This whole issue once again shows that there is nothing more than a bunch of douchebags staying behind bitcoin cash. This behaviour can be easily classify as a pure scam. All altcoins, ICOs and Bitcoin forks are created with the sole purpose of earning the creator money. That's never been a secret, but people seem to keep falling for it over and over again. First shitcoins, then ICOs, now forks, and I can't even imagine what the next step will be after easy-money-from-forks runs out. Shouldn't BTC be taking some emergency measure and decrease mining difficulty significantly temporarily for a start?
That would mean a hard fork. Considering it takes them years already to simply increase capacity, this won't happen overnight. Not sure anyone can really do anything about people maliciously spamming the network can they? Genuinely asking.
A very simple solution would be larger blocks: if someone is willing to pay millions of dollars to spam the network: let them, and profit from it! Currently all Bitcoin users pay much more in fees, all users have to wait much longer, and the only winners are miners. If you check Bittrex earlier, it is very evident that the rise of BCH was merely staged and coordinated. Nothing was natural, all of it were just made for the money and not to actually support BCH. Charts would tell you that.
I think I shortly saw a 6000 Bitcoin sell wall, that's $36 million worth of Bitcoin Cash! Pump and dump is designed to make very rich whales much richer again, as the little guys start panic selling and panic buying. Glad to see I've not gone nuts, I think if you're Bittrex and very rich and powerful people say "I want your help pumping BCH" you make it happen, that's just my gut feeling. There's no way to prove it so I'm not gonna say for sure they're in on it, it's just highly suspicious to me that now is the only time I have this problem where I can't dump a coin for BTC.
I didn't use Bittrex today, so I didn't encounter a glitch, but Bittrex earns 0.25% of trades. At $1 billion trade volume, that's $2.5 million, and probably another $2.5 million for the other party involved in the same trades. One way or another, exchanges love pump and dump actions! |
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Although I agree that miners have too much power, I don't think POS will solve the fundamental problems. I think all the forks will disappear the moment the real Bitcoin allows scaling. This will end all forks and suck many altcoins dry. What I want, as a regular Bitcoin user, is two things: 1. cheap and fast transactions 2. see the value of my coins increase I have #2 in common with rich miners and whales, but for #1 the have the exact opposite interests. I'm also surprised https://bitcoin.org/en/bitcoin-core/ (or https://bitcoincore.org) doesn't mention anything about how Bitcoin Core things these problems can be solved in the near future. Sure, they warn about forks and incompatibilities, but that's the result of the problems, not the cause. Lightning Must Strike Soon, Bitcoin Facing Backlogs as Scalability Solution AwaitedMiners moving to BCH does not increase BCH's price. It does nothing except increase the speed of blocks being generated (until the next difficulty adjustment). So them dumping BTC and moving to BCH just to profit does not make sense.
And yet, the increase in block speed on Bitcoin Cash coincides with the pump. I've wondered about this before: why on earth would someone start paying more to buy Bitcoin Cash the moment miners are creating more of these coins? |
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This is funny math. Maybe it is similar to the algorithms being used in China.
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How about being smart about it, and running these #'s again with earnings expected per, say, 1*TH of hashing power.
You're right, I slightly messed up there. Instead of just the number of blocks per hour, I should of course also relate it to the total difficulty. Instead of doing that by myself, I'll quote Coin Dance | Bitcoin Cash Block Details: The Bitcoin Cash blockchain is currently operating at 10% of the original chain's difficulty.
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It is currently 51.6% more profitable to mine on the Bitcoin Cash blockchain. |
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You can use http://confirmtx.com/ to confirm it, it costs you $4.00 on top of the $11.29 fee you paid already. It could actually be cheaper to use a low fee, then pay $4.00 to accelerate it. Just to be sure: pay the $4.00 with a fast altcoin. |
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Today i found text file ony my external hdd and there is seed. But the thing is it has 20 words. Normal seed should have only 12 words I think...
Different seed phrases can have different lengths. What you need to do, is recover your wallet with the same service you used to create it. Once you've done that, you'll have to wait for fees to drop 90% or more. Your address is filled with dust, at current fees you can't send anything. |
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Not just Bitcoin Cash. Try sending Waves .. it takes seconds. Send IOTA, it takes a minute and costs nothing. These are only a few examples. There are some coins out there where transaction times and fees are at minimum. Yes, scaling is always a problem: However, technologies like IOTA and XRB need MANY transactions to scale, and they get even bigger and better with every transaction more (I am really looking forward when industry players like Siemens, Fujitsu etc. adopt IOTA and allow it to scale)
I'm not very familiar with the way Waves and IOTA work, but as far as I understand they don't use a blockchain, right? I was already impressed with Byteball: much faster than Bitcoin, and 1/10,000th of the fee. Then I got to play with Stellar Lumens: even faster, it took seconds only, and 1/100,000,000th of the fee Bitcoin would charge! Basically almost all altcoins work better than Bitcoin, the classics Litecoin and Dogecoin use a blockchain, and are much faster. But the 10 minutes per block is something I can live with for Bitcoin, it's not a problem for normal transactions to wait a bit, and without congestion many services can accept transactions with zero-confirmations already. The real problem is the capacity, which is something altcoins are barely limited on, because they have much less transactions to begin with. Bitcoin currently has only 20 million addresses with a balance. Imagine the possibilties if it can handle 100 times more transactions at low fee: it can reach many more users. Now it's simply impossible for new users to join, as every new user who makes a transaction has to push someone else's transaction away. I still don't understand Bitcoin Core's reasoning to stick to small blocks, while Bitcoin is being canabalized by alts and forks. |
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Some people trying to spam transactions on blockchain, over 157,000 unconfirmed transactions and total fees over BTC1400. If someone spends $10 million on fees, can you really call that spam? Obviously they earn more from pumping and dumping Bitcoin Cash, but in the end, Bitcoin should just be able to process it. They just want to tell people; segwit isn't enough, we need 2x hardfork, we need bigger blocksize to afford so many transactions per second.
"They"? That sounds like you disagree, if so, what makes you think a small blocksize works? I literally can't make a transaction now, unless I pay a rediculous fee. Bitcoin has been pushed to or over it's limits for a very long time now, the 2x hardfork would have given some temporary breathing space, until long-term scaling solutions are available. |
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This was a typical pump and dump. Poor souls paid 0.53 BTC for 1 BCH, just to see a dump to 0.25 again. Fresh money has to come from somewhere ...
Yesterday I sold some Bitcoin Cash at 0.24 Bitcoin, today at 0.5 Bitcoin. When I made that sale at Kraken, it was already trading at 0.3 Bitcoin at Bittrex. It would have been a great opportunity to earn a lot of money, if you have enough cash on both exchanges. But, with Bitcoin down to like 2 blocks per hour, and fees up to more than 9 Bitcoin per block, it's impossible to quickly move Bitcoins around. https://blockchain.info/unconfirmed-transactions currently shows 32 Transactions per second, about 4 times more than Bitcoin can handle. I don't understand how some people can still say Bitcoin doesn't need scaling. All this madness could have been prevented if Bitcoin would have scaled earlier, which makes me thing many people profit keeping blocksize down. I hate to say it, but when I made a Bitcoin Cash transaction yesterday, it went much smoother than Bitcoin transactions. The recommended fee was very low, I even increased it to 0.00005 Bitcoin Cash, and I got the required 20 confirmations in just over an hour. As much as I dislike Bitcoin Cash, this is what Bitcoin needs to be useful. |
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if one is concerned with making the most profit, you would stay on BTC for now, while there is 3-4 BTC fees per block. 4.64462859 BTC in the last one. perhaps the algorithms they are using in China don't account for this
Say 17 Bitcoin per block: miners earn $109k Say 12.5 Bitcoin Cash (fees are almost zero) per block: miners earn $16k 1. Result: Bitcoin blocks earn 6.8 times more than Bitcoin Cash blocks. Bitcoin had 10 blocks in the past 3 hours. Bitcoin Cash had 99 blocks in the past 3 hours. 2. Result: Bitcoin Cash has 9.9 times more blocks than Bitcoin.
This means Bitcoin Cash is currently more profitable for miners, even including the fees.(bad conclusion, see below) |
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The current price of Bitcoin are falling down by the rumor about SegWit2x and Bitcoin Cash can become the next Bitcoin in future. If that is true, it's like a trick to take your Bitcoins from you. Imagine this: Before Bitcoin Cash, you had 1 Bitcoin. After the fork, you had 1 Bitcoin and 1 Bitcoin Cash. Now imagine you sold the 1 Bitcoin Cash for 0.1 Bitcoin, you now have 1.1 Bitcoin! Fast forward to the future, where Bitcoin Cash is the most popular one that is called Bitcoin, and the current Bitcoin is called Bitcoin Smallblock. Say your 1.1 Bitcoin Smallblock is only worth 0.2 of the new Bitcoins, but you want in, and convert them. In this scenario, the fork-scum made you turn your 1 Bitcoin into 0.2 Bitcoin, without you ever wanted to sell them! This scenario not necessarily going to happen, but keep in mind that Altcoins, ICOs and Forks are designed for only one goal: convince you to give your real money to whoever created the alt! |
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Bitcoin normally adjusts the difficulty every 2 weeks. If half the miners leave, those 2 weeks turn into 4 weeks. If 90% of the miners leave, it will be 20 weeks. Bitcoin Cash now has about 30 blocks per hour, instead of the 6 it should mine. It's the ping-ponig result of the emergency difficulty adjustment it has. https://electroncash.org/ says there will be a hard fork on Bitcoin Cash on November 13th, and I assume that will end the emergency difficulty adjustment. I understand why miners LOVE to get 30 blocks per hour, it's easy money. What I don't understand, is why people start buying their Bitcoin Cash for a higher price when they mine more. It must be a pump, and that will most likely end in a Bitcoin Cash crash again. Meanwhile, Bitcoin fees are higher than ever, $10 isn't enough anymore for the smallest transaction. I'm more and more starting to think the small blocks are actually meant to create FUD, forks and pump&dump actions! Some people must be earning a lot of money from this. If Bitcoin Core would have increased blocksize long before fees spiked, and long before miners earned millions of dollars per day from fees, all this would never have happened. I now can't even use Bitcoin for online food orders anymore, as the fee would double the price. |
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@deisik: Yes, PastEraser should be banned. It's the worst type of shitposter, editing a copy just enough to make it very hard to find the original post. I'm impressed you found this copy from a post 1.5 years back! @Mod: This report from exactly a month ago seems to be overlooked: Newbie satish37 made a new thread with copied content. It's not in the Press section, doesn't have a reference, and doesn't have any discussion value. (see original post for proof) |
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RECENTLY, I was involved in a transaction. The person involved brought to my attention that they rated my trust & had someone else do it as well. It's not showing up. Maybe the moderator deleted it. Why would this happen?
The people who left you trust aren't in Default Trust. To see their feedback, go to https://bitcointalk.org/index.php?action=trust;u=1285929, click Untrusted feedback > Show ratings.Do I have to believe you sold Twitter accounts for 0.5 BTC and bought a Twitter account for 0.2 BTC? |
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or attack helicopters? I'd love to finally be able to identify as my true self!  On a side note, does anyone actually believe gender is a social construct?
(Relatively) Quite a lot of people nowadays do. I think it's only very few people, but they're terribly loud about it and receive way more attention than they should. Unfortunately, I think that you misunderstand the system. Given the trillions of different gender identities, we have adopted a coding system in which each gender identity is assigned a 64-bit number. For example, and only for illustration (I do not wish to presume your wingspan), Apache-attack-helicopter-gendered people would need to input the easy-to-remember code 0x9b68d151aeefa34f. In order to maintain compatibility with legacy systems, however, this is done by submitting the form multiple times with different genders. For example, in this case you would input Male Female Female Male Male Female Male Male Female Male Male Female Male Female Female Female Male Male Female Male Female Female Female Male Female Male Female Male Female Female Female Male Male Female Male Female Male Male Male Female Male Male Male Female Male Male Male Male Male Female Male Female Female Female Male Male Female Male Female Female Male Male Male Male. Simple! Now, it may seem discriminatory to assign Male 1 and Female 0, but not to worry! The coding is designed so that you can also input the inverse and get the same result. And to avoid left-handed bias, you can also enter it in opposite order. In fact, you can just put in whatever sequence of entries you want and the result will be the same. What if I accidentally exchange a male for a female while doing this? I might end up a identifying as a refrigerator, that's cold man! On a serious note, something that fits in Meta but isn't worth it's own thread: I noticed yesterday that my post count is shown under my nickname: It's only for my own posts, as I didn't enable this in Options. Is there a reason for this change, maybe to make it more obvious when you lose posts due to threads getting trashed? |
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Thanks for the tip...  ! What is an ICO?  An ICO is an Initial Coin Offering, solely created to make the creator rich. It means someone create a Token, usually on Ethereum, with the click of a mouse. Then, he makes up a random story with lots of promises of high returns and how his idea will change the world (just like many others do each day), if only he and his 2 friends would get 50 million dollars to implement it. An other way to describe ICOs are "unregistered securities", already banned in China and very high up on the radar of the SEC (U.S. Securities and Exchange Commission). ICOs are a great way to turn your 100 euro into less than a Big Mac again. |
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For me it is funny that every time when we have some correction, uncertainty backed by price dip there are voices like this:
"Is this the beginning of the end for bitcoin? Should I switch to Bitcoin cash? Should I get my money out?" These "crashes" are designed to make people panic, and it works flawlessly. $6500 now, the same as it was just 9 days ago, when it was called an ATH. |
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Some "Bitcoin Classic" developers? I have no idea what that story is about, but you may be mistaking them for Bitcoin Core developers. |
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