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1341  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 26, 2017, 04:34:27 PM
Quote
If BCH carries on manipulating the difficulty like this the block reward halving will happen next year essentially halving the profitability prematurely while at the same time flooding the network with coins causing hyper inflation and a reduced value

Sounds like FUD?

We shall see  Grin

Antminer L3+ would have been a great investment at the beginning of the year, now I would stay away until someone acid etches that ASIC BM chip and we can design an ASIC to compete with Bitmain.  Takers?

Not really more fact.

At the current rate you are mining 2016 blocksets in 2-3 days instead of 14 days essentially 4-5 times faster with the next halving being 610000 blocks that means you have 146386 blocks left and at we will call it 2.5 mins a block that means the halving will happen in 365965 mins or around 254 days which will be Monday, 7th May 2018 (give or take a month or 2) the miners will earn 6.25 per block.

At current values the BCH chain needs to be running at around 6% of BTC to remain profitable after that date it will need to run at 3% just to remain profitable for the miners unless the value closes on the BTC value if it drops further behind then you are looking at needing to run under 3% possible down to 1% and during this time the BCH market is being flooded with coins that have the possibility to be sold faster than buyers essentially driving down the price.




1342  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 26, 2017, 03:47:10 PM
A guy I know, tried to send $30k worth of BTC yesterday on lightning network. He was ecstatic about his low fees! Only $3, he reveled in the brilliance of segwit, laughing at BCH.

Then come 24 hours later the transaction still had 0 confirmations. Now he realizes he will probably have to wait another 48 hours until it is returned to him to send it on the normal BTC network with a higher fee.

I had one pending  and it's been 12 hours you cannot trust a site that gives you a lower fee options because it will takes a lot of time to confirmed, the only option if you want to see your transactions confirming fast is the high fee

The reason it is taking long is because miners are switching from cash to btc to cash to btc. (since btc cant reduce difficulty, the overall network will slow down) If we get 3 coins in November it will be even worse as miners have more choice to jump.  Cheesy

Lightning is dead in the short and medium term because your money will be stuck for days trying to get on chain and off.  Cheesy Cheesy Cheesy no downwards difficulty readjustment Cheesy Cheesy Cheesy

BTC does have a downward adjustment and is due to drop around 40% essentially averaging normal times with the miners jumping back and forth it just cannot be manipulated like the BCH one which is a strength not a weekness

If BCH carries on manipulating the difficulty like this the block reward halving will happen next year essentially halving the profitability prematurely while at the same time flooding the network with coins causing hyper inflation and a reduced value
1343  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 26, 2017, 12:40:21 AM
Why is this still not $1?

Are people having problems dumping their BiCH still?

Dump this, the faster the better for BTC.



Because no one gives a shit about segwitcoin ,
feel free to dump , once all of the stupid people are done dumping , Bitcoin Cash is going to $8000 per coin to show you how stupid you were.


╥Aztek

Keep smoking that magic stuff it's really working out for you and your gonna need it.

If you keep plowing through the blocks like you are then your gonna reach the reward halving very quick making this even less profitable to mine than it is now

The next difficulty adjustment is looking to be 4x less profitable according to fork.lol and I hope enough miners make sure you mine blocks just fast enough to stop the emergency reduction

No matter how you look at things every outcome of this coin has a bad ending

If Jihan had any faith in this he would let the user's decide but no he cannot do that he is purposely mining empty blocks and gaming the system to make this look better than it is because it's all he has

As the weeks go by you are slowly lowering your guard until it is a easy target for retaliation and your gonna be there bent over while Jihan rapes the lot of you
1344  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 07:03:56 PM
Yet the unconfirmed pool grows, and how long will the hash stay with BTC until the EDA swings it back to BCH favor, this is an interesting chess match and I enjoy reading the theories and comments.

Well so far more stayed this time than last because BCH only gained a small profibility boost the difficulty will rise by 300% again in the next day or so and most if not all will switch back until the EDA kicks in but it will now need to drop further to be profitable so if things keep repeating like this you will get to the point of going through a full difficulty cycle in under 24h while the BTC difficulty slowly drops.

Like I've said before the BCH difficulty will get to the point it's so low any miner will be able to donate a small amount of hashing power to stop the EDA happening and making BCH very highly unprofitable

Right now it's all speculation but that's how I see it being played out
1345  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 06:34:42 PM
Smartest Choice is not to use segwitcoin at all.
Because it can't handle the job.

Segwitcoin 71001 Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions



╥Aztek

this number increases rapidly and is now more than 74,000

presently 95,030 and increasing


Quote from: Chandu141 on Today at 04:46:13 PM
Damn again i see this ...

Warning: Unknown block versions being mined! It's possible unknown rules are in effect

also my transaction stuck from 8 hours  Undecided  do i need to pay more free from now on ?  Cry

https://blockexplorer.com/address/19kG9nu34WRLm5aw138w5m7Hen793LpkbH



We're quickly approaching a point where BTC is effectively unusable and stuck in place. What value does a commodity have if it isn't transferable? I'll give you my BTC in 60hrs or I'll give you my BCH right now.

And the next difficulty adjustment will see BTC drop by probably 30-40% maybe more possibly over 100% it all depends on how BCH games the emergency difficulty bug/loophole and this will bring the normal speed back and forcing BCH further down just to remain profitable plus as people start getting given segwit addresses will allow more transactions per block

Technically BTC has already mined a block greater than 1MB which means it had some segwit transactions in it and this will just get larger as more and more start using segwit addresses
1346  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 03:25:39 PM
The hash chart is soon going to look like a PWM waveform with more ON time than off with ON being BCH having more hash in their pool.

Dont forget the hyperinflation that this is causing
1347  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 02:05:39 PM
http://fork.lol/

Over time the hash will spend more time in BCH which will cause the unconfirmed backlog to rise and rise, which is directly related to fees which will rise and rise.

https://blockchain.info/unconfirmed-transactions
Blocks having been found were able to keep pulling this number down under 30k only hours ago.

Now it is struggling to get under 80k.

And the BTC difficulty will down adjust making it easier so your precious BCH difficulty will need to be lower just to maintain profibility the only one in a downward death spiral is BCH it's being forced down in difficulty and eventually a BTC miner will retaliate at 51% attack the network

First the arguement was that Jihan controls massive mining power and now there will be a miner who comes in with more than him to launch an attack? Which is it?

Either when the difficulty drops too far either Jihan Wu will need enough power to make sure an attack does not happen and make it unprofitable or keep difficulty low and profitable and at risk of attack take your pick
1348  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 01:11:31 PM
http://fork.lol/

Over time the hash will spend more time in BCH which will cause the unconfirmed backlog to rise and rise, which is directly related to fees which will rise and rise.

https://blockchain.info/unconfirmed-transactions
Blocks having been found were able to keep pulling this number down under 30k only hours ago.

Now it is struggling to get under 80k.

And the BTC difficulty will down adjust making it easier so your precious BCH difficulty will need to be lower just to maintain profibility the only one in a downward death spiral is BCH it's being forced down in difficulty and eventually a BTC miner will retaliate at 51% attack the network
1349  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 11:41:16 AM
Smartest Choice is not to use segwitcoin at all.
Because it can't handle the job.

Segwitcoin 71001 Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions



╥Aztek

And 99.9% if not 100% are legacy transactions you cannot compare these to segwit they are the exact same as BCH transactions.

Segwit may be active but it needs wallet devs to now release their segwit enabled wallets and to start issuing segwit addresses for users that wish to use them.

I will still be using a legacy address for cold storage because I'm not touching it so there is no need to have its witness segregated in the blocks.
1350  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 04:26:56 AM
^beanie man is back...lol is that what sprouts from your beans otto

tek..not just me, but the millions and "millions" of bitcoin fans around the world.... are accumulating big time just now... lol
the koreans are teaming up with the chinese they love dem bch  Tongue

So why is the 24h volume down about 70% someones not buying now and bithumb trading is way down to what is was and this was the main price driver

I hope they are some strong magic beans your collecting
1351  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 04:04:46 AM
I've added some websites with stats about fee on both Bitcoin Cash and Bitcoin networks in the OP.


and 1$ free of Bitcoin Cash Smiley

https://www.reddit.com/r/btc/comments/6vule1/bitalien_bitcoin_cash_giveaway_receive_1_of/

Nothing like a good bit of bribery  Wink
1352  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 03:40:29 AM
It's looking like the Koreans have finished pumping this now the 24h volume is dropping quite fast value should follow it

Mr Pump you will have a good time buying all these cheap beans
1353  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 12:56:05 AM
http://veekyforums.com/thread/3186191/business/the-lighting-network-requires-a-subscription-fee.html
yea i do, ive been sayin things like this will happen for past 3weeks...
if is its true , how would you feel?

heres a comment from a reader.
the idea that you pay a monthly bill to blockstream instead of paying per transaction is *really* bad. do you need me to explain why? it's not the "same thing."

another...Requires locking funds into a payment channel, like a bank account
Funds stay locked up until you pay to close the channel, like a bank account
Fees go to channel provider, who is most likely a bank, banking 2.0
Provider can force channels closed, require registration, AML/KYC, fully vulnerable to government confiscation

[–]luke-jrLuke Dashjr - Bitcoin Core Developer 29 points 10 hours ago
In the short term, Lightning should reduce on-chain fees significantly.
Essentially they become subscription fees to use Bitcoin, rather than per-transaction fees.

In case anyone try to enforce anything like that (maybe by spamming the network as usual), this will be the market reaction in a matter of hours:


                   bch                                                 me                                                           btc

Quote

In the short term, Lightning should reduce on-chain fees significantly.

Essentially they become subscription fees to use Bitcoin, rather than per-transaction fees.

What this means is LN is basically free to use but the fee you pay on the blockchain when sending your bitcoin can be classed as a subscription fee

In other words instead of paying for every BTC transaction you just pay it once when you send the BTC to open the channel and this goes to the miners not blockstream

If I was to send you 1BTC now I will pay a fee and this fee is what's being referred to as what can be classed as a subscription   it is just a normal bitcoin transaction fee nothing more nothing less but that's the only fee you will pay no different that paying for every transaction on chain it all goes to the same place

You really do have a bad understanding of segwit and LN you perhaps should not read everything that has been twisted to make it sound bad and spread misinformation

1354  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 25, 2017, 12:35:38 AM
2 blocks found and the resulting unconfirmed transactions are immediately climbing above 70k

https://blockchain.info/unconfirmed-transactions

You won't see a massive drop everyone is still using legacy addresses still but new wallet addresses will start being segwit ones and only then will you see any effect from this

Segwit was more about fixing security issues that allow for greater improvements than scaling the scaling benefit is just a bonus

bro...wait a sec...really...
so lets say in a yr or more...if i want to move  cold storage btc to a new wallet...then it becomes segshit?

No not if you keep using a legacy address 1xxxxxxxxx....xxx to make it segwit it needs to go to a segwit address 3xxxxxx...xxx

If you carry on with a 1x address your transactions will be stored in blocks exactly the same as they are on BCH

My cold storage will always remain in a 1x legacy address and I will use a 3x segwit address for everyday usage
ahh get ya
ive got a bunch mined from 2011, never been touched, never plan to move them (+the bch i got with them)

i still wont ever use segblockcore addresses, giving blockstream a cut..no thanks, rather not use slow lbtc, better off using bch



Where do you get that blockstream gets a cut from a segwit address/transaction all segwit does is kind of rearrange the blocks to make them more efficient I think you have a lot of misconceptions as to what's really happening been reading too much fud from the BCH team
1355  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 24, 2017, 11:55:26 PM
2 blocks found and the resulting unconfirmed transactions are immediately climbing above 70k

https://blockchain.info/unconfirmed-transactions

You won't see a massive drop everyone is still using legacy addresses still but new wallet addresses will start being segwit ones and only then will you see any effect from this

Segwit was more about fixing security issues that allow for greater improvements than scaling the scaling benefit is just a bonus

bro...wait a sec...really...
so lets say in a yr or more...if i want to move  cold storage btc to a new wallet...then it becomes segshit?

No not if you keep using a legacy address 1xxxxxxxxx....xxx to make it segwit it needs to go to a segwit address 3xxxxxx...xxx

If you carry on with a 1x address your transactions will be stored in blocks exactly the same as they are on BCH

My cold storage will always remain in a 1x legacy address and I will use a 3x segwit address for everyday usage
1356  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 24, 2017, 11:31:46 PM
2 blocks found and the resulting unconfirmed transactions are immediately climbing above 70k

https://blockchain.info/unconfirmed-transactions

You won't see a massive drop everyone is still using legacy addresses still but new wallet addresses will start being segwit ones and only then will you see any effect from this

Segwit was more about fixing security issues that allow for greater improvements than scaling the scaling benefit is just a bonus
1357  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 24, 2017, 11:23:54 PM
^ what was that tek...did you say something  Tongue  Smiley

I think your really a secret BTC hoarder and just trying to drive price down to get them cheaper it's okay to admit if you ever feel you have made the wrong choice  Tongue
1358  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 24, 2017, 11:19:20 PM
i prob one of the few that is either mad or genius lol
everytime i see bch pushed into a corner and people think its doomed...i buy more  Cheesy

(hoping for my $4600 sell orders of seg to go through aswell)

You don't have any seg coins unless you moved all your BTC to a segwit wallet you will still have a legacy wallet and coins  Roll Eyes
1359  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 24, 2017, 11:10:44 PM
...
I have no idea why the sudden divergence in profitability. Anyone?
...

Antpool mining empty blocks again Wink

With these often swings between chains is slowly lowering the BTC difficulty which means the BCH chain needs to run at a lower and lower difficulty just to remain profitable.

It will get to the point where the BCH difficulty is so low to remain profitable especially if the BTC value keeps increasing that they will be a easy target for any miner that wants to do malicious things  Roll Eyes

There basically backing themselves into a corner just hoping no one gives them a beating
1360  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Bitcoin Cash - Fork 1:1 of Bitcoin - Pro on-chain scaling - Cheaper fees on: August 24, 2017, 09:05:59 PM
Antpools ratio on main chain seems to have dropped quite a bit but there does not seem to be a huge presence on here from them either wonder if it's related to loosing asicboost or some other thing
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