@tecmobile - thanks

Can someone not create 2 separate transactions, one from electron cash and one from blockchain wallet, that use the same unspent output (UXO),therefore kind of double spending the unspent output.  Seems to me this is perfectly possible, and that both the BCC network and the BTC network will consider the transaction as valid.

Tecmobile/ECB - thanks for the quick replies, I guess this means if I have unspent output X on main BTC branch, and I create transaction Y (BCC) using output x and also another transaction Z (BTC) using also unspent X, that I have effectively spent output x on both branches?

Hi there, so I'm still wondering, is there any difference between a bitcoin cash transaction and a usual BTC transaction?  Is it just the difference between my transaction being placed in a BTC (<= 1 MB transaction) on main chain or as a transaction in a new Bitcoin Cash block. 

So if I have a transaction, as a user, is it just luck as to whether my transaction ends up in the BTC or the BCC chain? 

Thanks.

This new coin is just an attempt to get in on the Crypto action. It's a centrally controlled Bitcoin wannabee!

thanks  .. a friend says he will take Bitcoin seriously when he can buy a Shashlik (a kind of Central Asian or Russian barbecue) with it.  A challenge in Central Asia but I'm working on it!  A pizza may be more doable but hoping it costs less that 10,000 BTC!

I had this interesting question from a work colleague this week. 

At what point did Bitcoin start to have a small dollar value of cents, and what series of events or triggers caused this?  When did it get recognised as having 'value'.  Any ideas or suggestions?

Bitcoin being talked about by banks (in good or bad light) is a sure sign of it's increasing success!

"Governments like to control currency, know where it goes to and control it for monetary purposes".

The only way governments can and are controlling Bitcoin is by overseeing the gateway to entering the system,
i.e. exchanges that buy and sell BTC for Fiat currency. Whether this is a good or bad depends on many things including how liberatarian your views are.

"There's nothing behind a Bitcoin .... The Blockchain is a technology, and yes it's real"

This goes along with this current trend of banks trying to separate the perceived negative connotations of "Bitcoin" with the highly innovative
technology of the "BlockChain".  So here's the deal: You can't (of course!) have one without the other.  It's like saying we don't like
the idea of cars, but engines are great.  It's the vision and value of the car (or truck or motorbike....) that drove the invention of the engine.

The Bitcoin (or any Altcoin) needs to possess value as an incentive for miners to validate and mine blocks, securing the blockchain
and any other 'applications' such as secure contracts.

Jamie Dimon is showing a lack of understanding here.

An understandable theory but no I'm not a sockpuppet ), I'm a genuine user who wanted to share the positive experience.  I've just not posted so often, hence the 6 month gap since last post.

I skim read your article.  Nice essay of all the benefits.  I like the Push/Pull argument.  Companies seem to be getting sneakier about enforcing recurring 'pull' payments for services, e.g. renewal of memberships.

Yes for the general Bitcoin user, and for people that have not delved into how it works, it's hard to see benefits to its use at the moment.  The more that places accept Bitcoin for products and services the more people will see it's benefits.  All a matter of time.  As time goes on I think we'll see Bitcoin adoption grow exponentially.

Confidence in the national Fiat currency and banks is also a factor.

High street banks primarily make money by 'creating' new money for loans and credit and then charging interest.

With Bitcoin its not possible to instantly create new BTC faster than the mining process allows, so it's hard to see how banks would have incentive to allow Bitcoin accounts as well as Fiat money accounts.

Using Bitcoin for international money transfer is one big area of interest.  Its currently expensive and has high friction.  Bitcoin offers a cheaper and more efficient solution to this.

so I was having several faceplant moments recently on discovering I had not recorded my passphrase to a Bitcoin Core wallet.  It had around 2.5 BTC in it.

I had carefully backed up the wallet.dat file several times but not the password.  I tried many variations of a few phrases I thought I could have used but without success.

Bitcoin QT (Bitcoin Core as it is is known now) uses strong encryption for the passphrase.  I envisaged many hours of trying different attempts to get into my wallet, very frustrating.

I came across walletrecoveryservices.com that offers a service to attempt to crack the password and access the wallet.  I was hopeful but also realistic that I may have lost the coins for good.  Within a couple of days Dave reported that he had managed to discover the lost passphrase and access the wallet.  Great news !!!  He took 20% as a commision, and returned the remaining 2.0 to me.

How is this possible?

walletrecoveryservices.com apparently uses algorithms that intelligently tries multiple combinations of passphrases from your best guess, across several PCs, more info on their web site.

You should ideally have an approximate idea(s) of what your passphrase may be. especially if the phrase is long. 

D.