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

[tekmobile]

Bitcoincash is definitly bullshit.The thing i dont understand why all of those people follow this fake coin. Will always be new forks?

From what I've read there are users complaining about the new difficulty adjust hard fork too so there could be trouble going forward with that also plus the miners seem to really like the EDA I don't think this next hard fork will be going as smoothly as expected

[1713540856]

1713540856

[tekmobile]

Bitcoincash is definitly bullshit.The thing i dont understand why all of those people follow this fake coin. Will always be new forks?

From what I've read there are users complaining about the new difficulty adjust hard fork too so there could be trouble going forward with that also plus the miners seem to really like the EDA I don't think this next hard fork will be going as smoothly as expected

Clairify for the confused, it is segshitcoin that is forking in Oct & Nov and not Bitcoin Cash.

Bitcoin Cash care little what segshit or it upcoming forks do.


╥Aztek

BitcoinCash is hard forking in November too

https://news.bitcoin.com/bitcoin-cash-community-preps-for-a-hard-fork-slated-for-november-13/

And from reading comments around twitter, reddit etc I don't think it's going to go as smoothly as expected

[MarketMagic]

Hello everyone!

I have been following this thread a long while now. I have a question which makes me very very very confused. The John McAfee prediction of $500000 per coin, did he refer to "BTC (Bitcoin)" or "BCH/BCC (Bitcoin Cash)"? Can someone please shed light on this? I see that some people keep asking him in his Twitter but he does not reply to those questions at all, which is very strange.

Please, I am not asking for speculation or a flame war coin vs coin, I just need to know specifically which coin John was talking about? Because he said bitcoin but also he said he is with Jihan Wu... so that's why I'm confused. WHICH ONE OF THESE TWO COINS DID HE TALK ABOUT?

Greatly appreciate some insight into this issue,

Thank you.

Don't get confused that is prediction is only about Bitcoin the original one BCH has fate just to stay as an altcoin so nothing more than that. BCH is just using the name of Bitcoin without that this coin has no value you will see in future this will lose more value and Bitcoin will remain in top position like it is.

Yes, McAfee was of course talking about bitcoin (BTC).  In the article below, at one point he uses the "BC' abbreviation for bitcoin.  "BC" does not mean Bitcoin Cash.

https://www.cryptocoinsnews.com/john-mcafee-claims-bitcoin-will-worth-500000-three-years/

He clarifies the statement in the comments. Smart money is with Jihan or something to that effect. Valiant effort though.

Exactly. That is the part I don't understand. Why does he say "BTC (Bitcoin)" then he says smart money is with Jihan?!? Jihan is obviously with "BCH (Bitcoin Cash)" and not "BTC". What the hell is going on?

John first said bitcoin would be valued at $500,000 in future

But in the follow up tweets he changed it to bch when suddenly he claimed to be friends with Johan Wu and supported his fork,and he meant that the bch would be the coin to be worth $ 500,000

You can check it out here:-
https://cointelegraph.com/news/mcafee-stakes-his-name-10-mln-on-bitcoin-split

He could also be referring to the 2x split Jihan Wu is behind.Jihan Wu has large bitcoin and litecoin operation so ask yourself where really his money is invested.I admit it is very confusing situation but of course it could be by design in order to just have coup to oust core developers so they control the whole thing.Big blocks may just be a distraction or non sequiter while not giving shit about either bigger blocks or segwit in real case only to create mass chaos with engineered solution to suit their narrative and ROI potentials into future.

Also confusing Ver is supporting 2x while hyping bitcoin cash as real bitcoin.Many nefarious actors playing high stake games.

Also with BCH forking now to fix EDA this can affect its probability to become longest chain by de facto.

[tekmobile]

BitcoinCash is hard forking in November too

https://news.bitcoin.com/bitcoin-cash-community-preps-for-a-hard-fork-slated-for-november-13/

And from reading comments around twitter, reddit etc I don't think it's going to go as smoothly as expected

10 hour old article , OK.

But lets be clear that is a fork to modify the difficulty adjustment , so many of you have been whining about.

It is not a newly created coin networks , like segshitcoin is going to have.


╥Aztek

Yes but looking over twitter and reddit comments it may not go as smoothly as expected a lot of users are angry about this and the miners seem to like the old EDA so "could" create a community split like ETH & ETC this was born from differences over an official upgrade

[Silenox]

How are the transactions inside the blocks? A while ago the blocks contained few transactions, wich shows little use.

[bones261]

Since when is the cryptocurrency world about being held accountable to anyone? That is not the cyberpunk way. Just code and release. The more disruptive it is, the better. Also, the arbitration process you are so fond of usually involves a third party. Who? The government? Some outfit that is employed by the other party? Judge Judy?   If someone steals from you, the cyberpunk way is to find the perpetrator and hack them. Don't have the expertise to do that? Then find an ally who will help you out and pray they don't screw you up more in the process.

Answer the question!

WHO DO YOU SUE WHEN LN/SEGWIT FUCKS UP?


╥Aztek

It's obvious that you just don't get it. It's called vigilante justice via code. That is the cyberpunk way. The only way to gain power in the cryptocurrency world is to learn how to code or at least know how to properly implement any tools provided by others, at maximum disruptive effect. Otherwise, you are just chattel at the mercy of the powers that be.

If you really felt that way , you would be COMPLETELY OPPOSED TO OFFCHAIN Transactions ,

Also the only true power is granted by the code, with a PoW based coin, goes to the miners that can afford the warehouses full of ASICS.

If you really want offchain , use paypal.

You never did answer the question.


╥Aztek

All LN is going to be is a smart contract implemented off chain. That is not necessarily "centralized." A program or service does not need to be only implemented on a blockchain to be decentralized.
Since LN is going to be a smart contract, it's code will basically be the "law" for any transactions implemented on it. If the code if fucked up, then the party who distributed the software "could" be held liable, and you can sue them. However, I am sure there is going to be some type of EULA attached to it to basically make it a "use at your own risk" proposition.
If you use the LN through a third party, and they somehow fuck up the implementation with their interface, then you can try to sue them. Naturally, any third party site is going to have a TOS, that once again will effectively make it a "use at your own risk" proposition.
In other words, if you don't like LN, then don't use it. If you don't like Segwit, then don't use it. If you don't like Bitcoin Core, then don't use it. You literally have over 1000 choices of what you can use in the cryptocurrency realm alone. If you don't like any of them, just fork off, and convince others to go with you.

[Rebellious]

I think Bitcoin will survive all Forks. Its to big and well known by everybody.

[tekmobile]

How are the transactions inside the blocks? A while ago the blocks contained few transactions, wich shows little use.

There are a few more per block now than before but in the last 24h there were only 20 blocks found rather than the expected 144 and given that only 20 blocks in a 24h period were found they are only averaging around 500k a block so yea not many

[European Central Bank]

WHO DO YOU SUE WHEN LN/SEGWIT FUCKS UP?

ever notice that the lightning network has a 0.042 btc limit precisely because they don't want people to bet the farm on something relatively new? that's diligence in action.

https://medium.com/@rusty_lightning/bitcoin-lightning-faq-why-the-0-042-bitcoin-limit-2eb48b703f3

" I guarantee that early releases of lightning clients will have bugs, and people will lose money because of them"

[tiCeR]

Happy because bitcoin cash is now ranked 4 and already past Litecoin, I was initially pessimistic about the future of BCH but now everything is answered and no need to hesitate to invest Bitcoin Cash.

It's been dropping like a rock from the main pump in August. It's just a question of how long until it drops below litecoin, and then starts working its way down the list.

My condolences to all who have tried to catch the falling knife, but with the lack of a solid development team, B2X stealing BCH's thunder and cannibalizing its support BCH is going to fade into obscurity. At least be sure to get out before Coinbase and other remaining services release their coins and further waves of dumping hammer it.

Why does Coinbase hold those coins back for so long at all? Does anyone know the reason? I haven't been following that.

[tekmobile]

Happy because bitcoin cash is now ranked 4 and already past Litecoin, I was initially pessimistic about the future of BCH but now everything is answered and no need to hesitate to invest Bitcoin Cash.

It's been dropping like a rock from the main pump in August. It's just a question of how long until it drops below litecoin, and then starts working its way down the list.

My condolences to all who have tried to catch the falling knife, but with the lack of a solid development team, B2X stealing BCH's thunder and cannibalizing its support BCH is going to fade into obscurity. At least be sure to get out before Coinbase and other remaining services release their coins and further waves of dumping hammer it.

Why does Coinbase hold those coins back for so long at all? Does anyone know the reason? I haven't been following that.

Probably because they don't support this but are having to reluctantly support it due to user demand so right now there working hard on getting Segwit2x which they do support ready for when it forks first

[kuky004]

Every bifurcation feels like a scam

[Majormax]

........................
But lets be clear that is a fork to modify the difficulty adjustment , so many of you have been whining about.

It is not a newly created coin networks , like segshitcoin is going to have.


.........................

Yes but looking over twitter and reddit comments it may not go as smoothly as expected a lot of users are angry about this and the miners seem to like the old EDA so "could" create a community split like ETH & ETC this was born from differences over an official upgrade

add to that less-well-informed ppl are being confused as the term Hard Fork is being used to describe a change in code/ EDA as well as to describe a community split (the latter only discernable in hindsight). A split seems unlikely atm, surely the EDA is not that contentious ?

[tekmobile]

Yes but looking over twitter and reddit comments it may not go as smoothly as expected a lot of users are angry about this and the miners seem to like the old EDA so "could" create a community split like ETH & ETC this was born from differences over an official upgrade

You guys are always complaining the one big miner mines the majority of blocks.
Well whichever way that miner picks is the way that the network will go.

So which difficulty adjustment they prefer will be chosen.
Everyone else can just shutup unless they have a warehouse full of ASICS that can outmatch the big miner, (who has supported Bitcoin Cash from Day 1.)

ASICS Talk  &  Bullshit walks  
(The Way Satoshi intended.)

* I be more worried that segwitcoin falls into a death spiral when 2x appears and the hash is split between 3 chains. *
Whether the EDA is still in place or a new difficulty adjustment, either way Bitcoin Cash has a difficulty adjustment.
Shitwitcoin has no difficulty adjustment in place to stop a death spiral.


╥Aztek

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain  

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

[bones261]

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain  

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

Well at least they actually went through with the Bitcoin Cash fork. Classic, Xt and Unlimited never even got to germinate since no one was willing to lead the charge. I think Segwit 2X is more of a threat, because they actually have designated a particular block; so they definitely know exactly when they have to all start to charge, in a coordinated manner. However, with no replay protection, I wonder how many of these miners will actually participate in the mutiny they all keep pledging that they will, with their "signaling." We'll see how many of them actually have the balls and which will just quietly go on mining the original chain.

[tekmobile]

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain  

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

Well at least they actually went through with the Bitcoin Cash fork. Classic, Xt and Unlimited never even got to germinate since no one was willing to lead the charge. I think Segwit 2X is more of a threat, because they actually have designated a particular block; so they definitely know exactly when they have to all start to charge, in a coordinated manner. However, with no replay protection, I wonder how many of these miners will actually participate in the mutiny they all keep pledging that they will, with their "signaling." We'll see how many of them actually have the balls and which will just quietly go on mining the original chain.

I expect most to stay on the core chain with the only ones mining on B2X are the ones mining on cash now

[alevlaslo]

BCH or ETC - what to buy? BCH fell 3 times, ETC in 2, but BCH fresh, I'm afraid the entry point is not yet reached when the end of sales of a large number of coins by developers and miners.

https://forum.bits.media/index.php?/topic/55384-%D0%BF%D1%80%D0%BE%D0%B3%D0%BD%D0%BE%D0%B7%D1%8B-%D0%BA%D1%83%D1%80%D1%81%D0%BE%D0%B2-%D0%BC%D0%BE%D0%BD%D0%B5%D1%82-%D0%B8-%D0%B0%D0%BA%D1%82%D1%83%D0%B0%D0%BB%D1%8C%D0%BD%D0%BE%D1%81%D1%82%D0%B8-%D1%81%D0%B0%D0%BC%D0%B8%D1%85-%D0%BC%D0%BE%D0%BD%D0%B5%D1%82/&do=findComment&comment=946422

[European Central Bank]

BCH or ETC - what to buy? BCH fell 3 times, ETC in 2, but BCH fresh, I'm afraid the entry point is not yet reached when the end of sales of a large number of coins by developers and miners.

has etc managed to do one interesting thing since its creation? i can't find anything. i guess the only thing it has going for it is inheriting eth miners when the time comes.

and why are you considering forks instead of real coins anyway?

[classicsucks]

First of all, your puny 8-32MB blocks don't even come close to scaling to PayPal or Visa. (An off chain solution like lightning network probably would, however.) You need close to 1 GB blocks to even start to compare. Let's say you want to start up a block explorer or other information service. I doubt a $10/mo VPS is going to be enough to run a decent block explorer. Pruning the blockchain or running an SPV is fine, for personal use. However, if I want to contribute more by providing some kind of service, the start up cost is going to be huge. How are we supposed to have a decentralized economy when entry to even provide a block explorer will be prohibitive? Only mega whale oligarchs will have the means to provide us with the information services. What could go wrong?  
Also, this argument that we will have technology necessary in 10 or 20 years really doesn't fly. Do we want  Bitcoin to scale on the level of Visa and Paypal in a couple of years or do we want to wait a decade or more? Since technology is advancing, the systems Visa and Paypal will use will probably make them be able to scale even better. Your on-chain solution will be forever playing catch up and will never compete.  

Bones, do you sense the irony when a Kore supporter uses the phrase "your puny 8MB-32MB blocks"?  Forget about Visa/Paypal and their centralized nonsense. People who use cryptos understand the value of not requiring permission to pay someone and giving up their personal data in the process - this isn't for your average dumbshit consumer, and it's not ready for the whole world, conceptually or technically. But sure, let's scale up as fast as we can. Don't you think sticking with "micro-puny" 1MB blocks is a bad place to give up on this goal? As far as your VPS, you can get a dedi for $50 a month, you're saying you want to run a blockchain business and you can't afford that?  

As far as BCH being mined in China - I don't like the idea of EVERYTHING being made in China either, but you've been living in a cave if this is news to you.

Two ShitWits Enter , Only One Shitwit will Leave.
https://www.youtube.com/watch?v=pmRAiUPdRjk
╥Aztek

Nice meme. How about a joke, "two shitwits walk into a bar...".


I notice that some exchanges are freezing BTC deposits for the Bitcoin Gold drop. I still can't understand how anyone would trust BTCGPU code...

Finally, last I checked, the average BTC blocksize is 1.03MB since the Segfault deployment. Garbage.

[classicsucks]

I would worry more that the cash miners support B2X more and jump over leaving cash dead like all the other failed forks before it (classic, xt, unlimited)

The Segwit2x futures only put at at around 1.5 BTC or ~$900 so far its not looking like much of a threat but it it does succeed we still have all our coins on the other chain  

Also the miners are trying to force the EDA right now (one reduction is already guaranteed to happen)

Well at least they actually went through with the Bitcoin Cash fork. Classic, Xt and Unlimited never even got to germinate since no one was willing to lead the charge. I think Segwit 2X is more of a threat, because they actually have designated a particular block; so they definitely know exactly when they have to all start to charge, in a coordinated manner. However, with no replay protection, I wonder how many of these miners will actually participate in the mutiny they all keep pledging that they will, with their "signaling." We'll see how many of them actually have the balls and which will just quietly go on mining the original chain.

Last I heard, 2x mining signalling is at over 90%. So they'd be foolish to mine the 1x chain - that will all get orphaned on 2x chain. Have you even considered what will happen to 1x block interval with an instant 90% less hashpower?  I'm estimating it will be a block every 100 minutes, each completely full of transactions with very high fees... I don't think using a Segwit address will make much of a difference... and I don't like Garzik and his henchmen one bit... but Kore is done, fired, and I won't shed any tears about them.