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

[tekmobile]

Bitcoin tops out at $5k and dips under $3k  and crickets from the SegWitters

BCC hanging out around $450-550  

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

You will find it's more likely Jihan and co are against segwit and lightning taking fees away from the miners by keeping it all onchain they collect everything where with lighting the nodes get a very small cut of the off chain fee that could have been onchain and in the miners pockets

Bitmain etc are a for profit company their only goal is to maximise profits

How many companies do you know that think of ways they can reduce profits ?

I think it's a hoot that he is now financing testing to see if 1 GB blocks are feasible. https://twitter.com/JihanWu/status/904184380083519488
Forget the raspberry pi to run a node, you couldn't even run a node on a very high end gaming rig with those kinds of blocks. I think Wu even had an interview recently about this. He claims that IBM offers a server about the size of a brief case that runs the node, or something like that. I wonder how much that would set someone back if they wanted to run a node?

Maybe try filling a 50-100Kb block first because right now that's proving difficult

[mindrust]

Bitcoin tops out at $5k and dips under $3k  and crickets from the SegWitters

BCC hanging out around $450-550  

The theory that miners don't want low fees is really interesting considering we have Jihan, Unnamed, Roger etc etc all begging (have been) for low fees and transaction times all of which are miners and all of which support the chain which supports low fees.... care to elaborate on that claim?

You will find it's more likely Jihan and co are against segwit and lightning taking fees away from the miners by keeping it all onchain they collect everything where with lighting the nodes get a very small cut of the off chain fee that could have been onchain and in the miners pockets

Bitmain etc are a for profit company their only goal is to maximise profits

How many companies do you know that think of ways they can reduce profits ?

I think it's a hoot that he is now financing testing to see if 1 GB blocks are feasible. https://twitter.com/JihanWu/status/904184380083519488
Forget the raspberry pi to run a node, you couldn't even run a node on a very high end gaming rig with those kinds of blocks. I think Wu even had an interview recently about this. He claims that IBM offers a server about the size of a brief case that runs the node, or something like that. I wonder how much that would set someone back if they wanted to run a node?

He is completely insane. (Jihan ofc, who else)

Now, if he makes an altcoin with 1gb blocks that's for sure not going to be named as bitcoin. It will more likely to be "paypal-coin cash"

If only a handful of nodes will be processing our transactions, why bother? Just use your credit card instead.

I hope every bitcoin user now understands why big blocks are stupid.

[johnnarmst]

Vulable profits are gained.Thanks to Bitcoin.

[winding-coils]

Let's humor this "profits bad" premise that is being suggested as though Jihan is some bad guy because his business exists to make profits... (isn't that the sole purpose of a company to exist in the free market?)

Now, ask yourself who funds Core?  Where is that money come from and why do these entities pass the litmus test of not being ridiculed by you same individuals?

Now ask yourself of those who seek profits which ones are doing so at the expense of those who use this system vs those who make the case to improve the system in efforts to ease costs to users? 

[winding-coils]

BCC fails to "crash" and the SegWitters come in hard core ^^ lol it's like clockwork

[HostFat]

Webmoney has added support to Bitcoin Cash: https://wmh.wmtransfer.com/

[MartinGandhiKennedy]

Fear.

[estenity]

Fear.

not allowed if you engaged only an amount that you can afford to lose (permanently recommended).

[johnsmithx]

Let's humor this "profits bad" premise that is being suggested as though Jihan is some bad guy because his business exists to make profits... (isn't that the sole purpose of a company to exist in the free market?)

Not the sole purpose. It's not really a purpose at all, rather a requirement (and that's only because the state wants taxes). Various companies have various purposes for their existence, one of which might be making profit.

[winding-coils]

So now you're making a case for Jihan being a philanthropist? I'm really confused now  

BCC still hovering around $550 on cmc (for those of you who prefer mkt average and don't care for actual exchange market value)

[winding-coils]

Will we see a pump, decline, or no change once the difficulty adjustment kicks in?

[MartinGandhiKennedy]

This is fun: every post Satoshi Nakamoto made in Bitcointalk you can just look at his profile

https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=520

[serby10101010001100010]

Anyone got new news on China ban thing?

There you go "The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because the information is private." "OKCoin, BTC China and Huobi, the country’s three biggest bitcoin exchanges, said on Monday that they hadn’t received any regulatory notices concerning bans on cryptocurrency trading. All three venues reported transactions on Monday, with bitcoin rising 6.3 percent on OKCoin as of 11:56 a.m. local time."

[estenity]

This is fun: every post Satoshi Nakamoto made in Bitcointalk you can just look at his profile

https://bitcointalk.org/index.php?action=profile;u=3;sa=showPosts;start=520

thank you MGK, historical.

[estenity]

Anyone got new news on China ban thing?

There you go "The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because the information is private." "OKCoin, BTC China and Huobi, the country’s three biggest bitcoin exchanges, said on Monday that they hadn’t received any regulatory notices concerning bans on cryptocurrency trading. All three venues reported transactions on Monday, with bitcoin rising 6.3 percent on OKCoin as of 11:56 a.m. local time."

financial mess in china at the same time ??

http://www.zerohedge.com/news/2017-09-10/matter-trust-look-inside-chinas-crackdown-its-3-trillion-shadow-banking-industry

http://www.zerohedge.com/news/2017-09-10/yuan-about-tumble-after-fridays-shocking-pboc-news-here-goldmans-take

[serby10101010001100010]

Anyone got new news on China ban thing?

There you go "The ban will only apply to trading of cryptocurrencies on exchanges, according to people familiar with the matter, who asked not to be named because the information is private." "OKCoin, BTC China and Huobi, the country’s three biggest bitcoin exchanges, said on Monday that they hadn’t received any regulatory notices concerning bans on cryptocurrency trading. All three venues reported transactions on Monday, with bitcoin rising 6.3 percent on OKCoin as of 11:56 a.m. local time."

financial mess in china at the same time ??

http://www.zerohedge.com/news/2017-09-10/matter-trust-look-inside-chinas-crackdown-its-3-trillion-shadow-banking-industry

http://www.zerohedge.com/news/2017-09-10/yuan-about-tumble-after-fridays-shocking-pboc-news-here-goldmans-take

Probably "According to the Reuters reports, the trust was sued in June this year by eight investors who allege it misrepresented the risks involved in products it sold them and failed to adequately assess the guarantor’s creditworthiness."

[boraboy]

BCC/BCH 2500 by end of the year.

[IThoughtIKnewItAll]

BCC/BCH 2500 by end of the year.

2500 satoshi's ?

[MartinGandhiKennedy]

BCC/BCH 2500 by end of the year.

2500 satoshi's ?

Lol I wish. I would buy ALL OF THEM!!!!!!!!!!!!!!!!!!!!!!!!! 

[boraboy]

BCC/BCH 2500 by end of the year.

2500 satoshi's ?

Lol I wish. I would buy ALL OF THEM!!!!!!!!!!!!!!!!!!!!!!!!! 

Seriously. My brother just sold his 20 BTC at 4500 to buy the real Bitcoin known as Bitcoin Peer to Peer Cash. he may be right or wrong its a 50/50 guess.