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

[digaran]

From one beggar to all of you beggars, I was just trying to open Bitcoincash.org to see a 403 forbidden page, why did you block my country from accessing the real decentralized Bitcoin? what decentralized currency forbids people from visiting their site?
Where is emperor Wu? I need to beg him, don't sell yourself to US government yet, where is Satoshi? I need to beg him, why did you let these CIA agents kill you?

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[esbrave789]

Currently standing at $ 1,500 or more steadily, with the expansion of the market value of bitcoin, I would like BCH to 3000 US dollars to stop, because behind DASH, Ethereum is chasing it

[2012]

From one beggar to all of you beggars, I was just trying to open Bitcoincash.org to see a 403 forbidden page, why did you block my country from accessing the real decentralized Bitcoin? what decentralized currency forbids people from visiting their site?
Where is emperor Wu? I need to beg him, don't sell yourself to US government yet, where is Satoshi? I need to beg him, why did you let these CIA agents kill you?

You can VPN to get access to that website I have no problem to access there. Maybe there was some kind of hosting problem that could be reason of that error.

[bones261]

     After watching this video:
https://www.youtube.com/watch?v=5SJm2ep3X_M&feature=youtu.be
I 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?

If a 1MB block takes 30 seconds to verify and validate, with the current code, wouldn't a 1GB block take 50 minutes to verify? Or is it not linear like that? I don't know, 1 block with transactions in it followed by 5 empty blocks seems inefficient. However, it appears the BCH team is working on this bottleneck, so why are we debating about my original concerns? The concern is no longer valid.

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.

Perhaps $5/year is trifling to you, but to a minnow like me who constantly consults many information sight, it starts to add up. This would be even more of a burden to the millions of unbanked people Craig Wright wants to help. Also, I suspect many sights would have alternate ways to monetize. I would find it particular irritating to have to watch a 30 second ad or have the web page try to make my computer mine Monero for them. (something which my AV blocks, thank god.)

[tekmobile]

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.

Check out this block! 2MB, 1096 txs!!

That's nothing to boast about Bitcoin averages over 2000 transactions in a 1MB block so this block has to have been bloated by some huge transactions by 400%

Is bitpay active on BCH yet because they bloat transactions by huge amounts by putting information in the OP_RETURN probably to get around the transaction malleability bug that using segwit fixes

[TheMuppet]

Sadly Bitcoin is broken.

It's basically unusable as a peer to peer platform which was the whole damn point.

I tried to transfer $600 of BTC and still unconfirmed.

BTC's utility is wrecked.

[bones261]

Sadly Bitcoin is broken.

It's basically unusable as a peer to peer platform which was the whole damn point.

I tried to transfer $600 of BTC and still unconfirmed.

BTC's utility is wrecked.

Yes, the current rate to ensure a 1 input 1 output segwit tx goes through quickly is $10.00. Maybe, if your moving around 1000s of dollars worth, that is a deal; but for smaller transactions, that's a ripoff.

[tekmobile]

Sadly Bitcoin is broken.

It's basically unusable as a peer to peer platform which was the whole damn point.

I tried to transfer $600 of BTC and still unconfirmed.

BTC's utility is wrecked.

And how do you know BCH won't have similar issues once blocks get full ?

BTC is creating off chain solutions for tiny transactions that have no place on chain there will be a block increase eventually but right now it's about optimising the available space then increasing the required resources afterwards

How would you feel if say microsoft used this approach and didn't optimise windows for more efficient use of RAM/HDD space so your computer would require you to have a minimum of 512 GB RAM and 10 TB HDD just to start up with poor performance over just making it more efficient

[TopCat9363]

What is the best BCH ios wallet to download?

[chopter]

Proof that Bitcoin Cash might be added to Coinbase

They have api call for BCH: https://api.coinbase.com/v2/exchange-rates?currency=BCH

This will get you .json file which you can open with notepad type of software

If you try this for some other currency which is not in coinbase it isnt working!

[tekmobile]

Proof that Bitcoin Cash might be added to Coinbase

They have api call for BCH: https://api.coinbase.com/v2/exchange-rates?currency=BCH

This will get you .json file which you can open with notepad type of software

If you try this for some other currency which is not in coinbase it isnt working!

Coinbase is carrying BCH from january this is very very old news

[digaran]

From one beggar to all of you beggars, I was just trying to open Bitcoincash.org to see a 403 forbidden page, why did you block my country from accessing the real decentralized Bitcoin? what decentralized currency forbids people from visiting their site?
Where is emperor Wu? I need to beg him, don't sell yourself to US government yet, where is Satoshi? I need to beg him, why did you let these CIA agents kill you?

You can VPN to get access to that website I have no problem to access there. Maybe there was some kind of hosting problem that could be reason of that error.

What if I'd wanted to mine BCH and the whole network rejected me? (Forbidden)!!1 these beggars know how to troll with people, wasn't google drive a free 15GB storage for every body? well it's a 403 forbidden page for me, it's free for them, Bitcoin cash is also the real and good Bitcoin for them, not for every body. Bitcoin.org loaded for me with no issue.
I can VPN to get to Paypal, VPN to get to the blocked games (note, these beggars blocked games for my IP) decentralized means no body gets locked out of the *game, this blocking means some body is in charge. I might be a low life beggar, a no body, but I'm not idiot.

[Mrpumperitis]

Guys be strong, dont be shakin out here...
BCH is at bottom....
Buy & Hodl 

[worthy1]

Guys be strong, dont be shakin out here...
BCH is at bottom....
Buy & Hodl 

Agree!

it is holding strong(even slightly increasing) with BTC rises. Previously it drops heavily when BTC rises heavily but is now holding strong which is a good sign. 

[Mrpumperitis]

https://news.bitcoin.com/an-interview-with-viabtc-founder-yang-haipo/

[Mrpumperitis]

 
http://indianexpress.com/article/technology/tech-news-technology/blockchain-adds-bitcoin-cash-to-digital-wallet-for-indian-users-4987966/
Blockchain adds Bitcoin Cash to digital wallet for Indian users
Under Blockchain, customers can toggle between Bitcoin, ether and Bitcoin Cash to send and exchange funds, safely manage balances and monitor all market prices.
New users can get started with Bitcoin Cash by simply trading bitcoin or ether for Bitcoin Cash using the exchange integration. “We are thrilled to fully support Bitcoin Cash through our wallet and will continue to find ways to make interacting with digital assets even easier across all of India,” Nic Cary, President of Blockchain, said in a statement.

Limited support for Bitcoin Cash has been available since October, but customers will now have access to a full suite of options and functionality.
Customers can easily toggle between bitcoin, ether and Bitcoin Cash to send and exchange funds, safely manage balances and monitor market prices all from one central place.

With the addition of Bitcoin Cash, Blockchain is now the largest digital wallet provider for bitcoin, ether and Bitcoin Cash with over 20 million users, the company claimed. The price of bitcoin rose over 10 per cent to 1.99 million yen ($17,594) this month, coinciding with its futures debut on a major US stock exchange.

[Mrpumperitis]

A new mega wave of high demand is coming in....BCH cant be held down any longer 
sell walls will be eaten or will disapear as demand outstrips the supply and BCH goes up a few levels ($6k-$10k)
(ive saw this happen many times over the yrs,with many gd coins...its such a beautiful thing to see) 

[Floo1]

Team Bitcoin Cash has recently announced his ambitious plans for next year, and what I just read in a previous post about the Indian users say that their plans are very serious. And yet I don't really like the way the manipulation of the currency.

[hv_]

If a 1MB block takes 30 seconds to verify and validate, with the current code, wouldn't a 1GB block take 50 minutes to verify? Or is it not linear like that? I don't know, 1 block with transactions in it followed by 5 empty blocks seems inefficient. However, it appears the BCH team is working on this bottleneck, so why are we debating about my original concerns? The concern is no longer valid.

With Current Cable Bandwidth of 100 Mbits , 1 MB block can be transmitted in less than 1 second or a 750MB block transmitted in 1 minute

100Mbits/8 = 12.5 megabytes per second or 750 megabytes in 1 minute
Even 8 MB blocks are nothing at modern internet speeds.
60 Nodes can verify in 1 minute at the 12.5Mb size
In the 2nd Minute 3600 more nodes can verify
In the 3rd  Minute 12960000 more nodes can verify
or
1 Nodes can verify in 1 minute at the 750 Mb size
In the 2nd Minute 2 more nodes can verify
In the 3rd Minute 4 more nodes can verify
In the 4th Minute 16 more nodes can verify
In the 5th Minute 256 more nodes can verify
In the 6th Minute 65536 more nodes can verify  

*Neither Bitcoin has over 20000 Full Nodes at the present time*


Once the normal is 1 Gbps
1 Gbps/8 = 125 megabytes per second or  7.5 gigabyte block in 1 minute

Once the normal is 10 Gbps
10 Gbps/8 = 1.25 gigabytes per second or  75 gigabyte block in 1 minute

Once the normal is 100 Gbs
100 Gbs/8 =12.5 Gigabytes per second or 750 gigabyte block in 1 minute


╥Aztek

Thx - you know that the biggest fear you might have after posting this truth is get another trust-level decoration by blocksteam buddies.

 

[Mrpumperitis]

 BTCPOP‏ @BTCPOPCO

Full rewriting of BTCPOP will be done in Q1 2018.
We'll offer all features for Bitcoin Cash and also Trading pairs dominated by Bitcoin Cash on the Exchange.