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Author Topic: [ANN] Bitcoin Cash - Pro on-chain scaling - Cheaper fees  (Read 603282 times)
dkbit98
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September 13, 2018, 10:25:44 AM
Merited by suchmoon (4), bones261 (2), mindrust (1), nutildah (1), bitcoinPsycho (1)
 #16361

I found one interesting article about BCH from Jörg Molt



Let’s talk about Roger Ver and BitMain with BCash – BCH

BitMain, as the biggest miner, was shaken in the confusion around SegWit from the so-called Asicboost scandal.

What’s it about? The AsicBoost

By overclocking some devices, Asic has managed to get 20 percent more power. This only maked sense, as long as SegWit was not activated.

 SegWit is able to double the transactions in a block, by removing the signatures, which are not necessary for proof of work.

 A miner however, lives from having the most power in the so-called hash process, and tries to gain advantages in the issuing of BitCoins. This is a random principle in the guessing process, so the probability of generating more results, with more guesswork, is obvious.

However, this 20 percent advantage will be neutralized by SegWit, since the upcoming Lightning network, which requires SegWit (because it only transports the signatures and no transactions), is unnecessary. Lightning can process up to 1 million transactions per second, on a signature basis.
 
So, if people are going through the Lightning network, because it only costs 20ct, they will have less transaction fees on their network, and the miner who finds the block, will get a total of 12.5 BTC. Thus, the cost is not covered.
 
These miners, with 20% more power, cost of course much more.

The scandal occurred because a newspaper revealed that these miners were only working with a certain group of people and were denied to the general public. Which led to a further imbalance in the network.

Due to the fact that Bitmain investors and major investors were disappointed, and threatened to leave Bitmain, there was only one option.

You make a new coin and bring it out with a token sale.


Roger Ver felt very fortunate to be able to revive the old BCU philosophy. And with the largest pool behind him, it was easy to get the majority for a HardFork.

The result we saw then in the formation of BCH. Now you need some trumpet politics to bring a coin out that is worthless, to a certain status.
 

So the true BitCoin was without SegWit and with original 8MB blocks. Roger Ver then moved his coins onto an exchange, which also fueled the illusion that he could turn his BitCoins into BCash.

What came next was another dilettante masterpiece. They forgot to set the Difficulty and so BCH had a block time of 10 hours at the beginning and it took a very long time to get it fixed. Investors lost a lot of value and BCH shot down in value.


Today what´s left is a stubborn community and development team. However, 55 percent of the hash power is in one group and they hold central control of the network.

Also, BCH can not be used as a means of payment – ergo a Blockchain with 8MB blocks in a central hand with no external effect. Pathetic for something which calls itsel the „true BitCoin“.

Luckily, it does not change the attitude of Roger Ver in favour of BitCoin or BCash, Fintec and old Moneysystems, and so in reality, he´s working on the dream of a free crypto society.

 
After the wildest rumours of hashing power and dumping on low transaction fees circulated on the internet, and the propaganda on Roger’s BitCoin.com blog, BCash currently has an overrated price bubble that can burst at anytime.

AltCoins and the future

You can see with the two coins SegWit2x and BCash, that AltCoins and FakeCoins only have a limited life span, as long as you keep the story going. But sooner or later, the story is no longer enough and investors start looking for something else, a new blockchain and a new coin that they can push. Ultimately, all the hype is for people to trade with Altcoins to buy more BitCoins, or making people pay for Fake Coins with BTC, so enabling the Fake Coin issuers to get their hands on more Bitcoin.

 
The price increase from January 2016 to the end of 2017 has caused enormous greed and an increase in scam companies.


Full article:

https://joerg-molt.de/news/the-truth-about-bch-scams-bch-transaction-costs-utxo/

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jbreher
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September 13, 2018, 02:07:30 PM
 #16362

I found one interesting article about BCH from Jörg Molt
Let’s talk about Roger Ver and BitMain with BCash – BCH
Full article:
https://joerg-molt.de/news/the-truth-about-bch-scams-bch-transaction-costs-utxo/

Containing as many false statements of "fact" as it does, it is rather hard to take the author seriously in his conclusions.

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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September 13, 2018, 02:16:48 PM
 #16363

Cobra's color

https://twitter.com/theantnest/status/1040101466667737091


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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September 13, 2018, 03:39:38 PM
 #16364

That is some serious spin

BCH created to scale on chain

Spun into: bitmain created BCH to use ASIC Boost
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September 13, 2018, 08:05:13 PM
 #16365

I heard a rumour Bitmain is now demanding KYC check for anyone buying bitcoin miners.Chairman mao now wants your name and number?
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September 13, 2018, 11:41:00 PM
 #16366

I heard a rumour Bitmain is now demanding KYC check for anyone buying bitcoin miners.Chairman mao now wants your name and number?

The rumor is true. They need KYC info to buy miners from them.
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September 14, 2018, 03:20:44 AM
 #16367


I got red trust because i speak the truth....This thread shows why many long term users are being tagged red, ...https://bitcointalk.org/index.php?topic=2399315.msg24593043#msg24593043 , chk theymos comment.
Bitcoin cash is the real upgrade bitcoin needed, not segwit.btc is no longer what people think it was...https://www.segwetters.org/
How The Banks Bought Bitcoin  The Lightning Network - https://www.youtube.com/watch?v=UYHFrf5ci_g&feature=youtu.be&repost= Bitcoin: A Peer-to-Peer Electronic Cash System https://bitcoin.org/bitcoin.pdf
hornetsnest
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September 14, 2018, 10:45:10 AM
 #16368

I heard a rumour Bitmain is now demanding KYC check for anyone buying bitcoin miners.Chairman mao now wants your name and number?

The rumor is true. They need KYC info to buy miners from them.


Only a tool or a fool would give these commies their personal details.It's a sad sad situation.
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September 14, 2018, 10:47:04 AM
 #16369

Hu ?

https://cryptolinenews.com/2018/09/european-lawmakers-to-allow-passports-for-icos/

 Huh   Roll Eyes

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.
theleaf
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September 14, 2018, 08:32:54 PM
 #16370



what is this snap? market is returning? the return of the bull? looks like we are in green today

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September 14, 2018, 08:35:01 PM
 #16371

I found one interesting article about BCH from Jörg Molt



Let’s talk about Roger Ver and BitMain with BCash – BCH

BitMain, as the biggest miner, was shaken in the confusion around SegWit from the so-called Asicboost scandal.

What’s it about? The AsicBoost

By overclocking some devices, Asic has managed to get 20 percent more power. This only maked sense, as long as SegWit was not activated.

 SegWit is able to double the transactions in a block, by removing the signatures, which are not necessary for proof of work.

 A miner however, lives from having the most power in the so-called hash process, and tries to gain advantages in the issuing of BitCoins. This is a random principle in the guessing process, so the probability of generating more results, with more guesswork, is obvious.

However, this 20 percent advantage will be neutralized by SegWit, since the upcoming Lightning network, which requires SegWit (because it only transports the signatures and no transactions), is unnecessary. Lightning can process up to 1 million transactions per second, on a signature basis.
 
So, if people are going through the Lightning network, because it only costs 20ct, they will have less transaction fees on their network, and the miner who finds the block, will get a total of 12.5 BTC. Thus, the cost is not covered.
 
These miners, with 20% more power, cost of course much more.

The scandal occurred because a newspaper revealed that these miners were only working with a certain group of people and were denied to the general public. Which led to a further imbalance in the network.

Due to the fact that Bitmain investors and major investors were disappointed, and threatened to leave Bitmain, there was only one option.

You make a new coin and bring it out with a token sale.


Roger Ver felt very fortunate to be able to revive the old BCU philosophy. And with the largest pool behind him, it was easy to get the majority for a HardFork.

The result we saw then in the formation of BCH. Now you need some trumpet politics to bring a coin out that is worthless, to a certain status.
 

So the true BitCoin was without SegWit and with original 8MB blocks. Roger Ver then moved his coins onto an exchange, which also fueled the illusion that he could turn his BitCoins into BCash.

What came next was another dilettante masterpiece. They forgot to set the Difficulty and so BCH had a block time of 10 hours at the beginning and it took a very long time to get it fixed. Investors lost a lot of value and BCH shot down in value.


Today what´s left is a stubborn community and development team. However, 55 percent of the hash power is in one group and they hold central control of the network.

Also, BCH can not be used as a means of payment – ergo a Blockchain with 8MB blocks in a central hand with no external effect. Pathetic for something which calls itsel the „true BitCoin“.

Luckily, it does not change the attitude of Roger Ver in favour of BitCoin or BCash, Fintec and old Moneysystems, and so in reality, he´s working on the dream of a free crypto society.

 
After the wildest rumours of hashing power and dumping on low transaction fees circulated on the internet, and the propaganda on Roger’s BitCoin.com blog, BCash currently has an overrated price bubble that can burst at anytime.

AltCoins and the future

You can see with the two coins SegWit2x and BCash, that AltCoins and FakeCoins only have a limited life span, as long as you keep the story going. But sooner or later, the story is no longer enough and investors start looking for something else, a new blockchain and a new coin that they can push. Ultimately, all the hype is for people to trade with Altcoins to buy more BitCoins, or making people pay for Fake Coins with BTC, so enabling the Fake Coin issuers to get their hands on more Bitcoin.

 
The price increase from January 2016 to the end of 2017 has caused enormous greed and an increase in scam companies.


Full article:

https://joerg-molt.de/news/the-truth-about-bch-scams-bch-transaction-costs-utxo/

Agree, the force behind the price sky rocket is mostly from greed, making the quick money, where as the blockchain technology is still in its infancy stage

dkbit98
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September 16, 2018, 11:56:46 AM
 #16372

Anyone who did not watch debate on CoinsBank cruise
with Roger Ver, Jimmy Song, and Tone Vays
can do it on this official video:
https://www.youtube.com/watch?v=tkvZoaVHQV0

My conclusion is that we need to focus on adaption and tech improving,
not wasting time, fighting each other, and proving who is wrong‚ who is wright, who is THE REAL ONE,
and yelling like little immature kids ...

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September 16, 2018, 12:39:50 PM
 #16373

Anyone who did not watch debate on CoinsBank cruise
with Roger Ver, Jimmy Song, and Tone Vays
can do it on this official video:
https://www.youtube.com/watch?v=tkvZoaVHQV0

My conclusion is that we need to focus on adaption and tech improving,
not wasting time, fighting each other, and proving who is wrong‚ who is wright, who is THE REAL ONE,
and yelling like little immature kids ...

I don’t see a purpose for debate, they are completely different cryptocurrencies. One is peer to peer cash, and one is digital gold.

Btc is not meant for people who make less then 2$ a day.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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September 16, 2018, 03:40:31 PM
 #16374

Spendl option

https://dailyhodl.com/2018/09/15/crypto-world-travelers-can-pay-for-package-deals-with-bitcoin-ethereum-litecoin-dash-dogecoin-and-more/

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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September 16, 2018, 04:38:14 PM
 #16375

Anyone who did not watch debate on CoinsBank cruise
with Roger Ver, Jimmy Song, and Tone Vays
can do it on this official video:
https://www.youtube.com/watch?v=tkvZoaVHQV0

My conclusion is that we need to focus on adaption and tech improving,
not wasting time, fighting each other, and proving who is wrong‚ who is wright, who is THE REAL ONE,
and yelling like little immature kids ...

I don’t see a purpose for debate, they are completely different cryptocurrencies. One is peer to peer cash, and one is digital gold.

Btc is not meant for people who make less then 2$ a day.

just like gold is not for people who makes less than $2/day? Its not how much you make a day, its how you make the money and keeping up with the hard work consistently

dkbit98
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September 16, 2018, 05:11:02 PM
 #16376

Anyone who did not watch debate on CoinsBank cruise
with Roger Ver, Jimmy Song, and Tone Vays
can do it on this official video:
https://www.youtube.com/watch?v=tkvZoaVHQV0

My conclusion is that we need to focus on adaption and tech improving,
not wasting time, fighting each other, and proving who is wrong‚ who is wright, who is THE REAL ONE,
and yelling like little immature kids ...

I don’t see a purpose for debate, they are completely different cryptocurrencies. One is peer to peer cash, and one is digital gold.

Btc is not meant for people who make less then 2$ a day.


If people would be payed in BCH it would be pure disaster !
WHY ?
Simple answer:
BCH lost almost 90% of its value



That means, instead of 2$ a day this man would  get 0,22$ in BCH !
 

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September 16, 2018, 05:12:54 PM
 #16377

Anyone who did not watch debate on CoinsBank cruise
with Roger Ver, Jimmy Song, and Tone Vays
can do it on this official video:
https://www.youtube.com/watch?v=tkvZoaVHQV0

My conclusion is that we need to focus on adaption and tech improving,
not wasting time, fighting each other, and proving who is wrong‚ who is wright, who is THE REAL ONE,
and yelling like little immature kids ...

I don’t see a purpose for debate, they are completely different cryptocurrencies. One is peer to peer cash, and one is digital gold.

Btc is not meant for people who make less then 2$ a day.

If people would be payed in BCH it would be pure disaster !
WHY ?
Simple answer:
BCH lost almost 90% of its value




BCH is near 1 year old and is the fastest growing cryptocurrency in that span.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
sirsplashalot
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September 16, 2018, 05:13:49 PM
 #16378

Anyone who did not watch debate on CoinsBank cruise
with Roger Ver, Jimmy Song, and Tone Vays
can do it on this official video:
https://www.youtube.com/watch?v=tkvZoaVHQV0

My conclusion is that we need to focus on adaption and tech improving,
not wasting time, fighting each other, and proving who is wrong‚ who is wright, who is THE REAL ONE,
and yelling like little immature kids ...

I don’t see a purpose for debate, they are completely different cryptocurrencies. One is peer to peer cash, and one is digital gold.

Btc is not meant for people who make less then 2$ a day.

just like gold is not for people who makes less than $2/day? Its not how much you make a day, its how you make the money and keeping up with the hard work consistently

I’m just quoting Samson Mow, the chief central authority of the github relevant to the company (Blockstream) that controls the fate of BTC’s development.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
dkbit98
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September 16, 2018, 05:15:01 PM
 #16379

Quote
BCH is near 1 year old and is the fastest growing cryptocurrency in that span.

Since BCH just forked and copied original Bitcoin chain... and keeps stating that it is THE ONE... then it is older than 1 year.


And ... It is fastest growing... downwards  ⇘⇘⇘
- 89.26%


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September 16, 2018, 05:25:18 PM
 #16380

Quote
BCH is near 1 year old and is the fastest growing cryptocurrency in that span.

Since BCH just forked and copied original Bitcoin chain... and keeps stating that it is THE ONE... then it is older than 1 year.


It is fastest growing downwards  ⇘⇘⇘
- 89.26%



Bitcoin Cash literally has the fastest growing marketcap of any cryptocurrency. It ranks 4th and it’s only just over a year old. Most ‘December 2017’ Crypto enthusiasts, otherwise known as ‘the dumb money,’ don’t quite understand such facts. They simply hop on the btc train without understanding what’s best for the global commerce. These people don’t even own Bitcoin, they simply hold a Crypto that depends on BTC for liquidity in buy support because their cryptocurrency of choice only has BTC trading pairs.

Bitcoin Cash (BCH) - A P2P Electronic Cash System Built for Everyday Global Use.
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