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

[Mrpumperitis]

BIG Fongo time imo.
I dont see big money coming in now,
biggest bug in crypto for years...still not fully upgraded...still full of risks ..forwards or backwards...altcoins too...damnnnnn

(maybe time to stop dreaming about Lambos and pay off them credit cards/bills, while you still can)

[1593731824]

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[Mrpumperitis]

https://www.reddit.com/r/Bitcoin/comments/9j81ca/someone_exploited_the_core_bug_to_generate_01_btc/
If this si true......
sell.


level 2
suchClouds
Score hidden
·
11 minutes ago
Is 0.1 tBTC just an abritrary number?

It was arbitrarily selected, but it was the value of the output. He sent 0.1 tBTC to the address then spent that output twice in one transaction. You can only clone what you already have.

Also where is the proof that it was created out if thin air?

Click on the transaction itself and click Show Scripts and Coinbase to see the duplicate input. But also, 0.101 was paid as a fee (more than the value of the output), so even the address page shows a problem: blockchain.info thinks the final balance of the address is negative.

[vothuong1]

Nobuaki Kobayashi from Mt.Gox sold BCH at an excellent timing where BCH was worth around $1,200 each.

https://coincodex.com/article/2395/mt-gox-bankruptcy-trustee-says-he-sold-230-million-worth-of-btc-and-bch-between-march-and-june/

He is really lucky guy who sold this coin at very high price now he can buy back almost 3x or the same amount with around 65% profit. It is hard to predict about the future but nice to read this story.

actually there was another bull market where bitcoincash pumped to like 3-4k during all time high

[vothuong1]

How to earn etc via bitcoincash transactions?
https://www.reddit.com/r/Bitcoincash/comments/9j6b5j/crossing_chains_pay_025_with_bitcoin_cash_bch_and/

[vothuong1]

bitcoincash with a recent pumped like 20%, explanations? fundamentally tech improve?

[bones261]

https://www.reddit.com/r/Bitcoin/comments/9j81ca/someone_exploited_the_core_bug_to_generate_01_btc/
If this si true......
sell.


level 2
suchClouds
Score hidden
·
11 minutes ago
Is 0.1 tBTC just an abritrary number?

It was arbitrarily selected, but it was the value of the output. He sent 0.1 tBTC to the address then spent that output twice in one transaction. You can only clone what you already have.

Also where is the proof that it was created out if thin air?

Click on the transaction itself and click Show Scripts and Coinbase to see the duplicate input. But also, 0.101 was paid as a fee (more than the value of the output), so even the address page shows a problem: blockchain.info thinks the final balance of the address is negative.

This was actually done on the testnet, not the mainnet. However, if people don't update their nodes to run the patched version, people could get fooled if a malicious miner starts mining these blocks on purpose.People using SPV wallets can only hope that the nodes they are connected to are running the latest patched version.

[Icutgrass205]

Does anyone know whats causing this surge?

[Piston Honda]

Does anyone know whats causing this surge?

yeah it's called whalebots pumping after accumulating this garbage, so they can suck in and trap noobs FOMO buying now into a shit pump.  watch how fast it'll dump back down when they decide it to happen hahahaha. 

[broadhurst]

Does anyone know whats causing this surge?

yeah it's called whalebots pumping after accumulating this garbage, so they can suck in and trap noobs FOMO buying now into a shit pump.  watch how fast it'll dump back down when they decide it to happen hahahaha. 

The shady Bitmain has over a million Btrash and will pump and dump it leaving fomo's high and dry.

[PAMPT]

Nobuaki Kobayashi from Mt.Gox sold BCH at an excellent timing where BCH was worth around $1,200 each.

https://coincodex.com/article/2395/mt-gox-bankruptcy-trustee-says-he-sold-230-million-worth-of-btc-and-bch-between-march-and-june/

He is really lucky guy who sold this coin at very high price now he can buy back almost 3x or the same amount with around 65% profit. It is hard to predict about the future but nice to read this story.

actually there was another bull market where bitcoincash pumped to like 3-4k during all time high

It was pumped by bitpop and buttcointalk forum mods as a gesture of appreciation towards bitcoin whales that exhibited kindness to bch and let it live although they could turn around and kill it by unloading a neat amount of coins they got when it forked off btc. I was one of these massive legendary manipulators which places me next to giant crypto whales like loaded.

[lhtot8]

yeah it's called whalebots pumping after accumulating this garbage, so they can suck in and trap noobs FOMO buying now into a shit pump.  watch how fast it'll dump back down when they decide it to happen hahahaha. 

Lol, I don't know why you called Bitcoin Cash as a trash.
Roger Ver, who is one of the most famous guy in the crypto ecosystem, highly supports Bitcoin Cash.
Can you give me more explanation on reasons why you did think Bitcoin Cash is a trash coin. 

[Icutgrass205]

I have very conflicted thoughts on BCH so if someone could straighten them out I would really appreciate it. Half of me believes that BCH can change the world if it is adopted as a global currency, but the other half of me is very suspicious about its creation. I understand that it was forked from BTC because of the segwit issue. I learned that when a new coin is created from a fork, that all the previous coins that were unaccounted for or lost are created again in the form of the new forked coin. Am i correct? Forgive me for the noob question but I am just that, a crytpo noob. Furthermore, I have been told that CSW owns more than one million BCH created from the BTC that was unaccounted for during the fork and that he was asked by developers to burn it but he refused (again i dont know if this is true or not im just stating what i was told) , this makes me very suspicious of BCH. This is all so confusing, will someone please clarify for me if this is all just a scheme to dump on people.

A good friend of mine who has been in crytpo since the beginning explained it to me like this: BCH is just BTC without segwit and with bigger blocks, it still uses the SHA-256 algorithm so in terms of using it as a currency it is better, but security wise it is still the same.


Again I apologize for being all over the place, I am a noob and I have a lot of questions to ask.

[bones261]

I have very conflicted thoughts on BCH so if someone could straighten them out I would really appreciate it. Half of me believes that BCH can change the world if it is adopted as a global currency, but the other half of me is very suspicious about its creation. I understand that it was forked from BTC because of the segwit issue. I learned that when a new coin is created from a fork, that all the previous coins that were unaccounted for or lost are created again in the form of the new forked coin. Am i correct? Forgive me for the noob question but I am just that, a crytpo noob. Furthermore, I have been told that CSW owns more than one million BCH created from the BTC that was unaccounted for during the fork and that he was asked by developers to burn it but he refused (again i dont know if this is true or not im just stating what i was told) , this makes me very suspicious of BCH. This is all so confusing, will someone please clarify for me if this is all just a scheme to dump on people.

A good friend of mine who has been in crytpo since the beginning explained it to me like this: BCH is just BTC without segwit and with bigger blocks, it still uses the SHA-256 algorithm so in terms of using it as a currency it is better, but security wise it is still the same.


Again I apologize for being all over the place, I am a noob and I have a lot of questions to ask.

The BCH & BTC chains have the same history before BCH did a hardfork. Everyone who had BTC coins at that moment also had the same amount of BCH. I have not heard that CSW was asked to burn his coins. However, if this is true, why should he be asked to burn his BCH coins? No one else was asked to burn their BCH. This may be related to CSW making claims in the past that he is Satoshi, the creator of Bitcoin. So far CSW has made no conclusive proof that he is indeed Satoshi.
Also, BCH is not just BTC without segwit. It has several modifications to the code. 1st modification is that it added replay protection. Each transaction has a flag added to the signature, so that the transactions do not get played again on the BTC chain and vice versa. Also, BCH has a difficulty adjustment on each block, instead of a difficulty adjustment every 2016 blocks. There are other modifications as well and in November, Bitcoin ABC is implementing a hardfork which will introduce additional changes.
Furthermore, at the moment, BCH is not as secure as BTC because it has less hashrate. That means it is cheaper to implement a 51% attack on BCH than BTC. However, this can change if miners simply start switching their hashrate to BCH instead of BTC. This may happen if BCH is used much more, since the total amount of the fees the miners collect each block could exceed what they could get on the BTC chain. People may start finding BCH more attractive since the bigger blocks make each individual tx less expensive.
BTC is trying to solve the limited transaction problem by moving the transactions off chain through the Lightning Network. Although, someone could transact very cheaply, this can only happen once the have opened a channel. The act of opening a channel must be performed on chain, and could end up being very expensive if the BTC blocks start filling up. I suppose normal folks could use a gateway which would open up several channels at once using only one tx, and be slightly cheaper per individual. In my opinion, it seems like a rather convoluted and less secure way to transact. I could be wrong since I cannot really make much sense out of it.  

[Icutgrass205]

I have very conflicted thoughts on BCH so if someone could straighten them out I would really appreciate it. Half of me believes that BCH can change the world if it is adopted as a global currency, but the other half of me is very suspicious about its creation. I understand that it was forked from BTC because of the segwit issue. I learned that when a new coin is created from a fork, that all the previous coins that were unaccounted for or lost are created again in the form of the new forked coin. Am i correct? Forgive me for the noob question but I am just that, a crytpo noob. Furthermore, I have been told that CSW owns more than one million BCH created from the BTC that was unaccounted for during the fork and that he was asked by developers to burn it but he refused (again i dont know if this is true or not im just stating what i was told) , this makes me very suspicious of BCH. This is all so confusing, will someone please clarify for me if this is all just a scheme to dump on people.

A good friend of mine who has been in crytpo since the beginning explained it to me like this: BCH is just BTC without segwit and with bigger blocks, it still uses the SHA-256 algorithm so in terms of using it as a currency it is better, but security wise it is still the same.


Again I apologize for being all over the place, I am a noob and I have a lot of questions to ask.

The BCH & BTC chains have the same history before BCH did a hardfork. Everyone who had BTC coins at that moment also had the same amount of BCH. I have not heard that CSW was asked to burn his coins. However, if this is true, why should he be asked to burn his BCH coins? No one else was asked to burn their BCH. This may be related to CSW making claims in the past that he is Satoshi, the creator of Bitcoin. So far CSW has made no conclusive proof that he is indeed Satoshi.
Also, BCH is not just BTC without segwit. It has several modifications to the code. 1st modification is that it added replay protection. Each transaction has a flag added to the signature, so that the transactions do not get played again on the BTC chain and vice versa. Also, BCH has a difficulty adjustment on each block, instead of a difficulty adjustment every 2016 blocks. There are other modifications as well and in November, Bitcoin ABC is implementing a hardfork which will introduce additional changes.
Furthermore, at the moment, BCH is not as secure as BTC because it has less hashrate. That means it is cheaper to implement a 51% attack on BCH than BTC. However, this can change if miners simply start switching their hashrate to BCH instead of BTC. This may happen if BCH is used much more, since the total amount of the fees the miners collect each block could exceed what they could get on the BTC chain. People may start finding BCH more attractive since the bigger blocks make each individual tx less expensive.
BTC is trying to solve the limited transaction problem by moving the transactions off chain through the Lightning Network. Although, someone could transact very cheaply, this can only happen once the have opened a channel. The act of opening a channel must be performed on chain, and could end up being very expensive if the BTC blocks start filling up. I suppose normal folks could use a gateway which would open up several channels at once using only one tx, and be slightly cheaper per individual. In my opinion, it seems like a rather convoluted and less secure way to transact. I could be wrong since I cannot really make much sense out of it.  

Thank you for clearing that up, I guess what I really want to know is who claims all of the lost coins on the BTC chain that are turned into BCH?

[bones261]

Thank you for clearing that up, I guess what I really want to know is who claims all of the lost coins on the BTC chain that are turned into BCH?

There are no lost coins on the BTC chain. When BCH split from BTC, it did not require BTC be lost or destroyed. All of the coins that existed on the BTC chain at that point were now BCH coins on the BCH chain too. After the split, any new BTC created are only on the BTC chain and any new BCH are now only on the BCH chain.

Now if what you mean by "lost" are coins that were originally on the BTC chain that are not recoverable, because no one has the private key; those coins are also not recoverable of the BCH chain.

Edit: Maybe this explanation will help further.

A blockchain, when used in a cryptocurrency, is a type of ledger that records transactions. There are certain rules that must be followed to make entries into this ledger. If someone tries to make an entry in that ledger that does not follow the rules, the entry is rejected and does not become a part of the ledger. When BCH came into existence, it basically copied the BTC blockchain. It's almost like taking any file on your computer, copying it and then saving it with a different name. BCH also implemented new rules that went into effect on block 478,558. In order to add a new transaction to the BCH blockchain/ledger those new rules had to be followed from that point forward. These new rules violate the rules for the BTC blockchain, so they won't be added to the BTC blockchain. So now we have two distinct blockchains. Although they appear to be them same for the first 478,557 blocks, they are now completely different.

[jojo69]

pump baby pump

[clfliper]

Wow

[bitcoinPsycho]

[broadhurst]

pump baby pump

Dump baby Dump

[Icutgrass205]

Why do people like to shit on bitcoin cash so much