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Author Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees  (Read 587918 times)
sirsplashalot
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June 04, 2018, 07:35:01 PM
 #15381

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.


Power, regulations, centralisation. At the end of the day the power is in the hands of the wealth and they will regulate the control.

And it ain't gonna be zeitcoin.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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June 04, 2018, 07:52:22 PM
 #15382

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.


Power, regulations, centralisation. At the end of the day the power is in the hands of the wealth and they will regulate the control.

And it ain't gonna be zeitcoin.

Time will tell on ZEITCOIN,   Cheesy

In your close minded nature, you are also missing the fact that a new PoW algorithm running only on CPUs would destroy ASICS Centralization and re add decentralization back into bitcoin. It would also avert the energy apocalypse in bitcoin's current future.

In other words , if you pulled your head out of your ass, you would see their are additional options , only if people start acknowledging the insane energy waste is a problem.  
Proof of Stake is not a viable solution for Bitcoin as it requires a larger number of coins to secure the network than their 21 million limit.

However , in the mean time converting to a CPU ONLY mining solution would return Bitcoin to its original roots and restore decentralization to its platform.
(This coin claims to follows Satoshi Vision more than others, well when he started their were no ASICS Farms, and he only ran his mining on a CPU.)


But if in your arrogance you prefer domination by the select few rich miners that will consort with Government to control transactions, feel free as others will choose different.  Wink


ZEITCOIN is the Future! (http://www.zeit-coin.net)
Energy Efficient / Decentralized / Ultra Low Inflation
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June 04, 2018, 09:08:58 PM
 #15383


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.

bitcoin cash is controlled by the evil banker reptilians =)  #checkmate

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operabit
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June 04, 2018, 09:14:23 PM
 #15384

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

It could be that it will be a small pump and will not proceed to a larger pump considering this year's activity is very quiet enthusiasts interested.


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OWZ1337
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June 04, 2018, 10:07:03 PM
 #15385

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

It could be that it will be a small pump and will not proceed to a larger pump considering this year's activity is very quiet enthusiasts interested.

fake satoshi has been getting better at trolling ethereum tokens lol Wink haha

I am not a Financial Analyst, Investment Broker, Financial Adviser, Crypto-Guru or any sort of professional that would be deemed trustworthy! Wink weee™
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June 05, 2018, 01:08:38 AM
 #15386

First UTXO Commitment on Testnet
https://www.yours.org/content/first-utxo-commitment-on-testnet-db7bf45bf83d

https://www.reddit.com/r/btc/comments/8olovh/first_utxo_commitment_on_testnet/
https://news.ycombinator.com/item?id=17233331


"It would be a great improvement if full nodes would be able to just download the UTXO set (~2gb) instead of the entire history (~140gb)."

 Grin

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June 05, 2018, 11:26:55 AM
 #15387

Bitcoin Cash coins are becoming more and more outstanding in the field of payment, so this value coin is worth holding in the medium and long term.

hv_
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June 05, 2018, 12:24:59 PM
 #15388

https://www.keyport.cash/

Chat securely on the decentralized web
Encrypted messaging using the
peer-to-peer protocol of Bitcoin Cash


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.
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June 05, 2018, 01:36:41 PM
 #15389

https://www.keyport.cash/

Chat securely on the decentralized web
Encrypted messaging using the
peer-to-peer protocol of Bitcoin Cash


The idea looks interesting. BitcoinCash needs to fill in some big blocks with something. If this becomes popular, BitcoinCash will probably be used more often as a messenger than as money. Some messengers have yet to implement cryptocurrencies and in the case of BitcoinCash this will already be ready.

sirsplashalot
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June 05, 2018, 02:10:45 PM
 #15390

memo.cash and block press are also growing much more daily. It's good to see unsensored social media on the blockchain.

I'm hoping more vendors appear on localbitcoincash. Its annoying that since January the bolivar has devalued from almost ~200,000 to ~1,000,000 bs to 1 USD. There seems to be the 'Bitcoin is saving Venezuela' fad that outsiders use, but in reality not many vendors at good rates will make make a trade less then 50$ USD from BTC to Bolivar. Of course the fee to deposit in localbitcoins is large as well in relevance to the monthly average ~4$ salary. The solution is to use Bitcoin Cash for everyday exchange for goods and services, but what is good about one bank in Venezuela is that Banco Banesco will can make bank transfers between Banesco accounts within seconds/minutes 7 days a week, this is even the case with tiny little ~$0.10 equivalent transfers.

However, the bolivar is likely to devalue by the time you spend it and its obvious Banco Banesco probably does not have the physical cash to even back these ridiculous devaluing figures as the max withdrawal in cash is usually 10,000 bs a day.

Electricity is also basically free in Venezuela if you are looking at profitability but mining hardware is out price range for most. I think more BCH faucets are relevant here, perhaps some with more monetary incentive then clicking adds.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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June 05, 2018, 10:55:42 PM
 #15391

Bitcoin Cash coins are becoming more and more outstanding in the field of payment, so this value coin is worth holding in the medium and long term.
Yes I also have trust on this coin and hope that the value of it will increase more higher in the future. I have invested some amount of my money in this coin and waiting for the benefit from a few months. I invested in it hearing that a fork in the previous month will happen and will then sell them but then I thought that this coin has a good future and I have to keep them for longer in my wallet.
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June 06, 2018, 12:09:40 AM
 #15392

In your close minded nature, you are also missing the fact that a new PoW algorithm running only on CPUs would destroy ASICS Centralization and re add decentralization back into bitcoin. It would also avert the energy apocalypse in bitcoin's current future.

Unnhh, yeah. There's a couple problems with your assertions.

One: If power is the problem you are trying to solve, no PoW is going to solve it. If your algo will only run on CPUs, then people will consume as much electricity in mining on huge farms of CPUs as the value of the crypto mined (minus a couple of percent for profit margin). Net effect: powercopalypse just like in Bitcoin.

Two: As we have seen over and over (and over again...), all that have tried to create an ASIC-resistant algo have failed. Utterly. The only algos to not have ASICs developed for them are algos used in insignificant cryptos - such that there would be no profit on the domination of such.

Three: Who has great resources to create huge farms of CPUs to mine your new algo? The self-same 'oligopolists' you rail against in Bitcoin.

Strike three - you and your shitcoin have struck out.

Buh-bye!

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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June 06, 2018, 07:23:47 AM
 #15393

Idea:

https://memo.cash/topic/Sell+Stuff+for+a+Tip

Carpe diem  -  cut the down side  -  be anti-fragile - don't dillute Bitcoin!
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The simple way is the genius way - in Moore and Satoshi we trust.
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June 06, 2018, 07:56:15 AM
 #15394

Bitcoin Cash was deliberately split away from bitcoin by a team who thought high fees and slow transactions would eventually destroy bitcoin. It was deliberately designed to essentially be bitcoin, except easy to send, receive and transact with. But, I still prefer bitcoin tho when it comes to liquidity and value.
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June 06, 2018, 08:47:09 AM
 #15395

Coinbase goes Japan !

https://www.bitguru.co.uk/coinbase-exchange-will-oficially-be-launching-in-japan/

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.
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June 06, 2018, 08:50:49 AM
 #15396

Bitcoin Cash was deliberately split away from bitcoin by a team who thought high fees and slow transactions would eventually destroy bitcoin. It was deliberately designed to essentially be bitcoin, except easy to send, receive and transact with. But, I still prefer bitcoin tho when it comes to liquidity and value.

Bitcoin was growing for many years now BECAUSE it was cheap and easy to use / was onboarding all sorts of ppl and businesses.

Now check what happend over last year to BTC adoption speed?

The prospect is the key, and you cannot force ppl to wait and later use. Ppl are free.

BCH saved that initial momentum of growth.

Long time extrapolation looks very bad for BTC ATM.

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.
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June 06, 2018, 09:15:55 AM
 #15397

Bitcoin Cash was deliberately split away from bitcoin by a team who thought high fees and slow transactions would eventually destroy bitcoin. It was deliberately designed to essentially be bitcoin, except easy to send, receive and transact with. But, I still prefer bitcoin tho when it comes to liquidity and value.

Bitcoin was growing for many years now BECAUSE it was cheap and easy to use / was onboarding all sorts of ppl and businesses.

Now check what happend over last year to BTC adoption speed?

The prospect is the key, and you cannot force ppl to wait and later use. Ppl are free.

BCH saved that initial momentum of growth.

Long time extrapolation looks very bad for BTC ATM.
then with the news he told  was true or not true that Bch deliberately broke away from Btc? because I just heard it, I think he should include the news link so as not to misunderstand

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June 06, 2018, 12:46:58 PM
 #15398

https://coingeek.com/coingeek-nchain-announce-miners-choice-initiative-bitcoin-cash-transaction-fees-values/

Can I get an opinion on this from someone who isn’t a ‘January 2018 Bitcoin Enthusiast?’

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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June 06, 2018, 02:22:46 PM
 #15399

then with the news he told  was true or not true that Bch deliberately broke away from Btc?

It would be more accurate to say that Bitcoin split into Bitcoin-BCH and Bitcoin-BTC.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

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June 06, 2018, 03:52:42 PM
 #15400

then with the news he told  was true or not true that Bch deliberately broke away from Btc?

It would be more accurate to say that Bitcoin split into Bitcoin-BCH and Bitcoin-BTC.

BCH "hard forked" away/off from BTC n00b!!  * :-D  ~can we now all agree b-cash is just another clone-shitcoin? lol

I am not a Financial Analyst, Investment Broker, Financial Adviser, Crypto-Guru or any sort of professional that would be deemed trustworthy! Wink weee™
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