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

[xmofuffo]

Hopefully Bitcoin Cash will be used more as the tx fees are way way lower.

BTC fees now are a joke, its like blackmailing. Transfers being denied, or taken hostage many many hours on the blockchain, punnishing users for paying too little fees. Ya right, very decentralized, where is the competition taking my lower fees? Oh yaeh, its a cartel of pools, very decentralized yeah sure. We went from fees was nothing, a few satoshi to now, 50K+ satoshi and fee still too low? Dang one can get many alt coins for these amounts. This is blackmailing in my opinion.  BTC is not cheap transfers nor is it fast. Banks are cheaper and faster now lol. Might be cheaper to buy altcoins for transfers even with exchange fees. BTC biting the hand that feeds them in my opinion.

Edit: Meanwhile BTC price went up millions of % but fees went up in satoshi too lol.

[serby10101010001100010]

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Bitcoin cash has not been around a couple of months it was born 1st august and the only reason it gets so much hate is because it was made to try and destroy bitcoin

Litecoin was a clone of bitcoin but gets no hate plus some other coins that use the name bitcoin that get no hate.

Bitcoin cash was created to cause confusion and to try and replace the dominant chain by bitmain this is what people take issue with not the fact it was cloned

Wasn't it created to keep the blockchain decentralized?

[serby10101010001100010]

The miners have a big say on which coin will be a main coin, bitcoin ot bitcoin cash. Thus, whichever coin has more value, will likely that they mine that coin for profitability. Bitcoin been around for years now, wherras Bitcoin Cash just a couple months, yet receive lots of attention. What if Bitcoin Cash was named differently, wouuld the story be the same? in order for bitcoin cash value continue rising, it needs mass adoption like bitcoin to have value.

Bitcoin cash has not been around a couple of months it was born 1st august and the only reason it gets so much hate is because it was made to try and destroy bitcoin

Litecoin was a clone of bitcoin but gets no hate plus some other coins that use the name bitcoin that get no hate.

Bitcoin cash was created to cause confusion and to try and replace the dominant chain by bitmain this is what people take issue with not the fact it was cloned

I disagree, well, I don't know their true motives but so far, BCH is more "original bitcoin" than BTC because BTC is/will rely on third party and is/has moved towards centralization whereas BCH is still decentralized and also with MUCH lower fees. The only problem is that people are not yet aware of this fact.

In my humble opinion, they should have even named BCH "Bitcoin" just for the hell of it! *lol* (joking)

EDIT: Bitchcoin (jk)

[serby10101010001100010]

Hopefully Bitcoin Cash will be used more as the tx fees are way way lower.

BTC fees now are a joke, its like blackmailing. Transfers being denied, or taken hostage many many hours on the blockchain, punnishing users for paying too little fees. Ya right, very decentralized, where is the competition taking my lower fees? Oh yaeh, its a cartel of pools, very decentralized yeah sure. We went from fees was nothing, a few satoshi to now, 50K+ satoshi and fee still too low? Dang one can get many alt coins for these amounts. This is blackmailing in my opinion.  BTC is not cheap transfers nor is it fast. Banks are cheaper and faster now lol. Might be cheaper to buy altcoins for transfers even with exchange fees. BTC biting the hand that feeds them in my opinion.

Edit: Meanwhile BTC price went up millions of % but fees went up in satoshi too lol.

Exactly! The fee and waiting time when I moved my BTC was ridiculous, seems that BTC is only for the rich and the miners trying to use people's ignorance as much as they can and grab all the free money they can get!

I you refer to individual miners, I highly doubt they're rich people.

[serby10101010001100010]

Nice little BCH breakout BTW, hope you guys saw this trading opportunity.

[Toden1379]

I know I did  ... but I'm still holding some which I bought waaaay up there... 

[serby10101010001100010]

Nice little BCH breakout BTW, hope you guys saw this trading opportunity.

Yes, I paniced and sold 5 minutes too soon. Lost $30 instead of profit lot more... LOL... I'm an idiot.

You're not an idiot, just need to be more patient, I admit it's easier said than done when it comes to make money, frustration lurks in....

[serby10101010001100010]

I know I did  ... but I'm still holding some which I bought waaaay up there... 

Hold it till your last fucking breath, lol

[tekmobile]

I know I did  ... but I'm still holding some which I bought waaaay up there... 

Hold it till your last fucking breath, lol

I'm sure that advise was also gold when the value was over $800 too week on week it's been on a slow decline with the odd little breakout but slowly making its way back to $300

[gromit11]

re: wild swings in hashrate--  I assume everyone has seen this article?

https://medium.com/@Mengerian/bringing-stability-to-bitcoin-cash-difficulty-adjustments-eae8def0efa4

I think it's a thoughtful and balanced perspective.

He links to Amaury's most recent post:
https://lists.linuxfoundation.org/pipermail/bitcoin-ml/2017-August/000136.html

Amaury's point, in a nutshell, is that the difficulty swings we are seeing in Bitcoin Cash are nothing (relatively) compared to the general level of uncertainty we will see in the bitcoin network over the next 3 months. The difficulty swings are an inconvenience but don't threaten the fundamental underlying stability of Bitcoin Cash. If you want to remember how crazy things can get with Bitcoin, recall what happened in 2013... https://bitcoinmagazine.com/articles/bitcoin-network-shaken-by-blockchain-fork-1363144448/

Anyways, the set of articles convinces me that (a) the difficulty swings were predicted by the Bitcoin Cash devs; (b) there are very smart people on Bitcoin Cash thinking about the difficulty problems and (c) it's nonfatal in the near term and (d) several potential ways to solve over the longer term.

[tekmobile]

re: wild swings in hashrate--  I assume everyone has seen this article?

https://medium.com/@Mengerian/bringing-stability-to-bitcoin-cash-difficulty-adjustments-eae8def0efa4

I think it's a thoughtful and balanced perspective.

He links to Amaury's most recent post:
https://lists.linuxfoundation.org/pipermail/bitcoin-ml/2017-August/000136.html

Amaury's point, in a nutshell, is that the difficulty swings we are seeing in Bitcoin Cash are nothing (relatively) compared to the general level of uncertainty we will see in the bitcoin network over the next 3 months. The difficulty swings are an inconvenience but don't threaten the fundamental underlying stability of Bitcoin Cash. If you want to remember how crazy things can get with Bitcoin, recall what happened in 2013... https://bitcoinmagazine.com/articles/bitcoin-network-shaken-by-blockchain-fork-1363144448/

Anyways, the set of articles convinces me that (a) the difficulty swings were predicted by the Bitcoin Cash devs; (b) there are very smart people on Bitcoin Cash thinking about the difficulty problems and (c) it's nonfatal in the near term and (d) several potential ways to solve over the longer term.

From reading the first post the bitcoin cash devs are working to fix the hashrate manipulation problem but would require another hard fork

[Asyifiah]

The reason why I posted so much about BCH is because it is basically an attack on Bitcoin. Needed to call out the absurdity as I see it.
In 4 hours, BCH diff will go up 4x and blocks will take hours. If you want to move your BCH coins, move them now.

[winding-coils]

http://fork.lol/pow/hashrate
I think bitcoin miners are exploiting bitcoin cash mining difficulty algorithm. There is a clear pattern in the hashrate graph.

It's known fact and was seen from day one that's the way it was programmed but the very exploit it also what will cause it's death

It's funny how those who didn't write the pseudo or code for the coin make these claims... funny how it lived for $200+ after the epic crash after the airdrop

and here it's been growing, taking the hash from segwit, but it's causing its death?

 Interesting observations.

[gromit11]

Bitcoin Cash difficulty already went way up close to 12 hours ago and hashrate dipped way down (as expected):
http://fork.lol/pow/hashrate

Currently, blocks are being mined approximately every 2 hours: https://www.blocktrail.com/BCC

What will happen next is that if there are fewer than 6 blocks mined in a 12-hour window (approximately-- see https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e for details), Bitcoin Cash will undergo an Emergency Difficulty Adjustment where the next block will then be 20% easier to mine. It will continue to do this until the difficulty is approximately proportional to that of Bitcoin (~$600/$4300), at which point each miner will decide that it's more profitable to mine Bitcoin Cash and will move hashpower there. This swing will continue to happen every 2016 blocks (which is the "normal" difficulty adjustment timeframe).

Interestingly, there is essentially no correlation between hashrate/confirmation times to Bitcoin Cash price... the most price breakout occurred while the hash rate dipped.

[winding-coils]

The reason why I posted so much about BCH is because it is basically an attack on Bitcoin. Needed to call out the absurdity as I see it.
In 4 hours, BCH diff will go up 4x and blocks will take hours. If you want to move your BCH coins, move them now.

Nobody here is moving them except into their wallets.


@tek, BCC is still above $600....   making its way to $300? Where was your FUD a few days ago when segwit was dipping into the mid $3ks?

BTC loses $1k in a day and you chose to point out a coin that is holding above $600 might go to $300?

[winding-coils]

Bitcoin Cash difficulty already went way up close to 12 hours ago and hashrate dipped way down (as expected):
http://fork.lol/pow/hashrate

Currently, blocks are being mined approximately every 2 hours: https://www.blocktrail.com/BCC

What will happen next is that if there are fewer than 6 blocks mined in a 12-hour window (approximately-- see https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e for details), Bitcoin Cash will undergo an Emergency Difficulty Adjustment where the next block will then be 20% easier to mine. It will continue to do this until the difficulty is approximately proportional to that of Bitcoin (~$600/$4300), at which point each miner will decide that it's more profitable to mine Bitcoin Cash and will move hashpower there. This swing will continue to happen every 2016 blocks (which is the "normal" difficulty adjustment timeframe).

Interestingly, there is essentially no correlation between hashrate/confirmation times to Bitcoin Cash price... the most price breakout occurred while the hash rate dipped.

Now that is a very good observation, the relation between hash and price and do they track together.  Keep an eye on things this is getting interesting.

bids for BCC are @ $631 at time of post, while the BTC chain is more profitable and hash has moved to the BTC chain

[gromit11]

I think that perhaps the most interesting observation about the Bitcoin Cash blocks that are being mined is that they are not entirely being found by "Unknown" and "ViaBTC"-- those pools were the ones who stayed with Bitcoin Cash through thick and thin.

If you look here:
https://www.blocktrail.com/BCC

Antpool, BTC.top and BTC.com are all in the game. This implies that all of them are devoting at least some percentage of their hashpower to Bitcoin Cash and they all have skin in the game now.

It will be very interesting to see whether they all stay in the game. However, one thing that's clear (and that may explain the breakout, at least partially) is that the success of Bitcoin Cash is no longer entirely dependent on the Unknown and ViaBTC miners-- it is becoming more mainstream.

[TheQuin]

Bitcoin Cash difficulty already went way up close to 12 hours ago and hashrate dipped way down (as expected):
http://fork.lol/pow/hashrate

Currently, blocks are being mined approximately every 2 hours: https://www.blocktrail.com/BCC

What will happen next is that if there are fewer than 6 blocks mined in a 12-hour window (approximately-- see https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e for details), Bitcoin Cash will undergo an Emergency Difficulty Adjustment where the next block will then be 20% easier to mine. It will continue to do this until the difficulty is approximately proportional to that of Bitcoin (~$600/$4300), at which point each miner will decide that it's more profitable to mine Bitcoin Cash and will move hashpower there. This swing will continue to happen every 2016 blocks (which is the "normal" difficulty adjustment timeframe).

Interestingly, there is essentially no correlation between hashrate/confirmation times to Bitcoin Cash price... the most price breakout occurred while the hash rate dipped.

Now that is a very good observation, the relation between hash and price and do they track together.  Keep an eye on things this is getting interesting.

bids for BCC are @ $631 at time of post, while the BTC chain is more profitable and hash has moved to the BTC chain

The correlation between hashrate/confirmation times to Bitcoin Cash price is that when the blockchain stops moving so nobody can move coins to the exchanges to sell them then it is a good time for a pump.

[serby10101010001100010]

I know I did  ... but I'm still holding some which I bought waaaay up there... 

Hold it till your last fucking breath, lol

I'm sure that advise was also gold when the value was over $800 too week on week it's been on a slow decline with the odd little breakout but slowly making its way back to $300

Sticking to the plan is an essential part of the strategy, never back down.

[serby10101010001100010]

Bitcoin Cash difficulty already went way up close to 12 hours ago and hashrate dipped way down (as expected):
http://fork.lol/pow/hashrate

Currently, blocks are being mined approximately every 2 hours: https://www.blocktrail.com/BCC

What will happen next is that if there are fewer than 6 blocks mined in a 12-hour window (approximately-- see https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjustments-2ec589099a8e for details), Bitcoin Cash will undergo an Emergency Difficulty Adjustment where the next block will then be 20% easier to mine. It will continue to do this until the difficulty is approximately proportional to that of Bitcoin (~$600/$4300), at which point each miner will decide that it's more profitable to mine Bitcoin Cash and will move hashpower there. This swing will continue to happen every 2016 blocks (which is the "normal" difficulty adjustment timeframe).

Interestingly, there is essentially no correlation between hashrate/confirmation times to Bitcoin Cash price... the most price breakout occurred while the hash rate dipped.

Now that is a very good observation, the relation between hash and price and do they track together.  Keep an eye on things this is getting interesting.

bids for BCC are @ $631 at time of post, while the BTC chain is more profitable and hash has moved to the BTC chain

The correlation between hashrate/confirmation times to Bitcoin Cash price is that when the blockchain stops moving so nobody can move coins to the exchanges to sell them then it is a good time for a pump.

what about traders? aren't a part of the equation as well?