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

[coin@coin]

I wonder what will happen with BCH when bitcoin gold tomorrow is available, will the price skyrocket?

Good question, I think it won't affect BCH much, it has a few supporters and speculators, although BCH has been on a downtrend anyway.

[1714292072]

1714292072

[ehrz22]

Yes but looking over twitter and reddit comments it may not go as smoothly as expected a lot of users are angry about this and the miners seem to like the old EDA so "could" create a community split like ETH & ETC this was born from differences over an official upgrade

You guys are always complaining the one big miner mines the majority of blocks.
Well whichever way that miner picks is the way that the network will go.

So which difficulty adjustment they prefer will be chosen.
Everyone else can just shutup unless they have a warehouse full of ASICS that can outmatch the big miner, (who has supported Bitcoin Cash from Day 1.)

ASICS Talk  &  Bullshit walks  
(The Way Satoshi intended.)

* I be more worried that segwitcoin falls into a death spiral when 2x appears and the hash is split between 3 chains. *
Whether the EDA is still in place or a new difficulty adjustment, either way Bitcoin Cash has a difficulty adjustment.
Shitwitcoin has no difficulty adjustment in place to stop a death spiral.


╥Aztek

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain  

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

You're missing the point, investors, traders, miners, coders, developers, users: everyone involved in cryptocurrencies is being screwed with every new blockchains released, pure and simple. Take bch for instance, it has dropped 23% since July.

Agree, BCH price keeps dropping since it started. No wonder it will happen again now. I just dont get it why they are still doing this hard fork etc.
But still those coins have value now. Thats the only best thing that happened. I wish bch will recover its original value or will increase in the coming months.

[xl86]

I wonder what will happen with BCH when bitcoin gold tomorrow is available, will the price skyrocket?

Good question, I think it won't affect BCH much, it has a few supporters and speculators, although BCH has been on a downtrend anyway.

I think it might generate some postive influence, there is no premine in BCH anyway.

[serby10101010001100010]

Yes but looking over twitter and reddit comments it may not go as smoothly as expected a lot of users are angry about this and the miners seem to like the old EDA so "could" create a community split like ETH & ETC this was born from differences over an official upgrade

You guys are always complaining the one big miner mines the majority of blocks.
Well whichever way that miner picks is the way that the network will go.

So which difficulty adjustment they prefer will be chosen.
Everyone else can just shutup unless they have a warehouse full of ASICS that can outmatch the big miner, (who has supported Bitcoin Cash from Day 1.)

ASICS Talk  &  Bullshit walks  
(The Way Satoshi intended.)

* I be more worried that segwitcoin falls into a death spiral when 2x appears and the hash is split between 3 chains. *
Whether the EDA is still in place or a new difficulty adjustment, either way Bitcoin Cash has a difficulty adjustment.
Shitwitcoin has no difficulty adjustment in place to stop a death spiral.


╥Aztek

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain  

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

You're missing the point, investors, traders, miners, coders, developers, users: everyone involved in cryptocurrencies is being screwed with every new blockchains released, pure and simple. Take bch for instance, it has dropped 23% since July.

I'm not denying that we would be better off with just the one but there is nothing that can be done about it though so you have to take what you get

No matter if you like the core chain or not it's the only one that's been consistent and reliable and the one all forks are coming from

SegWit2x is loosing support fast even coinbase the biggest B2X supporter going has changed their stance and will still list BTC as the core chain and refer to the Segwit2x chain as B2X

I beg to disagree, of course something can be done about it, but don't worry, someone will address this issue sooner than later....

[serby10101010001100010]

Yes but looking over twitter and reddit comments it may not go as smoothly as expected a lot of users are angry about this and the miners seem to like the old EDA so "could" create a community split like ETH & ETC this was born from differences over an official upgrade

You guys are always complaining the one big miner mines the majority of blocks.
Well whichever way that miner picks is the way that the network will go.

So which difficulty adjustment they prefer will be chosen.
Everyone else can just shutup unless they have a warehouse full of ASICS that can outmatch the big miner, (who has supported Bitcoin Cash from Day 1.)

ASICS Talk  &  Bullshit walks 
(The Way Satoshi intended.)

* I be more worried that segwitcoin falls into a death spiral when 2x appears and the hash is split between 3 chains. *
Whether the EDA is still in place or a new difficulty adjustment, either way Bitcoin Cash has a difficulty adjustment.
Shitwitcoin has no difficulty adjustment in place to stop a death spiral.


╥Aztek

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain 

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

You're missing the point, investors, traders, miners, coders, developers, users: everyone involved in cryptocurrencies is being screwed with every new blockchains released, pure and simple. Take bch for instance, it has dropped 23% since July.

Agree, BCH price keeps dropping since it started. No wonder it will happen again now. I just dont get it why they are still doing this hard fork etc.
But still those coins have value now. Thats the only best thing that happened. I wish bch will recover its original value or will increase in the coming months.

"Since October 12, the price of bitcoin has surged from $4,800 to $6,199, within a span of 10 days. Investors have expressed their concerns in regards to such an abrupt increase in the value of bitcoin without major corrections."

https://www.cryptocoinsnews.com/bitcoin-price-corrects-5880-270-new-time-high/

“Because this 2x hardfork is so contentious, Coinbase cannot handle it the same way they handled the ETC and BCH hardfork. In other words, they can’t just choose one fork and ignore the other fork. Choosing to support only one fork (whichever that is) would cause a lot of confusion for users and open them up to lawsuits. So Coinbase is forced to support both forks at the time of the hardfork and need to let the market decide which is the real Bitcoin,” said Lee.

[serby10101010001100010]

I sincerely hope that you guys aren't that stupid to buy into that line: https://www.coinspeaker.com/2017/10/24/bitcoins-new-hard-fork-named-bitcoin-gold-already-active/

"When a group of Bitcoin users and companies split the world’s most popular cryptocurrency into two different versions on August 1st, 2017, it was an unprecedented event in the Bitcoin’s 9-year old history. Now just 84 days after that “hard fork,” as such splits are known, yet another version of Bitcoin has been created named ‘Bitcoin Gold’."

"“the purpose of Bitcoin Gold is to make Bitcoin mining decentralized again. Satoshi Nakamoto’s idealistic vision of “one CPU one vote” has been superseded by a reality where the manufacture and distribution of mining equipment has become dominated by a very small number of entities, some of which have engaged in abusive practices against individual miners and the Bitcoin network as a whole.”


https://news.bitcoin.com/several-bitcoin-service-providers-reveal-segwit2x-splitting-plans/

 The company also notes that Segwit2x doesn’t have replay protection, but Coinbase has initiated its own replay safeguard. David Farmer, the Coinbase director of communications, also wrote a separate blog post for the company, revealing its “timeline and support” for both Segwit2x and the bitcoin gold fork. However, the San Francisco company emphasizes that “there are concerns about its [bitcoin gold] security and stability.”  

"Gatecoin Exchange Refuses to Support Segwit2x, Customers Must Withdraw 12 Hours Before Block 494784"

https://www.reddit.com/r/btc/comments/78dqfy/due_to_segwits_weaker_security_wont_the_segwit1x/

[serby10101010001100010]

I'm not denying that we would be better off with just the one but there is nothing that can be done about it though so you have to take what you get

No matter if you like the core chain or not it's the only one that's been consistent and reliable and the one all forks are coming from

SegWit2x is loosing support fast even coinbase the biggest B2X supporter going has changed their stance and will still list BTC as the core chain and refer to the Segwit2x chain as B2X

Core chain consistent & reliable, man that is a laugh.

All of the complaints before Bitcoin Cash was Born about Segwitcoin being unusable and charging outrageous fees and merchants dropping it because it was too slow just flys over your head.

For those of us that pay attention , Bitcoin Cash has never made anyone wait a week to receive a transaction like segwitcoin has.
Bitcoin Cash is just technologically superior to shitwitcoin implementation.

Hate to break it to you.



Bitcoin Cash Massive 8MB BlockSize verses segwitcoin puny 1 to 1.7Mb blocksize.


╥Aztek

I second  that: https://blockcollider.org/#startx

"Transactions between blockchains is the most demanded feature for 2018."

https://www.bloomberg.com/news/articles/2017-10-24/bitcoin-pioneer-says-new-coin-to-work-on-multiple-blockchains

"Bitcoin Pioneer Says New Coin to Work on Multiple Blockchains"

[serby10101010001100010]

You guys whish you knew what you were talking about?

http://www.newsbtc.com/2017/10/24/coinbase-list-bitcoin-btc-segwit2x-hard-fork-november-full-transparency/

"Evidently, it is difficult to justify which forks of bitcoin is the majority chain and hashrate should not be used as a sole indicator. As bitcoin investor and Atlanta Digital Currency Fund partner Alistair Milne stated, miners tend to follow the more profitable chain and hash rate could very easily migrate from one chain to another, as seen in the case of Bitcoin Cash (BCH).

Milne wrote:

“Miners follow the money, they do not lead the money. This has never been illustrated more clearly than by Bitcoin Cash and the joke that is their difficulty adjustment algorithm. A rational miner fears the market negatively valuing the tokens they are trying to mine. They are extremely sensitive to profit and loss (no matter how rich they pretend to be). “

For instance, hypothetically, if companies have implemented the strategy of Xapo and listed Bitcoin Cash (BCH) as BTC and the majority chain upon its hard fork due to its hash rate, it would have caused extreme confusion amongst bitcoin users because the majority of miners and hashrate moved back to bitcoin once Bitcoin Cash became less profitable to mine."


                                                        Coinbase on Bitcoin Gold

Coinbase has shared the same sentiment with Bittrex and Trezor, and stated that Bitcoin Gold is not ready and unsecure.

“The Bitcoin Gold fork is projected to take place on October 23rd. Information about this fork has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time,” said the Coinbase team.

It is likely that Coinbase will not add support for Bitcoin Gold until the Bitcoin Gold development team adds necessary replay protection and completes its codebase.

[serby10101010001100010]

this coin is perfect for miners it can not be not profitalbe alt all : ) this is genius for MINERS.
I belive that EDA will be repaired if seg2x fails. But if there will be 2x and bcash it will be funn to wacth it.
And now bitcoin gold is comming.

You can bet BCH will be remembered long after BCG is forgotten.

BCH will be remembered for a long tine but not in a good way

I'm quoting myself lol

[serby10101010001100010]

this coin is perfect for miners it can not be not profitalbe alt all : ) this is genius for MINERS.
I belive that EDA will be repaired if seg2x fails. But if there will be 2x and bcash it will be funn to wacth it.
And now bitcoin gold is comming.

You can bet BCH will be remembered long after BCG is forgotten.

BCH will be remembered for a long tine but not in a good way

I'm quoting myself lol

To further illustrate my point in case you brain dead slow mofos did not get that right, market has decided: https://www.cryptocoinsnews.com/bitcoin-price-dips-below-5800-while-ethereum-recovers-beyond-300/

"Earlier today, on October 24, the bitcoin price dipped below $5,800 for the first time since October 19, due to the market’s decline in support for the upcoming Bitcoin Gold hard fork."

[bitcoinPsycho]

I think your the only person here lol

[Oliver2]

What is your view of the new btg, will you pull down the price?
I am more worried about this problem

[pawel7777]

...

To further illustrate my point in case you brain dead slow mofos did not get that right, market has decided: https://www.cryptocoinsnews.com/bitcoin-price-dips-below-5800-while-ethereum-recovers-beyond-300/

"Earlier today, on October 24, the bitcoin price dipped below $5,800 for the first time since October 19, due to the market’s decline in support for the upcoming Bitcoin Gold hard fork."

Author of the linked article made a mistake. BTG fork is indeed scheduled in Nov, but the distribution will be done as per 'snapshot' block, which was mined yesterday.

So, if anything, the dip in price could indicate that a lot of bitcoins have been purchased for the sole purpose of claiming free BTG, and those bitcoins have been dumped (either for fiat or alts) right after the snapshot block.

[serby10101010001100010]

...

To further illustrate my point in case you brain dead slow mofos did not get that right, market has decided: https://www.cryptocoinsnews.com/bitcoin-price-dips-below-5800-while-ethereum-recovers-beyond-300/

"Earlier today, on October 24, the bitcoin price dipped below $5,800 for the first time since October 19, due to the market’s decline in support for the upcoming Bitcoin Gold hard fork."

Author of the linked article made a mistake. BTG fork is indeed scheduled in Nov, but the distribution will be done as per 'snapshot' block, which was mined yesterday.

So, if anything, the dip in price could indicate that a lot of bitcoins have been purchased for the sole purpose of claiming free BTG, and those bitcoins have been dumped (either for fiat or alts) right after the snapshot block.

https://twitter.com/CremeDeLaCrypto/status/922643765579227136

At any rate, this author did not make a mistake when he posted this comment on twitter. Then the decline in support for BTC is a direct consequence to what the market (i.e investors and traders) view, at best as a non-event, at worst, a failure.

EDIT: in both cases, this does not look good, and I don't have to press hard for evidences, it's all over the news:

https://cointelegraph.com/news/fud-for-bitcoin-praise-for-blockchain-royal-bank-of-canada-ceo-on-crypto

There is little doubting that Blockchain technology is here to stay, and there are many traditionalists that are getting excited about that technology while also shunning its offshoot, Bitcoin.

McKay is in this same boat, backing the underpinning technology.

"Most people in the world aren't talking about Bitcoin. They're talking about Blockchain, the distributed ledger private or public that underpins the Bitcoin application of it," said McKay."

https://www.cryptocoinsnews.com/non-government-digital-currency-junk-says-mastercard-ceo-rejecting-bitcoin/

"If I pay for a bottle of water in Bitcoin, one day it is two bottles for a Bitcoin the other day it is 9,000 bottles. This does not work. Any currency needs stability and transparency, otherwise you will get all the illegal activities in the world. Why was the ransom for the virus (wannacry ransomware) collected in bitcoin? Why has China cracked down on bitcoin?"


https://www.cointelegraph.com/news/why-does-bitcoin-fail-as-a-payment-system

"One of the reasons there is a fee is because the larger the transaction data size, the longer and more energy it will take miners to validate the data,” Analysts at Bank of America Merrill Lynch said."

Last but not least: “Fees are not strictly enforced like transaction fees in normal banking, but if you don’t include appropriate fees, there is a serious risk that a transaction won’t be processed by a miner.”

[Jumat Kliwon]

I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.

[Ayers]

I wonder if bitcoin gold can beat bitcoin cash? Let's see a week again.

i don't think so because value as peak was 0.4 for bitcoin cash for bitcoin gold only 0.2 and already crashing, bitcoin cash also has the chinese big farm from bitcoin covering the network, with a very strong hashrate, bitcoin gold will have a bunch of gpu supporting it

[serby10101010001100010]

I think your the only person here lol

I'm the boss here, because noobs don't have the slightest idea what the fuck they're talking about, I'm here to stay, just like BCH, whether you like it or not. BTW the burden of proof is not on my side you btc schizophrenic psychopathe: https://btcmanager.com/ethereum-processes-more-transactions-than-bitcoin-after-byzantium/#utm_source=rss&utm_medium=rss

fresh news released just 26 mins ago.

EDIT: https://www.cryptocoinsnews.com/bitcoin-price-hit-50000-catch-apples-800-billion-market-cap-2022-says-previously-accurate-analyst/


"People need to start taking this seriously because today bitcoin caught up with Goldman Sachs. Within five years, it’s going to catch Apple, which has an $800 billion market cap."

You see, you btc schizophrenic psychopate, when I say I'm here to stay, I mean what I say, and even if this fucking analysist comes out to be true in his predictions about btc hitting 50ks within 5 years , which I highly doubt, rest assured I won't be crying over split milk.

[classicsucks]

Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.

The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :


http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go



Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.

They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.

However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.

It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.

It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.

The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.

No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.

That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.

Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.

Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.

As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.

As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.

The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.

With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.

Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.

That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.

[estenity]

Forget about Bitcoin Gold. It's the most-overhyped shitcoin I've ever seen. Now they're saying they forked but the code isn't ready? What a joke.

The 2x fork is hanging over the space like a death angel. And people are just clueless. Best article I've seen lately, Short and to the point :


http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-go



Coinbase announced yesterday they will call the current bitcoin blockchain as bitcoin with a BTC ticker after the segwit2x fork, regardless of its level of hashrate support.

They do not give any reason for their decision, but it so being bitcoin’s biggest company with some 10 million customers, the labeling may have quite some influence. Especially if others follow.

However, miners continue to show some 85% support for segwit2x, so it is unclear whether there will actually be a minority chain without protocol level modifications or whether it can survive with just 15% of the current hashrate.
Miner’s support levels for segwit2x.

It is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.

It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.

The market might decide it is all temporary and that the network will be back in good order in no time. In which case, although BTC’s price might dive slightly, it may hold significant superiority.

No one can quite predict the future and past events aren’t necessarily predictive either, but if segwit2x behaves as we have seen in previous forks, then it may reach a brief high of $2,700.
Segwit2x futures trading action.

That was its opening price on futures markets. Bitcoin Cash followed it quite closely once it launched in August. Segwit2x might do too.

Bitcoin’s price, as labeled by Coinbase, may retain $4,000 or so, thus we may have a new combined all-time high, but the two should then within hours diverge, establishing a clear winner, as far as market price is concerned.

Miners, at this point, are spectator-actors. If, that is, we ignore their potential participation and merger in the market price action as a whole.

As far as hash-rate is concerned, it will probably, perhaps even algorithmically, be distributed between the two chains based on their price action.

As such, the situation will probably be resolved within hours, and although vocally there may be all sorts of claims, it will likely be fairly straight-forward to objectively conclude just what the entire bitcoin ecosystem, in a very free market way, has decided.

The process, however, may be chaotic if facts remain as they are. Because although labeling may have influence, the hashrate does too since it actually runs the network.

With very rare blocks, BTC would probably grind to a halt, which may affect its price, but also miners. So now all eyes turn on them, with many wondering if bitcoin can really find itself in a situation where exchanges call the minority chain as BTC.

Arguably, they are following the futures market, so arguably it is the users or traders that are deciding. In which case, it is likely miners will also follow the market, not least because they are primarily profit motivated as we have seen previously.

That means bitcoin may continue operating at a very limited on-chain capacity, so bringing back, after the fork wars, that two horse race: ETH v BTC.

confusion may happen for some time in the middle of this complex situation

[klintay]

Bitmain are releasing a new batch of the S9 and only accepting Bitcoin cash as payment

https://twitter.com/BITMAINtech/status/922785788261163008

I would say the future is bright for bcash...