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

[gembitz]

We're focused on EVERYTHING after the hard fork. We'll be able to run smart contracts and have our own tokens. Bitcoin Cash will absorb all of the best features of the other coins, something bitcoin core has been too scared to do

kill all tokens ~ smart contracts are stupid===> BitcoinInstant(BTI) is the only real legit bitcoin fork(*born in 2014*) weeeeee

[1714990812]

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[Bitbobb]

EOS will be used by anyone/everyone in the world, on top of BCH.  People will create their own business/tokens in EOS, being backed in BCH as the global backed currency.  This “race” to be the dominant crypto was never real.  It was always Bitcoin (Cash) and now with the final piece being EOS.

https://medium.com/eostribe/eos-bp-security-statement-e8cbf0df72db

[yayat]

BTC will never have an 'upgrade hardfork ' because the devs and thought leaders have convinced everyone that hard forks are the devil that will split the community no matter what.

[tomkat]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).



I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )

The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.

True for the average consumer(miner)your prices are probably accurate.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.

Also the producers of asics are always  ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.

Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.

We probably both right depending on the miner.
I think we can agree the price to mine 1og btc is between $2k - $3500 , def not the $8k some places have been reporting.
Lets say $2700 is an average price ...that price will 100% happen for og btc and
then more panic dumping can take its price lower than $2k, imo  

I wonder if Jihan or some other big mining group will tell us the cost for them to mine 1og btc.

Yes, your average is plausible, and... No, I doubt big miners will ever disclose their costs 

I know its from crazy John lols but  here is a recent comment(dec2017) from him regarding cost to mine a btc..
John McAfee
‏@officialmcafee
Replying to @MusicalKasparov
The coin itself us a product costing $2,000 to make.   https://twitter.com/officialmcafee/status/938953574729637889?lang=en

Some more (interesting) insights on mining from 1000-miners-owner perspective. Apparently, cooling is important but expensive

Using HVAC is the most expensive

Mid-sized miners are going to start turning off around $6800-7000

$2k is the ACTUAL BREAK-EVEN price for the biggest players

https://www.reddit.com/r/Bitcoin/comments/8mrher/ive_been_mining_bitcoin_for_30_months_here_are/

[tomsmith26]

EOS will be used by anyone/everyone in the world, on top of BCH.  People will create their own business/tokens in EOS, being backed in BCH as the global backed currency.  This “race” to be the dominant crypto was never real.  It was always Bitcoin (Cash) and now with the final piece being EOS.

https://medium.com/eostribe/eos-bp-security-statement-e8cbf0df72db

I only use and hold real coins such as bitcoin, DASH, KMD, XVG like as long investment . All fork coins are the only copies from them and so I never highly appreciate those fork coins .

[hv_]

Must watch. The trust machine - Bitcoin

https://youtu.be/ZKwqNgG-Sv4


 

[afbitcoins]

We're focused on EVERYTHING after the hard fork. We'll be able to run smart contracts and have our own tokens. Bitcoin Cash will absorb all of the best features of the other coins, something bitcoin core has been too scared to do

So not following Satoshi's whitepaper afterall ?

[phuckit17]

EOS going to knock you out your spot Bcash too crash.

[jbreher]

EOS going to knock you out your spot

Username checks out.

Incidentally, have you seen the recent expose' of EOS potentially fatal vulnerabilities from a significant group of EOS devs?

[zhouyc]

Bitcoin Cash project team is very reliable, technical capability and marketing are doing a good job, in the field of block chain payment, I think BCH will become NO1.

[konfuzius5278]

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS 

[tomkat]

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS 

POS has its use cases but it's more vulnerable to rich getting richer effect
https://www.yours.org/content/proof-of-work-vs-proof-of-stake-5437b3a591e7

Big coins are safe, and the smaller ones... well, in order to survive they should attract more hash power
https://www.crypto51.app/

[bitpotter]

Bitcoin Cash project team is very reliable, technical capability and marketing are doing a good job, in the field of block chain payment, I think BCH will become NO1.

Not necessarily, many close competitors BCH and it's not easy if you want to be number one, can you be sure as long as bitcoin is still there?

[konfuzius5278]

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS 

POS has its use cases but it's more vulnerable to rich getting richer effect
https://www.yours.org/content/proof-of-work-vs-proof-of-stake-5437b3a591e7

Big coins are safe, and the smaller ones... well, in order to survive they should attract more hash power
https://www.crypto51.app/

The argument the richer get richer is of course not really wrong. But whats the matter if the richest in a coin is a non profit social aspect which is never be sold.

[cool4y]

Bitcoin Cash project team is very reliable, technical capability and marketing are doing a good job, in the field of block chain payment, I think BCH will become NO1.

Bcash has none of the mentioned above capabilities.

[rendravolt]

EOS going to knock you out your spot Bcash too crash.

EOS may be only possible, EOS is not so dangerous, there are many other tokens that can do that especially token that is already popular.

[tomkat]

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS 

POS has its use cases but it's more vulnerable to rich getting richer effect
https://www.yours.org/content/proof-of-work-vs-proof-of-stake-5437b3a591e7

Big coins are safe, and the smaller ones... well, in order to survive they should attract more hash power
https://www.crypto51.app/

The argument the richer get richer is of course not really wrong. But whats the matter if the richest in a coin is a non profit social aspect which is never be sold.

Do you really believe in non-profit motivations behind greed-driven crypto space? Just look around for so called "foundations" holding millions of coins for their owners' benefits, or the ICOs in which 30-50% goes to the public, and the rest to team, PR, advisors, reserves, etc. And what about exchanges that are not paying POS stakes to their users?

[DjemBoot]

I found this, https://kyobit.com/market/BTC-BCH

DYOR before you trade there.

[Zin-Zang]

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS  

POS has its use cases but it's more vulnerable to rich getting richer effect
https://www.yours.org/content/proof-of-work-vs-proof-of-stake-5437b3a591e7

Big coins are safe, and the smaller ones... well, in order to survive they should attract more hash power
https://www.crypto51.app/

Whether you believe PoS is the final energy solution or some other consensus method yet to be created.
The fact is Bitcoin's Energy Waste has to be dealt with and sooner is better than later.  

https://bitcointalk.org/index.php?topic=4236251.msg38840457#msg38840457
https://bitcointalk.org/index.php?topic=4236251.msg38924570#msg38924570

[hv_]

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS  

POS has its use cases but it's more vulnerable to rich getting richer effect
https://www.yours.org/content/proof-of-work-vs-proof-of-stake-5437b3a591e7

Big coins are safe, and the smaller ones... well, in order to survive they should attract more hash power
https://www.crypto51.app/

Whether you believe PoS is the final energy solution or some other consensus method yet to be created.
The fact is Bitcoin's Energy Waste has to be dealt with and sooner is better than later.  

https://bitcointalk.org/index.php?topic=4236251.msg38840457#msg38840457
https://bitcointalk.org/index.php?topic=4236251.msg38924570#msg38924570

If you believe that it is wasted, than you might not understand open markets and the voluntary commitment into Bitcoin security model.

I'd only agree on the term 'waste' if you see how legacy Bitcoin is bribbled to limited use and user base, what,is fixed with Bitcoin Cash now.