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With so many other tokens in the cryptocurrency space, why is there such a buzz surrounding the recent Bitcoin Cash hard fork? A high-energy climate seemed to immediately surround it, but why? David Johnston from Factom believes it has to do with the existence of three distinct communities: “First, there are those that absolutely are ardently opposed to SegWit. For whatever reason, they believe it’s different from the original vision of Bitcoin….and then you’ve got a community that’s very dedicated to avoiding hard forks and taking what they see as risky behavior, and I would say that’s the Bitcoin Core folks. But there’s another community that people don’t talk about, and I believe when Eric Voorhees says this is the silent majority.” Johnston argues that this silent majority favorably views both SegWit and bigger blocks, making them less “emotionally or ideologically consumed with one particular solution being the be-all and end-all.” However, not everyone agrees. Johnston is joined by fellow Factom associates Brian Deery and Paul Snow for a lively and in-depth discussion on this topic and many more.

Deery, Johnston and Snow also discuss:

  • The effect of the split between Ethereum and Ethereum Classic, and what it might indicate about the split between Bitcoin and Bitcoin Cash
  • The prospect of North Korea or Russia mining Bitcoin for hard cash, and the problems that could ensue
  • The distinction and significance of two fundamentally different definitions of Bitcoin
  • Speculation on how Bitcoin’s hash rate will be allocated (if 95% of the hash power doesn’t go with Bitcoin Core, will mining power be lost?)

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