Re:The first Bitcoin Cash block has been mined
by Taek on Tuesday August 01, 2017 @04:10PM
(#14904813)
No, not quite. It's like having $25 in your wallet in USD, and then next time you look at your wallet you have $25 in USD and also $25 in USD-different. Then you go to the store and find out they only accept USD, and not USD-different, but if you go to a currency exchange you can trade your USD-different for $1 or $2 in USD each.
Not a great analogy I guess, but the point is that it's definitely not the same as having a new denomination of currency. It's a whole new currency entirely, it's just that everyone who had Bitcoin was "granted" (sorta) this new currency too, in the same volume that they had the old currency.
Re:The first Bitcoin Cash block has been mined
by sixdimensional on Tuesday August 01, 2017 @05:03PM
(#14905291)
I understand - thank you for sharing!
I find it interesting that the two split and then essentially float as different currencies at different rates. Surely, there will be some inter-relationship between them as well.
If the number of bitcoins you have stays the same, but just the block size of storage in transaction changes, then I'd guess it's very similar to a bigger unit of currency.