward. I know I'm probably not saying this right... but it looks like a bunch of speculators created it, made a bundle then abandoned it! If this becomes a pattern, it doesn't bode well for HF's in the crypto market.

Not sure about a dangerous precedent , but the whole point is BTC/BCC and crypto is valued based on future expectation. if we try to value it based on % of forex transaction and store of value ,BTC might be valued at 100 of thousand dollars or more , thats just based on financial value.But we know that block chain can potentially change organizational structures,chain of commands, and currency system as we know it today.I donot know a precedent for valuing such a thing exist. If it makes a big social and financial change , which is very well possible,then crypto is way too undervalued!!! if not this could all come crashing down

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The point of the split was not to create "free money", and it didn't even do that.

The market cap of Bitcoin is ever-expanding, remember that as I elaborate on this point. When I got into Ƀ, the market cap was less than 10Bil. It's over 50Bil today. It will continually go up as more people get involved.

BitcoinCash had initial mining strength over 30+% and it has been slowly falling, but that's beside the point.

The point is, that when the mining power shifts, and a new coin is created -- the money does not come out of "no where". It comes from the other coin.

The reason you don't notice is because there has been a huge wave and surge of newcomers lately, which make up for the fall in price. If you will notice, Bitcoin did actually drop a few hundred down into the 26-2700 range for a bit, before skyrocketing to 3400+. 

The BitcoinCash caused a minor price decrease which was nullified by the newcomers and new bitcoin services that literally buy Ƀ at market value all day, indiscriminate of price.

All of these factors will cause the price of the original Ƀ not to fall, and to slowly climb. 

BitcoinCash was created to be the sound money that Bitcoin was envisioned to be, designed the way it was meant to be. It was not meant to be a money-making scheme, but a better way forward. 

I do not think it would be dangerous for Bitcoin if even 1000 alts are made from it, as we have now seen that the efforts of nearly 30%+ of the bitcoin and mining community have fallen upon deaf ears and are losing support. I think that coins with less noble causes would not succeed in the market, unless they sufficiently brainwashed the users into thinking theirs would somehow be superior.