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Author Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees  (Read 587918 times)
darrenwgray
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June 03, 2018, 03:27:00 PM
 #15361

Every POW coin will fail, one earlier, one later. See all the 51% attacks on BTG and VERGE.

There is only one solution with enough experiance: POS  Grin

POS has its use cases but it's more vulnerable to rich getting richer effect
https://www.yours.org/content/proof-of-work-vs-proof-of-stake-5437b3a591e7

Big coins are safe, and the smaller ones... well, in order to survive they should attract more hash power
https://www.crypto51.app/


Whether you believe PoS is the final energy solution or some other consensus method yet to be created.
The fact is Bitcoin's Energy Waste has to be dealt with and sooner is better than later.  Smiley

https://bitcointalk.org/index.php?topic=4236251.msg38840457#msg38840457
https://bitcointalk.org/index.php?topic=4236251.msg38924570#msg38924570



You are aware of ‘alternative energy’ ?

You are aware of 'Math'?

Bitcoin Alone will use 100% of the amount of electricity the world generated in 2017, as soon as Feb 2020.
That is all of the electricity including electricity from alternative sources.

If you think the world energy output is going to double or triple in the next 2 years, lets just say you are naive.   Tongue

https://www.pri.org/stories/2017-12-20/bitcoins-sky-rocketing-energy-use-viral-story-we-checked-math
Quote
Eric Holthaus wrote for Grist that “by July 2019, the bitcoin network will require more electricity than the entire United States currently uses.
By February 2020, it will use as much electricity as the entire world does today.

https://www.computerworld.com/article/3068599/sustainable-it/renewables-fastest-growing-energy-source-feds-say.html
Quote
Renewables are now the world's fastest-growing energy source and are expected to increase by 2.6% per year through 2040.
Hydropower and wind are the two largest contributors to the increase in world electricity generation from renewable energy sources, the report stated.May 11, 2016

Alternative energy is only growing at 2.6% per year, it can in no way even slow down the insane energy waste of bitcoin.


But Bitcoin can accelerate the development of cheaper energy solutions. It is all about incentives. For example if oil prices go up, you also see investments in renewable energy surge.
renewable energy surge is too slow. Oil will be used and our grandchildren
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hv_
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June 04, 2018, 09:48:51 AM
 #15362

Has anyone tried out that wallet & its embedded service ?

https://twitter.com/Bitcoin/status/1003188107691192320


@CashPayWallet

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
enixon291077
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June 04, 2018, 11:09:42 AM
 #15363







BCH Competition Rewards Distributed

https://news.kucoin.com/en/%F0%9F%8E%81-bch-competition-rewards-distributed/
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June 04, 2018, 11:58:00 AM
 #15364

Go and grab some BCH before you lose your fiat value !

https://memo.cash/post/dd90953ce6306d6832c7b347ab51f8da256fe14285bdda15badc78e15fea7add

http://www.middleeasteye.net/news/turkey-inflation-surges-again-over-12-percent-1179729438


Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
hv_
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June 04, 2018, 03:01:52 PM
 #15365

Have fun with a Bitcoin show at German Bayern LB

https://vimeo.com/272512178


But -  Bitcoin CAN scale !

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
sirsplashalot
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June 04, 2018, 03:56:42 PM
 #15366

Have fun with a Bitcoin show at German Bayern LB

https://vimeo.com/272512178


But -  Bitcoin CAN scale !

It's a shame to watch this type of content. You'll probably agree with me on this. Bitcoin for use of a 'store of value' or 'digital gold' or for ETF adoption is perhaps the most irresponsible use for any cryptocurrency for 2 reasons.

1. Usefulness

Other commodities and precious metals have purpose. In production create job demand and encourages international trade to strengthen the world economy. Bitcoin is mined without human use.

2. Scarcity

Some argue that Bitcoin is scarce given theres 21 million that exist. But among the Bitcoin supply of 21 million Bitcoins there are thousands of Cryptocurrencies, some much better suited for the 'store of value purpose.' These cryptocurrencies can be created essentially out of thin air and cannot be compared to commodites with sentiment. Nothing will stop a powerful nation or group of individuals from creating another cryptocurrency for a store of value or 'digital gold.'

For this reason, the alternative is a peer to peer decentralised cash system built to sustain a global network of transactions for individual and merchant use. This is why Bitcoin Cash exists. This 'digital gold' face of Bitcoin is hardly worth a conference and Proof of Stake is no better then our central banking system with the top selling of their inflated interest.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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June 04, 2018, 03:59:12 PM
 #15367

BCH apparently now passes the stage of accumulation, the manipulator is gaining volumes BCH purchasing it at current price, I think the pump will be very soon

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June 04, 2018, 04:35:25 PM
 #15368

BCH apparently now passes the stage of accumulation, the manipulator is gaining volumes BCH purchasing it at current price, I think the pump will be very soon

A pump in BCH is much different then any other cryptocurrency market. Given the panic debate of BTC and BCH and that the majority of cryptocurrencies are paired with Bitcoin in trading, the whole cryptocurrency market tends to crash, aside from BCH of course. What BCH needs is more trading pairs with other cryptocurrencies.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
ssvenss
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June 04, 2018, 04:47:22 PM
 #15369

BCH apparently now passes the stage of accumulation, the manipulator is gaining volumes BCH purchasing it at current price, I think the pump will be very soon

A pump in BCH is much different then any other cryptocurrency market. Given the panic debate of BTC and BCH and that the majority of cryptocurrencies are paired with Bitcoin in trading, the whole cryptocurrency market tends to crash, aside from BCH of course. What BCH needs is more trading pairs with other cryptocurrencies.

I think we can easily see the price of 0.3 and maybe 0.4 BTC for 1 coin BCH, it all depends on the weight of our balls, how much we can keep coins

bitcoinPsycho
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Bcash dump that shit


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June 04, 2018, 04:49:42 PM
 #15370

BCH apparently now passes the stage of accumulation, the manipulator is gaining volumes BCH purchasing it at current price, I think the pump will be very soon
you keep telling yourself that Cheesy

THE NEXT 24 YEARS ARE CRITICAL
bitcoinPsycho
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Bcash dump that shit


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June 04, 2018, 04:50:56 PM
 #15371

BCH apparently now passes the stage of accumulation, the manipulator is gaining volumes BCH purchasing it at current price, I think the pump will be very soon

A pump in BCH is much different then any other cryptocurrency market. Given the panic debate of BTC and BCH and that the majority of cryptocurrencies are paired with Bitcoin in trading, the whole cryptocurrency market tends to crash, aside from BCH of course. What BCH needs is more trading pairs with other cryptocurrencies.

I think we can easily see the price of 0.3 and maybe 0.4 BTC for 1 coin BCH, it all depends on the weight of our balls, how much we can keep coins
best laugh I've had all day Cheesy.weeeeeee

THE NEXT 24 YEARS ARE CRITICAL
Zin-Zang
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June 04, 2018, 04:56:10 PM
 #15372

Proof of Stake is no better then our central banking system with the top selling of their inflated interest.

The Answer to the above issue is easy, you design a Proof of Stake System with an Ultra Low Inflation/Interest rate.   Wink
By making the rate ultra low , you assure that the system stays fair for all , and that anyone selling any amount of real value is selling from their principle and not interest alone.
This ends the so called Rich only get richer myth in Proof of Stake.

The Energy Efficiency of Proof of Stake verses Proof of Work can not be denied.

*Interesting enough the Miners that are rich that get richer , no one worries about in Proof of Work.*
Due to the financial costs of running warehouses full of ASICS, has Centralized Bitcoin mining to the Already Rich.


No one seems to worried about the environmental damage or costs inflicted on the Old & Poor by Miners increasing electricity rates across a region.


Typical Bitcoin Miner Photo when asked about their insane electricity usage.  Smiley
Just staring at their profits, with no concern for anyone else.


ZEITCOIN is the Future! (http://www.zeit-coin.net)
Energy Efficient / Decentralized / Ultra Low Inflation
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June 04, 2018, 05:16:41 PM
 #15373

That is so true for billions and worth supporting ASAP.

Not wait for 18months

https://mobile.twitter.com/imkeshav/status/1002596637556944896

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
Memo: 1AHUYNJKPfY7PjVK1hNQFo5LrdGixuiybw
The simple way is the genius way - in Moore and Satoshi we trust.
sirsplashalot
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June 04, 2018, 05:19:25 PM
 #15374

Proof of Stake is no better then our central banking system with the top selling of their inflated interest.

The Answer to the above issue is easy, you design a Proof of Stake System with an Ultra Low Inflation/Interest rate.   Wink
By making the rate ultra low , you assure that the system stays fair for all , and that anyone selling any amount of real value is selling from their principle and not interest alone.
This ends the so called Rich only get richer myth in Proof of Stake.

The Energy Efficiency of Proof of Stake verses Proof of Work can not be denied.

*Interesting enough the Miners that are rich that get richer , no one worries about in Proof of Work.*
Due to the financial costs of running warehouses full of ASICS, has Centralized Bitcoin mining to the Already Rich.



For the first bolded point, this is the flaw, there is no 'assuring' that. Look at the disaster our 'trusted third party' banks have done.

As for the second point in bold, the miners also SUPPORT the network and therefore deserve the fees, this is why it is called 'Proof of Work.'

As for the energy efficiency argument, I've said this many times. Alternative energy is possible and if we were to take Bitcoin Cash as seriously as far a making it a globally adopted currency, billions would be invested into these alternative energy sources if the desire was there. China runs on coal and thats the problem, not Bitcoin Cash. Lets also remember how many bank related services would not be running 24/hours a day. The energy efficiency articles are often overstatements without any real factual backing. Those statistics are often kept quiet. Its important to care about the environment for future generations, but there are alternatives here.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
Nagyyssa
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June 04, 2018, 05:24:48 PM
 #15375

Bitcoin Cash will soon become useless to anyone with the introduction of lightning network in the network bitcoin
sirsplashalot
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June 04, 2018, 05:29:28 PM
 #15376

Bitcoin Cash will soon become useless to anyone with the introduction of lightning network in the network bitcoin

Come back in 18 months.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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June 04, 2018, 05:56:44 PM
 #15377


It's a shame to watch this type of content. You'll probably agree with me on this. Bitcoin for use of a 'store of value' or 'digital gold' or for ETF adoption is perhaps the most irresponsible use for any cryptocurrency for 2 reasons.

1. Usefulness

<blah,blah>

2. Scarcity

<blah,blah>

Go home, grandpa-you're drunk.

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.
Zin-Zang
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June 04, 2018, 05:58:19 PM
 #15378

Proof of Stake is no better then our central banking system with the top selling of their inflated interest.

The Answer to the above issue is easy, you design a Proof of Stake System with an Ultra Low Inflation/Interest rate.   Wink
By making the rate ultra low , you assure that the system stays fair for all , and that anyone selling any amount of real value is selling from their principle and not interest alone.
This ends the so called Rich only get richer myth in Proof of Stake.

The Energy Efficiency of Proof of Stake verses Proof of Work can not be denied.

*Interesting enough the Miners that are rich that get richer , no one worries about in Proof of Work.*
Due to the financial costs of running warehouses full of ASICS, has Centralized Bitcoin mining to the Already Rich.



For the first bolded point, this is the flaw, there is no 'assuring' that. Look at the disaster our 'trusted third party' banks have done.

As for the second point in bold, the miners also SUPPORT the network and therefore deserve the fees, this is why it is called 'Proof of Work.'

As for the energy efficiency argument, I've said this many times. Alternative energy is possible and if we were to take Bitcoin Cash as seriously as far a making it a globally adopted currency, billions would be invested into these alternative energy sources if the desire was there. China runs on coal and thats the problem, not Bitcoin Cash. Lets also remember how many bank related services would not be running 24/hours a day. The energy efficiency articles are often overstatements without any real factual backing. Those statistics are often kept quiet. Its important to care about the environment for future generations, but there are alternatives here.

Their is no flaw, Bankers use a Loan System to Create Unlimited Sums out of thin air, of which they have completely Centralized Control.

A Well Designed Proof of Stake System using ULI is Decentralized , as no one can confiscate or deny transactions like in the banking system.

As far as your alternative energy , that is beyond nonsense. The alternative energy is growing at 2.6% per year max and that is projected until 2040.
It is a joke, at the insane rate bitcoin is pulling power, you need a New Nuclear Power Plant running at full capacity almost on a bi-weekly basis starting in late 2019 .
Due to regulatory restrictions , that is never going to happen.

The more likely scenario is that World Governments begin blocking Bitcoin Mining and only allow their chosen few to receive the electricity for bitcoin mining.
This gives the world governments the power to choose only those that will comply with their requests on which transactions to include in the blockchain and which address to blacklist. They may not be able to steal the funds, but they will force the miners to freeze in place anyone's bitcoin they so deem enemies of the state.  Tongue
The Insane Energy waste is a security vulnerability because it further increases Centralization of bitcoin , not a security benefit as some in here so foolishly believe.
In the end result , a Centralized bitcoin will be no better than a Centralized Banking System.  Tongue

Decentralization is the key to avoiding Government Control and Censorship from Totalitarian Regimes.

ZEITCOIN is the Future! (http://www.zeit-coin.net)
Energy Efficient / Decentralized / Ultra Low Inflation
lsd400
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June 04, 2018, 06:10:04 PM
 #15379

Bitcoin Cash will soon become useless to anyone with the introduction of lightning network in the network bitcoin

Maybe the next year but who knows... While on BCH https://twitter.com/keyportapp/status/1003314779656630272

p2p encrypted messaging app on BCH blockchain
CRYPTO America KING
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June 04, 2018, 07:03:37 PM
 #15380

FIFA WORLD CUP IS STARTING FROM 14TH JUNE GREAT TIME TO BUY BCH BITCOIN CASH
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