It should be over $9000  Give it a day or two! $16,000 by Feb. Doubling from 4000 to 8000 was ~90days |
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It is not useful to allow dishonest people to operate in a rules based environment where the ultimate foundation of the entire project is honesty.
Bitcoin is whatever the consensus mechanism decides it is. That was the original idea and one of the foundational pillars of what makes bitcoin as an idea able to function at all, and the result is in. Continuing to complain about it, and even going to far as to split the blockchain in two, is nothing short of an attempt to undermine bitcoin as a whole. They are enemies, not only of the personal wealth of many of us here, but far more importantly they are enemies of a lifeboat for countless millions of people when the economy collapses. They are, in a word, evil, right down to their core.
I agree. Consensus is very hard to achieve which guarantees very little change happens and change that is controversial never happens. |
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Can someone tell Ver and Wu to pump another fork so I can cash them out too? Maybe a nice BTG or BTX pump? Thanks!
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someone should make a 16mb fork. 16mb scales so much better then 8mb bch, that's the future.
Somebody is probably rushing to register the domain segwit16x.com now that you said that. |
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aaaand 3, 2, 1....
*bzzzzz* wrong! any time now though. so, wait, this cross chain thing, what the fuck? HOW? i mean, someone, somewhere, has to take he BTC amount and give out the LTC amount, but from what i saw in the demo video, neither of the two involved did that. one sent out btc and got ltc. the other sent out ltc and got btc. i'm very confused. It was a demo/test of the lightning network. Both people would need an open channel on each blockchain. |
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Why would lightning layer not be for the average Joe? It could be literally without fees if he and Starbucks agree there should be no fees. What would be the incentive for any of sides, he and Starbucks, not to do it?
It is certainly possible and might even happen for a while but you don't need the worlds most secure network to secure coffee funds. Opening a lightning channel could still cost Starbucks or the customer $10-$100 in fees to open or close on the bitcoin network. More likely Starbucks would open a channel with your bank and it's suppliers and close the channel each day, week, month to settle the account. I disagree. As far as i understood the Lightning protocol, although it's not easy and maybe I'm mistaken, if millions of customers open long lasting channel with Sturbucks there is no need to close all of them to bring funds back to fiat. Lighning channels can transfer the funds between each another, and in the end of the day Starbacks can transfer the funds from all daily transactions to "closing" channel (to call it that way) and confirm all of them from arbitrarily large number of customers with paying one single transaction fee for closing the "closing" channel. I believe they would gladly pay one opening/closing fee for each day, regarding the potential number of transactions. I don't think opening a channel with Starbucks and every other company you deal with is going to be the most efficient use of LN. If the average Joe does use LN, he will open channels with a bank or service provider like Coinbase. That provider will have open channels with major companies like Starbucks and your employer so that there are payments being made in both directions. The companies are paying out to some people and being paid in by others but only the net difference is recorded to the blockchain periodically. However, most people will just leave their coins with the bank/provider to handle the details so I still don't think the average Joe will use LN. The average person reading this thread might though. |
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I'm good mate, cheers!
I'm good either way lol, I just saw a future where BTC was in every Joe's "pocket", to replace Visa/Mastercard.
But LN should fix that.
The math just doesn't add up. There is no way the bitcoin network could ever scale (even with LN) to accommodate every person on the planet and it doesn't need to. It will disrupt the current system enough as it is and banks will have their role to play in the new system whether we like it or not. |
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Why would lightning layer not be for the average Joe? It could be literally without fees if he and Starbucks agree there should be no fees. What would be the incentive for any of sides, he and Starbucks, not to do it?
It is certainly possible and might even happen for a while but you don't need the worlds most secure network to secure coffee funds. Opening a lightning channel could still cost Starbucks or the customer $10-$100 in fees to open or close on the bitcoin network. More likely Starbucks would open a channel with your bank and it's suppliers and close the channel each day, week, month to settle the account. |
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Hey guys, maybe someone can make me understand
Do you think we will be able to use BTC in a couple of years to buy for example coffee?
The real question is, the minimum fee we can pay is 1 sat, there is nothing less than 1 sat, right? but if in the next years 1 sat = $2/3, the fee will be as expensive as the thing you wanna buy (coffee). I don't like this BTC = Gold/store of value, I want to use BTC for my everyday expenses.
I love when someone fixes the problem that doesn't exist. Specially when solution to future problems are discussed and developed all over the place. Riddle me this, just for fun: If 0.00000001 BTC is worth $2/3 as you speculate, how much is 1 BTC worth? When you realize how big that number is, you may google for lightning protocols which peg to BTC blockchain. You will find out that once 1 BTC is worth 200 million US$ you would have an option to open the lightning channel between you and Starbucks, and pay for the coffee for the rest of your life without ever having to pay the transaction fee on the main blockchain. What is more likely to happen is that people keep using their VISA/Mastercard/PayPal for coffee and groceries and Bitcoin becomes the settlement layer between companies and countries. Even the lightning layer will be for businesses not for the average Joe. |
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hold on to the private keys you were using as of 2 Nov.
Always a good idea. A wise man/woman/group once said: Sigh... why delete a wallet instead of moving it aside and keeping the old copy just in case? You should never delete a wallet.
Perhaps a better way to phrase that would be "...keep track of which private keys held bitcoin as of 2 Nov." |
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More info on this Bitcore (BTX) coin...
It looks like they just paid out 8.3 million of these to existing bitcoin holders on the 6th of November. You automatically have .5 BTX for each bitcoin you owned based on a 2 Nov snapshot. You have to import your bitcoin private keys to get your bitcore coins. You already own them even if you don't claim them right now so hold on to the private keys you were using as of 2 Nov.
Holding bitcore and registering the bitcore address on their site gives you an Airdrop each week based on the balance you hold.
If you're moving your bitcoin to claim your bitcoin gold, might as well claim the bitcore coin at the same time even if you don't plan on selling it right now.
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slightly off ...topic... such as it is...
what's all this carolina meme business? i missed that one.
Carolina Country Music Festival = CCMF = Choo Choo Mother Fucker |
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But I wonder, what do they exactly mean by Bitcoin? With all the forks and especially the VerWuCoin, being so vocal and omnipresent, would that not be a bit confusing for all these
VSP 's?
Nah, Mike N. said his group is getting bitcoin through the Gemini daily auctions. I'm sure that's where a lot of big players likely will go, and the WinkleVii are not auctioning any alts other than ETH. I guess the question is then... Will they add to their hedge fund futures or actual bitcoins? :/ If the former, we actually do not care We do care because there will be arbitrage between the derivative contracts and actual bitcoin which should keep the prices closely aligned. |
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If you have not sold your BCH, you are by definition supporting BCH. Anyone holding this shitcoin is a hypocrite if they then complain about it or any of it's negative effects on bitcoin.
Everyone should do their part to kill this thing by selling it. Not everyone will though because humans are ultimately greedy and self-serving. Very few are willing to sell today if they think there is a reasonable chance they can sell for more tomorrow, even though this behavior is the only thing giving BCH any value at all at the expense of BTC. The longer this thing survives, the more damage it does.
Being a holder of bitcoin helped bitcoin grow and survive. Holding BCH does the same for BCH.
Wait and see is not simply wait and see in this situation. Wait and see makes you a BCH supporter.
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I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.
The only reason Slush is growing is because all the other miners have abandoned BTC for now. Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left. If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say. |
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Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.
The pools will have programs that automatically switch to the most profit on a near instant basis. And you can bet the pools Bitmain controls offers the best iterations. I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing. |
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How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?
This was a well orchestrated plan by a few and the majority will follow IMHO It's only the beginning... Disclaimer:I'm only right 67% of the time  Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant. |
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How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?
Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway: Coin Date (UTC 24h) Remaining Change
BCH Nov 12th, 21:09 3 hours, 2 minutes (131 blk) +400.00% No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%. |
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