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

[junan1]

Only two blocks to go before the difficulty cascade begins!

Height		Time (UTC)		Size		Coinbase Text		REQ-7 Trigger*
478559		Aug  1 18:12:41		1916 kB		/ViaBTC/Welcome to the world, Shuya Yang!/		121 mins
478560		Aug  1 18:33:06		44 kB		/ViaBTC/Hello World!/		111 mins
478561		Aug  1 18:37:19		21 kB		/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/		97 mins
478562		Aug  1 18:52:58		90 kB		Pool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong		95 mins
478563		Aug  1 19:37:44		408 kB		Pool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong		60 mins
478564		Aug  1 21:05:15		463 kB		Pool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong		335 mins
478565		Aug  1 21:35:44		108 kB		/ViaBTC/Hello World!/		325 mins
478566		Aug  1 21:39:21		10 kB		/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/		328 mins
478567		Aug  1 23:38:29		421 kB		/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/		343 mins
478568		Aug  2 01:07:01		377 kB		Pool 1 Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong		386 mins
478569		Aug  2 02:51:49		376 kB		/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/		469 mins
478570		Aug  2 03:15:01		86 kB		/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/		203 mins
478571		Aug  2 16:20:19		4684 kB				186 mins
478572		Aug  2 16:36:31		122 kB		/Genesis Block 269-273 Hennessy Road Wan Chai Hong Kong/		301 mins
478573		Aug  2 18:01:34		767 kB				374 mins
478574		Aug  2 18:38:19		268 kB				434 mins
478575								369 mins
478576								1124 mins
478577								1137 mins
478578								1103 mins
478579								1051 mins

* If REQ-7 Trigger hits 720 minutes then difficulty will drop 20% making mining more profitable and giving us faster confirmations.

Faster confirmations perhaps, but not necessarily even close to the ~10m block time bitcoin has.

Since UAHF activated, we've seen 16 blocks over 32 hours, an average of one block every two hours.  Given the same hashrate, the average time per block will be reduced to 30 minutes once we reach block #478581.

We might expect the heightened profitability to attract additional hashing power, yielding an even greater block rate.

[classicsucks]

Omg it's so bad...
They don't even have retarget difficulty at every block? How retarted this is...It gained so massive market cap only thanks to support most of the exchanges...

Bro, bitcoin diff only retargets every TWO WEEKS. BCH changed the diff retargeting to happen faster but it really doesn't make a big difference because the BLOCKS AREN'T FULL.

Miner profits will be lower for a few weeks, but think about what will happen when diff lowers 5x...

[Jarod1231]

So are we still not able to deposit bitcoincash anywhere? This is getting frustrating, I wish I had known this was going to happen.. I would have just left everything I had in BTC on bittrex

[fedoros]

I can verify this solution if you are using Electron Cash. Thank you so much!

Change server to:
electrum-abc.criptolayer.net

same error.............

[DataAnalyst]

If you feel bad for not being able to move BCH from your account to bittrex or sell it for a decent price listen to this - few days before the fork, I've sold ALL of my alts, got BTC and deposited ALL on Bittrex and was waiting for the fork.My entire BTC stash was there, I got BCH.... and I sold @ 0.075.
Bloody idiot.

But hey, this is is a cryptoworld and it's unstoppable , do not feel bad if you missed a chance to make a great profit, just keep investing and your big day will eventually come.

[evok3d]

I can verify this solution if you are using Electron Cash. Thank you so much!

Change server to:
electrum-abc.criptolayer.net

same error.............

Electron-cash is broken for 2FA addresses and BCH. 

ah fair enough. not sure, mine went through after trying all day. The only thing different was the server change i believe.

[European Central Bank]

If you feel bad for not being able to move BCH from your account to bittrex or sell it for a decent price listen to this - few days before the fork, I've sold ALL of my alts, got BTC and deposited ALL on Bittrex and was waiting for the fork.My entire BTC stash was there, I got BCH.... and I sold @ 0.075.
Bloody idiot.

But hey, this is is a cryptoworld and it's unstoppable , do not feel bad if you missed a chance to make a great profit, just keep investing and your big day will eventually come.

hey, it was still a superb call. no one's gonna get that price in the wild.

[classicsucks]

Omg it's so bad...
They don't even have retarget difficulty at every block? How retarted this is...It gained so massive market cap only thanks to support most of the exchanges...

Bro, bitcoin diff only retargets every TWO WEEKS. BCH changed the diff retargeting to happen faster but it really doesn't make a big difference because the BLOCKS AREN'T FULL.

Miner profits will be lower for a few weeks, but think about what will happen when diff lowers 5x...

Diff retargets every TWO WEEKS only if the blocks are found at an average of 10 mins - 2016 blocks * 10 mins / 60 mins / 24h = 14 days.  If the blocks are found at every 1 hour, it will take 3 months to retarget...

True, but that would occur only after an earth-shattering change in hashrate. But you're right, BTC retargets every 2016 blocks. 

My main point was that not many coins retarget after each block... and that BCH will be fine with slow block propagation for a couple more days.

[junan1]

They don't even have retarget difficulty at every block?

They do, but the trigger considers the timestamps of the youngest 17 blocks and these take time to generate.  To take fewer blocks into account would invite timestamp manipulation.

[Iris Linus]

Hmm I still don't understand how this can wear the name 'Bitcoin'. Litecoin seems more Bitcoin to be than Bitcoin Cash.

What part am I missing in this puzzle?

[PilotofBTC]

Hmm I still don't understand how this can wear the name 'Bitcoin'. Litecoin seems more Bitcoin to be than Bitcoin Cash.

What part am I missing in this puzzle?

It's pretty much the bitcoin code with a few small changes.

[Iris Linus]

Hmm I still don't understand how this can wear the name 'Bitcoin'. Litecoin seems more Bitcoin to be than Bitcoin Cash.

What part am I missing in this puzzle?

It's pretty much the bitcoin code with a few small changes.

yeah but anyone could do that. I can change a few lines and call it Bitcoin Vulva

Now how is it related to Bitcoin? why does it deserve the tag Bitcoin Vulva?

Bitcoin Cash is just a random altcoin. Call it  Coin Cash, it's. Call it Bitcoin Cash, not ok IMO.

[DataAnalyst]

If you feel bad for not being able to move BCH from your account to bittrex or sell it for a decent price listen to this - few days before the fork, I've sold ALL of my alts, got BTC and deposited ALL on Bittrex and was waiting for the fork.My entire BTC stash was there, I got BCH.... and I sold @ 0.075.
Bloody idiot.

But hey, this is is a cryptoworld and it's unstoppable , do not feel bad if you missed a chance to make a great profit, just keep investing and your big day will eventually come.

hey, it was still a superb call. no one's gonna get that price in the wild.

Maybe it was  

Anyways, I don't want ppl to be discouraged by this.Crypto community should grow and no matter side they choose it's still good.

If someone wants a free advise on where to invest in, PM me, I do have a few ideas.

[digiworld1]

"Please consider referring to Bitcoin Cash as BCH"
Found this text, that makes sense
https://forums.prohashing.com/viewtopic.php?f=11&t=1753
edit:
Link shows this text
Postby Steve Sokolowski » Wed Aug 02, 2017 8:44 am
I wish I had been around to write about Bitcoin Cash last week, but we've been very busy trying to improve performance of our system. My one-line advice last week, which appears to be good for this morning at least, remains: don't sell Bitcoin Cash. It's going to be up and down for months, but people like us who actually send Bitcoin will continue to notice that the SegWit2x Bitcoin will remain overloaded and unusable. Meanwhile, Bitcoin Cash cleared out its entire mempool with each block. Technical stuff like that actually matters. Plus, the SegWit2x Bitcoin still has the same Core developers to deal with, it will remain mired in political deadlock, and it has uncertainty about the upcoming hard fork.

But the main point of this post is to implore people to begin referring to Bitcoin Cash as "BCH," a ticker symbol that was previously unused. While the exact symbol is unimportant, this seems as good as any because it has the most widespread usage so far. I urge community members to drop other symbols like "BCC." For one, the multiple symbols needlessly complicates software. Chris has wasted over a day now rewriting code to deal with this inconsistency. There are no other major coins that have inconsistent ticker symbols across exchanges.

More importantly, BCC has long been used by Bitconnectcoin, a popular coin with a high market capitalization. A search for the price of BCC can return the price of Bitconnectcoin, which has no relation to Bitcoin Cash. It has also been used to refer to Bitcoin Classic and even designates a futures market trading the hypothetical user-activated soft fork, which was averted. This user-activated soft fork is the complete opposite of what BCH is!

Please consider referring to Bitcoin Cash as BCH. We are submitting tickets to exchanges to suggest the same today. Referring to the coin as BCC causes people to accidentally buy and sell Bitconnectcoin, confuses people about Bitcoin Classic and Bitcoin Core, and creates unnecessary coding and debugging to deal with conflicting ticker symbols.
--- text end

Thanks for the info! BCH it is!

[PilotofBTC]

Hmm I still don't understand how this can wear the name 'Bitcoin'. Litecoin seems more Bitcoin to be than Bitcoin Cash.

What part am I missing in this puzzle?

It's pretty much the bitcoin code with a few small changes.

yeah but anyone could do that. I can change a few lines and call it Bitcoin Vulva

Now how is it related to Bitcoin? why does it deserve the tag Bitcoin Vulva?

Bitcoin Cash is just a random altcoin. Call it  Coin Cash, it's. Call it Bitcoin Cash, not ok IMO.

Exactly, but why is Bitcoin bitcoin?  Let's say 97% of the miners switched to this code version. Would it be bitcoin or not?

Is bitcoin still bitcoin, since it's running different code than when the blockchain originally launched.

It's all relative.

[jamesclark]

They don't even have retarget difficulty at every block?

They do, but the trigger considers the timestamps of the youngest 17 blocks and these take time to generate.  To take fewer blocks into account would invite timestamp manipulation.

Retarget every block could cause an oscillation of the difficulty, people can play with it, lol.

[junan1]

but think about what will happen when diff lowers 5x...

I hope you don't mind a tangential nitpick: A standard retarget event cannot change difficulty by more than a factor of four.

[AriesIV10]

I have bitcoin.  How do I move it in order to get bitcoin cash?

[junan1]

They don't even have retarget difficulty at every block?

They do, but the trigger considers the timestamps of the youngest 17 blocks and these take time to generate.  To take fewer blocks into account would invite timestamp manipulation.

Could you point me to the code that does that?  I searched GitHub and could not find the implementation of the new diff retarget.

Sure.  It's here:
https://github.com/Bitcoin-ABC/bitcoin-abc/blob/6df5c9ce02d801e04392e4ce13f84de7ed03e5d6/src/pow.cpp#L63-L82

Note the use of GetMedianTimePast which itself is calculated using the timestamps of earlier blocks.  This is implemented here:
https://github.com/Bitcoin-ABC/bitcoin-abc/blob/8907037aecf698848c2c4c4401840ba1512f4f8f/src/chain.h#L288-L302

[vingaard]

I have bitcoin.  How do I move it in order to get bitcoin cash?

From electrum webpage:

https://electrum.org/bcc2.txt