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

[tomkat]

This tweet make me wonder https://twitter.com/CobraBitcoin/status/963088730641911808 if BTC change PoW algorithm and let's say all miners switch to Bitcoin Cash would it handle well with same fee 1cent? I mean is BCH network ready for such situation?

Change PoW in BTC is extremely unlikely, but if they really did it, and if miners really switched to BCH, then it would actually not change anything for BCH.
The fees depend on the block capacity, so they will remain very low unless all available space is filled with transactions.

[classicsucks]

Gentlemen - enough about PRICE, let's look at FUNDAMENTALS:

BTC doesn't work and LN can't work with a broken layer underneath it.
BTC development is a dead meme,
BTC is the target of Wall St. speculators, and has now lost its Tether price pump mechanism.
BTC has only first adopter momentum, which it loses more of each day (anyone look at the mempool or the market dominance chart lately?)

BCH works and adoption is growing more each day.
BCH development is steaming ahead.
BCH has 24x the capacity of dead BTC.
New investment will almost certainly go to the alt market looking for growth.

Watch the US Congress hearings today. Surely they will move the markets.

Really delusional. This guy seems to think he knows his stuff, must be really into crypto a while. Hmm lets see, account created February 17, 2016 - oh yeah - def been in the scene a ''looong'' time, wink wink

LOL says a noob with barely the 15 posts required to post here... welcome to my ignore list, bozo.

Tek, man, I do give you credit. You still believe the sky is red, despite the very strong evidence that it's blue. So you just keep on trolling with that LN crap, and have fun with it. If you ever find anybody doing any actual commerce on that son-of-a-crap-coin, you let me know.

[classicsucks]

A new star is born. Welcome Tiffany!

https://twitter.com/haydentiff/status/961991338668552192

 

Yeah I guess these Blockstream fanbois are getting more and more desperate to blame somebody for their failure... but they picked the wrong victim there...

Anarchapulco starts this week, so keep your powder dry... something tells me it won't be BTC that pumps.

More Blockstream engineers quitting, tek is raging extra hard this week.

This SMS BCH payment system looks quite interesting. Mpesa is a huge success in Kenya, and this could take off in a hurry.

[classicsucks]

This tweet make me wonder https://twitter.com/CobraBitcoin/status/963088730641911808 if BTC change PoW algorithm and let's say all miners switch to Bitcoin Cash would it handle well with same fee 1cent? I mean is BCH network ready for such situation?

Cobra doesn't have much credibility anymore from either side, since he spoke ill of the Blockstream team after viciously trolling the BCH community.  Changing POW would be an immediate and absolute disaster - it's simply not in the realm of possibility. The miners would switch to BCH and BTC would simply cease to exist.

[revelacaogr]

A dangerous Bitcoin & Bitcoin-Cash (BCash) Hack (that no one talks about)

https://www.youtube.com/watch?v=_cuImsvmSf4&feature=youtu.be

[hv_]

A dangerous Bitcoin & Bitcoin-Cash (BCash) Hack (that no one talks about)

https://www.youtube.com/watch?v=_cuImsvmSf4&feature=youtu.be

Thx - no this attack was already discussed on e.g. reddit/btc

I'd say, sure - this is an attac vector, but his risk calc is bit too simple.

1) Price might not be there after 50 blocks and even if you sell for 10 Mio$  -> price might tank
2) Other pools might see this before and could go into (different) action, esp Jihan's like move hashpower over and DDos, ...
3) The attacker has lost all credibility after such thing -> This will not be local to  BCH, since we know the external world does not really distinguish between different cryptos -> this falls back to the entire sector!

[Rapidement]

[bitcoinPsycho]

http://bitcoinist.com/farewell-bitcoin-cash-microsoft-chain-scaling-degrades-decentralization/


MICROSOFT: ON-CHAIN FAILS TO MEET CAPACITY NEEDS

In a blog post on Monday, Director of Program Management at Microsoft’s Identity Division Alex Simons said that layer 2 scaling solutions, which principally involve the Lightning Network, are superior to on-chain scaling.

Simons writes:

While some blockchain communities have increased on-chain transaction capacity (e.g. blocksize increases), this approach generally degrades the decentralized state of the network and cannot reach the millions of transactions per second the system would generate at world-scale.
He later continues:

To overcome these technical barriers, we are collaborating on decentralized Layer 2 protocols that run atop these public blockchains to achieve global scale, while preserving the attributes of a world class DID (decentralized identity) system

[hv_]

"MICROSOFT: ON-CHAIN FAILS TO MEET CAPACITY NEEDS"

-> 640 kB ought to be enough for anybody ...

Sure - it always depends WHO you ask...  but be careful and do not invite new middlemen (BS, MS, ...) - that's not Bitcoin.

[alyssa85]

Roger Ver is going to be rolling out Bitcoincash ATMs:

https://twitter.com/rogerkver/status/963214514392129536

I just bought 50 Bitcoin (BCH) ATM machines for a bit under half a million dollars. Thanks to our purchase the manufacturer has agreed to roll out BCH support to their existing 1000+ machines world wide!

It needs more publicity though - bitcoincash is fading out of the mainstream media coverage of crypto.

[hv_]

Despite steadily gaining mainstream popularity, cryptocurrencies like Bitcoin Cash are still a long way from mainstream acceptability. Payments processor BitPay is working towards solving that problem, first with legacy Bitcoin (BTC) and now with Bitcoin Cash (BCH).

In an interview with CoinGeek.com, BitPay CEO Stephen Pair said there are two main obstacles that hinder blockchain payments acceptance: volatility risk and technical integration. What BitPay does is it simplifies the process for merchants, while also making sure that the retailers are paid fairly.

“Our platform makes it simple for merchants to receive payments from BTC (and soon Bitcoin Cash) wallets with minimal integration work or technical knowledge about Bitcoin. And our merchants get paid exactly what they charge to their bank accounts in local currency, minus a 1% processing fee,” Pair said.



https://coingeek.com/bitpay-ceo-refined-platform-allows-simpler-seamless-bitcoin-cash-use/

[pawel7777]

Roger Ver is going to be rolling out Bitcoincash ATMs:

https://twitter.com/rogerkver/status/963214514392129536

I just bought 50 Bitcoin (BCH) ATM machines for a bit under half a million dollars. Thanks to our purchase the manufacturer has agreed to roll out BCH support to their existing 1000+ machines world wide!

It needs more publicity though - bitcoincash is fading out of the mainstream media coverage of crypto.

"I just bought 50 Bitcoin (BCH)"

It's BITCOIN CASH, not BITCOIN. He seriously needs to stop doing this.
BCH started of as a fork under different name, by their own choice. It's not Bitcoin by any definition, even if it adheres to the original Bitcoin whitepaper more than the "legacy" Bitcoin does.

I'm pretty sure RV pushes BCH=Bitcoin only because he chose to jump from BTC to BCH while still owning "Bitcoin.com" and "r/btc".

[lsd400]

http://bitcoinist.com/farewell-bitcoin-cash-microsoft-chain-scaling-degrades-decentralization/


MICROSOFT: ON-CHAIN FAILS TO MEET CAPACITY NEEDS

In a blog post on Monday, Director of Program Management at Microsoft’s Identity Division Alex Simons said that layer 2 scaling solutions, which principally involve the Lightning Network, are superior to on-chain scaling.

Simons writes:

While some blockchain communities have increased on-chain transaction capacity (e.g. blocksize increases), this approach generally degrades the decentralized state of the network and cannot reach the millions of transactions per second the system would generate at world-scale.
He later continues:

To overcome these technical barriers, we are collaborating on decentralized Layer 2 protocols that run atop these public blockchains to achieve global scale, while preserving the attributes of a world class DID (decentralized identity) system

I'm pretty sure that Graphene compression should help to decrease bandwidth requirements for a miner with big blocks even it is bigger than 32MB. And as I know in the future with UTXO snapshot development miner wouldn't need to download full blockchain.

[classicsucks]

"MICROSOFT: ON-CHAIN FAILS TO MEET CAPACITY NEEDS"

-> 640 kB ought to be enough for anybody ...

Sure - it always depends WHO you ask...  but be careful and do not invite new middlemen (BS, MS, ...) - that's not Bitcoin.

lawl now these trolls are quoting Microsoft, as if they have anything positive to do for crypto. They should stick with making malware operating systems.

As for the video of the CEO in the alligator shirt, TLDR, sh*tboy, miner collusion and 51% attacks have been done to death for years already.

[wavessurfing]

evolutive situation...

https://dedi.jochen-hoenicke.de/queue/#30d

[Bitbobb]

Roger Ver is going to be rolling out Bitcoincash ATMs:

https://twitter.com/rogerkver/status/963214514392129536

I just bought 50 Bitcoin (BCH) ATM machines for a bit under half a million dollars. Thanks to our purchase the manufacturer has agreed to roll out BCH support to their existing 1000+ machines world wide!

It needs more publicity though - bitcoincash is fading out of the mainstream media coverage of crypto.

"I just bought 50 Bitcoin (BCH)"

It's BITCOIN CASH, not BITCOIN. He seriously needs to stop doing this.
BCH started of as a fork under different name, by their own choice. It's not Bitcoin by any definition, even if it adheres to the original Bitcoin whitepaper more than the "legacy" Bitcoin does.

I'm pretty sure RV pushes BCH=Bitcoin only because he chose to jump from BTC to BCH while still owning "Bitcoin.com" and "r/btc".

Here we see a rare sight indeed!  ^^^ a legendary bitcoin whisperer is attempting to take bitcoins' temperature...  I think this is the first time ever documented.  Notice the colorful coins and markings?..  truly magnificent!

[tomkat]

Not sure if this is real or fake, but apparently there's a graffiti in Paris.
Anyone is there now and can confirm?
https://i.redd.it/a889ul8881g01.jpg

[classicsucks]

Not sure if this is real or fake, but apparently there's a graffiti in Paris.
Anyone is there now and can confirm?
https://i.redd.it/a889ul8881g01.jpg

If it's real it's probably Banksey - looks like his style.

[classicsucks]

Did anyone else notice that coinmarketcap now displays BCH, XRP, LTC, and ETH base rates?

https://thenextweb.com/hardfork/2018/02/13/coinmarketcap-cryptocurrency-bch-xrp-ltc/

BULLISH

[hv_]

Jbreher. Is that you"

https://www.paybear.io


Looks great!