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

[x2666]

As I understand the lightning network is not ready for use on the mainnet and only for the testnet of bitcoin.
He probably ment that he sent BTC to a segwit address. if so, it's actualy a normal BTC transaction, that has to be confirmed in the same way a a normal bitcoin transaction.
A lightning network transaction works in a different way.

https://lightning.network/

https://news.bitcoin.com/lightning-network-launches-third-release-featuring-bitcoin-litecoin-atomic-swaps/

http://www.investopedia.com/terms/s/segwit-segregated-witness.asp.

Yes, you're right, I misspoke there.

[ChainSmoker]

Anyone wanting to watch segwitcoin die, here are some recent quotes from the segwitcoin forum.

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

You are as dumb as the person who post that.Why? Because you don't know that bitcoin fees depend on transaction size not on amount.Hell,you can send a million $ with 5$ fee in bitcoin network as long as you have 256 byte transaction (considering 400sat/byte fee)

[Odeoke]

Anyone wanting to watch segwitcoin die, here are some recent quotes from the segwitcoin forum.

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

You are as dumb as the person who post that.Why? Because you don't know that bitcoin fees depend on transaction size not on amount.Hell,you can send a million $ with 5$ fee in bitcoin network as long as you have 256 byte transaction (considering 400sat/byte fee)

Agreed with you this thread is full of some funny posts actually in the end BCH will lose more value in coming days I don't think this coin has any future without any adoption I sold my all coins in recent pump and keeping the funds into bitcoin.

[Juiceboxx]

Exodus released EDEN for advanced users enjoy the new wallet. Great bitcoin cash wallet. https://www.exodus.io/eden/ Videos below explaining everything. Enjoy.


https://youtu.be/AmUcY48tLoM
https://youtu.be/O0qClELg4jc

[zinkla]

Anyone wanting to watch segwitcoin die, here are some recent quotes from the segwitcoin forum.

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

You are as dumb as the person who post that.Why? Because you don't know that bitcoin fees depend on transaction size not on amount.Hell,you can send a million $ with 5$ fee in bitcoin network as long as you have 256 byte transaction (considering 400sat/byte fee)

You can send a million $ with 5$ fee? but for what?  we dont ever need that much in our daily actviities. we only needs $5-10 to top up my prepaid, we only need about $15 for our lunch bill, etc

[chicken65]

Lemme in!

"Bitcoin sucks, Dump it"
"BCH sucks Dump it"

[roselee]

I see absolutely no benefit to segwit at all, and not even one person has come forward to tell us , we are wrong and the reasons why we should embrace segwit over bitcoin cash  

You must be mentally ill or paid to think something as ridiculous as that.

Source code: https://github.com/fyookball/electrum

Who's the developer of that? Seems shady.

Coincidence Dash seeing nice gains alongside BCC? Check out who is featured on this guest-list.

A scam coin getting pumped along BCC? How surprising.

lauda, you talk so much shit, its unreal, you mislead and lie, im sure i know you from another name in the past here...and i hated you then aswell.
You should get out of crypto and stick to cats.

My point highlighted above , again its true, instead of decent conversation on pros-and cons...i get shit, dumb, crap one liners from pathetic stupid chart watching loser trolls.

as for your instamined dash crap, and same with you tek , that shitty monero ..has it even got a wallet yet lol...
go troll your fake-private coins.. on some nooby forum where people are unaware of the long-con.

hi pumpy nice to see you again.
so you are con segwit? 
i wonder since you are always very well informed did you see a secure bch wallet yet ?

[roselee]

Anyone wanting to watch segwitcoin die, here are some recent quotes from the segwitcoin forum.

Its a shame, to transfer $10 will cost me $5, this is not how bitcoin should be. very disappointed

You are as dumb as the person who post that.Why? Because you don't know that bitcoin fees depend on transaction size not on amount.Hell,you can send a million $ with 5$ fee in bitcoin network as long as you have 256 byte transaction (considering 400sat/byte fee)

You can send a million $ with 5$ fee? but for what?  we dont ever need that much in our daily actviities. we only needs $5-10 to top up my prepaid, we only need about $15 for our lunch bill, etc

and to pay that much for a simple tx was for sure not the idea of satoshi. i remember there was a space for fee free tx reserved by satoshi in each block. and that is gone. the way btc is going is to be a richmans coin. was that the intention of satoshi ?

wasnt btc ment to be a freedom coin ? btw what was the reason to put a cup on blocksize ? wasnt it unlimited at the beginning ?

[Gss2k2]

A guy I know, tried to send $30k worth of BTC yesterday on lightning network. He was ecstatic about his low fees! Only $3, he reveled in the brilliance of segwit, laughing at BCH.

Then come 24 hours later the transaction still had 0 confirmations. Now he realizes he will probably have to wait another 48 hours until it is returned to him to send it on the normal BTC network with a higher fee.

I had one pending  and it's been 12 hours you cannot trust a site that gives you a lower fee options because it will takes a lot of time to confirmed, the only option if you want to see your transactions confirming fast is the high fee

The reason it is taking long is because miners are switching from cash to btc to cash to btc. (since btc cant reduce difficulty, the overall network will slow down) If we get 3 coins in November it will be even worse as miners have more choice to jump.  

Lightning is dead in the short and medium term because your money will be stuck for days trying to get on chain and off.   no downwards difficulty readjustment

[tekmobile]

A guy I know, tried to send $30k worth of BTC yesterday on lightning network. He was ecstatic about his low fees! Only $3, he reveled in the brilliance of segwit, laughing at BCH.

Then come 24 hours later the transaction still had 0 confirmations. Now he realizes he will probably have to wait another 48 hours until it is returned to him to send it on the normal BTC network with a higher fee.

I had one pending  and it's been 12 hours you cannot trust a site that gives you a lower fee options because it will takes a lot of time to confirmed, the only option if you want to see your transactions confirming fast is the high fee

The reason it is taking long is because miners are switching from cash to btc to cash to btc. (since btc cant reduce difficulty, the overall network will slow down) If we get 3 coins in November it will be even worse as miners have more choice to jump.  

Lightning is dead in the short and medium term because your money will be stuck for days trying to get on chain and off.   no downwards difficulty readjustment

BTC does have a downward adjustment and is due to drop around 40% essentially averaging normal times with the miners jumping back and forth it just cannot be manipulated like the BCH one which is a strength not a weekness

If BCH carries on manipulating the difficulty like this the block reward halving will happen next year essentially halving the profitability prematurely while at the same time flooding the network with coins causing hyper inflation and a reduced value

[mistercashking]

man I still have bitcoincash on paper wallets I need to sweep. I should get on that asap.

[sappi13]

Guys suggest some mining Equipments?

[winding-coils]

If BCH carries on manipulating the difficulty like this the block reward halving will happen next year essentially halving the profitability prematurely while at the same time flooding the network with coins causing hyper inflation and a reduced value

Sounds like FUD?

We shall see 

Antminer L3+ would have been a great investment at the beginning of the year, now I would stay away until someone acid etches that ASIC BM chip and we can design an ASIC to compete with Bitmain.  Takers?

[Mrpumperitis]

I see absolutely no benefit to segwit at all, and not even one person has come forward to tell us , we are wrong and the reasons why we should embrace segwit over bitcoin cash  

You must be mentally ill or paid to think something as ridiculous as that.

Source code: https://github.com/fyookball/electrum

Who's the developer of that? Seems shady.

Coincidence Dash seeing nice gains alongside BCC? Check out who is featured on this guest-list.

A scam coin getting pumped along BCC? How surprising.

lauda, you talk so much shit, its unreal, you mislead and lie, im sure i know you from another name in the past here...and i hated you then aswell.
You should get out of crypto and stick to cats.

My point highlighted above , again its true, instead of decent conversation on pros-and cons...i get shit, dumb, crap one liners from pathetic stupid chart watching loser trolls.

as for your instamined dash crap, and same with you tek , that shitty monero ..has it even got a wallet yet lol...
go troll your fake-private coins.. on some nooby forum where people are unaware of the long-con.

hi pumpy nice to see you again.
so you are con segwit? 
i wonder since you are always very well informed did you see a secure bch wallet yet ?

no lauda/roselee, its not nice to see you, you have always been a twisted mental person,  ..please dont speak to me or quote me.

[tekmobile]

If BCH carries on manipulating the difficulty like this the block reward halving will happen next year essentially halving the profitability prematurely while at the same time flooding the network with coins causing hyper inflation and a reduced value

Sounds like FUD?

We shall see 

Antminer L3+ would have been a great investment at the beginning of the year, now I would stay away until someone acid etches that ASIC BM chip and we can design an ASIC to compete with Bitmain.  Takers?

Not really more fact.

At the current rate you are mining 2016 blocksets in 2-3 days instead of 14 days essentially 4-5 times faster with the next halving being 610000 blocks that means you have 146386 blocks left and at we will call it 2.5 mins a block that means the halving will happen in 365965 mins or around 254 days which will be Monday, 7th May 2018 (give or take a month or 2) the miners will earn 6.25 per block.

At current values the BCH chain needs to be running at around 6% of BTC to remain profitable after that date it will need to run at 3% just to remain profitable for the miners unless the value closes on the BTC value if it drops further behind then you are looking at needing to run under 3% possible down to 1% and during this time the BCH market is being flooded with coins that have the possibility to be sold faster than buyers essentially driving down the price.

[Mrpumperitis]

^ tek, you maybe right, but..
why is there no huge dump if thats real?
why are the big bch wallets getting bigger?

i see it as part of the plan to get rid of weak hands.

[winding-coils]

Too many "ifs" "unless" "we will call it" far too dynamic to just sideline call it.  Lots of cogs and wheels we don't see... best of luck.  

[tekmobile]

^ tek, you maybe right, but..
why is there no huge dump if thats real?
why are the big bch wallets getting bigger?

i see it as part of the plan to get rid of weak hands.

I said possibility what most likely will happen is if it gets to the point where the miners decide it will no longer be profitable they will slowly sell what they have if they just dumped it all now it would crash the market that would be a insane thing to do when you can slowly let it bleed in maximising on your earnings.

There are many possibilities that can happen this is just one and if the miners have to keep manipulating the difficulty as they are now this is the one that will most likely play out.

You have already witnessed BCH being massively more profitable than BTC and just took around 40% of hashing power that the difficulty adjustment will be correcting for but when BTC is massively more profitable BCH pretty much dies as all miners leave yea its to game the difficulty but you can only do this for so long.

Plus if the difficulty has to keep dropping to be profitable and its still being gamed that will speed up block creation times even further and if that does happen and get so fast you may even see the next halving to 3.125 before next year is out

The miners are essentially bleeding this coin dry

[tekmobile]

Too many "ifs" "unless" "we will call it" far too dynamic to just sideline call it.  Lots of cogs and wheels we don't see... best of luck.  

Thats because we don't know the future just what can happen if this "winning formula" the miners are currently (ab)using continues
If they stop doing this then the miners will leave and you have to wait for the normal adjustment but this will still be unprofitable so I see this happening for the foreseeable future.

[winding-coils]

Too many "ifs" "unless" "we will call it" far too dynamic to just sideline call it.  Lots of cogs and wheels we don't see... best of luck.  

Thats because we don't know the future just what can happen if this "winning formula" the miners are currently (ab)using continues
If they stop doing this then the miners will leave and you have to wait for the normal adjustment but this will still be unprofitable so I see this happening for the foreseeable future.

Your yearlong forecast omits the November fork. A lot of things are about to change, nobody knows for sure but you can bet your a** that those who have a clue have positioned themselves accordingly.