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Author Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees  (Read 642523 times)
Icutgrass205
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September 27, 2018, 12:29:36 PM
 #16401

Does anyone know whats causing this surge?

Bitcoin, a peer-to-peer electronic cash system for the world. BTC tips are greatly appreciated 35BqJwcycsLDoPrBxmxuh1e4MY7bcDPvGW
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Piston Honda
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September 27, 2018, 01:42:04 PM
 #16402

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. 

www.dlsag.com ~ 1ex.trade
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September 27, 2018, 01:45:49 PM
 #16403

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.
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September 27, 2018, 01:55:10 PM
 #16404

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.
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September 27, 2018, 02:08:09 PM
 #16405

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.  Roll Eyes
Icutgrass205
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September 27, 2018, 02:17:52 PM
Merited by bones261 (2)
 #16406

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.

Bitcoin, a peer-to-peer electronic cash system for the world. BTC tips are greatly appreciated 35BqJwcycsLDoPrBxmxuh1e4MY7bcDPvGW
bones261
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September 27, 2018, 03:31:35 PM
Last edit: September 27, 2018, 03:53:36 PM by bones261
 #16407

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.  Huh

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Icutgrass205
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September 27, 2018, 04:06:40 PM
 #16408

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.  Huh
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?

Bitcoin, a peer-to-peer electronic cash system for the world. BTC tips are greatly appreciated 35BqJwcycsLDoPrBxmxuh1e4MY7bcDPvGW
bones261
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September 27, 2018, 05:04:49 PM
Last edit: September 27, 2018, 06:02:25 PM by bones261
 #16409


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.

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jojo69
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September 27, 2018, 05:26:41 PM
 #16410

pump baby pump

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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September 28, 2018, 06:56:37 AM
 #16411

Wow
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September 28, 2018, 12:00:25 PM
 #16412


THE NEXT 24 YEARS ARE CRITICAL
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September 28, 2018, 12:21:38 PM
 #16413

pump baby pump
Dump baby Dump
Icutgrass205
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September 28, 2018, 02:15:14 PM
 #16414

Why do people like to shit on bitcoin cash so much

Bitcoin, a peer-to-peer electronic cash system for the world. BTC tips are greatly appreciated 35BqJwcycsLDoPrBxmxuh1e4MY7bcDPvGW
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September 28, 2018, 02:18:20 PM
 #16415

Why do people like to shit on bitcoin cash so much
https://bitcointalk.org/index.php?topic=2396876.0

THE NEXT 24 YEARS ARE CRITICAL
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September 28, 2018, 02:25:09 PM
 #16416


But some people always make profit during this phase I hope price will remain above 500$ now it has good support there. But hard to say in which direction it will move this is tricky decision.
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September 28, 2018, 02:47:01 PM
 #16417


Just a few questions I have. BCH was created because of the block size issue correct? How was bitcoin every supposed to achieve global adoption at a 1MB block size limit? Secondly, in the Kleiman Vs. Wright court documents, Craig Wright and David Kleiman are pointed out to be satoshi nakamoto. If BCH is faster and cheaper, why is it not better than Bitcoin then? Seems that the only argument people have for me against that is that BTC is the original and BCH is a copy.

Bitcoin, a peer-to-peer electronic cash system for the world. BTC tips are greatly appreciated 35BqJwcycsLDoPrBxmxuh1e4MY7bcDPvGW
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September 28, 2018, 02:49:58 PM
 #16418


Just a few questions I have. BCH was created because of the block size issue correct? How was bitcoin every supposed to achieve global adoption at a 1MB block size limit? Secondly, in the Kleiman Vs. Wright court documents, Craig Wright and David Kleiman are pointed out to be satoshi nakamoto. If BCH is faster and cheaper, why is it not better than Bitcoin then? Seems that the only argument people have for me against that is that BTC is the original and BCH is a copy.
you my friend need to do a lot more research

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September 28, 2018, 02:50:50 PM
 #16419

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. 
In my opinion, it is real rocket for Bitcoin Cash because Bitcoin has been on the ride, and most of altcoins exponentially raised recent days.
Of course, there are thousands kind of bots operated on exchanges for many coins, including Bitcoin Cash.
Part of those bots play important role in temporary rises, but in middle- or long-term aspect, they don't have much significance.

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September 28, 2018, 02:55:26 PM
 #16420


Just a few questions I have. BCH was created because of the block size issue correct? How was bitcoin every supposed to achieve global adoption at a 1MB block size limit? Secondly, in the Kleiman Vs. Wright court documents, Craig Wright and David Kleiman are pointed out to be satoshi nakamoto. If BCH is faster and cheaper, why is it not better than Bitcoin then? Seems that the only argument people have for me against that is that BTC is the original and BCH is a copy.
you my friend need to do a lot more research

I have been researching this non stop and there are too many conflicting opinions, let me ask you this. If 5 billion people are demanding BCH to use as a currency every day, wouldn't that make the value of it skyrocket? Seems to me thats what bch wants to do. Also, there is a difference in what ABC wants to do with BCH than the direction Nchain wants to go with it. I know im missing alot of information, and I may have some facts wrong, but im still a noob and im still learning. I know there were more people involved in the satoshi nakamoto group but according to the legal documents in Kleiman V Wright, those two are the brains behind it, wright being the economical brain and kleiman being the technical brain if im not mistaken. Unless of course they stole the idea from someone else?


Im not trying to debate, I will clarify again that I am a noob and have only been in the crypto space for about a year. I have many friends who have been in it since 2009 but they all have conflicting opinions with facts to back them up about the whole BTC/BCH feud. Im just trying to clear up the fog.

Bitcoin, a peer-to-peer electronic cash system for the world. BTC tips are greatly appreciated 35BqJwcycsLDoPrBxmxuh1e4MY7bcDPvGW
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