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

[tekmobile]

My philosphy is to use coins to make Bitcoin profit. Some coins are worth long-term holds, like DeepOnions, CVC, BAT and PTOY. Everything else is fair game. Ride the pumps and increase your Bitcoin. Bitcoin Cash is just another coin that is not worth holding long-term. But if you can use it for some short-term profit, why not..

So you see old bitcoin as a religion instead of a technology.
It can only go up is your mantra,

that my friend, is why you are going to lose it all.

Old Bitcoin is not magic, it is an old technology that no longer meets the needs of its users.

In less than 3 weeks Bitcoin Cash is at the 3rd top position on CMK,  within a year it will be #1 and old bitcoin-segwit will be in a death spiral.

Good Luck , you are going to need it.

 
╥Aztek

You do know many BCH holders will be buying BTC before the 2x hardfork to gain another free airdrop

I would rather have the original BTC but really can see the 2x being the dominant chain and wont be dumping the 2x because I think the miners will uphold the NYA

[ry474k3]

My philosphy is to use coins to make Bitcoin profit. Some coins are worth long-term holds, like DeepOnions, CVC, BAT and PTOY. Everything else is fair game. Ride the pumps and increase your Bitcoin. Bitcoin Cash is just another coin that is not worth holding long-term. But if you can use it for some short-term profit, why not..

So you see old bitcoin as a religion instead of a technology.
It can only go up is your mantra,

that my friend, is why you are going to lose it all.

Old Bitcoin is not magic, it is an old technology that no longer meets the needs of its users.

In less than 3 weeks Bitcoin Cash is at the 3rd top position on CMK,  within a year it will be #1 and old bitcoin-segwit will be in a death spiral.

Good Luck , you are going to need it.

 
╥Aztek

You do know many BCH holders will be buying BTC before the 2x hardfork to gain another free airdrop

Yes and they will dump this junk at the same time.Of course the people behind bitcoin crash have already doubled their bitcoin off fools buying this and are now buying it back for a fraction to rinse and repeat the cycle.

MUGGLES NEVER LEARN AND DESERVE IT

[cryptogaga]

Lol quite funny how you guys named the original Bitcoin something else, fact is there are a lot of vested interest from both parties as which one will hold the title for the most relevant coin. One cannot rule out the fact that BCC/BCH has got good points for trying to improve capacity to handle transactions better, but then the BTC Segwit and lightening implementations are being done to improve capacity and add innovations so no need to fight over tech let he who the crown fits wear it.

LN will not improve OnChain Capacity at all,
an exchange providing offchain transactions will be better than LN,
No limits on the amount , and no time locking of bitcoin , if the segwit-1mb bitcoin chain is spammed can allow those so called LN Time locked bitcoins to be stolen.

* The original bitcoin died when G.Maxwell turned it into segwit coin, so LN offchain shenanigans could Timelock your Bitcoin and steal fees from the time locked amounts. *

╥Aztek

Update
https://themerkle.com/bitcoin-cash-price-heads-toward-1000-as-trading-volume-outpaces-bitcoins/

Bitcoin Cash Continues to Dominate the Market

Right now, Bitcoin Cash is taking up all of the momentum, while Bitcoin itself is going down ever so slightly.
Additionally, it seems BCH has more trading volume than Bitcoin right now.
Both currencies have around US$3bn worth of volume right now, but there is a big difference between the two markets.

Well those are quite weighty allegations you made there about the primary motive of Segwit implementation, i just hope you are not telling the truth because that could spell doom for Bitcoin so i do not believe you at this point until it is proven, but i cannot also say you are lying because i don't have facts to prove, we should not hastily conclude yet in the coming weeks we will know if BCH can dethrone BTC or not (i doubt that).

[tekmobile]

You do know many BCH holders will be buying BTC before the 2x hardfork to gain another free airdrop

I know , I will not be buying any segwit coins, and I am all in BCH not old Bitcoin whatsoever.
I won't sell any BCH until the $7000 mark.

Both splits are segwit, and the majority of segwit supporters follow core like mindless drones, so I expect segwit2x HF to sputter and die if they even go thru with it.
Odds are those miners that get peeved because core shunned them , will just move to Bitcoin Cash , it is their path of least resistance and higher profit.


╥Aztek

Nobody knows what will happen but I expect all 3 to live on they may take 1/3 or the hashing power each although I doubt that will happen 2x may survive if the miners hold up to the NYA I dont think the BTC holder will be dumping the 2x coins as fast though

[ChainSmoker]

Well those are quite weighty allegations you made there about the primary motive of Segwit implementation, i just hope you are not telling the truth because that could spell doom for Bitcoin so i do not believe you at this point until it is proven, but i cannot also say you are lying because i don't have facts to prove, we should not hastily conclude yet in the coming weeks we will know if BCH can dethrone BTC or not (i doubt that).

Don't believe shit this guy has to say.he is a paid shrill.Just ask yourself simple question does BCHshit have dev team that you would trust your own money? NO
It's time to buy bitcoin at the dip before sigwit finally kicks in.Bitcoin will go to moon.According to fudsters like AztekPhoenix bitcoin died 151 times(https://99bitcoins.com/bitcoinobituaries/) lol.See where bitcoin price is now and how alive it is  

[cryptogaga]

Well those are quite weighty allegations you made there about the primary motive of Segwit implementation, i just hope you are not telling the truth because that could spell doom for Bitcoin so i do not believe you at this point until it is proven, but i cannot also say you are lying because i don't have facts to prove, we should not hastily conclude yet in the coming weeks we will know if BCH can dethrone BTC or not (i doubt that).

Don't believe shit this guy has to say.he is a paid shrill.Just ask yourself simple question does BCHshit have dev team that you would trust your own money? NO
It's time to buy bitcoin at the dip before sigwit finally kicks in.Bitcoin will go to moon.According to fudsters like AztekPhoenix bitcoin died 151 times(https://99bitcoins.com/bitcoinobituaries/) lol.See where bitcoin price is now and how alive it is  

LOL you guys just taking serious jabs at each other well the real king will wear his crown properly in the next few weeks

[BlackWidow]

Why dont you guys stop attacking each other and come with a stance and explain it

Do you like Bitcoin Cash BlackWidow? I seriously used to hate it hard

Ive looked into it. Not sure whos right at this point. The fact that this has got this much traction doesnt look good for Bitcoin, but look at what its trading at. That is one indicator as well. Cant call it. I own Bitcoin, and havent bought any Bitcoin Cash, and it seems most have done the same thing. Look at the price.

Also compare the numbers, Both Coins has basically the same Number of coins

old -segwit bitcoin is $4000   and New Bitcoin Cash is ~$1000

if only 25% of old bitcoiners cash out , at the 4X ratio they would be buying up 100% of the Bitcoin Cash, and would drive Bitcoin Cash Price Sky high while deflating the old bitcoin-segwit price.

It is a no brainer the profit is moving to Bitcoin Cash.
Sell 1 old Bitcoin and buy yourself 3 new Bitcoin Cash, even if the price rose a little you have 3 time more with Cash than segwitcoin
It is only a matter of time before everyone realizes this ,
so expect $8000 per Bitcoin Cash within a year as it takes everything away from the old tech segwit-bitcoin coin and some alts.


╥Aztek

You may have some good points. Like I said, Im on the fence.
But this isnt one of them. If everyone sold their Bitcoin, and put all its value into ANY coin, the same thing would happen.
So looking at the numbers this way is no way to do it

[Savik]

Will Segwit work as advertised without any flaws? Probably. But probably isn't good enough for those holding massive amounts of BTC. It is a particularly risky time to hold BTC before Segwit happens. If a big reduction in mining support happens, and there is a simultaneous mass panic, BTC will grind to a halt and drop like a rock before Segwit can save the day. I think we are starting to see some of this realization by BTC holders and today's drop in price. We'll watch over the next few days to see if it continues.

https://news.bitcoin.com/bitcoin-cash-8mb-block-479469-clears-over-37000-transactions/

uh, the people who pushed segwit are the ones holding massive amounts of btc and investment in btc related businesses.

Right, but the point I was trying to make is that a big change like Segwit adds risk. BCH is a hedge against that risk. BCH has already implemented their scaling solution and it has passed the stress test. BTC is still waiting for its scaling implementation and it hasn't been through real world stress tests.

If I held a large amount of BTC then I would also want to hold at least the same amount of BCH as protection in the event Segwit does not go well. If I saw that BCH had successfully implemented and tested its scaling solution then I would be inclined to buy even more BCH.

Regardless of your emotional feelings towards Segwit, it makes a lot of sense to protect yourself by at the very least holding an equal amount of BCH. These Pro-Segwit whales are hedging their bets. The ones who are dumping BCH are the peons at the bottom rung of the food chain and the whales are buying more than they held in the first place.

Very well said, short and to the point!

Thanks for the compliment. Additionally, there is no such thing as a singular Bitcoin any longer. Bitcoin (as a single entity) died on August 1st when Bitcoin split 1:1 into Bitcoin Segwit(BCS) and Bitcoin Cash(BCH). BCS is currently around $4050 and BCH at $850, so total Bitcoin value is $4900. Not bad! This is not a zero sum game. The name calling and emotional hatred is so misdirected. If you truly want to get back to Satoshi's vision then we should be fighting and comparing against fiat.

There is plenty of room for BCS, BCH (and soon B2X) and I hope they can all scale up to handle incredible amounts of transactions safely. If Bitcoin wants to take over the world then we will need all 3 to scale up successfully. Additionally, it diversifies your Bitcoin holdings and reduces risk of being exposed to just one single branch.

[tekmobile]

You may have some good points. Like I said, Im on the fence.
But this isnt one of them. If everyone sold their Bitcoin, and put all its value into ANY coin, the same thing would happen.
So looking at the numbers this way is no way to do it

Nope,
many of the altcoins have a much larger # of coins, so that wealth transfer would not be as powerful. Quantity must be ~ the same.
Plus you have the Fact , The Chinese Mining pools will still be dominate either way, but more profitable with Cash as it can hold a 8X more transaction fees per block.
Switching to an alt that did not use the sha256 asics would be devastating financially to the Chinese miners and they would never agree to support such an alt.


╥Aztek

I miss the days of being able to mine bitcoin on a GPU I gave up mining SHA256 shortly after the invention of ASICS I had a couple of BFL 60GH miners that ran of a RPi but it got to the point where I couldnt compete with electric costs I now just run a couple of RX480 rigs on nicehash.

[BlackWidow]

You may have some good points. Like I said, Im on the fence.
But this isnt one of them. If everyone sold their Bitcoin, and put all its value into ANY coin, the same thing would happen.
So looking at the numbers this way is no way to do it

Nope,
many of the altcoins have a much larger # of coins, so that wealth transfer would not be as powerful. Quantity must be ~ the same.
Plus you have the Fact , The Chinese Mining pools will still be dominate either way, but more profitable with Cash as it can hold a 8X more transaction fees per block.
Switching to an alt that did not use the sha256 asics would be devastating financially to the Chinese miners and they would never agree to support such an alt.


╥Aztek

No the quanity doenst have to be the same

Are you telling me that if everyone SOLD ALL THEIR BITCOIN AND BOUGHT ANOTHER COIN that said coin would not pick up the value.

Guess what? If everyone wanted another coin, as much as they want Bitcoin, that coin would be the one on top. To say otherwise doesnt make any sense.

Your argument here is a NO GO haha

[Savik]

There is plenty of room for BCS, BCH (and soon B2X) and I hope they can all scale up to handle incredible amounts of transactions safely. If Bitcoin wants to take over the world then we will need all 3 to scale up successfully. Additionally, it diversifies your Bitcoin holdings and reduces risk of being exposed to just one single branch.

Not really , Bitcoin Cash has the Onchain Transaction Capacity needed, and using exchanges for offchain transaction gives it Unlimited Transactions capabilities.

It's scaling is unlimited using exchanges ,
so why would any of the other pretenders be needed , they will wither and die as their is really no reason for those segwit coins mutation to exist.

Bitcoin Cash can handle it all.


╥Aztek

Then we are back where it started and all your eggs are in one basket. If BCH has a catastrophic event after BCS 'withers and dies' then we are all fucked and the cryptocurrency world comes tumbling down. It isn't a popular view, but I am in favor of multiple successful branches of Bitcoin.

[tekmobile]

There is plenty of room for BCS, BCH (and soon B2X) and I hope they can all scale up to handle incredible amounts of transactions safely. If Bitcoin wants to take over the world then we will need all 3 to scale up successfully. Additionally, it diversifies your Bitcoin holdings and reduces risk of being exposed to just one single branch.

Not really , Bitcoin Cash has the Onchain Transaction Capacity needed, and using exchanges for offchain transaction gives it Unlimited Transactions capabilities.

It's scaling is unlimited using exchanges ,
so why would any of the other pretenders be needed , they will wither and die as their is really no reason for those segwit coins mutation to exist.

Bitcoin Cash can handle it all.


╥Aztek

Then we are back where it started and all your eggs are in one basket. If BCH has a catastrophic flaw that becomes exposed after BCS 'withers and dies' then we are all fucked and the cryptocurrency world comes tumbling down. It isn't a popular view, but I am in favor of multiple successful branches of Bitcoin.

Also not forgetting ViaBTC wants rootstock on BCH (Bitmain in a a huge financial investor in RSK and a huge supporter of BCH)
https://twitter.com/ViaBTC/status/896016235816562688

And no matter how much you like it or not if its decided to implement and with ViaBTC and most likely bitmain holding over 90% of the hashing power you dont get a say

[bones261]

Peace Out , I leave you to the regularly scheduled Old Paid Bitcoin Trolls to start their fudding back up. Not that it will matter.

How do I get on the payroll? Why FUD for free when I can get paid?! BTCBTCBTC

[BitcoinOnFire]

Any reason 50% of BCH buy is in KRW ?

[tekmobile]

Any reason 50% of BCH buy is in KRW ?

Cos its a pump and its going to catch a lot of users out on the dump

[Lindsey-Crypto]

Any reason 50% of BCH buy is in KRW ?

What do you expect? It's just another altcoin...

[bones261]

Any reason 50% of BCH buy is in KRW ?

Because those South Koreans decided to abandon the kimchi and gobble up some BCH..

Cos its a pump and its going to catch a lot of users out on the dump

https://www.youtube.com/watch?v=oN2E-g0bt1Q

[BitcoinOnFire]

Any reason 50% of BCH buy is in KRW ?

What do you expect? It's just another altcoin...

Well I expect that if there is a good reason to buy, it should be wide spreaded, not focused in one specific country or one specific exchange.

Otherwise looks like manipulations, either BCH supporters have friend behind the xchange or they bought some expensive adds about BCH.

Also an exchange can show a fake volumes, which they can explaina as "an error" later? why not?

1 good way to pump is to pump a coin on 1 exchange to sell it on another exchanges with bigger volumes (this could work only if KRW volumes are some way fakes).

Do you guys have good reasons to trust bithumb?

[European Central Bank]

Do you guys have good reasons to trust bithumb?

nope. they got hacked for billions of won recently.

but as we saw with ethereum, the koreans appear to be as degenerate as the chinese used to be when it comes to alt gambling.

[wry]

While this pump has been interesting, the simple fact is that bitcoin cash will simply be just another alt coin until it gains the significant adoption by outside parties that bitcoin has.

I had thought that this would be its big advantage - adoption - if you already have the software and systems for using bitcoin, you already have the systems for using bitcoin cash.  However, as this article points out, that's not the case, more was changed than just the block size which made it tougher for trezor to support bitcoin cash than initially thought.

While I might keep some bitcoin cash in case I'm wrong, unless adoption picks up, this coin will just be another alt coin, similar maybe to litecoin, not worthless, but no big deal as coins with real innovation come along.