What is BCHFlippening.com?
Flippening in cryptocurrency lingo is the often speculated event of Bitcoin's market cap and hashrate flipping over towards an altcoin. Once such an event occurs, it would create a scenario where the altcoin would become the coin all other coins are measured against whereas until now Bitcoin has always been the benchmark and a flagbearer for cryptocurrencies across the market.
Earlier in the year, there was widespread speculation of flippening to Ethereum. In light of the recent momentum the currency has gathered, various backers of Bitcoin Cash (BCH) have been entertaining the possibility of a flippening to BCH.
Long-term, the likelihood of such an event happening is negligibly slim. However, if a flippening were to happen, Bitcoin would be forced to change their PoW algorithm and start over from scratch.
After trading at an all-time high of $7,800 immediately in the wake of the announcement that the proposed hard fork was to be cancelled, Bitcoin has endured a rough few days.
Many within the Bitcoin community feel that Bitcoin is under attack from parties who were supportive of the second half of the proposal in the New York agreement to enforce a hard fork to increase the block size to 2 MB. It is speculated that these parties shifted their focus to undermine Bitcoin by throwing their weight behind Bitcoin Cash once SegWit2x fell through.
Is The Bitcoin Flippening Any Danger To The Ecosystem?
Here is a picture to give you an idea of what the BCH Flippening website showcases:
These developments are usually seen as indicative of an attempt by malicious self-serving groups to spread FUD (Fear, Uncertainty and Doubt) within the community. You would be well advised to hold tight to your Bitcoins.
For fun, you can keep checking the status of the BCH vs BTC market share dominance and see how each other are performing at BCHflippening.com which we saw get as high as 60% on November 11, 2017 but is currently in the 35% range just the monday after.
As far as this being a real danger and threat – it largely will depend on the user, as well as those personalities who have major skin in the game (miners, developers, investors) and trying to figure out a scaling solution that is suitable for all..not just short term, but long term. We will have much more coverage in the near future regarding the ongoing battle of the bitcoin name and badge.