Hashrate for BU is still on a strong rise, i guess that's the reason for that last little dump.
Maybe the markets will give Wu a clue about BU.  |
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I knew that, but I didn't realized it was that long to verify the txs. thx again for your inputs. And why not simply a 10mb block? it wouldn't be that big a difference from now...
10mb would be more than ample for the current state of Bitcoin. That would be capable of verifying about 30 to 40 transactions per second. Maybe less since more empty blocks would still end up being mined. However, if Bitcoin wants to compete with the big boys and feasibly be used to buy a cup of coffee; gets the mass adoption us HODLs crave; then we need to find a way to verify thousands of transactions a second. I only see an off chain solution to get us to that step. |
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Sorry to ask but where to read more about BU and Segwit? there is not much info here... and even a big nothing in the mining section.
It is very difficult to find anyone that will discuss BU or Segwit. I wish there was more discussion about it but nobody has an opinion for one or the other. Isn't that the truth. I think most of the people bitching about it really don't fully understand either of the options. (me included lol) Both hope to solve the same issue however. Just BU at some point could trigger the hard fork. Segwit would only be a soft fork. Just the sounds of a hard fork spooks people as it probably should lol BU is a stupid solution anyway. If BTC ever wants to scale on something that would compete with Visa and Paypal, we'd need to increase the blocksize to 1GB+. Problem is, such a large block would take so long to verify, there would end up being a lot of empty block mined, and the large 1GB+ blocks would end up getting orphaned, anyway. IF BTC wants to even come close to scaling like the big boys, an off chain solution like LN is our only hope. if I get it BU is unlimited... thx for your comment anyway. Yes, BU is unlimited, but you ever notice from time to time an empty block gets mined? Why does this usually happen? Well, each node has to verify all the transactions of a block. So miners don't lose hash while the block is getting validated, the miner begins mining an empty block. The validation process currently take less than a minute for most nodes. To compete with someone like Visa, we need to validate like a 1000x more transactions than currently can be done. This would require 1GB blocks. However, that block would also take 1000 times longer to validate. Therefore, you would get a lot of empty blocks being mined since validating the blocks with lots of transaction in it would take a whole lot longer than 10 minutes. Since a lot of empty blocks would be mined, the blocks with actual transaction would have to get bigger and bigger. BU is fine if we want to keep the capability down to 50 transactions per second or less. But if BTC wants to get huge, an off chain solution makes more sense. |
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Sorry to ask but where to read more about BU and Segwit? there is not much info here... and even a big nothing in the mining section.
It is very difficult to find anyone that will discuss BU or Segwit. I wish there was more discussion about it but nobody has an opinion for one or the other. Isn't that the truth. I think most of the people bitching about it really don't fully understand either of the options. (me included lol) Both hope to solve the same issue however. Just BU at some point could trigger the hard fork. Segwit would only be a soft fork. Just the sounds of a hard fork spooks people as it probably should lol BU is a stupid solution anyway. If BTC ever wants to scale on something that would compete with Visa and Paypal, we'd need to increase the blocksize to 1GB+. Problem is, such a large block would take so long to verify, there would end up being a lot of empty block mined, and the large 1GB+ blocks would end up getting orphaned, anyway. IF BTC wants to even come close to scaling like the big boys, an off chain solution like LN is our only hope. |
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This question might sound stupid but I have been an investor never a miner .
If the fork would damage the price that much why would the miners go massively to it ? Wouldn't it affect their revenue? Or does people like Vinny Ligham overreact to the effects of an eventual HF?
It's a power play by the pools. From what I understand, the big pools made an agreement some time ago to accept segwit if the core team also made serious efforts to also increase the block size. They are just trying to force the Core team's hand to do what was agreed to. |
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People think that a fork is imminent. First of all, none of the big pools are going to switch to producing bigger blocks until they have at least 51% of the hash. Probably a lot more. The way BU works is that it will eventually go for the longest chain. If any of the big pools start mining bigger blocks with less than 51% of the hash, they'll end up mining a lot of orphans. You think they are that stupid?
All the core team needs to do is introduce a block increase as well as Segwit and everyone will kiss and make up.
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the devs war isn't our problem...
There is no devs war! There is a teenage psychopath in China w(h)oo thinks he rules Bitcoin. Now he is going to find out he isn't the hard way! And you don't think they can start rolling out ASICS that will only allow you to point a miner at a BU supporting pool? Better hope Bitfury starts sharing. |
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so , on the first of april i can mine this (BTU) and it will be a clone of bitcoin?
only a guess , but i think a lot off people going to trow a lot off asic to this clone
If you are mining BTC, you are already mining BTU, and this is retroactive since 2009. ATM there are 3,583,170,039 GH/s of hash pumping out new BTU coins right NOW. |
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When this official btu started someone know?
As soon as more than 50% of the hash starts mining blocks more than 1000KB. However, exchanges won't accept it unless BU devs agree to put in two way replay protection. Which is NOT going to happen. |
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Did Bitmain turn off the auto-rebuy for PACMIC v5 a few of days ago? I have it turned on but since the 15th, all proceeds are going to my wallet.  |
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do we have a problem?
Yes, I suck at trading. Back to Polio and lending my Satoshis to people wanting to go long on bullshit. let the market speak to you and your problems will vanish So far, the market is saying,"Dealer has Blackjack." I'll stick with the margin lending on Polio for now.  lol 3rd world problems... I only have .75 BTC right now. I can't ever buy anymore, or there is a rolling pin with my name on it. If I get rekt, then I lose my plaything, forever. Hopefully, Polio won't go Gox while I'm playing there. |
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do we have a problem?
Yes, I suck at trading. Back to Polio and lending my Satoshis to people wanting to go long on bullshit. let the market speak to you and your problems will vanish So far, the market is saying,"Dealer has Blackjack." I'll stick with the margin lending on Polio for now. |
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Is it true that this is the clone of Bitcoin (BTC)? Threads about this got my attention, so I wanna know if what is the difference and what is your advantage from it? I'm looking forward for your updates. By the way, if this is completely different, we hope you could encouge us for choosing this too.
Not a clone. More like a mutation. Is it evolution or a grave deformity? Time will tell. |
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do we have a problem?
Yes, I suck at trading. Back to Polio and lending my Satoshis to people wanting to go long on bullshit. |
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Are you guys rely serious about this, I will like to know the developers behind this, some people rely don't understand how Bitcoin derived its value some just think, it just come out like a weed. I will be watching how this pans out
LOL true this is a scam for sure Chinese upset that their bitcoins are trapped in exchanges. So what the hell. Antpool & ViaBTC are all in. Only need F2pool to join in on the action. Damn segwit and Lightning network. BTU can solve the scaling problem. BTU will solve the scaling problem by allowing any block size most miners see fit. Just think, BTU can compete with Visa with 1GB blocks.  Want to run a node on your home desktop? Don't worry, your hard drive will be nice and full after a week or two.  |
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The bulls are back. Go bitcoin go!
This is exhausting. And as soon as I put my ask in, the floor falls from under me.  |
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It is an official?
You must be kidding, this must be a scam, not official, easy to cheat on people, never trust this people, it is newbie. Not a joke. You can download the wallet NOW. https://www.bitcoinunlimited.info/download |
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