Bitcoin Forum

    We all know that bitcoin in its present form has completely failed, you can wait for hours on end and never get your final confirmation because of stuffed-up greedy miners that feel themselves not so saturated by block rewards and instead of dilating arteries of bitcoin ecosystem by increasing block limit, they avidly congesting them with high fees and unreliability of network as a whole. Many people are defecting to other means of payment and bitcoin is flipped off.

   It's pretty interesting to know what Mike Hearn had to say about this issue even before network has got congested like toilet pipe. He says exactly as follows:
"Think about it. If you had never heard about Bitcoin before, would you care about a payments network that:
Couldn’t move your existing money
Had wildly unpredictable fees that were high and rising fast
Allowed buyers to take back payments they’d made after walking out of shops, by simply pressing a button (if you aren’t aware of this “feature” that’s because Bitcoin was only just changed to allow it)
Is suffering large backlogs and flaky payments
… which is controlled by China
… and in which the companies and people building it were in open civil war?
I’m going to hazard a guess that the answer is no".     I think 'tis very good description of current state of things.

    Why, Mike suggested, block size is not being increased while it should? "Because the block chain is controlled by Chinese miners, just two of whom control more than 50% of the hash power. At a recent conference over 95% of hashing power was controlled by a handful of guys sitting on a single stage(https://pbs.twimg.com/media/CVhkEhtUAAAl0LH.jpg). The miners are not allowing the block chain to grow."  https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7 (https://blog.plan99.net/the-resolution-of-the-bitcoin-experiment-dabb30201f7).

    He explains that thanks to Chinese Great Firewall, miners in China cannot process transactions with high-limited blocks fast enough, so their decided to drop users in game of endless fee raises instead of normally scaling system.

    But some people are seeming to be tired of this endless bullshit and taking actions. Bitmain (which has something about 20% of all hashpower in bitcoin system) is promoting its new protocol called Bitcoin ABC in form of its implementation named Bitcoin Cash. It will raise artificially put limit of 1Mb size blocks to initially 8Mb and after that even farther and will return Bitcoin its place under the sun (by now we have figures that claim smth about 50% drop in use of bitcoin globally). You all know that Gavin Andresen acknowledged in Craig Wright the real Satoshi Nakamoto and he did it outright. Craig Wright, in his turn, said without any subterfuges that "We want to remove the block cap. We want to have non Segwit pool... And we going to create pool that will not run Segwit [audible burst of clapping here] and if we see Segwit transactions we'll reject them". https://youtu.be/v1_gxvx_QGo?t=39m25s (https://youtu.be/v1_gxvx_QGo?t=39m25s)

     Also he speaks about special requirements for people who want to run new Bitcoin ABC node, mentioning that Raspberry Pi is not most appropriate piece of equipment to run a node and u eventually will need to buy some macchine that might cost u 20k$ and says that "if u will not do this, if u will not help this network and if u will not take this thing this thing that has given to YOU the financial sovereignty, YOU financial freedom, YOU financial independence and help other people by spending a little bit of money on a decent network: FUCK OFF!!!". https://youtu.be/v1_gxvx_QGo?t=13m30s (https://youtu.be/v1_gxvx_QGo?t=13m30s)  By saying these he alludes on allegations of some people that if we'll increase block size, some people will be not able to process them.

    Gavin Andresen, Jihan Wu(head of Bitmain and Antpool), Mike Hearn and Craig Wright, supposed to be Satoshi, are all for much higher than 2mb block increase, why are we not??

It's sheer speculation to blow up prices of currency which is not used to actually buy things.

In some ways box is helpful but it was from the original team i guess we just have to wait if segwit will become successful because that is where to next era of btc will depend on. I can see that some are agreeable on the segwit but many have split decisions on the hardfork. How much more if segwit2x can not be fully functional.

here is what you should do if you are not happy with bitcoin: https://www.google.com/search?q=how+to+create+my+own+altcoin

People who are creating Bitcoin Cash are big miners: namely, Bitmain and Craig Wright and they're fully supported by Gavin Andresen and Mike Hearn and Roger Ver. They have right to choose destiny for Bitcoin, cause Segwit2x is ain't gonna do shit about current situation.
Kraken is also supporting BCC (which it calls BCH - Bitcoin CasH)
http://blog.kraken.com/post/1150/bitcoin-cash-and-a-critical-alert-for-bitcoin-margin-traders/

yeah Bitcoin destiny ? i don't believe it,they can not handle the thing very well and you said they have right to choose destiny for Bitcoin ?
after some of them shilling about Bitcoin back then in 2016ish?
and supporting another shit Bitcoin type such as Bitcoin Unlimited ?
because they're a 'big miners' doesn't mean they have the right to choose 'the destiny',
i hate that kind of hypocrite,everybody hate that kind of human dude.

Bitcoin Core,Bitcoin Unlimited,Bitcoin Cash,Bitcoin Abcd until Bitcoin Z.

I stopped reading after this sentence . "We all know that bitcoin in its present form has completely failed, you can wait for hours on end and never get your final confirmation "

We all know that the delay was because even 1- you are very cheap and want to pay almost no fee to move your money 2- the big spam attack that was happening .

Now the real question is how far Jihan Wu and others can tank the dump of the new alt coin  ;)  . Most people treat this new alt as an free airdrop nothing more.

I don't get what is wrong with the current compromise, SegWit AND higher block size.

Other solutions like LN can help alleviate some of the burden on the blockchain as well and we can look towards further block size increases as necessary rather than jumping the gun now on something that is untested.

Your first words in your first line you go wrong immediately. Please speak for yourself, not for me. And stop talking about complete bullshit like 'waiting a day for confirmation".

Bitcoin ABC/BCC/Whatever will never take over. The only reason miners mine, is because of the value of BTC. Who decides over the value? The community, not developers, not miners. Why does the community believe in BTC? Because it's development team consists about a lot highly intelligent people that develop the coin together with the community and stay away as long as possible from hardforking. The value of BTC comes from it's outstanding development team, and the fact that your bitcoins will be still bitcoins tomorrow, next week, next year and so on. Bitcoin will only become more efficient, but will never change. This all, is completely the opposite of what Bitcoin Cash stands for. (a rushed fork developed by 1 lone wolf and backed by a few people)


Yes, geographically it is more centralized, and with bigger blocks it gets even more centralized then it already is. But the fact is that the community doesn't really care about this, as they know miners won't shoot themselves in their foot by blowing up BTC (and thus their own money). You are against centralization, but yet you support ABC with its bigger (unnecessary) blocks? Bigger blocks mean the end of a lot of miners and more monopoly for Bitmain.

I bet, with BTC getting more and more part of society, sooner or later government will step in and mining no longer will be something for just companies like Bitmain.

Bitcoin Cash has NOTHING helping the community with a better and efficient coin, it has EVERYTHING to do with repulsive GREED that a few of us in the community have (Hello Roger and Jihan).

This new 'altcoin' will drop fast, and another attempt to hijack BTC will fail. The more they fail, the stronger BTC gets out of it.

Bitcoin Cash is going to be a huge flop, very few exchanges are showing support for it. Expect it to die a slow, painful death.

https://bitcointalk.org/index.php?topic=2051267.0

They're not handling bitcoin Core right now, that's why people leaving Bitcoin as means of payment.


Delay is because Bitcoin in current state can handle smth about 3 txps and Visa as well as Mastercard can handle 56 THOUSAND txps [hink about it

Right, so let's summarise this post of yours:
Why is the block size not being increased?  Because there are Chinese people with monopolies over mining.
How to increase the block size?  Get the support of the Chinese mining monopoly BITMAIN.

Now I find this whole thing of discussing "the Chinese" (as if they're one entity) very annoying, so I usually steer clear of agreeing with people's arguments and conspiracy theories that Chinese miners are attacking Bitcoin and trying to take it over or something.  Still, the hypocrisy in this thread is astoundingly obvious.

Oh, yeah? And maybe RPF option is driven by charity and generosity, not by fucken greed?? Small blocks = high fees. And i'm not 100% sure, but high fees sounds like pure avidity to me.


No, no u've got me wrong. I just explained his position not mine. I think that block size increase is good and if Bitmain or whoever else gonna implement this that's sounds equally good for me. I'm not pro or contra chinese control over Bitcoin, I just want Bitcoin be globally scalable and with low fees transactions = to be succesful.

and who created bitcoin's scaling 'crisis'?

the people who are creating bitcoin cash most likely.

and they're gonna continue spamming the segwit chain in an attempt to drive people to bitcoin cash.

i have zero interest in giving control to people like that.

UCPunk u got it all wrong. When some of this people were at the helm of Bitcoin there weren't such a grievous scalability issues. And now when these issues tearing most active part of Bitcoin users apart by unreliability of network, we need Bitcoin to go in right direction, namely to allow for all of the people of the world use Biitcoin for whatever their purpose is. Buying, selling, remittances u name it. It requires more capacity, higher block size cap, with segwit and 2Mb block size we're lost and Bitcoin will eventually lose all of its market cap.

You are plain stupid or act plain stupid, I'm sorry for being rude.

BTC was not made so people can make money, but to free people from Central Banks that control the value of (FIAT) money, and thus them control your wealth with a few buttons. BTC was made so we have total freedom and total ownership of our money, safe and secure. It is NOT made and never has been made for people to make money out of it. That does not mean that you CAN make money out of it (hodling / trading / whatsoever)

And small blocks = high fees is total bullshit comparison. I can fill up one 8MB block with two transactions, apply your theory and thus big blocks = monstrous fees. Complete horseshit. BTC mempool looks perfectly fine and adding Segwit makes the network a lot more efficient. More efficiency = lower fees.

It will only be painful for people like this topicstarter, not for us :)

Segwit makes the network a lot more efficient and opens doors for LN. There is simply not a single reason why we need bigger blocks at the moment. The only reason Segwit now will be activated is because the minepools want 'something in return' --> Bigger blocks.

Bigger blocks means a blow to all hobby miners, or semi-pro miners in countries that do have some hashpower, but don't have a lot of bandwidth available. Thus, more mining monopoly for the Bitmain etc.

The value of BTC comes from the fact that BTC will still be BTC in 10 years. If a widely accepted product can change in a few months, just because a 'few' people want it, it becomes completely valueless as I do not have the slightest clue what is going to happen with it in the near and far future.

First of all: u're stupid. People are abandoning bitcoin because of stuffed-up mempool, which is too small to handle even small transactions. Instead of growing large Core decided to let small- and bigtime miners make money from fees, while time of confirmation may go up to several hours. This has driven many people away from Bitcoin, and Segwit won't do shit about it - it's a half-measure. Only high block size, like for example 8Mb (8 in chinese means wealth or fortune or smth like that) will bring peace and grow to Bitcoin.

If block size will not be increased, then there's no interest in holding Bitcoins, so all this point about free from government money is worth nothing

Good read. I know most people and maybe even all of my friends are against this BCC and are considering this as FUD or act of greed. But on my own assessment if Bitcoin will remain like this with no heavy upgrades, is it ready to cater hundreds of million people or even billion in the near future? So I can't blame this Bitcoin Cash thing and I am just excited and interested how they performs.

Your story is so full of bullshit that I'm gonna quit responding to you. You are either paid to talk bs or a complete troll.

After 1 August you can move all your BTC to ABC. I'll see you back in this thread a few weeks later i hope.

Good luck.

Segwit is already years old my friend, same as Lightning Network. They are very well developed and tested upgrades, but Bitmain hates it because it will cut their fees and they can't use their covert ASICBOOST anymore.

So yes, for years BTC already tries to upgrade their network, but greedy clowns who want more control and monopoly over the network block the upgrades. The community got sick of it and called UASF to push Segwit, and now all of a sudden Bitmain moves and rushes BIP91 and 2X in. Without UASF nothing would have happend.

Is Lightning Network something Satoshi envisioned, my dear friend? Is Segwit impeccable system which will lead Bitcoin's flock to 2Mb block and to the moon? Many smart people articulated it quite clear: without tangible size block increase Bitcoin will go down. It's not anymore about centralization or greediness of miners and whatever: it's all about whether Bitcoin will wither away and die or will it take over the world. Segwit won't do shit 2Mb block either, only high capacity blocks will eventuate in something good.

Whether Bitcoin Cash succeeds or fails it will certainly be very interesting to witness how the whole thing unfolds.

https://i.imgur.com/IKpCwFf.jpg
withering, my arse.
fork off, Craig, nobody cares

There are a shit load of altcoins, none has 'take over' bitcoin yet, this new altcoin, Bitcoin Cash, most likely will not take over like all the other 800 coins.

There's nothing new in this fork, but there's a lot less, it doesn't have the hundreds of experienced developers...

So funny the TS mentions the "centralization problem" that Chinese miners own the failed BTC and he favours BCC.

Here's the Hash distribution in one pic:
https://i.imgur.com/hfJJxUS.png

day dream all you want, and spam all over this forum and then go on reddit and spam there too. in fact spam until your fingers bleed :D

your fork is an altcoin and will die like all the rest of the shitcoins. we will pump and dump it and enjoy you idiots who give us your money  when we are dumping on you and when it gets overused we will toss it aside and move on to new altcoins to pump and dump.

lol you really believe that a coin like bitcoin cash with a free airdrop will succeed? everyone will just dump his amount for bitcoin, because it's stupid to hold  a shitcoin that is a clone of bitcoin, made by some wannabe mienrs that are against core

i just wondering why use a newbie account to make this post, is there any shameful secret that fear to be known, bcc is just scam that make no sense

I'll collect some BCC but I highly doubt it makes a huge impact.

Some people might be thinking that bitcoin is not supposed to be a save haven only for gamblers, drugdealers and idots striving for getrichnowponzischemepiramydes. Someone might be considering that destination of Bitcoin is to be new world currency which high intrinsic value is not blown-up by MLM but by worldwide acceptance as means of payment and limited-supply goods. That goal can be achieved only and i cannot overemphasize it ONLY if we can agree on system that can process transactions quickly and convenient. That can be procured only by significant increase in block size, not layering some bullshit protocols like Segwit.

This thread made me a little dizzy. I was more confused as to what the real score is. Scalability and confirmation time is indeed an issue with BTC. But I think the general mood is still with BTC. But let us just wait. It will be several days from now and we will know which one will end up trusted by the majority of bitcoin users. 

Can't wait to see BCC crash hard next week

Right now BCC trades to renminbi in equivalent to ~400$. https://www.viabtc.com/quot/realtime?currency=cny&dest=btc&chart=simple

https://coinmarketcap.com/currencies/bitcoin-cash/

U wait and we're waiting. Take in mind that technically BCC doesn't even exist now!! it's merely its futures are traded on Viabtc.

I understand that you are getting paid to post but at least spend some effort . How the hell it is have a price if it is not even exist!!! do you think about BS you are posting before you do ! . the prices on ViaBTC is just worth nothing .  I do not even think that people behind BCC have balls to tank it for real. They are just hoping that random idiot enough people fall for this and tank it for them .  We will see as you said .

Great sentence, i'm proud of u, boy! khufuking 2017, everyone.

BCC is real project and after few days it will be implemented, after that futures will transmute into real "tangible" digital goods. I hope so, at least.

And i am not paid by anyone, just worried about state of things, that's all. I'm a worrier, u see.

I am curious to see how far the dump will go to the bottom. I am sure at some point it will get pumped but all depends on the BCC marketing squad to see where it mind end up. It might get some hardcore supporters but I can't see it 'taking over' Bitcoin. I will get around 0.1 worth from NOVA EXCHANGE so I will just keep it as a souvenir. If it drops to maybe one USD I might buy 100 of them and you never know after a year or two I might see it go up x 10.  ;D It might do an ETH classic and go to around 5-10% of the value of Bitcoin if it gains some traction.

Go fork yourselves, BCC infidels - burn in hell! Your congested like toilet with bloody tampons Bitcoin has no chance of survival. BCC is the future.

I want to see bitcoin fast cheap and stable, but not in the hands of a couple people

Boy! okay why you not man up and post with your main account !

I do hope BCC get up in value so I can make more money when I am selling . But ti go so far to claim it even have 1% chance vs Bitcoin ! that is just simply dump :) .

Now you make me laugh and to be honest I wasted to much time with you . This is  my last post  ;)

Oh no, whofuken is leaving us, just like thousands of normal people leaving bitcoin because of avid fees politics and lack of scalability. OHhhh nooo.

I do not think we are going to get a hard fork to 2MB blocks that is why they are making this last ditch attempt to try to fork the network to 8MB blocks without segwit activated they know this is their last chance and in my opinion this is going to fail.

Time will tell. Segwit+2x has its advantage also. At least right now both BIPs resolves tje short time issue. In the long run, who will win still depend on what the development and support next.

Sure, that is why bircoin will be the steady holder of your wealth and for fast transactions you should use litecoin.

What is worth of bitcoin right now in eyes of regular people? Zilch, while right now it's only a toy in hands of gamblers druglords and money launderers. 100k$ it will be worth when your grandmother will be able to buy umbrella or a gum in drugstore nearby.

oh boy better call FBI because i know a couple of these criminals.
Valve is accepting bitcoin in their platform Steam = very druglord
Microsoft has an additional option for their users to top up their accounts using bitcoin = very criminal company
Dell also accepts bitcoin as payment = that is the head of drug cartel ;D
last report from Japan was about 600,000 merchants all over their country accepting bitcoin since it is tax free to buy with bitcoin. = i know they are all selling drugs and guns and stuff.
Australia also removed taxes = much drugs so lord...
there have been over 1,000,000 merchants from small to big in US and Europe accepting bitcoin = that is obviously the heart of drug junkies.

so far you have been 100% correct /s

Yeah, right. I'm sure Btc-e.com  also was closed because of its possible connections with japan vendors, that's proved info,

But, ptssss about this. I hope FinSEC will not snoop around your post, cause because of your scoop Alexander Vinnik may be decimated. Microsoft, Steam, brrrrrrrr. It's a couple of life sentences at least.

I don't know if Bitcoin Cash is gonna take over.
Bitcoin seems slowly understand that things have to be changed. It will be slow, but it will happen.

Do not hesitate my friend! Just believe to Jihan Wu and his apostles: Craig Wright, Gavin Andresen, Mike Hearn, and others unnamed. These are serious people, I wanna think they will not let Bitcoin Cash to go south and eventually it will become TheRealBitcoin.

Thanks God we have alts,i really cant hear all that storys about new bitcoins BU,BCC etc it is all greedy and stupidity hard to live in that kind of enviroment.It is endless talks and pseudo improvement Mike Hearn is big banks boy enough for me to stay away from BCC

someone's been reading their steemit

Yeah, I know, Mike Hearn is with R3. But hey, from what kind of sources people get money for all these incredible mining farms in CHina and Iceland and US? Is it mom and pop business? They just pushed their hand under their mattresses and pulled out a little bit of unrelated to any banks money in order to operate tens of thousands top-notch pieces of hardware?  When Mt. Gocks scammed all their investors under pretext of their bank acc in America being seized and Karpeles was nos so sad about it hanging out with cocaine and hookers, should we blame Mike Hearn as well? I'm not questioning scale of decentralisation and democracy in bitcoin btw, just a little bit curious.

BCC is literal trash. Who the hell would want this as the new gold standard?

I prefer to think of it this way: you're trashy skank, and BCC shall prevail u'll see.

BTC value from the fact that BTC will be BTC for 10-20 years. If a product is allowed to change for a few months, only someone who wants it, it will be worth it because I'm not sure you will see it near near future and far away, but its current value is still Constantly increasing.

Well i'm gonna hold on to my bcc, if it reaches hights like bitcoin then why shouldn't people start using it. Emotions are never in place in a market like this.

Let's see the drama. WHo will ruin. Most capitalist support BCH and bitcoin support by grassroot. Let'see the war nodes. It is the biggest history in bitcoin world. How is the price BCH with BTC after 9 Aug when Segwit is activated. I still hold BTC and I think I will earn more profit after Segwit.