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

[x2666]

We're quickly approaching a point where BTC is effectively unusable and stuck in place. What value does a commodity have if it isn't transferable? I'll give you my BTC in 60hrs or I'll give you my BCH right now.

Lies and bullshit. BTC is perfectly usable and perfectly transferable. If you don't want to pay enough tx fee then don't use it. All the rest of us have no problem whatsoever.

Its not usable for micro payment.

I don't consider $20 a micro payment either, I consider $20 equivalent of btc to be a normative payment. Sub $1 is micro payments, sub 1 cent is a micro payment.

$20 is a tip, a dinner bill, a monthly payment, a tank of gas.

Sending $20 is now impossible on the BTC fork. Unless you're willing to send $34 to pay $20 or receive $6 instead of $20.  

[winding-coils]

We're quickly approaching a point where BTC is effectively unusable and stuck in place. What value does a commodity have if it isn't transferable? I'll give you my BTC in 60hrs or I'll give you my BCH right now.

Lies and bullshit. BTC is perfectly usable and perfectly transferable. If you don't want to pay enough tx fee then don't use it. All the rest of us have no problem whatsoever.

Its not usable for micro payment.

I don't consider $20 a micro payment either, I consider $20 equivalent of btc to be a normative payment. Sub $1 is micro payments, sub 1 cent is a micro payment.

$20 is a tip, a dinner bill, a monthly payment, a tank of gas.

Sending $20 is now impossible on the BTC fork. Unless you're willing to send $34 to pay $20 or receive $6 instead of $20.  

As a form of function it makes PayPal attractive.

[baddw]

The full mempool argument is pure FUD.  It's due to empty blocks by attacking miners, who I'm sure are also contributing to the problem by spamming the network with no-fee dust transactions.  Anybody who does a normal transaction with normal fees gets confirmed quickly.

BCH is in a death spiral.  Volume is way down, transactions are practically 0, price is headed down.  It's barely more profitable than BTC at the moment, and that's before the difficulty adjusts way back up.  Glad I got out near the peak.

$20 is a micropayment of something that is worth $4500.  People don't try to pay for gasoline with ounces of gold, or shares of Berkshire Hathaway.  

SegWit will make for easier transfers from BTC to LTC and other coins with quicker block times that you can use to pay for your gas.  BTC's 10 minute blocks are never going to be great for retail transactions, even if they are bigger blocks.  

Remember, block creation is a stochastic process, designed to produce a block every 10 minutes *on average* but there's no way of predicting how fast they will actually come.  Even under normal times (not periods like the current hashpower manipulation) it is perfectly possible to have a Bitcoin block that takes over 30 minutes or even an hour to find.  On the other hand, there are many times where consecutive blocks are found within seconds of each other.  Bitcoin is never going to be a completely predictable payment network like a credit card company.  Off-chain transactions on the Lightning Network could be, however.

[winding-coils]

The full mempool argument is pure FUD.  It's due to empty blocks by attacking miners, who I'm sure are also contributing to the problem by spamming the network with no-fee dust transactions.  Anybody who does a normal transaction with normal fees gets confirmed quickly.

BCH is in a death spiral.  Volume is way down, transactions are practically 0, price is headed down.  It's barely more profitable than BTC at the moment, and that's before the difficulty adjusts way back up.  Glad I got out near the peak.

$20 is a micropayment of something that is worth $4500.  People don't try to pay for gasoline with ounces of gold, or shares of Berkshire Hathaway.  

SegWit will make for easier transfers from BTC to LTC and other coins with quicker block times that you can use to pay for your gas.  BTC's 10 minute blocks are never going to be great for retail transactions, even if they are bigger blocks.  

Remember, block creation is a stochastic process, designed to produce a block every 10 minutes *on average* but there's no way of predicting how fast they will actually come.  Even under normal times (not periods like the current hashpower manipulation) it is perfectly possible to have a Bitcoin block that takes over 30 minutes or even an hour to find.  On the other hand, there are many times where consecutive blocks are found within seconds of each other.  Bitcoin is never going to be a completely predictable payment network like a credit card company.  Off-chain transactions on the Lightning Network could be, however.

It costs some $5 to send $15, where is the function in that?
That transactions are confirmed quickly is subjective but do not satisfy my defining of quickly.

You make some valid points, but I feel like it's convoluted intentionally because something deeper is going on, and it is all pointing to rising fees and smaller blocks, how does that solve rising fees and long lead time?

I'm not talking retail transactions, I'm talking sending money to a wallet, what is an acceptable wait time and cost for what kind of transaction.

I feel as if the scope of who Bitcoin should function for "from the perspective of the team behind current BTC" does not fit in the "little guy"... wherever that threshold lies.

BCH held solid at or above 0.06 for 12 days since "crashing" after the initial pump. It has not seen levels this low since increasing value. In fact, one could argue that even at such dramatic volume drop off (for how long, services increase use will increase) that the value has held pretty solid.

[narutos]

Smartest Choice is not to use segwitcoin at all.
Because it can't handle the job.

Segwitcoin 71001 Unconfirmed Transactions
https://blockchain.info/unconfirmed-transactions



╥Aztek

this number increases rapidly and is now more than 74,000

presently 95,030 and increasing


Quote from: Chandu141 on Today at 04:46:13 PM

Damn again i see this ...

Warning: Unknown block versions being mined! It's possible unknown rules are in effect

also my transaction stuck from 8 hours  Undecided  do i need to pay more free from now on ?  Cry

https://blockexplorer.com/address/19kG9nu34WRLm5aw138w5m7Hen793LpkbH

We're quickly approaching a point where BTC is effectively unusable and stuck in place. What value does a commodity have if it isn't transferable? I'll give you my BTC in 60hrs or I'll give you my BCH right now.

And the next difficulty adjustment will see BTC drop by probably 30-40% maybe more possibly over 100% it all depends on how BCH games the emergency difficulty bug/loophole and this will bring the normal speed back and forcing BCH further down just to remain profitable plus as people start getting given segwit addresses will allow more transactions per block

Technically BTC has already mined a block greater than 1MB which means it had some segwit transactions in it and this will just get larger as more and more start using segwit addresses

so when is the next block adjustment?
bitcoin suppose to increase in price as November is near, free airdrop Bitcoin hard fork?
Bch might benefit miners short term, but what about long term? Btc withstands many competitions in the past n now being recognized more world wide. If you ask people what bitcoin cash is? they might be like huh?

[Skol600ml]

The full mempool argument is pure FUD.  It's due to empty blocks by attacking miners, who I'm sure are also contributing to the problem by spamming the network with no-fee dust transactions.  Anybody who does a normal transaction with normal fees gets confirmed quickly.

BCH is in a death spiral.  Volume is way down, transactions are practically 0, price is headed down.  It's barely more profitable than BTC at the moment, and that's before the difficulty adjusts way back up.  Glad I got out near the peak.

$20 is a micropayment of something that is worth $4500.  People don't try to pay for gasoline with ounces of gold, or shares of Berkshire Hathaway.  

SegWit will make for easier transfers from BTC to LTC and other coins with quicker block times that you can use to pay for your gas.  BTC's 10 minute blocks are never going to be great for retail transactions, even if they are bigger blocks.  

Remember, block creation is a stochastic process, designed to produce a block every 10 minutes *on average* but there's no way of predicting how fast they will actually come.  Even under normal times (not periods like the current hashpower manipulation) it is perfectly possible to have a Bitcoin block that takes over 30 minutes or even an hour to find.  On the other hand, there are many times where consecutive blocks are found within seconds of each other.  Bitcoin is never going to be a completely predictable payment network like a credit card company.  Off-chain transactions on the Lightning Network could be, however.

You just said that bitcoin is unpractical, expensive and will never be a coin in the real world.

You are the worse bitcoin's defender that i ever meet.

[jbreher]

Anybody who does a normal transaction with normal fees gets confirmed quickly.

There was a time when these were not 'normal fees':

[mindrust]

Mempool is full,
Fees are high,
because we are being betrayed and bitcoin is being sabotaged by the miners.

https://www.reddit.com/r/Bitcoin/comments/6vxe1c/the_first_block_mined_in_over_an_hour_is_an_empty/

And that's not today's thing. It's been like this for decades.

[winding-coils]

The miners said to adopt segwit and then to not use it?

[mindrust]

I have doubts on bitcoincash
Is there any good news that can convince me about this coin ?

This coin is mainly being promoted by;

Craig Wright: Claims himself to be satoshi without any proof.
Roger Ver: Went to prison for selling illegal explosives. Can't go to USA. Toxic to bitcoin for a very long time. Wants his own coin with the name of "bitcoin"
Jihan Wu: Owns Antpool, viabtc and every major mining pool. Has patents of ASICBOOST, and his products have a trojan horse, Antbleed.

If these are good news to you, go ahead buy in tons.

[baddw]

The full mempool argument is pure FUD.  It's due to empty blocks by attacking miners, who I'm sure are also contributing to the problem by spamming the network with no-fee dust transactions.  Anybody who does a normal transaction with normal fees gets confirmed quickly.

BCH is in a death spiral.  Volume is way down, transactions are practically 0, price is headed down.  It's barely more profitable than BTC at the moment, and that's before the difficulty adjusts way back up.  Glad I got out near the peak.

$20 is a micropayment of something that is worth $4500.  People don't try to pay for gasoline with ounces of gold, or shares of Berkshire Hathaway.  

SegWit will make for easier transfers from BTC to LTC and other coins with quicker block times that you can use to pay for your gas.  BTC's 10 minute blocks are never going to be great for retail transactions, even if they are bigger blocks.  

Remember, block creation is a stochastic process, designed to produce a block every 10 minutes *on average* but there's no way of predicting how fast they will actually come.  Even under normal times (not periods like the current hashpower manipulation) it is perfectly possible to have a Bitcoin block that takes over 30 minutes or even an hour to find.  On the other hand, there are many times where consecutive blocks are found within seconds of each other.  Bitcoin is never going to be a completely predictable payment network like a credit card company.  Off-chain transactions on the Lightning Network could be, however.

It costs some $5 to send $15, where is the function in that?
That transactions are confirmed quickly is subjective but do not satisfy my defining of quickly.

You make some valid points, but I feel like it's convoluted intentionally because something deeper is going on, and it is all pointing to rising fees and smaller blocks, how does that solve rising fees and long lead time?

I'm not talking retail transactions, I'm talking sending money to a wallet, what is an acceptable wait time and cost for what kind of transaction.

I feel as if the scope of who Bitcoin should function for "from the perspective of the team behind current BTC" does not fit in the "little guy"... wherever that threshold lies.

BCH held solid at or above 0.06 for 12 days since "crashing" after the initial pump. It has not seen levels this low since increasing value. In fact, one could argue that even at such dramatic volume drop off (for how long, services increase use will increase) that the value has held pretty solid.

It also costs $5 to send $20,000... there's a LOT of function in that!

Look, nobody controls how much BTC is worth.  A year ago when BTC was worth $500 or less, we're not having this conversation.  But I think we can all agree that the price of BTC going up is a good thing, right?  Yes, it presents some challenges.  Yes, some things that Bitcoin was used for previously, it's no longer practical to do so.  Same thing with gold coins.  Even a small gold coin (1/10 ounce) is impractical to use for most transactions nowadays.  But nobody's griping about that... anybody with gold coins is happy to keep them, or trade them for silver or fiat when they need to be used for smaller transactions.

And I'm not arguing that the block size shouldn't be bigger.  I think it should.  I think that SegWit solves part of the problem and also unlocks new opportunities.  If I had to vote, I would probably vote for SegWit2x.  However, I don't have any power, and I can see what way the winds are blowing.  I can see how all of the other BTC spin-offs have fared.  I can see how Ethereum Classic ended up.  I know how miners work (back when I was an SHA256 miner, I switched from BTC mining to MazaCoin mining because it was nearly 100x as profitable for a day or two).  I can see how this is trending.  There are no transactions on the BCH network -- most of the blocks just have a couple of transactions -- while Bitcoin is filling up every block.  What's useful is what's getting used.  BTC is getting used, BCH is not.  BCH will never catch on, and BCH supporters should be thankful that the majority of Bitcoin holders are either oblivious or scared to claim and sell their BCH while it is still high; the vast majority of "airdropped" BCH is still unclaimed.

The fact is, after a couple of days BCH will have a hard time being as profitable as BTC to mine.  At that point, the free-agent miners will abandon BCH.  It will basically be a single miner providing network security for BCH.  How is that any different than fiat, or credit cards?  How is it any better than LTC or DASH, both of which have faster blocks, lower fees, and actual distributed mining power?  Not to mention, a good track record in the top 10 cryptocurrencies?

I'm not arguing that BTC is without its problems, but BCH is an obvious scam.  It's a shot across the bow to the Bitcoin Core developers (and I'm not saying it's not needed!) but ultimately it is doomed to fail.  You should all do what I did: cash out your ~14% (20% in my case) "interest" in your Bitcoins, and move along.

[mindrust]

https://www.reddit.com/r/Bitcoin/comments/6vxdng/antpool_is_actively_sabotaging_bitcoin

[baddw]

The full mempool argument is pure FUD.  It's due to empty blocks by attacking miners, who I'm sure are also contributing to the problem by spamming the network with no-fee dust transactions.  Anybody who does a normal transaction with normal fees gets confirmed quickly.

BCH is in a death spiral.  Volume is way down, transactions are practically 0, price is headed down.  It's barely more profitable than BTC at the moment, and that's before the difficulty adjusts way back up.  Glad I got out near the peak.

$20 is a micropayment of something that is worth $4500.  People don't try to pay for gasoline with ounces of gold, or shares of Berkshire Hathaway.  

SegWit will make for easier transfers from BTC to LTC and other coins with quicker block times that you can use to pay for your gas.  BTC's 10 minute blocks are never going to be great for retail transactions, even if they are bigger blocks.  

Remember, block creation is a stochastic process, designed to produce a block every 10 minutes *on average* but there's no way of predicting how fast they will actually come.  Even under normal times (not periods like the current hashpower manipulation) it is perfectly possible to have a Bitcoin block that takes over 30 minutes or even an hour to find.  On the other hand, there are many times where consecutive blocks are found within seconds of each other.  Bitcoin is never going to be a completely predictable payment network like a credit card company.  Off-chain transactions on the Lightning Network could be, however.

You just said that bitcoin is unpractical, expensive and will never be a coin in the real world.

You are the worse bitcoin's defender that i ever meet.

LOL, not so much a Bitcoin Defender (I know it has its problems -- that's why I also own ETH, DASH, and others) but I can't stand to see stupid FUD about BTC by idiots trying to promote BCH.  Even the stuff that they get right is extremely misleading.  BCH has created a profitable situation, and everybody should maximize their BCH profits while they still can.  This includes miners and hodlers.  Miners should mine BCH while it's still profitable (probably won't be after next BCH adjustment).  Hodlers should sell their BCH.  It's free money that idiots are giving you.  You should take it while you can.

[narutos]

The full mempool argument is pure FUD.  It's due to empty blocks by attacking miners, who I'm sure are also contributing to the problem by spamming the network with no-fee dust transactions.  Anybody who does a normal transaction with normal fees gets confirmed quickly.

BCH is in a death spiral.  Volume is way down, transactions are practically 0, price is headed down.  It's barely more profitable than BTC at the moment, and that's before the difficulty adjusts way back up.  Glad I got out near the peak.

$20 is a micropayment of something that is worth $4500.  People don't try to pay for gasoline with ounces of gold, or shares of Berkshire Hathaway.  

SegWit will make for easier transfers from BTC to LTC and other coins with quicker block times that you can use to pay for your gas.  BTC's 10 minute blocks are never going to be great for retail transactions, even if they are bigger blocks.  

Remember, block creation is a stochastic process, designed to produce a block every 10 minutes *on average* but there's no way of predicting how fast they will actually come.  Even under normal times (not periods like the current hashpower manipulation) it is perfectly possible to have a Bitcoin block that takes over 30 minutes or even an hour to find.  On the other hand, there are many times where consecutive blocks are found within seconds of each other.  Bitcoin is never going to be a completely predictable payment network like a credit card company.  Off-chain transactions on the Lightning Network could be, however.

You just said that bitcoin is unpractical, expensive and will never be a coin in the real world.

You are the worse bitcoin's defender that i ever meet.

Many people buy Bitcoin n store it as value, therefore, not much care if transaction fees $5-20,
but for those who send small amount, transactions fees is quite high.

[winding-coils]

Well in all fairness who the idiots are is yet to be seen, he who sold or he who hold.

[SatoNatomato]

Why is this still not $1?

Are people having problems dumping their BiCH still?

Dump this, the faster the better for BTC.

[winding-coils]

Why is this still not $1?

Are people having problems dumping their BiCH still?

Dump this, the faster the better for BTC.

I will sell you all of mine for $500,000/ea

[tekmobile]

Why is this still not $1?

Are people having problems dumping their BiCH still?

Dump this, the faster the better for BTC.

Because no one gives a shit about segwitcoin ,
feel free to dump , once all of the stupid people are done dumping , Bitcoin Cash is going to $8000 per coin to show you how stupid you were.


╥Aztek

Keep smoking that magic stuff it's really working out for you and your gonna need it.

If you keep plowing through the blocks like you are then your gonna reach the reward halving very quick making this even less profitable to mine than it is now

The next difficulty adjustment is looking to be 4x less profitable according to fork.lol and I hope enough miners make sure you mine blocks just fast enough to stop the emergency reduction

No matter how you look at things every outcome of this coin has a bad ending

If Jihan had any faith in this he would let the user's decide but no he cannot do that he is purposely mining empty blocks and gaming the system to make this look better than it is because it's all he has

As the weeks go by you are slowly lowering your guard until it is a easy target for retaliation and your gonna be there bent over while Jihan rapes the lot of you

[TrumpBump]

From Ryan X. CEO of yours Reddit AMA just now... RIP Corecoin


MeatsackMescalero
•
1h

Thank-you very much!

Will BitPay, Purse, etc. be saddled-up soon to use Cash?
6
   ryancarnated
•
58m

I used to work at BitPay and we're good friends with Purse. We urge them to adopt BCC just like we did
12
   phowell23
•
45m

Huge!
4
   ryancarnated
•
44m

Thanks

[Asyifiah]

BCC/BTC mining together caused lots of error in the mining pools and empty block is a fall back security measure. It is solved now.
https://cointelegraph.com/news/antpool-asicboost-share-blame-for-bitcoin-network-delays