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

[bones261]

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...

The batch before this one also only accepted Bitcoin Cash and their latest L3 batch only accepted Bitcoin Cash as well. I'm glad Wu is showing his full support for Bitcoin Cash. However, he's going to have to do even more than he's already doing to make this coin soar.

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[samysamy1]

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.

I didn't invest in BTC this time because it was a well known issue that BTG was forked. I dont understand that people kept buying into in.

[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.

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

I'd say it'll be more like "mayhem". The author didn't even say what effect a full mempool will have on BTC1x. I already see the BTC mempool ramping up, and I think it's safe to assume that BTC 1x/2x trade volumes will be high, and Segwit is not going to help at all.  Let's estimate that with a 1x block every 2 hours, the mempool will be 150MB+ within 6-8 hours. At that point the BTC1x network will be effectively DEAD for 36+ hours. How people react to this will be interesting. This backlog should in turn put a strain on exchanges as people try to exit via alts. The money has to flow somewhere... So I see alts as the winners of this conflict.

Coinbase can call whatever they want BTC. It makes no difference in the hashrate.

Obviously whales will be pumping whichever fork they favor. But at some point the price bottom will fall out if coin trades can't settle onchain.

I don't see any outs for Kore other than a last-minute compromise. Changing POW is laughable and pathetic. Blockstream could try to buy out miners, but they're so heavily invested in the anti-Kore ideology that they would need to spend millions.

Rumor has it that Lukejr has an emergency github fork of BTC that changes POW, since Bitcoin Gold seems to be a complete scam. The Gold devs seem to be pre-mining BTCG at this time, and there's nothing miners hate more than a pre-mined shitcoin...

[Ayers]

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...

i don't think this is enough to recover the value, i think bitcoin cash need merchants like bitccoin to ahve better price, otherwise will be labeled as the other shitcoin forever

[alani123]

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...

i don't think this is enough to recover the value, i think bitcoin cash need merchants like bitccoin to ahve better price, otherwise will be labeled as the other shitcoin forever

Not only is it not enough, it'll also create quite a bit for selling pressure. Some people have been holding their bcash coins expecting a price rise and for that reason there's not much potential for a price increase.

[gyu22]

Is the market big enough for two forked bitcoin currencies?

Early indications suggest so, as bitcoin cash is alternating gains with losses by trading in a tight range so far on Wednesday. At press time, the bitcoin cash-US dollar (BCH/USD) exchange rate is $328. As per CoinMarketCap, the cryptocurrency has lost just 2 percent in the last 24 hours.

Still, the lack of price movement may be encouraging for supporters.

BCH has stubbornly defended the $300 mark even amid the noise surrounding this week's bitcoin hard fork and the creation of another rival project – bitcoin gold – that adopted a same go-to-market strategy. For more than two weeks, dips below $300 have been quickly undone, still, a more sustainable break above $350 levels remains elusive.

More broadly, the cryptocurrency did rally above $400 on Oct. 17, largely on the back of a surge in Korean trading volumes. However, the spike was short-lived as prices fell back to $300 in the subsequent days.

more: https://www.coindesk.com/room-bitcoin-cash-defends-price-amid-competition/

[gembitz]

https://imgflip.com/i/1y971j

 

lol

[iCEBREAKER]

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.

Why are you talking about Bgold in the Bcash thread?  It seems you are very insecure about competing shit-forks, being so concerned as to feel the need to suggest people "forget about" Bgold.

Do you remember when I predicted shit-forkers like you would wind up squabbling with other bands of shit-forkers, because of your and their demonstrated propensities to squabble, rage quit, and shit-fork?

It was obvious to me at the time, but the Gavinistas said my expectation was wrong.  Now I am gloating and all you rage-forkers are miserable, soaking the exact situation I gleefully warned would come to pass.

[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.

Why are you talking about Bgold in the Bcash thread?  It seems you are very insecure about competing shit-forks, being so concerned as to feel the need to suggest people "forget about" Bgold.

Do you remember when I predicted shit-forkers like you would wind up squabbling with other bands of shit-forkers, because of your and their demonstrated propensities to squabble, rage quit, and shit-fork?

It was obvious to me at the time, but the Gavinistas said my expectation was wrong.  Now I am gloating and all you rage-forkers are miserable, soaking the exact situation I gleefully warned would come to pass.

can you recommend a thread with a good synthesis of the bitcoin state-of-art ?

[Sukovsky]

Looks extremely bullish to me. And I usually make money.

[ashmodeus]

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

well
we already see that
first see on btc cash
a few days after bch come to market
bch got ranked 5 on coinmarketcap
but , how about btcG ?
still 900 ++ ?
Lmao

[tekmobile]

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

well
we already see that
first see on btc cash
a few days after bch come to market
bch got ranked 5 on coinmarketcap
but , how about btcG ?
still 900 ++ ?
Lmao

Until there is a active blockchain then NO coin can make the top 900 never mind the top 10 futures always get stuck on the end by trading volume rather than market cap

Bitcoin cash was around 940 before it officially launched then jumped straight to the top 10 and gold will be the same as soon as the chain is active then it will go straight into the top 10

Right now in the futures market gold is 100% higher in trading volume to its closest competitor so is currently the highest it can possibly be before launch

[Bitcoin Marketing]

Cant agree more, following the original Bitcoin whitepaper with its built in on-chain scaling ability, Bitcoin Cash is Bitcoin!

https://www.youtube.com/watch?v=Dnm-JY0XS-E

[gembitz]

bEEcASH looks better than BitcoinMold  weeee lol

[tiCeR]

Happy because bitcoin cash is now ranked 4 and already past Litecoin, I was initially pessimistic about the future of BCH but now everything is answered and no need to hesitate to invest Bitcoin Cash.

It's been dropping like a rock from the main pump in August. It's just a question of how long until it drops below litecoin, and then starts working its way down the list.

My condolences to all who have tried to catch the falling knife, but with the lack of a solid development team, B2X stealing BCH's thunder and cannibalizing its support BCH is going to fade into obscurity. At least be sure to get out before Coinbase and other remaining services release their coins and further waves of dumping hammer it.

Why does Coinbase hold those coins back for so long at all? Does anyone know the reason? I haven't been following that.

Probably because they don't support this but are having to reluctantly support it due to user demand so right now there working hard on getting Segwit2x which they do support ready for when it forks first

That surprises me a little bit because I am sure all these service provides like Coinbase or all exchanges are sitting on huge amounts of Bitcoins and would want all forks to be traded in order to redeem their own free tokens. It's a bit weird if they try to fight against that.

[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.

Why are you talking about Bgold in the Bcash thread?  It seems you are very insecure about competing shit-forks, being so concerned as to feel the need to suggest people "forget about" Bgold.

Do you remember when I predicted shit-forkers like you would wind up squabbling with other bands of shit-forkers, because of your and their demonstrated propensities to squabble, rage quit, and shit-fork?

It was obvious to me at the time, but the Gavinistas said my expectation was wrong.  Now I am gloating and all you rage-forkers are miserable, soaking the exact situation I gleefully warned would come to pass.

iCeTarD, FTFY: Why are you talking - I generally don't reply to fucktards who can't lrn2CAPs, but today I'm feeling cheerful. You see, you're the one who is very insecure about competing shit-forks, given that you're committed to the 1x fork and it's GAME OVER, BRO. Over the next few weeks we'll be hearing the death rattle of Kore, Lightning, and all of the shit that was foisted onto the Bitcoin community.

Troll harder.

[ipanda]

Cant agree more, following the original Bitcoin whitepaper with its built in on-chain scaling ability, Bitcoin Cash is Bitcoin!

https://www.youtube.com/watch?v=Dnm-JY0XS-E

so as you said, bitcoin gold might also be bitcoin

[lonesomestranger]

Cant agree more, following the original Bitcoin whitepaper with its built in on-chain scaling ability, Bitcoin Cash is Bitcoin!

https://www.youtube.com/watch?v=Dnm-JY0XS-E

so as you said, bitcoin gold might also be bitcoin

Not any of these forks, BCH, Bitcoin Gold or eventually upcoming "Bitcoins" , will ever be Bitcoin. Bitcoin is original and unique, these are just another way of rich people to make more money, but they will never replace Bitcoin. There is only one God, and that God is Bitcoin, you can't create other.

[tomkat]

i think i just got a bitcoin wallet, but how to put bitcoincash coins into the bitcoin wallet?

If you had BTC during the fork, then you have BCH.
Use Electron Cash https://electroncash.org/ and import (or sweep) your BTC private key(s)

[literatehog]

Hi, guys, tell me where are you incorporated?