BitPay Will Process Payments on Multiple Blockchains, Starting with Bitcoin Cash

Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by jncraton on Saturday December 16, 2017 @08:09AM (#15939376)

I agree with most of what you said, but I would add that part of the value of Bitcoin vs other cryptocurrencies comes from its incredibly high PoW difficulty. The Bitcoin network currently completes 14 quintillion sha256 hashes every second. A similar amount of computing power would need to be controlled by a successful attacker.

I understand that miners can choose to leave Bitcoin, and this is largely dependent on price, but historically, Bitcoin provides the most security, so it is the safest crypto for storing a large amount of value.

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Re:BitPay Will Process Payments on Multiple Blockchains, Sta... by lawn on Saturday December 16, 2017 @09:13AM (#15939603)

Yes, that's exactly what I mean with it depends on the price. Historically most miners switched to Bitcoin Cash whenever it was more profitable to mine. With the new EDA the miner ratio is expected to follow the price ratio. So if Bitcoin Cash ever were to have a higher price than Bitcoin they would get the most miners. In the long run this would make Bitcoin Cash the chain with the most security.

[ Parent | on HN ]