Jimbo is well known for buying the bottoms.
How to know when the bottom is reached? I have been following the trends and sunday always seems the most deep it can go, and it always tries to recover in monday. That trend is usually caused because people's wire transfers don't start coming in until Monday. It's not a foolproof trend though. |
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While the idea of a hardfork in spite of BIP91 can be materialized into real software, to the tune of "because I can", well, why not. But the name "Bitcoin Cash" seems unfortunate. It will only confuse newcomers as BTC and BCC will obviously become two completely different currencies, i.e. not interoperable. Let's see how it's goes, though  I thought that their ultimate goal is to claim that their chain is the rightful chain. To make this claim, I think they would probably want to stick to a name that is not very distinctive at all. |
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didnt go through everything sorry, but how do i claim my BCC? sign a message?
You won't need to claim it, you will just need to download the BCC wallet client with your current bitcoin private key. If you have funds, depending on what exchange its on they will automatically credit it to you. are these wallets trusted? and i guess it will show both the real btc and bcc right? The wallets for BCC will only show your BCC. I'm probably going to ignore BCC unless there is an easy way to use my Trezor. I'm hoping their Electrum product will interact with my Trezor, just like my Electrum wallet does now. I hope that I don't have to go through a bunch of confusing steps to ensure that I'm not replaying the transactions. Since I only own 1.8 BTC, I'll see how the market is doing on August 1st to see if it is worth my time. I am assuming that I have the option to claim my BCC at a later date, if by some miracle, this coin succeeds in its coup of Bitcoin. BTW, I can't just import my Trezor private keys into a wallet.(At least I cannot figure out a way to get it to reveal the private keys to me. That's probably a good thing.) I'm also not going to give my 20 word seed to the BCC Electrum product either. |
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i'm not liking that there is no option on the poll that says: bitcoin will rise all week up untill Aug 1st at which point it will rocket up +500$ as the BCC market crashes down down down to the lowest low ( SUB 100, maybe even <50  ) and appears to die on arrival. cuz ya... thats watsup. Just as long as I get my BCC to market first. Would hate to get stuck bag holding dust, even if it's free. Edit: Doesn't look like I'll be the first though since I refuse to lock in my BTC at VIABTC, so I can trade in IOU virtual tokens. |
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Probably. Not sure if they are going to change the target time. Also, forget about lightning network here. The goal is to come up with an on-chain solution to scaling.
So it basically create more problems than it solves. In fact I don't see what does it solve. Well, thanks for the free money though. You never know. Sometimes the long shot wins the race. You know, like the tortoise and the hare fable. And since the coins will basically be free, the odds are already in your favor.  |
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Any idea about the roadmap of Bitcoin Cash? When do they plan to upgrade to Segwit?
Never. ASICBOOST optimization doesn't work with that. But.... but... Will I have to wait 10 minutes for first confirmation when I buy my coffee with my Bitcoin Cash?!?!?! Probably. Not sure if they are going to change the target time. Also, forget about lightning network here. The goal is to come up with an on-chain solution to scaling. |
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Any idea about the roadmap of Bitcoin Cash? When do they plan to upgrade to Segwit?
Never. ASICBOOST optimization doesn't work with that. |
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Speculation on electricity costs vs. value:
Lets say mining costs (electricity costs) significantly decreased in the next decade or even became free. Would this pull the value out of bitcoin's POW? Or perhaps more nodes could run and value would be placed more on the security of the network.
Surely decreased energy costs would be a global change and difficult to predict.
Even if electricity is free, the equipment needed to mine costs money. Plus the time spent setting up and monitoring your equipment is worth something. |
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I'm not sure why changing the POW algo to an Asic resistant GPU friendly algo would really stop a centralization trend. GPUs use electricity, correct? Part of the problem with the "Chinese mining cartel" is that they can get cheaper electricity. Correct? What's to prevent them from just establishing huge GPU mining farms and shutting out the little guys again? Not to mention that the bigger guys will be able to get a deal on the GPUS since they would be able to buy in huge bulk.
I gather you've been (are still?) a miner, so your opinion has weight for me. Please help me understand. The cheap (subsidized) electricity argument... yeah, that is probably a show-stopper  However, wouldn't an assortment of algos make life harder to monopolists/producer firms by forcing some kind of specialization? Besides, they might have GPU farms (I believe they do), but in that case they would still be competing with homespun rigs set up by people who fire their computers anyway, mining or no mining. At the moment, given the monopolist market, few independent actors have modern mining equipments able to compete. Do you think the number and power of "independent" GPU's is too small to be significant? Yes, people use their computers anyway. However, running a GPU 24/7 at maximum capacity uses a lot more electricity than a computer sitting on idle for most of the day. An assortment of algos only makes it difficult/impossible to make ASICs, which are dedicated chips designed to only do one task very well. Since GPUS are more general purpose, it's only a matter of changing the software to mine a new algo. It is true that an independent miner can possibly find ways to minimize their electricity costs. They may live in an area where it is cheaper. The may also live in a cooler climate, so their coolings costs would go down. The real kicker though is a big guy will almost always be able to buy the equipment (the GPUs) for cheaper than the independent miner. It's the same reason why Wal-mart can get their goods for way cheaper than an independent grocery. I'm not an expert, but one factor is that the cost of shipping goods does not go up proportionately with the amount of goods transported. A bus may use more gas than a taxi, but it can carry up to 50+ passengers and doesn't use 10X the gas. Plus both the bus and the taxi each need only one employee to drive. |
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Antpool is now signaling SW...
They all are due to BIP91. If they don't, they risk getting their solved blocks orphaned. |
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I'm not sure why changing the POW algo to an Asic resistant GPU friendly algo would really stop a centralization trend. GPUs use electricity, correct? Part of the problem with the "Chinese mining cartel" is that they can get cheaper electricity. Correct? What's to prevent them from just establishing huge GPU mining farms and shutting out the little guys again? Not to mention that the bigger guys will be able to get a deal on the GPUS since they would be able to buy in huge bulk.
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Is there any chance for our private keys getting stolen when we import them in a possible rogue BitcoinABC wallet?
Yes. However, sticking to the official links posted by the OP should be OK, especially since the OP is a bitcointalk staff member. Plus, I don't think Bitmain, who backed the development of this coin, would sacrifice their reputation on releasing a trojan. But you never know in this crazy cryptocoin community. it actually is a possibility! bitcoinABC is not exactly being released by bitmain. it is a source code on Github with these people ( https://github.com/Bitcoin-ABC/bitcoin-abc/commits/master) who we don't even know are making the changes and commit them to the code. the code is not even the fork of bitcoin! which means it is impossible for us to go through all of the code, line by line to check where the shenanigans are. if it was simply forked from bitcoin there were a link under the name indicating this and then you could simply compare the two repositories to see only the changes. see the SegWit2x (btc1) repo, you will understand what i mean. it is simple and fast to check all the changes they have made to the code of bitcoin core. long story short, i would not trust this client at all unless i can understand the code. which i don't have the time for. p.s. it doesn't even have to be a trojan to leak your private keys. (just an example:) imagine if the way you make the transactions with their code has a bug in it that produces weak signatures and leaks your private keys when you sign a raw transaction and broadcast it! I guess the best solution if you want both coins is to stick all of your coins onto a paper wallet that you generated offline. Then after the fork, sweep the coins into the old chain, then sweep the coins onto this chain. Then only the private key(s) in the paper wallet are insecure, and you could simply not use the private key(s) for that paper wallet ever again. |
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Is there any chance for our private keys getting stolen when we import them in a possible rogue BitcoinABC wallet?
Yes. However, sticking to the official links posted by the OP should be OK, especially since the OP is a bitcointalk staff member. Plus, I don't think Bitmain, who backed the development of this coin, would sacrifice their reputation on releasing a trojan. But you never know in this crazy cryptocoin community. |
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We need something like a dns for all the coin names.Why is not anyone starting a project for centralised coin naming to avoid these kind of issues. A search on https://coinmarketcap.com/ and a google search of "(your ticker name) bitcointalk" is sufficient.  |
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If we hold our BTC on an exchange will we get BCC or do we need to hold it in a specific wallet? Sorry if this is posted somewhere just a link would be fine and I can read up
Thanks!
They need to be in a wallet where you control the keys by July 31. A hardware wallet works nicely. The is little chance someone can get a hardware wallet in time if they do not have one. A paper wallet will work. https://www.bitaddress.org |
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Bookmarking this thread. Please ignore this message.
All you need to do is press watch in the lower right hand corner and it will be bookmarked for you. |
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Please don't support cloud mining(most are scams and those that aren't harm the security of the coin) or investing in "futures" (tokens that don't even exist or may never) or support exchanges that freeze clients assets instead of allowing them to withdraw. Also please stop using that ticker as it is confusing others due to an altcoin already using it with a 400 million dollar market cap . WTF was VIABTC thinking? If you want to trade this alt wait till more legit exchanges like bitfinix, bitsquare or polo list it without any restrictions. I'd rather trade dump on Yobit than Bitfinex. I'm still quite sore at the haircut that I took from them last year, after the "hack". I didn't keep their tokens, because I lost all faith for them. They still have about 14 cents worth of dust from me. I hear the token holders got some of their funds back. I dumped them immediately, because I lost all faith in them. My bad, I guess. |
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Is this going to eventually be merge minable...?
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So does all of Jihan's/Antpool's hash power go BitcoinCash after Aug 1st?
If the parasites (Jihan, Ver, ViaBTC) all move their hash away from bitcoin... I hate to admit it but that makes BTC less secure overall but it's also nice to get rid of these clowns.
What's stopping Jihan, ViaBTC, and Ver to market dump their thousands of BTC after Aug 1 to plummet the price and freeze sales of BCC to artificially pump the price... making it appear as if BCC is the winning chain.
They will offer an option, most probably. I'm sure Antpool will give generous giveaway offers to anyone who opts to point their hash at Bitcoincash. Hashnest still owes me .39 BTC on my Pacmic contract. They better not try to pay me back in this bologna.  Edit: I just asked on their thread if Bitcoincash will be merge minable. If so, these pools can mine both at the same time... If it is merge minable, it would be quite the scandal if these pools didn't divulge that to their miners and keep the coins on the chain the miner opts out of... |
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