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

[mindrust]

Anybody still holding this crap? Get out while you still can it doesn't have much time left. Read this and you'll understand what a gamble bcash is:

https://medium.com/@StopAndDecrypt/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

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[buriks]

Anybody still holding this crap? Get out while you still can it doesn't have much time left. Read this and you'll understand what a gamble bcash is:

https://medium.com/@StopAndDecrypt/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

thanks, I will not know this information if you do not share it here

[bitcoinPsycho]

Anybody still holding this crap? Get out while you still can it doesn't have much time left. Read this and you'll understand what a gamble bcash is:

https://medium.com/@StopAndDecrypt/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

Good read

"My Prediction: Ethereum will implement a blocksize cap and it will race BCash to both of their deaths"

[jbreher]

BCH has to deal with the transaction malleability bug in order to implement something like LN, which relies on the transaction id to be fixed.

Close, but not quite. The current implementation of LN requires a malleability fix (which it has accomplished by means of segwit). However, other second-layer, payment channel implementations have been designed and scenarioed which do not require such a malleability fix.

(segwit fixed the transaction malleability bug.) However, someone may come up with a work around using the OPcodes. Or there may be another way to fix the transaction malleability.

BCH has for some time been discussing whether or not to adopt a malleability fix. And if so, whether segwit or some other mechanism (several have been scenarioed) would be the proper mechanism to adopt.

However, I think it is low priority for the BCH team to get BCH to scale by using off chain solutions.

Agreed. While it is a longer-term issue, there are much more pressing things upon which to focus.

https://youtu.be/rfOlE-mmYBo?t=111

^Craig Wright kicked out of China !!  *must see*

Well, no. Not quite. Not even close. More like Craig Wright getting escorted out of a conference room - by one of his own employees, no less.

It's an ugly scene, no doubt. A full complement of blame to go around. Not much more than rude boys behaving badly.

As an aside, I wonder why you tacked that on to a quote of a completely unrelated post I made?

[jbreher]

Anybody still holding this crap? Get out while you still can it doesn't have much time left. Read this and you'll understand what a gamble bcash is:

https://medium.com/@StopAndDecrypt/the-ethereum-blockchain-size-has-exceeded-1tb-and-yes-its-an-issue-2b650b5f4f62

Riiiight. A well-reasoned post. Unfortunately, the 'reasoning' is built atop invalid axioms. The author completely misunderstands the nature of the game theory that holds the entire system together.

As just one of several flawed assumptions, the author presumes that miners are willing to include each and every transaction within an ever-increasing block, in the face of the system being unable to handle that condition. Of course they won't. They will stop including transactions before it causes the system to crash.

However you look at it, however, the only _real_ investigation that I know of that has looked into the matter concluded that generic home computing hardware can handle about 100 tx/s - and with fixes to Bitcoin's broken threading model, about 500 tx/s.

Yes, some day, 500 tx/s will be insufficient. But not today. Not tomorrow. Not next year (at least unlikely to be).

I won't even start on how cringe-worthy his 'ratio between potential bottleneck sources' analysis is. I don't know whether to conclude that he is disingenuous, or just dense.

[Big Naturals]

https://youtu.be/rfOlE-mmYBo?t=111

^Craig Wright kicked out of China !!  *must see*

CSW is definitely a prickly dude, but if you invite international people to a conference discussion then isn't it customary to speak in a language everyone can understand? I assume the conference organisers would prefer all participants know what is being said, otherwise it's totally pointless inviting someone to your discussion if they can't understand what other people are saying.

CSW doesn't suffer fools well, isn't bothered with trying to build a reputation as a nice guy, he says what he thinks and feels, and sometimes he looks rude, but in this instance the blame for what happened is on the conference organisers for not politely asking that questions and answers be given in English, when the dude started a long answer in Chinese what was CSW expected to do, wait for him to finish and then say, can you repeat everything you just said in English, what a waste of time.

[cointopper]

Hello Bitcoin Cash believers,

Our aim is to add value to the whole crypto community by giving the best user experience to analyse cryptocurrencies.

It would be really great help from your side if you can spend 60 seconds of your time and give us your valuable feedback for our two recent updates 1) Snapshot and 2) Colourful interface of Bitcoin Cash at: https://cointopper.com/coin/bitcoincash

Constructive criticisms are always welcome at CoinTopper.  Thank you!!

[Mrpumperitis]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).



I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )

[tomkat]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).



I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )

The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.

[hv_]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).



I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )

The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.

Volatility in market price and difficulty. And many more operational risk you take as well. All costs you might pay.

[nick1492]

It may seems that right now, BCH infrastructures are not layed out yet. Bitcoin have done it in 8 years to reach a thousand dollars per coin. BCH made a thousand dollars in less than a year. With support of miners and organizers, it can still reach what BTC have achieved. It is still a long way to go. I still do believe on BCH.

[jbreher]

Hello Bitcoin Cash believers,

Our aim is to add value to the whole crypto community by giving the best user experience to analyse cryptocurrencies.

It would be really great help from your side if you can spend 60 seconds of your time and give us your valuable feedback for our two recent updates 1) Snapshot and 2) Colourful interface of Bitcoin Cash at: https://cointopper.com/coin/bitcoincash

Constructive criticisms are always welcome at CoinTopper.  Thank you!!

I am unlikely to adopt a different coin tracker. That said, I can think of one improvement. In advance mode, you show things other than usd price in differing colors. I would suggest placing a dot of color next to each of the figures that surround the chart. The popup tooltip works, but obscures part of the chart detail, and would be unneeded with this addition.

[Mrpumperitis]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).



I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )

The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.

True for the average consumer(miner)your prices are probably accurate.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.

Also the producers of asics are always  ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.

[jbreher]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).

Hmm. Central banker misunderstands where the value of a currency comes from. Defines it in terms of trade balances between nations. Yet in a frictionless environment, it will not be the 'nations' that choose their adopted currency. It will be the people therein.

Personally, once most people understand the nature of a currency that cannot be inflated upon a whim, I belive they will choose such an immutable currency.

Which bodes poorly for his position.

Lastly, if he wants to ascribe correspondence between currency and 'nation', then fine. We are the nation named Internet. Deal with that, central banker dude.

[Mrpumperitis]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).

Hmm. Central banker misunderstands where the value of a currency comes from. Defines it in terms of trade balances between nations. Yet in a frictionless environment, it will not be the 'nations' that choose their adopted currency. It will be the people therein.

Personally, once most people understand the nature of a currency that cannot be inflated upon a whim, I belive they will choose such an immutable currency.

Which bodes poorly for his position.

Lastly, if he wants to ascribe correspondence between currency and 'nation', then fine. We are the nation named Internet. Deal with that, central banker dude.

What you say will happen, i agree, but not yet.
I believe it was the central bankers that made og btc so over priced in the first place.
(Davos ,world economic forum 2016 is where it began, btc price was around $500 , they were buying a few month before , around Nov2015 before the forum in 2016 at around $250)

Its very easy for them to scare away people from crypto(short term) by causing huge price manipulation...making fiat seem like the safer choice.

[abdulaziz07]

Shouldn't both move up with btc??? At least thats what happened historically OR bth makes its run after.

[vothuong1]

Shouldn't both move up with btc??? At least thats what happened historically OR bth makes its run after.

Think most altcoins follows bitcoin price, Bcash and most other alcoins, in bear/bull markets. Thus, lets hope of btc price to gradually increase over time

[jojo69]

anybody else bank on that fat finger a few hours ago


ca...ching

[tomkat]

https://www.merkle.press/2018/05/bitcoin-price-has-hypothetical-value-of.html
Bitcoin Price Has Hypothetical Value of $1,800: Federal Reserve Report
“Although Bitcoins do not possess any real intrinsic value, from a commodity valuation perspective, we can estimate a hypothetical value based on its production costs. Recent estimates regarding the energy involved in mining a single Bitcoin by professional energy-efficient mining rigs put it at about $1,800 when mined in China (where 80% of the currently mined Bitcoins originate).



I said a few month back around $2k to mine 1 og btc...
Probably going to go lower than that ( $800-$1400 possible )

The energy is obviously not the only cost of mining, so his hypothetical value is far from realistic.
To mine 1 BTC with 1 Antminer S9 one needs 1223 days at constant (=current) difficulty.
The energy used during that time would be ~40k kWh (cost ~ $2000 at $0.05 per kWh).
S9 price is ~$900-1000, so energy + miner would be $3000, and then there're other costs, like employees, buildings, HVAC, repairs, etc.

True for the average consumer(miner)your prices are probably accurate.
However for industrial scale miners, its not, its alot cheaper.
They buy asics in bulk and get cheaper elec, leading to huge savings.

Also the producers of asics are always  ahead.
While average miners use s9, the asic producers will be using "testing" s10 and be creating s11 always remain a few steps ahead of the rest.

Probably true about the equipment prices, but energy at $0.05 is rather low... at least for US and EU, not sure about China and far east in general.
Also, for the average consumer grade miner there're no additional costs of large buildings, HVAC installations and employees, so the costs aren't much different imo.

[Ingramhb]

Bitcoin Cash as a whole, it is still the advantage of the air force. Although BCH is worth holding for a long time, it is not the best time to buy it. Learn to wait.