[ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees

[junan1]

isn't he missing, or rather pissing all over, one of the other more important points - 1 cpu = 1 vote.

You are wrong.
You should go back and look again at the bitcoin.pdf: https://bitcoin.org/bitcoin.pdf
Nowhere you will find 1 CPU = 1 VOTE.
You will find instead 7 times: "CPU power"

Of the linked whitepaper, section 4 paragraph 3 begins:

The proof-of-work also solves the problem of determining representation in majority decision making.  If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs.  Proof-of-work is essentially one-CPU-one-vote.  The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it.  If a majority of CPU power is controlled by honest nodes, the honest chain will grow the fastest and outpace any competing chains.

On introducing the concept, Satoshi did offer the simplified explanation of proof-of-work: "essentially one-CPU-one-vote".  He was pleased to observe that this method, unlike others he could conceive, required no special authority.

With this, Satoshi was able to replace thoughts like "If a privileged timeserver is honest" or "If the authority responsible for assigning IP addresses is honest" with "If a majority of the global hashrate is honest".

Both branches will continue to use proof-of-work in the way Satoshi described.  There is no deviation on the part of the Bitcoin Cash branch.

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[botros]

i need to understand something here ..

how come the Main Dev Team of Bitcoin Core apply segwit ?  where as the New BCC coin can apply it self over Bitcoin chain whith another competitor dev team ??

how does BitCoin Core Team approve that    



again in other meaning : can i creat XYZ coin and it  against ETH and promise to give ETH holder the same amount of ETH in XYZ  with out any approval of the ETH dev team ?

[Gizzard]

i need to understand something here ..

how come the Main Dev Team of Bitcoin Core apply segwit ?  where as the New BCC coin can apply it self over Bitcoin chain whith another competitor dev team ??

how does BitCoin Core Team approve that    



again in other meaning : can i creat XYZ coin and it  against ETH and promise to give ETH holder the same amount of ETH in XYZ  with out any approval of the ETH dev team ?

Maybe because a Staff Member decided to create this so the flock that follows him & his Team will go wherever... for a while

[benjy33]

BCC Pool @ https://pool.viabtc.com

Pool HashRate = 17 PH

Network HashRate = 6448 PH

Active Workers = 1483

Blocks Mined = 1

Coin Mined(BCC) = 13

Coin Price(USD) = 296.56


"Coin Mined(BCC) = 13" Why 13 ? Is there a 0.5BCC transaction included on top of the 12.5 coin reward ?

The data speak for itself no one supports this currency is an altcoin soon its price will be much lower

[junan1]

They didn't specify a Block Number, just a time right?

it doesn't exist until someone actually mines it. until then it remains an idea and nothing else.

You can run a Bitcoin Cash full node today and verify that there exist more than 16 million BCH.

[Spartinus]

I don't know how successful BCC will be. I feel like it's just going to end up like Ethereum Classic did when it forked off Ethereum (albiet maybe it will end up a bit better Ethereum Classic did).

[junan1]

There are legal reasons why , BCH will never be recognized as BTC/XBT.

Care to elaborate?  Such legal reasons may impact the SegWit2x effort, a similar hardfork planned for November but where many proponents clearly intend to recognise their fork and only their fork as Bitcoin (BTC).

[btcpona]

© "Bolivar cannot carry double" O. Henry

[junan1]

Did not knew coin.dance running countdown timer for fork. It's good but for better security it will better either move your coins now or wait for tomorrow events passed.

Be aware that the countdown will hit zero at 12:20pm UTC but the fork will likely not take place until a few hours later (I posted earlier on this).  Don't rely on the countdown for your coin-splitting plans.

[25hashcoin]

Bitcoin soon to be great again! Congrats all!

[Coryvmcs1]

MinerTopia Pool is ready for BCC miners.
https://pool.minertopia.org

-o stratum+tcp://stratum.minertopia.org:3333 -u WALLET_ADDRESS -p=BCC

1% Pool fee payouts every 3 hours.

[junan1]

Shapeshift has just disabled Bitcoin in their service as a precaution.

[Coryvmcs1]

Shapeshift has just disabled Bitcoin in their service as a precaution.

They have all disabled coinbase shapeshift kraken polo bittrex and keep going.

[junan1]

I don't know how successful BCC will be. I feel like it's just going to end up like Ethereum Classic did when it forked off Ethereum (albiet maybe it will end up a bit better Ethereum Classic did).

Ethereum forked away from Ethereum Classic.

[digiworld1]

Bitcoin soon to be great again! Congrats all!

???Speculation? some claim that Bitcoin Cash is the real bitcoin because it follows satoshi white paper!

[digiworld1]

Bitcoin soon to be great again! Congrats all!

???Speculation? some claim that Bitcoin Cash is the real bitcoin because it follows satoshi white paper!

Increase size: more efficient but more likely to be hack. It seems like thats one of the trade off! Eventually, market will decide the ultimate bitcoin!
http://www.businessinsider.com/bitcoin-and-bitcoin-cash-2017-7

[Hypocritus]

isn't he missing, or rather pissing all over, one of the other more important points - 1 cpu = 1 vote.

You are wrong.
You should go back and look again at the bitcoin.pdf: https://bitcoin.org/bitcoin.pdf
Nowhere you will find 1 CPU = 1 VOTE.
You will find instead 7 times: "CPU power"

Of the linked whitepaper, section 4 paragraph 3 begins:

The proof-of-work also solves the problem of determining representation in majority decision making.  If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs.  Proof-of-work is essentially one-CPU-one-vote.  The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it.  If a majority of CPU power is controlled by honest nodes, the honest chain will grow the fastest and outpace any competing chains.

On introducing the concept, Satoshi did offer the simplified explanation of proof-of-work: "essentially one-CPU-one-vote".  He was pleased to observe that this method, unlike others he could conceive, required no special authority.

With this, Satoshi was able to replace thoughts like "If a privileged timeserver is honest" or "If the authority responsible for assigning IP addresses is honest" with "If a majority of the global hashrate is honest".

Both branches will continue to use proof-of-work in the way Satoshi described.  There is no deviation on the part of the Bitcoin Cash branch.

Yes, I'm really glad you quoted this. I particularly like how Satoshi repeatedly referenced "honest"
Only, a big part of BCC is the (at-best) unethical, continued use of an illegally-implemented, patented technology referred to as ASICboost. And why do people continue to refer to it as "ASICboost" (which is the patent-holder's name for it), unless it means that there is some type of acknowledgment that it is indeed "ASICboost" ?

[almightyruler]

Is there an explorer for the new forked chain? bitcoincash.org seems to be missing a link to this obvious (and at this time, vital) service.

[HostFat]

Is there an explorer for the new forked chain? bitcoincash.org seems to be missing a link to this obvious (and at this time, vital) service.

https://blockchair.com/bitcoin-cash/blocks

[pushups44]

I'm not too worried about Bitcoin Cash. Competition in the market is healthy. This looks like it could be an airdrop to BTC holders.