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Author Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees - Hard Fork 15 May 2018  (Read 585739 times)
moli1
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February 11, 2018, 10:56:27 AM
 #13461

BCH price fell 11% to $1,211... market cap of bitcoin cash is $20 billion... original bitcoin had a maximum limit of 1 MB of data per block or about 3 transactions per second.
although these limits could be raised technically, the bitcoin community never reached a consensus after years of debate.
so, instead of raising the limits, the community decided to create another blockchain (which was later known as Bitcoin Cash) with the improved limits. the older bitcoins were taken to this new and improved blockchain that had a maximum limit of 8 MBs per block.
from the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block.
the purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.
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abeke
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February 11, 2018, 11:50:56 AM
 #13462

I wonder why big exchanges like Bittrex, Binance etc. don't have BCH trading pair against altcoins.

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February 11, 2018, 12:07:01 PM
 #13463

I wonder why big exchanges like Bittrex, Binance etc. don't have BCH trading pair against altcoins.

Cause there is no demand for it.
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February 11, 2018, 04:17:27 PM
 #13464

https://www.rt.com/business/418390-france-germany-bitcoin-clampdown/

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Website: www.Bitcoincash.org
Thread: Bitcoin Cash Thread
Donate BCH: 1JhDmQFpjndJGB7SjmD7C55fwwbkCpytaj

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tekmobile
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February 11, 2018, 04:21:26 PM
 #13465


You are aware that is a total BS article
coolcat86
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February 12, 2018, 06:28:23 AM
 #13466

BCH price fell 11% to $1,211... market cap of bitcoin cash is $20 billion... original bitcoin had a maximum limit of 1 MB of data per block or about 3 transactions per second.
although these limits could be raised technically, the bitcoin community never reached a consensus after years of debate.
so, instead of raising the limits, the community decided to create another blockchain (which was later known as Bitcoin Cash) with the improved limits. the older bitcoins were taken to this new and improved blockchain that had a maximum limit of 8 MBs per block.
from the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block.
the purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.

So according to your logic BCH transaction capacity is 3*8=24 transactions per second (that's a game changer), wow...
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February 12, 2018, 08:26:33 AM
 #13467

BCH price fell 11% to $1,211... market cap of bitcoin cash is $20 billion... original bitcoin had a maximum limit of 1 MB of data per block or about 3 transactions per second.
although these limits could be raised technically, the bitcoin community never reached a consensus after years of debate.
so, instead of raising the limits, the community decided to create another blockchain (which was later known as Bitcoin Cash) with the improved limits. the older bitcoins were taken to this new and improved blockchain that had a maximum limit of 8 MBs per block.
from the hard fork on August 1, 2017, Bitcoin Cash was born, increasing the capacity limit of each block.
the purpose of the fork was to raise the number of transactions that can be processed by increasing the block size to 8 MBs against 1 MB of bitcoin.

So according to your logic BCH transaction capacity is 3*8=24 transactions per second (that's a game changer), wow...

It should / will be adjusted to what's roughly needed ( + excess capacity for black Fridays) - like any proper finTech (Cash + Settlement -) solution should do.  Average Joe's user experience is always key and a decent security for high rolers.

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
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February 12, 2018, 08:35:38 AM
 #13468

A new star is born. Welcome Tiffany!

https://twitter.com/haydentiff/status/961991338668552192

 Shocked

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
Cyberfox
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February 12, 2018, 09:17:55 AM
 #13469

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

As for me, Shapeshift is very convenient but the fees are exorbitant compared to other platforms...I'm planning to use BestRate.org as it seems  like it has more advantages..the main is the principe of its work..it picks the highest rate amonng different exhange platforms, such as Changelly, ShapeShift, Evercoin, Bittrex, Poloniex and others.
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February 12, 2018, 09:27:39 AM
 #13470

Gentlemen - enough about PRICE, let's look at FUNDAMENTALS:

BTC doesn't work and LN can't work with a broken layer underneath it.
BTC development is a dead meme,
BTC is the target of Wall St. speculators, and has now lost its Tether price pump mechanism.
BTC has only first adopter momentum, which it loses more of each day (anyone look at the mempool or the market dominance chart lately?)

BCH works and adoption is growing more each day.
BCH development is steaming ahead.
BCH has 24x the capacity of dead BTC.
New investment will almost certainly go to the alt market looking for growth.

Watch the US Congress hearings today. Surely they will move the markets.

Really delusional. This guy seems to think he knows his stuff, must be really into crypto a while. Hmm lets see, account created February 17, 2016 - oh yeah - def been in the scene a ''looong'' time, wink wink

He's just a Bcash shill just ignore him like the rest of us LN already has more open channels than Bcash does nodes and it's not even ready yet also LN node count is catching up fast and will probably over take the Bcash node count within the next couple of weeks

There seems to be some narrative coming from them that LN needs some licence and expensive hardware from blockstream but something must be wrong with my LN node because it seems to be running just fine on the same standard computing hardware as my full node does and the licensing bit where I have to pay blockstream is missing  Huh

Also something is wrong with the fees too because I was told it would cost $100 to open a channel but when I opened a couple of channels on mine it didn't even cost me $1 so I'm just guessing it was a type and just was missing a decimal and should have said $1.00

I did buy some gear from the blockstream store though a week ago with no fees it wasn't as fast as I was expecting though as I was believed it to be instant but I swear I had to wait 250ms

Well, there's no demand for BTC transactions currently - just look here https://blockchain.info/charts/n-transactions to see the number of TXs is down from almost 500k to 150k per day. That's significant drop just within 2 months between december and february. With BTC price down more than 50% from ATH, and low number of TXs your $1 for opening/closing LN channel is impressive, however, if the price and no. of TXs will go higher, your costs will surely rise to $20 (or more) again.

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tekmobile
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February 12, 2018, 09:56:37 AM
 #13471

Gentlemen - enough about PRICE, let's look at FUNDAMENTALS:

BTC doesn't work and LN can't work with a broken layer underneath it.
BTC development is a dead meme,
BTC is the target of Wall St. speculators, and has now lost its Tether price pump mechanism.
BTC has only first adopter momentum, which it loses more of each day (anyone look at the mempool or the market dominance chart lately?)

BCH works and adoption is growing more each day.
BCH development is steaming ahead.
BCH has 24x the capacity of dead BTC.
New investment will almost certainly go to the alt market looking for growth.

Watch the US Congress hearings today. Surely they will move the markets.

Really delusional. This guy seems to think he knows his stuff, must be really into crypto a while. Hmm lets see, account created February 17, 2016 - oh yeah - def been in the scene a ''looong'' time, wink wink

He's just a Bcash shill just ignore him like the rest of us LN already has more open channels than Bcash does nodes and it's not even ready yet also LN node count is catching up fast and will probably over take the Bcash node count within the next couple of weeks

There seems to be some narrative coming from them that LN needs some licence and expensive hardware from blockstream but something must be wrong with my LN node because it seems to be running just fine on the same standard computing hardware as my full node does and the licensing bit where I have to pay blockstream is missing  Huh

Also something is wrong with the fees too because I was told it would cost $100 to open a channel but when I opened a couple of channels on mine it didn't even cost me $1 so I'm just guessing it was a type and just was missing a decimal and should have said $1.00

I did buy some gear from the blockstream store though a week ago with no fees it wasn't as fast as I was expecting though as I was believed it to be instant but I swear I had to wait 250ms

Well, there's no demand for BTC transactions currently - just look here https://blockchain.info/charts/n-transactions to see the number of TXs is down from almost 500k to 150k per day. That's significant drop just within 2 months between december and february. With BTC price down more than 50% from ATH, and low number of TXs your $1 for opening/closing LN channel is impressive, however, if the price and no. of TXs will go higher, your costs will surely rise to $20 (or more) again.

That was for opening 2 channels I opened a small one yesterday cost me $0.06 but I was only sending $0.16 testing and all that so technically cost a lot this is also native segwit (bc1)

https://blockchain.info/tx/e5b9a12eeba405d50d30c1f8d5541d02634754a0da73045ffdc04fb733e9d171

Rapidement
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February 12, 2018, 11:50:30 AM
 #13472


hv_
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February 12, 2018, 11:56:45 AM
 #13473

^
Nope - this is not the Segshit fanboy thread here..

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
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February 12, 2018, 12:00:38 PM
 #13474

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin
tomkat
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February 12, 2018, 12:05:02 PM
 #13475

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin

However, although LN may be relevant since it can be used in BCH eventually, Segwit is totally off-topic here, right?

.Ambit.    ██
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tekmobile
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February 12, 2018, 12:12:17 PM
 #13476

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin

However, although LN may be relevant since it can be used in BCH eventually, Segwit is totally off-topic here, right?

Lightning cannot be used on BCH in its current form though because when you forked you removed a bugfix to a long standing bug that is required to be fixed for LN to function
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February 12, 2018, 12:20:45 PM
 #13477

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin

Funny - how did I 'delete' or 'censor' ?

And no - yours devs and others have shown, that you do not need Segshit for LN.

Keep it simple stupid

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
tekmobile
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February 12, 2018, 12:33:20 PM
 #13478

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin

Funny - how did I 'delete' or 'censor' ?

And no - yours devs and others have shown, that you do not need Segshit for LN.

Keep it simple stupid

By telling something is not welcome if you had the power to delete you would but you don't so you have to do the next best thing

I never said you needed segwit for LN I said you need a bugfix because you removed the one segwit fixed the devs are welcome to try and fix this bug some other way if they wish and then yes LN will work without segwit but it's unlikely to happen.

If BCH did decide it needed LN then they will probably just merge the segwit code again as its already proven





tomkat
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February 12, 2018, 12:44:58 PM
 #13479

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin

However, although LN may be relevant since it can be used in BCH eventually, Segwit is totally off-topic here, right?

Lightning cannot be used on BCH in its current form though because when you forked you removed a bugfix to a long standing bug that is required to be fixed for LN to function

You're twisting the discussion all the time. The above was about relevancy of LN (and Segwit) in BCH and not if LN can't be used now because of something.
BCH devs and community aren't against LN in BCH.
-LN can be eventually used in BCH after fixing malleability
-Segwit is irrelevant since it won't be implemented in BCH

Segwit isn't the only solution for LN, since malleability can be solved without Segwit.
Instead of just scraping the surface try to dig slightly deeper - see below for a start
https://bitcoinclassic.com/devel/Malleability.html
https://www.reddit.com/r/btc/comments/6ldjrd/transaction_malleability_solved_without_segwit/
https://www.reddit.com/r/btc/comments/69s2wf/the_right_way_to_fix_transaction_malleability/

.Ambit.    ██
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██  ██
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████████████
   Become part of the mining family   
✔ SECURED  │ WHITEPAPER │  ★ 171% ROI
██   
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hv_
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February 12, 2018, 12:57:26 PM
 #13480

^
Nope - this is not the Segshit fanboy thread here..

That's censorship your against that since you are always criticize r/Bitcoin for deleting off topic this is supposed to be a free discussion coin

Funny - how did I 'delete' or 'censor' ?

And no - yours devs and others have shown, that you do not need Segshit for LN.

Keep it simple stupid

By telling something is not welcome if you had the power to delete you would but you don't so you have to do the next best thing

I never said you needed segwit for LN I said you need a bugfix because you removed the one segwit fixed the devs are welcome to try and fix this bug some other way if they wish and then yes LN will work without segwit but it's unlikely to happen.

If BCH did decide it needed LN then they will probably just merge the segwit code again as its already proven







Not so sure about how realistic these two things are - 1) I had the power to delete AND really execute this (I did not even report this post)

AND 2) Bitcoin Cash's protocol gets over-engineered for sake of dev-control - esp having 32MB on the road-map.

No - the protocol level must be as simple as possible to maximal-attrac solutions, ppl and devs on top and this means real decentralization, like elementary particles can be found anywhere in this universe and all other things are built on top of these. Only the inherent shape and basic physics are setting up the self-organizational structures - no other protocol (layer 1) devs needed.


Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
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