bones261
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December 16, 2017, 11:17:20 PM |
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I have a question on Bitcoin cash. Bitcoin has good amount of hash rate what if some of them planned a 51% attack on Bitcoin cash? What would happen to Bitcoin cash? Is this some of kind of a serious issue to worry about. I'm thinking this might be serious but interested to know what some experts say.
Yes, there is the capability of doing a 51% attack on Bitcoin Cash with the current available hash for SHA-256D. However, the person most likely to be able to pull that off at the moment is Jihan Wu. Since he is a big supporter of Bitcoin Cash, there is probably a bigger chance that I will win the jackpot on Powerball 52 times in a row.
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Mrpumperitis
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December 17, 2017, 12:39:33 AM |
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BCH is about to...
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Technically Bitcoin is a fork and Bitcoin Cash is the original blockchain.When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.- NIST
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jztxeno
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December 17, 2017, 02:45:53 AM |
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BCH is about to... Other way around
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snowfu199
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December 17, 2017, 03:18:38 AM |
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BCH is undervalued a lot right now.
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Mrpumperitis
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December 17, 2017, 04:51:34 AM |
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BCH is undervalued a lot right now.
usual whale games, supress the gd coin, (shake out the weak at low prices)...pump a few other coins(lure in the weak at high prices) then....BAM...other coins dump and all the profits go into buy cheap BCH
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Technically Bitcoin is a fork and Bitcoin Cash is the original blockchain.When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.- NIST
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snowfu199
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December 17, 2017, 05:26:22 AM |
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BCH is undervalued a lot right now.
usual whale games, supress the gd coin, (shake out the weak at low prices)...pump a few other coins(lure in the weak at high prices) then....BAM...other coins dump and all the profits go into buy cheap BCH it seems you are right. so the best way is just hold BCH for long.
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snowfu199
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December 17, 2017, 08:07:42 AM |
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Everycoins below 1$ skyrocketing , ADa Tron Xvg bts .... BCH is too expensive to be pumped
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Mrpumperitis
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December 17, 2017, 08:11:52 AM |
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Everycoins below 1$ skyrocketing , ADa Tron Xvg bts .... BCH is too expensive to be pumped refer back to my whale games post lol
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Technically Bitcoin is a fork and Bitcoin Cash is the original blockchain.When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.- NIST
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Mrpumperitis
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December 17, 2017, 08:53:52 AM |
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This video was recommended to me by a friend...im glad i watched it.. https://www.youtube.com/watch?v=XCVaabu3J04Decentralized Truth aantonop Published on 16 Dec 2017 In this talk, Andreas explores the confusion and instinctive disbelief from newcomers about how open, decentralized cryptocurrencies can scale and grow in value without the finality of approval from authorities. old skool andreas, excellent speech.
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Technically Bitcoin is a fork and Bitcoin Cash is the original blockchain.When the hard fork occurred, people had access to the same amount of coins on Bitcoin and Bitcoin Cash.- NIST
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Bitbobb
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December 17, 2017, 10:11:26 AM |
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More than a contender for the name since only coin with the function that is behind the name. And similarly core coin should not have the word in even the same sentence since it is material misrepresentation, misleading and therefore fraudulent in nature because it is in name only.
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tomkat
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December 17, 2017, 10:19:44 AM |
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Everycoins below 1$ skyrocketing , ADa Tron Xvg bts .... BCH is too expensive to be pumped BTC is 10 times more expensive than BCH and is pumped like crazy, so apparently the price isn't that important for pumpers Since BTC's utility is now degraded, its survival seems to depend solely on high price and high fees which keep attracting miners.
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Bitbobb
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December 17, 2017, 10:25:03 AM |
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Everycoins below 1$ skyrocketing , ADa Tron Xvg bts .... BCH is too expensive to be pumped BTC is 10 times more expensive than BCH and is pumped like crazy, so apparently the price isn't that important for pumpers Since BTC's utility is now degraded, its survival seems to depend solely on high price and high fees which keep attracting miners.
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Victorio
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December 17, 2017, 10:54:56 AM |
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Yes, there is the capability of doing a 51% attack on Bitcoin Cash with the current available hash for SHA-256D. However, the person most likely to be able to pull that off at the moment is Jihan Wu. Since he is a big supporter of Bitcoin Cash, there is probably a bigger chance that I will win the jackpot on Powerball 52 times in a row.
I am more concerned about the backdoor most recent Antminers have. I also discard the possibility of a Bitcoin Cash 51% attack (no interest of the founding party to hurt the business), still can imagine an attempt to attack the Bitcoin chain - pools affiliated to Bitmain have 48-55% of total hashrate on average. If the Antbleed backdoor is activated, Bitmain can switch off selectively a large portion of the SHA256D network and the online miners will have leverage to perform a 51% attack.
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standards
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December 17, 2017, 12:03:52 PM |
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Everycoins below 1$ skyrocketing , ADa Tron Xvg bts .... BCH is too expensive to be pumped BTC is 10 times more expensive than BCH and is pumped like crazy, so apparently the price isn't that important for pumpers Since BTC's utility is now degraded, its survival seems to depend solely on high price and high fees which keep attracting miners. BTC is approaching 20k mark. If it can stand steadily at that price, more growth is predictable.
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hornetsnest
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December 17, 2017, 02:31:55 PM Last edit: June 20, 2020, 08:27:15 PM by hornetsnest |
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BTC is approaching 20k mark. If it can stand steadily at that price, more growth is predictable.
Nope.It's going to go back to about 10k and lower and sit there for long time,maybe years until peeps who get burned or lose patience dump at a loss.This whole climb is only an institutional whale pump and nothing else.
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hardalisas
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December 17, 2017, 02:54:27 PM |
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BTC is approaching 20k mark. If it can stand steadily at that price, more growth is predictable.
100% I hope it will surge again soon. It is really a hard time for me to hold bitcoin still.
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jbreher
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lose: unfind ... loose: untight
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December 17, 2017, 03:23:47 PM |
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Bitcoin Cash is not going to have a lot of full nodes if things go their way. In order to scale anywhere close to Visa, on chain, as appears to be their goal, a enterprise would need access to equipment capable of storing at least 56 TB of data per year. Probably at least quadruple that, since you want to properly index the data and have proper back ups. A casual user would need to run an SPV client.
For the umpteenth time - Bitcoin Cash has no reason to support Visa-scale transaction volume until such time as demand for transactions reaches Visa scale (is that a tautology?). If we somehow hit that next year, I'll be more than happy to store 56 TB of data that year. Of course, even in the most wildly optimistic scenario, Visa-scale demand is still several years off. Perhaps you need to discuss this with Craig Wright on Twitter then. It appears nChain is working hard to bring this capacity to reality in 2018, needed or not. Capacity is not consumption. After watching this video: https://www.youtube.com/watch?v=5SJm2ep3X_M&feature=youtu.beI have come to the conclusion that on-chain scaling is indeed feasible. My previous objections were that it takes pools too long to verify transactions. Therefore, 1GB blocks would result in many empty blocks being mined. I see no scenario where that would be a consequence. Can you explain? For that matter, how does one quantify 'too many empty blocks'? As long as all transactions are processed with reasonable alacrity, what does the block fullness matter? Currently, there is a bottleneck in the way nodes need to verify transaction included in the previous block before they start including transactions in the new block they are working on. This is why empty blocks are frequently mined if they arrive within about 30 seconds of the previous block. 1GB blocks would compound this bottleneck 1000x. However, nChain is working on ways to relieve the bottleneck. Therefore, my objection would be thwarted. Again, I fail to see why this is a problem. I actually had a significant discussion about a year ago with the author of the leading independent mining SW about this very issue. Though the motivating factor was the nonsense about nonlinear hash time for aberrant transactions. Yes, there is a significant opportunity to improve the threading model within leading Bitcoin clients. However, I don't see how your reply addresses my question. As long as all transactions are processed with reasonable alacrity, what does the block fullness matter? However, I still have misgivings about 1 GB blocks since this would require a node to have the storage capacity of over 50tb per year.
Other than to repeat that we will not consume that much storage until there is actual demand for it, I would like to point out the 50 TB of storage -- today -- costs less than 0.1 BTC (~$1650 USD at standard retail). At this time, I believe this would cause a barrier to entry for small start ups that require a full node be run. (New exchanges, information services, mining pools etc.)
If a startup can't lose 0.1 BTC in the noise of its annual CapEx budget, it is likely to be a non-entity anyhow. According to Craig Wright, the initial setup would be $20,000. If I wanted to start a block explorer or a sight like fork.lol, that's quite an outlay, especially since it extremely difficult to be able monetize such an informational sight, to make up the costs. I enjoy these information sights and don't deem them "non-entities." I have heard Craig Wright speak of the $20K figure. But I have not heard him speak of it as a minimum viable investment - merely exemplary. More importantly, $20K (I note that this is a depreciating asset with a useful life exceeding one year) is a drop in the bucket for any real business. Crippling Bitcoin in order to save paying a $5/year subscription to access fork.lol's data is the wrong decision.
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Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.
I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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*MrPiP*
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December 17, 2017, 03:51:23 PM |
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Yes, there is the capability of doing a 51% attack on Bitcoin Cash with the current available hash for SHA-256D. However, the person most likely to be able to pull that off at the moment is Jihan Wu. Since he is a big supporter of Bitcoin Cash, there is probably a bigger chance that I will win the jackpot on Powerball 52 times in a row.
I am more concerned about the backdoor most recent Antminers have. I also discard the possibility of a Bitcoin Cash 51% attack (no interest of the founding party to hurt the business), still can imagine an attempt to attack the Bitcoin chain - pools affiliated to Bitmain have 48-55% of total hashrate on average. If the Antbleed backdoor is activated, Bitmain can switch off selectively a large portion of the SHA256D network and the online miners will have leverage to perform a 51% attack. With 51% of net hashrate it will be still very difficult to attack Bitcoin network. You need much more, ideally ~80-90% to solve a lot of blocks in a row.
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